The new regional CFO of financial services firm KPMG has said that he will help in creating a "new generation of PLCs" in the Midlands.
Steve Hollis believes that there are not enough public limited companies (PLCs) in the region, the Birmingham Post reported.
He told the paper: "The biggest change is the drift of PLCs from the Midlands down to London and abroad. There were more than 100 then and now there are closer to 50."
Mr Hollis, who has a decade of experience in the sector from working in London and Europe, believes that the Midlands needs to concentrate in local entrepreneurs and make sure smaller businesses in region grow to become larger firms.
Companies that are knowledge-based or technology-based will be the most likely to be successful in the future, Mr Hollis anticipates.
When the current head of KMPG Mel Egglenton leaves in June, Mr Hollis will take up his role. He will then be in charge of the financial services firm's offices in Leicester, Nottingham and Birmingham.
In January this year the value of retail sales in stores that had been open for at least a year was 0.7 per cent weaker than the previous year, a survey by KPMG and the British Retail Consortium discovered.
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