Irish recruiter Phoenix has expanded into the US with the opening of its first stateside offices at the Chrysler Building in Manhattan after securing investment of €1m last year to fuel its international growth plans.
Phoenix offers recruitment services in the tech, fintech, financial services and professional services sector and also has offices in Limerick, Dublin and London.
Molloy is a Waterford native and a former senior consultant at Morgan McKinley and head of advisory & consulting recruitment at Taurus Search in New York. Kraeger, meanwhile, spent 22 years as managing director at Robert Walters' NYC operation.
“This has been a tremendously gratifying milestone for the entire company. We are an Irish business with long-standing ambitions to go global," said Ed Rossiter, founder and Co-CEO of Phoenix.
"Our journey over the past four years has been an incredibly rewarding challenge for us and it would not have been possible without the efforts of the entire team. We’re excited to bring Phoenix's offering to the US, and continue working with the fantastic team we have in place."
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Ruth Lyndon, co-CEO of Phoenix, added: “While we are facing some challenging economic headwinds, there is still much room for optimism as the future of work continues to evolve, and the demands of employers and employees continue to shift.
"Phoenix looks forward to continuing to be on the cusp of these changes, helping companies scale to their full potential and global ambitions, while also continuing to grow ourselves as a business in the process. New York is just one step in our exciting plans for the future."
Phoenix employs 50 people and is currently hiring across all of its specialist sectors for experienced recruitment professionals, and/or career changers with relevant industry or sales experience.
Paul Molloy and Kurt Kraeger will join the company in New York as managing director and senior vice president, respectively, to facilitate the expansion.
“Paul brings a wealth of recruitment expertise, business acumen, leadership skills, and a passion to succeed to the team in New York, where we are excited to continue to build out our successful business offering," Rossiter said of the addition of Molloy.
"With over 30 years of experience in recruitment, Kurt is a respected and admired member of the recruitment sector in NYC and the US.
"With diverse experience in the executive search and staffing industry, his approach to recruitment aligns with our mission and vision at Phoenix. Both Paul and Kurt are fantastic additions to the Phoenix team during this new chapter."
Rossiter founded Phoenix in 2018, and operating company Talent IQ Ltd had net assets of €874,000 at the end of 2021, including €530,000 in cash and debts of over €1m, up from €331,000 a year earlier.
Profit rose from €214,000 in 2020 to €582,000 that year. Rossiter and Lyndon are listed as company directors, and their remuneration close to doubled from €156,000 to €310,000 in 2021.
Photo: (l-r) Ruth Lyndon and Ed Rossiter. (Pic: Phoenix)
