HARRISON, STONE & ASSOCIATES, INC. Executive Search Consultants

Transcription

1 HARRISON, STONE & ASSOCIATES, INC. Executive Search Consultants HUMAN CAPITAL CONSULTANTS 666 Fifth Avenue Suite 342 New York, New York (212) Contact:

2 The Firm Our mission to be the premier executive search firm serving the financial services community. At Harrison, Stone & Associates, we value our relationships on both sides of the hiring equation. We treat clients and candidates with the utmost respect and professionalism, while adhering to the highest ethical standards built over 25 years in professional recruitment and organization consulting. We help companies build superior functional teams teams that enable profitability and create a sustainable competitive edge. While products and services can yield short-term success, long-term performance is a direct result of leaders who excel. We help companies compete more effectively in this global market by partnering with them to recruit their most valuable asset: their human capital. We are industry specialists who focus on the financial services sector. Our specialization gives us the insight to understand the business, and what skills and accomplishments are necessary to achieve success. Harrison, Stone & Associates is a boutique firm. Clients can expect the benefit of customized searches, a consultative and collaborative approach, personal attention and proven business process. Because we seek to build and nurture long-term business relationships, our clients receive regular communications and are constantly aware of the search projects progress. We welcome the opportunity to serve your hiring needs. Please call us to schedule a meeting.

3 Welcome A message from Robert H. Pestreich, Managing Director: To win the war for talent waged at the heart of the financial services industry, it helps to have strategic allies who can help you build and maintain your team. The search professionals at Harrison, Stone & Associates give you the advantage of speed, efficiency, knowledge, experience and focus. We give you the ability to interview outstanding executives and professionals working in the financial services industry and most important hire them. We re specialists. As a result, we re experts. We have the experience and credibility to sift through multi-layered organizations and pinpoint candidates. We truly understand the industry. We speak your language, communicate effectively and establish the type of rapport that will result in a successful outcome for everyone concerned. We re discreet. Operating as we do, at the highest levels of world-renowned financial organizations, we maintain the highest level of confidentiality. We complete every search assignment with the utmost discretion, and provide seamless integration with you and your staff for a smooth, efficient transition. Please review our qualifications as they are described here on our web site. To arrange an engagement, please call Robert H. Pestreich, Managing Director, at (212) or send an message to him at rp@harrisonstone.com.

4 Benefits & Results When a company is missing a key person, searching to fill a new job, or planning to expand it s staff to build its business it may face a serious challenge. Every day may prove to be costly. Costly in terms of lost productivity. Costly in terms of lost market share. Both impact the bottom line. Our organization addresses those challenges. Dozens of firms in the financial services industry have called us and used our services to move quickly and effectively. For example: A global ratings agency wanted to get into a new line of business. It didn t have people with the expertise required to staff the new business unit. Harrison, Stone & Associates located the specialists who were needed, helped the company recruit them and assembled the team needed to implement the business plan in less than two months. A first tier investment bank lost one of its top performers in a critical business line. The void caused daily profit losses. Harrison, Stone & Associates was retained and successfully filled the position in three weeks. A prominent insurance company needed someone to analyze its investment risk exposure on a company-wide basis. In less than a month, Harrison, Stone & Associates found and recruited a financial modeling specialist who was able to provide detailed analysis based on geography, industry sectors and type of investment. A medium-sized investment company wanted to retain a talented individual from an academic institution who was identified by Harrison, Stone & Associates. But the candidate rejected an initial offer. Our professionals followed up, met with the candidate at length and resolved her concerns. She joined the firm. The Benefits of Our Service Saves you time Helps you maintain your personal focus Moves projects forward quickly Establishes superior market position Maximizes productivity

5 Custom Approach We handle each search engagement as an individual market research project. We start by developing a clear understanding of your needs, your organization and its corporate culture. We discuss the hierarchy of your organization, the scope of authority for the position we are filling and your vision of the position in the future. Our goal, always, is to be sure the candidates we select will fit into your organization, be immediately productive and remain highly productive far into the future. To select candidates, our researchers and recruiters conduct a thorough market analysis. We identify and recruit the best candidates not simply the most available. We know how to navigate organizational labyrinths to reach specialists. Our research includes cross-industry evaluations, to assess other sources of talent that parallel the requirements of the position. The breadth and depth of our market research and our extensive knowledge of the marketplace gives you the confidence you deserve to be sure you are making an excellent hiring decision.

