Interim

Exec Capital places interim executives across all C-suite and Director functions: Chief Executives, Chief Operating Officers, Chief Financial Officers, Chief Technology Officers, Chief Marketing Officers and the full range of senior leadership roles. When a leadership gap opens suddenly, or when a business needs experienced executive capability for a defined period, an interim appointment is often the right answer. Because we keep in regular contact with experienced interim executives across every function, we can move quickly once a brief is agreed, and we agree the timetable with you at the briefing stage.

Interim leadership is now a mainstream part of how UK businesses manage change. Boards and investors use interim executives to cover sudden departures, lead transactions and turnarounds, and deliver defined programmes of change, often bringing in someone who has done the same job several times before. In FCA-regulated firms, interim cover for Senior Manager Functions, above all SMF16 Compliance Oversight and SMF17 Money Laundering Reporting Officer, is one of the most frequent and most time-critical requests we handle.

Interim C-Suite Executive Recruitment

Our interim C-suite practice covers every function. Each role below has its own page explaining when businesses use an interim in that role, what a good candidate looks like and how we run the search.

Interim Director-Level Recruitment

Below the C-suite, we place interim Directors across all functions. Director-level interim appointments are increasingly common as businesses use them to fill functional gaps, lead specific projects or hold a role steady while they decide on the long-term structure, without committing to permanent headcount before they are ready.

Director-level interims are often the more proportionate answer for owner-managed and mid-sized businesses. A company with a single finance lead, for example, may not need an interim CFO at all: an interim Finance Director who can run the month-end, manage the bank and prepare the business for its next stage will often be the better fit, at a lower day rate and with a wider pool of available candidates. We will tell you plainly at the brief stage if we think the level of the role should be different from the one you first had in mind.

Interim SMF16 and SMF17 Cover for FCA-Regulated Firms

For FCA-authorised firms, the most urgent interim requirement is usually not a CEO or CFO but the compliance and money laundering functions. Under the Senior Managers and Certification Regime, SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer) are senior management functions that need FCA approval before someone can hold them on a permanent basis. When the approved holder resigns, goes on long-term leave or is moved aside, the firm has to keep those functions covered and show the regulator a credible plan to fill them.

Our interim Chief Compliance Officer and interim MLRO practices exist for exactly this situation. We introduce experienced compliance and financial crime professionals who have held SMF16 or SMF17 before, who understand the firm’s permissions and business model, and who can take over the compliance monitoring plan, the MLRO annual report, suspicious activity reporting and regulator correspondence without a long handover. Where the departure was sudden and the firm needs someone in the seat this week, our urgent SMF appointment service is the fastest route in.

How temporary cover works under the rules

The FCA rules for approvals sit in SUP 10C of the FCA Handbook. Since the first phase of SMCR reforms (PS26/6) came into force on 24 April 2026, a firm that needs to cover an SMF because of a temporary or reasonably unforeseen absence can appoint someone without prior approval, provided it submits an approval application within 12 weeks (SUP 10C.3A.6R). Once that application is in, the cover can continue until the FCA makes its decision. The FCA and PRA consultations published in October 2026 (FCA CP26/37 and PRA CP14/26) propose extending the 12 weeks to 18 weeks; the consultation closes on 22 January 2027, so firms should plan on 12 weeks until final rules are published.

The same consultations propose moving several SMFs, mostly committee-chair and other governance roles at Enhanced and dual-regulated firms, from pre-approval to notification. SMF16 and SMF17 are not among them: they remain pre-approved roles, so an interim compliance officer or MLRO who is expected to stay beyond the temporary window still needs a full approval application. Under section 61 of the Financial Services and Markets Act 2000 the FCA must decide a complete application within three months, and the clock stops while it waits for information it has asked for. In practice the FCA reported a median of 25 days for senior manager applications in 2025/26, with a lower quartile of 14 days and an upper quartile of 41 days (FCA operating service metrics). A well-prepared Form A, with criminal record checks and regulatory references in hand, makes the biggest difference to where in that range an application falls.

