search-consult Issue 33

2008 / ISSUE 33

The International Executive Search Magazine Published by Dillistone Systems

Announcing Executive Search Conferences in New York, London, Frankfurt and Hong Kong

HR Interview: Bill Nee, SVP Human Resources at Fiskars Brands Germany: Opening Its Doors To Top International Talent Executive Search For Professional Services Emotional Intelligence Linking In With LinkedIn速 International Executive Talent Crisis dillistone number 33e.indd 1

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Talent Acquisition and Development Worldwide

www.aims-international.net

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Identify the right talent

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Motivate and develop talent

Copyright Š AIMS International 2007, all rights reserved.

ith a global organization of over 80 offices focused on Search and Selection, we are able to target and approach the most appropriate talent.

ur 350+ consultants provide the most appropriate HR solutions to meet your company’s business objectives; these include Assessment, Career Transition, Change Management, Climate Surveys, Coaching, Compensation & Benefits Surveys, Development Centres, HR Audit, Interim Management, Leadership Development, Performance Management, Remuneration Consulting, Succession Planning and Training.

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Build strong relationships

e build strategic partnerships with our clients by delivering the best solution in a timely and responsive manner.

For further information, please contact AIMS Marketing and Sales at ms@aims-international.net

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Joseph Daniel McCool is a writer, speaker and advisor on executive search best practices.

He is the author of Deciding Who Leads, a forthcoming book exploring the influence of the global executive search consulting profession on corporate performance, culture and profits that will be launched at search-consult’s March 10, 2008 conference in New York City.

Mr. McCool is a senior contributing editor with ExecuNet and the former editor of Kennedy’s Executive Recruiter News and its International Directory of Executive Recruiters. His views on management succession have been cited in BusinessWeek, The Economist, The Financial Times, The Wall Street Journal and other media around the world.

MANAGING DIRECTOR Jason Starr jason@search-consult.com

Music To Your Ears?

EDITORIAL Pilar Gumucio editorial@search-consult.com

I SUSPECT YOU’RE GOING TO LIKE WHAT YOU’RE ABOUT TO READ. That’s because a friend in the business suggested to me recently that, for the first time in the history of retained executive search consulting, we may already be seeing the very beginnings of what could become a long-term separation of the business cycle and the growth of assignment revenue.

The search business has long been tied pretty closely to the business cycle. But there have been so many good years marked by double-digit revenue growth for most firms over the past few decades that some have forgotten that basic economic fact and invested too heavily when the going was good, only to cut back when the economy sagged.

When corporate earnings are robust, companies tend to invest and most of those investments amount to bets on the quality of their people and leadership. And there is still some debate over whether executive search is a leading or lagging indicator of the future direction of corporate financial performance.

These are still good days for the world’s executive recruiters, no doubt. Yet one can’t look much farther into 2008 without considering how the soft U.S. economy – which originates one-half of all retained search assignments every year – may impact corporate earnings in the months to come, and how that might influence corporate executive hiring.

But corporate financial performance may not be as relevant an indicator of future demand for executive search consulting. Just consider the dramatic demographic shift that has post-war ‘Baby Boomers’ retiring (or on the verge of retiring) from so many management positions around the world and the talent vacuum that is being created.

Yes, we may indeed see some separation between the business cycle and the course of growth for retained search firms because, like it or not, many of the world’s largest and emerging companies may need to continue hiring executive talent to fill the generational void no matter what the economic environment.

Those companies may need new executive talent to stave off a drop in productivity that could threaten to interrupt their own revenue growth because of the current and impending loss of institutional knowledge, experience and efficiency.

Sure, issues like CEO confidence in the economy, search firm performance and relations with internal decision-makers, and the liquidity of investment capital will all contribute to the future performance of most retained search firms.

Yet, in what portends to be a real inflection point for those in the business, it may soon become apparent that corporate requirements for external leadership talent – despite a growing focus on developing leaders from within – will extend beyond the depths of any near-term rough spots in the business cycle.

That’s not to say search firms should disconnect from the realities of the economic environment in which their clients must operate. Rather, it’s simply an observation that the long-term trend lines for this specialized form of management consulting look positive.

Remember that the next time you read about a hiccup in the global economy.

PRODUCTION Margaret Jaouadi margaret@search-consult.com

ADVERTISING/SUBSCRIPTIONS/REPRINTS UK and Europe North and South America South East Asia and Australia Yann Le Leyour enquiries@search-consult.com or log on to www.search-consult.com

search-consult.com Third Floor, 50-52 Paul Street, London, EC2A 4LB, United Kingdom Tel: +44 (0)20 7749 6102 Fax: +44 (0)20 7729 6108 www.search-consult.com

For manuscript/ photographic submissions, please e-mail our Editorial department or write to the address above to obtain author/ photographic guidelines.

search-consult is published quarterly by Dillistone Systems Limited, Third Floor, 50-52 Paul Street, London EC2A 4LB for US$96 per year and printed

by Mr. Bloom Ltd, Sopot, Poland, www.mrbloom. com.pl. Periodical Postage PAID at Jamaica, NY. POSTMASTER: Send change of address changes to Dillistone Systems Inc., 50 Harrison Street, Suite 201A, Hoboken, NJ 07030.

All statements, opinions, and expressions are the sole responsibility of the authors and the Publishers reserve the right to amend/alter articles as necessary. The Publishers cannot be held responsible for any loss or damage, however caused, of any materials supplied.

Any materials supplied may not always be returned.

No part of this publication may be reproduced in any format without prior written consent of the Publishers.

© Copyrights 2008 Dillistone Systems Ltd

Joseph Daniel McCool joemccool@comcast.net

Joe McCool is a speaker at the upcoming Executive Search Consulting Conference. In addition, he will be running a unique workshop on best practices in business development.

See pages 6-7 for more details.

ISSUE 32 2008 search-consult

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Fiskars Brands:

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Senior Management

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ccording to statistics from the AESC, 80% of senior executives are failing within the first year.

The HR and executive search industry must look closely at why this is occurring, especially when you take into account that in our globalized and competitive world the existing talent pool continues to shrink and the demands of top management roles are also continuing to increase.

In other words, hiring for senior management roles should not be taken lightly. Bill Nee, SVP Human Resources for Fiskars Brands, advises all of the participants involved in the selection process to take a more hands-on approach, bearing in mind that their personal reputation is at stake.

Whether you are the HR Leader or the executive search consultant, remember that “in this business, reputation is based on the amount of quality of candidates that you bring in to play.”

A company’s success is, therefore, linked to the amount of top talent that it

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By Pilar Gumucio

can source, attract, attain and retain.

Fiskars Brands knows this very well, taking into account that it is at the forefront of innovation with its design, development and engineering of awardwinning products that are manufactured and sold worldwide.

Fiskars Corporation‘s roots are based on a company founded over 350 years ago in Finland. Today, Fiskars Brands, Inc. (the consumer products arm of Fiskars Corporation) is headquartered in Madison, Wisconsin and has offices in 20 countries with over 3000 employees.

Fiskars Brands, Inc. reported net sales of 490 million Euros in 2006.

“THEY HAVE TO SHARE OUR VALUES” Fiskars Brands fully understands the importance of having the right top talent on board, knowing that executive search is the best way to attain these strategic hires.

Nee explains that the company in the United States uses retained executive

search for all their positions from president and above and occasionally at the divisional vice president level. In certain areas within Asia and Europe, this service also includes general management levels.

He insists that the candidates they are looking for have to reflect Fiskars Brands core values. They should “not only have the right background and experiences, but they have to have our values.”

For instance, Nee describes some of the key differences that make this company different from other businesses. “We are a small complex business where teamwork is required intensively. Our executives are more hands-on than in other businesses, considered to be ‘working executives’”.

According to Nee, the candidate profile must depict these differences since an executive from a large multinational company who is used to having a large staff to assist him/ her would simply not fit in with the company’s culture.

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“Cultural fit is the main reason why candidates fail,” he remarks. If someone is dismissed it has as much to do with how well they work with others in the business as it does with them having the proper skill sets to do the job.”

ESTABLISHING A RELATIONSHIP To obtain the right candidate it is vital that a business puts a great deal of thought in the selection of its search provider. What type of relationship does the client expect?

For some, it is about creating a strategic partnership, encompassing all the client’s HR requirements. For others, it is simply transaction-based on a need to fill basis. Yet, for others, such as Fiskars Brands, it is a combination of both.

Nee describes how Fiskars Brands will only hire a search firm when a position needs to be filled.

Nevertheless, this selection is based on personal connections.

He notes that he would never give a search to someone he has not met face to face. Moreover, he would never hire someone that had not been recommended to him by somebody he trusted.

The reputation of the search firm is important, getting people to return their calls based on how well they treat candidates and customers. “However Nee reports - in the end, you are paying for the reputation and the customer service ability of the person who is working your search, not necessarily the search firm’s.”

This is precisely why Fiskars Brands does not have a global preferred supplier agreement with any search firm. Nee elaborates: “The company leader in charge of filling the role needs to have a personal connection with the consultant he or she selects to fill the job because, essentially, it’s his or her reputation that is on the line.”

Therefore, the company executive has to feel comfortable with the search provider, trusting in his/her ability to

Bill Nee

be able to provide them with the best quality service and more importantly, being able to communicate with him/ her to attain the best candidate.

SEARCH IS MORE THAN SHARING INFORMATION During the search process, Nee expects to be kept regularly informed.

“The biggest fear that a company has is that your search provider is going to reach into a file and simply grab a list of candidates. I need to feel that they are really working the search, expecting them to share their work, provide regular status updates on candidates and involve me in the process.”

