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Second quarter data just released by the global Association of Executive Search Consultants (AESC) reveals a continued rise in senior executive recruitment activity worldwide following the industry's return to growth since early 2010. The number of new executive search mandates rose +8% year-on-year (from Q2 2010 to Q2 2011), while the quarterly picture saw searches increase by +5.4% (from Q1 2011 to Q2 2011).
Most industries experienced a steady upward trend in the second quarter of 2011 with significant quarterly and annual growth, including the industrial, consumer, life sciences/healthcare and financial services sectors. Financial saw the most notable quarterly rise, up +19%, as it continued to regain its former leading market position. Technology was the only industry to fall in senior executive recruitment activity, both annually (-3%) and quarterly (-6.7%), in Q2 2011.
AESC President, Peter Felix, commented "during the past quarter executive search has once again shown considerable strength in most parts of the world and even shows promise of soon surpassing its all time peak of 2008. Increased search activity has been seen in all major regions but especially in the emerging markets where Central/South America saw exceptional quarterly growth in the number of new searches started."
"The strength in other markets has been less consistent and there is some evidence that in established markets such as the UK, Germany and France there is a flattening of demand. Nevertheless the overall picture has been most encouraging. It only remains to be seen whether the volatility surrounding the debt crisis will affect top management's willingness to continue investing in the executive talent that it needs for the longer-term."