Our Handcrafted List Of The 7 Best Banking and Finance Executive Search Firms In 2024

Our top 7 banking and finance executive search firms in 2024. Use these picks to attract, hire, and onboard the best c level talent.

Landon Cortenbach
Mar 8, 2024
# mins
Our Handcrafted List Of The 7 Best Banking and Finance Executive Search Firms In 2024

Our Handcrafted List Of The 7 Best Banking and Finance Executive Search Firms In 2024

Our top 7 banking and finance executive search firms in 2024. Use these picks to attract, hire, and onboard the best c level talent.

Our Handcrafted List Of The 7 Best Banking and Finance Executive Search Firms In 2024

Our top 7 banking and finance executive search firms in 2024. Use these picks to attract, hire, and onboard the best c level talent.

Hiring in the banking and finance industries has always been hard. Firms fight fiercely over the same small pool of qualified candidates. And when we say qualified, we mean really qualified — as in, smart, strategic, adaptable, and so on. It’s not every day you find these kinds of job seekers. But they are the lifeblood of investment banking and other financial companies and the primary reason for their success.

So it was always hard — now it’s even harder. The stakes have only risen with the growing need for digital transformation and the advent of increased supply chain risk, regulation, and financial transparency. Securing top-tier CFOs and other finance and banking talent who understand these complexities and issues requires some serious dedication and hard work on the part of the employer and its internal hiring team.

But there is some good news. Companies can opt to outsource their hiring to banking and financial services recruiting firms that specialize in these fields. These top financial recruiting firms are able to find and place visionary leaders and other quality talent faster, enabling investment banks, fintech startups, venture capital (VC) and private equity (PE) firms, hedge funds, and other financial businesses to focus their efforts on driving revenue and growth rather than finding the next hire.

Below we highlight seven of the best finance and banking executive search firms, all known for their excellent customer service, comprehensive market knowledge, and ability to fill key roles within the financial sector. Keep reading to determine which one is the best fit for your finance firm in 2024.   

Why Work With A Financial Services Recruitment Company?

Maybe your finance or banking firm has been handling its hiring in-house for a long time and you’re wondering if you should or shouldn’t take the executive search firm plunge. Below are several reasons why your firm should consider doing so:

Their Established Network of Finance Professionals

Your firm is likely struggling to find good candidates to approach. Top financial services recruiting firms, on the other hand, already have a vast network of fully-vetted finance and banking professionals in place that they can instantly tap into when needed. 

Their Industry Expertise and Hiring Best Practices

The best finance headhunters have years of experience. They bring deep finance and banking industry knowledge, high-level executive recruitment strategies, effective hiring best practices, data-driven decision-making, and sophisticated hiring procedures to the table.

Their AI-Powered Tools and Platforms

It can be a challenge to stay up on all the new technological advancements in hiring when you’re trying to run a business — so let the experts do that for you, especially in this day and age when artificial intelligence (AI) and machine learning (ML) algorithms are advancing at an unspeakable pace. Executive search firms like MSH even have their own AI-enhanced hiring tools and platforms that drive data-based decision-making.

Their Real-Time Analytics and Reporting

First-rate executive search firms keep their clients updated on the hiring process with regular reporting and real-time analytics. They track KPIs and other metrics, measuring everything and leveraging all the insights they’ve gained to quickly ID and place exceptional candidates. 

How To Decide Who To Work With

Now that we’ve sold you on the idea of using an executive search firm to handle all your private equity or VC company’s hiring needs, it’s time to establish some criteria to use when deciding which firm will be the best fit. See below for our suggestions:    

1. They Have a Proven Track Record

The firm you choose shouldn’t just have a track record — it should have one that shows its ability to recruit top-tier finance executives in particular. Talk to former clients. Ask them if their placements have lasted the test of time or not. The best financial services recruiters will be able to demonstrate their ability to consistently deliver successful placements. 

2. They are Obsessed with the Candidate Experience

A candidate’s experience throughout the entire recruitment process reflects back on your company — whether or not it’s your internal hiring team running things or a hired TA firm. So make sure to put your hiring in the hands of folks who fully understand your company’s culture and will treat every applicant with respect.

3. They Follow Through on Commitments

If you need someone placed, you need someone placed. It’s essential to pick an executive search firm that is reliable with a team who will do what they say. You don’t have time to waste on empty promises, not when new hires are so critical to your finance company’s profitability and ultimate success. 

Common Roles That Are Placed

Below are some positions that recruiting firms often fill for banking and financial services companies:

Chief Financial Officer (CFO)

A CFO oversees financial activities, manages financial risks, analyzes financial data, and develops strategies to ensure the financial health and growth of an organization. They also guide decision-making on investments, budgeting, and financial planning.

