Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 8-Sep-1999
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Heidrick & Struggles Acquires Sullivan & Company; Creates Leading Financial Services Practice in Industry Business Editors
CHICAGO--(BUSINESS WIRE)--Sept. 8, 1999--Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's leading executive search firm, announced today it has finalized its acquisition of Sullivan & Company, one of North America's top 20 retained executive search firms and a leader in the financial services sector. Under the terms of the agreement, Sullivan & Company will retain its name and identity for an unspecified period of time and will remain at its offices at 40 Wall Street in New York City. Brian Sullivan will immediately become the Global Managing Partner for the Global Financial Services Practice of Heidrick & Struggles.
"Sullivan & Company is dominant in representing investment banks, investment management firms, and specialty financial services firms at the senior levels of executive search," said Patrick S. Pittard, President and CEO of Heidrick & Struggles. "Our Financial Services Practice already enjoys a superb market position. This acquisition will substantially increase our global presence in the financial services sector."
"The leveraging of these two operations worldwide creates a global financial services practice that is unparalleled in the industry," said Brian Sullivan, Founder and President of Sullivan & Company. "The joining of the two firms will give our clients total access to the best executive search resources in the financial services sector. Heidrick & Struggles' powerful infrastructure will give us a truly global reach."
Heidrick & Struggles is the world's leading executive search firm, specializing in chief executive, board of directors and senior level management assignments. Today, over 750 Heidrick & Struggles professionals serve a broad range of organizations including Fortune 500 companies, financial institutions, major health care organizations, universities and not-for-profit organizations, leading mid-cap companies, and emerging growth companies from offices in more than 65 cities throughout North and South America, Europe, the Middle East, Africa and Asia Pacific. For more information about Heidrick & Struggles, please visit our website at http://www.heidrick.com/.
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CONTACT: Heidrick & Struggles International Inc., Chicago
Jennifer Silver (Media), 404/577-0959 or Lynn McHugh (Analysts), 312-496-1593
KEYWORD: ILLINOIS GEORGIA INTERNATIONAL EUROPE LATIN AMERICA
AFRICA/MIDDLE EAST ASIA PACIFIC
INDUSTRY KEYWORD: MERGERS/ACQ