Lots of people appear to be leaving Kinsey Allen

There seems to be some disgruntlement at financial services search firm Kinsey Allen. This time last year, it performed a pre-pack administration, now its managing director, finance director and several senior consultants are said to have left.

The current occupation of Bruce Lock, Kinsey Allen's former MD is indeterminate. Luke Williams a longstanding equity derivatives and ETFs consultant has been on gardening leave since April. Carl Harrison, former head of Asian equities left in February. And finance director Mark Webster is alleged to be no longer in his role.

Following last year's pre-pack, Kinsey Allen acquired green technology search firm Ruston Wheb International in November, prompting allegations that diversified away from financial services at the wrong time.

The CEO of one search business said the London market is dead: "Hiring volumes in some front office areas in the UK are as bad as at the bottom of the downturn. The UK is very stagnant and I don't see that changing any time soon."

Kinsey Allen CEO Ken Brotherston said recent departures are symptomatic of recalibration: "We are looking at the business and focusing on the areas that are making money," he says.

However, other senior recruiters say there's still plenty going on in the middle and back office. "The contingent space is very strong right now," one assures us.