He also recommends that in order to attain the right candidate you calibrate the search as early as possible. He advises search providers to be able to show their clients what they are uncovering from a candidate standpoint.

Within this context, they should be able to communicate to their clients areas of potential concern, such as “You need to look at a bigger talent pool” or “Your spec is too tight, to the extent that you are passing up good candidates.”

Nee prefers to rely on industrial psychologists for the assessment of candidates, not just the search provider.

He prefers search providers to focus

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on sourcing and attaining the best candidates. He also expects search consultants to provide him with value added information, such as: “How does our job and company play out during the recruitment phase?”, “Are executives interested in us?”, “If not, why?” and “What is our reputation in the marketplace?”

At the end of the day, a company’s success is based on its excellent reputation. This reputation is a result of a series of coordinated and strategic policies. Among them, and one of the most important, is how to obtain and retain top talent. Executive search plays a critical role within this context, helping their clients find and hire the right candidates. This task should not be taken as simple routine. Both parties should take a more active role, making sure that new venues are explored and potential concerns discussed beforehand. It is a relationship that is based on personal connections, quality candidates and upholding first-rate reputations. Fiskars Brands understands this well, and has contributed to having this leading business stay on top for more than three hundred and fifty years, with many more to come.

Bill Nee is responsible for employee relations, compensation and benefits, management and organization development, and human resource policies and compliance for Fiskars Brands, Inc. He joined the Fiskars Brands organization in October 2004 in his current role as Senior Vice President, Human Resources. Prior to joining Fiskars Brands, Inc., Bill held various senior HR positions with Newell Rubbermaid, the last being a Group Vice President, Human Resources where he was responsible for human resources for approximately 13,000 employees in over 40 manufacturing and distribution facilities worldwide.

Prior to that, Bill began his career, in the steel and bearing business, with The Timken Company. Bill has over 20 years of experience in field of human resources.

Bill is a graduate of IUP with a Bachelor of Science degree in Finance. He also earned his Masters in Labor and Industrial Relations from Michigan State University.

www.search-consult.com For more information visit: Web: www.fiskarsbrands.com

ISSUE 33 2008 search-consult

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The practice of executive search in the Americas will soon reach a critical tipping point. Corporate demand for exceptional leadership talent continues to grow along with client expectations of long-term value and candidate expectations of career stability - all against a backdrop of record low executive tenure. So what next for the client relationship?

How will the emergence of social networks shape the future of recruitment research? Will client pressures around the global sourcing of candidates force more boutique firms to find international partners? And how might the principal of today’s executive search firm realize a return on their investment in the firm?

Join search-consult for its inaugural Americas conference for answers, insights and practical advice about tackling these and other important strategic issues that will shape the future of executive search consulting and the value it drives for corporate clients. Plus, be among the first search consultants to receive a copy of Deciding Who Leads: How Executive Recruiters Drive, Direct & Disrupt the Global Search for Leadership Talent, a groundbreaking book by search-consult featured columnist Joseph Daniel McCool.

Jacques “Jay” Andre Booz Allen Hamilton Executive Hiring Leader

Colgate-Palmolive Director, Global Staffing

Kerri Arman

John A. Byrne BusinessWeek Executive Editor

Hess Corporation Director, Talent Acquisition, Marketing & Refining

Boyden Global Executive Search President and CEO

Chris Clarke

Michael N. Curran

Randolph Gulian

Caroline McClure

Joseph Daniel McCool

Janet Jones-Parker Doublier

Harcourt "Buzz" Patterson

Christine Bilotti-Peterson

InSearch Worldwide Corporation President and Managing Director

Lockheed Martin Head of Executive Recruiting

search consult Author and Featured Columnist

Jim Cavnar

Jones-Parker/Starr Founder and Managing Director

IRC Recruitment U.S. Board Chair

Curran Partners Inc. / ECI Group Managing Partner

The Hartford VP, Executive & Strategic Staffing

Mark D. Ernsberger

Lauryn Franzoni ExecuNet Vice President & Executive Editor

UBS Head of Diversity Wealth Management U.S.

Alain Tanugi

Andrew Walker

Steve Watson

Farr Associates President and CEO

TRANSEARCH International Chairman

IESF Joint President

Greg Jones

Stanton Chase International Chairman

Optional workshops Search Execution and Client Management Workshop

Leaders: Betty Wong Tomita and Gai Galitzine Target: This one-day workshop is for intermediate and experienced Executive Search professionals.

Cost: US$799 / GBP389 / EURO535 Venue: Mid Manhattan Date: March 11, 2008 (9am - 5pm)

The Retained Executive Search Training workshops are designed to meet training needs of a profession in transition. Our industry does not have exams as in the legal, audit and financial services professions, but we do recognise the importance of delivering high quality professional consultancy services to clients – none of us would be in business if we did not deliver on this. The prevailing model for best practice is a mixture of good understanding and systematic coverage of the market place and effective use of good network of experts in each industry.

Through presentations and small discussion groups participants will have the opportunity to review with their peers current search industry issues including: • Client Management – developing and maintaining relationships.

• Search Management – ongoing client communications, management of research and systems.

• Candidate Management – assessments, reports, reference checking and closing negotiations.

Best Practices For Business Development – Tactics To Disrupt & Elevate The Executive Search Experience

Leader: Joseph Daniel McCool Target: This optional event is only available for delegates attending The Executive Search Consulting Conference in New York on March 10, 2008.

Cost: US$475 / GBP250 / EURO350 Venue: The Princeton Club of New York Date: March 11, 2008 (9am - 12pm)

It’s time for a fresh approach to differentiate and elevate the client and candidate experience with today’s executive search consulting firms and to disrupt the traditional approaches to developing new business. Shifting corporate priorities and lingering misconceptions about the value of retained executive search should move you to differentiate not only your business development efforts but also your stewardship of the firm’s brand, culture and services portfolio. Gain new insight on how to separate from the status quo and reengineer executive search for maximum client value and the highest return on your investment in business development.

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Agenda

DECIDING

8am REGISTRATION AND CONTINENTAL BREAKFAST

WHO LEADS

9am WELCOME REMARKS Jason Starr, Publisher of search-consult magazine & President, Dillistone Systems

How Executive Recruiters

9:10am INTRODUCTION John A. Byrne, Executive Editor, BusinessWeek

Drive, Direct & Disrupt the Global Search for

9:20am KEYNOTE ADDRESS - Deciding Who Leads: How Executive Recruiters Drive, Direct & Disrupt the Global Search for Leadership Talent Joseph Daniel McCool, Author and Featured Columnist, search-consult magazine

Leadership Talent

10:20am SPONSOR PRESENTATION 10:30am NETWORKING BREAK

JOSEPH DANIEL McCOOL Foreword by John A. Byrne, Executive Editor, BusinessWeek

11:00am PANEL DISCUSSION: WHAT’S NEXT FOR THE CLIENT RELATIONSHIP? Moderated by Janet Jones-Parker, Founder and Managing Director, Jones-Parker/Starr Jacques “Jay” Andre, Jr., Executive Hiring Leader, Booz Allen Hamilton Kerri Arman, Director, Global Staffing, Colgate-Palmolive Christine Bilotti-Peterson, Vice President, Executive & Strategic Staffing, The Hartford Jim Cavnar, Director, Talent Acquisition, Marketing & Refining, Hess Corporation Greg Jones, Head of Diversity, Wealth Management U.S., UBS Caroline McClure, Head of Executive Recruiting, Lockheed Martin 12:15pm NETWORKING LUNCH 1:45pm HOW SOCIAL NETWORKS WILL CHANGE EXECUTIVE SEARCH Lauryn Franzoni, Vice President & Executive Editor, ExecuNet 2:30pm PANEL DISCUSSION: GLOBAL PARTNERSHIP: THE NEXT CHAPTER Chris Clarke, President and CEO, Boyden Global Executive Search Harcourt ‘Buzz” Patterson, U.S. Board Chair, IRC Recruitment Alain Tanugi, Chairman, TRANSEARCH International Andrew Walker, Joint President, IESF (International Executive Search Federation) Steve Watson, Chairman, Stanton Chase International 3:30pm NETWORKING BREAK 4pm PANEL DISCUSSION: MANAGING COMPENSATION, CULTURE AND CAREER PATH IN EXECUTIVE SEARCH Michael N. Curran, Managing Partner, Curran Partners Inc./ECI Group Randolph Gulian, President and Managing Director, InSearch Worldwide Corporation 4:45pm WHAT’S NEXT FOR EXECUTIVE SEARCH AND EXECUTIVE ON-BOARDING Mark D. Ernsberger, President and CEO, Farr Associates 5:30pm CLOSING REMARKS Jason Starr, Publisher of search-consult magazine & President, Dillistone Systems 5:35pm-7pm COCKTAIL RECEPTION AND BOOK SIGNING with Joseph Daniel McCool * The agenda and speakers are subject to change.

This event is also acting as the official launch for “Deciding Who Leads: How Executive Recruiters Drive, Direct & Disrupt the Global Search for Leadership Talent” – the new book by Joseph Daniel McCool. Join us for our drinks reception and receive a complimentary copy, signed by the author.

The executive search consulting business has grown significantly since ‘The Headhunters’ was published in 1986. But now, in ‘Deciding Who Leads: How Executive Recruiters Drive, Direct & Disrupt the Global Search for Leadership Talent’, the first book exploring the global influence of executive recruiters since then, author and search-consult columnist Joseph Daniel McCool contends the process and external perceptions of its value have actually changed very little over the past two decades.

The status quo that pervades the global market for executive search consulting creates significant threats and opportunities for those interested in bridging new client relationships and reversing lingering questions about its effectiveness and value. Join us at search-consult’s inaugural Americas conference for a first - and what promises to be an especially revealing - look at the issues explored in this groundbreaking new book which examines the executive search consulting business, the issues it has to resolve to grow its influence and how your firm can separate from the profession’s lack of innovation.

