An executive search firm, often called a headhunter, is a professional services firm retained by an organisation to identify, assess and recruit senior leaders, typically chief executives, other C-suite officers and board directors. Unlike contingency recruiters, which are paid only when a candidate is hired, retained search firms are engaged exclusively on an assignment and are usually paid in stages regardless of outcome. The industry body, the Association of Executive Search and Leadership Consultants (AESC), was founded in 1959 and represents firms that recruit and advise organisational leaders.
The largest firms now describe themselves as leadership advisory firms, adding succession planning, board reviews and assessment to search. The two largest by published revenue are Korn Ferry, whose executive search segment earned fee revenue of US$924.1 million in the fiscal year to April 2026, and Heidrick & Struggles, with Executive Search net revenue of US$818.4 million in 2024 before it was taken private in December 2025.
This list ranks twelve executive search firms operating in November 2026 by published scale, reach and specialisation, using the firms' own filings and websites.
Contents
- What is an executive search firm
- History and market
- Key features to compare
- Pricing models
- How to choose
- Methodology
- The list
- Comparison table
- Alternatives by use case
- Recent developments
- Frequently asked questions
- See also
What is an executive search firm
Executive search firms run structured searches for senior roles. A typical retained assignment includes defining the role with the client, mapping and approaching candidates (most of whom are not actively looking), assessing them through interviews and often psychometric tools, presenting a shortlist, supporting negotiation and checking references. Firms commonly offer adjacent services: board effectiveness reviews, CEO succession planning, leadership assessment and interim executives.
The category differs from recruitment agencies and staffing agencies, which fill mid-level and volume roles, usually on contingency, and from recruitment process outsourcing (RPO), where a provider runs a client's hiring function; Korn Ferry offers both search and RPO. Applicant tracking systems and HR software are tools rather than services. Interim management providers place temporary executives, which several firms here also do. The term "headhunter" is used loosely for all of these but most precisely for retained executive search.
History and market
Executive search developed as a distinct profession in the United States after the Second World War, partly from management consulting firms' recruitment work. Spencer Stuart was founded in Chicago in 1956 and opened in Zurich in 1959, the same year the AESC was established; Booz, Allen & Hamilton's search division later joined Spencer Stuart, in 1979. Boyden cites 80 years of operation and Caldwell, Russell Reynolds and DSG each more than five decades.
Two ownership models dominate. Partnership firms, such as Spencer Stuart (employee-owned since 1974) and Egon Zehnder, do not publish accounts; network firms, such as Stanton Chase, operate through independently owned partner offices. Listed firms provide the only audited scale figures: Korn Ferry reported total fee revenue of US$2,907.5 million in FY2026, and Heidrick reported net revenue of US$1,098.6 million in 2024.
The most significant recent change was Heidrick & Struggles' take-private by a consortium led by Advent International and Corvex Private Equity, completed on 10 December 2025 at a valuation of approximately US$1.3 billion. Caldwell has announced the sale of its IQTalent business, and Michael Page has consolidated its brands, including Page Executive, under the Michael Page name.
Key features to compare
Sector and functional expertise
Firms organise consultants by industry and function. Specialists such as DSG's non-profit and healthcare brands suit committee-led searches outside the corporate sector.
Geographic reach
Network firms claim the most countries (Boyden 45+, Stanton Chase 45), while partnerships such as Russell Reynolds concentrate on 47 offices in 25 countries.
Off-limits policy
Firms usually agree not to recruit from current clients. The larger the client list in a sector, the more candidates may be off limits, so ask for the policy in writing.
Assessment methodology
Larger firms combine interviews with psychometric and leadership assessment; Korn Ferry sells assessment as a separate business.
Board capability
For director searches, look for board practices and governance research, such as Spencer Stuart's Board Index or Egon Zehnder's board effectiveness reviews.
Speed and volume
DHR publishes a 94-day average fill time; Stanton Chase reports about 300 CEO and board placements a year; Odgers reports 4,900 searches over three years.
Adjacent services
Interim executives, succession planning and leadership development are offered by Heidrick, Boyden, Page Executive and others.
Pricing models
Executive search firms do not publish price lists, and none of the twelve firms here shows fees on its website. Retained search is generally priced as a fee linked to the hired executive's first-year compensation, paid in instalments (for example at engagement, at shortlist and at placement), plus expenses. Fees and terms are negotiated per assignment and may be fixed rather than percentage-based for large or repeat clients.