6 Mission & Resources Our Mission: To help define the type of background and experience to suit your hiring needs. To provide the best selection of candidates. To maximize the probability that your offer will be accepted. Our Resources: \ An in-depth understanding of the principles governing executive search. The know-how to apply these principles to your organization. An intimate knowledge of the employment market within the financial services industry. The experience and expertise required to evaluate candidates for the industry. The communication skills, insight and understanding required to know how to address concerns and present an career opportunity most effectively. Demonstrated experience in helping companies build human capital structure.

7 Unique Competencies Harrison, Stone & Associates, Inc. is an executive search firm with over 25 years of experience serving the financial services industry. Our primary areas of concentration are Investment Research Analysts, Portfolio Managers, Product and Marketing Strategists, Risk Managers, Strategic Planners, and Investment Bankers. Our clients range in size from small, elite financial services boutiques to first tier, global organizations. They include: Investment Management Firms Investment Banks Global Banks Rating Agencies Insurance Companies

8 Working Methodology Our success in helping you meet the challenge of recruiting superbly qualified professionals and managers is a reflection of our organization s focus. We take the time and interest to truly understand your needs. We conduct comprehensive searches to find exactly the right candidate. We bridge any communication gaps that arise. The result? An exciting new opportunity that truly satisfies all the people involved. Here are the key elements of our success: Size. We work very closely with a select group of clients in a variety of narrow segments in the financial services industry. We don t subordinate your needs to our business model by being too restricted in our outreach. We maintain our focus, however, concentrating on a tight range of job specialties within the financial services industry. Personal commitment and staff continuity. Our consultants handle each step of the search process personally. The consultant you retain to conduct the search will work with you on the successful recruitment from sharpening your job description and defining the ideal candidate to successfully negotiating the final details of a mutually beneficial employment agreement. Market intelligence. We have access to the most accomplished and successful candidates. This is the result of years of research, gigabytes of data we ve compiled and thousands of personal relationships we ve built and maintained with key people throughout the financial services industry. Custom service. The firm s approach to every assignment is highly consultative. First, we make sure we truly understand your needs. Then we reach out to find a large number of suitable candidates and begin narrowing your choice down to the most desirable few. We are not satisfied until we identify and recruit the best person for your business needs. Ethics. We adhere to strict ethical standards and assure complete confidentiality for our clients and our candidates.

9 Who We Are Harrison, Stone & Associates builds teams that build businesses. We seek top performers and high achievers in their respective specializations. We know top talent and have access to them. We speak to our target audience every day. We engage with the industry and that provides upto-date market information. Result? A distinct advantage when you are making hiring decisions Client Services Our search professionals give you the advantage of speed, efficiency, knowledge & experience. Our focus: Investment Research, Portfolio Management, Strategic Planning, Risk Management & Investment Banking. We are more then a recruiting firm, providing advisory services on Compensation Studies, Employee Leasing, Leadership Development, Organization Development, Team Lift-outs, and Recruitment Process Outsourcing.

10 Why Us Harrison, Stone & Associates offers industry expertise acquired by working with the most prestigious companies in the world. Our partners: Global, Regional and Boutique Banks; Private Equity Firms, Investment Management Companies, Hedge Funds, Insurance Companies and Rating Agencies. We have helped them attract top professionals. How do we achieve these results? Through our understanding of their business and the financial services marketplace. We can help your organization achieve similar results! Please contact us for a confidential meeting.

