omniture

Heidrick & Struggles Bangkok Office Enters War for Talent

Heidrick & Struggles International, Inc.
2008-03-06 18:40 1661

Search Firm Reports Net Revenue Growth of 58.8 percent in Asia Pacific Region During 2007

BANGKOK, Thailand, March 6 /Xinhua-PRNewswire/ -- The Bangkok office of the world's premier executive search firm, Heidrick & Struggles, says it is stepping into the "war for talent" as Thailand's businesses find it increasingly difficult to find qualified senior executives.

Partner-in-charge Michael Ascot says that competition for top talent has intensified as the Thai economy grows, with multinationals and local companies seeking executives with global experiences to take their business forward.

Heidrick & Struggles opened its office in Bangkok this year, responding to a demand for "C-suite" or chief executive officers and other senior leadership team executives. The firm also has offices in China, India, Korea, Japan, Singapore, Hong Kong, Taiwan, Australia and New Zealand.

The firm reported an increase in net revenue across the Asia Pacific region of 58.8 percent to US$78.6 million for the year to December 31, 2007 or approximately 51 percent on a constant currency basis. Operating income of US$15.9 million increased 20.1 percent over 2006 and the operating margin was 20.3 per cent, compared with 26.8 percent in 2006.

Globally, for the year ended December 31, 2007, Heidrick & Struggles reported consolidated net revenue of US$619.7 million, an increase of 29.5 percent from US$478.5 million in 2006.

In 2008, the company expects worldwide consolidated net revenue of between US$650 and US$670 million, representing growth of between 5 percent and 8 percent over 2007 net revenue. The company is targeting a 2008 full-year operating margin of 13 per cent.

About Heidrick & Struggles International, Inc.

Heidrick & Struggles International, Inc. is the world's premier provider of senior-level executive search and leadership consulting services, including talent management, board building, executive on-boarding and M&A effectiveness. For more than 50 years, we have focused on quality service and built strong leadership teams through our relationships with clients and individuals worldwide. Today, Heidrick & Struggles leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. For more information about Heidrick & Struggles, please visit http://www.heidrick.com .

Safe Harbor Statement

This press release contains forward-looking statements. The forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. Factors that may affect the outcome of the forward-looking statements include, among other things: our ability to attract and retain qualified executive search consultants; the condition of the economies in the United States, Europe, or elsewhere; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; our ability to realize our tax loss carryforwards; the timing of a partial release or full reversal of deferred tax asset valuation allowance; the mix of profit and loss by country; an impairment of our goodwill and other intangible assets; and delays in the development and/or implementation of new technology and systems. Our reports filed with the U.S. Securities and Exchange Commission also include information on factors that may affect the outcome of forward-looking statements. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Thomas Liddle

Communications Consultant

Tel: +61-2-8205-2376

Email: tliddle@heidrick.com

Eric Sodorff

Director, Corporate Communications

Tel: +1-312-496-1613

Email: esodorff@heidrick.com

Source: Heidrick & Struggles International, Inc.
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