Boom year for executive demand - 04/2001

At year-end financial services demand stood at 24 percent, compared with 22 percent at year-end 1999. These are the results of the international Executive Demand Index compiled by Korn/Ferry International (NYSE: KFY), the leading global recruitment company.

According to Dick Buschman, President of Europe, The competition for top performers has been particularly fierce in this sector. In fact demand has increased consistently over the last five years, to reach its current peak. Throughout the year European demand increased in investment banking, private equity, private banking, asset management, wealth management and insurance. Despite all the consolidation in investment banking, demand was buoyant throughout the year on the back of a need for talented bankers.

The second highest sector for executive demand was the advanced technology sector, where demand at year-end 2000 stood at 19 percent, compared with 12 percent at year-end 1999. This sector also saw record increases throughout last year.

Europe saw particularly strong growth in demand across all sectors in the fourth quarter 2000 - an increase of just over 20 percent in overall demand compared with the fourth quarter 1999. Compared with other regions of the world in the fourth quarter 2000, Europe showed the strongest increase in demand - North American demand increased by 16.5 percent, Latin America by 9.2 percent and Asia showed a slight decrease from its recent strong performance, dipping by 2.6 percent. All regions of the world showed increases in executive demand throughout last year, with Europe showing a year-end increase of 12 percent compared with 1999.

The third highest demand at year-end 2000 came from the industrial sector, with 16 percent - a decrease from 18 percent at year-end 1999. Also dipping slightly was the healthcare sector - from nine percent to seven percent over the same period - and the professional services sector from eleven percent to nine percent.