One of the most renowned columnists of the NY Times and professor of economics and international affairs at a top American university gave the opening keynote speech in a national gathering of businessmen in Madrid that I attended. His perception about the global economic turmoil was that its end was near. This event took place last June. So far, we have heard many opinions and the fact is that there is not a clean-cut explanation nor there is a solution or a trusted forecast for the crisis’ aftermath. Perhaps, the typical “your guess is as good as mine” applies neatly to these circumstances.
More than a year has passed and the effects of the credit crunch are still present. Big regional corrections are taking place and are, quite literally, forcing companies to issue profits’ warning notices, re-think strategies and re-structure their various teams. However, the global economy remains sound and according to the International Monetary Fund, global growth will be around 3.7%. As a reference, 2007’ growth was 4.9%. This scenario has sharply polarised recruitment strategies. In one hand, some of my clients in the private banking sector are aggressively deploying new teams in markets that have been identified as ‘pockets of high net worth individuals” whereas in the other hand, another client, a top European private equity firm, is looking after their current portfolio as a top priority and considering fewer buy-outs following a more cautious approach and directives from primary investors.
It is a well-known fact that in order to be a successful organisation, the four pillars of managing people, processes, technology and risks have to be in place and be sound enough. Organisations that master this are better prepared to survive and deliver in the current climate. The ability to adapt to the winds of change depends, at the end of the day, on the existing human capital. Organisations in the finance sector are facing the constant challenge of developing or buying talent. The 70/30 model is not longer working as it should be and the current tide is pushing companies in the financial sector to consider off-loading average achievers and fight to retain talent as well as attracting and buying it.
Here at Antal International Network, our commitment is to work together with you assisting you in attracting and buying talent that will immediately add value to your organisation. Our results are a living proof and our best business card that we are well placed to help you with your current or future needs of human capital. We are in permanent contact with banking and investment professionals that entrust us with their next career move. These are talented individuals with substantial experience and with millions in assets under management. Our consultative approach has helped some companies to identify further needs and therefore capitalized on our talent pool as recently occurred with one of the largest European financial institution that instead of preparing an offer to just one candidate out of the three short listed, quickly identified that a second candidate could add value in a different area and is in the process of arranging a second offer.
It would be a privilege to hold an exploratory conversation with you or anyone that you might recommend within your company as to discuss my current talent portfolio and how relevant is to your business. At the same time, my company is well prepared to deliver within a reasonable period of time our best recommendation for your talent shortages.
Abel Zea
Director
Private Equity, Private and Investment Banking
Antal International Network
Email: AZea@antal.com
Tel: +44 (0)870 770 0020
Mob: +44 (0)772 544 2340
Fax: +44 (0)870 770 0021
