Acquisition enables Canadian companies and government bodies to access specialized industry and global talent expertis.
Odgers Berndtson, a global leader in executive search with more than 200 partners in 27 countries, today announced that it has entered into an agreement in Canada to acquire RenaudFoster, one of Ottawa’s most established and leading executive search firms. Through this acquisition, Odgers Berndtson becomes the firm with the broadest reach in the country and the only global, integrated executive search firm in Canada with an office in the nation’s capital. The official name change will take place in 2015.
"This acquisition delivers on our goal of providing clients with deeper sector expertise, as well as a more integrated national and global approach to talent," said Carl Lovas, Canadian Chairman of Odgers Berndtson. "We are thrilled to bring the highly respected expertise of RenaudFoster to our firm, including their in-depth knowledge of the Ottawa market and their leading governance practice. We are also excited to introduce our world-class leadership assessment and executive interim services to the Ottawa market."
RenaudFoster is known for its high-quality approach to search, personalized service and unrivalled governance expertise. Now clients will also benefit from the broader scope and specialized resources of a leading global firm.
"Not only will our clients continue to receive the dedicated service they have come to expect from our firm, this move will provide them with greater value through the expertise of our new colleagues and the knowledge they have gained in working with top executives around the world," said Lili-Ann Foster, President and CEO of RenaudFoster. "And given the momentum that we’re seeing in Ottawa, where the recruitment needs of the public and private sectors are becoming more complex, the broader offerings provided by Odgers Berndtson will help our clients meet their succession needs, while supporting them to take a truly integrated approach to talent management."
New services and greater global reach will help public and private sector land top talent
According to a 2012 survey of Canadian senior executives conducted by Leger for Odgers Berndtson, more than 90 per cent believe they do not have the right next generation talent in place within their organization to take over at the executive level. More than half (62 per cent) of these executives also admit to having no formal plan in place to address the anticipated talent shortage.
Ten thousand people are retiring in the U.S. each day and we are seeing this same trend in Canada," explained Mr. Lovas. "The demand for talent is hitting organizations fast and hard. While historically it may have been common for Ottawa-based organizations to find the right talent locally, in today’s challenging environment having a national and global reach is as critical in Ottawa as it is in every other major centre."
In Odgers Berndtson, RenaudFoster’s clients will have access to new specialized industry and functional practices, including Financial Services,Technology, Education, Healthcare, and CFO and Board Recruitment. In addition, Odgers Berndtson’s Executive Interim and Leadership Assessment services will help clients to attract the best leaders and fill gaps where leadership shortages exist.
Odgers Berndtson global study of university technology research reveals dearth of UK specialists.