Book now! Only US$899 / UK£450 / €650.

Group discounts available!

Please call us on +1 (201) 653 0013 or +44 (0)20 7749 6102 or send an email to events@search-consult.com Online payment facility as well as downloadable booking form available at www.search-consult.com/newyork2008

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Germany: Opening

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ot so long ago, Germany was seen as a giant with a strong flu. Its economic data wasn’t very encouraging, unemployment was high and many saw this country’s growth as stagnant. Today, the picture is changing. The German economy is on a road to recovery with many opportunities on the rise as it opens its doors and adapts to operating in a truly globalized world.

Richard Fudickar, Managing Partner of Boyden Germany, elaborated: “This has to do with a very strong demand from developed and emerging markets due to the relationship between export in Germany and executive search demand.”

In fact, Germany’s economy is thriving and surpassing its European counterparts. Driving this growth have been the Manufacturing, IT and Telecom and export industries. Sectors, such as Fast Moving Consumer Goods and Retail are also experiencing a growing need for high flying executives. At the same time, domestic need for investment talent is expanding along with Construction and Consumer Goods, which are two key indicators of growth.

“Some areas are growing in demand such as Private Banking and Hedge Funds – while other areas in Financial Services are in flux due to takeover by international banks or Private Equity groups which are restructuring companies in their portfolios.”

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By Pilar Gumucio Corporate Governance is also affecting the way executives are hired as new laws are implemented. Boyden’s Managing Partner in Germany explained how search firms can play a critical role in assessing the composition of the board, determining how the board works and selecting for that role based on skill sets rather than on who the CEO knows.

Within this context, he also advised clients “to broaden their talent pool and include candidates with an international flavour, and executives who are capable of working in high diversity environments.”

ADAPTING TO CHANGE As Germany adapts to these new circumstances, the search industry faces a whole new set of challenges. Mr. Fudickar told search-consult how a change of mindset is required for clients, candidates and executive search providers to continue to be successful in sourcing, attracting and retaining their top talent.

Mr. Fudickar of Boyden Germany reported: “Businesses have to realize that the game is changing and they must learn to operate in a very competitive environment, and especially in the way they treat their executive talent.”

For example, in the Private Equity and M & A business, one of the most dynamic sectors of the German economy, companies are demanding fast solutions and often opt for purely contingency searches, falsely believing that this alternative is quicker.

At the end of the day, this is not cost effective or successful. He described how some companies think they are getting a cheap solution, but if the consultants are not trained, non-ethical or not experienced properly, then the firm finishes paying a higher price in terms of getting the appropriate candidate. Many times the selected candidate does not fit the profile, or the deal falls through, or the candidates approached are not interested in the opportunity, which forces the company to restart the search, spending valuable time and money.

Mr. Fudickar advises these companies to take a close look at their talent requirements. They would soon realize that “around 80%” of the failures in any sector of industry are related to human resources since they do not follow a rigid process nor do a proper assessment.

If a business is going to be taken over, a proper assessment must be done to see who to keep and who to hire as well as to find “dusty diamonds” in the organisation.

“Companies shouldn’t simply hire an executive because he/she has a good track record. Management must look at the bigger picture. Does he/she fit in with the corporate culture? How will he/she add value to the current situation and how will the executive develop the business further?”

He strongly believes that search consultants play a fundamental role in adding value, reducing executive turnover

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rates and attracting the best available talent to client organizations by educating, training and supporting their clients.

“The more AESC members sell the same quality in the search process, do not work on a contingency basis and demonstrate their value, the more successful search firms will be” in revealing how critical a partner they can be in helping with talent management.

Mr. Fudickar recognized that within the last ten years a change is taking place in large international companies. Even more medium-sized and small niche firms are beginning to regularly use executive search.

NO SECOND CHANCES Today clients are much more demanding and they still require effective results. The German Managing Partner described: “The result of the last search is what counts. If you struggle, you won’t have a second chance to redo that search because the competition is fierce and clients will simply go elsewhere.”

Another important factor he reported is how in the past search firms negotiated directly with the CEO, CFO or the Head of HR. Today this process is changing as more and more multinationals are having their purchasing departments negotiate the contract as a means to save costs. This can complicate the relationship because executive search should be an ongoing service, not a transaction.

Clients must also understand that although they would like fast solutions, executive search is a process that takes time to assess the organization, the skill sets and effectively search the market for the right candidates.

Mr. Fudickar remarked: “As a trusted partner, it is the role of the search provider to educate your clients on what is realistic and what is not.”

In Germany, many clients have more confidence in the consultant than in the organization. “Before you get a company’s blessing to carry out the search you must prove you are trustworthy, demonstrate the effectiveness of your network, show you are

Richard Fudickar

knowledgeable about your client’s industry and illustrate your achievements. Because the marketplace is so competitive, clients want to minimize their risks.”

A NEW BREED As the business environment becomes more international, the profile of the candidate is also changing. Mr. Fudickar explained that more and more Eastern European and Asian executives, who attended top universities in Europe, are now applying for positions in mediumsized companies and conglomerates that operate in Germany.

As a result, selected candidates are more international. There is a growing interest in intercultural behaviour as clients “want to understand what candidates can deliver, what they have achieved and what are the candidates’ strengths and weaknesses.” Proven leadership experience as well as managing an environment of change is also of great importance.

This means that clients and search consultants alike must demonstrate greater flexibility and be more understanding of inter-cultural behaviours.

He described how search consultants must also educate candidates. “When a candidate is getting more offers, it is up to an experienced and skilled search

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consultant to manage their expectations and be clear that they cannot fool around.”

Mr. Fudickar explained that as the market becomes “extremely competitive, there are not enough rules to have fair competition.” For instance, other professions require entrance exams and have rigid standards in place to control the quality of these professionals. Executive search and other consultative businesses, however, have no barriers to entry as you simply put a sign on the window that says you are an executive search consultant.

Mr. Fudickar reported that there are more than 5,000 companies working in search.

Most of these companies do not follow the quality standards and ethical procedures defined by the AESC – Association of Executive Search Consultants.

The high end search firms are competing fiercely to attract and retain the top search consultants, especially as search is becoming more regional and in some cases, even global.

As Germany opens its doors to the changes that are occurring within its own borders as well as abroad, a lot of new opportunities and new challenges are on the rise. The most successful will learn to adapt to attract this new breed of internationally minded talent that will continue to drive them forward.

Richard Fudickar is Managing Partner of Boyden Germany and a Member of the Board of the German AESC. He has close to 20 years experience in executive search, having successfully conducted many senior search assignments both nationally and internationally. Mr. Fudickar is a member of Boyden’s General and Fast Moving Consumer Goods practice.

He is also experienced in Management Assessments.

Mr. Fudickar joined the firm in 1999 after having been Managing Partner of Korn/Ferry International’s German Branch. Previously, he had been appointed to develop the executive search division of Gruber, Tietze & Partner, which today is part of the Gemini Consulting Group. Earlier, he worked for nearly four years with Kienbaum Management Consultants as Senior Management Consultant in charge of developing and implementing marketing and sales strategies.

Boyden is a global leader in the executive search industry with more than 70 offices in over 40 countries. Founded in 1946, Boyden specializes in high level executive search, Interim Management and Human Capital consulting across a broad spectrum of industries.

www.search-consult.com For more information visit: Web: www.boyden.com

ISSUE 33 2008 search-consult

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In the executive search profession, quality starts at the research level. To help researchers achieve results, search-consult is running its first Research Practitioner skills day. Delivered through small groups, it will be packed with practical tips and techniques that will make a real difference to the way you work.

The Research Practitioner event will differ from other conferences in that, for the five key sessions, we will work in groups of about 10 people. This will give you the opportunity to ask lots of questions, and the trainers will be able to address individual needs.

Therefore, rather than give you a programme for the day, here is a synopsis of the five sessions you will rotate around.

Using the web (Karen Blakeman) Karen is an experienced trainer in advanced internet searching. This session will demonstrate techniques to enable you to get the best out of search engines like Google and Pipl. She will evaluate the growth of networking sites, pick out the good ones, and show you how to make your LinkedIn connections work for you. Karen will also highlight many of the problems with relying on these sources so that you know when to proceed with caution.

Candidate Management (Jill Dillistone) Good candidates solve searches – if not this one then another in the future. Nurturing and developing relationships with candidates is a key part of the search process. We will discuss attracting the interest of potential candidates and verifying that they meet the key criteria for the role. The most frequent complaint from candidates is that they are not kept informed of the progress of the search so we will look at keeping candidates warm during the process. Finally, how to discourage those who are not qualified and breaking the bad news to unsuccessful candidates.

Starting your Search (Francesca Lahiguera) Begin your search with the end in mind. Francesca will show you how to prepare a search time line so that you can measure your progress, and keep your consultant and the client aware. Planning for the briefing meeting; what do you need to know and what questions will you ask? How to put together and use an acid test to evaluate your candidates and keep your search on track by targeting the ideal candidate for your client’s need. Reaching the candidate; getting past the switchboard and the PA, then quickly creating interest in your search.

Desk research (Caroline Mills) A very practical session giving you a number of websites that will really help you find candidates. The pack you take home from the conference will have details of these sites so you can start using them as soon as you get back to your desk. We will also look at some subscription services and how they can help you. In addition there will be an exhibition where you can learn more about some of these services.

Are you breaking the law? (Caroline Mills) In addition there will be an overview of the legal issues that affect you. Do you know how to work within the age discrimination legislation that covers Europe? How do you handle candidates’ data? Do you know the candidate’s rights to see what you hold? How do you handle references without infringing the privacy rights of the person giving the reference? All these and other questions will be covered in this session.