Alternatives include contingency search, where fees are paid only on hire (more common in mid-level recruitment), and interim placements billed per day or month. Larger firms also sell assessment, succession and board reviews as separately priced consulting projects. Buyers should compare not only the fee but also the guarantee period if a hire leaves early, the off-limits scope and the seniority of consultants who will actually run the search.
How to choose
CEO and board searches at large listed companies: Korn Ferry, Heidrick & Struggles, Spencer Stuart, Russell Reynolds Associates and Egon Zehnder dominate this segment and publish board and succession research.
Mid-market and private-equity portfolio companies: DHR Global, Stanton Chase and Boyden offer broad coverage and shorter processes.
UK-centred searches: Odgers.
Canada: Caldwell.
Non-profit, healthcare and education: DSG's specialist brands.
Senior roles linked to a wider recruitment relationship: Page Executive.
Emerging markets: network firms with offices in many countries, such as Boyden and Stanton Chase.
Methodology
Firms were included if they operate retained executive search under their own brand in November 2026 and maintain an official website describing their services. They were ordered by (1) published scale: audited executive search revenue where available (Korn Ferry FY2026, fiscal year ended 30 April 2026; Heidrick & Struggles FY2024, its last full year as a listed company), then consultant and office counts stated by the firm; (2) international reach; and (3) depth of board and senior-level practice. Private partnerships that do not publish revenue are ranked after the two firms with audited figures and ordered by stated consultant and office counts and senior-level focus. Specialist and regional firms follow. No fee data, reviews or rankings by third parties were used to order the list; Boyden's Forbes ranking is reported as the firm states it.
The list
1
Largest listed executive search and organisational consulting firm by published revenue
Best for: Large organisations wanting search combined with assessment, consulting and RPO
Korn Ferry is a publicly listed organisational consulting firm whose executive search business is the largest in this list by published revenue. For the fiscal year ended 30 April 2026, the company reported fee revenue of US$2,907.5 million, up 7% year on year (5% at constant currency), and total revenue of US$2,938.6 million including reimbursed expenses. Its Executive Search segment generated fee revenue of US$924.1 million, and the firm ended the year with 566 executive search consultants, averaging 563 over the year.
Executive search is one of five reporting segments. In FY2026 Consulting earned fee revenue of US$691.7 million, Digital US$363.5 million, Professional Search & Interim US$561.1 million and RPO US$367.1 million; within Executive Search, North America contributed US$583.4 million, EMEA US$215.1 million, Asia-Pacific US$97.5 million and Latin America US$28.0 million. That breadth lets the firm pair a senior search with consulting and interim work, and its quarterly results make its scale verifiable.
For clients, the disadvantage of scale is the risk of off-limits conflicts: a large firm that serves many companies in a sector may be barred from approaching executives at its existing clients. Fees are negotiated per assignment and not published.
Key features
- Executive search across four regions
- Consulting segment
- Digital talent products
- Professional search and interim
- Recruitment process outsourcing
Pricing
Retained search fees are agreed per assignment and are not published.
Recent results
FY26 (to 30 April 2026): fee revenue US$2,907.5m; Executive Search fee revenue US$924.1m; 566 search consultants at year end.
- Fee revenue (FY2026)
- US$2,907.5m
- Executive Search fee revenue (FY2026)
- US$924.1m
- Search consultants
- 566 (30 April 2026)
- Ownership
- Publicly listed
Strengths
- Largest published executive search revenue
- Search integrated with assessment and consulting
- Audited quarterly disclosure
- Global consultant bench
Limitations
- Off-limits constraints from a large client base
- Search is a minority of group revenue
- Fees not published
- Large-firm process may be heavy for smaller searches
2
HS
Chicago-based leadership advisory firm taken private by Advent and Corvex in 2025
Best for: Boards and CEOs seeking senior search with leadership consulting and on-demand talent
Heidrick & Struggles is a leadership advisory and executive search firm with more than 70 years of history. In its last full year as a listed company, 2024, it reported net revenue of US$1,098.6 million, up 7%, of which Executive Search contributed US$818.4 million; it had 418 executive search consultants at the end of 2024.
On 10 December 2025 the company completed a take-private transaction led by Advent International and Corvex Private Equity, with strategic investors including Salem Capital Management, Mousse Partners, TF Cornerstone, HighSage Ventures and Barcliff Partners; the transaction valued the firm at approximately US$1.3 billion, its shares ceased trading on Nasdaq, and certain Heidrick leaders and partners co-invested. The release, datelined Chicago, describes the firm as a provider of global leadership advisory and on-demand talent solutions.
