Financial recruitment consultancy, the Profusion Group (Profusion), has acquired executive search and recruitment firm Gilbert and Robinson as part of its plans to further expand into the Asian market.
Profusion chief executive Rod Jones said Gilbert and Robinson operated primarily from Sydney and Hong Kong and had executed the vast majority of its assignments in Asia.
He said Profusion's push into the region was a result of growing demand from existing clients who were also expanding their operations in the Asia Pacific.
"Many banks and financial institutions are broadening their businesses into Asia and so we are seeing growing demand from our existing clients for executive search and recruitment services in the region," Jones said.
As part of the acquisition, Gilbert and Robinson founder and director Mark Robinson will join Profusion to lead its new activities in his specialist fields of equity research and equity sales, mergers and acquisitions, private equity and equity capital markets.
"With the acquisition of Gilbert and Robinson we now have new capability in equities that will enhance our investment banking offerings considerably," Jones said.
Meanwhile, Profusion will open an office in Singapore in January, which will be spearheaded by Profusion investment banking and financial markets recruitment specialist Nick Hazlett.
Jones said over the next 12 months, Profusion would be focusing on increasing its presence in middle and back office recruitment and executive search in Asia to complement its strong presence in the sector in the Australian market.
He said Profusion would also look to recruit more staff to grow its Asian operations both from its head office in Sydney and locally in Asia.
