With financial services in the doldrums last year, management consultancies had a miserable time…
But things are looking better once again. Work is already showing signs of picking up in the UK after a brutal 2009.
Financial services, normally a big earner for the industry, saw demand fall by 12 per cent during 2009. That was twice the slump in demand compared to 2008, and double the 6 per cent overall decline in consulting revenues according to a report by the Management Consultancies Association (MCA).
The MCA said anecdotal evidence suggested that the recovery began to bite last autumn, and the top end of the market – financial services companies – are back with decent sized projects.
MCA president Pat Newberry, a partner at accountancy firm PricewaterhouseCoopers, told CityAM: “Recessions accelerate change and stimulate higher levels of performance. If Britain has got through this period with lower unemployment than many feared, to a significant extent this was due to the efforts of thousands of management consultants who enabled their clients to cut costs, save jobs and weather the storm.”
Lets see how the ones looking at the public sector get on this year…
