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Interim managers 'offer more than consultants'
Interim managers are becoming more popular because they offer companies an alternative to external consultants, according to one industry expert.
Chris LaCorata, executive director of the Interim Association in the US, told Fortune that many firms are seeking experienced management figures that can address particular issues, fill a temporary leadership gap or oversee change from the inside.
This differs from the traditional model of consultancy firms, in which experts are typically brought in to study a problem and then "hand it off".
Mr LaCorata also told the magazine that the profile of interim management has grown in tandem with private equity takeover deals.
"The interim executive is perfect for their model. They're buying companies they might be restructuring," he explained.
According to recent data from the UK's Interim Management Association, the financial services sector continues to outperform other industries in terms of interim assignments.
However, the overall number of new assignments fell by 25 per cent last year as a result of economic uncertainty and widespread recruitment freezes.
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Categories: Financial Services