Scourge of Outdated Software Creates Massive Cyber Risk

September 19, 2017 -


CIO Journal: The massive cyber breach at Equifax Inc. illustrates how data thefts often stem from the failure to keep software up to date, an essential element of security that experts say can confound enterprise technology executives.

Technology experts at Equifax worked earlier this year to identify and patch vulnerable systems after Cisco Systems Inc. reported an online security flaw that allowed hackers to break into servers. They discovered months later, though, that the same flaw still existed in some areas, and by then, it was too late.

“We’re at a point where it’s not just the CISO that goes down in these major breaches,” said Matt Comyns, managing partner of the cybersecurity practice at executive search firm Caldwell Partners International Inc. “This may be a trend for the future that says security is a team sport and not just an isolated silo.”

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CISO 2.0: The Leadership Qualities Required by Today’s Chief Information Security Officers to Dominate the Discussion at the 2017 Atlanta CISO Executive Leadership Summit

September 8, 2017 -


HMG Strategy: ATLANTA, GA – September 8, 2017 – Once relied upon solely to protect the enterprise’s information security assets, Chief Information Security Officers (CISOs) have taken on more expansive roles in driving business innovation, aligning security with business goals, and in shaping the organization’s risk tolerance. The opportunities and challenges posed by these developments, along with the leadership traits needed to succeed in today’s ever-changing cyber landscape, will be the key topics of discuss at the upcoming 2017 Atlanta CISO Executive Leadership Summit  produced by HMG Strategy, to be held on September 27, 2017 at The St. Regis Atlanta.

Prominent speakers at the summit will include Michael Anaya, Supervisory Special Agent, FBI; Tamika Bass, Chief Information Security Officer, Georgia Department of Public Health; Matthew Comyns, Managing Partner, Cyber Security Practice, Caldwell Partners; Mignona Cote, CISO Aetna International, CISO PayFlex, Sr. Director/Business Compliance Officer, Global Security, Aetna; Gene Fredriksen, CISO and CEO National Credit Union ISAO, PSCU; John Iannarelli, Former Senior Executive Advisor, FBI;Christopher Mandelaris, VP, Chief Information Security and Privacy Officer, Chemical Bank; Israel Martinez, Chairman Global Manufacturing ISAO & CEO, Axon Global; and Phyllis Schneck, Managing Director and Global Leader of Cyber Solutions, Promontory Financial Group, an IBM Company.

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Private credit managers go far and wide for expertise

September 4, 2017 -


Pensions&Investments: Private credit managers are on a hiring spree.

Recruiters said demand from money managers for senior executives, portfolio managers, analysts and marketers with private credit know-how is running high.

“We’re definitely seeing an uptick in recruitment,” said Paul Heller, the New York-based managing partner and head of the financial services practice of executive recruiter Caldwell Partners International.

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Revealed: What NZ’s top executives are paid

August 12, 2017 -


New Zealand Herald: Chief executives at New Zealand’s biggest companies got a pay rise of 3.3 per cent last year – the lowest increase since 2011.

The Business Herald’s annual CEO pay survey reveals that chief executive pay for the 2016 financial year averaged $1,732,802, up 3.34 per cent from $1,676,757 the previous year. In the survey’s 12-year history, the lowest CEO pay increase was recorded at just 0.4 per cent in 2011.

Simon Monks, managing partner of Caldwell Partners, has seen the same trend.

“The last couple of years has been good for New Zealand business,” says Monks. “If you look at the way the economy is performing, and when you look around the world – and this is part of the reason why New Zealand executives are returning – it isn’t a bad place to be.”

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A New Dawn for Public-Private Sector Cyber Collaboration to Power the Discussion at the 2017 Washington, D.C. CISO Executive Leadership Summit

August 1, 2017 -


HMG Strategy: WASHINGTON, D.C. – August 1, 2017 – As Chief Information Security Officers (CISOs) seek deeper threat intelligence and effective approaches for tackling increasingly sophisticated cyber-attacks, savvy security leaders recognize the value of sharing information and best practices across the public and private sectors. Recommendations for improving information sharing along with the leadership traits needed to succeed in today’s treacherous cyber landscape will fuel the discussion at the upcoming 2017 Washington, D.C. CISO Executive Leadership Summit, produced by HMG Strategy, to be held on September 21, 2017 at the W Washington D.C.

