Blackwood’s client is a bank with a real estate mezzanine fund. Blackwood took on the mandate to find a European Head of the business following the failed search by another search firm.
Blackwood worked closely with the Global Head of broader lending to clearly define the criteria for this appointment. The key requirement was to identify and attract an individual with an investment mindset rather than a lending perspective.
The individual needed to work with the existing business in Europe and be able to significantly build the business in the medium term. It was also noted that the candidate needed to be cultural sensitivity in order to fit into a well-established senior team.
A relatively large pool of suitable candidates existed with real estate investment experience at the right level. It was also noted that many candidates with such desired experience would likely be tied in to a current firm and not be looking for a move to debt investment. A constant challenge in the assessment process was to find candidates with a demonstrable successful track record and the required network.
Blackwood appointed the former European Head of a Real Estate private equity fund. The process to longlist took 2 weeks, outlining a fully referenced mapping of the market including both equity and debt investors. It took a further 2 weeks to reach shortlist stage and the client chose to interview several strong potential candidates. The resignation process took time due to the tied in nature of the successful candidate and Blackwood remained fully involved in this process. Blackwood completed full referencing throughout the search.