Latest news with #EgonZehnder
Axios
8 hours ago
- Business
- Axios
The job market is brutal for women executives
It's a brutal time for women executives and others who don't neatly fit the stereotypical ideal of a leader. Why it matters: Not only has the zeal for diversity that's defined the past decade faded, but backlash from the White House has made firms even less willing to take risks on "nontraditional" candidates, including women, people of color and LGBTQ+ people. The big picture: For years, executive recruiters were asked to find diverse slates to fill the top spots inside U.S. companies, moving up the numbers, if only slightly, inside these firms. That's not happening anymore, says Lindsay Trout, a partner and talent consultant at executive search firm Egon Zehnder, who finds candidates at the C-suite and board level for large companies. How it works: A board running a search for a CEO will draw up a list of specifications for candidates. They might say, "We're looking for public company CEOs who are in the tech industry at companies that are at X scale," Trout explains. Go with those specs and "you end up with a list that inevitably excludes females from consideration." It would be like looking for someone to head an NGO and only considering those with experience as a U.S. president or secretary of state. Zoom out: For a few years, firms would also say they would like to consider a "diverse slate" so you could bring in other qualified candidates with potential who did not exactly meet the criteria. "Now that is not part of the conversation or expectation," Trout says. "I took my pronouns out of my resume," an editorial leader who was recently hunting for jobs tells Axios, asking for anonymity to speak freely while still searching. They decided to "tone it down," feeling like being too openly queer was hurting the search. They locked down a contract job soon after making those adjustments, though it was not clear if that was a factor. Zoom in: There was rising backlash and some fatigue at the board level even before President Trump took office in January and made ending DEI efforts a priority. "People are generally satisfied with the progress that they have made," Trout says. Context: After a surge of appointments in 2020 and 2021, companies are now naming fewer women and people of color to their boards, Axios reported last year. Some firms have started to reverse course. At Meta, women make up 23% of board directors. Just a few years ago in 2022, that figure was 44%. Over the past year, no women CEOs were recruited into Fortune 500 firms. The ones who nabbed that top spot were internal hires. Between the lines: The process of looking for diverse slates did drive some resentment and likely hurt some men. "It probably is true that equally as compelling white male talent didn't get the nod" for board roles, Trout says. Reality check: Many large companies have continued to defend DEI efforts, at least from shareholder attacks. Not all firms have walked away from this work, says Jennifer McCollum, CEO of Catalyst, a nonprofit that advocates for women in the workplace. Scaling back entirely from DEI can lead to increased risks on the legal side, as well as talent loss and reputational damage, she says.
Business Wire
02-06-2025
- Business
- Business Wire
Harvard Business Review Launches HBR Executive, a New Premium Subscription for Senior Leaders
BOSTON--(BUSINESS WIRE)--Harvard Business Review has announced the launch of HBR Executive, a premium subscription designed for senior business leaders navigating an increasingly complex and volatile world. Built on HBR's longstanding role as a trusted source for C-suite leaders, HBR Executive delivers insights, strategies, and tools to help executives make sense of the moment, make smarter decisions, and solve problems more effectively. 'It's never been harder to be a leader,' said Adi Ignatius, Editor at Large of Harvard Business Review. 'HBR Executive aims to help CEOs and their top teams tackle the most pressing issues of our time—from the rise of AI to rapidly shifting political and geopolitical landscapes.' The new offer is presented in partnership with Egon Zehnder, the premier global leadership advisory and executive search firm. As part of this collaboration, Egon Zehnder will contribute content to HBR Executive on a regular basis, drawing from their work with leading companies and executives. 'We're thrilled to partner with Harvard Business Review on HBR Executive,' said Francesco Buquicchio, CEO of Egon Zehnder. 'From our work with leaders, we know the landscape is complex—but we also see them rising to the challenge. This offering provides more of the context they need to succeed, bringing the best thought leadership and real-world experience to support them on their journeys.' HBR Executive subscribers receive exclusive access to: HBR Executive Agenda A weekly newsletter from Adi Ignatius highlighting emerging challenges and their impact on organizations, with contributions from senior leaders who've navigated similar issues. HBR Executive Playbook A biweekly series offering curated advice and actionable guidance from leaders on common executive challenges such as board dynamics, talent strategy, and crisis communication. HBR Executive Masterclass Short, practical videos on essential leadership skills, with topics including Leadership in the Age of AI and Becoming an Empathetic Leader. HBR Executive Live A monthly virtual Q&A hosted by Adi Ignatius, featuring subject-matter experts on topics ranging from geopolitical shifts to organizational resilience. The subscription also includes unlimited digital access to six print issues of Harvard Business Review annually, four complimentary e-books per year, and a curated selection of Harvard Business School case studies. Current HBR subscribers have the option to upgrade to HBR Executive directly through their account settings. To learn more, visit HBR Executive. Harvard Business Review is the leading destination for smart management thinking. Through its flagship magazine, nine international licensed editions, books from Harvard Business Review Press, and digital content and tools published on Harvard Business Review provides professionals around the world with rigorous insights and best practices to lead themselves and their organizations more effectively and to make a positive impact.
