News & Insights

The FCA Consolidator Review || A Turning Point for Private Equity in Wealth Management

Tue, 11 Feb 2025 15:12:54 Z

Adapting to the FCA’s New Reality

The FCA's review of wealth management consolidators is set to reshape the industry, increasing regulatory scrutiny, governance expectations, and financial resilience requirements for PE-backed firms. Amrop helps businesses navigate these evolving challenges by identifying and developing leadership teams that can effectively manage risk, compliance, and strategic growth in an increasingly regulated market.

Displacing the silverback in the FinTech C-Suite

Thu, 06 Oct 2022 09:55:00 Z

In the UK, women only make up 30% of the workforce in the fintech sector, with only 12% of founders and co-founders being women.

David Bell reflects on the role that traditional characteristics usually found within the male-dominated C-Suite play in this, and suggests the way forward is not to force people into this mould but recognise talent in all its forms.

Big Shifts in the Data Analytics & AI Sector

Thu, 15 Sep 2022 15:24:46 Z

Amrop’s Digital Practice Team has deep technology and digital knowledge, combining functional and sector experience. We leverage our own digital tools and systems to offer a robust sector focused approach, where the Practice Team members form powerful sub-groups based on their in-depth expertise in various digital sub-sectors.

We invited David Bell, Digital & Technology Partner at Amrop UK and a member of the AI, ML and Data Analytics sub-sector, to share his insights on the advances and convergence the industry is experiencing and the shifts in the style of working it requires from both data analysts and CIOs. Here's what he said:

Is disruptive thinking the key to solving the ‘Pale, Male & Stale’ boardroom challenge?

Fri, 01 Jul 2022 04:00:00 Z

Efforts to improve diversity within the corporate world have been ongoing for several years. While some progress has been made, figures show that, at the executive level, businesses still have a long way to go.

Globally, only around a third of CEOs are women. A recent survey of FTSE 100 companies, carried out by Green Park, found that only 11 top roles were filled by people of colour, while none were filled by openly LGBTQ+ individuals.

Ironically, this lack of diversity even extends to Inclusion and Diversity (I&D) departments themselves. The same report found that just 29% of I&D-focused roles were held by people of colour. While there is broad agreement that this issue does need to be tackled, current business practices do not appear to be capable of coming up with solutions.

The business case for embracing diverse leadership has never been stronger. According to the intelligence firm McKinsey, the (relatively few) companies with diverse leadership are more likely to outperform their industry peers.

Yet the conversations around diversity at the executive level can become frustratingly circular. It is easy to pay lip service to the idea, but to enact true change, company leadership must challenge the way they currently do things.

A lack of disruptive thinking means attitudes towards the ‘pale, male, and stale’ problem can become entrenched. Many employers hire in their own image, and this is no different for C-suite roles.

It can be difficult for executives to examine these unconscious biases and historical structures which they may have benefitted from. Equalising these power structures which have, in some cases, been in place for centuries is a society-wide issue, but it is one that requires business leaders to challenge themselves.

These challenges can sometimes prove to be uncomfortable, but they are required if a company is to reach its potential in today’s global marketplace. The future is in equity, not equality.

Equity vs Equality

Equity is all about ensuring each individual is provided for according to their needs. This differs from equality, which is all about treating every individual the same regardless of their background.

While equality should be the long-term goal, businesses must work now to address the disparity in outcomes experienced by women and minority groups. Equity is the only way businesses can eventually achieve equality.

Forcing oneself to think disruptively is often difficult. Many companies pride themselves on their culture and naturally want a leadership team that aligns with and upholds that culture. However, what business leaders should do is consider how diverse backgrounds and approaches can add to this culture, making it healthier for the whole workforce as a result.

If a company was struggling, it would naturally explore every avenue it could to succeed. They would be more open to new perspectives and disruptive ideas. This raises the question: why don’t they embrace this mindset anyway?

The most successful businesses behave as if they are struggling by constantly challenging and never allowing themselves to become too comfortable. This has to apply to the executive level, too.

By root-and-branch overhauling recruitment strategies to attract qualified individuals from diverse backgrounds, those in the C-suite give themselves the best chance of success. And because diversity, equity, and inclusion must be pervasive changes, they must be initiated from the top.

