Jerry Molaro likens his work as a recruiter to his days on the commodity exchange in New York trading in gold, silver and copper futures.

“It’s fast-paced, competitive and intense — you think about it 24 hours a day. And it’s high risk/high reward, says Molaro, 36, who gave up commodities trading when he relocated to South Florida in 1995 and took a job as a corporate recruiter for a giant staffing company.

Four years later, Molaro and a partner decided to start a two-person headhunting company, specializing in accounting, financial and executive search. They took their first and middle names and Gerard Thomas Inc. was created in Fort Lauderdale. “We didn’t take a salary for the first six to 10 months to build the business,” Molaro says.

Business took off during a tight labor market when companies were vying for job candidates. Gerard Thomas was placing six-figure-salary chief financial officers, controllers and senior accountants and earning up to 30 percent of the candidate’s annual salary for the placement.

But with the economic downturn of the past 18 months came corporate layoffs, hiring freezes and a very different job market.

“It’s a client’s market now,” says Molaro. “They’re cutting salaries and taking more time. What used to be a two- to three-week job search may now take two or more months. They may want to see 10 candidates and may work with more than one recruiter. And we don’t get paid until we deliver.”

Adding to Molaro’s woes and a turning point for the fledgling business was when his partner decided to move to Rhode Island and asked to be bought out a year ago March.

“It forced me to make decisions to grow the business in a challenging climate,” he says, adding that revenue grew 25 percent in the past year.

He hired three recruiters and launched a temporary staffing division that places everyone from a chief financial officer to an accounts payable clerk on a per project basis. Often, the temporary assignment turns into a permanent hire.

“I believe the nature of the permanent search business is turning away from the large conglomerates to a more customized, consistent approach that only a smaller firm can deliver,” Molaro says. “We really get to know our candidates and clients and make sure the fit is right.”

Donna Skees credits Molaro for getting her back in the job market two years ago. She had spent years working with her husband to run his delivery company and felt rusty in a corporate environment despite a bachelor’s in accounting.

“In a matter of weeks, he had me on a temporary job that a month later became a job offer,” says Skees, who last month started a new position as director of accounting for Family Central Inc., for which Molaro recruited her.

Mark Maki, director of human resources for Bacardi Rum in Miami, says he’s used Gerard Thomas over the past three years to find about 10 employees, mostly in finance and operations staff.

“Jerry is really good at quickly profiling what the hiring manager wants,” says Maki. “With a smaller, local recruiter, I believe we get better service and quicker response.”