Press

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.

Click to read full article.

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.

Click to read full article.

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

July 1, 2017 -

 

mississauga.com: 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.

Click to read full article.

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 -

Buzzfeed.com:

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.

Click to read full article.

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

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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.

Click to read full article.

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.

Click to read full article.

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 zoom.ai, 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.

Click to read full article.

INFINZ Awards: Celebrating the best in finance

May 20, 2017 -

 

nzherald.co.nz: 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.

Click to read full article.

Why companies struggle to cultivate digital strategies

May 17, 2017 -

 

CIO.com: 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

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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.”

Click to read the full article.

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:

Summary

  • 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 -

 

Bizjournals.com: 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.
(more…)

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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…)

Leadership Void: Change Agents Sought for Life Sciences Sector

January 26, 2016 -

Hunt Scanlon Media:
Given the integration of technology into all facets of everyday life, the healthcare industry is not alone in facing technology-related issues. These take on increased importance when they impact health, disease diagnosis, treatment and, ultimately, human longevity. Having the right leaders in place to sort through these complex challenges, say recruiters serving the sector, is critical — especially those with vision and transformational skills.

“We’re seeing more and more receptivity to leaders from a variety of backgrounds, not just IT, because of the necessity to have a breadth of knowledge and experience,” said Jim Bethmann, managing partner at Caldwell Partners.

One outcome Caldwell Partners has delivered is a new chief executive officer for Health2047, a new start-up backed by a $15 million investment from founding partner American Medical Association (AMA). It is aimed at harnessing Silicon Valley expertise and innovation to help solve key problems in the healthcare field.

Leading the search assignment were Darin DeWitt, managing partner of Caldwell’s life science and healthcare practice, and Mr. Bethmann, who oversees the firm’s TMT & IT services and information security practices.

“It was a unique and fascinating search, looking for a leader who can leverage the strength and history of the AMA in identifying and developing novel early stage companies,” said Mr. DeWitt.

(more…)

How the Liberal ‘revenue neutral’ tax plan could cost billions and push top talent south

January 15, 2016 -

Financial Post: OTTAWA — The cornerstone of the Liberal campaign platform was a pledge to grow the economy and create jobs by putting more cash into the hands of middle-class Canadians through aggressive new tax measures.

But that policy pillar — to be supported by higher tax payments by the country’s biggest wage earners — could be crumbling, less than three months post-election.

“The typical ‘one per cent’ are in positions that have more mobility in their roles,” says Les Gombik at Caldwell Partners, a global executive recruitment firm in Calgary.

“They are typically executives that are making greater dollars, and those are often the types of roles where they could do those types of roles in different markets,” he says, adding that the drop in the value of the loonie compared to the U.S. dollar was already inspiring people to look south of the border. (more…)

Lackluster Bonuses May Lead Fund Pros to Jump Ship

January 11, 2016 -

Ignites.com, A Financial Times Serivce: Fund professionals who receive lower bonuses for 2015 may jump ship to bump up their base salaries to compensate for the reduced pay, say several industry recruiters.

Managers are forced to take a harder look at the performance of their team members when bonus pools shrink, says recruiter Glenn Buggy, a New York– and Stamford, Conn.-based partner at Caldwell Partners.

“When things are going great, it’s easy just to pay everybody,” he says. “But when things are tough, it makes [professionals] really earn their money.” (more…)

Former Ashley Madison CEO touts ‘philanthropic generosity’ as he looks for work with new website

January 4, 2016 -

National Post: Noel Biderman’s new website touts him as a lawyer with experience as a corporate executive, responsible for “$100’s of Millions in profits and EBITA.”

Biderman also happens to be the former chief executive of the cheating site Ashley Madison, resigning in August after hackers dumped members’ personal information online.

Biderman has not spoken to the media since news of the hack broke and did not respond Monday to a request for comment. Elan Pratzer, managing partner of Canada at the executive search firm Caldwell Partners, said employers generally take a dim view of prospective hires who leave obvious gaps on their resumes. (more…)

Reaching for the top rung on the compensation ladder

December 10, 2015 -

Financial Post: Compensation for CFOs in Canada has climbed to as much as US$27 million as executives take on more strategic roles in companies.

The combined salary 10 of the highest-paid CFOs in the country came in at about $80 million, according to calculations made from a recent Report on Business (ROB) ranking. That’s the equivalent to what Taylor Swift made, or closer to home, Justin Bieber, according to the Forbes celebrity list.

Finding the right talent for an organization’s specific needs is becoming more challenging, said Toronto-based Elan Pratzer, managing partner at executive search firm Caldwell Partners. (more…)

Headhunters woo low-cost Venezuela talent amid crisis

August 5, 2015 -

Reuters: Headhunters across Latin America are tapping Venezuela for low-cost professionals as a deepening economic crisis has left many skilled workers earning less money than taxi drivers and waiters.

Highly-trained Venezuelans are seeking to escape a decaying socialist economy in which they often have to work second jobs and spend hours in line to buy basic goods such as milk or diapers.

The crisis has created a fertile market for global search firms including Korn/Ferry (KFY.N), Caldwell Partners (CWL.TO) and Stanton Chase as well as smaller regional companies. (more…)

Legal Marketing Market – Michael DeCosta (Caldwell Partners)

June 30, 2015 -

New York Legal Marketing Association: Michael DeCosta has helped shape the legal marketing profession for nearly two decades by placing many of the leaders in our field in their jobs.

Michael is a partner at Caldwell Partners, one of the top executive search firms, where he leads the firm’s Professional Services practice out of its Stamford, CT office.

Along with other executive recruiters, Michael has an interesting vantage point of the legal marketing industry as well as the legal marketing talent market. His line of sight into law firm 2.0 has made him a sought-after speaker on professional services and legal career management, including the recent LMA Annual Conference in San Diego.

In the first edition of our new Legal Marketing Market feature, Mike DeCosta shared his insights on our business with Catherine Hausman. (more…)