The Board of Greatfleet PLC (AIM: GFG), the specialist recruitment business, announces the appointment of Greg McManus as Group Managing Director as of 25th March 2008.

Greg has over 19 years of proven success within the recruitment sector at Board level, across 3 leading international brands.

Greg joins from Huntress Search group after successfully restructuring the Finance/Accountancy division in preparation for significant external investment. Previous roles include Hays Plc and Michael Page International, both of which gave him extensive experience in opening new branches, the turnaround of offices and building new recruitment divisions.

His appointment comes at a significant time for Greatfleet plc having announced the completion of a placing to raise £1.48 million on the 7th April 2008.

Colin Gerstein, Chief Executive Officer of Greatfleet, commented: "We are extremely pleased that Greg is joining Greatfleet. Greg will be a valuable asset to the Company and further strengthen the management team, maintaining the positive momentum that we have seen in the past few months."

http://www.onrec.com/newsstories/21046.asp

The news may help allay fears raised in November that some City firms would see their bonus pools cut by as much as 50 percent amid the ongoing crisis in the credit markets. Robert Thesiger, chief executive of Morgan McKinley's parent company, Imprint Plc, said that despite the credit crisis which followed the US sub-prime mortgage meltdown, 2007 was in fact a "strong year" for the City.

He said: "Following on from a record bonus round in 2006/2007, speculation surrounding this year's bonuses was enormous, particularly given the significant volumes of write-downs by banks in the last quarter of the year.

"However, putting the impact of the credit crunch aside, 2007 was still a strong year for financial services and for the majority, bonus payouts in middle and back office functions appear to reflect this."

But while workers appear to be on the whole content with their bonus packages, research shows that banks have taken a more cautious, 'wait-and-see' approach to hiring at the start of the year.

New job vacancies fell 20pc to 8,127 in January 2008, compared to January 2007. Nevertheless, this is a marked pick-up - of 57pc - from the uncertainty in December when the number of new jobs dropped to 5,166.

Mr Thesiger said: "We are not going to have any clear view on how the 2008 financial services hiring market is going to shape up until the end of March, post-bonus season and once the 'credit crunch' has worked its way fully through system. Only then will organisations feel more confident forecasting growth plans for 2008 and beyond."

The average salary in the sector rose 5pc in January, to £53,246.

With the threat of redundancy looming above many City workers, however, the figures have been dismissed by sector specialists as misleading and a "triumph for spin".

John Lacey, managing director of Longbridge Search & Solution, said the research failed to address the two-thirds of employees whose financial rewards have been disappointing this year.

"Such is the job market at the moment that we are seeing huge churn of people considering their career options as the threat of redundancy looms," he said.

"There are still some major players in the City who are yet to announce their bonus pots and for those disappointed with their remuneration, moving jobs is a good bet.

"Whether it's boom or bust, financial institutions will always be on the lookout for high achievers - there is a continued war for talent and skilled professionals are always in demand."

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/14/bcnbonus214.xml

John Lacey, Managing Director of Longbridge Search & Selection said: "Fleet has enjoyed tremendous success finding the best talent for our London clients for almost 20 years. By expanding our business across the UK we will find the best professionals nationwide for our big clients and also bring our expert services to new clients in each of these cities. Companies who need finance professionals in Scotland, England and Ireland can now have one recruiter for all their needs."

Longbridge Search & Selection will incorporate the operations of Longbridge International, Longbridge Selection and Fleet Search & Selection.   Delighted with the launch of the new company John Lacey said: "Longbridge has enjoyed tremendous success for almost 20 years.  Over that time, we have grown our specialist services in legal, financial and IT services executive recruitment across the UK.  Our increasingly national presence demands a more coherent brand identity, and we hope Longbridge Search & Selection will build on the value that Longbridge and Fleet already hold as separate brands. Our decision to rebrand three separate service propositions as Longbridge Search & Selection emphasises the synergies that can be achieved by bringing these businesses together. " 

As part of the rebranding exercise, Longbridge Search & Selection has launched a new brand design.  The new corporate logo is the result of extensive national research conducted with Longbridge employees, candidates and clients.  In addition to the new logo, Longbridge has also redesigned its web site at www.longbridge.com.  John Lacey, Longbridge MD, unveiled the new look to the company's 70 employees today.

John Lacey said: "Our fresh corporate identity reflects a new lease on life for Longbridge Search & Selection.  We have retained and developed the dedicated and distinctive search and selection approach each former brand championed.  Our core values remain those of expediency, professionalism and expert specialism.  We are still firmly committed to those standards, our philosophy, and our principles."

LONGBRIDGE SEARCH & SELECTION

Longbridge Search & Selection launched on 28th January 2008.  The business is comprised of three formerly distinct brands: Longbridge International, Longbridge Selection and Fleet Search & Selection.  Longbridge Search & Selection continues to deliver a high level of service, placing executive candidates in legal and financial services and IT across the UK.
Longbridge Search & Selection is a subsidiary of Greatfleet plc.

Longbridge International has been a legal executive search service since 1989, placing high quality partners and teams in leading global lay firms and multinational corporations.  Longbridge International also boasts one of the premier Executive Search teams with the Private Banking and Wealth Management arena on a global basis.  Longbridge Selection, established in 2006, specialises in the two year PQE to salaried Partner marketplace within the UK across Private Practice, Investment Banking and FMCG.  Fleet Search and Selection has a strong reputation for recruitment within financial services dating back 25 years. 

JOHN LACEY, MANAGING DIRECTOR OF LONGBRIDGE