Gloom at top spells boom for recruiters

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Top executives who resign or are fired as companies face pressure from the downturn are helping to create a boom for headhunters, Whitehead Mann said on Thursday.

The company, which searches for executives earning more than 120,000 (€195,941.5) a year, said demand for chief executives and finance directors from FTSE 100 companies was about 50% higher than last year - offsetting weakness in the US, investment banking and the management assessment business.

The comments came as British Telecommunications said Philip Hampton, finance director, had decided to leave. BT is already looking for a chief executive, as are Hays, Tomkins and Uniq.

Matthew Brassington, Whitehead Mann finance director, said there was a growing trend to part company with chief executives or finance directors when they came under pressure.

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