A blueprint for change

Any disruptive strategy must be carefully planned. The myth about disruptive ideas is that they arrive in lightbulb moments – revolutionary bursts of innovation. In truth, disruptive ideas do not necessarily need to be innovative at all and, in fact, are as much about tearing down old archetypes to build something better.

This requires a plan – you cannot rebuild a house without a blueprint. There is no one-size-fits-all approach to this, so each business must work out how to overcome these challenges themselves, or with the help of a partner such as Amrop’s Diversity Journey Program.

Disruptive thinking is not easy – if it was, everyone would be doing it.

However, when it comes to addressing deep-rooted systemic issues such as the ‘pale, male, and stale’ effect, there is no alternative. Simply having the conversations about diversity, while useful, mean nothing if actual progress is limited.

Such a pervasive cultural change in an organisation needs to come from the top – the time is now for business leaders to challenge themselves and to reap the rewards of diverse, inclusive leadership.

For more information on Amrop UK, please visit www.amrop.co.uk

Mind the gap | What’s next for financial services attraction and retention?

Fri, 20 May 2022 11:22:48 Z

The financial services sector has suffered from a skills gap for some time with digitalisation playing a fundamental role. Estimates¹suggest that the pandemic has accelerated the process of digitalisation by five years – and competition for talent is only going to intensify.

Having the relevant technical knowledge and experience is fundamental to many job roles across sectors - and in the financial services sector, this is vital.

Megatrend predictions²for the sector suggest that there will be significant upward trends in technical and digital growth, which we have already seen as a result of the pandemic, and the adoption of a future-based skills set will be necessary.

The financial services sector will undoubtedly increase its reliance on highly skilled talent at a time when automation and Artificial Intelligence (AI) are modernising services and driving the demand for specific skills as a result.

But where does this leave financial services companies struggling to fill these gaps?

The skills necessary to drive growth

The future of the financial services sector is reliant on the talent and skills of its workforce, but more importantly, those in leadership roles.

The sector has always had strong competition from fintech and traditional tech companies, meaning that many entry-level candidates and those who are in the early stages of their career that have the required expertise and more diverse technology experience are opting to work for companies such as Google, Amazon, and Apple.

This heightened competition for recruitment, also known as the war for talent, has seen a shift in what financial services companies would usually consider to be their competition.

Pressure to keep up with the acceleration of digital adoption places those at a senior level in a vital position as they may not have the skills necessary to keep up with increased digitalisation.

A survey of 80 leaders³across the financial services sector found that 80% of interviewees mentioned data and technology as skills that required urgent attention in the boardroom and across the organisation.

These skills are divided into two dimensions.

First, technology skills and knowledge can be utilised by senior leaders to understand the wider developments in the world that drive customer expectations and reshape the competitive landscape in the sector. Secondly, in such a data-rich industry, being tech-capable is necessary to handle and analyse the data that is integral to decision-making.

How can financial services companies compete?

Job openings in banking have tripled⁴in the last year and financial services companies are beginning to recognise the necessity of assessing their current recruitment and retention strategies for leadership and senior roles.

Much emphasis is continually placed on increasing salaries as a way to attract and retain the best talent, despite the fact that salary is no longer the sole deciding factor for top talent anymore.

First, financial services companies should consider the current scope of their talent pool. Many companies will be narrowing down their talent pool due to a lack of diversity in their recruitment initiatives. A homogenous workforce does not benefit the sector at a time when it requires innovation and consistency, which is even more necessary for leadership roles than mid-level roles – senior staff will give a company the ability to be flexible to the new opportunities arising from digitalisation.

The most successful organisations will embrace diversity and inclusion in their recruitment strategy and benefit from an 83% uplift⁵in their ability to innovate, higher responsiveness to changing customer needs, and greater team collaboration.

Secondly, companies should consider which specific skills and competencies will help to execute their mission and business model, leaning towards a more future-oriented approach that is sustainable, rather than casting the net too wide.

And finally, the shift towards a multi-generational workforce requires a firm focus not just on inclusive workplace cultures, but also on the productivity and wellbeing of all staff, which is something that prospective senior leaders will need to address to manage team effectiveness.

Unlocking full leadership potential

Our mission at Amrop is to help shape sustainable success for companies, and most importantly, to be prepared for what’s next. As one of the world’s largest leadership and executive search consultancies, we recognise the challenges and opportunities that financial services companies face.

