As a result of the deal, FDYL will expand its financial leadership recruitment services nationally, as a division of Woodrow Mercer Finance.
The £12m turnover Woodrow Mercer has specialised in IT, public sector and e-learning recruitment. It decided to join forces with FDYL to launch its new senior financial recruitment division.
A spokesman said: “FDYL will continue to run its own consultancy arm in support of Woodrow Mercer Finance, and the joint venture will see the firm expand immediately to operate offices in London and Birmingham, as well as a base in Leeds city centre and its existing base in Sheffield.”
The deal will see James Roach join the board, alongside FDYL directors Neil Muffitt, Mark Raven and Andrew Hill.
Dan Ostrowski of Birmingham-based Woodrow Mercer will also join the board of the new business, which will be based in Leeds.
FDYL managing director Neil Muffitt, said: “The senior financial recruitment specialism is very attractive to the marketplace and with the national reach and network of existing client relationships, this joint venture makes perfect sense for both businesses.
“We are able to retain the personal involvement and service that our very loyal client base in the North expects, but we will also gain resources and personnel to broaden our reach to cover the whole of the UK immediately.
“Overnight, we have gained access to the back office systems and economies of scale of a national recruiter.”
FDYL and Woodrow Mercer have ambitions to grow rapidly through the two firms’ combined base of active blue chip clients.
Dan Ostrowski of Woodrow Mercer Finance said: “We have been looking to set up a finance division for some time and were immediately attracted by the very consultative and strategic services offered by this well established firm. The senior team are all finance directors.”
FDYL and Woodrow Mercer Finance’s head office will be at 36 Park Cross Street, in the centre of Leeds, where a team of seven staff will initially be based.