Prestigious speakers at the summit will include Aileen Alexander, Senior Client Partner – Co-Leader Global Cybersecurity Practice, Korn Ferry; Dr. Edward Amoroso, Founder & CEO, TAG Cyber LLC; Nicolas M. Chaillan, Senior Advisor for Cybersecurity, FEMA; Matthew Comyns, Managing Partner, Cyber Security Practice, Caldwell Partners; Mignona Cote, CISO Aetna International, CISO PayFlex, Sr. Director/Business Compliance Officer, Global Security, Aetna; Kirsten Davies, Group Chief Security Officer, Barclays Africa Group; Esteban Deleon, Chief Executive Officer, Renegade Strategies Corporation; Joseph Dyer, Chief Information Security Officer, ICF International; Hugo Fueglein, Managing Director, Diversified Search; John Iannarelli, Former Senior Executive Advisor, FBI; Alissa Johnson, VP & CISO, Xerox; Wanda Jones-Heath, Deputy Chief Information Security Officer, United States Air Force; Israel Martinez, Chairman Global Manufacturing ISAO & CEO, Axon Global; Matthew McCormack, VP & CISO, Virtustream; Hunter Muller, President & CEO, HMG Strategy; Phyllis Schneck, Managing Director and Global Leader of Cyber Solutions, Promontory Financial Group, an IBM Company; Stephen Spagnuolo, Managing Director, CyberSecurity Recruitment & Leadership Advisory Practice, ZRG Partners, LLC; Gregory Touhill, President, Cyxtera Federal Group, Cyxtera Technologies; and James Turgal, Executive Assistant Director, Information and Technology Branch, FBI.

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Lead, Reimagine, Reinvent – Driving a Culture of Genius Will Capture the Conversation at the 2017 Boston CIO Executive Leadership Summit

July 31, 2017 -


HMG Strategy: BOSTONJuly 31, 2017 /PRNewswire/ — In today’s fast-changing business environment, a company’s ability to quickly identify and respond to customer and market shifts is paramount for survival. The CIO’s ability to deliver the courageous leadership needed to reimagine and reinvent the business and to foster a culture of genius will be the top discussion points at the upcoming 2017 Boston CIO Executive Leadership Summit, produced by HMG Strategy, to be held on September 12, 2017 at the Seaport Hotel and World Trade Center.

Distinguished speakers at the summit will include Rich Adduci, Global CIO, National Grid; Don Anderson, SVP & CIO, Federal Reserve Bank of BostonShawn Banerji, Managing Partner, Technology, Digital and Data Leaders Practice, Caldwell Partners; Andrew Bertera, Executive Director of Marketing, New England Biolabs; Bill Brown, CIO & CISO, Veracode; Tracy Cashman, Senior Vice President and Partner, WinterWyman Executive Search; Hugo Fueglein, Managing Director, Diversified Search; Ken Grady, VP & CIO, IDEXX Laboratories; Tom Harvey, VP & CIO, Alkermes, Inc.; John Iannarelli, Former Sr. Executive Advisor, FBI; Sean McCourt, Founder & Managing Director, Longford & Company; Hunter Muller, President & CEO, HMG Strategy; Anthony Philippakis, Chief Data Officer, Broad Institute and Partner, Google Ventures; Mark Polansky, Senior Partner, CIO/IT Officers Practice, Korn FerryFrank Price, Vice President and Chief Information Security Officer, CVS Health; Dan Puterbaugh, Senior Legal Advocate, Adobe; Meredith Rosenberg, Technology and Digital Transformation Practice, Russell Reynolds Associates; James Satterthwaite, Partner, Technology & Communications, Egon ZehnderBrian Shield, VP, IT, Boston Red Sox; and James Turgal, Executive Assistant Director, Information and Technology Branch, FBI.

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Global Cybersecurity Study Explores Talent Needs



Hunt Scanlon Media: A new report reveals how progressive companies are keeping cyber intruders at bay. Here’s the first of a two-part look at the changing face of cybersecurity leadership. The threat of cyber attacks, and the damage they can cause, continues to grow. As technology develops and companies evolve, cyber hoodlums find more ways into the systems of organizations, raising the potential to wreak havoc. What took years to build can be destroyed in just a short time. The costs on so many fronts are astronomical. Meeting the challenge is critical for any organization’s protection and even its survival.

Matt Comyns, managing partner of the cybersecurity practice at Caldwell Partners, who was not involved in the study, agreed that it is vital for organizations to look beyond mere humans for protection. “In today’s sea of data and cyber alerts, human beings simply don’t scale without leveraging analytics and automation,” he said. “Like in other aspects of business, it is vital to invest in intelligent systems to handle the complexity of our digital environments.”

