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Monthly Archives: August 2013

Moeilijke tijden voor headhunters

In 1953 verlieten John Struggles en Gardner Heidrick het consultancy bureau waarvoor zij werkten, om een nieuw bedrijf op te zetten dat zich zou richten op het rekruteren van corporate managers. Uiteindelijk zou de firma samen met vier anderen de ‘big five’ van headhunters vormen, en is de afgelopen 60 jaar een vooraanstaande leider geweest in de recruitment industrie. Een van de belangrijkste managers die gerekruteerd is door Heidrick & Struggles is Eric Schmidt, als CEO van het in 2001 opkomende Google in 2001. Schmidt bleef meer dan 10 jaar in zijn functie en is vandaag de dag alsnog in dienst als voorzitter. Tegenwoordig heeft Heidrick & Struggles het zwaar. De omzet daalde van $616 miljoen in 2008 naar $444 miljoen vorig jaar, met een winstmarge van 3.4%, zeer laag vergeleken met de standaard in de recruitment industrie. In juli stapte CEO Kevin Kelly op, nadat de raad van eigenaren hadden aangekondigd te overwegen het bedrijf te verkopen. De sterke positie die Heidrick & Struggles…

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Breaking news

9 in 10 graduates found work. Obama strike plans in dissaray after Britain rejects use of force in Syria. Firefighters vote in favour of strike. BBC director stands down after pay-off criticism. Dan Evans through to third round of US Open. UK gas imports hit record high. ** NYSE EURONEXT INC The global operator of financial markets appointed Finbarr Hutcheson as chief executive. Hutcheson will be responsible for the company's commercial and business development. NYSE also appointed Andrew Dodsworth as director of the London International Financial Futures and Options Exchange (LIFFE) board. Hutcheson previously served as the co-chief executive of NYSE LIFFE and Dodsworth was the executive director of market services at NYSE. The company also said Mark Ibbotson, the co-chief executive of NYSE LIFFE, would be leaving to pursue other opportunities. ** ZURICH INSURANCE GROUP The insurer's Chairman Josef Ackermann, also a former Deutsche Bank boss, resigned over the apparent suicide of the company's chief financial officer, further roiling the top ranks of the…

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Times are tough for executive headhunters

  IN 1953 Gardner Heidrick and John Struggles left the management consultancy for which they worked, to found a new company which would focus on recruiting corporate bosses. It was the first of what would become the big five executive-search (or “headhunting”) firms, and has been a leader in the recruitment industry for 60 years. The firm’s placement of Eric Schmidt as the head of the then-upstart Google in 2001 is regarded as a signature success: he stayed in the position for a decade, and still serves as the company’s executive chairman. Today Heidrick & Struggles is, well, struggling. Its revenues fell from $616m in 2008 to $444m last year, and over the past year its profit margin has been 3.4%—piddling by the industry’s standards. In July its boss, Kevin Kelly, stepped down after its board said it was considering “strategic alternatives”, including a sale. Heidrick & Struggles’s strong position in recruiting for financial firms left it vulnerable after the 2007-08 crisis. It compounded its…

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Breaking news

Call for private hospital sell-off. Cameron backs down on urgent Syria strikes. 4,000 UK pubs predicted to close. Murray beats Llodra at US Open. Fort Hood killer sentenced to death. Number of foreign nationals on benefits soars to 400,000. Allegations of fraud at Serco. Legal high deaths almost double. Douglas and Zeta-Jones take break from marriage. BARING ASSET MANAGEMENT The investment management company appointed James Ross to the newly-created role of director of investment process. Ross, who will take up his new role on Sept. 2, will be based in London. He will report to Chief Investment Officer Marino Valensise. ** BARCLAYS PLC Daniel Janes, the Australia co-head of investment banking for the UK bank, has resigned, according to an internal memo obtained by Reuters. Janes stepped down to "pursue new challenges" and his co-head, Tim Lindley, will take sole responsibility for investment banking in Australia and New Zealand, the memo said. Barclays confirmed Janes' departure. The bank also appointed Jonathan Parker to Barclays' Corporate…

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Financial focus

European stocks seen rising following upbeat data Global growth optimism buoys Asia Nasdaq stock exchange brought to a halt UK banks hit with new £1.5bn mis-selling fine US Fed “broadly comfortable” with scale-back plans Chinese manufacturing grows Eurozone growth hits 26-month high Euro ministers split on fresh Greek bailout Emerging markets hit after Fed meeting, but data lifts European shares WTI Crude rises from two-week low Brazil steps up currency intervention to $60 billion Gold swings as investors weigh stimulus against demand Strong London rents help boost UK commercial property trust Football Finance: World players’ union warn against moving to Greece, Turkey and Cyprus Focus On: Frontier markets stealing the limelight  

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Slimme leiders hebben protégés

