CFO Recruitment

Chief Financial Officer Recruitment

Exec Capital recruits Chief Financial Officers for UK businesses across every stage and sector — from PE-backed portfolio companies at post-investment to FTSE-listed organisations managing complex multi-entity financial structures. The CFO appointment is among the most commercially consequential hires a board or investor makes. Exec Capital’s CFO practice operates on a retained, direct search basis — identifying and approaching specific individuals with demonstrable CFO-level track records in comparable businesses, rather than advertising and filtering responses.

For fractional CFO and Finance Director placements, Exec Capital works alongside its sister practice FD Capital — our group’s specialist in fractional CFO and Finance Director recruitment, placing finance leaders with UK businesses at every stage. If your requirement is part-time, fractional or interim finance leadership, FD Capital is the right starting point. If your requirement is a permanent or contract CFO at C-suite level, Exec Capital’s retained executive search practice is the right approach.

The Institute of Chartered Accountants in England and Wales sets the professional and ethical standards that many UK CFOs qualify and practise under, and treats the modern CFO as a strategic partner to the CEO rather than a scorekeeper. The UK Corporate Governance Code sets out specific expectations for financial reporting and risk governance that depend on CFO-level capability at board level.

CFO Recruitment Services

Exec Capital places CFOs across every engagement type. The right model depends on the stage of the business, the urgency of the requirement and the commercial challenge the CFO needs to solve.

Other ways to hire a CFO

This page covers permanent CFO search. If your requirement is different, start with the page built for it. An interim CFO covers a fixed-term, full-time assignment such as a sudden departure, a refinancing or a turnaround. A fractional CFO gives a growing business ongoing board-level finance leadership for part of the week. A part-time CFO suits a business that wants a regular, scheduled commitment on set days. A startup CFO is the first senior finance hire in an early-stage business. For investor-backed groups, see portfolio company CFO recruitment; for private wealth structures, family office CFO recruitment; and for groups operating across several countries, international CFO recruitment. If the business needs a hands-on head of finance rather than a board-level strategist, Finance Director recruitment is often the right search.

How CFO Recruitment Works

Every permanent CFO search we run moves through the same six stages. We agree the timetable with you at briefing, because the right pace depends on the seniority of the role, the notice periods candidates are likely to be serving and how quickly your board or investors can make themselves available for interviews.

Interim and fractional CFO assignments follow the same logic in a shorter form: the brief is tighter, the candidates are usually available sooner, and the focus shifts to who can make an immediate difference to a defined problem. Whatever the format, you deal with one team throughout, and Adrian Lawrence FCA oversees each mandate.

What a Retained CFO Search Involves

A retained CFO search conducted properly differs significantly from a contingency agency sending CVs. The distinction matters at CFO level because the candidate pool is narrow and fully passive — the best CFOs are employed, performing well, and not on job boards. A contingency approach reaches the wrong candidates or no candidates at all.

Brief development. Before any search activity begins, we understand the business’s financial structure, reporting obligations, investor relationships, the specific commercial challenge — whether that’s a fundraise, an exit, a restructuring or a growth inflection — and what success looks like in the first twelve months of the appointment.

Market mapping. We identify the universe of CFOs who have operated at an equivalent or greater level of complexity in comparable sectors and business stages. This mapping is the foundation of a quality search — it establishes what exists before anyone is approached.

Direct approach. Shortlisted candidates are approached directly and discreetly. Given the seniority of the role and the sensitivity of CFO-level moves, every approach is handled with the same professionalism we would expect if the candidate were being approached on our behalf.

Assessment and shortlist. Candidates are assessed against technical competence, commercial track record, stage experience, cultural fit and compensation expectations. You receive a shortlist of three to five candidates with a detailed assessment note on each — enough to make an informed decision on whom to interview.

Referencing and verification. Before an offer is made, we take structured references from people who have worked with the candidate as a CFO — chairs, CEOs, investors and audit partners where possible — and verify professional qualifications with the relevant body, whether that is the ICAEW, ACCA, CIMA or ICAS. We also check current and past directorships. At CFO level, a reference that tests how someone behaved under pressure (a missed covenant, a difficult audit, a failed sale process) tells you more than any interview.

