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TOP STORIESBehold the executive search survivors18 June 2009By Sarah Butcher The great waning in financial services firms’ urge to hire has taken its toll on headhunters. But with recruitment finally starting to pick up again, some firms are emerging stronger and more diversified than before. They include the search firms below, all of whom have added headcount since the crisis began. Let us know if you think we’ve omitted anyone from the list. The UK-based international financial services boutique has survived the ultimate test: opening an office in the US and living to tell the tale. Its New York office opened in 2004 and, combined with offices in Dubai, Delhi, Hong Kong and Mumbai, now generates 40% of the firm’s revenues. Headcount is up 10% since the start of the crisis. 2). Omerta Group Originally a London boutique focused on structured credit, Omerta now has offices in Hong Kong and Moscow too and has expanded its reach to include commodities, cash equities and risk. Managing director Jason Mort says they’ve added headcount in research across Europe and Asia and have taken advantage of rivals’ weakness to strengthen their position. “The hiring market has improved but we take nothing for granted. We have accepted reduced revenues in the lean times in expectation of increased business in the upturn,” says Mort. 3). Hammond Partners Traditionally known for its strength in equities, Hammond has expanded to cover all areas of the market. Chief executive Paul Hammond says they’ve added seven people since the crisis began and have come through thanks to being “well capitalized.” 4). Execuzen Founded in London 2000, Execuzen now has offices in London, New York, Hong Kong, Mumbai and Moscow. Founder and managing director Adrian Ezra says London headcount has increased during the downturn. Last month, the company hired Andrew Fox former senior consultant at Carrington Fox. ‘I am cautiously optimistic about things going forward,” Ezra says.
COMMENTSLowly HH, HR & Recruitment, Thu 18 Jun 09“The hiring market has improved but we take nothing for granted. We have accepted reduced revenues in the lean times in expectation of increased business in the upturn,” says Mort.
Mrs Headhunter, Investment Banking / M & A, Thu 18 Jun 09Hmmm, I wonder if you need to increase your own researcher headcount? I'm not sure that your information is completely on the money here... Add your comment »dave, Consultancy, Thu 18 Jun 09Yeah, good point AE. Now the recession has hit, I'm calling a recruiter as my best friend!
Russel Struggles, Research, Thu 18 Jun 09Does anyone believe anyone in this game? Really? Add your comment »Still Searching, HR & Recruitment, Thu 18 Jun 09Happy, secure, no firing and possibly even selectively hiring here...
Sir Fred, Capital Markets, Thu 18 Jun 09lets make it more fun, which ones went to the wall???
James, HR & Recruitment, Thu 18 Jun 09I'm pretty optimistic about 2009. Two of my biggest clients, Bear Stearns and Lehmans, appeared to shed a lot of staff during 2008, and I'm looking forward to helping them rebuild.
robert, HR & Recruitment, Thu 18 Jun 09Times are definitely tough for recruiters. Last month, I was was representing a senior banker who, 2 years ago, would have been snapped up in no time.
Gini, HR & Recruitment, Thu 18 Jun 09we thought we had placed someone from Lehman to another bank after the collapse and she was bid back by the administrators on a 2 year contract and twice the cash. So no placement for the consultant on that one. She was later tinned. Add your comment » |
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