Heidrick & Struggles up 58.8 percent in Asia Pacific
Demand Driven by Leadership Advisory and Executive Search
SYDNEY, Australia, Mar. 3 /Xinhua-PRNewswire/ -- Heidrick & Struggles
increased its net revenue by 58.8 per cent in the Asia Pacific region last
year, driven by continuing high demand for leadership advisory and
executive search services.
Net revenue for APAC was $US78.6 million. Operating income of $US15.9
million increased 20.1 per cent compared with 2006 and the operating margin
was 20.3 per cent, compared with 26.8 per cent in 2006 as the firm invested
in infrastructure to support its expansion.
Regional managing partner Gerry Davis says that Australia/New Zealand,
Greater China and Singapore recorded the highest growth rates, with ANZ
revenue up 118 per cent on last year, Greater China up 33 per cent,
Singapore 72 per cent, India, 29 per cent, Japan 33 per cent and Korea 61
Davis says that an aggressive recruiting effort and investment in
information technology infrastructure have provided a strong foundation for
further regional expansion in 2008.
"Offices have also been expanded and upgraded to cater for the
increased headcount. We have opened an office in Bangkok, Thailand to
address the significant demand for multi-national and in-country
executives," Davis says.
The scale of reach of the Heidrick & Struggles operation in Asia
Pacific has caused many corporations to seek access to its "thought
leadership", industry sector analysis and research materials, Davis says.
Leadership advisory practice leader Steve Langton says the firm's
advisory work has helped to increase the number of chief executive and
non-executive director roles. "Leadership advice leverages the Heidrick &
struggles reputation, brand and capability to support clients in addressing
their talent concerns they have in a time of leadership transition."
Globally, for the fiscal year ended December 31, Heidrick & Struggles
reported consolidated net revenue of $US619.7 million, an increase of 29.5
per cent from $US478.5 million in 2006. The firm expects global revenue to
grow by between 5 and 8 per cent in 2008.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier
provider of senior-level executive search and leadership consulting
services, including talent management, board building, executive
on-boarding and M&A effectiveness. For more than 50 years, we have focused
on quality service and built strong leadership teams through our
relationships with clients and individuals worldwide. Today, Heidrick &
Struggles leadership experts operate from principal business centers in
North America, Latin America, Europe and Asia Pacific. For more information
about Heidrick & Struggles, please visit http://www.heidrick.com .
Safe Harbor Statement
This press release contains forward-looking statements. The forward-
looking statements are based on current expectations, estimates, forecasts
and projections about the industry in which we operate and management's
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Director, Corporate Communications