Senior Executive Market Updates – Prospects in 2024

Q4 2023 was a particularly strong market with positive activity reported across the major geographic regions and in many business sectors. Following the inevitable slow down for the holiday season the new year started more slowly and search consultants globally have been finalising mandates and commencing search activity which is now beginning to reflect a growing confidence despite some of the geopolitical issues.

The economic situation, whilst variable in certain regions is nevertheless broadly looking more positive and consequently the InterExec network of over 15,000 senior executive search consultants consistently report a market which looks increasingly positive in the coming months.

In Asia the expectation is that the market will become significantly more active following the Chinese New Year and whilst some sectors such as automotive are slower, manufacturing and fashion are currently much stronger.

An example of the search consultant view is that they “would expect this year to be better than last year given the strong US economy and that the FED is cutting the interest rate in May 2024. I think that HK and China have bottomed and both economies are poised for a rebound”.

Across the Middle East, the EU and North America whilst the fintech market has seen a period of constant change, fintech investment and activity is seen to be increasing in France, Germany, China, Brazil, India and especially the UK.

There are the beginnings of a pick-up in M&A both in the US and UK, and the global insurance market continues to be a strong area of growth and the search for senior executives that will continue to drive transformation and new developments.

Despite the upheaval in the London banking sector it is reported that “city-type senior roles” are higher in the square mile and canary wharf. Business sectors including tech, life sciences, legal and regulatory services are areas of this increasing activity.

Interesting to note that London continues along with New York and Hong Kong to reflect the importance of its financial market credentials. In a recent report which benchmarks the world’s cities across 101 metrics, found that London had achieved the top spot partially due to its strength in sustainable finance, as well as talent and skills. Another key reason cited for the UK’s success was its high number of unicorns, or startups valued at over $1bn, more than Singapore, Germany and France combined.

Financial, professional services, consultancy in many sectors and M&A transaction services are all sectors where in several geographic regions the market is increasingly active.

Finding the right search consultant with the most appropriate job opportunity to match your objectives in this unadvertised and often politically complex marketplace is one of the key InterExec skills.

Please do not hesitate to get in touch with the InterExec team at any time up to 6 months prior to when you hope to move.