Forbes
20-05-2025
- Business
- Forbes
Why Financial Services Needs A New Breed Of Leaders
Each year, financial services becomes a little more digital, a little more regulated, and a lot more ... More complex. Each year, financial services becomes a little more digital, a little more regulated, and a lot more complex. As the pace of change accelerates, the industry's approach to leadership is being fundamentally rewired. A recent piece by Egon Zehnder underscored the unique role CHROs now play in navigating this transformation, balancing innovation, compliance, and culture. Meanwhile, True Search highlighted in a post the shifting AI talent landscape, suggesting that firms that fail to evolve will fall behind. To understand how leadership hiring is evolving at the intersection of finance and technology, I spoke with Roopa Foley, Global Co-Head of Financial Services at Egon Zehnder, and Jonathan Pomeranz, Co-Head of Global Fintech & Financial Services Practices at True Search. Both firms work at the sharp end of executive hiring, shaping the future leadership teams of the world's most powerful financial institutions. What emerged from our conversations was clear: tomorrow's financial services leaders must be equal parts operator, technologist, and change agent. Roopa Foley, Global Co-Head of Financial Services at Egon Zehnder. 'The pace of innovation is faster than what we've ever seen,' Foley explained. That innovation, she added, is increasingly driven by AI, data science, and cybersecurity, but the talent market hasn't kept up. What banks want and what's available are often misaligned. Pomeranz echoed that sentiment. 'There's a cultural divergence,' he said. 'For years, big banks wanted to hire from the Googles and Amazons of the world. But they quickly discovered that dropping someone from a high-growth tech culture into a risk-averse, regulated institution creates friction.' The result? A more nuanced approach to hiring. 'Now it's about finding someone who's ahead of you on the transformation journey, but not so far ahead that there's organ rejection,' Pomeranz explained. In practice, that often means targeting leaders from fintechs, insurtechs, or even highly regulated sectors like healthcare. Jonathan Pomeranz, Head of Global Fintech & Financial Services Practices at True Search. If the old priority was revenue, the new priority is resilience. 'There's a spike in risk and compliance roles designed to manage internal AI use and guard against AI-driven financial crime,' Pomeranz said. Foley confirmed that sentiment, identifying risk, regulatory, and compliance functions as the hottest hiring areas today, particularly at the intersection with technology. Legacy banks, she noted, are trying to embed compliance earlier in customer processes rather than bolt it on after the fact. But that requires tech-savvy compliance leaders, and in institutions built on outdated systems, the talent lift is significant. AI only compounds the challenge. 'We're starting to see Chief AI Officers and Heads of AI in risk and compliance,' Foley said. 'Boards are asking: where does this role sit? How do we govern it?' In other words, AI isn't just a technology issue, it's a governance one. Interestingly, the technical skillset is no longer the primary differentiator. "In a space as dynamic as fintech, long-term leadership success depends on more than just domain expertise,' Pomeranz said. 'We're looking at how a candidate leads through complexity, how they've built followership, adapted their style as teams evolved, and shown up when things got tough.' 'We're seeing a greater focus on how leaders lead,' said Foley. 'It's not just about what you've done, it's about how you did it'. She outlined four dimensions that Egon Zehnder applies to evaluate potential in candidates: According to Pomeranz and Foley, behavioral interviews have become a core part of candidate assessments. 