Ann Knight was a Wall Street research director during the stock-crazy 1990s, when firms expanded aggressively and hiring new analysts was practically a full-time job. But now big investment banks, stung by a burst bubble and a stream of regulatory woes, are slashing their equity research departments. So Knight is leaving the Street to become -- what else? -- a headhunter.
The former standout auto industry analyst -- she topped the sector in this magazine's annual All-America Research Team survey from 1986 to 1991 -- last month joined Global Sage, a Hong Kongbased executive-search firm that caters to global financial services clients. Founded six years ago by John Wright, exdeputy editor of the Asian Wall Street Journal, Global Sage seeks to bring strategic discipline to the often ad-hoc search business by pairing industry practitioners like Knight with former journalists who gather information on the top performers in various jobs.
Knight, 59, is charged with boosting the 55-person firm's New York business. She has plenty of experience coordinating a far-flung staff, having served as Citigroup's head of global sector research from 1998 until 2003, when Citi dismantled its global research product. Knight moved into the role of associate research director but soon missed her cross-border responsibilities. As luck would have it, late last year May Koon, a Global Sage director in Asia and a former PaineWebber colleague of Knight's, called and asked if the research director had ever considered becoming a headhunter.
"My highest and best use is to work cross-border with multicultural teams," says Knight. "I really like running flat out."
In keeping with Global Sage's business model, Knight will be searching for a broad array of financial services professionals, including investment bankers, bond salespeople and foreign exchange traders. With all the cutbacks, however, the market for stock researchers isn't exactly robust these days. Quips Knight, "I wouldn't have much to do if I were just recruiting analysts."