Also a critical differentiator for organizations: being able to attract, develop and retain top talent, he said. “By reducing complexity and automating as many individual tasks and analyses as possible, talent is freed up to perform their most meaningful work. This leads to better organizational performance and improved morale/ retention.”

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Home Capital names mortgage industry veteran as new CEO

July 12, 2017 -

The Globe and Mail: Troubled mortgage lender Home Capital Group Inc. has chosen Yousry Bissada, a 57-year-old executive with experience in the mortgage industry, as its chief executive officer.

Since 2011, Mr. Bissada has been CEO of Kanetix Ltd., a firm that sources insurance quotes and helps financial services firms with digital tools. But he has also led a leading software provider to the mortgage industry, and has experience working inside big banks, including a brief stint as senior vice-president of real estate secured lending products at Toronto-Dominion Bank in the late 1990s.

Hiring a new chief executive was a crucial step in the company’s turnaround plan. After a crisis of confidence sparked a run on Home Capital’s deposits earlier this year, pushing Home Capital to the brink, a refreshed board of directors secured support from revered investor Warren Buffett, whose firm Berkshire Hathaway Inc. is now the largest shareholder. With Mr. Buffett behind it, the alternative mortgage lender began to see money from depositors flow back into the company.

The search for a new CEO was led by executive search firm Caldwell Partners International Inc.

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Leveraging the Benefits of a Cyber Advisory Board in a Tight Market

July 11, 2017 -


HMG Strategy: By now, everyone is well aware of the acute shortage of cyber security talent. The infamous Target breach of 2013 and the current-day widespread ransomware attacks have been a wakeup call, and major companies across all industries have embraced the need for installing a dedicated cyber security team and program.

This increased awareness has put incredible pressure on the limited existing human capital pool for this functional area. Further complicating matters, the head of cyber security role (often the Chief Information Security Officer, or CISO) has been elevated in organizations as the perceived risk of a cyber breach has become one of the top enterprise concerns. The role has evolved from what had been a lower-level tactical IT role to a more strategic enterprise risk role. Thus, the profile of a CISO has had to change to keep pace with the expanded scope of the role.

As you can imagine, the new CISO job requirements which extend to enterprise risk management have further narrowed the number of available executives capable of fulfilling the new mandate.

So, what is the market to do?

Caldwell Partners is rolling out such a service this month with a lot of support from industry leaders. The more companies that get behind this kind of strategy the better. We need to spread the talent around and grow cyber executives as fast as we can, and this is a practical way to combat the ever-growing threat around the world. Time is of the essence, and the market needs creative solutions to solve the problem.

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Promising UTM professor appears on firm’s ‘Top 40 Under 40’ list

July 1, 2017 - University of Toronto Mississauga (UTM) Professor Patrick Gunning has been named to a Canada’s Top 40 Under 40 list by Caldwell Partners.

The executive search firm announced its honourees June 28.

“It’s an honour to be named to a list of such distinguished people,” Gunning said in a UTM news release about the award.

Hundreds of professionals under the age of 40 were nominated this year. The award is open to Canadian citizens or permanent residents who work in a leadership role in private, public, or non-profit sectors, the company states. Athletes, artists, and politicians are not eligible.

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Canada’s Top 40 Under 40: Highlighting Canada’s up-and-coming leaders

June 28, 2017 -


BNN: Who are Canada’s next top crop of leaders? BNN takes a look at our nation’s top 40 under 40 with Elan Pratzer, managing partner for Canada at Caldwell Partners and and John Hughes, senior vice-president and national private enterprise leader at MNP.

Click the watch video.

Can Uber Convince Silicon Valley’s Best To Be Its New CEO?

June 27, 2017 -

As Uber looks for a new leader, the presence of former CEO Travis Kalanick on its board could prove to be one of its biggest challenges.

The ride-hail giant’s board began searching for a new chief executive after Kalanick resigned last week. Candidates for the top post are likely to ask Uber for a fuller version of former attorney general Eric Holder’s internal investigation into the company’s culture and full transparency around its litany of legal battles, including a federal investigation into a software tool that was used to evade authorities in places where the company’s service was restricted, the handling of a rape victim in India’s medical records, and a trade-secrets lawsuit with a major self-driving car rival. And the board will also have to explain how much latitude a new CEO would get, given that Kalanick will remain on the board, and is part of the search committee.

