James Caanís HB International acquires specialist - 17/08/2011
Leading global executive search firm, HB International has acquired specialist recruiter Ingram Mayet. The newly formed joint venture, which underlines the groupís clear commitment to invest in talent for the future, will be branded HB Ingram Mayet.
HB International has experienced phenomenal growth since its inception at the end of 2007. It has doubled profits year on year and expanded its executive search coverage from Private Banking to Treasury and Transaction Banking, Commodities and Executive Office. The merger of both businesses will see Ingram Mayet's existing contingency recruitment team, which covers middle and front office recruitment, benefit from HB Internationalís global presence across Asia and the Middle East.
For the last seven years Ingram Mayet has built a reputation of delivering quality candidates to the middle office in the financial services sector, and more recently for developing a very successful front office sales and trading recruitment team.
Commenting on the acquisition, Mo Mayet, founder and chairman of Ingram Mayet commented "This is a fantastic opportunity, allowing us to gain a global presence at an incredible rate, and will complement our existing client base and candidate pool to add a truly global end-to-end recruitment offering". Mayet will take on the role of Managing Director of HB Ingram Mayet.
Stephen Heal, CEO of HB International adds, "This deal comes at a great time for the HB International group. We are proactively purchasing new business lines, investing in start ups, and continuing to press ahead with aggressive global expansion plans. "
James Caan, whose private equity firm, Hamilton Bradshaw is backing the deal, is also delighted with the merger. He says "I am very excited by the acquisition. There is great synergy between the two businesses and an excellent cultural fit. With the collective vision of the two partners, we now have every opportunity to achieve positive growth. The merger will enable us to broaden our offering with an extremely valuable customer base that both businesses have been able to develop in the last few years".