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LA Recruitment Moves Banking To HSBC

LA Recruitment Moves Banking To HSBC

Aberdeen-based recruitment firm LA Recruitment has moved its UK banking to HSBC as the company eyes future expansion in international markets.

The company, which already banks its Qatar operations with HSBC, took the decision to rebank with HSBC in the UK as it embarks on a period of significant growth.

Established in 1983, the company was acquired by Jacqueline Philip, Alistair Reid and Mhairi Preston in 2002, who expanded the footprint of the business to provide a global recruitment service, opening offices in Doha in 2007 and Houston in 2010.

Specialising primarily in the oil and gas sector, LA Recruitment now employs 19 people who source quality employees to fill roles in key disciplines around the world, with an increasing focus on USA, Africa and the Middle East.

Following year on year growth, the company recorded a turnover of &pound10m turnover in 2012 and has re-banked to help fulfil its potential and invest in global development.

The new relationship will see HSBC providing trade guarantee facilities to support the company as it tenders for new contracts, and capital facilities to assist its growing operations in UK and Qatar.  Through its international network, the bank will also assist with local market knowledge in new markets including Korea and Japan.

Mhairi Preston, co-owner of LA Recruitment, said:

“We have ambitious growth plans for the business in 2013 and it was important to partner with a bank that could support our long-term vision and achieve our global growth aspirations. HSBC’s international expertise and capabilities catalysed our interest, and we appointed them as our Qatar banking partner six years ago. Their comprehensive understanding of our business and excellent service led us to switch our UK banking requirements to HSBC.

“Having our UK and Qatar operations serviced by the same bank has made handling our finances a great deal easier, and as our American operation continues to expand and diversify we are looking towards switching our US banking requirements to HSBC. We’re hoping the relationship will continue to move forward as we focus on growing our global business.”

Susan Rowand, Area Commercial Director for HSBC in North of Scotland, said:

“From our initial meetings with Mhairi and the team, we were struck by their strong leadership, innovative thinking, and their ability to successfully embrace growth opportunities at home and abroad over the last 13 years. We’re confident that our international capabilities and global presence will help the company to maximise its potential as it continues to build its worldwide profile.

“LA Recruitment has exciting plans for the future and we are looking forward to working with the company as it expands its operation.”


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