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Head of Division

Re-sourcing a Head of Renewables Finance for an SME Lender wanting to continue growing a new product offering. 

Single Hire Renewables Finance Asset Finance Commercial Loan
Headof Division

The Situation

The client sought to fill a senior team lead position after an initial hire did not meet their expectations. The primary objective was to find a candidate with relevant industry experience, capable of independently managing their own division. Sustained book growth over a long-term horizon was the key target for this critical role.

Position: Head of Division, Renewables

Product: Asset Finance / Commercial Loan

Location: London

Salary: £120,000 + Package

  1. Industry expert with exceptional sector knowledge and awareness.
  2. Active introducer network which also matches lenders credit appetite.
  3. Comprehensive and practical sector Credit & Risk background.
  4. Previous experience of owning P&L, budgets and forecasting. 
  5. Ability to create and implement successful route-to-market strategy. 

Challenges

Renewables Finance is a very nuanced sector, with a need to understand exactly what the client's offer is. It was crucial for us to ensure: 

1. The candidate had the right deal exposure, particularly in the SME market rather than larger infrastructure projects. This is important because it directly effects pricing model and credit appetite. 

2. The candidate must also possess wider skills beyond sales, i.e. credit risk management, managing overall divisional performance and owning a P&L.


Method

The success of this hire would depend on finding someone who could effectively sell the product as a solution rather than simply focusing on offering the cheapest price, as commonly observed in larger banks. With that in mind, we: 

a) Employed a focus was on sourcing individuals from larger banks who possessed a strong understanding of SME markets and valued the personal relationships that come with it, rather than those primarily focused on larger corporate deals. 

b) We embarked on the task of convincing these candidates to join a "smaller player" and embrace the opportunity to lead their own team within the Challenger Bank.

Outcome

The recruitment effort resulted in a successful first time hire. The appointed candidate demonstrated their capability to drive growth and establish the bank's renewables finance division in the market. The team performed well under their leadership, successfully capturing opportunities within the SME market.

The candidate was eventually headhunted by a larger competitor after 2-3 years, but their tenure at the Challenger Bank left a lasting impact. This candidate played a crucial role in establishing the bank's product in the market and laying their foundation for sustained growth.

Recruited in budget 

Process ran to time

First time hire 

Sustained book growth over multiple years

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I was approached by David with an opportunity to join a smaller business, offering an exciting opportunity to take on more responsibility than I had previously. It was a move away from what I had always done, but the entire process was simple, transparent and efficient.

Head of Renewables Division, Hire