Senior Executive Market Updates – Towards Q4

The InterExec network of Search Consultants report that the market, in terms of Senior Executive mandates and the related hunt for outstanding candidates, remains active in several key business sectors and across the major geographic regions.

In terms of market feedback, there is of course a natural summer slow down in the UK and Europe which is not so in the US, Middle East and Asia. Some Search Consultants are on annual leave and those who are at their desks are now starting to look ahead to September. On that note, the usually peak Q4 period is expected to particularly busy this year. Barring unexpected geopolitical or economic events, confidence from organisations to start focusing on growth and/or transformation should start reappearing at a faster rate than we saw through the first half of the year.

Although the market has slowed down somewhat with the summer break now in effect, market activity has not dropped off quite as notably as we would typically see; of particular note, more positive than expected economic news from the US has translated to a greater than average number of opportunities being presented cross-sector.

Specifically the Financial and Professional Services sectors remain an excellent sector for Senior Executive candidates. Those who can add an understanding of technology to their financial and professional services skills and experience are particularly well placed.

Whilst Investment Banking remains somewhat subdued, the sector as a whole is in good shape. For instance, whilst Goldman’s Q2 profits fell to $1.1bn, 62% lower than last year with revenue falling by 8%; at JP Morgan profits increased by 67% year on year to $14.5bn.

Also looking at the sector more generally, thanks to the highest interest rates for 15 years, net interest income at BoA, Citigroup, JP Morgan and Wells Fargo hit a record $63bn in Q2 whilst reported provisions for loan losses have only risen moderately to around $7.5bn.

Financial Services
Current sector focus is on:
-Technology in Banks
-Sustainability / ESG
-Cyber Security
-Risk, Compliance, Regulation. Internal Audit
-Start up and Scale up
-Commercial Banking

Professional Services
-AI: Application to the legal, advisory and professional services sectors generally.

-Technology in Professional Services Firms including legal practices and advisory firms.

-Consultancy – AI, Digitalisation, Energy, Renewables, Healthcare, ESG.

-Strategy focusing on Business Repositioning / Business Change.

Geographic – areas of positive activity: UK, US, Middle East, Africa, Asia.

Finding the right Search Consultant with the most appropriate job opportunity to match your objectives in this unadvertised and often politically complex marketplace is one of the key InterExec skills. Additionally focussing and preparing you and planning the entire process by which you identify and find that new challenge is InterExec’s core skill.

Please, do not hesitate to get in touch with the InterExec team at any time up to 6 months prior to when you hope to move.