Telephone skills (Neal Woodcock) How to use your voice to sound confident and establish a rapport with your candidate. How to manage the call so that you have time to retain the information you are given. How to listen to “body language” on the phone… are there ways to tell if the candidate is lying? This session will have plenty of role play so that you practice what you learn.

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WHAT WILL YOU LEARN?

Karen Blakeman

• Information sources; the best places to find candidates.

• How to get the best out of the internet.

• Tried and tested techniques for approaching candidates.

• Telephones skills; how to pace the call and absorb the information.

• Difficult candidates; what to do when the candidate isn’t interested or not qualified for your search.

• Legal issues, how European data protection law and the Employment Equality Regulations affect the search process.

WHAT’S DIFFERENT? Jill Dillistone

We are limiting the numbers to 60, and for most of the sessions you will work in groups of 12 people.

Small groups encourage informal and frank exchange of ideas, and that is part of the value of this event. Trainers will rotate around the groups to ensure that you have the opportunity to learn from each of our experts!

WHO ARE THE TRAINERS? We have five top trainers; Francesca Lahiguera

• Karen Blakeman, RBA Associates. Karen set up her company, RBA Information Services, in 1989. Since then she has trained thousands of people on using the internet to access information.

• Jill Dillistone, search-consult’s regular trainer. Jill has masses of experience having worked as a researcher herself then as a trainer. Her CV includes Russell Reynolds, Heidrick & Struggles and Whitehead Mann.

Caroline Mills

• Francesca Lahiguera. Francesca is a very experienced consultant with an international perspective having worked with Sun Microsystems and Heidrick & Struggles in the US, Paris and London.

• Caroline Mills. Caroline has been an information officer in advertising and executive search.

She has worked for Heidrick & Struggles and Edward W Kelley & Partners, and now runs her own company, Ask Caroline.

Neal Woodcock

• Neal Woodcock, Words in Action. Neal’s company has provided communications training to companies across Europe and the US, including Microsoft, ABN Amro and A. T. Kearney Management Consultants.

For a detailed agenda and breakout sessions please visit www.search-consult.com/research2008

Book now! Only UK£479 / €699 / US$899 + 17.5% UK VAT per delegate (for one day).

Group discounts available!

Please call us on +44 (0)20 7749 6102 or send an email to events@search-consult.com Online payment facility as well as downloadable booking form available at www.search-consult.com/research2008

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Executive Search

ForProfessional Services I

spent 12 years as a consulting partner with Ernst and Young where the firm culture was strong, and with impeccable ethics, bright people and state of the art tools. Within my search practice, both at Ernst and Young and now with Western Management Consultants, I have been fortunate to conduct a number of partner searches for audit, professional engineers and law firm partnerships.

The demand for executive search in professional services firms is steadily increasing. A decade ago, there was more stability in the firms, but the competitive landscape has changed and there is more demand to attract talent. These firms do not want to raid each other directly. Hence, we now have search firms doing more of the work.

THERE ARE SEVERAL DIFFERENCES SEARCHING IN THE PROFESSIONAL SERVICES ARENA: • The target market for candidates is usually very narrow with no wiggle room; • The targeted candidates are very visible, that is, they are very obvious; • Initial discussions with targeted candidates are far more indirect; • The cultures of the firms where the candidates reside are very strong and dominant; • The courting period is very long, likely 3-4 months;

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By Jim Carlisle • A partner candidate will go through significantly more meetings, depending on the size of the partnership; • Compensation packages are extremely complex and items, like capital, in leaving a firm can be in jeopardy; • Money, in a pure sense, is rarely the issue.

GETTING TO KNOW THE CLIENT: You will likely work with a search committee comprised of two to three partners. Make sure to not exceed more than three partners since the more partners involved the more complex the search will be. Each one will have an opinion on the desired profile and expectations. To minimize this, it is better to have one main contact who is the one best qualified to “pitch to the firm”.

Make sure you have thorough briefing meetings with key decision makers and influencers. Don’t short change yourself, as the following material is critical to your understanding of the firm: • Culture; • Business mix; • Revenue; • Strategic plan initiatives; • Profile of successful partner/ performance criteria; • Expectation on chargeability; • Partner compensation package and capital requirements.

• What is the firm’s commitment to technology and professional development?

• What do clients say about the firm?

• What is unique about your firm to attract a partner from another firm?

PLAYBACK OF YOUR INTERVIEWS: Produce a report and get a sign off from the search committee. My experience is that many times partners forget what they have said. A written report will jog their memory and avoid any misgivings that might have otherwise arisen. The distinction here, compared to the private sector, is that more individuals have a say in the process and their mindset is to have everything in writing. The search consultant in this phase plays more the role of facilitator.

SOURCING THE CANDIDATES: Although sourcing is critical to any search, it is everything in this kind of search. The reason is that the target market for potential candidates is very specific, that is, other partnerships. Firms will go beyond the boundaries the odd time, such as looking for a “rainmaker” from a specific industry to boost sales.

Sourcing is a technique whereby the search consultant develops a specific hit list as to where and who are the candidates.

Within the professional services firms, particularly at the partner and senior manager level, it will be obvious who

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they are. The search consultant will also talk to other advisors to get more detailed background on targeted candidates and identify any “hot buttons” that might attract their attention.

As in a board director search, the search consultant will likely end up with a very small shortlist. In fact, often it is only one candidate.

It is essential that you have a good script of the firm and candidate profile to present to candidates. Individuals in professional services firms are very detailed and need to know explicitly why there is an interest in them and expectations. They will expect this upfront! When dealing with searches for executives in other fields, the process is more informal upfront and you gradually get into the detail. Part of the difference is attributable to the fact that executives in private sector are more used to being headhunted.

When sourcing targeted candidates learn what really motivates them. Consult more than interview. Similar to board member searches, your shortlist may only have one or two names. Pre-condition the client to that fact and make sure that they are ready to move quickly to attain the right candidate.

THE ASSESSMENT AND COURTING PROCESS: Once you have assessed that this is the right candidate, set up a meeting between the candidate and your client. Facilitate the process and determine how each party wants to proceed. If the client is interested, he or she will bring one or more partners to the next meeting. Set the agenda and get the candidate’s input.

This next meeting is a two way street, that is, an open book on both sides. The candidate is under the microscope, and the client is opening up more about the role the candidate is intended to fill. As a trusted advisor, you will likely want to introduce behavioural interviewing into the process at this time.

Reference checking should then take place, speaking to employees, clients, suppliers and even rival firms to assess if

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the candidate is still the most appropriate for the new role.

You might ask, so why is this any different from checking out an executive?

Partnerships, for the most part, are privately held organizations. Therefore, it is very difficult to get a real handle on the accomplishments of the candidate.

Reputation of the individual is more likely what you are verifying, and hence, there is more reliance on “indirect” referees.

THE CLOSING STAGES: At this point, the candidate may need a lot of help in coaching. You can help check what really motivates the candidate and does their fit really match the clients’. If so, then begin to advise the candidate on the best exit strategy. This is when the process can get very complicated as executives ponder how they can resign. Help the candidate script the exit meeting with as many options as possible.

The deal is pretty much between the candidate and the firm, and you just have to make sure the process continues to go ahead.

ON- BOARDING: I would be very insistent at this stage to make sure there is an adequate onboarding process in place. Professional services firms can be very loose on

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phasing in the candidate. The structure, timetable and expectations are critical to obtain success.

In conclusion, the elements of the search process may be the same.

Nevertheless, the attraction, courting and closing process may appear to be more complicated. Therefore, it is vital that search consultants that work in this area are fully aware of those complications so that they can handle them accordingly. My belief is that the consultant must use more finesse, be patient, be an astute facilitator and be equipped right from the very start to present a very detailed picture to the candidates.

The risks are very high! Candidates are paranoid about being found out, even more than what you see in most searches.

Remember, this style of recruiting is still relatively new to this field and their lives have usually been spent only in one firm.

Jim Carlisle is Chairman of the World Search Group Executive Committee and a Partner of Western Management Consultants Toronto.

Jim Carlisle joined Western Management Consultants of Ontario in 1999 as a Director in the Toronto office. He is a Fellow of the Certified Management Consultants of Ontario and licensed coach in the “Co-pilot coaching“ process. Before joining WMC, Jim spent 24 years in executive search as a Partner with The Caldwell Partners and subsequently with Ernst and Young.

Jim works primarily at the senior executive level spanning most industry sectors, with particular emphasis on entrepreneurial businesses, financial institutions, professional services and hospitality organizations. He also provides services in executive coaching and facilitation, offering an intuitive approach to executive development and career planning.

Founded in 1975, Western Management Consultants (WMC) has one of the most experienced executive search practices in Canada with senior, skilled, successful and experienced professionals providing a complete range of executive search services in all sectors using an entrepreneurial and creative approach.

With offices in Toronto, Calgary, Edmonton and Vancouver, WMC is one of the top 100 management-consulting firms in North America according to Consultant News.

The World Search Group is an international strategic alliance of independent retained executive search firms with members in virtually every international market, finding the right person, for the right position, at the right time.

With members in close to 30 cities, World Search Group ranks among the top 20 executive search organizations in the world.

www.search-consult.com For more information visit: Web: www.worldsearchgroup.org

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Unique “drag and drop” functionality allows users to create company and people records directly from websites without retyping!

