“Our aim is to offer seamless executive search services to premier financial institutions across Singapore and Greater China,” says Edwin Yeo, Managing Director of Stanton Chase International Singapore, “which, most importantly, benefit our clients with the right expertise in addressing their pressing talent acquisition challenges”, he adds.

Ivo Hahn, CEO Greater China concludes, “the key financial hubs in our region are already interlinked, and highly complementary in nature. Managing the FSI sector from one hub allows us to leverage on our expertise, facilitate cross-border market access and penetration into Mainland China, which adds tangible value to our clients in Singapore, Hong Kong and the Mainland.”

“I am delighted that Wayne Mason, who has been promoted to Managing Director FSI Greater China & Singapore, has meanwhile accepted this new challenge and will spearhead our landmark initiative. I have no doubt that Wayne, supported by his highly capable team in Hong Kong and Singapore, will succeed in this important mission by setting supreme client satisfaction standards.”

Mason Wayne – Managing Director FSI Greater China & Singapore, Stanton Chase International

About Stanton Chase International
Stanton Chase is ranked within the global Top 10 global retained executive search firms. Mediazone ranks Stanton Chase amongst Hong Kong’s Most Valuable Companies and Asia-Pac Victory places Stanton Chase as #1. With proven expertise in key sectors of the global economy, Stanton Chase has 9 international Specialist Practice Groups that operate as international teams. Stanton Chase is owned by its partners who take individual responsibility for delivering outstanding quality for each assignment. Stanton Chase is a member of the Association of Executive Search Consultants www.aesc.org. For all information about us, please visit www.stantonchase.com.

The aim of this research is to examine the tenure of CEOs in Finnish listed companies during the period 1990-2011. There were 38 companies, which were listed in the Helsinki Stock Exchange during the entire period. The CEOs’ tenures, personnel, turnover, end EBIT figures were analysed for this research in order to find out if we can make difference from the CEO tenure and companies’ financial performance.

Click here to read in full

One such survey was carried out in October 2012 in Poland. Almost 1,000 top executives took part in the survey. The survey was carried out in Polish and was the first such survey carried out by the Stanton Chase Warsaw office. We are pleased with the high response rate and delighted to share the results.

The results closely correlate with the insights gained by Stanton Chase executive search consultants and specialists in their day to day contacts with the leading executives in Poland.

This survey consisted of 23 multiple choice questions in three different categories. Respondents were asked to give their opinions on:

• the current economic situation and outlook
• personal career drivers
• whether top Polish managers of today are Euro class.

The respondents were also representative of the key business industry sectors including Consumer Products and Services, Technology, Industrial, Life Sciences and Healthcare, Logistics and Transportation, Natural Resources and Energy, Financial Services, Professional Services, Government, Education and Non Profit.

Click here to read in full

All CFOs are actors and sales people.  Just ask any one of them.  They have many faces and roles they play internally and externally to their organizations.  Some roles are consistent over time.  Others are new and evolving.  Additionally, role priority changes over time to accommodate an ever-fluctuating economic climate, shifts in leadership, consumer behavior, product line maturity, or team personnel, among other factors.  Today, we see eight recurring themes, or roles, that CFOs are required to play due to the current mix of trends in the United States:

1. The Quarterback:    “You’ll have more duties this year…” so it is important to be able to take charge, call the shots, delegate effectively, recruit the best team, and communicate continually.  The CFOs of today are asked to be team leaders, with responsibility for throwing the winning plays without letting the weight of that duty bring them to their knees.  CEOs are more demanding, as they have more demands placed on them.  It’s not just more work…it is effectively meeting the needs of the CEO, the Board of Directors, investors, lenders, society, government, and the general public.

2. The Magician:    “Revenue is down…but Profits must go UP!” How many times have CFOs felt the pressure to magically make money appear? CFOs see the practicality of the numbers and are expected to wave their magic wand and fill expectations for profits, EBITDA, and EPS.

