| March 12, 2001 Hunt-Scanlon Releases Search Industry Rankings; Korn/Ferry Regains Top Spot as No. 1 Headhunter in the U.S. and Worldwide Stamford, CT, March 12, 2001 - A financial analysis conducted by Hunt-Scanlon Advisors, a leading market research firm and online data provider to the executive recruiting industry, reports that Korn/Ferry International has surpassed Heidrick & Struggles International as the largest executive search firm in the U.S. and worldwide. While both search firms' annual revenues surpassed the half billion dollar mark for the first time, Korn/Ferry's acquisition of several boutique search firms, combined with the global expansion of its Internet-based recruiting business, Futurestep, allowed the firm to reclaim its No. 1 rank. Revenues for Korn/Ferry's North American operations (including Canada) for the period February 1, 2000 through January 31, 2001 totaled $385.5 million, which included $353.9 million in retained search fees as well as revenues of $31.6 million from its two Internet recruiting businesses (Futurestep and Job Direct). Heidrick & Struggles reported calendar year 2000 U.S. revenues of $361.7 million, consisting of executive search fees of $341.5 million and revenues of $20.2 million for its Internet-based recruiting business, LeadersOnline. On a global basis, Korn/Ferry's total revenues shot up 53 percent to $662 million, of which $82.2 million was generated by Futurestep. Heidrick & Struggles reported worldwide revenues of $594.4 million, a 36 percent jump over 1999. Hunt-Scanlon's official 2000 U.S. and global executive search industry rankings will be published later this month in the March issue of Executive Search Review. "Our analysis shows the U.S. recruiting industry had another blowout year in 2000 where combined revenues of the 10 largest search firms grew in excess of 30 percent," said Brian P. Lee, chief market strategist at Hunt-Scanlon. Mr. Lee said that while industry momentum has slowed along with the economy in recent months, the prospects for another solid year look good. "Hunt-Scanlon remains committed to its forecast of continued explosive growth for the executive search industry," said Scott A. Scanlon, the firm's chairman and CEO. Mr. Scanlon predicts that the industry's first billion dollar search firm will emerge within the next two years. "To reach that milestone within that timeframe," said Mr. Scanlon, "the contenders must go beyond recruiting; they have to now become full service providers of human capital solutions. It is a tall order." ABOUT HUNT-SCANLON Hunt-Scanlon Corporation is a leading market research firm and online data provider to the executive recruiting industry. The firm publishes daily real time newswires, three monthly newsletters (Executive Search Review, Online Recruiting Strategist and Diversity Monitor), as well as directories of executive recruiters and senior HR executives. The company's flagship recruitment portal for senior executives, hunt-scanlon.com, is a growing online marketplace connecting buyers and sellers of recruiting services worldwide. Within this portal, Hunt-Scanlon operates four leading web sites, including executiveselect.com, recruiterlink.com, diversityonline.com and leadersonthemove.com. A separate operating unit, Hunt-Scanlon Advisors, produces executive-level conferences and in-depth market intelligence reports on human capital and technology issues. Contact Information:
|