Besides executive search, Heidrick sells leadership consulting (team and culture work, succession planning) and an on-demand talent business supplying interim executives and project consultants. Since the take-private, it no longer files quarterly results, so recent revenue is not publicly verifiable.
Key features
- CEO and board search
- Leadership consulting and succession
- On-demand interim talent
- Culture and team effectiveness work
- Global industry practices
Pricing
Retained search fees are agreed per assignment and are not published.
Ownership and history
Taken private on 10 December 2025 by a consortium led by Advent International and Corvex Private Equity, valued at about US$1.3 billion; delisted from Nasdaq.
Recent results
2024: net revenue US$1,098.6m; Executive Search net revenue US$818.4m; 418 consultants at year end.
- Net revenue (FY2024)
- US$1,098.6m
- Executive Search net revenue (FY2024)
- US$818.4m
- Search consultants
- 418 (end 2024)
- Ownership
- Advent International and Corvex-led consortium (since December 2025)
Strengths
- Second-largest published search revenue
- Interim talent and consulting alongside search
- Long track record
- Partner co-investment aligns incentives
Limitations
- No longer publishes results
- Private-equity ownership may change strategy
- Off-limits constraints
- Fees not published
3
Privately held firm founded in 1956 and known for board search and the Board Index
Best for: Board director and CEO searches at listed companies
Spencer Stuart was founded in Chicago in 1956 by Spencer "Spence" Stuart, who opened a Zurich office in 1959. When he retired in 1974, he made his entire shareholding available to a group of employees, which the firm credits with the partnership culture that continues today. The executive search division of Booz, Allen & Hamilton joined in 1979, expanding US operations.
The firm's reputation rests heavily on board work. It describes itself as the first search firm to establish a dedicated Boards Practice, in 1983, and it has published the US Spencer Stuart Board Index, a widely used annual survey of S&P 500 board composition, since 1987; it also says it introduced the industry's first client satisfaction survey in 1994. Today it operates more than 60 offices in over 30 countries and cites 70 years of leadership consulting experience.
Spencer Stuart does not publish current revenue; its history page notes revenue of about US$362 million in the late 1990s. As a private partnership, its scale cannot be compared directly with listed rivals, and its fees are negotiated per engagement.
Key features
- Board director search
- CEO and C-suite search
- Client satisfaction survey (since 1994)
- US Spencer Stuart Board Index
- Leadership consulting
- Industry and functional practices
Pricing
Retained search fees are agreed per assignment and are not published.
Ownership and history
Founded 1956 in Chicago; employee-owned since founder transferred shares in 1974; Booz Allen's search division joined in 1979.
- Founded
- 1956, Chicago
- Offices
- 60+ in 30+ countries
- Ownership
- Employee-owned partnership
- Revenue
- Not published (about US$362m in the late 1990s)
Strengths
- Pioneer of board search
- Influential Board Index research
- Partnership ownership since 1974
- Broad international network
Limitations
- No current published revenue
- Fewer countries than network-based firms
- Focus on senior roles limits mid-level searches
- Fees not published
4
RR
Leadership advisory and search firm with 500+ advisors in 47 offices
Best for: Senior searches and succession work for multinational companies
Russell Reynolds Associates is a privately held leadership advisory and executive search firm with more than 50 years of experience. It states that its team of more than 500 leadership advisors works across 25 countries and 47 offices, and reports a 96% client satisfaction score.
Its services span board, CEO and executive search; board, CEO and C-suite succession; assessment and benchmarking, executive development and team performance; board composition and effectiveness; and transformation work on AI, culture and sustainability. Its executive search page states that searches can be completed in as little as 14 weeks.
The firm does not publish revenue or ownership details on its website, so its size relative to listed peers rests on its stated advisor and office counts. With 47 offices, its footprint is concentrated in major financial and business centres rather than spread across smaller markets, where network firms such as Boyden or Stanton Chase claim more countries.
Key features
- Board, CEO and executive search
- Board, CEO and C-suite succession
- Assessment and benchmarking
- Board composition and effectiveness
- Executive mentoring
- Transformation advisory
Pricing
Retained search fees are agreed per assignment and are not published.
