Executive Search

Exec Capital is a specialist executive search firm placing C-suite executives and senior leaders with UK businesses across every sector. We conduct retained executive search — direct approach to specific named individuals — rather than advertising and filtering. This methodology accesses a fundamentally different candidate pool: the experienced CEOs, COOs, CFOs, CMOs and CTOs who are performing well in their current roles and not looking, but who are open to the right conversation from a credible firm with a relevant opportunity. These are the candidates who move markets. They are not on job boards.

Professional bodies such as the Institute of Directors, and the UK government’s Standard Voluntary Code of Conduct for Executive Search Firms, encourage a formal, well-documented process for senior appointments, where the cost of a poor hire is high. Exec Capital’s process is built to meet that standard on every assignment.

This page explains what executive search is, how it differs from the other ways of filling a senior role — contingency recruitment, advertised selection, and interim or fractional appointments — when each one fits, and how Exec Capital runs a search from the first briefing to the new executive’s first months in post. If you already know you need a search and want to talk it through, the quickest route is to tell us about your hire.

What Executive Search Actually Means

Executive search — sometimes called headhunting or direct search — is a specific recruitment methodology, not just a premium label applied to senior hiring. The defining characteristic is proactive direct approach: the recruiter identifies specific target candidates through research and professional network, and approaches them directly rather than waiting for responses to advertising.

This distinction matters commercially. An advertised search for a CEO or CFO reaches only those who are actively looking — a self-selected group that typically excludes the strongest candidates, who are employed, performing well, and not browsing job boards. A direct search reaches the full universe of qualified candidates regardless of whether they are actively looking. We are CEO Recruitment specialists.

Executive search is also typically conducted on a retained basis — in the wider market, part of the fee is usually committed at instruction to fund the dedicated research effort, and at Exec Capital the fee structure is agreed with you at briefing. This structure ensures the search firm is working exclusively for you, not in a race with other firms to place the first available candidate. Most of our C-suite searches are run on a retained basis, and every search is dedicated and confidential.

Executive search, headhunting and executive recruitment: is there a difference?

In everyday use the three terms overlap, and you will see firms use them interchangeably. The useful distinction is about method rather than vocabulary. “Executive recruitment” is the broad umbrella for hiring senior people by any route, including advertising and contingent agency work — our executive recruitment hub covers that full range. “Headhunting” describes the act of approaching someone who is not on the market; if you are weighing up which firm to use for that, our page on choosing executive headhunters sets out what to look for. “Executive search” is the complete discipline built around that approach: a defined brief, systematic market mapping, structured assessment, referencing, offer management and onboarding, run to an agreed plan for one client at a time.

What a search should give you that an advert cannot

The output of a well-run search is not simply a list of CVs. It is evidence. By the end of the process you should know who the realistic candidates in your market are, why the people on your shortlist are the strongest of them, how they compare on the criteria that matter for your business, what it will take to attract them, and which risks you are accepting with each. That evidence is what allows a board, an investor or a founder to make a senior appointment with confidence, and to explain the decision afterwards.

• Market coverage. A view of the whole qualified population, not only the people who happened to see an advert in the week it ran.
• Discretion. The ability to approach people without the vacancy, or the reason for it, becoming public — essential when an incumbent is still in post. Our guide to confidential executive search covers how that is handled.
• Assessment depth. Structured, evidence-based assessment against the brief rather than a CV sift, supported by referencing that goes beyond the names a candidate provides.
• Process control. One accountable firm managing candidate communication, feedback, timetable and negotiation, so strong candidates are not lost to drift.

Four ways to fill a senior role — and when each one fits

Executive search is one of four main routes to a senior appointment. Most businesses will use more than one of them over time, and the right choice for a given role depends on how scarce the skills are, how visible the vacancy can be, how quickly you need someone in post, and whether the need is permanent at all. The table below sets out the differences in plain terms.