Offer and resignation management. CFOs rarely move quickly. Notice periods are long, deferred bonuses and share awards may be forfeited, and the current employer will often try to keep them. We discuss these issues with candidates early, so that the package you offer reflects what they are giving up and the process does not fail at the final stage. For more on how we find and assess senior finance leaders, see our guide to CFO executive search strategies.

Permanent, Interim, Fractional or Part-Time: Choosing the Right CFO Format

Before starting a search, it is worth being clear which format the business actually needs. A permanent CFO is the right answer when the role is full-time and open-ended and the board wants the same person to own the financial strategy for years. Many businesses that call us for a permanent CFO are better served, at least at first, by an interim or fractional appointment — and some that ask for a fractional CFO have outgrown the model. The table sets out how the four formats compare.

A common pattern is to start with an interim or fractional CFO and convert to permanent once the business is clear about what it needs. That is a sensible route, not a compromise, and we plan for it from the outset where it is likely. Our guide to fractional, interim and permanent hiring sets out the trade-offs in more detail.

The Three CFO Profiles — and Why They Are Not Interchangeable

The most common CFO recruitment failure is hiring a technically excellent CFO into the wrong stage of business. Three distinct profiles dominate the market:

The builder CFO. Appropriate for businesses creating a finance function for the first time — typically pre-Series B or post-buyout businesses that have outgrown their financial controller. This CFO designs systems and processes, hires the team and establishes the reporting infrastructure. They are rarely the same person as the CFO who will lead the business through IPO or sale five years later.

The scaling CFO. Appropriate for businesses growing rapidly — managing working capital, building FP&A capability, managing investor relations across multiple funding rounds and keeping the board informed through a period of increasing complexity. UK Private Capital (formerly the BVCA), the industry body for private equity and venture capital, represents the investors who back these businesses, and in our experience sponsors treat the quality of the CFO as central to the value-creation plan during the scaling phase.

The transaction CFO. Appropriate for businesses approaching a defined liquidity event — exit, IPO, refinancing or acquisition. This CFO has managed due diligence processes, prepared businesses for buyer scrutiny and managed the working capital and reporting disciplines that determine exit value. Their track record in completed transactions is the primary assessment criterion.

Profiles also differ in temperament. A builder is comfortable with imperfect data and doing much of the work personally; a transaction CFO expects a capable team beneath them and spends much of their time with advisers, buyers and lenders. Asking one to do the other’s job is the root of many early CFO departures. We cover the other recurring problems in our guide to common CFO hiring mistakes.

CFO or Finance Director: Which Role Do You Need?

The titles are often used interchangeably, but in most UK businesses they describe different jobs. Hiring a CFO when the business needs a Finance Director (or the reverse) is one of the most expensive mismatches we see, because the person is either under-used and leaves, or out of their depth and is replaced.

If the honest answer is that the business needs strong financial control and reliable monthly numbers more than it needs a capital markets strategist, a Finance Director is the better hire and usually a less expensive one. Our guide on when a firm needs a CFO and when it needs a Finance Director works through the decision, and some smaller businesses go further and combine the CFO and COO roles.

CFO Recruitment for PE-Backed Businesses

Private equity sponsors have specific and well-defined CFO requirements that differ from corporate businesses. EBITDA accountability, weekly cash reporting, covenant compliance, lender relationships and the specific working capital disciplines of a leveraged structure all require a CFO who has operated in a PE-backed environment before — not one who is learning its conventions while the investment clock is running.

Exec Capital places CFOs with PE portfolio companies from immediately post-completion — where the sponsor needs finance leadership in place before day 100 — through to exit preparation, where the CFO is a central figure in the sale process itself. We also place fractional CFOs into PE portfolio companies; see how fractional executives fit into PE-backed firms.

