Russell Reynolds sets up direct presence in Dubai

Source: Russell Reynolds
Associates website.

Russell Reynolds Associates has opened an office in Dubai, located at the Dubai International Financial Centre (DIFC). The global assessment, recruitment and succession planning specialist for CEOs, boards of Directors and key roles within the C-suite started doing business in the Middle East in 1975. The firm now has 46 offices in 26 countries spread across Europe, Asia, North and South America and the Middle East.

“Our firm was first in our industry to establish a Middle East Practice, and we remain unique with dedicated consultants based both inside and outside of the region. Our Dubai office is another important step in the global expansion of Russell Reynolds Associates,” says Clarke Murphy, CEO of Russell Reynolds Associates. "Our company continues to expand: the past calendar year was an history high."

The executive search firm's presence in the Arab world will be boosted by the new office, which will be tightly integrated with the firm’s Middle East desk in London. "The Middle East continues to play a key strategic role for many of our clients, most major multinationals and world banks. Our Dubai office complements our clients' growing demands for physical presence in the region," explains Dr Stephan Schönwälder, Managing Director at Russell Reynolds Associates and Area Manager for Dubai. Dr Stephan Schönwälder works with senior members of the London desk Mat Green and Lamees Al-Ashtal. Green coordinates the firm's Middle East practice and conducts assignments for clients in the financial services, oil & gas, mining and natural resources sectors.

Dr Schönwälder joined Russell Reynolds Associates from another search firm, where he led the Middle East Financial Services Practice for four years. He also worked on numerous assignments in the ICT and FMCG industries and served family-owned businesses. Schönwälder was a former Partner with McKinsey & Company, serving as the head of the company’s Middle East Business Technology Practice and as a core member of the region’s Financial Services Practice. He also worked for numerous family conglomerates and government institutions, with a focus on Saudi Arabia and the UAE. 

Schönwälder explains, "The region has considerable potential. Many of the Gulf States are successfully expanding their range of economic activities – moving away from oil toward promising sectors of the future such as tourism and hospitality, financial services and telecommunications. We advise companies and institutions in the region on all talent issues across all industries, with our wide-ranging executive search knowledge and international and local expertise."

Euromonitor analyses consumer opportunities for those over 60

Source: Euromonitor website.

Market research company Euromonitor International released today a new white paper on the senior consumer opportunity. While companies have traditionally ignored later lifers, defined as people over 60, because they are seen as frugal spenders with lower incomes and the ability to resist marketing messages, this segment is growing significantly.

The population over 60 stood at 912 million in 2014, representing 12.6% of the global population, and by 2030, this segment will grow to 18% of the total, or 1.5 billion globally, the company said.

While China is the fastest growing ageing market with over 60s forecast to grow by more than 46% between 2014 and 2030, Japan has the oldest population, with a third of the total population aged over 60. Japan is a model on the impact of this demographic shift, showing the effects of different methods of governmental intervention and product development opportunities.

Key findings include:

• E-health, home assistance and elderly-friendly services will drive technology developments in the senior market, with health being the most dynamic consumer expenditure category through 2030. 
• Efficacy and natural features remain key when it comes to marketing beauty products to the over 60s. 
• Luxury goods focusing on heritage and craftsmanship are popular.
• As senior consumers usually invest in timeless, quality clothing, an older population will have a negative impact on sales volume in the apparel market. 
• Presbyopia represents a key market driver in eyewear. 

Download a copy of the white paper here. 

World Economic Forum launches first online leadership module for professionals

Registration is now open for the World Economic Forum’s first online leadership module for professionals – Global Information Technology Outlook. Designed for senior executives and accelerated leadership programmes, the six-week online module will provide a 360º perspective on the key emerging technologies that are transforming industry and societal landscapes.

Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, said: “Today, leaders are under increasing pressure to make sense of the complex, volatile and uncertain environment in which they operate. A key reason for this is the pace of technological change. Recognising this need, our inaugural Forum Academy module will help leaders by providing greater contextual awareness of the transformations underway in the area of information technology.”

The Global Information Technology Outlook module is designed to provide participants with a deeper understanding of the key emerging technologies driving change and their impact and draws on a cross-section of over twenty global industry leaders, top practitioners, technology pioneers and leading scientists. Topics discussed include robotics, artificial intelligence, big data and sensor networks.

The module will begin on 17 June through Forum Academy, the online global learning platform of the World Economic Forum which provides continuous leadership development and updating for professionals and organisations to enhance their strategic knowledge in a fast-changing world.

Forum Academy was launched during the Annual Meeting 2014 in partnership with edX, a non-profit initiative for online education created by founding partners Harvard University and MIT. Anant Agarwal, President of edX said: “EdX’s partnership with the World Economic Forum represents a shared goal to enrich the professional and leadership development of leaders around the world using next-generation technologies. We are excited that the Global Information Technology Outlook module is launching and believe that online learning is naturally suited to impart insights into the fast-paced, disruptive and strategic impact of global technology on business and society.”

For further information and to sign up for Forum Academy modules, please visit http://forumacademy.weforum.org