The number of new executive searches worldwide fell 7.1 percent in 2012 compared with 2011, according to data released today by the Association of Executive Search Consultants.

Global retained executive search industry revenues fell 6.4 percent year over year to $9.74 billion, and the average revenue per consultant fell 4.7 percent, according to AESC data. However, the level of fees for assignments increased 1.7 percent annually in 2012, indicating continued demand for the high-end of search and leadership consulting.

For the year, North America accounted for 45.1 percent of the global executive search market share in 2012 and had the least annual decline in the number of new searches at 1.1 percent. For the fourth quarter 2012 compared to the same quarter year prior, the average number of new searched increased 8.6 percent in North America.