2000
PA Consulting Group completes sale of its search and selection recruitment business to Korn/Ferry International
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31 January 2000
PA Consulting Group, the management, systems and technology consultancy, announced today that it has completed the sale of its global recruitment business to Korn/Ferry International, the world’s largest executive search firm.
PA’s Executive Chairman, Jon Moynihan, commented:
"We are delighted that this deal has been completed successfully. Given the strength of the Korn/Ferry brand, this deal offers tremendous possibilities for our recruitment people. For PA it represents an opportunity for us to focus on the core elements of our business - management, systems and technology consulting."
The transfer covers all of PA’s executive search and selection business worldwide, with the majority of PA staff joining Futurestep, Korn/Ferry’s Internet middle management recruitment business, and the rest joining Korn/Ferry’s executive search business in Europe and Asia/Pacific.
PA’s global assessment and development business will stay within the PA Group and will become a separate venture company in 2000.
For more information, please contact:
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| Dr Adam Adams |
| PA Consulting Group |
| 123 Buckingham Palace Road |
| London |
| SW1W 9SR |
| United Kingdom |
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Tel: +44 20 7312 4602 |
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Fax: +44 20 7312 4639 |
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E-mail:
adam.adams@paconsulting.com |
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Notes to editors
1. Korn/Ferry International is the world’s leading executive search firm and has the broadest global presence in the executive search industry with over 70 offices across 40 countries. For the latest financial year to 30 April 1999, Korn/Ferry reported revenues of US$373 million. Last year, Korn/Ferry performed over 6,700 assignments for more than 4,100 clients, including around 43 per cent of the Fortune 500.
Last year Korn/Ferry launched Futurestep, the first Internet-based electronic search business, to complement its traditional search expertise, targeted at mid-level managers. Combining the power of Internet technology with the skill sets of recruitment professionals, Futurestep currently attracts an average of 25,000 new candidates per month.
2. PA Consulting Group is a leading management, systems and technology consultancy, with a unique commitment to the integration of these capabilities. Established almost 60 years ago, and operating worldwide from over 30 offices in some 20 countries, PA draws on the knowledge and experience of about 2,700 employees, whose skills span the initial generation of ideas and insights all the way through to detailed implementation, including:
- Strategic management, and managing for shareholder value
- Accelerating business growth, especially through innovation and technology
- Improving business design and performance, including customer relationship management, enterprise-wide systems for the supply chain, and full e-business solutions
- Mobilising human resources
- Delivering change effectively, including projects and programmes.
PA focuses on creating benefits for clients rather than merely proposing them, and this focus is supported by an outstanding implementation track record in every major industry and for governments around the world. PA also develops leading-edge technology both for its clients and within its own portfolio of venture companies in areas ranging from software to wireless technology to life sciences.
PA distinguishes itself from its competitors through the range and quality of its people, its development and use of technology, and also its independence. PA’s work in every area from strategic management to project delivery is enhanced by its expertise in all the other areas. PA’s consultants, whatever their special skills, all share:
- A highly commercial approach to clients’ problems and opportunities
- A technologically sophisticated view of both the industry sectors we serve and the solutions we deliver
- A culture of respect, collaboration and flexibility in working with our clients to achieve their aims.
We are proud that our clients say "PA makes it happen".
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