The Invest Europe private equity activity statistics consistently place the UK among the largest private equity markets in Europe — creating sustained demand for CFOs with PE portfolio experience that consistently outstrips supply. The best PE-experienced CFOs are always employed and always passive. Direct search is the only methodology that reaches them.

Timing matters as much as profile. A CFO change is often written into the investment thesis, and the incoming CFO is expected to deliver the first board pack, the reforecast and the reporting the sponsor and lenders need within the first quarter. Where the outgoing CFO is leaving at completion, we frequently pair a permanent search with an interim CFO who holds the seat in the meantime. Our wider portfolio company executive recruitment practice covers the CEO, COO and other leadership hires that tend to follow, and our article on what PE firms get wrong in the first 100 days sets out the common pitfalls.

Hiring a CFO for an FCA-Regulated Firm

If the business is authorised by the Financial Conduct Authority, the CFO appointment may need regulatory approval before the person can start. Which senior management function (SMF) applies depends on the type of firm, and getting this wrong delays the hire. Under the Senior Managers Regime:

• SMF2 Chief Finance function applies to banks, building societies, PRA-designated investment firms, insurers and FCA solo-regulated firms in the Enhanced category. At these firms the CFO must be approved as SMF2 before taking up the role.
• SMF3 Executive Director is the relevant function at Core firms, where SMF2 does not exist. A CFO who sits on the board of a Core firm as an executive director is approved as SMF3.
• A CFO who is not on the board of a Core firm is not a senior manager. The firm must still be satisfied that they are fit and proper, and the Certification Regime may apply to the role.
• Payment and e-money institutions sit outside the Senior Managers and Certification Regime. The FCA assesses the people responsible for managing them, but not as SMFs, and these firms appoint an MLRO under the Money Laundering Regulations.

The FCA and PRA must decide a complete application within three months under section 61 of the Financial Services and Markets Act 2000, and the FCA’s published median for senior manager approvals in 2025/26 was 25 days. Our guide to how long FCA SMF approval takes explains what slows applications down. Since the Phase 1 SMCR changes in PS26/6 came into force on 24 April 2026, temporary cover sits in SUP 10C.3A.6R: a firm has 12 weeks to submit an application for someone covering an SMF role, and cover can continue until the regulator decides. The FCA’s CP26/37 consultation (with PRA CP14/26) proposes extending that to 18 weeks and moving several SMFs to notification only; SMF2 and SMF3 are proposed to remain pre-approved. The consultation closes on 22 January 2027.

For a board CFO at a Core firm, our SMF3 executive director hiring guide covers the approval steps. Many smaller regulated firms hiring a CFO also need compliance cover at the same time. SMF16 Compliance Oversight and SMF17 Money Laundering Reporting Officer stay pre-approved under the proposals, and both are often filled on a fractional basis — see our fractional compliance officer, fractional CCO, interim CCO and fractional MLRO services.

What a New CFO Typically Delivers in the First 90 Days

The first three months set the tone for the whole appointment. A good CFO will not try to change everything at once, but by the end of the first quarter the board should be able to see a clear difference. The shape usually looks like this.

Days 1–30: understand the numbers and the people

• A clear view of the cash position, with a short-term cash flow forecast the CFO trusts.
• Meetings with the auditors, the bank or lenders, and the main shareholders or sponsor.
• An assessment of the finance team, the month-end close and the systems underneath it.
• A list of the risks that need attention now: covenant headroom, tax exposures, overdue filings, weak controls.

Days 31–60: stabilise and fix what is urgent

• A board reporting pack that tells the directors what they need to know, with agreed KPIs.
• A reset of the forecast, so the board is working from realistic numbers.
• Early improvements in working capital: debtor collection, supplier terms, stock.
• Decisions on any immediate team changes or gaps that need filling.

Days 61–90: set the plan

• A finance function roadmap covering people, systems and controls for the next 12 to 18 months.
• A view on capital: whether the business is funded for its plan and, if not, what the options are.
• Input into strategy, pricing and investment decisions alongside the CEO.
• For investor-backed businesses, a clear line of sight to the value-creation plan and the exit.

