Finance: Capital Markets: Technical Accounting

When recruiters on its preferred supplier list were unable to deliver a senior director for its Client Solutions group, a major European investment bank came to Astbury Marsden.

The skill-set required for the role was unusual and highly specific. Client Solutions professionals offer advice to clients on structured transactions across all asset classes. They combine excellent customer relations and quantitative skills with a broad understanding of complex products, and knowledge of regulatory and technical accounting issues.

We created a long list of 8 potential candidates. Names were drawn from the few similar teams at rival banks, groups providing technical accounting advice to traders, and accountancy firms offering a technical audit advisory service to clients.  In consultation with the client we narrowed the long list down to a shortlist of four candidates. Two were drawn from investment banks; two came from accounting firms.

Initial interviews were conducted with all four candidates. Two went through to the second round, and a candidate from an investment bank was selected to fill the role.

Unfortunately, the process didn't end there. The investment bank did its best to dissuade the candidate from leaving. A counteroffer was made; the salary offered by our client was matched and an attempt was made at broadening the candidate's existing role.

Astbury Marsden consultants worked closely with the client and the candidate throughout the counteroffer process. We met with both parties to discuss the specification of the new role and the candidate agreed his existing employer was unable to offer a similar level of responsibility and customer interaction.

Eight weeks after we won the mandate the position was filled. The client has now asked us to join their preferred supplier list.

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