Principal Search loses senior staff

Mort had an equity stake in the firm alongside its three remaining directors, Mike Chilman, Taru Oksman-Ison and Nick Williams. Both Mort and Mike Hindley, a departing consultant, specialised in structured credit, derivatives, high-yield and securitisation.

Structured credit has remained a robust area of hiring in otherwise weak recruitment markets in financial services.

David Burland, a consultant who joined in November from the headhunter Armstrong International to build an equities practice, has also left. So has Sarah Egan, a researcher on equities.

It was not clear whether the four departed en masse, or whether they intend to set up a firm on their own. They could not be reached for comment. But Chilman, whose own expertise lies in fixed-income, derivatives and structured products, said: &quotWe are a great team and we have given our consultants exposure to great clients.&quot

Late last year Principal Search moved to newly rented offices in Cornhill, in the City of London. to accommodate its staff, which then numbered 20 people. Asked whether there were any regrets about taking expensive new space, Chilman said: &quotWe are on a par with last year in terms of how we are doing and it is not a problem.&quot

He said Principal Search remained well positioned in fixed income and planned to expand further both in that area and asset management.

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