FinServices Company Got Five Top Leadership Recruitments Done – 45% cost, 40% time savings

Tough Selection Criteria, Difficult Talent Availability Scenarios Did Not Deter Our Executive Recruiters

Summary:

A US-based private banking and wealth management company planned wide-scale expansion in Asian countries. Five new top leadership positions were created as part of the move: CMO, CISO, President of Asian Business, Global Head of Operations, and Global Head of Account Management.

For all positions, the client had specified a complex combination of specialized experience, knowledge, and proven abilities in Asian market expansion associated with specific target customer segments. Over 6-7 months of search conducted by different teams selected by the client, no candidates were selected.

After hiring the services of Alliance Recruitment Agency, the five top-level positions were filled within 4 months. The search involved a deep knowledge of Asian markets for the specified positions and wide access to talent networks in target regions that only our agency could fulfill.

The Situation

The client is a financial services company offering private banking and wealth management solutions in the North Americas. It was planning to launch operations in Asia. The primary target audience groups of the company were international business owners and real estate owners.

The client required outstanding leaders for these new positions, created as a result of the expansion:

1. Chief Marketing Officer (CMO)

2. Global Head of Operations

3. Global Head of Account Management

4. President of Asian Business

5. Chief Information Security Officer (CISO)

Challenges

The major challenges were the following:

• The executive search conducted by the company over 4 months led to 20+ interviews with no selection for any post.
• The executive search conducted by a North American HR partner over 2-3 months did not yield results, a key reason being talent outreach absence in Asian markets.
• The position needed a combination of private banking experience for the specific Asian target audience groups, an outstanding track record in the relevant domains, a wide networking experience in target Asian markets, the ability to communicate effectively in different Asian languages, and a career that involved major achievements.
• Other than the above-mentioned requirements, there were 20+ other key attributes and traits identified by the client to fit the best-match candidate profile.
• The positions also called for a lot of travel and proven abilities to plan and monitor various change management initiatives.

Top Leadership Executive Search Solutions And Approach

Alliance Recruitment Agency’s top leadership and C-level executive search team helped the financial services company fill all five positions within four months.

• We assigned the executive search project to three of our top C-level recruitment consultants in Asia and North America.
• A detailed persona was prepared for each position and shared with the client for approval, based on which a strategy was developed for talent identification and search.
• Our recruitment consultants chose three different locations for executive search, conducted a market mapping, and found out the ideal sources for passive candidate search.
• We also mined our talent pools and past records to identify the best way to engage with potential candidates and market the offer in the most persuasive manner.
• Our recruitment consultants also leveraged their referral network.
• Within 60 days, our shortlisted candidates had completed the first round of detailed virtual interviews, conducted by a panel of seven members, including two external consultants with 30+ years of industry experience.
• Out of the 15 candidates shortlisted by us (3 per position), 12 qualified for the second round of interviews, which included site-visits, presentations, and detailed consultative discussions.
• Within 85 days, the company was ready to finalize the offer for the three positions:
  • CMO
  • President of Asian Business
  • Global Head of Operations
• For the positions – CISO and Global Head of Account Management – the client insisted on starting a new search. They slightly modified the best-match candidate profiles.
• Our recruitment consultants were able to source the right candidates within 21 days.
• Within 4 months, five candidates were finalized, and the job offer process was also completed.

Outcomes for the Client

1. All five positions were filled, and the client rated our services as “outstanding.”
2. Our services helped the financial services company speed up its Asian expansion plans.
3. What could not be achieved despite rigorous searches by multiple teams was achieved by our C-level executive search expert in 40% less time
4. Our services also led to a 45% cost reduction when compared to previous efforts by the employer.

About Alliance Recruitment Agency

We are a wide network of recruitment and executive search teams offering a range of recruitment solutions worldwide.

Our ability to source highly specialized candidates within a short period of time is one of our key strengths. Our extensive recruitment experience also makes us an affordable recruitment partner, as we are able to get a lot done with less time, investment, and hassles.