Hunt Scanlon Media Names Top 50 Executive Recruiters

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Apr 04, 2023, 12:35 ET

GREENWICH, Conn., April 4, 2023 /PRNewswire/ -- Hunt Scanlon Media has released its annual rankings of leading executive recruiters. In the U.S. and globally, billions of dollars poured into the high-end recruiting sector in 2022, a result of continued pent-up demand for senior level leaders and their key reports.

"Despite market turbulence and a softening economy in the second half, executive recruiters pulled out another remarkably good year," said Scott A. Scanlon, CEO of Hunt Scanlon. "The industry grew 11% in the U.S. and nearly 10% globally. Nobody is complaining," he added.

According to data analysis conducted by Hunt Scanlon, 30 of the 50 largest U.S. recruiting firms enjoyed double digit growth, or more. No. 45 Artico Search, a new entrant, earned the distinction as the fastest growing search firm of 2022, rising 241%. The firm's co-founders – Mercedes Chatfield-Taylor and Matt Comyns – serve the venture capital, PE, and cybersecurity sectors. Modern Executive Solutions, another newcomer, also reported triple digit growth. Both firms were founded in 2021. No. 14 ranked JM Search, up 40%, was named the fastest growing search firm among the Top 20. No. 18 Kingsley Gate Partners was in hot pursuit of that distinction, growing 39.5%.

"Growth continues to be the narrative for executive recruiters," said Erik M. Boender, chief operating officer and head of global market intelligence for Hunt Scanlon. "Eight of 10 recruiters we polled in Q1 said they expect more growth in 2023, not less, even though signs of cooling demand for talent persist. We therefore remain bullish for a strong year ahead, despite the headwinds," he noted.

Mr. Scanlon said search firms are considering any number of strategic steps to keep growth going. "Recruiters are entering new sectors, pruning low performing talent and top grading where they can, acquiring rivals, establishing new global footprints, and expanding into adjacencies that align with their offerings. No one is standing still," he said. "We see this as the perfect time to reassess, realign, and prepare for a long runway of growth ahead."

Hunt Scanlon Report Highlights:

The Hunt Scanlon 'Top 50' U.S. Recruiting Firms produced record revenues in 2022, reporting $6.5 billion in fees generated, an 11.2% rise.
The Hunt Scanlon 'Big 5' Global Recruiting Firms reported $6.9 billion in professional fees, a record, up 9.5%. Fastest growing was No. 1 ranked Korn Ferry.
A wave of consolidations and M&A activity continued at a feverish pace in 2022. Acquisition activity will extend into 2028 as the industry expands.
Hot adjacent businesses for search firms to enter include interim solutions, leadership consulting, RPO, culture change & DEI consulting, online coaching & assessment, and AI / human enablement technologies.

To view Hunt Scanlon's latest rankings, visit https://huntscanlon.com/top-50/.

About Hunt Scanlon Media

Hunt Scanlon Media has been informing the senior talent management sector for over 34 years. Our global news and market intelligence data comes in many forms, including daily newswires, talent leadership reports, newsletter briefings, global executive leadership conferences, and social media alerts.

About Hunt Scanlon Ventures

Hunt Scanlon Ventures is an M&A advisory firm focused on the human capital markets. The firm assists in global merger and acquisition advisory, sourcing and facilitating transactions, buyouts, and growth capital investments as it guides founders and management teams to successful exits.

Contact: Erik Boender
Chief Operating Officer / Head of Global Market Intelligence
(203) 321-5115
[email protected]