Stanton Chase All Set to Make a Come­back Here

Co ropes in some of its erst­while part­ners af­ter lo­cal own­ers gave up fran­chise rights

The Economic Times - - Companies: Pursuit Of Profit -

Sreer­adha D Basu

Mum­bai: Stanton Chase In­dia is mak­ing a come­back with some of its erst­while part­ners af­ter the pre­vi­ous own­ers gave up lo­cal fran­chise rights to the top 10 global ex­ec­u­tive search com­pany as part of a busi­ness con­sol­i­da­tion.

Four se­nior ex­ec­u­tives — Amit Agar­wal, Ash­wini Prakash, Mala Chawla and Sri­pad Kn — who were with the ear­lier Stanton fran­chise will now head the en­tity in In­dia. The new own­er­ship set-up fol­lows the move by erst­while own­ers, the Agrawals, to merge with the Ac­cord Group and re­launch the com­bined en­tity as Ac­cord In­dia.

“The four will have a dis­trib­uted own­er­ship model in Stanton Chase, with each of them own­ing a share of the com­pany in In­dia. This will guar­an­tee a much more sta­ble and long-term-ori­ented busi­ness,” Mickey Matthews, in­ter­na­tional chair­man of Stanton Chase, said in an ema- il re­sponse to ET. Stanton Chase cur­rently has six of­fices across In­dia and the four lead­ers cover all nine in­dus­try spe­cial­i­sa­tions the firm glob­ally of­fers.

The lat­est bid for the lo­cal fran­chise of Bal­ti­more-based Stanton Chase, which started out in the tal­ent-search busi­ness in 1990, is the third in four years: In 2013, R Suresh, who headed Stanton Chase In­ter­na­tional’s ear­lier ven­ture in In­dia, sold his fran­chise, along with two other com­pa­nies to RGF Ex­ec­u­tive, the search arm of Ja­panese com­pany, Re­cruit Hold­ings.

Soon af­ter this exit, BP Agrawal, pa­tri­arch of the In­dian re­cruit­ment in­dus­try, stepped in as the new head. Ear­lier this month, the Agrawals merged the two in­de­pen­dently operating ex­ec­u­tive search firms — Ac­cord Group and Stanton Chase In­dia — to op­er­ate un­der the brand Ac­cord, and gave up the In­dia fran­chise for Stanton Chase In­ter­na­tional.

“One of the ma­jor dif­fer­ences be­tween the ear­lier two ver­sions of Stanton Chase and this ver­sion will be a struc­ture

Four se­nior ex­ec­u­tives, who were with the ear­lier Stanton fran­chise, will now head the en­tity in In­dia

that will have no em­ploy­eecon­sul­tant work­ing for a sin­gle owner. Our con­sul­tants will be in­de­pen­dent, work as profit part­ners and be an­swer­able only to their clients. As eq­uity hold­ers, we will con­tinue to op­er­ate as con­sul­tants,” Amit Agar­wal told ET.

The new en­tity may well trig­ger a fresh tal­ent churn in the search space. Ac­cord­ing to Amit Agar­wal, seven con­sul­tants from the re­launched Ac­cord In­dia — and pre­vi­ously work­ing with Stanton Chase — are join­ing them. One con­sul­tant will join from out­side.

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