TORONTO, Aug. 10 /CNW/ - Retained executive search firm The Caldwell
Partners International Inc. (TSX: CWL.A) today announced that it has acquired
Cromwell Partners, Inc., a New York City-based executive search firm
specializing in financial services.
"This acquisition is a significant step forward for The Caldwell Partners
in the execution of our strategic plan to invest in the growth of our company
across North America," said John N. Wallace, President and Chief Executive
Officer. "The addition of Cromwell's very experienced and accomplished
partners brings our total number of partners in the United States to a size
that is now approaching that of our Canadian business. We also are very
pleased to welcome the professional and supporting staff of Cromwell Partners
to our team.
"Since its founding in 1991, Cromwell Partners has established itself as
a leader in carrying out executive searches in the U.S. financial services
industry. It has successfully executed thousands of searches and believes that
its completion rate ranks among the highest in the search industry in the
United States. Its capabilities and reputation in this sector complement the
experience of our other American partners located in San Francisco, Los
Angeles, Dallas, and Chicago," Mr. Wallace said.
Cromwell Partners' recruitment activities span the breadth of the global
financial services industry, serving clients across investment management,
alternative investments, global banks and investment banks and major
endowments. Functionally, Cromwell Partners has long-standing experience and
expertise across corporate and investment banking, capital markets,
institutional marketing and investor relations, investment management and
research, as well as senior financial, operational and technology management.
"While others in our industry have been contracting in the current
economic environment, we are fortunate that our financial strength is enabling
us to invest in the growth of our business," said Mr. Wallace. "It is our
intention to continue to invest prudently in the expansion of our organization
in North America. Our focus is on positioning The Caldwell Partners to enjoy
significant growth as the economies recover. Through this, we expect to
increase the value of the company for our shareholders."
"We are looking forward to being a part of The Caldwell Partners as it
continues to grow its business across North America," said Paul Heller,
President of Cromwell Partners. "We were attracted to The Caldwell Partners
because of its unique team of experienced, high-calibre, and client-driven
search professionals. We share common corporate values and focus on superior
client service. We will be working closely with our new colleagues across
North America to expand our financial services practice, leveraging our
success to deliver exceptional search solutions to clients".
"Our fiscal 2009 year has been one of investment and great change," said
Mr. Wallace. "We are pleased with our efforts to date and very excited about
our prospects moving forward both in Canada and the United States."
About The Caldwell Partners
Retained executive search firm The Caldwell Partners International Inc.,
founded in 1970, provides human-capital services to its clients through its
offices in Vancouver, San Francisco, Los Angeles, Dallas, Calgary, Toronto,
Montreal, and New York City, and its partners in Chicago. The Caldwell
Partners focuses, in particular, on recruiting "C-class" executives (chief
executive, chief financial, chief information officers, as well as other
senior executives). The Caldwell Partners takes pride in delivering unmatched
depth of service and expertise to its clients, the calibre and experience of
its staff, and the successful completion of its engagements. The Caldwell
Partners founded and continues to promote the prestigious national awards
programs recognizing Canada's Outstanding CEO of the Year(TM) and Canada's Top
40 Under 40(TM), and advises and supports the Canada's CFO of the Year
Award(TM) program. In 2009, the Canada's Outstanding CEO of the Year(TM) and
Canada's Top 40 Under 40(TM) programs are marking their respective 19th and
The Caldwell Partners' Class-A non-voting shares are listed on The
Toronto Stock Exchange (TSX: CWL.A). Please visit our website at
www.caldwell.ca for further information.
Forward-looking statements in this document are based on current
expectations that are subject to significant risks and uncertainties. Actual
results might differ materially due to various factors such as the competitive
nature of the executive search industry, the ability of the company to execute
its growth strategies, the performance of the Canadian domestic and
international economies, and the company's ability to retain key personnel.
The Caldwell Partners assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from
those reflected in the forward-looking statements.
For further information:
For further information: Richard W. Wertheim, Wertheim + Company Inc.,
firstname.lastname@example.org, (416) 594-1600, (416) 518-8479 (cell)