Recent staffing decisions by executive recruiter Heidrick & Struggles International Inc. offer some insight into how seismic shifts in financial services and tight credit markets are affecting hiring decisions by banks and investment firms worldwide. For one, the firm is adding staff to better manage and build its international financial services recruiting business, which has seen solid demand for recruiting services in the Asia-Pacific region.
Third-quarter revenue from Heidrick's Asia-Pacific business was up 18%, helping offset a decline of 14.6% in Europe and relatively flat net revenue in the Americas.
To help coordinate its worldwide businesses and expand into new geographies, Heidrick in December appointed Rob Hines to the
newly created role of managing partner, global operations. Hines, who previously was COO of Heidrick's Americas practice, will lead corporate development and acquisitions. In addition, this summer Heidrick hired
John Kim and Daniel Edwards to co-lead the global financial services practice. Edwards is responsible for much of the Asia-Pacific growth and will continue to lead the Tokyo office.
Finally, reflecting private equity's focus on portfolio companies in the absence of financing for deals, Heidrick appointed
Todd Monti to lead the private equity and venture capital business. In announcing Monti's appointment, Heidrick chief executive Kevin Kelly noted that PE firms were hunting for strong operational and leadership talent to help manage their portfolio companies.
- Suzanne Stevens
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