PA bails on planned TMP deal

PA CONSULTING Group has called off the proposed transfer of its recruitment business to TMP Worldwide.

PA executive chairman Jon Moynihan said it was clear there was a lack of fit between the two businesses and their different business systems.

“Both parties also had some fundamental concerns over people issues,” Mr Moynihan said.

PA is continuing with plans to grow its recruitment business but will now keep it inhouse.

“Our first quarter results are very strong with outstanding results in April and on into May,” Mr Moynihan said.

“These figures confirm my confidence we can build our recruitment business much further,” he said.