April 26, 2017 – McDermott & Bull posted revenues of $12.3 million last year, a 54 percent rise from the previous year, according to the latest statistics report soon to be released from Hunt Scanlon Media. The Irvine, CA-based search firm currently has 13 consultants across five offices.
“A number of factors contributed to our growth,” said Rod McDermott, co-founder and managing partner. “For the first time in the firm’s 16-year history, we appointed a chief talent officer (the role is held by Le Anne Harper, who previously served as the firm’s VP of recruiting and SVP of operations).” The continued rise of MB Interim Leaders also played a big part in its growth story in 2016. “This emerging business differentiates us in a powerful way, as it gives the firm the ability to provide both permanent and interim executive solutions for current and prospective clients,” he said.
Productivity Way Up
Several of McDermott & Bull’s sector practices grew substantially in 2016. Its banking practice expanded by 44 percent, while its private equity practice achieved 47 percent growth. The firm’s consumer brands practice closed 33 percent more business during the year, while its aviation & aerospace practice realized 10 percent growth. Overall, said Mr. McDermott, the firm completed 98 search assignments with for an average fee of more than $80,000.
Last year, McDermott & Bull launched its marketing and communication center (MCC), providing various marketing and branding services for the firm and its various practices. “This allowed our search consultants to focus solely on their business development and search execution responsibilities,” Mr. McDermott said. “One of the MCC’s most successful marketing efforts in 2016 was its ‘5 Leaders, 5 Questions, 5 Days’ campaign, which gave our aviation & aerospace practice a platform to form and showcase deep relationships with industry luminaries during EAA’s AirVenture event.”
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Mr. McDermott said he remains bullish for 2017, expecting productivity to continue rising. This year, he said, has already started with more assignments than at the same time in 2016. “While we’re not anticipating the same significant growth from 2015 and 2016, we are expecting to grow nicely this year by closing more search assignments at increasing levels of compensation,” he added. “With the formation of McDermott & Bull Europe and the recent acquisition of Amsterdam-based Interconsultants, we now have an established international presence and a team of seasoned consultants who have executed searches throughout North America and Europe.”
But the search firm clearly has its sights set on domestic expansion and it is focused on adding several new search consultants to its team to handle hot and in-demand talent requests in cybersecurity, non-profit, and higher education. It also plans to open more offices throughout the Northwest, Southwest, and East.
Highlights From 2016 Include:
- Jake Vander Zanden was named as a principal consultant and leader of the firm’s life sciences practice. Mr. Vander Zanden brings more than 25 years of life sciences industry experience, including 15 years in a variety of senior global roles with Allergan Pharmaceuticals.
- In October, the firm expanded into the Denver region with the addition of Theron Makley as principal consultant. His practice focuses on serving technology clients in the energy efficiency and renewable energy sectors. The appointment extends McDermott & Bull’s reach further into the surrounding Front Range areas, including Boulder, Fort Collins, and Colorado Springs.
- In June, McDermott & Bull named Stu Leibach as principal consultant and leader of its retail practice. Mr. Leibach has over 25 years of executive retail experience in both private and publicly held companies. He began his career as co-founder of eSpecialty Brands, based in Chicago, which he sold to a public company.
Notable Searches In 2016 Include:
- McDermott & Bull recruited Chris Casler as chief people officer at New Century Health. The assignment was conducted by principal consultants Bill Brewer and Scott Meyer, along with senior recruiting consultant Laurie Henderson. Mr. Casler spent the past nine years with Broadcom where he served as vice president of human resources.
- The firm also recruited Val Scott as chief technology and innovation officer to Golden 1 Credit Union, the nation’s sixth largest Credit Union with $10 billion in assets. The search was led by Brandon Biegenzahn, co-chair of the firm’s financial institutions practice, along with associate consultant Michelle Davis. Previously, Ms. Scott was executive vice president of technology at ClearCapital.
- McDermott & Bull placed George Myers as chief human resources officer (CHRO) with Golden 1 Credit Union, the nation’s sixth largest Credit Union with $10 billion in assets. The search was led by Brandon Biegenzahn, co-chair of the firm’s financial institutions practice, along with Michelle Davis, associate consultant. Mr. Myers has spent 19 years with Zions and was formerly executive vice president of human resources for Zions Bancorp’s largest affiliate bank, $15 billion Zions Bank.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media