International executive search recruiter Korn Ferry has held talks with City headhunter Whitehead Mann over purchasing a majority stake in the company.

Piers Marmion, chief executive of Whitehead Mann, told informed senior partners within Whitehead Mann of the talks’ progress, according to the Financial Times.

Amid rampant industry rumours Whitehead Mann released a statement on its financial stability last week.

In the statement Marmion said he remained “highly confident about the future”.

“We are very well positioned to cope with the current downturn and to emerge stronger as economies and markets eventually recover.

“Despite the very difficult current market conditions, our 2009 Q1 revenue figures are on a par with last year’s revenues. Winning and delivering searches is still more difficult than at any other time in memory and fees remain under considerable pressure.”