Powerful new “Search Engine Style” document search allows users quickly and easily to find information hidden away in résumés, profile reports, articles, company reports, etc

FILEFINDER provides further improvements to time management functionality by means of two-way synchronization of Appointments, Tasks and Contacts with MS Outlook (and on to PDAs). We’ve gone one step further, however, and added context sensitive calendar and task functionality to FILEFINDER – clicking an appointment / task in the calendar instantly brings up all appropriate contact information.

New résumé / CV screening functionality allows consultants to flip backwards and forwards through résumés / CVs, adding comments and updating status details from a single screen.

Advanced email integration allows improved management of incoming and outgoing emails via MS Outlook. A new interface, improved templates, additional CC and reply functionality along with support for SMS and TAPI compliant telephone systems are all provided in the new FILEFINDER system.

USA: +1 (201) 653-0013

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Australia/Asia: +61 2 8221 8860 sales@dillistone.com

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Now integrates with LinkedIn®.

All backed up by superior service: • 24-Hour Support available to all contracted clients • Free online refresher training for System Administrators • Free-to-attend User Conferences in New York, London, Frankfurt, Hong Kong and Sydney To arrange your personal demonstration of the latest FILEFINDER 8, please send an e-mail to sales@dillistone.com TODAY or call one of our regional offices listed below.

Germany: +49 (0)69 27 40 15 807 www.dillistone.com

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UK / Other Europe: +44 (0)20 7749 6100

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Competence Really

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veryone strives for success in their careers as well as their personal endeavours. We plan and invest our time and money in improving our physical appearance, our education, our training and even the people we know. But are these steps really enough to make us succeed and reach our goals?

According to many experts, there is one fundamental ingredient that can make – or break – our success: Emotional Intelligence (EI). The EI concept argues that the Intelligence Quotient (IQ) is inadequate to determine and enable how successful we are. In fact, we have all known extremely intelligent people who have difficulty communicating or interacting with others. By the same token, we know people who are not very bright but have a way of turning a situation in their favour. Advocates of EI would say that it is precisely these differences that determine if you will be a star performer.

The term Emotional Intelligence has come to light largely due to the popularity of Daniel Goleman’s 1998 Working with Emotional Intelligence book, in which he created a tool to measure EI behaviour.

However, Emotional Intelligence is a relatively new term for a very old concept. In fact, most of us are already familiar with the term, otherwise known as a person’s soft skills. Charles Darwin

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even noted the importance of soft skills over a hundred years ago.

Emotional Intelligence is based on the theory that those individuals that have high scores in certain soft skills, known as emotional competencies, will lead to superior performance. There are numerous emotional competencies listed, depending on the research you read. My experience has demonstrated three emotional competencies that all high flying executives possess, which are: • Self-awareness - the ability to understand and reflect upon one’s own emotions, behaviour and desires. This competency can be identified by how a person carries himself, has a sense of humour, and how secure (or insecure) a person presents himself.

• Empathy - the ability to have empathy for, understand, listen, learn from, and read others. This competency is key to demonstrate their management skills.

• Relationship management - the ability to inspire, influence, and develop others.

This competency can be gauged in the way the person interacts with others.

This component is especially critical for a leader who must be able to manage the emotions of others.

At the same time, research by the Centre for Creative Leadership (which

By Angelica Mirza

is an organisation that has devoted more than 40 years to providing insight on today’s leadership challenges) has found that the primary causes of derailment in executives involve deficits in emotional competence. The three primary ones are: difficulty in handling change, not being able to work well in a team and poor interpersonal relations.

Within this context, Emotional Intelligence is proving to be a very powerful tool to improve performance and motivation; manage diversity; reduce conflict as well as better the levels of communication and team relationship building. Today’s business environment is very dynamic as it is placing great demands on its senior management. The ones that are able to quickly adapt, be able to manage their own emotions as well as inspire others to be productive will continue to be successful. Emotional Intelligence helps identify an executive’s strengths as well as his or her weaknesses. As a result, EI training programs are being used by many of the world’s top businesses as a development tool for their senior executives.

EI & EXECUTIVE RECRUITMENT As executive search consultants, we must remember that those candidates we present represent crucial strategic investments for the development and

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Join us

at the Executive Talent Conferences in 2008!

Our inaugural Executive Talent conference took place in Hong Kong in November 2007 and attracted over 200 delegates from 19 countries. To learn about our 2008 events, visit www.search-consult.com/events - EARLY BIRD discount offer available now!

To learn about participating in the EXHIBITION hall, email Yann Le Leyour at

Yann@search-consult.com

To learn about other SPONSORSHIP opportunities, email Jason Starr at

Jason@search-consult.com

Countries represented at previous search-consult events: Austria Australia Belgium China Czech Republic Denmark Estonia Finland France Germany Hong Kong (China) Hungary Ireland Italy India Japan Latvia Lebanon Lithuania Malaysia Mexico Netherlands New Zealand Philippines Portugal Romania Russia Saudi Arabia Singapore Slovakia South Africa South Korea Spain Sri Lanka Sweden Taiwan Thailand UAE UK and USA Delegates from major corporations at the Asia 2007 conference included: BearingPoint DBM The Coca-Cola Company Standard Chartered Bank Swiss Investment & Finance Limited DDI eFinancialCareers ON Semiconductor Jones Lang LaSalle Ogilvy & Mather Asia/Pacific Lenovo Kuehne & Nagel (Asia Pacific) Mgt. Ltd Unisys ABN AMRO Bank N.V. AIG Gold Peak Industries Ltd. G2000

Swiss Reinsurance Company HK Tourism Board SWIFT Merrill Lynch (Asia Pacific) Limited Goldman Sachs NM Rothschild & Sons St. Jude Medical (Hong Kong) Limited COACH Hay Hong Kong Limited Thomson Newell Rubbermaid Asia Pacific Ltd Shangri-La Hotels & Resorts HK & Shanghai Banking Corp.

Bank of America Island Shangi-La Hong Kong Kowloon Shangri-La Hotel

www.search-consult.com/events

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HSBC Manulife Financial Agilent Technologies KCRC Inchcape North Asia Strategic Value Partners Maxxium Worldwide Schindler Avery Dennison Zuellig Pharma Asia Pacific SunLife Financial The Carlyle Group Sims Trading Co. Ltd. Sime Darby Hong Kong Limited Credit Agricole Asset Management Limited Cathay Pacific Hutchison Port Holdings Philip Morris Asia Ltd

Tel No: +44 (0)20 7749 6102

Gammon Construction Limited Bloomberg Abbott Laboratories Ltd The Shaw Group Inc. Mary Kay Asia Pacific Macquarie Global Property Advisors Imaginex Group MOL Asia COMMERZBANK AG Hay Group Asia (Singapore) Economist Intelligence Unit Buck Consultants HR Magazine Executive Solutions IESE Business School The Standard Asiamoney

events@search-consult.com

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future of our client’s organisations. It is, therefore, critical that we be able to assess if a candidate can be an effective executive, determining the future success of a given hire based on the candidate’s EI competencies.

Emotional Intelligence provides a new way to understand and assess people’s behaviours, management styles, attitudes, interpersonal skills, and potential - serving as a critical tool for management development as well as job profiling, recruitment interviewing as well as selection.

For example, when a search consultant is presented with a great CV that meets all the specifications of a client, it is our job to see if the candidate really is right for our client. Emotional Intelligence can be used when you have two equally competent candidates with similar profiles. Which of the two would make a better fit and become an integral member of our client’s organisation?

Which of the two will be more effective in the role in question? Which of the two has more long-term growth prospects at the client’s organisation?

We also look at both candidates in different social settings to see how each manages different situations, how each deals with his or her own emotions effectively, as well as how each manages the expectations of his or her superiors, colleagues and the individuals that will report to him or her. The power of these soft skills won’t make an incompetent person successful, but it could be the difference between selecting a mediocre candidate that may leave in a year’s time or selecting a first rate executive that will become an integral part of your client’s organisation, contributing to increasing its productivity for many years to come.

EI can also help search consultants build more effective networks, targeting candidates that already have the emotional competencies required to fit in and be successful in their clients’ organisations. For example, today’s CEOs and other C- level executives usually have high scores in the following

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economic competencies: Influence, Communication, Leadership, Change Catalyst, Conflict Management, Building Bonds, Collaboration & Cooperation as well as Team-Building Capabilities.

Angelica Mirza

As executive search develops into an ongoing relationship with clients, executive search consultants must become trusted advisors and provide permanent feedback on what candidates think about: the clients organisations, the opportunities and challenges the roles entail and the compensation packages offered. We also provide our clients with advice regarding their organisational development and talent management strategies. As a result, Emotional Intelligence helps us support our clients more effectively.

For example, EI helps us better assess the candidate profile as we look at the candidate’s experience, but also look at the emotional competencies (otherwise known as soft skills) required for that executive to be considered a star performer. Are they realistic? Are there any emotional competencies that contradict one another? Being able to identify these issues before the search begins can help you find the right candidate sooner as well as improve

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your relationship with your client since they will appreciate your expertise in this matter.

In fact, search consultants are constantly finding themselves in situations where they are managing relationships with clients, colleagues and candidates. By developing our Emotional Intelligence we can become more productive and successful at what we do, and help others to be more productive and successful too. EI, if used wisely, can help a person find success, professionally and personally.

It can help clients: select more wisely, reduce turnover, better the levels of communication, improve relationship building, reduce conflict, stress and thus, increase the company’s productivity levels.

By the same token, Emotional Intelligence can help you become a better executive search consultant as you interact more effectively with your clients and candidates, selecting star performers and offering clients a more personalised service.

Angelica Mirza is a Senior Consultant at Alexander Hughes. She is Canadian, and brings more than 10 years experience from the UK and Italian markets. Her industries range from Financial Services, Pharmaceutical, Oil & Energy, and Consumer Markets.

