Financial Data and Key Metrics Changes - Consolidated fee revenue grew 7% year-over-year to $722 million [11] - Adjusted EBITDA increased by $8 million, or 7% year-over-year, to $125 million, with an adjusted EBITDA margin of 17.3% [11] - Adjusted diluted earnings per share rose by $0.12, or 10% year-over-year, to $1.33 [11] Business Line Data and Key Metrics Changes - Executive search fee revenue grew 10%, marking the sixth consecutive quarter of year-over-year growth [11] - Professional search and interim fee revenue increased by 17% year-over-year, with professional search up 7% and interim, including the Trilogy acquisition, up 24% [11] - RPO delivered $253 million of new business in the quarter, with 16% from new logos and 84% from renewals [11] Market Data and Key Metrics Changes - Fee revenue in the Americas was up 3% year-over-year, led by executive search and RPO [12] - EMEA fee revenue grew 20% year-over-year, with growth in executive search, professional search, interim, consulting, and digital [12] - APAC fee revenue remained flat, with moderate growth in executive search and professional search, offset by slight declines in RPO, consulting, and digital [12] Company Strategy and Development Direction - The company is focusing on a unified "We Are Korn Ferry" strategy, integrating multiple solutions to create enduring client partnerships [4][6] - The launch of the new Talent Suite technology platform is expected to enhance the company's ability to serve clients as a holistic talent partner [9] - The company aims to drive long-term, profitable, and sustainable growth by leveraging foundational assets to deliver differentiated solutions [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for a strong 2026, emphasizing the need for talent in the current uncertain business environment [8][14] - The outlook for the third quarter of fiscal 2026 anticipates fee revenue between $680 million and $694 million, with adjusted EBITDA margins ranging from 17.2% to 17.4% [13] - Management noted that the current economic conditions have not significantly changed, and they remain focused on identified growth opportunities [24] Other Important Information - Estimated remaining fees under existing contracts increased to $1.84 billion, up 20% year-over-year [11] - The company returned almost $70 million to shareholders through repurchases and dividends during the quarter [12] - The Talent Suite launch is expected to provide significant opportunities in areas such as pay transparency and analytics [47] Q&A Session Summary Question: Strength in executive search business - Management noted significant growth in executive search worldwide, driven by changing leadership needs and the retirement of baby boomers [16] Question: Historical referral rates and future expectations - Management indicated a historical referral rate of 25%-26%, with a goal to increase it to 35% as the strategy evolves [18] Question: Improvement in placement-type solutions - Management confirmed that the strategy is working, with sequential growth in Professional Search and Interim Solutions, and noted the quality of their IP and AI usage in RPO [24] Question: Consulting bill rates and margin dynamics - Management highlighted that bill rates have increased due to larger, more impactful engagements, and there remains substantial opportunity for further growth [27][33] Question: Impact of AI on search efficiency - Management stated that while technology has improved efficiency, the larger impact comes from changes in work processes post-COVID [38] Question: Financial impact of Talent Suite - Management expects the Talent Suite to significantly enhance client engagement and analytics capabilities, leading to increased monetization of IP [46][47] Question: Changes in behavior since competitor went private - Management reported no noticeable changes in market behavior following the competitor's transition to private [51]

Core Insights - Caldwell, an executive search firm, has appointed Ben Sturnham as a Partner in its Financial Services and Real Estate practices [1] Company Overview - Caldwell operates in the executive search sector, focusing on recruitment for board and C-suite positions [1] - The firm is publicly traded on the TSX under the ticker CWL and on the OTCQX under CWLPF [1] Industry Focus - The addition of Sturnham enhances Caldwell's capabilities in advising clients within the real estate, financial services, and real estate finance sectors [1] - The firm's operations extend across the UK, Europe, and the Middle East, indicating a broad geographical reach in its service offerings [1]

Core Viewpoint - Caldwell has launched a new global sector group, the Sports & Entertainment Practice, aimed at connecting leaders with organizations in the sports, technology, media entertainment, and investment sectors [1] Company Developments - The formation of the Sports & Entertainment Practice is a response to the increasing investments from Caldwell's private equity, venture capital, and family office clients in the sports, media, and entertainment industries [1] - This expansion reflects Caldwell's commitment to enhancing its capabilities to meet the growing demand for leadership talent in a rapidly evolving ecosystem [1]