We use a proven set of bespoke tools and approaches for our trusted leadership advisory services to help individual leaders and leadership teams to fulfil their full potential and create sustainable, successful organisations.

Rather than having a narrow focus, we understand our clients’ strategic direction and work as their partner to provide a sustainable transformation journey that provides space for innovation.

Competing for talent shouldn’t come at the detriment of time and productivity, which is exactly why our leadership advisory service is designed to fill the gaps that a financial services company has without diverting attention from running the business.

You can future-proof your recruitment and retention strategy for key leadership roles and begin to innovate as a result of increased digitalisation, rather than compete on two fronts against talent gaps and digital transformation.

Change is already occurring – securing the necessary talent has never been more vital

¹https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever

²https://cityhr.co.uk/wp-content/uploads/2020/02/Financial-Services-Skills-Taskforce-final-report.pdf

³ https://wp.financialservicesskills.org/wp-content/uploads/2021/11/OB_FSSC_Staying_ahead_in_a_changing_world.pdf

⁴https://www.standard.co.uk/business/jobs-boom-london-recovery-summer-vaccine-b931330.html

⁵ https://www2.deloitte.com/content/dam/Deloitte/au/Documents/human-capital/deloitte-au-hc-diversity-inclusion-soup-0513.pdf

Amrop UK makes further appointment

Tue, 10 May 2022 12:00:00 Z

Specialist provider of leadership advisory services, Amrop UK has strengthened its team with another new appointment.

James Greed becomes a principal at the company, which helps businesses in a range of sectors - including consumer and retail, financial services, tech, life science, manufacturing, energy, transportation and infrastructure - to maximise the potential of their most senior management teams.

James joins Amrop UK with over 15 years’ experience of advising boards, executive managers and HR functions on board and C-Suite level talent acquisition and development strategies.

He has particular expertise covering a number of highly pertinent commercial challenges including digitalisation, IoT, cultural transformation, diversity and inclusion, and sustainability.

Previously, James has assisted clients on a global basis, carrying out work in markets spanning EMEA, the Americas, Africa and Asia Pacific.

His appointment follows a number of other strategically important hires by Amrop UK which are a direct result of growing demand for its services. The company’s headcount has doubled in recent months, with the team strengthened across operations, delivery and client management and development.

Speaking of his appointment, James said: “I am delighted to be joining the Amrop UK team and during such an exciting period of growth. I am looking forward to being part of a business that acts as a trusted leadership partner to a wide range of high-profile clients and that is able to offer the best of both worlds – the high-touch experience of a specialist boutique but backed by the strength and resource of a global, integrated firm.”

Sandy McKenzie, Managing Partner and Global Practice Leader at Amrop UK, added: “James’ expertise and experience complement a multi-disciplinary team of professionals who are perfectly placed to help clients in numerous sectors with their C-Suite talent needs. It is a pleasure to welcome him into the business and we wish him every success.”

A secure packaging future begins with C-suite stability

Fri, 01 Apr 2022 10:46:22 Z

Across the full gamut of modern industry, the packaging sector is something of an anomaly; the industry is paradoxically both in flux and stable at the same time. Enormous shifts have changed how consumers relate to packaging and there’s no doubt that new retail patterns have emerged as a result of the Covid-19 pandemic, and yet, the industry remains remarkably buoyant in terms of volume and growth compared with others.

In terms of total global sales, the packaging sector is set to see a compound annual growth rate of 2.8% according to the Future of Global Packaging to 2024 report by intelligence firm Smithers, representing a market value of $1.05 trillion. Not spectacular growth when compared to other industry categories, but robust and steady and what’s clear is that it has significant potential for growth that current projections do not necessarily reflect.

One of the biggest challenges posed to companies in the packaging sector is that of securing a less volatile and more profitable future. Predictable market growth is great, but with potential on the table for more, we need to take a more inward look at the sector and where the future lies.

As diverse and fast-paced as it is today – and it is – packaging remains a legacy industry, built on a foundation of traditional processes. Of course, new technologies have arrived on the scene in terms of hardware and software developments at every level of organisations, but for true fundamental business strength, we need to look towards the personnel puzzle.

