Case Studies
SEARCH FOR A START UP TEAM OF AN INTERNATIONAL OFFICE FOR A LEADING GERMAN BANK
Situation Analysis
A leading German bank specialized in structured financing wanted to
establish operations in Spain. The bank’s full service offering
included: direct investments, industrial projects, as well as
infrastructure financing through acquisition finance and project
finance. They decided to begin their operations in Spain with the
Project Finance Division. They needed to hire a complete team with a
matrix reporting line to the Country Manager in Spain and to the Head
of Structured Finance in Germany.
The bank came to Neumann International with the challenge to
identify a senior Director - a high profile and well connected
individual within the Spanish banking community, with specialist
finance skills and the motivation to build an operation in Spain.
Additionally Neumann International was to identify the team of
professionals to support the Director.
Action
The assignment presented challenges as the bank’s brand was not
known in Spain. Neumann International could confidently identify the
right candidates due to Neumann International’s thorough knowledge of
the financial services and Spanish market. The challenge however was
for Neumann International to act as ambassadors for the bank in Spain
to generate confidence and trust in an unknown banking brand amongst
the best candidates to motivate them to consider the opportunity.
Neumann International followed a rigorous approach to ensure full
understanding of the assignment brief. In depth meetings were conducted
with the bank’s senior management team – three board members and the
Country Manager for Spain - to ensure the Neumann International team
thoroughly understood the bank’s services, organization, culture and
strategy.
Following these meetings the Neumann International Financial
Services Sector Practice team of specialised senior consultants and
researchers developed the profiles, critical competences and personal
characteristics for the ideal candidates.
Comprehensive searches were undertaken to ensure all positions were
recruited within the desired time-frame.
Result
The start up team was successfully placed. One year later Neumann
International was asked to identify a Transaction Director to monitor
the investment portfolio. Six months after successful completion of
this assignment the Neumann International team was tasked with
conducting several more assignments for the bank including identifying
the Acquisition Finance Director and his/her team. Today the Spanish
organization is completed and the team is operating successfully with a
full range of products and services. Neumann International continues to
work with the bank in Germany as well as Spain.
SENIOR PRIVATE BANKING DIRECTOR FOR A SWISS BANK
Situation Analysis
One of the top ten Swiss banks specialized in asset management and
private banking recently established an office in Madrid to manage
operations for its private banking activity in Spain.
The bank had already established a team of professionals covering a
wide range of products and services for private banking. The bank had
also established partnership agreements with third parties to offer
complete advisory services tailored to specific client needs in fiscal
and legal matters related to asset optimisation.
The bank provided Neumann International with the challenge of
finding a Private Banking Director to consolidate its client portfolio
and funds under management. The desired candidate needed to have
experience in Private Banking with an already established client
portfolio and capabilities in client acquisition and product
structuring.
Action
Together with the CEO of the bank Neumann International defined the
key competences for the ideal candidate profile. A search strategy was
also developed with a complete list of companies where potential
candidates could be found, taking into account Neumann International
and client off limits.
Neumann International dedicated a specialised team to the assignment
- a Partner from the Neumann International Financial Services Practice
and a Researcher specialised in Financial Services.
Execution of the assignment had to be managed sensitively due to the
interconnected nature of the wealth management business community in
Spain – absolute discretion was required to protect the reputation of
the Swiss bank.
Neumann International presented a shortlist of candidates to the
Swiss bank via comprehensive confidential candidate reports. To ensure
confidentiality the name of the Swiss bank was not disclosed until the
client and candidates met.
Result
Speed was crucial to the assignment to guarantee confidentiality. In
a short time frame of only six weeks since receiving the brief from the
client the full search process was completed including: identification,
consultant interviews, writing of confidential reports,
client/candidate interviews, reference checking and support during the
term sheet negotiation process. Finally an outstanding Private
Banking Director was appointed.