Norman Broadbent, the global senior and board executive recruiter, has sold its 20% stake in Norman Broadbent Spain, completing its brand consolidation.

Chairman Pierce Casey and chief financial and chief operating officer James Webber told Recruiter the sale was seen as “mission accomplished” in terms of a three-year reorganisation of the London-headquartered company.

The sale coincided with the end of a licence agreement to use the Norman Broadbent name.

This means the company has now regained full control of all Norman Broadbent intellectual property after previous agreement terminations of inherited licences in Canada, Italy, North African countries and Middle Eastern countries.

Casey and Webber said shareholders felt the widespread use of the name was a diminishing factor in the positioning and prestige of Norman Broadbent. 

They said the company was trying to reposition itself as a top-tier executive search agency.

The sale was completed yesterday [30 July].