Common hiring challenges that lie ahead of the packaging industry are well known; while they’re not exclusive to the sector, they are magnified when contrasted with the growth potential on the table.

A primary concern in the industry is an older workforce ageing out of employment. Packaging tends to reflect many other manufacturing segments in a typically older and predominantly male demographic. As the working population ages into retirement and leaves the industry, they take experience and vital knowledge of traditional techniques with them. In turn, this creates vast knowledge deficits and a growing generational gap.

Compounding the problem, the packaging sector often struggles to create a strong incoming pipeline of new talent. The sector is host to some of the most creative and innovative minds around but tends not to shout about its accomplishments and has been much maligned in the media around its sustainability credentials in recent years. As a result, when compared to other manufacturing, engineering or technology fields, the sector seems a less attractive prospect to the next generation of school leavers, college age students or postgraduates often leaving a dearth of talent making it up to the senior positions.

We also have to consider, due to the legacy nature of the industry, the packaging sector currently suffers from a lack of training options and packaging-specific qualifications. When new blood is critical, this can make it harder to onboard the next generation and impart the experience that is so crucial. It also makes it harder to answer the question of hiring new talent to fill positions or training up and developing existing team members.

Adding further complexity, the switch to hybrid working models creates potential for major disruption in a sector that relies on agility, fast turnaround, high capacity and seamless communication. Of course, there are many job roles in a packaging business that cannot be completed from home. After all, who has space for a full end to end flexographic press and die cutter in their living room?

In the face of these mounting challenges, a robust C-suite team is key to building the fundamental stability that packaging organisations need. From C-level executive up to the boardroom is where the focus switches from production in the right-here-right-now, to long-term strategic direction. Both are, of course, important but having the ideal executive team in place takes a much wider and more contextual view of a business – how it sits in the market in terms of position, where it needs to go next and how this will be achieved.

At Amrop, we have a storied history of delivering leadership advisory and executive personnel search to diverse and dynamic organisations. What this experience gives us is unique insight into the evolving role of the C-suite in today’s more complicated commercial environment. The packaging sector is a prime example of why the right individual in the right position matters.

For brands today and the packaging supply chains they rely on, packaging isn’t ‘just’ packaging. It has to be aesthetically exceptional, high performance and sustainable, without sacrificing speed or volume. It must be eye-catching on store shelves but durable and robust enough for e-commerce logistics and long supply chains. It needs to engage the senses and tell a brand story without attracting excessive overheads. It has to be compliant in a sea of changing regulations and complexity, such as the UK Plastic Packaging Tax and EU Packaging Levy.

It's fair to say that there are many plates to spin, which means clear strategic vision counts. No business can be everything to everyone, so a robust C-level team has never been more important for the long-term future of the packaging sector. To achieve its true potential, a core team that can deliver on a specific and targeted commercial strategy is key.

Amrop UK sits at an important cross section for packaging companies aiming to create sustainable growth through executive search. Far beyond the capabilities of a head-hunter or recruiter, our team deploys state of the art resources, tools, and some of the more experienced minds in our field to put the right individuals in the right positions.

For almost half a century, Amrop has been delivering bespoke personnel solutions for our clients using organisational insights, unique market context and knowledge of the challenges that matter to you and your business.

To make C-suite appointments work for your business takes a strategic, thoughtful and data-driven approach. By dissecting business needs on a granular level, we pride ourselves on helping brands create leadership teams than inspire, deliver and engage to solve the problems of today, and tomorrow.

Gender diversity in tech | Why men must be part of the solution

Thu, 31 Mar 2022 11:24:13 Z

With our lives becoming ever more digital, automated and connected, it’s no surprise that the global information technology industry is on track to reach in excess of $5.3 trillion by the end of 2022. A high growth industry with tremendous opportunities for many and varied careers and yet, gender diversity has been low over the years compared with other industries.

According to the World Economic Forum Global Gender Gap Report 2021, women make up just 14% of the workforce in cloud computing, 20% in engineering, and 32% in data and AI. A recent Tech Nation report that looked specifically into diversity in UK tech companies also revealed that 77% of tech director roles are today filled by men and suggested that only 19% of the UK tech workforce are women.

With circa 600,000¹ vacancies in digital technology in the UK, it is clear the sector is not attracting and including all the available talent, costing the UK economy an estimated £63 billion² each year.

