The new entity will be branded Talent and will focus on building a business which offers tailored contract and permanent staffing solutions to clients.
Under the joint venture, Coit will continue to operate its RPO business which it plans to expand by leveraging Talent's global presence and infrastructure. Wyatt Hall, former regional vice-president of contracting at IT recruiter Modis, will head the joint venture as president, and has invested in the business.
Richard Earl, founder and executive chairman of Talent, who is chairman of the joint-venture, says Talent will benefit from access to Coit's existing networks and infrastructure, including 32 staff and a state of the art premises in downtown San Francisco.
Earl says the joint venture is modelled on Talent’s “highly successful” UK and European operations, which combined the strength of Talent’s recruitment and candidate management processes and procedures, with the on-the-ground network of an existing services provider.
"Our clients can now work with Talent across four continents, ensuring they have seamless access to a global pool of top-quality Tech and Digital professionals, wherever they choose to set up operations,” Earl said.
“We are poised to see a major shift in employment trends and the approach to contingent workforce management. This joint-venture will allow us to rapidly scale in this crucial market ensuring we meet our five-year growth targets ahead of schedule through the establishment of three regional hubs, one in San Francisco servicing the West Coast, one in the New York area to service the North East and a third hub in the Austin area to service the South West.
“There is no better joint venture partner for Talent than Coit. Joe and Tim have built a tremendous business over the past fifteen years, one which mirrors Talent’s culture of client service, innovation and reputation for excellence.”
Coit co-founders Joe Belluomini and Tim Farrelly said that the group was looking forward to drawing on Talent’s expertise to provide a broader service offering to clients.
“Talent’s unique and innovative approach to recruitment, including the world-first Talent Engage platform, will ensure that our clients have access to the same high levels of service in recruitment and candidate management that they receive from our RPO offering,” Belluomini said.