Recruitment consultants Korn Ferry and Hay Group merge
The world's largest executive search firm Korn Ferry is acquiring the Hay Group. For 452 million US dollars, the American executive search specialist, whose European headquarters is domiciled in Zurich, acquires the specialist for personnel services.
"The combination of the two industry leaders brings together more than 100 years of experience in recruiting, promoting and developing top executives," according to a statement on the proposed merger. Most of the purchase price ($252 million) will be paid in cash. Hay Group was previously owned by private investors and will now become part of the publicly traded Korn Ferry Group.
Korn Ferry is represented worldwide by around 80 offices in 37 countries. At its European headquarters in Zurich, the Group employs approximately 60 people who serve national and international clients in the industrial, financial services, life sciences, consumer goods, technology and not-for-profit sectors. The Hay Group currently employs approximately 3,100 people worldwide in 88 offices and 50 countries.