Tech is a fast paced, entrepreneurial industry with some of the highest paying professions and you don’t have to be ‘techie’ to work in the sector. Roles available vary from company to company and, contrary to common thinking, skills often attributed more to the female gender – critical thinking, flexibility, collaboration and communication – are sought after attributes in candidates. With today’s hybrid, remote and flexible working solutions clearly more acceptable to many more businesses, why do we continue to see a gender diversity malaise in this industry?

At Amrop UK, we work with a wide range of mid-market technology companies supporting their executive search, talent and board development and what we know, just like all industries, is that a number of strategies need to be employed to both attract and retain women in the sector. But what seems to be key is that male leaders, even when recognising they have a gender diversity issue in a business, often still recruit those who look like them, talk like them and think like them. It’s simply comfortable.

What they struggle to realise is when people look at the same problem from diverse perspectives – whether gender or ethnicity – ideas are often challenged, and the path isn’t quite as smooth. However, as an industry driven by innovation, this is critical to disruption in the tech sector and to keeping the ideas tap switched on.

In addition, when companies try to address this problem, they often focus their efforts on the women in the business in terms of training and support. However, experience shows that this is often not sufficient to bring about change. The focus is too narrow and essentially segregates the issue to being a female-only issue rather than positioning it as a broader company performance problem. Of course, in the tech industry, there are often too few women anyway to produce the required impact, so men do need to join their efforts for companies to be successful.

We recognise that many tech companies are addressing their diversity gaps, creating more inclusive work environments and providing employees with the resources they need to work effectively and grow. The industry is also trying to help itself with initiatives like the Tech Talent Charter, an employer-led, non-profit organisation leading a movement to address inequality in the UK and drive inclusion and diversity in a practical and measurable way. But with the pace of change slow and the data still lagging, more needs to be done outside of the predictable work/life balance strategies, equitable compensation and mentoring programmes.

Our view at Amrop UK is that men must be part of the solution. First and foremost, senior male leaders (as the prevalent gender) must own the issue and ensure the education of everyone in the business – bottom to top. This is especially important for start-ups where the pace of change is rapid, and leaders are often inexperienced in managing their diversity situation.

Second, create a mixed team to lead out the strategy and deliver buy-in with a data-based business case (there’s plenty of statistics out there!) to ensure everyone understands the prize that comes from true diversity of thinking. For example, Debbie Forster MBE, Founder of the Tech Talent Charter, states that: “Diverse companies have a 45% increased chance of growing their market share. 75% have an increased chance of capturing new markets.”

Third, Malcolm Gladwell in his book Blink: The Power of Thinking Without Thinking said: “The key to good decision making is not knowledge. It is understanding.” But to truly understand the diversity situation we must first develop accurate data on the make-up of the organisation as it grows and changes, as well as create valuable feedback loops on perceptions of the situation. This information will be invaluable to delivering action, rather than talk, and real performance improvement.

Finally, work hard at breaking the mould – learn to hire from more talent pools and partners you’ve not considered before and rewrite job descriptions losing masculine terms such as “control”, “master”, “experienced”. Remember, women will only apply for roles if they feel extremely confident they have the skills to apply; in contrast to males who will apply even with only 40% of the boxes ticked!

And finally, actively sponsor a high potential woman in the organisation to advance and develop; advocating for her at key points in her career into transfers and promotions, as well as enabling the individual to become a role model for others. Sponsorship is far more than simply watching out for an individual and providing mentoring where required. It’s a proactive strategy to ensure those with the requisite skills make it through the many roadblocks that can occur in any career to create the breakthrough required.

The data clearly indicates that managing diversity and inclusion effectively results in improved operational and financial performance. This type of success can only occur though if the entire organisation is engaged and specifically, if men are willing to take ownership of the performance improvement, join their female counterparts and get involved in owning the equitable workplace.

¹2018 Inclusive Tech Alliance Report
²2018 Edge Foundation Report

Amrop expands UK team

Fri, 18 Mar 2022 12:00:00 Z

Amrop, the trusted leadership advisory and executive search partner for many of the world’s leading businesses, has strengthened its UK presence. To accommodate on-going success and increasing demand for its executive search and consulting services, the business has more than doubled the headcount at its London office - taking it from five to eleven partners and employees.

