A look at the accounts of three top financial services headhunting firms
In the wake of Kinsey Allen's death, we visited Companies House to see how other big financial services search firms in London are doing.
What we found was inconclusive. Not many search firms produce comprehensive accounts. And not many have filed their accounts recently. Nevertheless, there were some instances of interesting information. We've summarised them below.
They confirm that headhunters can be very well paid. Whether other firms are suffering in the same was as Kinsey Allen is less determinable: none of the search firms we found had filed results since the end of 2010.
The Rose Partnership
The Rose Partnership Limited went into voluntary liquidation in April 2010 and remerged as the Rose Partnership LLP.
In the 12 months ending June 2010 it had revenues of 6.9m and made profits of 4.6m, all of which was disbursed between 9 members, suggesting average remuneration of 511k per head. The highest remunerated member (who we assume to have been Philippa Rose) received 2.7m.
Sainty Hird
Sainty Hird's most recent accounts cover the year to December 31st 2010.
The company made revenues of 9.6m last year, up 60% on 2009. 25.2% of this was gross profit, down from 38.1% in 2009.
The company employed 16 people and paid them an average of 87.5k each. In 2007, it paid marginally more: an average of 94k each.
Sheffield Haworth
Sheffield Haworth hasn't filed any recent accounts: the most up to date information we could find was for the year ending 31st December 2009, when profits fell 82% versus 2008.
In 2009 Sheffield Haworth made 17 redundancies and paid its 78 staff members an average of 100k each. This was an increase on 2008, when it was more profitable but paid an average of 85k per head.
