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Thursday, Sep 21, 2023

The Pacemaker

Cornerstone International Group over the past decade, Cornerstone International Group has grown into one of the largest executive search firms in the nation. It has rapidly expanded by acquiring stakes in other recruiting firms around the world, creating a network that boosted company revenues to $170 million in 1999. While Cornerstone tied with Agoura Hills-based Independent Resource Systems for L.A. revenues in 1999 both reporting $6 million Cornerstone’s companywide revenues put it at the top of the list. Over the next year, Cornerstone will shift its focus more toward high-tech placement, said Chairman and Chief Executive William Guy. “Technology in general is experiencing tremendous growth and simultaneously a tremendous shortage of talent,” Guy said. The firm is also working to raise its own visibility and brand name over the coming year. It will continue to buy stakes in firms worldwide as part of that effort, Guy said. Cornerstone’s revenues increased 15 percent in 1999 over the previous year, as demand accelerates for executives. “A lot of companies were gun shy in the early 1990s (about hiring backup executives),” Guy said. “Now, if they want to grow, there’s no one to promote. They don’t have any bench strength to promote and they’re playing catch-up.” Cornerstone was founded in 1967 in Los Angeles and now has 45 offices in the United States and offices in every continent.

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