Most of the top players on the local market registered profits last year, although demand for executive search dropped sharply in the fourth quarter. However, one of the top global companies in the field, with operations in Romania, Stanton Chase, posted some €70,000 worth of losses, according to data available on the Finance Ministry Web site.
“Many of the projects of local subsidiaries of global or regional executive search companies come from foreign clients. Thus, it is difficult to make rankings in the field in terms of revenues, as most international projects are not accounted for locally,” according to one of the top headhunters on the local market, George Butunoiu.
Pedersen&Partners Romania, the company with the broadest expansion in Central and Eastern Europe, posted the top profit on the local market, €125,000. Turnover exceeded €1 million. From data available on the Finance Ministry’s Web site, Alexander Hughes’ local subsidiary posted the second-largest profit, worth €49,000. George Butunoiu Executive Search company had earnings exceeding €44,000.
