Leadership Transformation Project For Global (Re)Insurer

The client comprised two distinct businesses that had merged following an acquisition. A new chief people officer was hired from out of industry to build a team around them that would spearhead the transformation initiative across the organisation. Part of this directive was to consolidate the list of search firms currently on the PSL and reduce them in number. They did this by instigating a ‘beauty parade’, where each firm presented their credentials for partnering with the business during this pivotal moment in its history and helping it build out its leadership team.

This was an ambitious piece of work where multiple hires were needed in the context of various moving parts throughout the organisation. The business was restructuring, meaning reporting lines were continually altering. Numerous people were leaving the company – either due to redundancy following the restructure or through their own volition because of frustration at the constant change. This resulted in temporary damage to the company’s reputation as disgruntled people left the business.

This background meant it was imperative to select candidates with growth mindsets who would appreciate the opportunity to join a business at this time. We also had to ensure that both Damhurst and the client’s key stakeholders conveyed a consistent and compelling message to candidates we met.

For each of the above roles we worked on, we assumed the same tried-and-tested method for securing the right candidates:

• We mapped each market segment relevant to the search, not only in London but also across other key geographical hubs including Zurich and Bermuda.
• Drawing upon our extensive global network, we sought third-party commentary on all pertinent individuals and started homing in on a longlist.
• Any names suggested by the client were benchmarked and stress-tested with the market during research.
• Every effort was made for market universes to be as diverse as possible, and it was key to make sure we engaged with diverse sources during the research phase.
• We put together an extensive and appealing role profile for each project with significant input from the client to tell the company’s story and convey its objectives and vision.
• We worked with the client to incorporate its preferred psychometric testing seamlessly into the process.

• The candidates were all accomplished professionals with distinguished profiles in the market and credible track records.
• When gathering our market intelligence, we ensured the candidates on our longlist would be adept at navigating corporate change on a large scale and would be comfortable operating ‘in the grey’ initially, during transitional phases.
• Longlisted candidates had typically spent periods of their career in businesses that had undergone considerable growth trajectories.
• At some point in their career, longlisted candidates had been integral to improving their organisation’s status quo, either through enhancing the culture or improving underwriting discipline or organisational/operational/risk frameworks.

Most searches resulted in the successful placement of candidates. On a couple of occasions, no external hires were made, as the company decided to promote internally instead. In these instances, the client was grateful to have conducted a thorough and robust search process into the market, gaining deep market insights and benchmarking internal candidates with the leading industry talent. These factors allowed the client to make an informed decision.

Damhurst placed a broad spectrum of diverse talent into the business. Within a few years several of the newly appointed candidates were promoted into more senior and more accountable roles within the group.