Two points catch firms out. First, payment institutions and e-money institutions are outside SMCR altogether: they do not have SMF16 or SMF17 holders, but they must still appoint an MLRO under the Money Laundering Regulations, and the FCA assesses the persons responsible for management under the payment services and e-money regimes. The interim brief for those firms is just as urgent, but the approval route is different. Second, smaller firms often combine compliance oversight and MLRO in one person; whether an interim can or should hold both depends on the firm’s size and risk, which our guide to SMF16 vs SMF17 and combined roles covers in more detail.

Not every compliance gap needs a full-time interim. Many smaller firms, including the IFAs, brokers, consumer credit firms and investment firms we work with most often, are better served by a fractional Chief Compliance Officer or a fractional compliance officer working one or two days a week, with a fractional MLRO alongside or combined in the same person. Fractional SMF16 and SMF17 appointments are among the most common mandates across our group, and an interim assignment often converts into a longer-term fractional arrangement once the immediate pressure is off.

When Interim Executive Recruitment Is the Right Solution

Interim appointments fit a wider range of situations than most organisations first consider. These are the most common:

Unplanned departure. The most common trigger. When a CEO, CFO or other senior leader leaves unexpectedly, the organisation needs leadership cover immediately while a permanent replacement is found. A good permanent search for a senior role often takes several months once notice periods are included, and an interim executive covers that gap.

Transaction support. Acquisitions, fundraising rounds, secondary buyouts and exit preparation all need executive capacity the existing team may not have. An interim CFO who has led several similar transactions can be more valuable in this situation than a permanent hire who has never managed one.

Turnaround and transformation. ERP implementations, operational restructuring, digital transformation and post-merger integration all benefit from a leader who has delivered the same kind of programme elsewhere and can apply that experience without a learning curve. See our turnaround executive recruitment page for more.

Regulatory cover. In FCA-regulated firms, many senior roles are Senior Manager Functions under the Senior Managers and Certification Regime. Where an SMF holder leaves, the firm may need interim cover to keep its governance in place while the permanent search runs, and the temporary cover rules described above set a 12-week window to submit an approval application. Our guide to interim SMF16 and SMF17 cover explains how this works for compliance and money laundering roles.

Testing a new role before a permanent hire. Where a business is creating a new senior role for the first time, such as a first Chief Compliance Officer, Chief AI Officer or Chief People Officer, an interim appointment lets it define what the role really needs to deliver before making a permanent commitment.

Long-term absence. Maternity and parental leave, sickness and sabbaticals create a known gap with a known end date. An interim who is used to holding a seat for someone else, and handing it back in good order, is the natural answer, and the same logic applies when a senior leader is seconded to a group project for several months.

Investor-led change. Private equity houses and other investors often want an experienced interim in place quickly after a deal, or when a portfolio company is off plan, to stabilise reporting, deliver the value creation plan or prepare for exit while the longer-term leadership team is settled. Our guide to executive hiring in PE-backed businesses covers how investors approach these appointments.

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

The first decision is not who to hire but which format fits. Most businesses we speak to have a gap that could be filled in more than one way, and the right choice depends on how urgent the need is, how much of the week it needs, how long it will last and whether the business can yet commit to permanent cost. This is how the four formats compare.

In regulated firms, the same choice applies to the compliance function; our article on permanent, interim or fractional compliance hires walks through it. Many businesses use more than one format in sequence: an interim to steady things, a permanent search running alongside, and sometimes a fractional arrangement afterwards to keep access to the interim’s experience at lower intensity.

Which Interim Role Do You Need?

Job titles vary between businesses, and some C-suite acronyms mean different things in different organisations. The table below sets out how we use each title, the situations that most often lead to an interim appointment in that role, and where to go for the permanent equivalent.

A few titles deserve a note. On this site CSO means Chief Sustainability Officer; if you need someone to lead corporate strategy, see our Head of Strategy recruitment page instead. CDO most often means Chief Data Officer, covered by our CDO recruitment page. And CRO can mean either Chief Risk Officer or Chief Revenue Officer: the interim CRO page covers both, so tell us at the brief which one you mean, because the candidate pools barely overlap.

How an Interim Assignment Works

Interim assignments move faster than permanent searches, but the same discipline applies. A clear brief and a well-matched candidate matter more than speed alone. At a glance, the process runs in six stages, and we agree the timetable with you at briefing:

1. The brief

We start with a conversation about the situation: what has happened, what the interim needs to achieve, who they will report to, how long the assignment is likely to last and how many days a week it needs. The more precise the brief, the faster we can put the right people in front of you.

