The Daily Telegraph

Regulator seeks headhunter­s

- By Lucy Burton

THE under-fire City watchdog is planning to spend £600,000 on headhunter­s over the next three years after clashing with staff over pay reforms.

The Financial Conduct Authority (FCA) has opened bidding for the lucrative contract, which will begin in November.

The move comes after the City watchdog, which has 4,300 staff, faced its first ever strike from staff amid a dispute over pay and bonuses. Employees have also told bosses that two days a week in the office is the most they can manage.

The FCA last year spent £460,000 on hiring spin doctors from a leading City PR firm following the pay revolt. A spokesman said the new recruitmen­t contract is necessary because the regulator is increasing its headcount and hiring for more technical roles.

“We are on course to welcome around 1,000 new colleagues this year, with over 500 having joined already,” he said. “Our digital delivery centre opens next month as part of what will be a new 100-strong FCA office in Leeds, and our largest ever cohort of graduates will join in September.”

The new recruitmen­t contract, which was first reported by Financial News, has a maximum value of £600,000.

According to tender documents, the headhunter will be tasked with assessing candidates and making recommenda­tions to “mitigate any transition­al risks”.

Newspapers in English

Newspapers from United Kingdom