New global executive searches increased by 10% from quarter 4 2006 to quarter 1 2007, according to the latest quarterly Association of Executive Search Consultants (AESC) State of the Executive Search Industry report.

The research found that the executive search industry remains robust with an 11% quarterly increase in global revenues, and a yearly increase of 25.8%.

Peter Felix (pictured), AESC president, says: “Retained executive search is a significant barometer of the strength of the global economy, and it is reassuring to know that industry revenues and search activity continue to grow.

“Judging from the volume of activity in senior executive recruitment, we anticipate another excellent year in retained search.”

The research revealed yearly comparisons revealed a 14.1% rise in European executive searches. The UK accounted for the greatest number of European searches with 29% of the total market share in Q1 2007. Germany followed with 14% and France came in third with 10% of market share. The annual review of European searches showed a 3% drop in UK searches, no change for Germany, and France experiencing a minor increase (+1%).

Searches started in Q1 2007 rose 10% against the previous quarter, with all industries experiencing a quarterly increase. Up 33.2%, Not-For-Profit accounted for the greatest increase in searches, followed by Professional Services (+30.4%), Financial (+20.3%), Technology (+19%), Industrial (+15%), Consumer (+12%), and Life Sciences/Healthcare (+10.3%).

The Financial sector captured the largest share in number of searches in Q1 ‘07, with 24% of the market. The Industrial sector followed with 22%, followed by Consumer Products (17.4%), Technology (15.6%), Life Sciences/Healthcare (12%), Non-Profit (4%), and Professional Services (4%).