Stabilizing Key Executive Leadership Positions

Roles: Head of Counterparty Credit and Head of Market Risk Management

Our client is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With over $27 trillion in assets under custody and administration and over $2.3 trillion in assets under management, our client operates globally in more than 100 geographic markets and employs nearly 30,000 individuals worldwide. 

Objective

Our client had realized a fairly high attrition rate of its risk officers, up until the current Chief Risk Officer joined the firm. Secondly, the firm’s risk department remained largely staffed with credit risk professionals despite having shed its banking divisions many years ago. Our challenge was to help stabilize key executive risk positions with newly defined roles meant to attract leaders who would bring with them more sophisticated investment and modeling capabilities. Furthermore, once employed by the client, these professionals would be required to staff up functionally aligned teams underneath them.

Strategy and Result

As early as our initial strategy session with the firm, we knew we would research and recruit from the New York City marketplace, targeting direct competitors within global markets. We identified and placed two great leaders in each risk discipline that had great executive presence and successful track records in building and managing teams. Additionally, each was at a stage in their careers where a relocation to Boston and the idea of building teams from scratch was very attractive.