11 Executive Search Functional Specialties For over twenty-five years, Harrison, Stone & Associates has been providing clients with Human Capital Solutions to assist them in growing their business with top recruited talent. We help companies build successful teams. Investment Banking The dynamic business of Investment Banking requires professionals with in-depth industry knowledge and strong technical, analytical, presentation and people skills. Our expertise includes: Corporate Finance Leverage Finance Infrastucture Finance Mergers & Acquisitions Restructuring Advisory Municipal Finance

12 Investment Research Investment research is critical to the investment management and investment banking businesses. The competition for research talent is stronger than ever. At investment banks, research analysts collaborate in generating and fostering client relationships. They carry out in-depth industry, corporate, and value analysis in order to recommend a definitive course of action buy/hold/sell. Research analysts have become marketers of the products and ideas they create. At investment management companies, the research department is the knowledge base that provides critical support for investment decisions; carefully considered decisions that provide the only intelligent basis for profitable pursuit of investment activities. Harrison, Stone & Associates, using its extensive database, its research team, and its extensive network of personal relationships, helps its clients move with swift certainty to identify and hire the most qualified research professionals and executives.

13 Portfolio Management The tough, competitive investment management industry is increasingly global. This international expansion, combined with the explosion of investment opportunities in new technology and the demands of more sophisticated investors, have combined to create an unprecedented demand for professionals with comprehensive knowledge. Additionally, the successful portfolio manager needs a rich understanding of human psychology, a strong appreciation of financial theory, a deep awareness of history, and a broad exposure to current events to help develop well-informed portfolio strategies. These people are hard to find and attract. Harrison, Stone & Associates, using its proven methodology, has a track record for locating ideal candidates. And more. We help you transform a great candidate into a new, high performing employee.

14 Risk Management Risk is inherent in the financial services businesses and activities. The extent to which a company properly and effectively identifies, assesses, monitors and manages the various types of risk involved in its activities is crucial to its soundness and profitability. The development and implementation of comprehensive policies and procedures to identify, mitigate, and monitor risk has become an imperative in many organizations. Effective risk management requires the services of specialists: people with communication skills, sound judgment, and knowledge of the products and markets that require oversight. Harrison, Stone & Associates has helped its clients hire excellent people from staff specialists to senior managers who implement contemporary risk management practices to address market risk, credit risk, liquidity risk, portfolio risk and operating risk.

15 Strategic Planning Growth and efficiency is the goal of every company and in order to achieve this growth it is critical to have the right strategists in place. These are individuals that come from top consulting firms, Investment Banks, and internal strategy groups of your competition. We have market expertise in helping you hire professionals who can answer questions like: How do we position our organization for future growth? How can we compete more effectively in our industry? How do we maximize our current growth potential? What are the natural extensions of our current products or markets? We can identify professionals with expertise in: Corporate Strategy Business Strategy Market Segmentation Revenue Growth & Value Proposition Acquisition Analysis and Integration Performance Measurement & Improvement Strategic Marketing E-commerce Cost Management Organizational Design & Business Transformation Product Development, Management & Pricing Economic Valuation Analysis Risk Modeling

16 Sectors Banking :: Hedge Funds :: Private Equity :: Insurance :: Rating Agencies :: Investment Management

17 CONTINGENCY FIRMS VERSUS RETAINER FIRMS Frequently asked questions about executive search often result from a lack of understanding of the two major types of practitioners in our industry. Here is a factual guide for your information. CONTINGENCY FIRMS RETAINER FIRMS 1. Frequently represent individuals seeking placement. 1. Represent Companies employer only. 2. Are usually in competition with other similar firms or agencies for the placement. 2. Conduct search assignments on an exclusive contract basis only. 3. Professional staff is usually compensated on commission for placements made. 3. Professional staff is usually compensated on salary and bonus with incentives for client business development. 4. Usually search for lower level organizational positions including but not restricted to individual contributors. 4. Usually work at middle to senior management organizational levels. 5. Tend to spend little time on initial research and specification; often never meet company management or prospects. 5. Must know client organization and position responsibility/requirements thoroughly before initiating search. Typically document this in a position description. 6. Focus primarily on applicants/candidates actively seeking employment; recruiting is placement-oriented. 6. Recruiting efforts are strategically focused on a broadly targeted range of potential candidates, most of whom are not active in the job market; recruiting is process and result oriented.

