UK operations feel the drain

Elizabeth Fournier
NET fee income growth of 21 per cent may be good for Robert Walters’ bottom line, but what it reveals about the UK is much more worrying. For months commentators have been talking about a flight of talent from London heading eastwards, and income growth of 28 per cent for Robert Walters in Asia compared to just five per cent in the UK will do nothing to allay fears. All eyes will be on an update from rival Hays this morning to see if its numbers back up the trends, but with brokers already calling its overseas business undervalued, recruiters are likely to focus their efforts – and their capital –­ elsewhere.