3. The Diplomat:    “Every department head wants their full budget.”  Each budget stakeholder wants something: from the VP with who wants a fully funded budget; the shareholder who wants attractive stock price and dividends; the employee who wants incentives and benefits; the customer who wants price, value, and quality; and the boss who wants performance, promotions, and bonuses.  How do CFOs juggle all of these competing wants/needs while maintaining personal integrity, organizational values, and a positive work environment?  Here is where the diplomat CFO must intercede and balance the happiness of all.

4. The Financier:    “Show me the money!” Despite all the market place challenges, lenders have been tightening up credit requirements, making cash flow harder to find.  Vendors and customers alike are tighter on cash flow.  On top of everything else, the CFO must ensure their organization’s own adequate cash flow.

5. The Ethics Officer:    “Moral Compass, Culture Cop, Values Guru.” The ethics officer is responsible for upholding the morals and values of the company.  Frequently this role today falls on the shoulders of the CFO, or at least the CEO with support from the CFO.

6. The Politician:    “The CFO speaks for the whole company.”  Not only must the CFO juggle the internal needs of their organization, they must now be politicians and serve as spokesperson to the world at large, a role for which many CFOs have not been adequately trained.  M&A activity, financing deals, disasters, bankruptcies, executive hires, succession planning, SEC-mandated announcements, and yet-to-be-named circumstances throw CFOs into the limelight.  CEOs and Boards want CFOs who can be effective in this role when circumstances demand their participation on the public scene.

7. The Multi-linguist:    “Staffing, Financing, Off-shoring…” The CFO of today must be versed in Global languages and cultures to effectively handle the new realities of a global business community.  Whether opening operations over-seas, in Latin America, or Quebec, or hiring candidates with multi-national experience, or floating debt in a foreign market, CFOs are asked to be aware and functional in multiple languages and customs.

8. The Athlete:   “Track shoes on!” It’s a competitive market out there, and CFOs today must be able to run the distance and come out ahead.  Whether competing for their own jobs or helping their companies to compete CFOs have more competition for scarcer resources today.  Generational, global, political, and economic trends are all aligning to create a more competitive business environment than ever before.  CFOs need to do whatever it takes to stay mentally, physically, and emotionally fit.

The CFO must effectively play more roles today and be constantly vigilant for what changes are coming, and be able to measure their own performance.  CFOs need to be self-aware, set priorities, and know which roles to play at any one time.  Which roles do you play best?  Worst?  How can you increase your strengths while mitigating your weaknesses?  How can you expand your repertoire of CFO skills?

These trends in CFO roles reward professionals who today have strong technical and social education, training, and competencies.  Contact me for more information on how successful CFOs today build those skills.  Meanwhile, best wishes for continued success in your CFO career!

Paul Herrerias, CPA, MS-HR
Managing Director- San Francisco
STANTON CHASE INTERNATIONAL
P.Herrerias@stantonchase.com

It is easy to find career rockets which just every other year want to test their market value and raise their salary.

Russian recruitment market is very fragmented with different kind of players in the market. Many want to make fast and easy money. The fee a top level Executive Search consultant will charge is not low. Therefore it is important to be convinced about the add value an Executive Search consultant will deliver for your company. His/Her role is to be the ambassador of your company.  He/She should equally understand your business, candidate’s expectations and the market.  This requires thorough study of your business, market strategy, plans, goals and budgets. In addition it is very important to understand your corporate values, culture, organization and personnel development plans. This will give tools to the Executive Search consultant to find the best matching candidates. This will also require work and effort. An analytic and systematic research will bring wanted candidates from right sources. The best candidates are often the ones who are not active on the labor market. In order to convince these candidates to consider a career move requires thorough understanding of the market, your business and candidate’s expectations. For this one has to have knowledge and experience. It is easy to find career rockets which just every other year want to test their market value and raise their salary.

For a serious candidate salary is not the only decisive factor when making a career move.

For a serious candidate salary is not the only decisive factor when making a career move. The reputation of the company, reputation as an employer (here social networks are very important), commitment and plans for the market, corporate and management culture, possibility for learning and developing professionally and career plan are equally important when making the decision. The position must fit to candidate’s career plan and situation where the candidate finds himself/herself at the moment in his/her life.

