A $4 billion bank and fintech company with a rapidly expanding payments and card business faced a critical need: new leadership to steer this crucial division. They sought an executive who could either sustain and grow the existing business or a visionary leader capable of revolutionizing their operations. This case study explores how AJ Consultants (AJC) successfully filled this pivotal role, positioning the client for industry leadership.

Here’s how we got there:

The Challenge: Stick with Routine or Reach for Radical?

The bank and fintech company’s leadership dilemma revolved around choosing between an experienced caretaker or a maverick leader who could dramatically transform their business. Key pain points included:

• Determining the right type of leadership to meet their ambitious goals.
• Finding a candidate with the right mix of experience, vision, and motivation.
• Navigating the complexities of recruiting top talent from competing institutions.

Initially, the company struggled to define their ideal candidate profile. They needed someone who could either seamlessly step into a well-functioning role and enhance it or radically innovate and lead the company to new heights.

The Solution: A Full Menu with a Standout Entrée

AJC embarked on a comprehensive search to provide the client with a wide array of options. Here’s how they approached the challenge:

1. Diverse Candidate Pool: AJC presented 12 candidates, ranging from experienced leaders capable of maintaining and gradually improving the business to visionary talents from top peer banks and competitors.
2. Targeted Recruitment: Through thorough research and vetting, a standout candidate was identified. This candidate, a top target for both AJC and the client, emerged as the ideal fit—a dominant, game-changing leader. It seemed like an unrealistic option, but the client was ultimately intrigued.
3. Deep Insight and Preparation: AJC conducted thorough interviews and research to understand each candidate’s motivations, requirements, and potential barriers (such as non-compete clauses and NDAs). This preparation ensured a smooth recruitment process and transition.
4. Bold Cold-Calling: Unlike many firms, AJC was willing to reach out directly to high-caliber candidates who were the architects of the client’s aspirational competitors. This proactive approach set them apart from other executive search firms.

The Results: A Big Swing & A Bigger Success

The selected candidate was a transformative leader who had previously shaped the success of two banks the client aimed to emulate. This executive’s expertise and vision aligned perfectly with the client’s goals, leading to a significant placement that exceeded expectations.

Key outcomes included:

• The client secured a high-impact leader capable of driving substantial innovation and growth.
• The successful recruitment process positioned the client to ascend as a leader in the payments, card, and fintech space.
• The thorough and creative approach of AJC demonstrated their ability to attract top-tier talent, even from direct competitors.

No Candidate is Beyond Our Reach

AJ Consultants’ willingness to take bold steps, backed by deep research and a comprehensive understanding of client needs, proved instrumental in securing a game-changing leader for the $4 billion bank and fintech company. If you’re seeking your next banking executive, don’t underestimate the importance of a tailored, innovative approach in your search, particularly within the dynamic fintech sector.

Ready to unearth your next superstar executive? AJC can help you find it.