Executive search continues recovery

Fri, 26 Feb 2010

The executive search recruitment sector continued its recovery in Q4, according to research from the Association of Executive Search Consultants (AESC).

The research shows that while overall industry revenues fell by 32.5% in 2009 on 2008, Q4 registered a 7.3% annual increase in searches started and a significant slow down in revenue declines.

Global revenues were estimated to reach $7.43bn (£4.82bn) in 2009, down from $11bn in 2008.

Q4 saw yearly increases in the levels of senior executive search activity in Asia/Pacific, Central/South America and Europe, while North America was the only region not to experience an annual rise.

Peter Felix, president of the AESC, says: “The latest figures reveal new momentum as organisations become less reluctant to invest in upgraded or replacement senior management.

“Certainly the final quarter of 2009 has proved to be a launch pad for greater optimism in 2010 and we are already seeing evidence of this in the first few months of the year.”