18 7. Search consultant works concurrently with a multitude of open job orders. 7. Typically the search consultant is personally committed to 3-5 assignments at any given time and is responsible for the success or failure of each. 8. With no guarantee of payment for services performed, the consultant cannot afford to invest much time in a search beyond basic recruiting and submission of resumes. 8. Search consultant typically invests hours per month per client assignment in recruiting, evaluation, screening and client interaction. 9. Will present most candidates within 1-2 weeks of obtaining job order; may submit substantial paperwork to increase probability of a placement by pushing for interviews and hoping for interest on both sides. 9. Usually recommends 3-10 highly qualified and ranked candidates to client company in 4-8 weeks. 10. Contingency search requires considerable Human Resource involvement in screening, interviewing and evaluating candidates presented. 10. Requires minimal Human Resources and General Management time investment until interview process begins. 11. Under no obligation to guarantee or produce results due to contingency fee arrangement (paid on placement only). 11. Reputable firms offer a professional guarantee of candidate success and are committed to thorough and ethical practices and results including an off limits policy. 12. Fees range from 15-33% of compensation and are paid by company on placement (or shortly there after). 12. Fees range from 25-33% of compensation (or flat quote) plus expenses and are paid by company in installments. 13. Decision to pay a fee is usually made by Human Resources and is budgetary motivated. 13. Authorization for search is usually made by company General Management and Human Resources Management with rigorous selection criteria. COMPARING EXECUTIVE SEARCH FIRMS (adapted from ERN 11/85)

19 Compensation Studies We have an extensive database of intelligence including compensation data, benefits and employment practices information. Our databases cover numerous organizations, ensuring we can support a breadth of data points. Our extensive network of researchers ensure that every study reflects its proper level within the organization hierarchy and supports your data interpretation and subsequent action plans. Our rigorous data processes, coupled with the depth of our databases, guarantee the delivery of highquality, robust data and consistent reporting practices. In addition to compensation surveys, we publish reference materials that help HR practitioners attract, retain and reward exceptional employees. We also provide tools to help compensation and benefit managers analyze market data efficiently and conduct in-depth analysis to aid future program planning. The Financial Services Compensation Surveys are the leading total rewards/total compensation studies in providing insights into competitive employee plans. Built on over 25 years of experience from serving the data and consulting needs of the industry, our Financial Services Compensation Studies provide consistent content and formats providing Client Companies with a common way to analyze data. The following financial services sector studies are available: Business and Commercial Banking Capital Markets Financial Leasing Fund Management Global Transaction Services Insurance (Life, General, Reinsurance) Investment Banking Private Banking Private Equity Retail Banking Securities, Futures, Trust

20 Compensation Studies Continued Data can be custom designed to include the following: Overview of Economic, Business and HR Environment Compensation and Benefit Trends Analysis Salary Movement Variable Pay Analysis and Pay mix Staff Turnover Rates Starting Salaries for Graduates Annual Base Salary Fixed Bonus and Allowances Actual and Target Annual Variable Compensation Total Cash Compensation Total Direct Cash Compensation (Total Cash Compensation + Long Term Incentive Total Rewards (Total Cash Compensation + Value of Benefits) Salary Increase and Salary Review Practices Fixed Bonuses Variable Pay policies (variable bonus, performance incentives and sales commission) Long-Term Incentives (LTI) Cash Allowances Company Car Benefits Other Perquisites (housing, club membership, mobile phone) Training/Professional Development Business Travels Company Loans and Subsidies Employer Sponsored Retirement Plan Life and Accident Insurance

21 Employee Leasing Professional Employer Organizations (PEO) Employee Leasing Solutions brings a proven and cost-effective approach to help our clients handle the day-to-day business of having employees. For periods of economic uncertainty, limited duration projects, or headcount freezes, we can provide the human capital necessary to keep the business moving forward. By using Harrison, Stone & Associates, clients do not have any liability for employee-related responsibilities, such as workers comp claims, tax deposits or unemployment claims. Clients write one check to cover all labor costs for the paycheck a great time and money saver. While Harrison, Stone & Associates handles the business of having employees, our clients are free to focus on things that can make them money.