Serious candidates are ready to compromise in earnings provided that other parameters in the offered position will fall in place. A professional Executive Search consultant who understands your business, market and candidate’s motivation and drivers is able find to your company and for the position the best matching candidates – not only the most expensive ones.

Paul Holm is a partner of Stanton Chase International from Moscow, Russia

A perception or imagery about a CEO is by and large what the “direct reports” (DRs) observe, absorb, filter and disseminate within and sometimes even outside the organization.

In a structured organization, majority of the CEO’s time is spent with the DRs, either one-onone or in a collective forum. Even on plantvisits, sales meetings or customer pitches, CEO is invariably accompanied by the ‘DR’ of the relevant function.

Further, even going by the book, it is recommended that the CEO interacts with all the DRs atleast once a day. On the contrary, if the CEO spends disproportionate time with few DRs and ignores others, this in itself leads to another bout of controversial perception. Net-net the DRs are purveyors of perception about the CEO.

Having said that, CEO will not always be liked by all DRs no matter how hard he/she tries. They will always claim to have read the leader from their ‘lens’ better.

Extensive communication with DRs is vital but decision can be pummeled upon them when there is divided opinion. They don’t want to be surprised, hence keeping them informed is a pre-requisite. But still, you are either branded dominant or soft depending on which DR you ask?

( R Suresh, MD, Stanton Chase has recruited more than 100 CEOs and witnessed hundreds more trip at the last hurdle. This (column is for the hopefuls)

By: Mikael Stelander, Partner,

I just can’t stop thinking of a piece of news I heard a while ago. The long standing Communications Director of Nokia, Mrs Arja Suominen 52, leaves the company and moves to aviation company Finnair.

The CEO of Finnair, Mr Mika Vehviläinen is also a previous Nokia executive and acted as Mrs Suominen’s boss in Nokia. Mrs Suominen told openly in the media that Mr Vehviläinen asked her for a reference on good candidates for the open position for Finnair. Mrs Suominen answered with a question herself: “if she was interested herself, would Finnair be interested in her?”

I’ve never met Suominen. Her Finnish teacher education did not bother me. The news didn’t stick in mymind for the change itself – the door of Finnair’s Communications Director Office has been busy recently. Being tied to Nokia for so long also was not alarming either – though it was rather long, 25 years for Mrs Suominen..

The CEO Vehviläinen’s reasoning was also solid:”Suominen is needed in the company, since Finnair’s focus is shifting more and more towards international markets.”

But the motive? That has bothered me at nights. Motive for the move clearly was getting out from Nokia, not the interest towards Finnair. According to Suominen after serving Nokia for a quarter of a century it is a good opportunity to take on a new challenge. A quarter of a century and now it is time?

In the media Mrs Suominen also spoke openly about Nokia and why she is leaving. She didn´t mention anything about Finnair or her future there?

For me the motive for the job has always been one of the most important criteria in Executive Selections.

Sour grapes? Sure. But the last sentence in one interview really got me thinking: “I know nothing of aviation industry, but I have travelled frequently, stated Mrs Suominen”

What would have been the impact on the company’s future, if they have chose a new Communications Director who would knew something about aviation industry?

Before joining Emirates Bank in 2006 as CEO, Pudner spent 25 years with HSBC with recent positions including President and CEO HSBC Korea, Head of Corporate Banking HSBC Middle East, Chairman of Foreign Investors Advisory Council for Mayor of Seoul, and serveral other corner office positions in a career which spanned eleven different geographies.

He has championed the growth of Emirates NBD through mergers, a financial crisis, and numerous other epic challenges to make it the region’s largest bank. When old roads run out and well worn paths disappear, Pudner has proven his ability to lead his team through the storm. He kindly agreed to discuss his own development, experiences and insights into how he matured into one of the region’s iconic leaders.

Please click the link to read the full article:

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According to the second survey conducted in June 2011 by Stanton Chase Athens the conclusions that arose sawed that the profile of the Sales Executive has diversified considerably, reflecting the general turmoil in the professional and social arena.

This “Sales Survey”, compared the results of 2011 with those of the previous research on 2009, analyzed and presented the market trends and composed the new profile of the Greek Sales Executives. More than 410 senior executives, across all sectors responded to our questionnaire, regarding the conditions and challenges in this volatile job market.