Sandy McKenzie, Managing Partner and Global Practice Leader at Amrop UK, explains: “Amrop UK has a distinct and highly effective approach when it comes to supporting our clients – who range from small, PE and VC backed organisations to large, multinational corporates – to maximise their leadership performance.

“Our success in helping them to attract, retain and develop inspirational leaders who can deliver sustainable success and who are perfectly skilled for ‘what’s next’ has directly led to our continued UK growth.”

As well as Sandy, who specialises in the energy, infrastructure and industrial sectors, the Amrop UK team also includes fellow Managing Partner and Member of the Amrop Global Board, Adam Saunders. Adam is a founding Partner of Amrop UK and focuses on strategic hires at C-Suite and board level for financial services and private equity clients.

Avril Kellett is the third Managing Partner at Amrop UK. She works across a broad range of sectors and has particular expertise in handling mandates involving the identification and hire of the best talent for growth, transformation and change agendas. Avril has particular expertise in supporting life science, private equity and financial services firms.

The Amrop UK teams also includes internationally experienced talent advisor and executive search specialist, David Bell. David, who is a Partner, has a track record of full assignment delivery for clients across many sectors. This includes the digital technology sector where he has experience covering investor backed SaaS technology businesses involved in Fintech, HealthTech and MarTech.

The fifth partner at Amrop UK is Lucie Shaw who focuses on consumer-facing industries such as FMCG, retail, consumer services and travel, leisure and hospitality. Lucie, who has led numerous national and international executive search, assessment, succession and consulting projects throughout her career, is Co-Lead for Amrop’s Global Consumer & Retail Practice. She especially enjoys supporting clients through periods of business expansion or transformation.

In addition to the partners, the Amrop UK team now includes Principal, Ross Fraser who heads up the consultancy’s activities covering the renewable energy sector and sustainability. Since joining Amrop, Ross has also worked on mandates for clients in the infrastructure, packaging, transportation, automotive, engineering, consumer, and aerospace and defence sectors.

To ensure the various sector leads can offer clients the full benefit of their objective insight and extensive experience, the Amrop UK team is complemented by an increased number of researchers as well as additional support and operations staff.

“The expanded Amrop UK team now offers clients more resource and more expertise in handling complex talent acquisition and leadership needs than ever before” concludes Sandy.

“As a business, we are perfectly placed to build on our achievements to date and our reputation for offering the high-touch, partner-led experience of a specialist boutique – but backed by the global scope and scale of an integrated firm.”

About Amrop

The Amrop Partnership is one of the world’s largest executive search and leadership consultancies, with offices in over 50 countries. Over the past 45 years, it has built a reputation for quality, talent and agility.

At the heart of the business is a deep connection with its clients. Its goal is simple – to help clients shape sustainable business and be prepared for ‘what’s next’. It helps clients find and develop leaders and is adept at working across borders and in markets around the world.

Amrop UK is headquartered in London and operates across retail, hospitality & FMCG, financial & professional services, industrial and technology markets. With 5 partners, Amrop UK today offers a range of services to support long term client relationships including:

Leadership Advisory

Leadership Intelligence – In Depth Mapping, Talent Benchmarking, Succession Planning and New Leadership Roles, inc. team diagnostics
Leadership data – Compensation Studies, Organisation Design, Role Competency Planning and Diversity Planning

Executive Search & Development

Leadership Search – Executive Search, Talent Project Work
Leadership Assessment & Development – Individual & Team Assessments, Individual & Team Coaching

Board Services

Board evaluation, search and succession planning

Digitization on Boards 4th Edition | The Keys to High Performance

Tue, 25 May 2021 12:00:00 Z

Digital leaders are key members of executive teams. As such we can consider them jointly responsible for organizational growth. Our 4th edition of ‘Digitization on Boards’ looks into the keys to digital performance.

Examining digitization through the eyes of digital leaders from High and Low Performing Organizations, we ask: What are successful digital executives (and their organizations) doing better? Where can digital executives and non-executive boards focus — and win?

Our report surfaces a ‘virtuous circle’ of confidence, competence and outcomes in digital leaders and their High Performing Organizations. But even strong performers have clear avenues to raise their digital game.