We encourage clients to agree these expectations with the CFO before the offer is signed, so that both sides judge the first quarter by the same measures. Our executive onboarding guide covers how to set a new leader up to succeed.

Published Research & 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 peer-reviewed 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 his experience in executive finance recruitment since 2018, and reflect Exec Capital’s commitment to evidence-based, practical solutions. Our searches draw directly on these principles so that shortlists align with real-world strategic needs.

Exec Capital operates in accordance with recognised executive search standards and professional recruitment best practices. We support the principles outlined in the UK government’s executive search code of conduct.

Compensation and Package Structure

CFO compensation in UK businesses varies significantly with business size, ownership, sector and the complexity of the financial environment. Rather than quote ranges we cannot source, here are published reference points and an outline of how CFO packages are usually put together.

• The broad market. The ONS Annual Survey of Hours and Earnings (2026 provisional) puts median gross annual pay for full-time financial managers and directors (SOC 1131) at £80,000. That category includes many roles below CFO level, so board-level CFOs in investor-backed and larger businesses typically sit well above it.
• Listed companies. KPMG’s Guide to Directors’ Remuneration (February 2026) reports median base salaries for finance directors of £600,000 in the FTSE 100 and £439,000 in the FTSE 250, before bonus and long-term incentives.

Most CFO packages are built from the same components, weighted differently by ownership:

• Base salary, set against the size and complexity of the business and the candidate’s current package.
• Annual bonus, usually tied to EBITDA, cash and personal objectives.
• Long-term reward: an LTIP in a listed company; sweet equity or co-investment alongside the sponsor in a PE-backed business; share options, often through an EMI scheme, in a startup or scale-up.
• Pension, benefits and notice terms, which matter more than many boards expect when a candidate is giving up a settled position.
• Buy-outs of bonuses or share awards the candidate forfeits by leaving — see our guide to buying out deferred compensation.
• Regulated firms: the bonus cap on bankers’ pay was removed from 31 October 2023, and the FCA (PS25/15) and PRA (PS21/25) have since reformed remuneration rules, which affects how variable pay and deferral are structured for CFOs at banks and investment firms.

The equity component in PE-backed businesses can represent a multiple of the base salary in value at exit — making the structure of management equity one of the most commercially important elements of a CFO appointment in a PE context. Exec Capital provides market rate benchmarking and can introduce specialist remuneration advisers where required. For interim and fractional CFOs, pay is a day rate that depends on seniority, sector and assignment complexity; see our CFO salary guide for current context. For detailed CFO and Finance Director salary data, see the FD Capital CFO salary guide.

How CFO Search Engagements and Fees Work

We do not publish fee scales, because the right structure depends on the role and the format. The fee structure is agreed with you at briefing, in writing, before any search work starts. What we can set out is how each type of engagement works.

• Retained search (permanent CFOs). You engage us exclusively to run the search. That commitment is what allows us to map the market properly and approach CFOs who are not looking, rather than forwarding whoever happens to be available. Almost all of our permanent CFO work is retained.
• Contingent recruitment. A fee paid only on placement, usually with several agencies competing. It can work for roles below director level, but at CFO level it tends to produce active job seekers rather than the best candidates. Our guide to retained versus contingent executive search explains the difference in detail.
• Interim and fractional CFOs. These are charged on a day-rate basis. The day rate you pay includes our fee, so there is no separate placement charge on top. Most interim and fractional CFOs work through their own limited company, and for medium and large clients the off-payroll (IR35) status determination is the client’s responsibility. HMRC has confirmed that the recent change to the company size thresholds has no practical effect for off-payroll working until 6 April 2027 at the earliest.

Whichever route you choose, the work includes the written brief, market mapping, direct approaches, candidate interviews and assessment notes, interview scheduling and feedback, referencing and qualification checks, offer negotiation and support through notice and onboarding. Where the role needs FCA approval, we help prepare the candidate’s side of the application.