Nowadays executives are required to manage a variety of problems in an unstable, uncertain and hard environment. Compared to 2009, the ‘Competitive pressure and market globalization’ emerged as the most important factor which is affecting their role. What seem to be different are their priorities regarding their business direction. While the ‘Results Orientation’ has kept its rates high, two new assets added in the list with a significant share are; the ‘Customer Orientation’, which has increased by 10% compared to 2009, and the ‘Teamwork Skills’ increased by 9%.

As for the conclusions arose from the responses to the question – How is the effectiveness of a “Top Sales Executive” measured; Profitability comes first, with a percentage of 84.4%, followed by the Alignment of sales with the Business Policy, with 65.3%, and Customer Satisfaction with 61.8%.

The role of a Sales Executive is extremely crucial during the recession. But which are the characteristics that a sales person must now show? The Ability to manage Sales & Turnover, with a percentage of 91.5%, is considered as the most important skill for a successful executive.  Second in ranking, with a percentage of 80.8%, is the ability to Handle Large Accounts and then the Ability to Handle Customer Relations, with a rate of 66.2%. Respondents admit that these particular areas are the ones that present the greatest lack of talent.

Concerning the qualifications that are considered as necessary for professional recognition and success, primary are the Communication Skills, as well as the Ability to Listen and Negotiate. Ranked second comes Confidence coupled with the Ability to Perform under High Pressure. Last follow the Complementary Skills such as Attention to Detail, Commercial Approach and Emotional Intelligence. It is clear that the business environment is considered as challenging, volatile and sensitive, and this makes them move very carefully and with “stretched ears.”

In the group, they want people focused on what they do, with dedication, good attitude, enthusiasm, desire for success, discipline and honest.

On the other hand, concerning the requirements that the Top Management sets to the Sales Executives, the respondents agreed that the Increase of Sales and the Provision of High Margins are requested. More strongly than in the past, the priorities of leadership are to ensure sustainability through, of course, sales. More specifically, the profile of the ideal Sales Executive must combine General Management Capabilities so that continuous and profitable growth of the company is ensured. Furthermore, the Leadership Skills and Sales Management are considered quite significant, while the Deep Understanding of the sector is not considered very important.

If it was required to rate the qualifications based on their importance, the hierarchy would be as follows: Leadership Skills, Commercial Awareness, Integrity, Organization & Planning, Control Management.

Finally, with regard to the priorities of the Sales Department, in the first place is the Rapid Response towards the Market Needs combined with the Ability to Adapt to Changing Conditions.Second comes the New Business Development, followed by the Evolution and Development of Sales, and last comes Turnover together with the Preservation of Good Management or Cost Reduction, with percentages that do not vary much, compared to 2009.

Regarding their careers and job prospects, the respondents were given additional questions that examined among others, the following issues:

a. How they view the future of the domestic market, where do the most opportunities arise in the Greek market today?

b. What is their biggest concern in terms of competition and their clients?

c. What they believe will help them achieve their career goals and to what extent are they willing to change career and country for this purpose

d. If they think that Greece will recover and when.

• Firstly, they are very optimistic about the professional future within the next 12 months. Only a 13.5% said they are unaware of their next steps. Therefore, they do not feel professionally threatened by the situation, at least for the next period of time.
Furthermore, they consider that this financial situation will strengthen rather than weaken their role and position. They see this situation as a critical challenge that they can successfully cope with using strategy and attention. It is interesting to see some of the views below:

“- In times of crisis, talented executives are the Asset..”

“- The greater the challenge, the more the opportunities”

“- What seems like a threat, under proper management and realistic goals can be turned into opportunity”

“- Fear is a catalyst for success”

“- Sales are now at the forefront. Everyone is waiting for results”

It is also interesting which subsector of Sales will be given the strongest emphasis during the next 12 months. First comes Key Account with 26.5%. Second comes Business Development with 25.5%, third Export Sales by 18% and fourth Customer Marketing by 9.5%. In 2009 the first three places consisted of the Business Development with 26,5%, Field Sales by 21.11% and Key Account by 20.5%.

