Searches in the Financial Services Sector Gain Momentum

May 21, 2014 – First quarter 2014 executive search and leadership consulting industry trend data published by the The Association of Executive Search Consultants (AESC) has revealed an increase in the number of new searches started within the financial services sector on both a yearly and quarterly basis, as well as market share growth. The executive search rise in financial services was accompanied by positive search industry revenue growth of +15.6 percent yearly from Q1 ‘13 to Q1 ‘14 and +4.1 percent quarterly from the fourth quarter last year to Q1 ‘14. In contrast, the number of new search mandates fell year-on-year from the first quarter of 2013 to the first quarter this year, declining -7.7 percent, yet the quarterly trend in Q1 ’14 showed search activity growth of +7.3 percent. “It is encouraging to see the momentum of the past several quarters continued into the first quarter of 2014. The U.S. economy continues to dominate in terms of its pull back from the financial crisis, but we now see clear evidence that Europe is also picking up the pace and showing optimism as far as senior executive hiring is concerned,” said Peter Felix, president of the AESC. “The main story, however, is that financial services is back as a growing sector for executive demand, now that major restructurings have occurred, and there is a clearer picture of where financial institutions will focus their efforts.”