Non-Executive Director Search for a Major UK Retail Group

The business

A major UK retail group, with several well-known brands, was building out its financial services offer. It had set up a new regulated subsidiary and had obtained the necessary FCA permissions. The business was in the middle of migrating its existing regulated activity into the new entity.

The brief

The subsidiary's board was almost complete. An independent chair, a group representative NED and the executive lead for financial services were already in place. The group needed one final appointment: an Independent Non-Executive Director who could provide challenge and strategic insight to the executive team.

The role was a significant one. The successful candidate would:

• Bring independent judgement on governance, customer value, conduct and sustainable commercial performance

• Oversee regulated activity, with a close eye on FCA requirements and Consumer Duty

• Monitor and challenge risk management, internal controls and compliance, and contribute to the Audit and Risk Committee agenda

• Add insight on customer acquisition, retention, marketing strategy and the use of customer data and digital channels

• Help keep the subsidiary aligned with the wider group while maintaining the independence expected of a regulated entity

The profile was demanding. It called for senior executive or board-level experience in retail financial services, ideally in a regulated, consumer-facing business. Added to that was a background in consumer and digital marketing or commercial growth, familiarity with SMCR, Fin Prom and Consumer Duty, and the integrity and influencing skills to work well across executive and non-executive colleagues. It was a three-year appointment with a modest meeting calendar, so the people with the right credentials were senior, busy and rarely actively looking.

Our approach

NED searches are a different discipline from executive hiring, and as a research-led recruiter this is where we are at our best.

Mapping the field. We researched the market for senior leaders and existing board members across retail banking and consumer finance, with particular attention to those who had worked in regulated distribution businesses and group subsidiary structures.

Testing for the whole profile. Regulatory knowledge alone was not enough. We looked for the combination of governance credibility, customer and marketing insight, and the temperament to challenge constructively without losing the confidence of the executive team.

Approaching with care. Candidates at this level are often already on boards and are cautious about speaking to recruiters. We kept our approaches discreet, well informed and respectful of their time.

Why we loved this one

This was a great piece of work. The brief was clear and interesting, the business has a genuine ambition to do financial services in a distinctive way, and the role offered something meaningful to the right person. It also played to our strengths: careful research, thoughtful conversations and a focus on fit over volume.

Working on a day rate model also meant we could give the search the time it deserved, rather than being driven by a fee that depends on speed.

Why it matters

• Board roles need judgement, not volume: A small number of well-researched, well-qualified conversations beats a long list of names.

• Regulated businesses need specialist insight: Understanding the regulatory context lets us have credible conversations with candidates.

• Discretion matters: Confidential, senior-level searches depend on trust on both sides.

Looking to strengthen your board?

We would love to do more NED and board-level work. If you are recruiting an independent director or building out a board, talk to us about how we could support you.