Finally, they believe that the available job opportunities in various sectors of the market are more likely in the field of Consumer Products, followed by Retail, the Sector Pharma & Medical Devices Industry, and Professional Services.

• Their greater concerns about competition are to increase their market share against the competition, to have competitive prices and ability of Exposure and Offers of Products and Services. In this regard, their concerns about the customers are the Increase of Customer Penetration as well as the Improvement / Development of Sales Strategy. They emphasize on the existence of the Development /Improvement of a Management system focusing on customer relationships, meanwhile they even seem willing to change their Sales style, if this would lead to achieving a greater market penetration.

• International Experience is considered to be as the most important factor which can ensure their success and personal development, for almost 80% of the respondents. Moreover, being visible in the market is also considered as a very significant point. Noteworthy is the fact that a very high percentage of the respondents (29.6%) believe that good relationships with Executive Search companies are also very important, a trend that in 2009 was considerably less.

The percentage of Sales Executives who wish to explore the possibility of a new career is overwhelming: 94.1%!All of them are willing to assess new professional opportunities, demonstrating that there are no longer tights and that the market is open in every direction. The main reason that prompts executives to explore other professional directions is precisely to ensure success through continuous development and search, with almost 60%. Of course there are those who would make such a move to secure higher wages (15.5%), or are not happy with their current employment (9.6%).

The most known and effective way to achieve change in career, with a significant percentage of 72%, is through Executive Search companies. If one compares the 70% in 2009, he will distinguish a small but clear upward trend.After that, follows the Networking, meaning the expansion and development of the private network of acquaintances and contacts which has lost much ground (difference 9% compared to 2009).

Huge willingness is observed on exploring opportunities for resettlement overseas. 80% of respondents (72.2% in 2009- in just two years nearly 8% more executives) responded positively to this possibility. The opportunities are increased, the potentials of the Greek economy are bleak, the environment more and more demanding. All these points urge the Greek Executives to examine opportunities abroad, where the chances of career development and prosperity are far more.
With greater ease, the Sales Executives would go to the nearest more familiar markets of Eastern Europe (83.3%) and in the Persian Gulf (45.3%).

• Regarding the general economic situation in Greece, things emerge ominous and the respondents are pessimistic. A 60% believes that the crisis in Greece will last beyond 2014, while the first signs of recovery will occur after a long period of time (more than 24 months).

Vivid is the picture presented by the answers to the question about whether Greece will recover. About 45% of respondents believe that Greece will NOT recover while 41.6% believe that there are chances that it will recover. The 13.5% of optimists is overwhelmingly low.

To ensure their current employment, within such a pessimistic environment, necessary measures must be taken, sometimes easy, sometimes difficult. 23% replied that the costs should be reduced and the operations should be shrunk, 11.1% replied that there should be expansion of the business and hirement of new people, while 65.5% replied that both should be done.

These trends and conclusions, as they arise from the research, bring forward the anxiety and the troubled daily living of the Sales Executives. They are confronted with the harsh reality of shrinking market, dismissals, cost reductions, and the growing demands of leadership. They are faced with a situation in which they have to walk a tightrope and keep balance when everything around them collapses. The only way out is apparently to relocate abroad. On the other hand, there is optimism that this crisis will clear the situation and that, in the end, those who will remain will be the most capable and the ones who will be rewarded. In conclusion, personal responsibility, careful long term planning, flexibility and adaptability are the only tools for effective advancement and prosperity for every Sales Executive.

A few words about Stanton Chase International

Stanton Chase International is a multinational company, specialized in providing consulting services Executive Search. Founded in 1990, it is fully regulated in 45 countries with 70 offices. According to recent surveys, Stanton Chase is among the top 10 international Executive Search firms in size, recognition and reputation. Stanton Chase International is a member of the Association of Executive Search Consultants – AESC, and strictly follows the code of conduct and operation designated by the specific reputable organization.

Stanton Chase Athens has expanded within the dynamic markets of the Balkans and Middle East by establishing subsidiaries in Romania, Serbia, Bulgaria and the Middle East (Dubai, Qatar).

More information can be found in www.stantonchase.com