Who We Place CFOs With

Our CFO clients are usually the CEO, chair, founder or investor who will work most closely with the new finance leader. Typical situations include:

• Private equity-backed businesses at completion, mid-hold or preparing for exit.
• Venture-backed scale-ups moving from a financial controller or fractional CFO to a full-time finance leader ahead of a larger funding round.
• Owner-managed and family-owned businesses preparing for growth, succession or sale, and family offices building their own finance teams.
• Listed companies on the Main Market or AIM that need a CFO able to handle investor relations, market disclosure and audit committee scrutiny.
• FCA-regulated firms such as wealth and asset managers, brokers and fintechs, where the CFO may need approval as SMF2 or SMF3.
• International groups appointing a CFO for their UK business or a UK-based group CFO.

Sectors we regularly recruit into include technology and software, manufacturing and engineering, construction and property, professional services, healthcare, consumer and retail, logistics, and financial services, including fintech. We work from our offices in London (Great Portland Street) and Cannock in the West Midlands and place CFOs across the UK. Where the business also needs a new CEO or COO, our C-suite search practice can run the searches together so that the leadership team is built as a whole.

Frequently Asked Questions

How much does CFO recruitment cost?

For a permanent CFO, we work on a retained basis and agree the fee structure with you at briefing, before any work starts. For interim and fractional CFOs, you pay a day rate that already includes our fee. We do not quote a single figure because the scope, seniority and format of CFO searches vary widely.

How long does it take to recruit a CFO?

It depends on the role, the market and, above all, the notice period of the candidate you choose — CFOs often have long notice periods and may need to agree a handover with their current board. We agree the search timetable with you at briefing. If the seat cannot be left empty, an interim CFO can cover it while the permanent search runs.

What is the difference between a CFO and a Finance Director?

A Finance Director usually runs the finance function: reporting, controls, cash and audit. A CFO sets financial strategy, manages the capital structure and works with investors, lenders and acquirers. Larger businesses often have both, with FDs reporting to the CFO. The comparison table above sets out the differences.

When does a business need a CFO rather than a financial controller?

Usually when it takes outside investment, borrows significantly, plans an acquisition or sale, operates across several entities or countries, or when the board needs a finance leader who can contribute to strategy rather than simply report on it. Many businesses bridge the gap with a fractional CFO first.

Should we hire a permanent, interim or fractional CFO?

Permanent if the business needs a full-time finance leader for the long term. Interim if there is a defined, urgent task or a gap to cover. Fractional if the business needs senior judgement but not five days a week. We will give you a straight view on which fits at the first conversation, even if that means recommending a format other than the one you called about.

What qualifications should a CFO have?

Most UK CFOs hold a professional accountancy qualification — ACA, ACCA, CIMA or ICAS — and we verify it before any offer. For a listed or regulated business, a recognised qualification and audit or regulatory experience are close to essential. In some growth businesses, commercial and fundraising track record matters as much as the letters after the name.

Does our CFO need FCA approval?

Only if the firm is FCA-authorised and within the Senior Managers Regime. At banks, insurers and Enhanced firms the CFO needs approval as SMF2. At Core firms, a CFO on the board is approved as SMF3 Executive Director. Payment and e-money institutions are outside SMCR. See the regulated-firm section above for more detail.

Can a fractional or interim CFO become permanent?

Yes, and it is a common route. Working together for several months gives both sides a far better view than any interview process. If conversion is likely, we discuss the terms at the outset. Our guide to moving from fractional executives to full-time hires covers how to plan the transition.

Do you recruit CFOs outside London?

Yes. We work from London and Cannock and recruit CFOs for businesses across England, Scotland, Wales and Northern Ireland, including hybrid and largely remote roles where the business is set up for them.

What does a CFO actually do?

The CFO owns financial strategy, planning and forecasting, capital and funding, risk and controls, reporting to the board and investors, and leadership of the finance team. Our CFO job description sets out the responsibilities in full and can be used as a starting point for your brief.

Looking for a CFO role?

If you are a CFO or senior Finance Director considering your next move, please register with Exec Capital so we can contact you about relevant searches, and see our current opportunities. Many of our CFO searches are confidential and are never advertised.

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