- Leadership advisors
- 500+
- Offices
- 47 in 25 countries
- Experience
- 50+ years
- Revenue
- Not published
Strengths
- Strong senior-level and succession focus
- Large advisor team
- Research-led approach
- Published client satisfaction measure
Limitations
- No published revenue
- Fewer countries than network firms
- Senior focus limits mid-level work
- Fees not published
5
EZ
One-firm partnership with 600+ consultants in 71 offices across 37 countries
Best for: Clients wanting consultants who work across offices on a shared-incentive model
Egon Zehnder is a privately held leadership advisory and executive search firm. Its website states that it has more than 600 consultants in 71 offices across 37 countries. The firm describes working as "One Firm" across industries and regions with incentives shared across the firm, a model intended to encourage consultants to involve colleagues from other offices rather than compete for fees.
Alongside executive search, the firm highlights board advisory work and leadership research: it cites more than 1,000 board effectiveness reviews and publishes leadership research, including a global CEO study of 1,235 chief executives and surveys of chief financial officers.
Egon Zehnder does not disclose revenue or ownership details on its website, which prevents direct comparison with listed firms. Like other generalist firms, its large client base can create off-limits restrictions in concentrated industries.
Key features
- Executive and board search
- Board effectiveness reviews (1,000+)
- Global CEO study (1,235 CEOs)
- CFO surveys
- One-firm shared incentives
Pricing
Retained search fees are agreed per assignment and are not published.
- Consultants
- 600+
- Offices
- 71 in 37 countries
- Ownership
- Private partnership
- Revenue
- Not published
Strengths
- Shared-incentive one-firm model
- Large consultant base
- Extensive board advisory work
- Strong research output
Limitations
- No published revenue
- Off-limits constraints in concentrated sectors
- Senior-level focus
- Fees not published
6
UK-headquartered search firm with 200 partners in 27 offices across 33 countries
Best for: UK, European and public-sector senior appointments
Odgers describes itself as the UK's largest executive search firm. Its website cites 27 offices across 33 countries, around 200 partners worldwide and 4,900 searches completed globally over the previous three years; country sites cover eight markets in the Americas, five in Asia-Pacific, 18 in Europe and two in the Middle East and Africa.
The firm handles board, CEO and senior executive searches. Odgers is a member of the Association of Executive Search and Leadership Consultants (AESC), the industry body founded in 1959.
Odgers does not publish revenue or ownership details on its home page. Its footprint is heavily European, so clients hiring primarily in Asia or Latin America may find fewer local partners than at global generalists.
Key features
- Board and CEO search
- Senior executive search
- 27 offices in 33 countries
- AESC membership
Pricing
Retained search fees are agreed per assignment and are not published.
- Offices
- 27 in 33 countries
- Partners
- About 200
- Searches
- 4,900 in three years (company figure)
- Revenue
- Not published
Strengths
- Large UK presence
- Published search volume
- AESC member
- About 200 partners
Limitations
- Europe-heavy footprint
- No published revenue
- Ambiguous client satisfaction metric on site
- Fees not published
7
80-year-old network firm with 75+ offices in 45+ countries
Best for: Mid-market and multinational searches in many countries, including emerging markets
Boyden is an executive search and leadership consulting firm that cites 80 years of operation and more than 75 offices in more than 45 countries. Its website states that it was ranked seventh on Forbes' 2026 list of America's Best Executive Recruiting Firms, its highest position to date.
Boyden offers executive search; interim management; leadership consulting covering onboarding, assessment, development, coaching and succession planning; and CEO and board services including director search, with specialist offerings for family-owned firms and private equity. Its large office count relative to consultant-heavy generalists reflects a network of offices across many smaller markets, which suits clients needing searches in countries where the largest firms have no local presence.
Boyden does not publish revenue or consultant numbers on its home page, and a broad network can mean variation in practice depth between offices. Clients should check the experience of the specific team assigned.
Key features
- Executive search
- Interim management
- Leadership assessment
- Board services
- Coverage of 45+ countries
Pricing
Retained search fees are agreed per assignment and are not published.