'We're not just asking if you increased revenue, we're asking how you brought your team along and responded to challenges,' Foley said. Pomeranz explained how it's important to look at the full picture before selecting a new leader 'Culture is best candidates are the ones who understand where a firm is today and can meet it there, then help push it forward without breaking things.' True takes it one step further to ensure a seamless transition. 'We also assess how they'll complement the existing team, then pair them with a coach to help sharpen their soft skills and navigate the fast-moving shifts that come with the territory,' Pomeranz said. Both Foley and Pomeranz warned against unrealistic expectations in hiring. 'There's no such thing as the perfect candidate,' said Foley. 'The important thing is understanding your must-haves. Is it continuity of culture? A turnaround mandate? Innovation at all costs? You can't have it all.' Pomeranz put it more bluntly: 'Leaders with both deep tech and scaled financial services experience are unicorns. Most firms need to decide which leg to stand on, and what they're willing to compromise.' For example, some clients begin a CEO search convinced they want a tech outsider, only to end up hiring someone from fintech with just enough institutional fluency. 'They thought they wanted Netflix, but they needed someone who could also talk to regulators,' Foley explained. Perhaps the most surprising trend is where new leaders are coming from. Pomeranz noted a shift toward 'step-up' CEOs, candidates moving from Chief Revenue Officer or General Manager roles into the top job. 'The historic path was linear: COO or CFO to CEO. Now we're seeing CROs and even product or tech leads move into the CEO role,' he said. The unifying factor is not title, but breadth: P&L ownership, cross-functional exposure, and the ability to lead through complexity. This democratization of leadership opens the door for diverse candidates, especially those who bring a fresh lens to outdated business models. But, as both headhunters emphasized, leadership and adaptability remain the price of entry. AI is quickly becoming embedded across job specs, even when not explicitly stated. 'Every hire now has some element of digital transformation or AI embedded in it,' said Pomeranz. 'Even if the role is not technical, leaders need to understand how AI changes the game.' Still, AI maturity varies dramatically between firms. Some are running proof-of-concept pilots. Others are standing up entire operating models. That divergence affects who they hire, how they organize, and what they can realistically implement. One area with immediate traction is internal AI governance. 'We're seeing roles created specifically to oversee AI usage internally, particularly in compliance and fraud prevention,' said Pomeranz. So what makes a candidate successful in today's financial services world? 'You don't get a pass on the so-called 'soft' leadership skills just because you're from tech,' Foley cautioned. 'You need to be adaptable, a great communicator, and resilient in the face of change.' Pomeranz agreed. 'The people who succeed are those who don't bulldoze their ideas through. They understand politics. They build relationships. They know how to get things done in complex environments.' For candidates coming from tech, that often means tempering pace with patience. 'Your roadmap will take longer, and your changes will face scrutiny,' said Foley. 'But if you can navigate that, the opportunity to create impact is enormous.' Ultimately, both leaders stressed the importance of aligning candidates with a compelling mission. 'The top talent today isn't job hunting,' Pomeranz said. 'They're mission hunting. They want to know what you stand for, what problem they're solving, and how they'll make an impact.' That's both a challenge and an opportunity for financial institutions. In an era of heightened expectations, by regulators, shareholders, and society at large, banks and fintechs must offer more than just a paycheck. They must offer purpose. And for the right candidate, that might just be the most compelling offer of all. For more like this on Forbes, check out Structural Talent Mismatch Cripples The Financial Services Industry and As Warren Buffett Steps Down, What's Next For Financial Leadership?.