Core Insights - Heidrick & Struggles reported strong financial results for Q3 2025, exceeding the high end of their outlook, with all lines of business contributing to revenue growth [2][3][7] Financial Performance - Consolidated net revenue for Q3 2025 was $322.8 million, a 15.9% increase year-over-year from $278.6 million in Q3 2024 [5][7][20] - Adjusted EBITDA rose to $34.2 million, reflecting a 12.6% increase from $30.4 million in the previous year, with an adjusted EBITDA margin of 10.6% [5][8][22] - Net income for Q3 2025 was $17.6 million, up from $14.8 million in Q3 2024, resulting in diluted earnings per share of $0.83 compared to $0.71 [5][8][20] Business Segments - Executive Search segment net revenue increased by 17.0% to $239.1 million, driven by growth in the Americas (20.8%) and Europe (18.0%), while Asia Pacific saw a decline of 3.9% [9][22] - On-Demand Talent segment net revenue grew by 10.1% to $50.9 million [10][22] - Heidrick Consulting segment net revenue increased by 17.6% to $32.8 million [11][22] Dividend Declaration - The Board of Directors declared a cash dividend of $0.15 per share for Q3 2025, payable on November 26, 2025 [4][5] Take Private Transaction - Heidrick & Struggles announced a definitive agreement to become a private company at $59.00 per share, led by Advent International and Corvex Private Equity [3][4]

Core Insights - Ginger Finds has appointed Grégoire Martin as the new president to enhance its relationship-driven business model in the luxury industry [1] - The luxury industry is undergoing significant changes, with a notable shift in leadership and creative direction at top fashion companies [2][3] Company Developments - Ginger Puglia, CEO and cofounder of Ginger Finds, emphasizes the need for fresh perspectives in the evolving luxury market [1][4] - Martin's background includes experience at LVMH and Spencer Stuart, which positions him well to contribute to the firm's growth [6] Industry Trends - The luxury sector is experiencing rapid transformations, with new creative leaders emerging and making swift changes [2][3] - Companies are increasingly seeking leaders who bring diverse experiences and analytical thinking, moving away from traditional career paths [4] Leadership Philosophy - Martin highlights the importance of empathy and understanding client experiences as critical attributes for future leaders in the industry [7] - The focus will shift towards enhancing client and product experiences, necessitating leaders who are authentic and customer-centric [7]

Core Viewpoint - Heidrick is under investigation for potential breaches of fiduciary duty and other legal violations related to its transaction with Advent and Corvex, which involves a significant cash payout to shareholders [1][2]. Group 1: Transaction Details - Heidrick's shareholders are set to receive $59.00 per share in an all-cash transaction, which is valued at approximately $1.3 billion [2]. - The transaction agreement includes provisions that impose a significant penalty on Heidrick if it accepts a competing bid, potentially limiting other offers [3]. Group 2: Board Conduct - The investigation focuses on the conduct of Heidrick's board of directors to determine if they are fulfilling their fiduciary duties to all shareholders amidst the transaction [3].

Core Insights - The launch of Index Search aims to assist manufacturing and supply chain companies in filling executive and professional roles more efficiently and effectively [1] Group 1 - Index Search is designed to help companies in the manufacturing and supply chain sectors to expedite the hiring process for key positions [1] - The tool focuses on providing smarter solutions that lead to lasting impacts on organizational performance [1]

Core Insights - Caldwell has expanded its Technology Practice by adding Jake Parish as a partner in its London office, enhancing its capabilities in the technology sector [1][2]. Company Update - Jake Parish brings over a decade of experience in executive search, focusing on technology, data, and AI leadership roles [3]. - His expertise includes sectors such as cybersecurity, SaaS, data, and fintech, with a strong track record in board to VP-level appointments and international expansion [3]. - Prior to joining Caldwell, Parish founded Innovex, a tech-focused executive search firm, and held partner-level positions at global firms, contributing to US market expansion [4]. - Caldwell's CEO, Chris Beck, emphasized that Parish's appointment reflects the company's commitment to investing in critical markets and practices for client success [5]. Company Overview - Caldwell is a leading retained executive search firm that connects clients with transformational talent, leveraging technology and AI for recruitment at all levels [5]. - The firm operates under two brands, Caldwell and IQTalent, offering a comprehensive range of services from candidate sourcing to talent strategy and assessment tools [5].

Core Insights - Caldwell has opened a new office in Dubai, marking its entry into the Middle East and North Africa region [1] - This expansion is part of Caldwell's global growth strategy and demonstrates the firm's commitment to serving clients globally [1] Company Summary - Caldwell is a retained executive search firm listed on TSX under the ticker CWL and OTCQX under CWLPF [1] - The new office in Dubai signifies a strategic move to enhance its service offerings in a key international market [1]

Core Insights - Heidrick & Struggles International, Inc. will participate in a virtual fireside chat at William Blair's inaugural Human Capital Services Conference on September 23, 2025 [1] - The CEO Tom Monahan and CFO Nirupam Sinha will represent the company during this event [1] - The company is recognized as a leading provider of global leadership advisory and on-demand talent solutions [1] Company Overview - Heidrick & Struggles has over 70 years of experience in delivering value through human capital leadership advisory services [1] - The company focuses on helping organizations discover and enable outstanding leaders and teams [1] - Heidrick & Struggles is listed on Nasdaq under the ticker HSII [1]