- Offices
- 75+ in 45+ countries
- Experience
- 80 years
- Recognition
- No. 7, Forbes America's Best Executive Recruiting Firms 2026 (per Boyden)
- Revenue
- Not published
Strengths
- Wide country coverage
- Interim management option
- Long history
- Presence in smaller markets
Limitations
- No published revenue or consultant count
- Depth varies by office
- Less board research than leading generalists
- Fees not published
8
Partner-owned network founded in 1990, with 350 consultants in 45 countries
Best for: Mid-market companies needing cross-border searches through local partners
Stanton Chase is an executive search and leadership consulting firm founded in 1990. It describes itself as "partner-owned and partner-led" and operates through independently owned partner firms in its locations. The firm cites 70 offices (its structured data lists 76 locations) in 45 countries, 350 consultants and about 300 CEO and board member placements a year.
Services include executive search, board search, executive assessment and development, succession planning and executive onboarding. The partner-owned network model gives each office local ownership and market knowledge, while a shared brand and processes allow cross-border searches.
As with other network firms, quality and practice depth can vary by office, and the firm does not publish revenue. Its placement volume indicates a stronger mid-market orientation than the board-focused generalists at the top of this list.
Key features
- Executive search
- Board search
- Executive assessment and development
- Succession planning
- Executive onboarding
Pricing
Retained search fees are agreed per assignment and are not published.
- Founded
- 1990
- Offices
- 70 in 45 countries
- Consultants
- 350
- CEO and board placements
- About 300 a year (company figure)
- Ownership
- Partner-owned
Strengths
- Local ownership in each market
- Broad country coverage
- Published consultant and placement figures
- Mid-market accessibility
Limitations
- Office count differs between its own pages
- Quality varies by partner firm
- No published revenue
- Fees not published
9
Senior search arm of Michael Page with 350+ principals and partners in 34 countries
Best for: Senior and interim appointments for clients already using Michael Page
Page Executive is the senior leadership search business of Michael Page; its website states that it is "part of Michael Page" and that the group's brands are now united under the Michael Page name. It cites operations in 34 countries, ten global practices and more than 350 principals, partners and research associates, and reports more than 2,170 placements ("lives changed") in 2025.
Services include leadership search, executive interim, assessment, advisory, compensation advice and board search. Being part of a large recruitment group gives Page Executive access to the wider group's candidate network and offices, which suits searches just below the C-suite as well as senior roles.
Page Executive does not publish separate revenue, and its positioning within a volume recruitment group differs from the partnership model of retained boutiques. Clients seeking board-level research and governance advice may find more depth at specialist board firms.
Key features
- Leadership search
- Executive interim
- Board search
- Assessment and advisory
- Compensation advice
- Ten global practices
Pricing
Retained search fees are agreed per assignment and are not published.
- Parent
- Michael Page
- Countries
- 34
- Search team
- 350+ principals, partners and research associates
- Placements (2025)
- 2,170+ (company figure)
Strengths
- Access to a large recruitment group's network
- Interim and permanent search
- Published placement volume
- Broad practice coverage
Limitations
- No separate revenue disclosure
- Less board research than specialist firms
- Brand consolidation under Michael Page may blur positioning
- Fees not published
10
Executive search and talent advisory firm serving 60+ markets
Best for: Mid-market and private-equity-backed companies seeking quick senior hires
DHR Global is an executive search and talent advisory firm that states it serves more than 60 markets with more than 160 global partners. It reports that 83% of its business is repeat business and that its average time to fill a search is 94 days. Its website notes that Inc. named DHR to its Best Workplaces list and describes it as the only top-50 executive search and talent advisory firm to receive that recognition.
The firm organises consultants across Asia-Pacific, Europe, Latin America, the Middle East and Africa, and North America, and offers executive search alongside leadership consulting. The footer links to Jobplex and Hoffmann, suggesting affiliated businesses, although the relationship is not described on the page.
DHR does not publish revenue, founding year or headquarters on its home page. Its published fill time is a useful benchmark for buyers, but it is a company-reported average.
Key features
- Executive search
- Leadership consulting
- 160+ global partners
- Coverage of 60+ markets
- Published average fill time
Pricing
Retained search fees are agreed per assignment and are not published.
- Markets
- 60+
- Partners
- 160+
- Repeat business
- 83% (company figure)
- Average fill time
- 94 days (company figure)
Strengths
- Published fill-time metric
- High stated repeat business
- Global coverage
- Mid-market focus
Limitations
- No published revenue or headquarters
- Affiliate structure not explained
- Fill time is self-reported
- Fees not published
11
North American search firm with 22 offices and more than 50 years of history
Best for: North American executive searches, especially in Canada and the US
Caldwell is an executive search firm that cites more than 50 years of history and lists 22 offices: three in Canada (Calgary, Toronto and Vancouver), 14 in the United States, London and Madrid in Europe, Auckland and Sydney (operating as Johnson Partners) in Asia-Pacific, and Dubai. The firm publishes investor-relations material and a SEDAR link, consistent with a Canadian-listed company.