Chief Lending Officer (CLO)

A CLO is generally in charge of the lending operations within a financial institution, developing strategies to manage risk, ensure compliance, and optimize loan portfolios. They lead teams to facilitate loans while maintaining profitability and nurturing client relationships.

Chief Compliance Officer (CCO)

A CCO ensures that an organization conforms to legal and regulatory requirements, internal policies, and industry standards. In addition, they develop compliance programs, oversee risk management, and implement measures to prevent and detect violations in order to foster ethical conduct.

Chief Risk Officer (CRO)

The CRO oversees a company's risk management strategy, identifying potential threats and implementing measures to mitigate them. They also evaluate financial, operational, and strategic risks, ensuring the organization operates within acceptable risk levels to safeguard its stability and reputation.

Chief Operating Officer (COO)

The COO is a high-ranking executive responsible for managing the day-to-day operations of a company. They focus on efficient resource allocation, process optimization, and implementing strategies to achieve organizational goals.

Chief Information Officer (CIO)

A CIO is a senior executive responsible for governing an organization's technological infrastructure, strategies, and operations to achieve alignment with business objectives, innovation, cybersecurity, and the effective use of information technology resources. Sometimes they partner with technology consulting firms that support their endeavors.

Common Services That Only The Best Recruitment Partners Will Offer

Not all executive search firms are created equal. As a result, it’s important to do your due diligence prior to choosing one. Compare the various services offered by each to determine which will be the best match for your finance firm and its hiring needs. Below are some services that are commonly provided:

Talent Acquisition Process Design and Management

It almost goes without saying that most executive recruiting services will go out of their way to develop methods and strategies to efficiently attract, screen, and hire top talent for your company. This is at the core of what they do!

Employer Branding and Value Proposition Identification

You should look for the executive search firm you hire to be willing to craft a positive brand image of your company as an employer, in addition to defining and conveying the many benefits it has to offer to potential employees.

Talent Intelligence

The right talent acquisition firm will provide its clients with strategic data-driven insight into the labor market and candidate behavior, using this information to inform its decision-making and improve its recruitment processes.

Diversity, Equity, and Inclusion (DEI) Guidance

A top-notch executive recruiter will offer advice on how to improve recruitment strategies for underrepresented groups and create diverse, equitable, and inclusive workplaces.

Vendor Management

Search for a TA firm that will handle all the necessary external service providers that help ensure quality, compliance, and cost-effectiveness in the hiring process. 

Hiring

This one seems obvious, but it’s also perhaps the most important! Will the executive search firm you’re considering handle all the hiring details once they’ve found a promising candidate? Will they negotiate the offer? Check for this.

New Hire Onboarding

Not all talent acquisition firms offer new hire onboarding, but some, like MSH, do. They don’t wash their hands the second they place a new hire. Instead, they manage the new employee’s onboarding and help them assimilate into the company culture to ensure they stick around for the long haul.

Analytics and Insights

Given how quickly AI and data analytics are advancing these days, it’s a given that the executive search firm you go with should track KPIs, measure its hiring success using analytics, utilize AI-powered tools and platforms, and seek to transform data into actionable insights.

The 7 Best Banking & Financial Services Executive Search Firms in 2024

And now the time has arrived to announce seven of our favorite banking and financial services executive search firms for 2024. Without further ado, here they are:

  1. MSH
  2. Korn Ferry
  3. Robert Half
  4. Spencer Stuart
  5. Heidrick & Struggles
  6. Egon Zehnder
  7. Russell Reynolds Associates

Yes, we put ourselves at the top of the list… because we believe 100% in what we have to offer! Our team has worked extensively with PE, VC, and other financial services firms in the past, quickly and effectively filling much-needed executive roles, and we can’t wait to do the same for you.

But we do realize that it’s all about finding the perfect fit. And we can’t be everyone’s cup of tea. So we don’t hesitate to list other top executive search firms below — here’s to you finding the one that’s going to work the best for your finance or banking company!

1. MSH

MSH is a global leader in recruiting top finance and banking talent, filling niche roles, and scaling teams. Having worked with the likes of American Express, Blackstone, ADT, and many home office, private equity, and venture capital firms, MSH has earned a stellar reputation in the field by consistently sourcing only the best candidates for its clients. 

The MSH team dives into the unique hiring needs and cultures of its financial services clients to match only the best and brightest candidates. Our hiring strategists know how to quickly fill high-level roles like CFO — often providing clients with fully vetted, top-tier candidates in under 72 hours. Plus, we can’t forget to mention our before-its-time AI-powered platform, Aeon, which will knock your company’s recruitment strategy out of this world.

