Wealth & Finance International - March 2017

29 March 2017 “As a result, we see plenty of change and growth on the agenda as firms compete to manage those assets, and provide more diverse investment capabilities in a low interest rate environment. I would suggest that busi- nesses don’t often leverage the market intelligence held by executive search firms. We encourage all of our clients and potential clients to get in touch with us as they are beginning to consider expanding into new areas or making strategic hires” Monro concludes. Company: Stonehaven International Name: Harry Monro, Director Email: [email protected] Address: 11-15 Farm Street, London W1J 5RG Telephone: +44 (0)207 569 1315 Web Address: www.stonehaveninternational.com private banking clients, it may be helpful to draw on the expertise of my colleagues from our banking practice. Every candidate or client interac- tion is important. In sporting parlance, we might say we are only as good as our last performance, but some firms forget that” he adds. The feedback Stonehaven receive from their clients is honest and straightforward, but there are certainly challenges that come with each assignment. Having said that, the firm takes pride in its delivery as Monro explains. “We represent clients in the market well, and the proof is in our long history of repeat work with those clients. We also seek to com- plement our clients to deliver against their stakeholders’ expectations” Monro reveals. The future In terms of the future of the firm and the wider industry they are a part of, Monro remarks that the global political environment in particular caused many clients to put hiring plans on hold during 2016. Many of these plans have now been activated however, which Monro says is encourag- ing and would naturally like this to continue long into the future. “The main challenge for us is getting clients to think about talent as a strategic initiative rather than as a transactional commodity. Talent is a competitive advantage and the best companies recognise that. We need our client firms to have a desire for organic expansion, suitable budget and economic visibility to sustain that growth. In terms of opportunities, we have recently opened an office in New York and have already seen the benefits of a transatlantic connectivity.” “One of the main challenges for our industry is that clients are placing an increasing emphasis on cost reduction, rather than concentrating on val- ue proposition. Our client market suggests the commoditised approach might satisfy the cost objectives, but rarely delivers the value expected. “There is a vast amount of opportunity not just for Stonehaven, but for our whole industry. The technology revolution has forced every business to embrace change and update systems. The aftermath of the financial cri- sis has created new challenges for guardians of wealth at all levels from small discretionary wealth management firms right through to the largest institutional managers of pension fund and insurance assets. “A company driven by long-term partnership with clients and not by short-term fees. A business partner with the expertise to shape opinion, the judgement to create perspective and the confidence to challenge thinking at every level.”