Heidrick & Struggles loses Europe chairman

Viney worked on searches at board of director level. Sources close to him say he is considering setting up his own search firm after 20 years of experience in the market.

Phil Bainbridge, a partner who was based in Manchester covering retail financial services, has also left to join rival firm Spencer Stuart as head of consumer finance in Leeds.

In London, departures in recent weeks include the loss of Elizabeth Hammond in financial services. The firm has closed its City of London office, set up just a year ago, and moved remaining staff to the West End.

Heidrick is now expected to make some key hirings to bolster its resouces.

Its revenues in Europe fell 34% in the first quarter of this year, from the same period last year. It recorded a net loss of $17.7m, compared to a profit of $9.3m.