August 2, 2012 – Executive search firm Heidrick & Struggles International has withdrawn it's financial guidance for 2012, citing "increasing uncertainty about the pace of global economic recovery." Volatility in foreign markets has cut into the firm's primary executive talent business, with Europe down 21 percent and Asia Pacific down 25 percent for the quarter. In the firm's America's region net revenue also declined, dropping 15 percent — this at a time when many of it's smaller competitors are reporting double digit gains in the region. Heidrick's shares dipped nearly 10 percent this week to three year lows. Nearest rival, Korn/Ferry International, has also seen it's shares under pressure; the global recruiter is trading at roughly half the level it was 18 months ago. Next week publicly held CTPartners will announce it's second quarter financial results. The firm recently retained investor relations counselor EVC Group to raise it's exposure within the investment community and to more succinctly communicate it's strategy to investors and stakeholders.
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