FEATURE/Heidrick & Struggles Tops U.S. Executive Search Rankings.FITZWILLIAM Fitzwilliam (or FitzWilliam) may refer to: Persons:
-- 20 Year Reign of Korn/Ferry Ends -- There's a new U.S. market leader in executive search for the first time in two decades. Heidrick & Struggles edged past Korn/Ferry International in annual U.S. revenues for 1998, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. recently-released rankings in the March issue of Executive Recruiter News (ERN), published by Kennedy Information. This is the 28th year that Kennedy Information has published the rankings, which benchmark the search profession. Among the other highlights from ERN: -- Executive search revenue growth was in double digits Double Digits was a pricing game on the American television game show, The Price Is Right. Played from April 20, 1973 through May 18, 1973's show, it was played for a car and used small prizes. once again -- "Big Five" Global Search Firms revenues exceeded 1.3 billion -- Growth will continue in 1999, boosted by Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the search firms and mergers and acquisitions Heidrick & Struggles gained the top position on the U.S. charts with revenues of $178 million, less than one percent more than Korn/Ferry's revenues of $177 million. Since 1979, Korn/Ferry has maintained the top spot, although last year, Heidrick trailed by only $4 million. "With such a slim lead, Heidrick will need to work hard to hang onto this crown," said Joseph Daniel McCool, editor of Executive Recruiter News. "But the timing couldn't be better for Heidrick & Struggles, which is about to go public with 4.2 million shares. Being the number one U.S. search firm is a healthy incentive for investors." Korn/Ferry retained its position as the largest firm worldwide, with $339.08 million in revenue, compared to the $324.8 million reported by runner-up Heidrick & Struggles. SpencerStuart again ranked third both in the U.S. and worldwide, with global revenues of $ 238.8 million. The following are the 10 largest retained executive search practices in the US: -0-
1998 # of Recruiters
Firm U.S. Revenues U.S. Growth % in U.S.
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Heidrick & Struggles $ 178.0 million 16% 165
Korn/Ferry $ 177.0 NA 277
SpencerStuart $ 126.0 6% 100
Russell Reynolds $ 93.4 -1% 80
LAI Worldwide $ 84.1 NA 114
TASA Worldwide $ 39.0 255% 64
A.T. Kearney $ 38.3 4% 52
Egon Zehnder $ 36.0 22% 36
Ray & Berndtson $ 32.5 -10% 80
DHR International $ 31.0 35% 105
The Big Five in Search The activity in America reflects the overall health of worldwide search. Along with Heidrick & Struggles and Korn/Ferry, SpencerStuart, Egon Zehnder International Egon Zehnder International is a leading global executive search firm. It was founded in 1964 by Egon Zehnder. History Realizing that the only way to overcome the resistance encountered by executive search in Europe was to adopt an entirely professional approach marked by and Russell Reynolds Associates achieved healthy revenues on a global basis. "These firms tower over the search landscape," said McCool, "with the growth of Heidrick & Struggles at 26% and Egon Zehnder at 20% being particularly notable." Ones To Watch The largest jump on the U.S. and worldwide lists goes to TASA Worldwide, the Internet-allied global firm formerly known as TASA International. Both a strong 1998 and parent TMP TMP (thymidine monophosphate): see thymine. Worldwide's acquisitions of Johnson Smith Johnson Smith may refer to: People
"What does Executive Recruiter News see in the year ahead? More growth, competition with Internet initiatives, hectic hec·tic adj. 1. Characterized by intense activity, confusion, or haste: "There was nothing feverish or hectic about his vigor" Erik Erikson. 2. U.S. activity and more mergers and acquisitions," McCool said. Executive Recruiter News is a monthly publication featuring news, analysis and opinion on the changing executive search industry. Recent features have included a look at how the Internet is changing the recruiting process, a debate on the recent spate of search firm IPOs and an analysis of how firms measure success. For a subscription to ERN please call Kennedy Information at 800/531-0007. Since 1970, Kennedy Information has been the leading information source to the management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and executive recruiting communities. Kennedy's editors and analysts are the world's foremost experts on these industries. In addition to the monthlies Consultants News and Global IT Consulting Report and the bi-monthly magazine, Consulting, the firm publishes in-depth research reports on critical topics including consulting compensation, fees and pricing, recruiting and mergers and acquisitions. The company is based in New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). with bureaus in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , and seven countries outside the US. |
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