LEADING EXECUTIVE SEARCH FIRMS
The executive search industry is enjoying prosperous times with record net revenue increases of 17.2 percent in 2006. "We are thrilled to see global executive search revenues surpassing the previous record levels experienced in 2000," says Peter Felix, president of the Association of Executive Search Consultants, a trade organization with 1,200 executive search consultants in 42 countries worldwide.
Analysts anticipate the good times will keep rolling for the industry in 2007. The AESC reports new global executive searches increased 10 percent from the last quarter of 2006 to the first quarter of 2007. Meanwhile, global revenues are on the rise as well, with 11 percent quarterly increases and an overall projected yearly spike of 25 percent from 2006 to 2007.
North America is the largest executive search market in the world. The region accounted for 43 percent of all retained executive search activity last year. Europe was slightly behind at 34 percent.
The financial industry is fueling much of the growth in the executive search industry, accounting for 25 percent of activity. The industrial sector and consumer products companies round out the top three, with 22 percent and 17 percent of executive searches, respectively. —Gina Ruiz