NRG Announce Chris Rigg As New CEO
NRG Announce Chris Rigg As New CEO
Northern Recruitment Group (NRG) has announced the appointment of a new chief executive to lead the Newcastle-based business.
Chris Rigg, currently Corporate Director at Barclays in the North East, will join the recruitment business in October, taking over from current chief executive and founder Lorna Moran who will move into the role of chairman.
The announcement came as the group reported its latest annual results and predicted an upturn in demand as the economic recovery continues.
Lorna, who has led NRG for more than 30 years, predicted the company was well placed to benefit from the upturn in the economy with its new leadership team in place.
She said: “Chris brings a wealth of business experience to the role and the Board is confident that he and Managing Director Therese Liddle will drive NRG forward in the coming years.”
In his current role at Barclays, Chris is responsible for working with many of the bank’s leading corporate clients. Prior to joining Barclays, Chris worked for Eaga plc where he fulfilled a number of roles including Group Corporate Finance Director and Managing Director of Eaga Clean Energy Limited.
During his time at Eaga Chris was also responsible for leading the country’s largest, and only multi-customer, PFI fundraising to support the installation of solar energy for domestic properties in the UK, which raised £300 million.
Chris, who will lead the day-to-day operations of NRG, is a chartered accountant who trained with Price Waterhouse before joining Deloitte’s corporate finance advisory team in Newcastle, where he spent 9 years. He became a Director in 2007.
She said: “During that time our business has recruited thousands of people for North East businesses and organisations. I am still passionate about the North East so I’ll remain very active in helping businesses in the region to grow by finding the right people for them, but I know that Chris and Therese will make a great job of running and developing the business for the future.”
The group’s recently published accounts for 2012 demonstrated a “robust performance in challenging conditions”, said Lorna.
“Recent economic news indicates that the economy as a whole is moving in the right direction at last but even last year we found consistent demand in our Executive Search Division. Our Specialist Teams in Finance, IT and Engineering were also very busy with energy sector skills particularly sought after.
“We are finding that candidates are more confident about moving jobs than when we entered this recession. Sales directors have always remained confident, it’s in their DNA, and IT directors always want to be working with the next generation of software. However, we found that even excellent candidates in HR, engineering and finance definitely went through a period when they were ultra-cautious about changing jobs and I’m glad to say that’s no longer the case.
“We have noted quite an upturn in Interim placements too, often where the client wants a specialist for a limited time on a particular project. This market has always been there but it has expanded in recent years in response to public and private sector restraints on increasing their permanent headcount.”
Managing Director Therese Liddle said: “Last year we saw a slackening in demand for temporary workers from clients and our overall turnover was £19 million, £2 million lower than 2011, but this year we are seeing a return to growth in this sector.
“Larger clients see a flexible workforce as a strategic requirement, not a cost saving exercise, and while the UK and indeed the global economy is emerging from recession they are likely to retain this strategy. However, when you outsource part of your workforce you need to have complete trust in your supplier’s processes and their values. We’ve been in this business for more than 30 years and our clients trust us not to cut corners in the recruitment process.
“For 2012 the business delivered a robust set of results with profit before tax at £1m (2011: £1.1m), bolstering its already strong balance sheet. Of course with interest rates where they are we get next to nothing on our cash but we like to be able to respond quickly to new client opportunities without recourse to loans or factoring. We can also take investment decisions rapidly and in 2012 we invested heavily in our IT systems to improve our productivity and security for our clients.
“With Chris coming on board to join an already strong business, our whole team is looking to 2014 and beyond to develop NRG to serve our clients and candidates ever better.”