Two recruitment firms working in areas such as wealth management in Asia are to merge.

A pair of financial services executive search firms in Asia are joining together under the Carraway Group brand, continuing the merger and acquisition trend seen in the associated banking and wealth management sectors.

GreenGroup Executive, founded by Nick Green in 2013, and Carraway Group, established by Jonathan Hollands and Daren Miller in 2008, have combined their executive search platforms in Asia, the firms announced in a statement yesterday.

The merger, along with Carraway’s alliance with Burnham & Partners in Singapore, is a “strategic reaction to developments that have occurred in the Asian financial markets in recent years”, the statement said.

Green will consolidate his investment banking practice with Carraway’s existing platform. He will work with Hollands to further expand Carraway’s wealth management capabilities, particularly in the asset management and private equity space.

“This is an exciting period of development for Carraway, by combining our platforms we are well positioned to increase client coverage and target future growth opportunities in the wealth sector by providing a broader and more efficient delivery mechanism to existing clients,” Hollands said.

Green has specialised in executive search since his graduation in 1996. Initially in London, he relocated to Hong Kong in 2000. Since his move to Asia, Green has focused exclusively on senior management appointments across the financial services sector, focusing on investment banking, capital markets and private equity.