“If Travis remains involved in the company on a regular basis and maintains a controlling share of the company and an active board seat, it’s unlikely they’re going to be able to bring in the CEO who can make the kind of changes one would want to see here,” said Mercedes Chatfield-Taylor, a managing partner at the executive search firm Caldwell Partners.

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Wanted at Uber: A CEO Who Can Do Pretty Much Everything



The Wall Street Journal: The most tantalizing CEO job now open in the tech world also may be the toughest.

Travis Kalanick’s abrupt resignation as chief executive of Uber Technologies Inc. has kicked off a search for a leader to run the world’s most valuable startup. His successor, though, will have to contend with scandals on numerous fronts, a leadership team gutted by executive departures and ousters, and a workplace culture widely criticized for being permissive of sexual harassment and sexism.

Jim Bethmann, head of the high-tech practice at recruiters Caldwell Partners International , said another tech-industry veteran, Hewlett Packard Enterprise chief Meg Whitman, is well-qualified to run a complex global enterprise like Uber but she likely wouldn’t do so.

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Will GE stay on digital path following CEO’s departure?

June 20, 2017 -


TechTarget: General Electric is losing its greatest digital advocate and CIO ally. What now?

That was the salient question when Jeffrey R. Immelt announced this week that he was stepping down on August 1st as GE’s chairman and CEO, after serving 16 years at the helm.

“Jeff Immelt was a catalyst for GE’s pivot to becoming a digital enterprise. He took over a workforce that had been indoctrinated through adherence to process excellence and was able to instill a culture of creativity and innovation,” said Shawn Banerji, managing partner for the Technology, Digital and Data Leaders practice at Caldwell Partners.

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Toronto tech firms seeing more interest from U.S. job seekers — and not just because of Trump

May 24, 2017 -


CBC: Last month, Roy Pereira, CEO of Toronto startup, received so many applications for a software engineering position from U.S.-based job seekers that he thought they were fake.

“I thought it was maybe bots spamming us,” he remembered, noting only about one per cent of the company’s past applications had come from the States.

The applicants he interviewed, many of whom were living in Silicon Valley, praised Toronto’s tech scene and expressed doubts about how they’d fare under the mercurial immigration policies of U.S. President Donald Trump.

“There was a burgeoning high tech revival [in Toronto] happening aside from the Trump election. Without a foundation of that [sector], there would be nothing to come here for,” said Elan Pratzer, a managing partner at executive search firm Caldwell Partners.

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INFINZ Awards: Celebrating the best in finance

May 20, 2017 - Last night the business community celebrated the best in finance at the Institute of Finance Professionals New Zealand (INFINZ) Awards held at Auckland’s Langham Hotel.

Rod Duke, managing director of Briscoe Group, won the supreme Caldwell Partners Leadership Award for his contribution to the retail chain.

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Why companies struggle to cultivate digital strategies

May 17, 2017 - Companies cultivating digital strategies are struggling to facilitate transformations because most CIOs are simply not equipped to be digital leaders. While enterprise CIOs can create functional technology systems, many lack the visionary skills required to be a change agent in the digital age, according to Shawn Banerji, managing partner of the technology, digital and data leaders practice at Caldwell Partners.

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How CIOs and CISOs Raced to Defend Corporate Networks as WannaCry Erupted



The Wall Street Journal: CIOs and security chiefs say the scope and intensity of the global cyberattack that has hit more than 150 countries since Friday will mark a turning point in the way that corporations approach network security, and that staffing, investment, and policy all will come under review.

Matt Comyns, managing partner of the cybersecurity practice at executive search firm Caldwell Partners International Inc., said he spoke with a CISO Monday whose team worked 12-hour shifts over the weekend defending his company’s systems.

That CISO he spoke to also fielded two phone calls from his CEO and one from the chairman of the board, who served on the board’s audit committee. The company contacted the Federal Bureau of Investigation and global police forces, and worked with legal and PR teams to determine how the company would respond if hit, Mr. Comyns said. As of this morning, the firm was “still on hyper alert,” he said.

“This nimbleness and well coordinated effort show how important it is to be ready and have a plan,” Mr. Comyns said. “You have to be willing to drop what you’re doing and mobilize.”

