As 2011 comes to an end, we have taken the time to reflect on how this year has played out with respect to Transfer Pricing recruitment.

By and large, the majority of 2011 has been very buoyant in the international Transfer Pricing recruitment space. During the first 3-6 months, there was plenty of activity in the financial services sector with many banks, insurance companies and asset managers actively in the market for transfer pricing talent. There certainly wasn’t a shortage of demand from candidates either.

Towards the latter half of 2011, world stock markets fluctuated wildly with the news of some very large European economies being overstretched financially with little to no growth adding to the public purse in order to pay down mounting sovereign debt. At the time of writing, a clear plan has still not been hammered out although, many commentators are watching with baited breath to see what deals can be agreed between the Eurozone treaty partners.

It is not all doom and gloom though. Asia remains a reasonably happy place in terms of transfer pricing recruitment. TP International was one of the sponsors at the highly successful Transfer Pricing Summit in Hong Kong in October and there was lively dialogue about where transfer pricing as a discipline and area of expertise was heading in the Asia-Pacific region. As more and more countries have brought in transfer pricing rules, there has been a continual evolution in the transfer pricing landscape in Asia.

No longer are only documentation specialists required; documentation is now being heavily audited and tax authorities are being very aggressive about increasing revenue raising through TP enforcement. As such, highly skilled controversy and supply chain restructuring specialists are now heavily in demand in Asia (particularly if you have local language capabilities). Strategic thinkers, practical solutions and tactics are now the order of the day so there are plenty of opportunities for experienced TP professionals in a number of Asian countries.

Despite some of the uncertainly around the Eurozone and the viability of certain financial institutions, we at TP International are quietly confident that 2012 will be a very strong year in the transfer pricing recruitment marketplace internationally. Transfer Pricing is still high on the lists of things that keep Tax Directors awake at night and if there are holes in public coffers around the world, you can be certain that transfer pricing enforcement should be at the forefront of rectification measures. Subject of course to there being enough people being gainfully employed in the public services to go after transfer pricing with some rigor!

Lastly, we would like to thank all of our clients and candidates that we have worked with in 2011. Have a very Merry Xmas and a prosperous New Year from everyone at TP International.

See you in 2012 – with a few new surprises in store!