Executive searches fall as financial services bucks the trend, says AESC report
9 May 2014
The average number of searches started by executive search firms fell by 7.7% in the first quarter of 2014 compared with the first quarter of 2013, according to the Association of Executive Search Consultants (AESC) ‘State of the Executive Search Industry Report’.
Fri, 9 May 2104The average number of searches started by executive search firms fell by 7.7% in the first quarter of 2014 compared with the first quarter of 2013, according to the Association of Executive Search Consultants (AESC) ‘State of the Executive Search Industry Report’.
However, the number of new searches in Q1 2014 was 7.3% higher than in Q4 of 2013.
Financial services bucked the trend, with the average number of searches 10.9% higher in Q1 of 2014 than in Q1 2013.
However, industrial (-18.2%), life sciences/healthcare (-8.9%), consumer (-7.1%) and technology (-0.3%) all registered year-on-year declines during the quarter.
There was also positive news on industry revenue, which grew by 15.6% year-on-year. Overall, AESC estimates that annual net revenues for the worldwide retained executive search totalled €10.57bn (£8.63bn).
AESC president Peter Felix says: “It is encouraging to see the momentum of the past several quarters continued into the first quarter of 2014.
“The main story, however, is that financial services is back as a growing sector for executive demand, now that major restructurings have occurred and there is a clearer picture of where financial institutions will focus their efforts.”
However, the number of new searches in Q1 2014 was 7.3% higher than in Q4 of 2013.
Financial services bucked the trend, with the average number of searches 10.9% higher in Q1 of 2014 than in Q1 2013.
However, industrial (-18.2%), life sciences/healthcare (-8.9%), consumer (-7.1%) and technology (-0.3%) all registered year-on-year declines during the quarter.
There was also positive news on industry revenue, which grew by 15.6% year-on-year. Overall, AESC estimates that annual net revenues for the worldwide retained executive search totalled €10.57bn (£8.63bn).
AESC president Peter Felix says: “It is encouraging to see the momentum of the past several quarters continued into the first quarter of 2014.
“The main story, however, is that financial services is back as a growing sector for executive demand, now that major restructurings have occurred and there is a clearer picture of where financial institutions will focus their efforts.”