When retained search is the right call

Choose a retained search when the appointment will shape the business for years and getting it wrong would be expensive: a first external CEO in a founder-led company, a CFO ahead of a fundraise or sale, a managing director for a newly acquired subsidiary, a chair or senior independent director. It is also the right route when the candidate population is small or specialised, when the vacancy must stay confidential, or when you need to be able to show a board, investor or regulator that the appointment followed a rigorous process. For listed companies, the UK Corporate Governance Code expects board appointments to follow a formal, rigorous and transparent procedure, and provides that open advertising and/or an external search consultancy should generally be used for the chair and non-executive directors.

When contingency recruitment works

Contingency works best one level below the board, where the profile is familiar, there is a reasonable pool of active candidates and the cost of a slightly narrower search is low. It can be a sensible, economical route for a financial controller, a head of a function or a regional director. It becomes less effective as seniority rises, because the strongest executives are rarely on the market and a contingent firm has little reason to invest in finding them before it knows it will be paid.

When advertised selection makes sense

Advertising has a real place in senior hiring. Public sector bodies, charities and some membership organisations need open competition, and an advert alongside a search can widen the field and support diversity aims. The government-backed code for executive search firms, for example, asks firms to review the make-up of the board at the start of a brief and to set minimum diversity standards for longlists. In practice the strongest approach for many senior roles is a hybrid: advertise to show the process is open, and run a direct search in parallel so the shortlist is not limited to whoever responded.

When interim or fractional is the better answer

Sometimes the honest answer to “do we need a search?” is “not yet”. If a CFO has left without notice, a turnaround needs leading now, or a regulated firm has lost its compliance officer, an interim executive can hold the role while a permanent search runs properly. If the business needs senior judgement for two days a week rather than five — common in scale-ups, PE-backed companies and smaller regulated firms — a fractional executive is often the better long-term fit. Many of our permanent searches begin with an interim or fractional appointment that buys the time to hire well.

Exec Capital’s Executive Search Services

Exec Capital’s executive search practice covers the full range of senior leadership appointments across all functions, engagement types and geographies. Our primary service pages are below.

If your requirement sits in a niche — a scarce technical skill set, a specific regulatory background or an unusual ownership situation — our specialist search practice applies the same method to narrower candidate pools.

How Exec Capital’s Executive Search Process Works

At a glance, a search moves through six stages. The duration of each depends on the role, the market and your diary, so we agree the timetable with you at briefing rather than quoting a standard turnaround.

Every retained search follows a five-stage process that begins before any candidate is contacted:

Stage 1 — Brief development. We invest time at the start understanding your business, its commercial stage, culture, board structure and the specific challenge this executive will need to solve in their first twelve months. The candidate profile emerges from this conversation, not from a job description template.

Stage 2 — Market mapping. We identify the universe of individuals who could perform this role — across a defined set of businesses, sectors and career backgrounds. This mapping establishes who exists before anyone is approached.

Stage 3 — Direct approach. Shortlisted target candidates are approached directly and discreetly. Our approach explains why this specific opportunity is relevant to their career — not a generic pitch. We represent your business professionally in every interaction.

Stage 4 — Assessment and shortlist. Interested candidates are assessed in depth. You receive a shortlist of three to five candidates with a detailed assessment brief for each — functional competence, sector experience, leadership track record, compensation expectations and cultural fit.

Stage 5 — Interview and appointment. We manage the interview process, provide candidate and client feedback, handle offer negotiation and support onboarding. The process ends at appointment — not at offer acceptance.

For a fuller account of each phase — how a brief is written, how market maps are built, which assessment dimensions we use and how referencing is carried out — see our guide to executive search methodology. Two parts of the process deserve particular mention here because they are where searches most often go wrong. The first is assessment: a strong interview performance is not the same as a strong track record, so we test claims against evidence and use our executive assessment framework to keep comparisons fair. The second is the offer stage, where good candidates are lost to slow decisions, poorly structured packages or counter-offers. Agreeing the package parameters at briefing, and keeping decision-makers available at the end of the process, does more to secure the preferred candidate than anything else.

Retained Executive Search vs Contingency Recruitment

The distinction between retained search and contingency recruitment matters significantly at C-suite level. Contingency recruitment means the firm only earns a fee if a placement is made — which creates an incentive to send speculative CVs quickly rather than conduct a thorough search. Multiple contingency agencies working the same brief creates a race to the bottom, with agencies competing to present the same available candidates fastest.

