PracticeConsultingThe Financial Week Ahead – Job firm set to list.

The Financial Week Ahead - Job firm set to list.

Recruitment agency Robert Walters is due to return to the London Stock Exchange next Thursday after a two year fling with struggling US Nasdaq-listed Staffmark.

The accountancy recruitment company hopes to raise £4m to develop a global database and web capacity as it goes it alone.

Staffmark is shedding Robert Walters as part of a business overhaul which will see it refocus on e-business.

Philippa Brook, director of marketing at Robert Walters, said the ill-fated merger with its US rival ‘hadn’t worked out as anticipated.’

The flotation will see Robert Walters valued at between £130m and £165m, and shares priced between 160p and 200p.

Group finance director and chartered accountant, Peter Greenslade, 42, who joined the company in February, will be among board members looking at the listing to strengthen improved performance despite the link-up with Staffmark.

In its last year to December, the board reported a pre-tax profit of £11.2m and turnover of £47.8m.

Greenslade said: ‘It’s great to be coming back as a publicly quoted company at a point when the trend to globalisation is creating a single world market for professional staff.

‘A share of the flotation proceeds will be invested in a global candidate database systems to improve efficiency and proprietary software to deliver a step-change in our service to clients.’

Established in London in 1985 by Robert Walters in a Regent Street backroom, the company now employs 680 staff with 17 offices worldwide.

Expansion plans are now focused on a growth in its finance and accountancy presence in France since a Paris office was opened last year, as well as Spain, Italy and Japan following the relaxation of labour laws.

Greenslade qualified with Binder Hamlyn in 1983 before working for GrandMet, De La Rue and ICL, where he was worldwide finance director for retail systems.

jerry_frank@vnu.co.uk

www.robertwalters.co.uk.

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