Hoe belangrijk protégés eigenlijk zijn voor een machtig persoon werd mij duidelijk gemaakt door een vraag, die mij verteld werd door een Fortune 100 CEO. Bij het kiezen van zijn directe medewerkers vraagt hij: ‘Hoe veel top talenten heb je door de jaren heen ontwikkeld en in hoge posities binnen het bedrijf geplaatst?  Om zo na te gaan of je, als ik je vraag om iets op te zetten waarbij je moet schakelen tussen zeven verschillende geografische gebieden en vijf verschillende functies je de nodige mensen op de bank hebt zitten om de klus te kunnen klaren?’ In eerder onderzoek meette de CTI het ‘sponsor effect,’ een meetbare boost van salaris, promotie, carrière tevredenheid en retentie die sponsorschap te weeg brengt voor protétéges. Het blijkt dat er ook een ‘protégé effect’ bestaat, namelijk meer carrière tractie voor managers. Mannelijke leiders met een groep protégés zijn 11% meer tevreden met de snelheid van hun ontwikkeling dan leiders die niet hebben geïnvesteerd in high-potentials. Ondanks dat de…

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Breaking news

Carlsberg strike threatens supply. Cameron goes topless on beach in Cornwall. “I am Chelsea” says jailed US soldier. Congratulations to Ruud Wanck on his promotion to COO of Group M Interaction. Mubarak freed. Brooks phone-hacking trial delayed. Robert Mugabe sworn in again. Thai illegal elephant ring busted. BARCLAYS PLC The British bank appointed Jeff Deck as country head for Australia and New Zealand, replacing Cynthia Whelan who left in May, according to an internal memo seen by Reuters. Deck, Barclay's Asia vice chairman, had taken on the role in an interim capacity since Whelan's departure and had relocated from Singapore. F&C ASSET MANAGEMENT PLC Activist investor Edward Bramson has stepped down as chairman of the fund firm he took control of in a 2011 boardroom coup, after reshuffling its strategy and management team. The company named Kieran Poynter as Bramson's successor. Poynter was previously an independent non-executive director and was formerly chairman of the audit and compliance committee and a member of the nomination, remuneration…

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Smart Leaders Have Protégés

Just how important protégés are to a powerful person was made clear to me by this question, told to me by a Fortune 100 CEO. When choosing his direct reports, he asks: "How many blazing talents have you developed over the years and put in top positions across the company, so that if I asked you to pull off a deal that involved liaising across seven geographies and five functions, you'd have the bench strength — the people who 'owe you one' — to get it done?" In earlier research, CTI measured the "sponsor effect," the quantifiable boost to pay, promotion, career satisfaction, and retention that sponsorship endows on protégés. It turns out that there's also a "protégé effect" leveraging career traction for leaders. White male leaders with a posse of protégés are 11%  more satisfied with their own rate of advancement than leaders who haven't invested in up-and-comers. Leaders of colour who have developed young talent are overall 24% more satisfied with their career…

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Breaking news

Peru charges Britons of trafficking. Fukushima warning: danger level at nuclear plant jumps to 'serious'. Elmore Leonard dies at 87. Lloyds sell German unit at cut-price. Syria denies Damascus nerve gas attacks. Cameron ‘sanctioned destruction of Guardian computer hard drives. Lehmann: send Broad back in tears. BNY MELLON The investment manager appointed Gesa Benda as global collateral services product segment manager for clearing houses, based in Frankfurt. KKR & CO LP The investment company appointed Joseph Plumeri as a senior adviser. Plumeri was the chairman and chief executive of the Willis Group. KKR said Plumeri is also joining the board of First Data, a KKR portfolio company. ANNALY CAPITAL MANAGEMENT INC The company, which owns, manages, and finances mortgage-backed securities and a portfolio of investment securities, named Glenn Votek its chief financial officer. Votek will also be a member of the company's operating committee. He was previously the company's chief administrative officer. U.S. BANK WEALTH MANAGEMENT The wealth manager appointed Christopher Kurimay as wealth management…

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Breaking news

"I heard a rumour that Cadbury is bringing out an oriental chocolate bar. Could be a Chinese Wispa." "Mubarak will be free within 48 hours. CIA admitds role in 1953 Iranian coup. Pistorious to stand trial in March 2014. PM gets bad back. Tesco fined over strawberry offer. AUSTRALIA AND NEW ZEALAND BANKING GROUP The bank said Andrew Geczy from Lloyds Banking Group PLC would become the chief executive of its international and institutional banking division, a key position as ANZ seeks to bolster growth in Asia and other regions. RBC WEALTH MANAGEMENT The wealth management unit of Royal Bank of Canada appointed Sarah Hunter and Victoria Riding as directors in the London-based credit team. Riding will be director, ultra high net worth, credit solutions. She was previously with BofA Merrill Lynch. Hunter will be director, credit products and services. She was previously with HMV Group PLC. BANK J. SAFRA SARASIN LTD The bank named Jeffrey Benjamin the managing director of client advisory in Singapore.…

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