Hong Kong Office Doubles in Headcount Size to Meet Increasing Executive Demand
HONG KONG, March 6 /Xinhua-PRNewswire/ -- The Hong Kong office of the world's premier executive search firm Heidrick & Struggles today reported a 20 percent increase in net revenue for 2007, driven mainly by expansion in the financial services sector.
Net revenue for the year ended December 31, 2007 was US$10.3 million.
Hong Kong partner-in-charge Alice Au says that headcount in the Hong Kong office doubled in size to 20 over the year.
"By taking on several new consultants we were able to expand our ability to provide solutions to clients across all industries and functional areas," Au says. "Besides our traditional strength in senior work in private equity, real estate, consumer, retail, professional services and technology, we have added industry expertise in hedge funds, capital markets, industrial and family businesses. We have also strengthened our expertise in functional areas such as finance, human resources and information technology."
Au says that Heidrick & Struggles Hong Kong has also expanded its board practice with an increasing number of placements of independent non-executive directors, both of overseas companies and regional companies.
Across the Asia Pacific region, net revenue for 2007 increased by 58.8 percent to US$78.6 million, 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 percent, 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 percent.
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 .
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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
