October 2, 2019 – The Human Capital Group has been acquired by Arthur J. Gallagher, one of the world’s largest consulting and risk management companies. Financial terms were undisclosed. “Gallagher’s mission, culture and values align with The Human Capital Group’s – to provide value-based services to clients in an intentional, respectful and high-integrity manner,” the search firm said in a statement.
Founded in 2000, The Human Capital Group is an executive search and leadership consulting firm assisting clients domestically and internationally as they seek to find and grow transformational leaders. It has completed more than 800 searches for a wide variety of senior roles across multiple industries. The firm is also a member of Cornerstone International Group, a global network of executive search and leadership development specialists with 67 offices in 35 countries.
Founder and senior partner Steve Hayes and his associates will continue operating from their current location under the direction of Scott Hamilton, global managing director of HR consulting for Gallagher’s employee benefits consulting and brokerage division.
“The Human Capital Group expands our opportunities to add value and cross sell, enabling our consulting team to develop stronger connections between our clients’ C-suites and our ‘Gallagher Better Works’ approach to career, organizational and financial wellbeing,” said J. Patrick Gallagher Jr., chairman, president and CEO. “I am excited to welcome Steve and his associates to our expanding global team.”
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, IL. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
A Closer Look
Throughout his career in human resources, Mr. Hayes has been focused on helping organizations acquire, coach and develop leaders. As his career progressed, he served in leadership roles of increasing responsibility at Amoco/BP, Frito-Lay, MagneTek, Russell Corp. and ultimately as CHRO at ClientLogic. Those experiences gave him deep insights into both the day-to-day and longer-term challenges facing organizations as well as the impact that having the right individuals in leadership positions can have on an organization’s teams and overall performance.
Mr. Hayes recently sat down with Hunt Scanlon Media to discuss the acquisition. Following are some excerpts from that conversation.
Steve, why did you decide to sell the firm?
We were approached by Gallagher, a well-respected, global, publicly-traded Fortune 500 company that seemed genuinely interested in acquiring our model, process and results-based approach to serving clients in the areas of executive search and leadership consulting. In light of our shared values, the combined strength of working together to serve clients, and the tremendous career opportunities provided to our team with such a vast organization, it was a win-win opportunity for our firm, our clients and the Gallagher organization.
“Small, independent search firms are under intense pressure to stay on top of so many priorities, from business development, to operational excellence, staff development and compensation, client satisfaction, cash flow, technology investments, marketing and social media … the list goes on!”
What impact does this have on clients?
The only impact on clients is a positive one, in that we are now backed by the resources and talent of a globally respected, Fortune 500 company with 30,000-plus associates focused on serving clients with integrity and excellence.
What are the challenges in today’s market for small, independent search firms?
Small, independent search firms are under intense pressure to stay on top of so many priorities, from business development, to operational excellence, staff development and compensation, client satisfaction, cash flow, technology investments, marketing and social media … the list goes on! Although it has been a great first 20 years as a boutique firm, we are so blessed to now be part of the Gallagher family, and we are grateful for the many ways this new relationship will better serve our clients and our team members long into the future.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media