2. Candidates

Our search team approaches interim executives who have handled the same kind of situation before and checks their availability, day rate and fit before introducing them. You receive a short list of candidates with a clear summary of each, so you can interview quickly.

3. Interview and agreement

Interim interviews are usually short and focused: can this person deliver what the business needs in the time available? Once you have chosen, we agree the day rate, the expected length of the assignment, the notice period on both sides and the contracting arrangement. Most interim executives work through their own limited company or an umbrella company, and the off-payroll working (IR35) rules need to be considered for each assignment.

4. Start, review and handover

Many interim executives can start at short notice once terms are agreed. We stay in touch with you and the interim through the assignment, and when the permanent appointment is made we help plan a clean handover. Many interim assignments end with the interim helping to recruit and onboard their permanent successor.

What to Look For in an Interim Executive

The best interim executives are different from strong permanent candidates. They need to make an impact from the first week, build trust with a team they have not chosen, and leave the business in better shape than they found it. When we assess interim candidates we look for:

• Directly relevant experience. Someone who has handled the same situation, at a similar scale and in a similar ownership structure.
• Pace. A track record of quickly diagnosing what matters and acting on it.
• Judgement with boards and investors. Interims often report to a chair, investor or parent company under pressure, and need to manage that relationship well.
• Strong references from recent assignments. We take detailed references, as set out in our reference checking guide.
• A genuine interim mindset. Career interims are comfortable building something they will hand over. A permanent executive between roles may be excellent, but may also leave the moment a permanent offer arrives elsewhere; we ask the question directly.
• Regulatory standing where it matters. For SMF roles we check prior approvals, the firms and permissions they covered, and anything that would complicate a fitness and propriety assessment, before you meet them.

What an Interim Executive Typically Delivers in the First 90 Days

Every assignment is different, but the shape of the first three months is consistent enough to plan around. Setting it out at the brief stage gives the board and the interim a shared view of what success looks like, and makes it easier to judge whether to extend, convert or close the assignment.

Weeks one to two: diagnose and stabilise

A strong interim spends the first fortnight listening and checking: meeting the leadership team, key customers, lenders or the regulator where relevant, reviewing the numbers and the risk register, and identifying anything that needs immediate action. In a crisis they will act on the most urgent items straight away, such as cash, a regulatory deadline or a key customer at risk, while keeping the board informed.

Weeks three to six: agree the plan

By the end of the first month the interim should present a written plan to the board or investor: what they have found, what they recommend, what they will deliver during the assignment and what they need from the business to do it. For a regulated firm, this is often where an interim compliance officer sets out the revised compliance monitoring plan, or an interim MLRO confirms the state of the financial crime framework and any remediation needed.

Weeks seven to twelve: deliver and build

The second half of the first 90 days is about visible progress against the plan: a stabilised month-end close, a refinancing term sheet, a restructured operating model, a cleared backlog of regulatory actions or a reset sales pipeline. Good interims also start building the team that will outlast them, coaching direct reports and documenting processes so the business is not dependent on them when they leave.

At day 90: review

We encourage clients to hold a formal review around the three-month mark. The options are usually clear by then: extend the assignment because the work is not finished, move to a fractional arrangement for continuity, convert the interim to a permanent role if both sides want it, or start the handover to a permanent appointee. Our executive onboarding guide covers how to set up any senior hire to succeed, and most of it applies equally to interims.

Interim vs Fractional Executive: What’s the Difference?

The terms are sometimes used interchangeably, but the difference matters commercially.

Interim executives usually work full-time or close to full-time for a defined period, typically three to twelve months. The engagement is time-bound and the executive is dedicated to your business for its duration. This suits requirements that are urgent, complex or need full-time presence to deliver.

Fractional executives work part-time, often for more than one business at once, typically one to three days a week per engagement. This suits businesses that need experienced executive leadership at a level they cannot yet justify full-time, or where the need is ongoing rather than for a defined period.

We place both. See our fractional C-suite practice for the full range of fractional services, and our fractional, interim or permanent guide for help deciding which model fits your situation.