Retained search means Exec Capital is engaged exclusively, works on your brief with dedicated resource, and has a financial and reputational stake in the quality of the outcome rather than the speed of the first submission. The Association of Executive Search and Leadership Consultants (AESC), the global professional body for executive search, sets out the standards retained search firms work to. For a fuller comparison of the two models, see our guide to retained vs contingent executive search.

Exec Capital conducts both contingency recruitment and retained search for C-suite or Director-level roles.

How to decide between them

Three questions usually settle it. First, how many genuinely suitable people are actively looking right now? If the answer is “plenty”, contingency may be enough; if it is “very few, and they are all employed”, you need a search. Second, can the vacancy be visible? If an incumbent is still in post, a sale is in progress or competitors would read something into the hire, the discretion of a single retained firm matters. Third, what does a wrong appointment cost? At board level the cost of a mis-hire — in lost momentum, severance, a second search and the effect on the team — is usually far greater than any difference in search fees, which is why the more senior the role, the stronger the case for a retained process.

Our founder

Adrian Lawrence FCA founded Exec Capital after more than 25 years operating at C-suite level as a Chartered Accountant and finance leader. His experience spans private equity-backed businesses, founder-led companies, and listed environments — giving Exec Capital a practitioner’s perspective on what boards and shareholders genuinely require from senior executive appointments. He holds an ICAEW practising certificate in his own name.

Published research and thought leadership. Adrian Lawrence FCA, founder of Exec Capital, actively contributes to advancing the understanding of fractional and interim finance leadership in the UK. His recent publications on ResearchGate explore the strategic impact of these flexible executive models on business growth, transformation, and scalability — particularly for SMEs, scale-ups, and PE/VC-backed companies.

• The Evolution of Fractional CFO Leadership in Modern UK Businesses (March 2026) — examining how fractional CFOs are reshaping financial strategy in dynamic markets.
• The Strategic Role of Fractional and Interim Executives in Supporting Organisational Growth and Transformation (March 2026, co-authored) — insights into how these roles drive efficiency, fundraising success, and long-term value creation.

These works build on Adrian’s more than 25 years at C-suite level and reflect Exec Capital’s commitment to evidence-based advice. The same principles shape how our team runs every search, from the brief to the shortlist. If you need support with your managing director recruitment make sure to reach out today.

Our commitment to professional standards

Exec Capital adheres to recognised executive search standards and best practices. We support the principles outlined in the UK government’s executive search code of conduct, which promotes transparency, fairness, diversity, and professionalism in senior executive appointments. As an employment agency we also agree our terms with each client before we start work, as the Conduct of Employment Agencies and Employment Businesses Regulations 2003 require.

Interim and fractional: when a search is not the first step

A permanent search is the right answer for a permanent role, but it is not always the right first step. Exec Capital places executives on permanent, interim and fractional terms, which means we can advise on the format without an interest in steering you towards one of them. The comparison below is the one we walk through with most clients at the first conversation.

For a fuller discussion of the trade-offs, our guide to choosing between fractional, interim and permanent leadership sets out the questions to ask. Interim and fractional day rates include our fee, so there is a single, transparent rate for the executive’s time.

Regulated firms: the fractional compliance route

For FCA-authorised firms, the most common senior need we see is not a full-time C-suite hire but a part-time Head of Compliance (SMF16) or Money Laundering Reporting Officer (SMF17), or one person holding both functions. Smaller authorised firms rarely need either role five days a week, but they do need someone credible, approved and accountable. That is a natural fit for a fractional chief compliance officer, a fractional compliance officer or a fractional MLRO; where an incumbent has left suddenly, an interim CCO can step in while a permanent or fractional appointment is made.

Executive Search by Function and Sector

Exec Capital conducts executive search across all C-suite functions and all major UK business sectors. Our dedicated practice pages cover each function and sector in detail:

By function: CEO · COO · CFO · CMO · CTO · CIO · CAIO · CHRO · CCO · CPO · Chairman

By sector: Financial Services · Technology & Digital · Private Equity · Family Office · Fintech · Construction · FMCG & Retail · Public Sector · Leisure & Hospitality

What the search turns on, role by role

The method is the same for every role, but what decides a search differs. The table below summarises what we find matters most in practice.

