Korn Ferry Retained by Convergence for CEO Search
September 15, 2026 – Korn Ferry has been retained by Convergence to lead in its search for a new CEO. Joan Larrea will retire as CEO in early 2027 after more than a decade of leadership. Since inception, Ms. Larrea has led the organization through a decade of significant growth, helping establish Convergence as the world’s leading authority on blended finance. Her leadership has helped position Convergence as an essential convener, knowledge partner, grant maker, and market builder in a field that is increasingly central to solving complex development challenges.
Convergence’s next CEO will have the opportunity to build on that foundation and shape the organization’s next decade at a pivotal moment for blended finance. As development financing needs grow and aid budgets become increasingly constrained, the next leader will guide Convergence in deepening its impact and helping blended finance evolve and scale to meet the challenges ahead.
“Joan has been an exceptional leader for Convergence and for the broader blended finance community,” said Rachna Saxena, board chair. “Her clarity of purpose, deep commitment to the mission and ability to build bridges across sectors have strengthened Convergence’s impact and reputation around the world. We are deeply grateful for her leadership and are excited to have her support as we find the leader to take us through the next part of Convergence’s journey.”
“Joan’s tenure has been marked by integrity, strategic focus and a profound belief in the power of blended finance to unlock capital for emerging markets and developing economies,” said Peter Sullivan, board member and search committee chair. “The board’s goal is to honor that legacy by conducting a rigorous and inclusive CEO search that identifies a leader who can build on Joan’s extraordinary contributions and guide Convergence into its next chapter.”
The search committee will work closely with Korn Ferry to engage stakeholders, attract a strong and diverse candidate pool, and support a disciplined process on behalf of the board.
Convergence is the global network for blended finance, committed to mobilizing private sector investment in emerging markets and developing economies. Convergence generates and shares market data, insights, and practical guidance to build capacity, improve transparency, inform decision-making, and enable the more efficient use of concessional capital.
Korn Ferry is a Los Angeles-headquartered executive recruiter and leadership consultant and the largest globally and in the Americas. The firm’s 8,600 colleagues serve clients in more than 50 countries.
Shared Commitment
Just recently, Korn Ferry completed its acquisition of U.K.-headquartered AMS from OMERS Private Equity. The combined organization brings together two highly complementary organizations across geographies and industries with a shared commitment to drive business performance.
Related: Korn Ferry Appoints Chief People and Legal Officer
The collective firm will have more than 16,000 colleagues. In accordance with the terms of the acquisition agreement and in the context of the lock-box structure of the transaction, at the closing, Korn Ferry paid a combination of approximately £473 million and $326 million in cash (as consideration to the sellers, in repayment of AMS’s indebtedness, and in satisfaction of other AMS transaction obligations) and issued 3,118,628 shares of Korn Ferry common stock to the sellers.
“By bringing AMS into the Korn Ferry family, we are expanding our ability to help clients solve their most critical organizational challenges,” said Mr. Burnison. “Despite all of the technological innovations of yesterday, today and tomorrow, the real driver of organizational success is people. And with our AMS colleagues we will be stronger together than apart. Over almost 20 years I have watched AMS grow and evolve, with deep admiration and respect. I am convinced that the culture and values of both companies are completely aligned. And it all starts with people. This is indeed a significant milestone for Korn Ferry and I am excited about the future that we will shape together.”
For decades, executive search firms, RPO providers, leadership advisors, and consulting businesses largely operated as separate segments within the broader talent ecosystem. That distinction is disappearing. Organizations are asking fundamentally different questions than they were a decade ago. Rather than seeking isolated hiring solutions, they increasingly want partners capable of helping solve broader workforce challenges spanning executive hiring, organizational design, skills development, workforce planning, leadership assessment, and long-term capability building.
Related: Korn Ferry Launches New Talent Suite
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
