Multiple C-level Hires for a Start-up BDC
Shareholders of a successful public closed-end fund had approved an expansion of the company’s activities to include the potential development of new products and the creation of an asset management subsidiary.
The firm then relocated and needed to fill five senior-level management roles with people who would be able to shape the firm’s new direction while also building on more than 50 years of long-term success.
We assisted the firm in identifying which roles were complementary enough that one person could reasonably assume them; thereby consolidating five critical roles into two positions. Then we conducted a needs analysis to determine the primary responsibilities of these roles and the unique combination of skills and qualifications that would allow someone in each position to be successful and challenged.
We conducted two parallel national searches targeting high-potential active and passive candidates. Our systematic candidate pipeline process thoroughly screened, interviewed, and vetted each candidate's technical and soft skills against the client’s desired candidate qualifiers. For each position, we delivered confidential written profiles for a final slate of qualified candidates who possessed the technical expertise, temperament, and specific experience to succeed at the firm.
Finally, we provided additional advice and guidance to the hiring manager and CEO to ensure a respectful, productive, and fair client interview and internal evaluation and selection process.
Well-defined roles and a thorough evaluation process positioned each new hire for immediate and long-term success. The client was able to hire for two positions simultaneously: a Chief Legal Officer (CLO), Chief Compliance Officer (CCO) and Corporate Secretary, responsible for managing all aspects of the company’s legal affairs, compliance programs, and board and shareholder meetings; and a Chief Financial and Operations Officer, responsible for managing financial, administrative, and operational aspects of the firm.