Angelica has a Masters Degree from Boston & a BA from the University of Calgary, Canada. She brings a unique perspective to her work having studied sociology and criminology, combined with Business.

Her interest in combining psychology and business management lead her to Executive Search, which allows her to leverage the best of both worlds.

She speaks English, Italian, as well as basic French and has travel extensively throughout the Americas, Europe, the Middle East and Asia.

Alexander Hughes is an executive search firm dedicated to helping its clients acquire and retain the vital human capital they need to achieve their strategic business goals. This leading firm has a track record of success in finding the right candidate for its clients. This success reflects the skills, commitment and creative insight of their consultants who, most importantly, remain attuned to their clients’ core recruitment requirements.

www.search-consult.com For more information visit or contact: Web: www.alexanderhughes.com Email: mirza@alexanderhughes.com

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Consumer Services Its Impact

&

Executive on Recruitment I

n recent months the consumer services market has been subject to a number of difficult challenges as the full effect of the credit crunch and the spectre of the sub prime mortgage crisis have started to hit several of the world’s economies.

In the UK, this has only served to compound the issues caused by rising interest rates and increasing household bills such as utilities, fuel, insurance premiums and weekly groceries which is having a dramatic impact on people’s disposable income. More recently, we have seen house prices start to fall for the first time in several years as movement within the housing market stagnates. This has resulted in dampening sales across consumer services and in particular the financial services, retail and leisure sectors have been badly hit. Predictions from the City indicate that the decline in sales looks set to continue. According to a recent report from the Confederation of British Industry, costs are expected to continue to grow at a rapid rate. With less scope to raise prices, businesses are under increasing pressure to differentiate themselves on the basis of their brand and service offerings,

By James Isaacs undoubtedly placing a further strain upon profit margins.

The difficulty faced by the executive search industry in this climate is how to encourage talented professionals to move when there is uncertainty regarding business performance and the future security of many roles. This situation is further complicated by the uncertainty regarding mergers and acquisitions. Whilst a deflating market drives lower share prices - which in turn make mergers and acquisitions more financially attractive - the credit squeeze is also causing potential deals to collapse. There has been much in the press recently regarding Qatari-backed investment group Delta Two’s bid for J Sainsbury which fell through. Delta Two blamed credit market turbulence for dropping its bid. In contrast, KKR and TPG’s $45bn purchase of the energy group TXU, and KKR’s $26bn acquisition of First Data closed at the proposed prices. We have also recently seen several high profile resignations such as those of Chuck Prince, Chairman and Chief Executive of Citigroup and Philip Moore, CEO of Friends Provident. What is next for the members of the Northern Rock board?

UNCERTAINTY LOOMS Candidates will naturally be more reluctant to take the risk of moving into organisations where there is a possibility that the incumbent board could be about to depart, or where there is uncertainty regarding future ownership. Their likely preference is to remain where they are, regardless of the fact that they may be dissatisfied with their current role.

This is compounded by organisations stalling the recruitment process whilst they consider the market conditions full impact or await the arrival of a new CEO. Signs are already emerging as organisations are starting to delay the decision-making process in regard to recruiting for key positions, partly driven by uncertainty with regard to the future and partly by organisations being forced to review costs and budgets.

This type of behaviour sends the wrong message to candidates and causes them to question the genuine intent of the hiring organisation. In such times it is even more important for the search firm to fully understand and then be able to communicate to potential candidates the environment in which a client is trading, their attitude towards the market, how the recruitment process ISSUE 33 2008 search-consult

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will work and how the key influencers in the decision-making process will operate.

In this difficult economic environment it is critical that organisations understand that in order to continue to succeed, they must employ talented and resilient individuals. These professionals should have a successful track record in market development, product diversification and/or change management.

Within this context, the role of a search firm is to ensure that it has a deep understanding of its clients’ markets, has identified this sought after talent and more importantly, already has established a strong relationship with them. The ongoing debate about attracting, retaining and developing highly talented individuals will become more heated as these individuals continue to be sought after, commanding a premium for their experience.

In Wrightson Woods’s experience, a search firm must also be able to source new talent skills. For instance, there will be a number of talented individuals entering the marketplace, particularly from within the financial services sector, as organisations are forced to consolidate and cut costs to ride out this financial storm. These individuals will be quickly identified for potential opportunities. It is precisely those search firms that have strong talent networks and a reputation for quality and success that will be best placed to take advantage of this situation.

ADDING VALUE Recently, the executive recruitment industry has enjoyed an exceptionally buoyant time, with record revenues being experienced by many. However, as organisations start to tighten their recruitment budgets, search organisations will have to consider how they can support their clients, finding new ways of adding value. Those search firms that have established genuine partnerships with their clients and are sought after for their advice, opinion

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and support are more likely to succeed.

As organisations start to assess the cost of hiring new talent, there will be a push for businesses to offer a differentiated proposition, including a challenge on cost. It is the large publicly listed search firms - with their heavy overheads and generalist approach to the market - that will suffer most. Consolidations will take place in the mid market, evidenced by the activities of firms such as Hydrogen and OPD. Smaller established boutique firms, nonetheless, have a greater chance to succeed. With a much deeper and closer understanding of their chosen industries and clients, they are better able to predict and plan for changes in the market. Smaller firms can also offer greater flexibility in their approach, to executive search.

Leveraging their close network of contacts and unencumbered by large infrastructure (e.g. expensive offices, and sizeable numbers of employees), and rigid processes, they are able to respond with greater speed to the clients requirements. This is particularly true in the current climate where clients may need people quickly, in order to respond to changes in the market. In addition, they may have established a presence in both mature and emerging markets to manage their potentially counter cyclical activities.

Successful businesses will be those that have the agility and acumen to respond to a much tougher recruitment marketplace. From the experiences gained post 9/11 when the recruitment market plummeted, it is those executive recruitment firms that successfully balance the needs of the client, a high quality service and in-depth expertise that will be best placed to survive the difficult times ahead. Firms will not be able to rely on their brand name alone; instead there will be greater scrutiny from both candidates and clients on the value of the services provided.

However, as the UK and US markets brace themselves for tougher times,

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emerging markets such as Brazil, Russia, India and China (known as the BRICS) are thriving. In fact, for the first time in 2007 they recently accounted for half the world’s economic growth and arguably have sufficient weight to withstand an advanced world financial crisis.

In Wrightson Wood’s own recent experience, Africa is also experiencing significant growth with African organisations recognising the opportunities available through global expansion. With the potential for global talent to be displaced from major financial institutions, search firms who have the contacts to operate within the emerging markets will have the opportunity to leverage what has become a growing and exciting employment market. Candidates who possess the skills to operate in these markets and who are globally mobile will be in great demand as the growth in both Africa and the BRICS looks set to continue.

James Isaacs joined Wrightson Wood in 2002 as Managing Director and is an equity partner. The majority of his search experience has been within the financial services industry, with particular emphasis on the personal finance sector, encompassing general management, marketing, strategy, sales, distribution, risk and human resources. However, the diverse nature and needs of a number of clients have given James the opportunity to expand his experience across a broader range of functional and industry sectors throughout Europe, the Middle East, Russia and Africa.

Wrightson Wood has been a respected and established executive search firm since it was founded in 1978. They pride themselves in being a privately owned specialist, with an in-depth and long-term knowledge of specific markets and functions. With a representation in London and Bristol, Wrightson Wood maintains strong and deep relationships within large and small businesses, both here and abroad. They understand the needs and complexities behind the markets they serve and proactively seek new sources of talent. With a strong reputation for the quality of their work, they have traditionally specialised in consumer financial services, but are increasingly expanding their knowledge further into the broader consumer goods and services market places, successfully targeting niche and specialist skills along the way.

www.search-consult.com For more information visit: Web: www.wrightsonwood.com

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Linking In with LinkedIn

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he latest area of technology to impact on the search industry is that of social networking. For a more detailed discussion of this topic, you will want to attend search-consult’s “Executive Search Consulting” Conference in New York on March 10 – conference which features a session from Lauryn Franzoni, Executive Editor of ExecuNet, specifically on social networking in search. For this brief article, however, I’d like to focus exclusively on LinkedIn®.

For many, LinkedIn® will be less well known than Facebook or MySpace. Unlike these sites, however, LinkedIn® is very much targeted at the professional demographic. According to the website, the average member is 41 years of age and has a household income of US$106,000 – higher than the average reader of the Wall Street Journal. Of the 17 million members, 1.5 million claim to be C-Level executives – potentially, an executive search goldmine.

So how does the system work? Essentially, you register at www.linkedin.com and then look for people you know.

When you find someone, the system allows you (subject to acceptance from the ‘contact’) to connect to them.

The real value of the system however, is that the act of “connecting” allows you expand your network - in addition to your own personal contacts, the system allows you to reach out to users who are up to three degrees from you through introductions. For example, I personally have 90 “Connections” (primarily colleagues, clients and a couple of speakers from our events). However, through my network I am connected to over 1,651,000 professionals (this figure has grown by 19,650 in the last 10 days!). I can contact any of these individuals, via an introduction, for free. Furthermore, if I pay a small subscription fee to LinkedIn®, I can actually make contact (albeit with some

By Jason Starr constraints) to any of the 17,000,000 members in the entire network. Contact is made via the internal LinkedIn® system – bypassing assistants and gatekeepers.

As a research tool, LinkedIn® is one of the best…..which is why it is now integrated with Dillistone Systems’ FILEFINDER Executive Search Management System.

For the purposes of openness, I should point out at this stage that search-consult magazine is published by Dillistone Systems – suppliers of FILEFINDER software. search-consult is also running the Executive Search Consulting Conference in New York, mentioned earlier. I am publisher of search-consult, co-host of Managing Director of Dillistone Systems.

