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StepStone Expands Into China

Online recruiting site StepStone has expanded its operations in China through a binding agreement to acquire LEVEL4 Performance Consulting Limited, a Hong Kong company and its subsidiary in mainland China. The acquisition will enable StepStone to accelerate its penetration of the expanding Chinese talent management market. Existing StepStone customers in China include Ford, Intertek, KPMG and SGS. LEVEL4 focuses on talent management consultancy services and the sale and implementation of talent solutions. It has offices in Hong Kong, Shanghai and Guangzhou. StepStone will acquire a majority interest with an option to acquire the minority interest it does not own in 2011. LEVEL4 will be renamed StepStone China. Roy Fung, the current majority shareholder, will remain with the business and take on the role of president, StepStone Greater China. "Recent Economist Intelligence Unit research indicates that recruitment is becoming tougher globally but Asia is the market where recruitment and retention difficulties are acute, increasing the need for organizations to adopt a robust recruitment and talent management strategy. I am very pleased to welcome Roy and his team to StepStone. They become part of an expanding Asia Pacific operation that will accelerate the delivery of StepStone products and services to this important market," StepStone CEO, Colin Tenwick, said.
Hunt-Scanlon Corporation

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