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  Case Studies The Situation The Search The Successful Results  

    Managing Director and Head of High Yield Origination for a Section 20 Subsidiary of a Foreign Bank

Financial Services



  The Situation

Our client, a section 20 subsidiary of a foreign bank, approached us to compete in a shoot-out for a search assignment to help them recruit a managing director and head of either high yield capital markets or origination. This search was complicated by the fact that the client had no one in high yield and did not know which background it preferred. Therefore, we decided to offer candidates from both universes. Another major search firm was simultaneously hired to conduct a search for the head of high yield research.


  The Search

The search was conducted exclusively by a partner without the support of a consultant because of the high level and confidentiality of this assignment. One day after the search officially began, we recommended our first candidate, and within one week, we had two additional candidates. Within one month of the start date of the search, we had recommended 10 candidates, including the successful candidate; and our list looked like the who's who of the high yield industry. Three additional candidates were also recommended by Ray & Berndtson.


  The Successful Results

Our search was so successful that we replaced the other search firm as the firm of choice on all search work done for this client in the United States. Four and a half years later, our successful candidate is thriving at the client company and so is our client as a result. He is now not only head of the entire high yield effort, but also head of mergers and acquisitions. His reputation in the industry is impeccable and he has been able to build a very successful operation. The client company's head of human resources for the United States in response to Ray & Berndtson's written client service feedback survey answered all 16 questions giving Ray & Berndtson a perfect 5.0 rating on a 5.0 scale and stated that the partner performing the assignment "did an outstanding job and is by far the best person in the search business that I deal with."
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