August 18, 2010 – The second quarter of 2010 revealed the highest quarterly rise in executive search industry revenues since the low point in the recession 15 months ago, according to a report released by the Association of Executive Search Consultants (AESC). Building upon already strong quarters in the second half of 2009 and early 2010, the study shows a quarter-on-quarter 12 percent growth rate in net headhunting revenue worldwide and substantial year over year growth in the number of search mandates started across most industries and regions. Highlights include a 42 percent rise in industry-wide revenues and a 38 percent increase in the number of new executive searches started globally. Executive searches within the financial services industry witnessed the greatest growth in Q2 2010, rising 50 percent from Q2 2009. This growth was closely followed by increased search activity within the technology industry, up 43.5 percent, and then industrial (+39 percent) and consumer (+37 percent). “The critical issue now is whether the next two quarters will hold up in the face of continuing uncertainty about a double dip recession,” said Peter Felix, AESC president.
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