Commercial leadership is where much of our search work sits: if you are hiring a sales leader, our sales director recruitment page covers that search in detail, and board-level appointments are handled through our board of directors recruitment practice.

Searching for senior roles in FCA-regulated firms

When the role is a senior management function at an FCA-regulated firm, the search has an extra stage: regulatory approval. The candidate must be fit and proper, the firm must submit an application, and the appointment cannot take effect until it is approved. That changes how the search is run. Approval readiness becomes part of the assessment, the regulatory reference process has to be started early, and the start date has to allow for the regulator’s decision.

• Approval timing. Under the Financial Services and Markets Act 2000 the regulator must decide a complete application within three months, with the clock stopping while it waits for information it has requested. Our guide to how long FCA SMF approval takes explains how to plan around it.
• Temporary cover. Following the FCA’s PS26/6 reforms to the Senior Managers and Certification Regime, in force from 24 April 2026, a firm covering an unexpected vacancy now has 12 weeks to submit an approval application for the replacement, and the cover can continue until the application is determined. The FCA’s follow-up consultation, CP26/37, proposes extending that period to 18 weeks.
• Which roles stay pre-approved. CP26/37 (with the PRA’s CP14/26) proposes moving some senior manager functions to a notification regime. The Head of Compliance (SMF16) and MLRO (SMF17) functions are proposed to stay pre-approved, as are the CEO (SMF1) and chair (SMF9).
• Firms outside SMCR. Payment and e-money institutions are not covered by SMCR. They appoint an MLRO under the Money Laundering Regulations, and the FCA assesses the people responsible for their management, but not as senior manager functions.

Our guide to SMF roles explains each function, and where a compliance officer or MLRO has left without notice, the guide to interim SMF16 and SMF17 cover sets out the practical steps.

What a new executive typically delivers in the first 90 days

A search is only as good as the first year that follows it, which is why we agree at briefing what the appointee should have achieved by the end of their first quarter. The detail depends on the role, but most successful senior appointments follow a similar shape.

• Days 1–30: listen and diagnose. One-to-ones with the board, the leadership team, key customers and, where relevant, investors and the regulator; a review of the numbers, the plan and the risks; early agreement on how the executive and the board will work together.
• Days 31–60: set direction. A written assessment of the business and the function, agreed priorities for the year, any immediate fixes to controls, reporting or team structure, and the first visible decisions.
• Days 61–90: deliver early results. A plan the board has approved, measures that will show progress, and one or two early wins that build credibility with the team.

We stay in contact with both sides through this period. Most problems in a new senior appointment show early and are fixable if raised quickly: unclear authority, a misunderstanding about scope, friction with a founder or investor. Our executive onboarding guide covers how to structure the first months, including induction, objectives and the first formal review.

Engagement and fees

We do not publish a standard fee because the right structure depends on the role, the format and the scope of work. What we can set out is how our engagements work, so you know what to expect before the first conversation.

• Retained search. Exec Capital is engaged exclusively on the role and commits dedicated research and search resource from the outset. The fee and how it is structured are agreed at briefing and set out in our terms before any work starts.
• Contingent recruitment. For some director-level roles a contingent arrangement is appropriate, where a fee is payable only if we introduce the person you appoint. We will tell you honestly at the first conversation which model suits your role.
• Interim and fractional. Interim and fractional executives are engaged on a day-rate basis. The day rate includes our fee, and you are invoiced only for days worked.
• What a retained search includes. Brief development, market mapping, direct approach, candidate assessment, a written shortlist report, interview management, referencing, offer and counter-offer management, and contact through notice period and onboarding.

Package levels are a separate question from fees. For a view of current pay across senior roles, see our executive salary guide, and for the structure of bonus, equity and notice terms, the guide to constructing an executive offer.