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Toronto Region Board of Trade & Caldwell Partners to host a leadership forum connecting Canada’s Top 40 Under 40® Award Recipients

March 15, 2017 -

Toronto Region Board of Trade:

Toronto, ON, March 15, 2017—Toronto Region Board of Trade is excited to announce its participation in Canada’s Top 40 Under 40® Awards, founded and managed by Caldwell Partners. This Fall, the Board will host a leadership forum connecting 2017 award winners and alumni. (more…)

Why You Should Own This 8% Yield Play With A Rock Solid Balance Sheet And Growing Business

February 16, 2017 -
Seeking Alpha:


  • Caldwell is a tiny executive search company that is profitable, has a resilient balance sheet, strong capital allocation, and is growing internationally.
  • When stocks are this cheap the best catalyst, in our experience, is time. The 8% dividend doesn’t hurt either.
  • We think this stock should be trading 50% above its current level, and even then it would be an attractive investment.

Caldwell Partners (OTC:CWLPF) has been growing sales at a 14% CAGR for the past decade, has 75% of its market cap in cash, no debt, and trades on an LTM P/E net of cash of just 3.3x (EV/EBITDA around 2.9x). Want more? (more…)

The importance of the beginning — 4 must-dos to improve employee onboarding.

October 18, 2016 -


CREANDUM: Sourcing, interviewing, evaluating, negotiating and closing candidates is what most people define as recruiting. But one of the most fundamental parts of any complete recruiting process also involves onboarding the new hire onto your organization. Onboarding is the structured way get a new employee to a fully contributing team member. During this time period, an employee’s output is often negative because they consume resources from the rest of the organization. But don’t do the common mistake of disregard the onboarding process’ importance.

Click here to read Creandum’s blog post, which give some of their best practices and some insights from Mercedes Chatfield-Taylor, managing partner of our Private Equity & Venture Capital Practice.

“Successful onboarding requires a strong foundation and a transparent plan. This requires a commitment on the part of the full organization.” — Mercedes Chatfield-Taylor, Managing Partner at Caldwell Partners.

Torstar CEO David Holland to step down later this year

July 6, 2016 -


The Globe and Mail: The president and chief executive officer of Torstar Corp., David Holland, will retire later this year, paving the way for a new regime to take charge of the company that publishes the Toronto Star at a difficult stage in its history.

Torstar announced Wednesday that Mr. Holland, 58, who joined the company in 1986 and has served as CEO for seven years, will leave this fall. A search for his successor is under way.

Some industry veterans see Lorenzo DeMarchi, Torstar’s chief financial officer, as one of the leading internal candidates, but Torstar will also look outside its ranks with help from the executive search firm Caldwell Partners.

Click to full story.

Gateway Media CEO leaves company for West Coast

June 22, 2016 - Gabe Douek, the chief executive officer of Gateway Media since the Clayton-based tech startup was spun off from Answers Corp. in 2014, has left the company. Douek said he and his wife moved after his wife found a job on the West Coast. Douek said he’s currently exploring new opportunities. According to his LinkedIn account, he’s started a consulting business in the digital and internet marketing space.

Gateway Media owns a portfolio of entertainment and culture websites and reported $58 million in revenue last year. This year, the company projects $74 million in sales.

Tom Hillman, chairman of Gateway Media’s board, said the company has hired executive search firm Caldwell Partners to find a new CEO. “We have a great team… and the company is having record performance over the last few months,” he said in an email. (more…)

Hiring the best executive ‘athlete’ benefits women (and maybe men)

June 4, 2016 -

Globe and Mail: Caldwell’s Elan Pratzer proposes we change our approach to the search for senior talent – especially as it relates to women – and focus on hiring the best “athlete” – the most skilled, even if not the most experienced.

Doors will open wider for women if we give them access to opportunities they are currently denied not because of prejudice, but because of perceived risk mitigation. If we properly weight the value of skill over experience, more women will compete as best athletes. Better-skilled men will also benefit and our companies will be stronger for it.


My Son’s Autism Inspired Me to Run Marathons

April 7, 2016 -

Everyday Health: By Chris Beck, Special to Everyday Health

Hi, I’m Chris. My wife, Melissa, and I have an 11-year-old son, Owen Honor Beck. He’s awesome. Owen has an equally awesome twin sister, Jessica.

Unfortunately, Owen and Jessica don’t get to see each other much anymore. That’s because Owen has autism, and an awful lot of communication and behavioral challenges. Some of his behaviors got to be so challenging that about 18 months ago, we placed him in a residential program where he now lives with some other really great kids with autism. (more…)