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Chicago-based executive recruitment firm Heidrick & Struggles (HSII: NSDQ) announced yesterday the acquisition of Scambler MacGregor, an Australian-based executive search boutique serving the financial services industry.
Jory Marino, interim CEO of Heidrick & Struggles, commented on the acquisition: “Australia is one of Asia Pacific's largest and most highly developed financial services markets and the addition of Scambler MacGregor gives us added scale and expertise. This acquisition strengthens our already extensive banking and investment management relationships to better serve our clients in the region."
As part of the transaction, David Scambler and Craig Williams will join Heidrick & Struggles as partners. They, along with their team of three support professionals, will be based in the company's Sydney office. Financial details of the acquisition were not released.
Steve Mullinjer, Heidrick & Struggles' Regional Leader of Asia Pacific and the Middle East, added: “This is a new chapter of growth for our Australian operations. Since launching our financial services practice in 1989, Australia has been one of the largest markets for Heidrick & Struggles globally. We have an outstanding team in place, and this acquisition further enhances our ability to help our clients with their senior-level talent strategies.”
Since its formation in 2005, Scambler MacGregor has created a niche within the corporate and institutional banking, insurance, asset management, and wealth management sectors throughout Australia. It brings established relationships with a number of major financial services institutions.
Mr Scambler, the firm’s co-founder, stated: “I am truly delighted that the Scambler MacGregor team is now a part of Heidrick & Struggles, which has led our industry for 60 years. As part of Heidrick, we gain access to a global network and market insights that will allow us to add value to our financial services clients both in the breadth and depth of the services we offer. We know we are joining the best in the business.”