Who we place

Our clients are mostly businesses where a single senior appointment has a large effect on the outcome. Typical situations include:

• Private equity-backed businesses appointing or replacing a CEO, CFO or operating leadership after investment, ahead of a value-creation plan or before an exit — see our private equity executive search practice.
• Founder-led and owner-managed companies making their first external senior appointments, often a managing director or finance director, as the founder steps back.
• Scale-ups building a leadership team around a fundraise or rapid growth, frequently mixing fractional and permanent hires.
• FCA-regulated firms appointing approved persons, particularly compliance and MLRO roles, and the board members who oversee them.
• Family offices hiring investment, finance and operating leadership with high expectations of discretion.
• International businesses establishing or strengthening a UK presence and hiring a country leader or UK leadership team.
• Businesses in transition — turnaround, restructuring, acquisition integration or carve-out — where interim leadership is often the first step.

We work across the sectors listed above, with most of our search work in commercial leadership (managing directors, sales directors, CMOs and commercial directors), technology leadership (CTOs and CIOs) and finance leadership. Two of our clients have described working with the group in their own words:

Other ways to hire a senior leader

This page explains executive search as a method. Depending on where you are in your decision, one of our related pages may be more useful:

• Our executive recruitment hub lists every senior hiring service we offer, by role, sector and location.
• If you have decided on a search and are choosing a firm, our executive headhunters page sets out how to compare search firms and what to ask them.
• For the detailed mechanics — brief writing, market mapping, assessment and referencing — read the executive search methodology guide.
• For narrow or unusual briefs, our specialist search practice focuses on scarce skill sets.

Looking for a senior role yourself? If you are an executive considering your next move, please register with us as a candidate and browse our current opportunities. Many of the roles we work on are never advertised, so a confidential conversation with the team is the best way to be considered.

Frequently asked questions

What is executive search?

Executive search is a structured, research-led method of hiring senior leaders. The search firm agrees a brief with the client, maps the organisations and individuals who could do the role, approaches the best-matched people directly, assesses them in depth and manages interviews, referencing and the offer through to appointment. It is normally used for C-suite, board and senior director roles.

How is executive search different from recruitment?

Recruitment in general responds to the market: it advertises or draws on people already known to be looking. Executive search goes out to the market, approaching people who are not looking but are the strongest fit. It is typically exclusive, retained and much more thorough in assessment and referencing.

What is the difference between retained and contingency search?

In a retained search one firm is engaged exclusively and commits resource from the start, with fee terms agreed at instruction. In contingency recruitment a fee is payable only if the firm’s candidate is hired, and several firms may work the same role. Retained search suits senior, scarce or confidential roles; contingency suits roles with a good supply of active candidates.

How long does an executive search take?

It depends on the role, the size of the candidate market, your availability for interviews and the appointee’s notice period, which at senior level is often several months. We agree the timetable with you at briefing and report progress against it throughout. Where you need someone in post sooner, an interim appointment can cover the gap.

How much does executive search cost?

Fees are agreed at briefing and depend on the role, the format and the scope of work, so we do not publish a standard rate. For interim and fractional appointments the day rate includes our fee. We set out all terms in writing before any work starts.

Can a search be kept confidential?

Yes. Many of our searches are run without naming the client until a candidate has shown interest and agreed to confidentiality, and some are run while the incumbent is still in post. A single retained firm is much better placed to protect confidentiality than several agencies working the same brief.

Do you only work on permanent roles?

No. Exec Capital places executives on permanent, interim, fractional and part-time terms. If a permanent search is not the right first step — because you need someone immediately, or the role does not need five days a week — we will say so and suggest the format that fits.

Can you search for FCA-approved senior managers?

Yes. We search for senior management function holders, including compliance (SMF16) and MLRO (SMF17) roles, on permanent, interim and fractional terms. Approval readiness is assessed during the search, and the timetable allows for the FCA’s decision on the application.

What do you need from us to start?

A conversation with the person making the decision, an outline of the role and why it is open, the package range you have in mind, and an idea of the timetable. We turn that into a written brief and search plan for you to sign off. You can start by telling us about your hire online or by calling the team.

Related Services

Executive Headhunters · C-Suite Recruitment · Fractional C-Suite · Interim Executive Recruitment · International Executive Recruitment · Current Opportunities · Association of Executive Search and Leadership Consultants · Financial Reporting Council: UK Corporate Governance Code