Management Recruitment

pexels-olly
Trevor Parker

Recruiting a Managing Director for an Online Insurance Brokerage

/
Posted On

Our client, a niche online insurance broker of modest size, required a sales-oriented Managing Director (MD) to replace the incumbent MD. This scenario presented several specific challenges:

1. Confidentiality: Maintaining confidentiality was paramount since the existing MD was still in place. This necessitated discreet handling of communications, even with internal staff at our client’s organisation.
2. Regulatory Environment: The insurance sector’s regulatory compliance is critical, yet balancing this with the need to generate income and ensure profitability was essential. Thus, finding a candidate with the right blend of regulatory acumen and commercial drive was vital.
3. Small Business Dynamics: While the current business was modest, it was under private equity (PE) ownership, presenting significant growth potential. The new MD needed to be adept at navigating the intricacies of a small business poised for expansion under PE guidance.

Solution

Our approach was methodical and strategic, beginning with the creation of a M.O.S.T. (Mission, Objectives, Strategy, Tasks) format role profile. This comprehensive profile served as the foundation for identifying the ideal candidate.

We then conducted a targeted search to identify candidates who demonstrated the following:

• Strong regulatory discipline, ensuring compliance without compromising commercial goals.
• Experience in small business environments, with a proven track record of fostering growth.
• Leadership in sales and marketing within the financial services sector, essential for driving business development and profitability.

Outcome

Understanding the appeal of joining a team with substantial growth prospects under PE ownership, we emphasised the potential rewards of such an opportunity. Within four weeks, we successfully secured an experienced Sales and Marketing Director from a financial services background. This candidate was not only ready to step up to the role of MD but also excited about contributing to the business’s growth trajectory.

By meticulously balancing confidentiality, regulatory requirements, and the unique dynamics of a small, PE-backed business, we were able to identify and recruit a candidate who met all critical criteria, ensuring our client’s continued success and growth.