How Quickly Can Exec Capital Place an Interim Executive?

Speed depends on the role, the seniority and how quickly a clear brief is agreed. We do not promise a fixed timescale, because the honest answer depends on the brief and on who is available that week, but as a guide:

C-suite (CEO, COO, CFO, CMO, CTO): experienced interims at this level are used to short-notice starts, and we can often introduce suitable candidates soon after an agreed brief. The best interim executives are in demand and are often committed elsewhere within weeks, so a clear brief and quick interview decisions make the biggest difference.

Regulated roles (compliance, risk and MLRO roles in FCA-regulated firms): the search itself can move quickly, but where the role is a Senior Manager Function the firm will need to allow time for FCA approval before the interim can hold the function on a long-term basis. Where the cover is for a temporary or reasonably unforeseen absence, the temporary cover rules allow the firm to appoint first and submit the approval application within 12 weeks, as explained above.

Director level (HR, Finance, Operations, Sales): the candidate pool is broader and availability is usually higher than at C-suite level, so these roles can often be filled fastest. For permanent leadership appointments, see our Managing Director recruitment and executive search pages.

Engagement and Fees

Interim fees work differently from permanent search fees, and it is worth being clear about the structure before the first introduction. We agree the fee structure with you at the briefing stage and confirm it in writing before we start.

• Interim and fractional assignments are priced on a day rate. The day rate you pay includes our fee. You receive one invoice per period for the days worked, and there is no separate placement fee for the interim assignment itself.
• Permanent searches are run on a retained or contingent basis, depending on the seniority, the confidentiality required and how hard the role is to fill. Our guide to retained and contingent executive search explains the difference and when each makes sense.
• What is included. Briefing, market mapping, candidate approach and screening, a written summary of each shortlisted candidate, reference checks, negotiation of the day rate and terms, and contact with you and the interim through the assignment.
• Conversion to permanent. If you later want to hire the interim permanently, the terms for that are set out in the engagement agreement from the start, so there are no surprises.
• Rates. Day rates depend on the role, seniority, sector, location, the days per week and how long the assignment is expected to last. We give you a clear view of the current market range for your specific brief rather than a headline figure that may not apply.

For permanent pay benchmarks, our C-suite salary guide and SMF salary guide set out sourced figures for the main leadership roles.

IR35 and Contracting for Interim Executives

Most interim executives contract through their own limited company, so the off-payroll working rules apply to almost every assignment. Where the client is a medium or large organisation, or a public sector body, the client is responsible for deciding whether the off-payroll rules apply and for issuing a status determination statement to the interim and anyone else in the contractual chain. Where the client is a small company, the interim’s own company makes that decision.

Whether a company counts as small follows the Companies Act size thresholds. Those thresholds were raised for financial years beginning on or after 6 April 2025, to turnover of £15 million, a balance sheet total of £7.5 million and 50 employees (a company is small if it meets two of the three). HMRC has said the change will have no practical impact for off-payroll working until 6 April 2027 at the earliest, because company size is judged by reference to earlier years (HMRC Employer Bulletin, April 2025). Do not assume a change in status before then.

Senior interim roles can fall either side of IR35 depending on the facts: who controls how the work is done, whether the interim can send a substitute, whether they are integrated into the business like an employee, and the wider terms of the engagement. An interim CEO who manages the whole workforce and sits on the board is in a different position from an interim programme lead delivering a defined project. We discuss the likely status at the brief stage, and our article on IR35 rules for senior executive engagements sets out the main factors. Where an assignment is inside IR35, the interim can be paid through an umbrella company or directly through payroll.

Who We Place Interim Executives With

Our interim clients are mostly UK businesses between owner-managed and mid-market scale, together with the investors that back them and the FCA-regulated firms that need senior manager cover. Typical situations include:

• Private equity and venture-backed companies that need an interim CEO, CFO or COO after a deal, during a value creation plan or ahead of exit.
• FCA-regulated firms, including IFAs and wealth managers, insurance and mortgage brokers, consumer credit firms, investment firms, fintechs and payment firms, that need interim compliance, MLRO or risk leadership.
• Owner-managed businesses where the founder needs an experienced operator to run the business through growth, a succession or a sale.
• Subsidiaries of international groups that need a UK managing director or finance lead while a permanent appointment is made.
• Businesses in difficulty that need turnaround, restructuring or cash management leadership quickly.
• Not-for-profit, education and membership organisations that need interim finance, people or operational leadership through a period of change.