India Today
15-05-2025
- Business
- India Today
YES Bank shares jump 21% in 5 days. What investors need to know
YES Bank shares have seen a strong rally over the past few days, rising more than 21% in just five trading sessions. On Thursday, the stock extended its gains after global rating agency Moody's called the proposed 20% stake acquisition by Japan's Sumitomo Mitsui Banking Corporation (SMBC) a "credit positive" THIS DEAL MATTERSAccording to Moody's, the entry of SMBC brings YES Bank a long-term partner with solid financial strength and deep pockets. This can help support the bank's growth in the a part of the Sumitomo Mitsui Financial Group (SMFG), plans to buy the 20% stake from State Bank of India (SBI) and seven private banks, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IDFC First Bank, Federal Bank, and Bandhan Bank. These banks had invested in YES Bank during its crisis period in March 2020. SMBC will buy the shares at Rs 21.50 each, paying a total of Rs 13,482 CHANGES AND APPROVALSAs part of the agreement, SMBC can nominate two non-executive directors to YES Bank's board to help guide its strategy and governance. Also, SBI, will now be able to appoint just one non-executive, non-independent director, though the organisation presently has the right for deal still needs the green light from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI). Although foreign ownership in Indian banks is usually capped at 15%, the RBI has made exceptions in special cases like HAPPENING WITH YES BANK 'S SHARE PRICE?advertisementOn Wednesday, YES Bank's share price rose by 2.65% to Rs 21.52, taking its market value close to Rs 68,000 crore. The stock had closed at Rs 20.96 the previous day and has been on a steady rise since the SMBC deal was a report by MoneyControl said that YES Bank has started the search for a new CEO. The board has hired global recruitment firm Egon Zehnder to help with the despite the upbeat mood in the market, not all analysts are impressed. Some believe the stake sale is a positive sign, but it doesn't fix the deeper issues YES Bank is facing.A report by Kotak Institutional Equities said that while the buyer is strong, there's no clear change in the bank's business model. The brokerage kept a 'sell' rating on the stock and gave it a target price of Rs Watch
Yahoo
02-05-2025
- Business
- Yahoo
Heidrick & Struggles Appoints a New Managing Partner for Their CEO & Board Practice in Europe and Africa
Kati Najipoor-Smith brings decades of cross-sector global experience to help boards and CEOs provide great leadership at the top at a crucial and complex time LONDON, May 02, 2025--(BUSINESS WIRE)--Heidrick & Struggles (Nasdaq: HSII), a premier provider of executive search, global leadership advisory and on-demand talent solutions, has appointed Kati Najipoor-Smith as Regional Co-Managing Partner, CEO & Board Practice, for Europe and Africa. Based at the Firm's office in Frankfurt, Germany, Kati brings decades of global executive search and consulting experience to the Heidrick & Struggles team to support boards and CEOs in navigating complex leadership challenges. Kati began her executive search career at Egon Zehnder in 1999, where she led Global Automotive and later the Global CEO Practice over several years. She advises chairs and CEOs of publicly traded, family-owned, and private-equity-backed companies across sectors and regions, focusing on building effective and strong boards and senior leadership teams. With a global network and extensive experience in CEO transitions, including many visible placements, Kati collaborates closely with boards to ensure robust, objective, and confidential succession processes, including the development of future CEOs. Speaking about her appointment with Heidrick & Struggles, Kati Najipoor-Smith said: "In this era of unprecedented uncertainty and complexity, business leaders are under immense pressure and the quality of leadership – at both board and C-Suite levels – is being tested like never before. With that in mind, I am excited to join Heidrick & Struggles and to work alongside a highly qualified and diverse consulting team, combining human-centric insight with fact-based, analytical rigour to support our clients' most critical leadership decisions." Jenni Hibbert, Heidrick & Struggles' Global Managing Partner Go-To-Market and Regional Leader, Europe & Africa, added: "We are very pleased to welcome Kati to Heidrick & Struggles, where I look forward to working with her as she brings her unique talent and experience to bear to make a meaningful impact on our clients across the region." Kati spent several years in management consultancies including Roland Berger and at FEV Group, a leading engineering services firm. She holds a PhD in mechanical engineering from the University of Aachen in Germany, an MSc in mechanical engineering from the University of California, and a BSc in mechanical engineering from the University of Portland. Kati is a frequent speaker and panel guest on leadership topics and is often invited to provide global perspectives on leadership. She also co-founded a private network of senior female executives 10 years ago to support female leaders' advancement. About Heidrick & Struggles Heidrick & Struggles (Nasdaq: HSII) is the world's foremost advisor on executive leadership, driving superior client performance through premier human capital leadership advisory services. For more than 70 years, we've delivered value for our clients by leveraging unrivaled expertise to help organizations discover and enable outstanding leaders and teams. Learn more at View source version on Contacts Media inquiries: Heidrick@
