FDM Group

Last updated

FDM Group Limited
Formerly
  • FDM Group Plc (2005–2010)
  • F.D.M. Group Plc (1998–2005)
  • The Longueville Group Plc (1995–1998)
  • Flavell Divett International Plc (1991–1995)
  • Teamsquare Plc (1990–1991) [1]
Company type Public
LSE:  FDM
Industry IT Services
FoundedSeptember 25, 1990;33 years ago (1990-09-25) [1]
Headquarters
London
,
United Kingdom
Number of locations
18
Key people
Services
RevenueIncrease2.svg £334.0 million (2023) [2]
Increase2.svg £55.0 million (2023) [2]
Increase2.svg £40.8 million (2023) [2]
Number of employees
5,500 (2024) [3]
Website fdmgroup.com

FDM Group Limited [1] is a British multinational information technology (IT) consulting company headquartered in London, United Kingdom. It is composed mostly of university graduates, returners to work and ex-military personnel, who are trained in the FDM Group academies before working as consultants for one of FDM Group's clients, primarily financial institutions and banks around the world. It is listed on the London Stock Exchange.

Contents

History

FDI was founded in Brighton by Rod Flavell, who became chief executive, and his wife, Jacqueline Flavell, in 1990. [4] They were joined by Brian Divett, who became chairman, and Julian Divett, who became chief operating officer, and the firm was named Flavell Divett. [5] The company focused on IT recruitment until acquiring Mountfield Software in 1995. [4] In 1998 the name changed to FDM Group to reflect this acquisition and the company began hiring, training and placing their own consultants (called Mounties) on-site with their clients. [6]

In April 2005, FDM Group floated on the Alternative Investment Market, raising £3 million net for the company. [7] By 2009, the company completed a management buyout led by Rod and Sheila Flavell and Andy Brown, with the support of Inflexion, to once again bring the company private. [8] In June 2014, FDM listed on the UK Stock Market, this time valued at £308 million on the London Stock Exchange. [9]

Services

In March 2024 FDM Group underwent a brand refresh. As part of their new identity and offerings, FDM unveiled five specialist practices to deliver business and tech consultancy services. The five practice areas are: Software Engineering, Data & Analytics, IT Operations, Change & Transformation and Risk, Regulation & Compliance. [10]

Training and initiatives

FDM Group's model involves recruiting recent university graduates, returners to work and ex-forces to turn into consultants for their clients. Individuals go through several weeks of training in one of FDM Group's academy facilities before signing a two-year contract with the company to work as a consultant. As consultants, the employees work on the site of their clients which are mostly in the banking and finance industry. [11]

FDM Group has a Women in IT initiative focused on hiring and inspiring women to pursue jobs in STEM fields. As part of their efforts, they have sponsored the 2013, 2014, 2015 and 2016 everywoman in Technology Awards in London. [12] FDM Group sponsored the Wall Street Rocks charity concert. [13]

Concerns have been raised over the contracts signed by the company's trainees. In 2018, Frank Field, a Member of Parliament in the UK, wrote a letter to government's business secretary, asking for an official inquiry into their business practices. The letter also raised "significant doubts" about whether the £20,000 fees imposed if candidates leave the programme before their two-year period reflected the true costs of training. The scheme was likened to indentured servitude. [14] Legal challenges were raised against both FDM and Capita, another outsourcing organisation, over the fees. One former trainee of FDM told The Guardian that they did not enjoy the job in which they were placed, that the training included general advice, such as how to write emails, and that there was "so much room for manipulation and coercion in the contract". [15]

In 2018, the Ministry of Labour in Ontario, Canada ruled that the fee charged by FDM to a worker who left a job at the Royal Bank of Canada before their contracted period was illegal under the Employment Standards Act. Following the ruling, FDM Group reworded their contract but retained the fee. [16]

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References

  1. 1 2 3 "FDM Group Limited overview - Find and update company information - GOV.UK". Companies House . 25 September 1990. Retrieved 3 August 2023.
  2. 1 2 3 "Annual Results 2023". FDM Group. Retrieved 20 March 2024.
  3. ↑ "Employee Assistance Programme". FDM Group. 29 July 2022. Retrieved 12 February 2024.
  4. 1 2 "Fast Track 100". Fast Track. Archived from the original on 8 August 2016. Retrieved 5 March 2021.
  5. ↑ "Soap opera-style saga may still have long way to run". The Financial Times. 1 October 2009. Retrieved 5 March 2021.
  6. ↑ "FDM". Complete University Guide. Retrieved 2 June 2017.
  7. ↑ "FDM Group". Money and Business. 2 October 2005. Retrieved 2 June 2015.
  8. ↑ "How to buy back your business". Real Business. 9 October 2011. Retrieved 2 June 2015.
  9. ↑ "FDM Group completes IPO with £308.5m market cap". Global Capital. 17 June 2014. Retrieved 6 March 2020.[ permanent dead link ]
  10. ↑ "New initiative designed to 'revolutionise' global digital skills training". DPA on the net. Retrieved 26 March 2024.
  11. ↑ "Computing & IT Careers". FDM Group. Retrieved 2 June 2017.
  12. ↑ Kayleigh Bateman (20 March 2015). "Winners of the 2015 FDM everywoman in Technology Awards announced". Computerweekly.com. Retrieved 2 June 2017.
  13. ↑ "Wall Streeters Trade Pinstripes for Chords". New York Times. 12 July 2012. Retrieved 2 June 2017.
  14. ↑ Butler, Sarah (16 June 2016). "Government urged to investigate Capita and FDM Group's training schemes". The Guardian. Retrieved 4 June 2021.
  15. ↑ "Capita and FDM Group face legal action from former employees over exit fees". The Guardian. 1 June 2018. Retrieved 4 June 2021.
  16. ↑ "Editorial | Ontario must end abuses by temp agencies". The Toronto Star. 25 August 2020. ISSN   0319-0781 . Retrieved 15 November 2021.
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