Sectors include manufacturing and engineering, technology and software, financial services, professional services, construction and property, consumer and retail, logistics, healthcare, and energy. We work across the UK from our offices in London (Great Portland Street) and Cannock, and many assignments combine time on site with remote working.

Getting the Most From an Interim Appointment

Interim assignments succeed or fail on the set-up as much as the person. A few practical steps make a large difference:

• Give the interim real authority. Be clear about what decisions they can take without referring back, and tell the team they have the board’s backing.
• Write down the objectives. Three to five outcomes agreed at the start, reviewed monthly, keep everyone focused and make the day-90 review straightforward.
• Run the permanent search in parallel where needed. If the interim is covering a gap, start the permanent process early so the assignment does not drift; the interim can often help shape the brief.
• Plan the exit from day one. Agree how knowledge will be handed over, who will own each workstream afterwards and what documentation the interim will leave.
• Keep the regulator informed where relevant. For SMF cover, keep a clear record of the dates of the absence and the cover arrangement, and diarise the 12-week deadline for any approval application.

The role of an interim director is covered in more detail in our guide, including the common challenges interims face in their first weeks and how boards can help.

For Interim Executives Seeking Assignments

If you are an experienced interim executive, compliance officer or MLRO looking for your next assignment, register with us so our team knows your availability, sector experience and any SMF approvals you have held, and see our current opportunities. We introduce interims only to roles that match their experience, and we will always ask before sharing your details with a client.

Frequently Asked Questions

How long do interim assignments last?

Most last between three and twelve months. Cover for a departure usually runs until the permanent appointment starts; transaction and transformation assignments run until the work is delivered. Assignments can be extended by agreement.

How are interim executives paid?

Interim executives are usually paid a day rate, invoiced monthly, through their own limited company or an umbrella company. The rate depends on the role, seniority, sector and length of the assignment, and we will give you a clear view of the market rate at the brief stage.

Can an interim executive become permanent?

Sometimes, if both sides want it. Some businesses use an interim appointment to test fit before making a permanent offer. Others prefer to keep the two separate so the interim can make difficult decisions without worrying about their own position. We will talk this through with you at the start.

Do you place interim executives outside London?

Yes. We place interim executives across the UK from our offices in London and Cannock, and many assignments combine time on site with remote working.

What is interim executive recruitment?

It is the search for, and placement of, an experienced senior leader on a temporary basis, usually full-time for a defined period, to cover a gap or deliver a specific outcome. Unlike a permanent search, the focus is on who is available now and has done the same job before.

How much does an interim executive cost?

Interims are paid a day rate that reflects the role, seniority, sector and length of assignment, and the rate we quote includes our fee. Because the range is wide, we give you a current market view for your specific brief at the briefing stage rather than a generic figure.

Can an interim hold an SMF16 or SMF17 role?

Yes. Where the cover is for a temporary or reasonably unforeseen absence, the firm can appoint the interim and must submit an approval application within 12 weeks under SUP 10C.3A.6R; the cover can then continue until the FCA decides. If the interim will stay longer term, a full approval application is needed, as SMF16 and SMF17 remain pre-approved roles.

Do payment and e-money firms need an SMF17?

No. Payment institutions and e-money institutions are outside SMCR, so they do not have SMF holders. They must still appoint an MLRO under the Money Laundering Regulations, and we place interim and fractional MLROs for these firms.

Is an interim executive inside IR35?

It depends on the facts of each engagement. For medium and large clients, the client decides and issues a status determination statement; for small companies, the interim’s own company decides. We discuss the likely position at the brief stage.

What is the difference between an interim and a consultant?

A consultant usually advises and the business decides. An interim takes on the executive role itself, with the authority, accountability and team that go with it, and is judged on what gets delivered.

Related Services

Fractional C-Suite · C-Suite Recruitment · Executive Search · Part-Time CEO · Private Equity Recruitment · Turnaround Executive Recruitment · Current Opportunities · FCA SM&CR · FD Capital: Interim CFOs