Chief Product Officer (CPO)
The Role:
Client Confidential
The Client:
Our Global Client is a leading financial services organisation, boasting £multimillion revenues and a unique and enviable track record of success on the international stage.
Known for their innovation and cross-sector collaboration, their business has a hugely diversified portfolio of interests ranging across products and services, both in the physical and digital sense.
Such has been their exponential growth in recent years, they approached Moon Executive Search to manage a highly confidential assignment to appoint a new Chief Product Officer to work closely with the CEO in setting up a new FinTech Group in central London. For this role, they sought an expert in designing and delivering a product strategy and roadmap with an emphasis on blockchain technology. They needed someone who could carefully consider what the commercial, regulatory and technological challenges and opportunities would be to their new venture.
The Challenge
Given the highly regulated and commercially sensitive nature of this venture, Moon Executive Search were asked to sign a Non-Disclosure Agreement (NDA) and to work closely with the Executive Board at each step of the search campaign. Candidates were also bound by strict NDA terms prior to any sensitive information being shared for review.
What was clear from the outset was the need to identify individuals who could bring an innovative style of working, researching and scenario testing concepts through detailed pilots prior to the implementation of any digital applications. Therefore, our own market research required a deep dive into both established and emerging markets, considering candidate profiles that had a potential alignment to the brief in terms of product management, trading and portfolio risk management, coupled with a track record of high growth start-up success.
The final element of our challenge for this search was to immerse ourselves in complexity of the technology, appreciating the differing structured financial products and gaining an insight into the differing viewpoints with regards to industry trends, emerging technologies and best practices.
Our Approach
Both Vanessa Moon, Founding Director and Simon Quinn, Director of Search, met with the full Board for a detailed brief, which included a presentation outlining the strategic aims of the new venture, where the individual fitted into the wider corporate structure and a thorough insight into existing market technologies, competitor approaches and target businesses.
This search was pan-European and therefore involved considerable research into varying Governmental regulation, which assisted us when we assessed a target candidate’s potential breadth and depth of knowledge, suitable and applicable for the UK market. Having identified a longlist of target candidates, Moon arranged a day of interviews in Central London. These interviews were meticulously planned to ensure we gained a clear understanding of each candidate’s technical knowledge and experience, style and approach to leadership (ensuring we drew out agile working methods and product and change management methodologies) and their individual career motivations, such that we could recommend them to the Board for panel assessment.
Once the shortlist had been agreed, we joined the Board for their two-day selection process, providing detailed feedback to all parties after each session. The full process involved psychometric assessment, two panel interviews, a presentation and a live ‘in-tray’ exercise aimed at understanding capability, style, innovation and motivation.
The Solution
The detailed nature of the final stage process ensured that we were able to identify a candidate who met the requirements of the brief. Moon handled the on-boarding process, negotiating the final salary, bonus and LTIP package to ensure all parties could proceed with confidence.
‘We already have another search to instruct Moon to conduct for us’
The search resulted in the appointment of a start-up specialist with a background of new venture development for businesses, subsidiaries and products with a focus on differentiation and innovation through technology. The new Chief Product Officer also brings a track record of setting up and managing high-growth profitable dealing desks using institutional clients on a multi-asset basis including indices, equities, commodities, FX and options.
Vanessa comments, ‘This was such an interesting assignment, challenging us to be innovative and creative in our approach to the market and both Simon and I are delighted to have successfully fulfilled the brief.’
Simon adds, ‘Reaching into niche markets and getting to grips with the technical requirements of the role was both stimulating and rewarding. This new venture will certainly make waves in the market and I am very confident that the candidate that we have identified will bring a fantastic knowledge and network of contacts to ensure this venture is a huge success for our Client.
Our Client, who wishes to remain confidential, commented:
‘Vanessa and Simon were a pleasure to work with; they were detailed in their approach to this assignment and demonstrated excellent judgement to instinctively know who to approach for us, and then great professionalism in representing our business and the opportunity to the candidates. We already have another search to instruct Moon to conduct for us and we are confident that their professionalism and extensive reach will once again produce the right results for us.’
Moon Executive Search provide bespoke solutions for clients, using our extensive expertise and knowledge gained from twenty years of recruiting to find your perfect candidate. If you are looking to appoint a senior leader to your Board, visit Build Your Board to get started, or call us on 01275 371200.
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