Performance was boosted by the performance of its executive search division, where net revenue rose 17.1% to $145.8m (£104.5m), more than offsetting a decline of 8.3% in recently launched Heidrick Consulting, a merger of its leadership and culture shaping businesses that took place at the beginning of January.

Commenting on the results, Krishnan Rajagopalan, Heidrick & Struggles’ president and CEO, said: “All three regions achieved strong, double-digit net revenue growth and contributed to the year-over-year increase in executive search. 

“With the formal launch of Heidrick Consulting in the first quarter, we are now turning our focus to scaling the business to enhance our impact with clients by expanding our consultant expertise, service offerings, and scalable tools and methodologies. We delivered significant improvements in operating income, operating margin and earnings per share in the first quarter, and will remain vigilant in making strategic investments and managing costs.”

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