Now I’ve explained why I am biased, I can explain why I am so proud of the technology that allows our users to access LinkedIn® data directly from their FILEFINDER system.

We’ve achieved it through our unique “ContextBrowser” technology. Existing users of FILEFINDER will recognize this as the tool which we’ve used in the past to automatically download news stories on companies in their FILEFINDER database.

The new LinkedIn® functionality typically begins from a FILEFINDER company record. The user looks up a company in FILEFINDER (in the case of the Screenshot, Bristol Myers Squibb), and the system then returns a page which features data from the internal knowledgebase at the top of the screen, with a browser at the bottom the screen containing the appropriate Company record in LinkedIn®. It should be noted that the full LinkedIn® website appears in the browser area, with full LinkedIn functionality (i.e., the page is not spidered or framed).

Although I don’t personally know anyone currently employed

by Bristol-Myers Squibb, within my network of 1.6 million people, over 500 are currently employed by the company. The screenshot above shows the first three of them.

As part of my research work, I might wish to add some of the individuals to my FILEFINDER database. To do this I simply click on the name of the person who interests me, and then click on the “PDF logo” to download the bio of the person into my FILEFINDER Import tool for subsequent validation and then automated import into the database. Obviously, any data stored on individuals is subject to local data protection laws whether they have been found through LinkedIn® or other research techniques. See www.aesc.org/article/dataprivacy/ for more information on this topic.

There is no question that LinkedIn® is a hugely popular tool within the retained search community and I would certainly recommend that you give it a try. If you found this article useful, by all means link to me via www.linkedin.com/in/jasonstarr2007 !

Further Information: LinkedIn® may be found at www.linkedin.com (!). My LinkedIn® profile is www.linkedin.com/in/jasonstarr2007 To learn more about FILEFINDER visit www.dillistone.com or email sales@dillistone.com To learn more about the “Executive Search Consulting Conference” in New York on March 10th visit www.search-consult.com/newyork2008

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International Executive Talent Crisis

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By Albert Hiribarrondo, Thomas J. Fuller and Sherilyn Shackell

omen and minorities are the coveted demographic for executive search firms throughout the world to help clients meet the critical talent shortage at the top due to the increasing global demands being placed on executives as well as the Baby Boomer retirement.

The baby boom generation is generally defined as the population born between 1946 and 1964. Employees in this demographic group range in age from 43 to 61, and are expected to begin leaving the workforce in 2008 as the first wave of boomers turns 62.

Statistics show that 30 percent of the current executive suite will be retiring within five years - a huge percentage - and there just isn’t enough talent to replace them.

The critical demand for senior level executives has led us, as industry thought leaders, to meet and discuss how the corporate world will deal with changing demographics, organizational transformation, talent acquisition and diversity in the executive suite.

As the critical talent shortage worsens, nearly 80 million baby boomers in North America alone enter their retirement years, and Europe experienced a similar baby boom as did most of the developed

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world post - World War II. Executive search leaders from throughout the world met in Paris for a conference recently to discuss the pressing question: Who will take their place in the executive suite?

More than 50 delegates from our organization, IMD International Search and Consulting, top-tier executive search firms with locations in 25 countries across the world, gathered for a biannual conference in Paris in late November, where they discussed ways of attracting talent to the executive ranks in the face of the world’s fast-changing demographics.

The conference also included a dual celebration and gala dinner in honor of our global organization’s 35th anniversary and the 30th anniversary of our host firm, Parisbased Sirca/IMD. UNDERSTANDING DIVERSITY The term “diversity” is taking on new meaning among companies that are focused on building dedicated and strategic workforces. Most sizable companies today use some form of diversity initiative in an effort to provide appropriate jobs and career opportunities for minorities and women. While these initiatives typically address race and gender, it is still rare to find companies’ hiring policies targeting

candidates for the executive suite who think differently and don’t fit the traditional cultural standard.

Diversity of thought—often the last form of diversity to seep into a company’s culture—is becoming an important recruiting strategy for today’s leading organizations.

In terms of age, origins and gender, there is a need to open the doors to new profiles and to new solutions for dealing with the problem.

To get a more precise view of the Csuite landscape, IMD International Search and Consulting is conducting a study of senior executives from the global 1,000 companies “The Changing Face at the Top,” as a follow-up to its 2005 survey, “Mobility of Managers.” The results will be released at its May 2008 conference in New York.

WINNING THE TALENT WAR To win the talent war we need to explore previously untapped targets. One of the largest targets is female executives.

Consider: just 2 percent of the CEOs in the United Kingdom are female. In the U.S., just 10 of the CEOs among the Fortune 500 companies were women in 2006, and only 20 Fortune 1000 companies had women as their leaders.

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Albert Hiribarrondo

IMD International Search and Consulting partners urge organizations, both large and small, to look at their environments and analyze their situations to assist them in finding solutions to the executive shortfall. There must be an evolution in minds, in families and society.

The first step is the awareness that things have to change in order to tap into the phenomenal potential of gender and ethnic diversity in their organizations.

Our role as executive search consultants is to help our clients find ways of bringing more women and minorities into the management ranks as well as mentoring and developing them to rise into upper management positions.

For example, David Greenberg, Senior Vice President of HR for L’Oréal USA, a client known for its progressive diversity program, recently stated: “Do we have enough diversity? Not just international and ethnic diversity, but a diversity of thought—which is key to how L’Oréal fosters innovation. A diverse group of people can be more innovative than a homogenous group. There might be more friction and discomfort among people who think differently, but the output is more innovative.”

THINKING OUTSIDE-OF-THE-BOX Encouraging clients to consider a

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candidate who would think outside-thebox and challenge conventional thinking (even if done appropriately) makes them cringe. They consider “group think” or uniformity-in-thinking as a positive outcome of a productive meeting or decisionmaking process. You often hear clients’ comments such as “he is a real maverick and won’t make it around here,” or “great background and education, but she’s just not a culture fit.”

This whole concept of hiring, developing and promoting for diversity whether of gender, ethnicity or of thought - is not novel. There are companies, especially in the technology sector, that are doing a good job of bringing in the right people and unleashing their potential.

Witness companies like Google, eBay and MySpace who focus on hiring people who are intelligent, diverse (in background, experience and thought) and creative who drive breakthrough discoveries, challenge the rules of convention, create exciting new products and reshape the marketplace.

Companies should look closely at this model because establishing a workforce that is diverse in thought and ideas is a business imperative.

Epsen Fuller/IMD, for example, has made it its mission to recruit more diverse candidates and strives to deliver a diverse slate on every assignment. In the last five years, more than 40 percent of the firm’s placements have been either women or minorities. Its global candidate portal has helped the firm target international candidates and has enhanced its efforts to provide diverse candidates to its clients.

IMD International is rolling this capability out across all of its offices in early 2008.

Now more than ever, borderless searches for human capital are in demand to help prepare corporations for this mass exodus of talent and knowledge from every sector of industry dominated by boomers.

Corporations will find that they just cannot continue to pay lip service to diversity.

When a “diverse” employee finds no role model or mentor at the senior level, he or she will be more apt to take advantage of a

Sherilyn Shackell

downsizing or a reduction in workforce as a way out to pursue other interests because of that glass ceiling.

BREAKING STEREOTYPES Organizations need to get away from thinking about diversity as a numbers game and think about it as a global mind set, developing strategies that mirror their consumer base. Global companies with a multi-cultural customer base should have a diverse workforce. They must have a diverse way of thought, not a myopic view of the world.

A recent study conducted by Cedric Herring, professor of sociology at the University of Illinois at Chicago “Does Diversity Pay?: Racial Composition of Firms and the Business Case for Diversity,” found that businesses with greater racial diversity reported higher sales revenues, more customers, larger market shares and greater relative profits than those with more homogeneous workforces.

Successful organizations recognize the need for immediate action and see that the organization’ssuccessandcompetitiveness depend upon its ability to embrace diversity and realize the benefits. When organizations actively assess their handling of workplace diversity issues and develop and implement diversity plans, they are able to create a greater connection with

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their customer base, provide service to customers on a global basis and better execute company strategies resulting in higher productivity, profit and return on investment.

One clear example is HSBC, “the neighborhood’s bank”, who has made a clear objective to have their workforce and executive ranks reflect their customers globally. Michael Geoghegan, Chief Executive, HSBC said “We believe the world is a rich and diverse place, full of different cultures and communities who should be treated with respect and from whom we have a great deal to learn.

Within HSBC, we know that employing and managing diverse people gives us a more rounded and balanced organization and makes us more adaptable to new situations.”

We advise corporations that the best way to get there is by demonstrating diversity at the top of an organization, developing good mentoring programs and providing employees with educational programs to expand their capabilities through training sessions, workshops, guest speakers as well as participation and sponsorship of community-based diversity programs. Also, corporations should invest in their futures by cultivating strategic procurement relationships with diverse companies.

Many of the IMD partners experience client resistance when placing women and minorities in top positions in organizations.

One of the reasons is persistent stereotypes, such as “women are more mothers than CEOs” or “foreigners cannot understand the culture, or do not have influential networks.”

These stereotypes create a glass ceiling for the progression of women and minority executives. But with the increasing talent shortage, we need to face the fact that there is no other choice. It is time to consider the positive aspects of diversity at the top: A mixture of talents and profiles, increased dynamism, broader intellectual capacity and perspectives, building competitive advantage and better preparation for the global market.

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Albert Hiribarrondo, General Managing Partner and Global Board Chairman, IMD SIRCA - IMD International Search and Consulting, France Hiribarrondo joined SIRCA (www.sirca.fr) as managing partner in 1997. He specializes in the executive searches of experts and top executives mainly in the industrial and transports sectors, with high technical and human challenges, as well as governmental organizations.

