Egon Zehnder International
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| Egon Zehnder International | |
|---|---|
| Type | Partnership |
| Founded | 1964 |
| Headquarters | 62 offices in 37 countries |
| Key people | John J. Grumbar, Chairman; Damien O'Brien, CEO |
| Industry | Management consulting |
| Products | Global Executive Search |
| Revenue | 2007: not disclosed |
| Employees | about 360 consultants |
| Website | www.egonzehnder.com |
Egon Zehnder International is a leading global executive search firm. It was founded in 1964 by Egon Zehnder.
[edit] History
Egon Zehnder founded his firm in 1964. He decided to do so as he realised that the only way to overcome the resistance encountered by executive search in Europe was to adopt an entirely professional approach marked by absolute discretion. The corporate goal was not to be high-speed headhunting, but a professional, systematic search for the best candidate for the needs of each individual client.
In the first four years of its existence, Egon Zehnder International operated out of the Zurich office, which was staffed by a handful of consultants. Profits were plowed back into the firm to enable new consultants to be recruited. Gradually, the firm’s consulting activities expanded throughout Europe, resulting in the founding of eight European offices by the late 70s.
Over the years, the firm’s demand-led expansion became a reliable mirror of market developments around the world. The opening of Egon Zehnder International’s Tokyo office in 1971, the first outside Europe, reflected the opening of the Japanese market to the West. The inauguration of new offices in São Paulo (1975), Mexico City (1982) and Buenos Aires (1984) paralleled the advent of market economics in a large number of South American countries, a pattern repeated in the early 1990s as new offices were opened in the capital cities of former Eastern Bloc states, including Budapest and Prague in 1992. In 1978, Egon Zehnder decided to transform the firm in which he was then majority shareholder, Chairman and CEO, into an international partnership.
With the onset of globalization, executive search took on worldwide scope. The clearest sign of this development at Egon Zehnder International was the decision at the end of the 1980s to take the firm’s presence in the USA into a new dimension, transforming Egon Zehnder International from minor supplier to key player. Following the opening of the New York office in 1977, the firm strengthened its U.S. presence with the inauguration of eight other offices between 1981 and 2000. Since the late 90s, Egon Zehnder International has ranked alongside its U.S. competitors as a key player in terms of worldwide revenues. Now established as the leading force in executive search in Europe, the firm continued to expand globally, reaching 56 offices in 36 countries by the end of 2000.
In the late 80s, Egon Zehnder International became the first executive search firm to undertake Management Appraisals. In 1992, the first large-scale Management Appraisal was conducted for the telecom industry in Argentina. Against the backdrop of rapidly increasing demand, the Management Appraisal practice group, since renamed the Talent Management/Management Appraisal practice, was rapidly set up to leverage the firm’s expertise in this field. Similarly, in 1995 the firm responded to its clients’ growing needs for board services with the acquisition of PRO NED, an organization originally set up by the Bank of England to promote the appointment of professional directors. This proved a decisive step in the development of the firm’s Board Consulting practice. In the late 1980s, a number of informal sector practice groups began serving as exchange platforms for industry-specific knowledge. In 1996, a more formalized structure was introduced, resulting in the creation of the Financial Services, Technology & Telecoms, Life Sciences and Consumer practice groups by early 1998. In the course of the next few years, the Industrial, Services and Private Capital practice groups were created in response to the specific needs of clients in these areas.
Long before he considered his own personal retirement from day-to-day business, Egon Zehnder was driven by the desire to transform the firm he had founded into an institution marked by dynamic growth and continuous development. In 1992, Zehnder chose A. Daniel Meiland to succeed him as CEO. In 2000, Zehnder also stepped down as Chairman and, in line with the democratic decision of the partners, Meiland succeeded him in this position, as well. In 2002, Meiland handed over as CEO to John J. Grumbar who, at this point, had been with the firm for 20 years.
With the inauguration of six new offices since 2000, Egon Zehnder International has continued to expand. Today, the firm maintains a presence in 37 countries with 62 offices and some 360 consultants.
[edit] Milestones
1964: Egon Zehnder opens first office in Zurich
1968: Opening of the Paris and Brussels offices
1970: Opening of the Copenhagen and London offices
1971: Opening of the Tokyo office, the first outside Europe
1975: Opening of the first Latin American office in São Paulo
1977: Opening of the first US office in New York
1978: Founder Egon Zehnder turns the firm into an international partnership
1981: Opening of the second US office in Chicago
1994: Launch of the Management Appraisal practice
1994: Acquisition of PRO NED, launch of the Board Consulting practice
1996: Formalization of sector practice groups
2000: Founder Egon Zehnder retires, A. Daniel Meiland takes over as Chairman and CEO
2000: Opening of the Miami office as the ninth in the USA
2002: John J. Grumbar becomes CEO
2003: Opening of the Seoul office
2005: Opening of the Dubai office
2006: A. Daniel Meiland retires, John J. Grumbar takes over as Chairman and CEO
2008: Damien O'Brien becomes CEO