22 Leadership Development Our Leadership Development is composed of hands-on workshops and coaching designed to help managers, supervisors, group leaders, and organizations meet the challenges of a rapidly changing business and global workplace. We design custom workshops and coaching strategies to concentrate on critical performance requirements of today s leaders, providing and developing the wide range of knowledge, insights, and skills they need. Taken in its entirety, the training and coaching will help participants make the exhilarating transition to the management team through knowledge, skill development, workplace application, and opportunities for self- and organizational assessment. We will help leaders develop the ability to: Motivate the team Engage the workforce Develop innovative solutions to business challenges Inspire others to achieve new levels of performance Become a vital part of the business effectiveness and success

23 Organization Development Organization Development Consulting Organization Development (OD) is the practice of helping organizations solve problems and reach their goals. A key emphasis in OD is assisting clients not just in meeting their goal but with learning new problem-solving skills they can use in the future. OD consultants contract with clients to offer a range of services, including: Change Management working with departments, to help them plan and implement significant changes in their organizations such as work reorganization or moves and space changes. Change management is a set of ideas, strategies, and skills that can be applied to engage change effectively. We help in planning for change, implementing change and supporting continuous improvement following change. Group Problem Solving helping a group identify a key issue, gather information about it, and outline decisions or action plans needed to address the issue. Talent Management - helping managers assess their department s workforce so that the right people are in the right roles with the right set of skills at the right time. As a department manager and leader, there are various talent management strategies you can use to promote development in the workplace. These strategies include: Retaining and developing the workforce; Learning and development strategies and talent management and workforce planning. Meeting Design & Facilitation working with clients to help them plan an agenda, stay with the agenda, and discuss issues effectively. Have you ever been to a meeting where no one seemed to be in charge? Or a meeting where there was no clear reason to meet or no agenda? If you have, you know it can be frustrating. Meeting design is a field that identifies techniques and methods that help meetings run smoothly. One of those techniques is the role of a facilitator a person who leads the meeting process. Team Development helping a team to develop its ability to work more effectively together. Teams share a commitment to a common purpose, mission and goals and work in an environment of mutual accountability. Successful teams develop effective group process, using ground rules and norms to promote effective interpersonal communication. Business Process Redesign working with a group to analyze the current way of doing a specific piece of work to determine whether there is a better way to design how the work gets done. Customized Training working with a group to develop or renew knowledge, skill or values relative to a group goal.

24 Recruitment Process Outsourcing Recruitment Process Outsourcing (RPO) provides business process outsourcing where an employer outsources or transfers all or part of its recruitment activities to an external provider. An RPO provider essentially functions as an internal recruiting operation, working with the client s existing human resources structure to create and manage a hiring model from start-tofinish. An RPO firm should be a true partner that can be trusted to represent the interests of its client and add value to the recruitment process. Harrison, Stone & Associates acts as a natural extension of our recruiting services. We offer a flexible and scalable outsourced solution on an on-going or project basis for volume direct hireneeds. We can support everything from large-scale hiring projects to mid-sized technical assignments. Our capabilities include support in the following areas: Recruitment Advertising Candidate Sourcing and Recruiting Resume Screening Creation and Administration of Assessments Candidate Interviewing On-site Interview Coordination Background Checks Offer Management Statistical Reporting Choosing to outsource your recruitment process will save your company money and improve your overall candidate hiring process. If done right, recruitment process outsourcing can have a lasting impact on your organization. Companies that use RPO have realized they can reduce hiring costs, improve recruiting processes and deliver a competitive edge. Effective RPO solutions scale to your business needs, provide access to expertise in filling hardto-fill positions, respond to fluctuating hiring volumes and deliver a better candidate experience. With recruitment process outsourcing, recruiting is no longer a fixed cost, but a flexible operating expense that enables you to scale up or down as your business needs dictate.