Hibarrondo is an engineer and has an MBA in finance. From 1981 to 1992, he was production site manager, then export manager for the international food and beverage company of Martini & Rossi Group. Hiribarrondo then became a senior consultant in a recruitment firm, Development Manager. From 1993 to 1997, he was nominated Dean and CEO of Poitiers Business School of Management.

Thomas J. Fuller

Top Five Ways Corporations Can Diversify Their Executive Suite: It starts at the top: Demonstrate diversity at the C-Suite and board levels.

Expand the mindset: The most successful organizations reflect their customer or end-user base and are culturally and intellectually diverse.

Mentorship: Develop a robust mentoring program designed to share knowledge, enable successful navigation of corporate culture and promote visibility of the diverse employee population.

Employee referrals: The best way to recruit and build a reputation of supporting diversity is to rely on happy employees refer friends and colleagues into the company... let them be your best spokesperson for diversity.

Employment branding: Support organizations that promote diversity, education and professional achievement and build a brand of inclusiveness among your community customers and employees.

Thomas J. Fuller, General Managing Partner, IMD Epsen Fuller & Associates/IMD International Search and Consulting Network, U.S. Fuller entered the executive search industry with 22 years in line and senior management experience in mid-cap and large enterprise consumer products companies including General Mills, Betesh Group and Accessory Network, and was the visionary behind several brand launches.

Dedicated to serving the strategic human resource needs of large enterprise clients as well as venture-backed, emerging-growth companies, Fuller launched Epsen Fuller & Associates (www.epsenfuller.com) in 1997, and developed the proprietary Human Capital Valuation SystemSM and their highly successful Performance Based Assessment approach to searches.

Sherilyn Shackell, General Managing Partner and Global Board Director Highfield Human Solutions / IMD International Search and Consulting, U.K. Shackell began her career in executive resourcing in 1988 following a retail management career with the Sears Group. She joined Highfield Executive Search as account director and in 1995 and became director of research for the global search division of the group, establishing it a center of excellence for delivering first class global research. In July 2001 she acquired the company, rebranding it as Highfield Human Solutions (www. highfielduk.co.uk).

Shackell is also Director of Penny Ferguson Ltd a leadership development organization and Chairman of Adfocus Recruitment.

IMD International Search and Consulting is a high-powered organization of global executive search firms representing 25 countries in Europe, Asia and the Americas. Celebrating its 35th year, IMD International specializes in placing toptier executives throughout the world in the areas of telecommunications and technology, fast-moving consumer goods, industry and manufacturing, and financial and professional services.

www.search-consult.com For more information visit: Web: www.imd-search.com

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Executive Search Events 2008 Stanton Chase North America Partners Meeting Building Search Strategies Webinar Name Identification Webinar InterSearch European Meeting Approaching Candidates Webinar Executive Search Workshops Pre-Screening Candidates Webinar Stanton Chase EMEA Partners Meeting IESF Asia Pacific Conference Executive Search Workshop IESF Americas Conference The Executive Search Consulting Conference Best Practices for Search Business Development Workshop Executive Search Workshop IESF Europe/MEA Conference Getting the Complete Picture Webinar InterSearch Annual Conference

FEBRYARY 6-7 13 20 24-25 27 MARCH 4-6 5 6-7 6-7 7 7-9 10 11 11 13 - 14 19 27 - 30

Atlanta, GA, USA Online Online Ghent, Belgium Online London, UK Online Johannesburg, South Bangkok, Thailand New York, NY, USA New York, NY, USA New York, NY, USA New York, NY, USA New York, NY, USA TBC Online Buenos Aires, Argentina

World Search Group EMEA Regional Meeting IIC Partners Americas/Asia Pacific Meeting Executive Search Workshops The Research Practitioner - Skills Training Days

APRIL TBC 2-7 10 - 11 23 - 24

Paris, France Kauai, HI, USA Dallas, TX, USA London, UK

INAC Global Assembly Nosal Partners / Alexander Hughes / Strategic Executive Search (SES) Global Partner Meeting IMD Partners Meeting Building Search Strategies Webinar Stanton Chase International Partners Meeting Executive Search Workshops Name Identification Webinar IIC Partners European Meeting

MAY 3-6 3-7 8 -10 14 15 - 17 20 - 22 21 28 - 30

D端sseldorf, Germany Las Vegas, NV, USA New York, NY, USA Online Paris, France Brussels, Belgium Online Dublin, Ireland

Approaching Candidates Webinar Pre-Screening Candidates Webinar Signium International European Regional Meeting Getting the Complete Picture Webinar

JUNE 4 11 12 - 14 18

Online Online Stockholm, Sweden Online

SEPTEMBER Executive Search Workshops IESF Global Annual Meeting IIC Partners Annual General Meeting IMD Partners Meeting Executive Talent in Europe World Search Group Annual General Meeting & Conference INAC General Assembly Executive Talent in Asia

9 - 10 Chicago, IL, USA 10 - 13 Hong Kong, China 24 - 26 Vancouver, Canada OCTOBER TBC 20 - 21 NOVEMBER 8 - 11 8 - 11 19 - 20

Prague, Czech Republic Frankfurt a/Main, Germany Cape Town, South Africa Sydney, Australia Hong Kong, China

- see FILEFINDER at this event. Tell us about your events: editorial@search-consult.com

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This series of online seminars gives the person responsible for executing each phase of the search the basic building blocks needed to insure a successful search outcome. They are aimed at the search practitioner, researcher or consultant, at a search firm or in-house search team, who is looking for a process oriented, disciplined approach to search. Betty Wong Tomita & Gai Galitzine have been executing searches in the Americas, Europe and Asia for more than 25 years.

They have used their experience to develop full day workshops for beginning as well as experienced executive search consultants and support staff. This series of real-time online seminars is a unique opportunity for those people who are unable to attend the workshops to benefit from the techniques and approaches Betty and Gai have distilled from their broad knowledge of the industry. Each seminar provides an in-depth exploration of specific topics in the search process through interactive dialog and demonstrations based on extensive real life search experiences.

BUILDING SEARCH STRATEGY – How do I lay the groundwork for a successful search?

Acquire the basic tool kit for getting a jump-start on every search.

Discover how to get the information you need at the start of the search.

Learn how to develop a disciplined search strategy and process.

DATE AND TIME: February 13, 2008; May 14, 2008.

New York 11am; Los Angeles 8am; London (UK) 4pm; Frankfurt (Germany) 5pm

NAME IDENTIFICATION – How can I find these people?

This seminar outlines different methods of getting names with a focus on the cold call into target organizations.

Basic cold call telephone approaches with real life examples.

How to prepare in order to get the most out of every call.

DATE AND TIME: February 20, 2008; May 21, 2008.

New York 11am; Los Angeles 8am; London (UK) 4pm; Frankfurt (Germany) 5pm

APPROACHING CANDIDATES – How do I get the most out of this conversation?

Covers key telephone techniques including how to engage the other person and how to pitch your search.

Learn how to listen and build a relationship on the phone.

Demonstration of the art of soft sell and sourcing.

DATE AND TIME: February 27, 2008; June 4, 2008.

New York 11am; Los Angeles 8am; London (UK) 4pm; Frankfurt (Germany) 5pm

PRE-SCREENING CANDIDATES – Is this person a candidate?

How to put together a checklist.

Learn how to hear what they are really telling you and how to hear what they are not telling you.

Find out how to evaluate what you have heard.

DATE AND TIME: March 5, 2008; June 11, 2008.

New York 11am; Los Angeles 8am; London (UK) 4pm; Frankfurt (Germany) 5pm

GETTING THE COMPLETE PICTURE – How do I check references?

Develop a referencing strategy.

Find out how to question effectively and how to listen to the answers.

Learn how to assess the responses.

DATE AND TIME: March 19, 2008; June 18, 2008.

New York 11am; Los Angeles 8am; London (UK) 4pm; Frankfurt (Germany) 5pm For more information and to book please visit www.search-consult.com/webinars Each session costs US$150 / UK£80 / €100 Please call us on +1 (201) 653-0013 or +44 (0)20 7749 6102, or send an email to events@search-consult.com.

Online payment facility as well as downloadable booking form available at www.search-consult.com/webinars

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Wherever you do business.

The Amrop Hever Group is a global partnership of entrepreneurial executive search firms. Operating more than 80 locally owned offices in over 50 countries around the globe, we are one of the largest executive search organisations in the world.

We speak over 100 languages but always with a single voice.

We offer an ideal balance of global reach and deep-rooted local expertise. Entrepreneurial in spirit and free of corporate hierarchies, we have the flexibility to be more responsive to our clients’ unique needs.

Our early presence in the emerging markets shows our proactive investor’s approach.

Our world-leading research is backed by our rich collective experience and our vast network of contacts crosses all regions, sectors, disciplines and cultures.

Our common focus is on understanding priorities, ensuring quality and delivering value while building long-term relationships – wherever you do business.

www.amrophever.com Argentina•Australia•Austria•Belgium•Brazil•Bulgaria•Canada•Chile•China•Colombia•Czech Republic•Denmark Ecuador•Estonia•Finland•France•Germany•Greece•Hungary•India•Indonesia•Ireland•Italy•Japan•Latvia Lithuania•Lebanon•Lithuania•Mexico•Netherlands•New Zealand•Norway•Peru•Philippines•Poland•Portugal•Romania Russia•Singapore•Slovakia•South Africa•South Korea•Spain•Sweden•Switzerland•Thailand•Turkey Ukraine•United Arab Emirates•United Kingdom•United States•Venezuela

Copyright © The Amrop Hever Group 2006

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