Blackwood’s client is a ftse 100 international asset management company with over 200 years of experience in the world’s financial markets and with assets under management in the region of £200bn. The business was looking to strengthen their board with the appointment of an experienced individual who would join the Audit and Risk Committee.
Blackwood worked closely with the CEO and Chairman to clearly define the search criteria. The two key criteria were agreed as FTSE 100 CFO experience and a strong knowledge of the financial services sector. Other important factors were sufficient time and appetite to attend all Board meetings, in addition to undertaking other committee roles along with strong risk and audit credentials. It was also noted that the successful candidate needed to exhibit cultural sensitivity in order to fit into a well-established senior team.
We counselled our client that to limit the two key criteria to CFO in the FTSE 100 and financial services experience would result in a relatively small universe of candidates that had survived the financial crisis unscathed. As such, we agreed to widen the search to include other sectors and related backgrounds.
Blackwood appointed the former CFO of a FTSE 10 global energy business. This individual had been a top rated CFO of an international FTSE business for many years with a sound understanding of operating within highly regulated industries and a demonstrable track record of leading large scale transactions and projects across borders. Timing worked in our favour as the successful individual was just beginning to wind down from a busy executive schedule that would have precluded a time consuming non-executive director role. This was the first time this particular client had successfully used a search firm to place a member of their board.