Caldwell historically paired executive search with IQTalent, a professional-level search and recruiting business; its home page carries a news item titled "Caldwell Announces Sale of IQTalent", indicating a return to a search-only focus, though buyer and terms are not given on the page.
Caldwell's footprint is concentrated in North America, making it a natural candidate for Canadian and US searches but less suited to clients needing deep coverage in Asia, Latin America or continental Europe. Revenue is not stated on the home page.
Key features
- Executive and board search
- 22 offices across five regions
- Johnson Partners in Australia and New Zealand
- Investor disclosure via SEDAR
Pricing
Retained search fees are agreed per assignment and are not published.
- Offices
- 22
- Experience
- 50+ years
- Recent change
- Sale of IQTalent announced
Strengths
- Strong Canadian presence
- Publicly reporting company
- Focused search offering
- Presence in Australia and New Zealand
Limitations
- Smaller international footprint
- Revenue not shown on home page
- Sale details of IQTalent not on page
- Fees not published
12
US search group spanning non-profit, healthcare and education specialist brands
Best for: Non-profit, healthcare and education leadership searches
DSG, formerly branded Diversified Search Group, is a US executive search firm that cites five decades of operation. It operates through specialist brands: Koya Partners, now under the DSG umbrella, for non-profit and social-impact leadership; Grant Cooper for healthcare, which cites more than 60 years of experience; and an education search brand. The footer also links to Alto Partners, an international search alliance, though the relationship is not described.
The group's specialisation suits clients outside the corporate C-suite, such as foundations, hospitals and universities, where search committees and governance processes differ from those at listed companies. The firm's book, Deliberately Different, marks its fifty-year history.
DSG does not publish revenue, office counts or headquarters on its home page, and its international reach depends on alliance partners rather than its own offices.
Key features
- Non-profit and social-impact search (Koya Partners)
- Healthcare search (Grant Cooper)
- Education leadership search
- Corporate executive search
- International alliance links
Pricing
Retained search fees are agreed per assignment and are not published.
- Experience
- Five decades
- Brands
- Koya Partners, Grant Cooper, education brand
- Revenue
- Not published
Strengths
- Deep non-profit and healthcare specialisation
- Multiple specialist brands
- Experience with committee-led searches
- Long history
Limitations
- Limited international footprint
- No published revenue or office count
- Alliance relationship not explained
- Fees not published
Frequently asked questions
What is the difference between executive search and recruitment?
Executive search firms are retained exclusively to fill senior roles and are paid in stages whether or not the client hires, while most recruitment agencies work on contingency and are paid only on placement. Search firms also approach passive candidates directly and assess them in depth, which suits CEO, C-suite and board positions.
How much do executive search firms charge?
None of the firms in this list publishes fees. Retained search is usually priced as a fee linked to the executive's first-year compensation, paid in instalments plus expenses, and negotiated per assignment. Large or repeat clients may agree fixed fees. Buyers should also compare guarantee periods and off-limits terms.
Which is the largest executive search firm?
By published revenue, Korn Ferry is the largest: its Executive Search segment reported fee revenue of US$924.1 million in the fiscal year to 30 April 2026. Heidrick & Struggles reported Executive Search net revenue of US$818.4 million in 2024 before going private. Spencer Stuart, Russell Reynolds and Egon Zehnder do not publish revenue.
How long does an executive search take?
Timelines vary with seniority, sector and geography. DHR Global reports an average time to fill of 94 days. Board and CEO searches can take longer because of committee processes, notice periods and regulatory approvals in sectors such as banking.
What does off-limits mean in executive search?
Off-limits is a firm's commitment not to recruit executives away from its current clients, usually for a set period. Large firms with many clients in one industry may therefore be unable to approach some of the most relevant candidates, so buyers should ask for the off-limits policy before signing.
What are the big executive search firms?
The firms most often grouped as the largest generalists are Korn Ferry, Heidrick & Struggles, Spencer Stuart, Russell Reynolds Associates and Egon Zehnder. Only Korn Ferry publishes current audited results; Heidrick did until it was taken private in December 2025. The others are private partnerships.
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