Services Offered: Executive Search, Direct Hire, RPO, Packaged Talent, Talent Acquisition Process Design and Management, Talent Intelligence, Employer Branding and Value Proposition Identification, DEI Guidance, Vendor Management, New Hire Onboarding, Analytics and Reporting, Staff Augmentation, AI-Powered Aeon Hiring Platform, Digital Commerce Transformation, Software Testing, Business Intelligence Consulting, Cloud Transformation, Technology Consulting

2. Korn Ferry

Founded in 1969, Korn Ferry is an organizational consulting firm that operates worldwide. It works with its clients to design and implement organizational structures, roles, and responsibilities. In addition, it supports its clients by helping them fill openings and reward/motivate their existing employees.

Services Offered: Organization Strategy, Assessment & Succession, Talent Acquisition, Leadership & Professional Development, DEI Guidance, ESG & Sustainability, Career Transition & Outplacement, Talent Management

3. Robert Half

Robert Half International Inc. (best known as Robert Half) is an accounting, legal, IT, and finance staffing firm that was founded in 1948. With over 345 locations across the world, the firm fills on-site, remote, and hybrid roles. It advertises a fast hiring process and experienced recruiters.

Services Offered: Contract Talent Staffing, Permanent Talent Staffing, Executive Search, On-Site, Remote, and Hybrid Placements

4. Spencer Stuart

Based in Chicago, IL, Spencer Stuart is an international executive search and leadership consulting organization. Founded in 1956, it operates in 33 different countries. The largest privately owned search firm in the world, Spencer Stuart specializes in placing executive teams and boards. 

Services Offered: Executive Search, Board Services, CEO Succession Planning, Executive Assessment, Leadership Consulting, Digital Transformation, DEI Guidance, Restructuring, Family Businesses

5. Heidrick & Struggles

Heidrick & Struggles International Inc. is a global executive search and management consulting company that’s been around for 70 years. The firm also offers leadership and corporate culture consulting services. Heidrick & Struggles works with clients in almost every industry and sector. 

Services Offered: Executive Search, Leadership Assessment and Development, On-Demand Talent, Culture Shaping, DEI Guidance, CEO Succession Planning, Coaching, M&A Talent Planning, Interim Executives 

6. Egon Zehnder

Egon Zehnder is an international organizational consulting and leadership advisory firm. Located in 36 countries, the company offers tools that help its clients identify and develop leaders. It also assists organizations in shaping successions, building and empowering boards, and initiating organizational transformations.   

Services Offered: CEO, Executive, and Board Successions, Board Review and Development, Executive and Board Search, Executive Assessment, Individual Development,  Accelerated Onboarding, Development Planning, Coaching, Cultural Transformations

7. Russell Reynolds Associates 

Russell Reynolds Associates is an executive search and leadership advisory firm that helps public, private, and non-profit organizations build sustainable teams. From succession planning to M&A integrations, the firm provides a variety of services that support the placement and development of diverse and innovative executives.  

Services Offered: Executive Search, Board Director and Chair Search, DEI and ESG Guidance, Family Businesses, Succession Planning, Mergers, Acquisition, and Integrations, Culture Advisory, Executive Mentoring, Leadership Development and Transition, Assessment and Benchmarking

Big Takeaway: Eliminate Hiring Stress in 2024 by Partnering with a Top Executive Search Firm

Is your internal hiring team tired of competing with other financial services firms to try and land quality candidates? It’s hard enough to find exceptional candidates in any industry these days, let alone in the finance and banking fields where the competition is incredibly cutthroat. The pool of candidates is so limited, and every company is trying to secure only the best and the brightest to advance their own success and profitability.

Thankfully, there’s relief to be found in the form of an experienced and reputable executive search firm like MSH. With vast networks of fully vetted finance and banking candidates right at their fingertips, MSH’s hiring strategists are eagerly awaiting the opportunity to lock down top-tier candidates for your firm — those that’ll fit your unique culture, stand the test of time, and drive business growth. Add to that MSH’s AI-powered hiring platform, Aeon, and your team can say goodbye to all the hiring stress.

So, don’t wait! Get in touch with us today to learn exactly how MSH can help your finance firm achieve all its hiring goals in 2024. 

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Our Handcrafted List Of The 7 Best Executive Search Firms In 2024

Our curated list of the top Executive Search Firms in 2024. Use these recommendations to attract, hire, and onboard the best C level talent.

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