Executive search firm HB International, backed by private equity group Hamilton Bradshaw, has reported a doubling of profits for 2009.

Chief executive Stephen Heal says: “2009 was a challenging year for most of our competitors,  however, we have gone from strength to strength and bucked the economic trends with the recent hires of a transactional banking team and two new consultants to our leading private wealth management unit. 

“These have had a direct correlation to the doubling of profits and producing revenues in excess of £3m. The future is looking equally promising, we will be aggressively expanding across all sectors and are looking to open up offices within Asia and the Middle East.”

Tristan Ramus, non-executive director, adds: “Having prospered in such a challenging economic climate, we are ideally placed to build upon that success in the future. With the recent appointment of experienced headhunter and manager, Shane Bartholomew, as sales director, we are looking to attract new talent and expand into growth areas.”

James Caan, serial entrepreneur and chairman, says: “We are now keen to leverage from this platform and to use the profits to purchase other organisations and leading teams across the financial services sector.”