Citipeople receives venture capital investment, plus new chairman

Citipeople said the cash would help it take advantage of &quotgreen shoots of recovery&quot in the sector. It also said it had appointed Ken Brotherston, formerly of the global search firm Korn/Ferry, as chairman.

Brotherston said Citipeople expected to expand internationally in Europe, the US and Asia. Most of its revenues currently come from the UK and Ireland. He said the group, which is currently best known for finance, administration and operations roles, would also focus more on front office and IT roles.

Citipeople owns the Morgan McKinley search and selection firm as well as the search arm Wellington Consulting. It also offers career management services.

Brotherston left Korn/Ferry's Futurestep internet arm, of which he was president, in January. Korn/Ferry said last month that Futurestep's revenues had fallen sharply and that it was making an operating loss.