SOURCE: Executive Recruiter News

March 16, 2005 16:15 ET

Global, U.S. Executive Recruiting Activity Surges; Korn/Ferry Tops Rankings

Largest Global Executive Search Practices Up 25%; Largest U.S. Retained Search Firms Add 21%

PETERBOROUGH, NH -- (MARKET WIRE) -- March 16, 2005 -- A broad and sustained increase in executive recruiting activity in the United States and worldwide helped retained executive search consulting firms snap a three-year slump and fueled double-digit increases in professional fee revenue for the largest of them in 2004.

The 20 largest global retained executive search consulting practices posted a 25% gain in professional fee revenue in 2004, while the 40 largest retained executive search firms in the United States registered a 21% gain in revenue, according to the just-released annual search firm rankings issue of Executive Recruiter News (ERN), whose publisher, Kennedy Information, Inc., has tracked the global business of executive search since 1970.

"Corporate management is shifting its focus from cost-containment to business growth, and it's investing in executive talent to seize new opportunities, differentiate from the competition, and build and align workforces to meet the demands of the global economy," says Joseph Daniel McCool, editor in chief of Executive Recruiter News. "The broad and sustained increase in executive recruiting activity we witnessed in 2004 signals that employers around the world are beginning to rebuild the people side of their businesses, and that should bolster the jobs market at all levels in 2005."

Korn/Ferry International topped both the Executive Recruiter News global and U.S. retained executive search consulting rankings, reporting $438.1 million in worldwide professional fee revenue and $233.4 in North America fee revenue for the 12 months ended January 31, 2005. Privately held Spencer Stuart ranked second on both rankings lists, reporting $378.1 million in global fee revenue and $208.3 million in U.S. fee revenue for its fiscal year ended Sept. 31, 2004. Heidrick & Struggles ranked third, reporting $375.4 million in global fee revenue and $201.8 million in U.S. revenue in calendar 2004.

Executive Recruiter News is published monthly by Kennedy Information, Inc., based in Peterborough, N.H. The company recently published the 2005 Corporate Edition of The Directory of Executive Recruiters and will hold Executive Search Summit 2005 at The Princeton Club in New York City on Oct. 20-21.

About Kennedy Information, Inc.

Founded in 1970, Kennedy Information, Inc. is the leading publishing and research firm covering the global business of executive recruiting. Kennedy Information publishes Executive Recruiter News, as well as Recruiting Trends and both the Corporate and International editions of The Directory of Executive Recruiters, the world's oldest and largest resources to organizations considering the engagement of executive search firms. Kennedy Information is a subsidiary of the Bureau of National Affairs, Inc., based in Washington, D.C.

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