India-Based Financial Services Firms Merge

September 27, 2018 – India-based executive search firm Vito India Advisors has merged with Altor Executive Search, a search firm based in India, to form VitoAltor Advisors LLP.

In a combined statement, Vito and Altor said the new entity will be India’s largest financial services executive search specialist (by market share). It will serve over 200 clients in India across mid-market corporates and financial institutions.

Altor was founded by a team of bankers turned entrepreneurs and focuses on the Indian banking and financial services industry.

Vito India Advisors was founded in 2006. The group said it partners with an exclusive set of banking, manufacturing, consumer, pharma, life sciences, infrastructure, manufacturing and engineering clients to fulfill their human capital needs across all functional areas.

Larger Platform

“The partners and teams of Vito and Altor have entered into a binding agreement to form a larger platform – VitoAltor Advisors LLP,” said Saket Jain, founding-partner of Vito India Advisors, and Supreet Singh, founder of Altor Executive Search, in a combined statement. “A technical arrangement involves the merger of Altor with Vito.”

Reuben Mistry, CEO of Vito India will be the new CEO of the new merged entity. The firm will commence joint operations starting on Oct. 1 but will take about three months to be fully integrated. The new firm will have a combined strength of 60-plus search consultants in Mumbai and New Delhi.

“Vito has been consistently making efforts to bolster its executive search business across varied domains within financial services and the larger industry segment,” said Mr. Jain. “This merger is one such step in our journey. We will continue to expand organically across sectors and selectively look at inorganic situations to springboard our platform across the human capital services domain.”

Mr. Singh said: “We will triple our go-to-market and coverage capabilities with this transaction. The combined firm will help us with deeper sectoral coverage and functional specialization, which will enable us to present wider solutions to our clients.”

Recent Mergers

Executive search firms have seen a rise in mergers in recent months. Here’s a look at a few from the Hunt Scanlon Media archives:

New Zealand-headquartered executive search firms SandriWalsh Limited in Wellington and Rosenberg Executive Search Limited in Auckland have merged to create SWR Group NZ Limited. SWR covers all leadership roles, permanent and contract, from directors and C-suite on down. Graeme Sandri, Tony Walsh and Suzannah Moller are based in Wellington, while Tim Rosenberg and Nicole Walkinshaw are in Auckland.

San Francisco-headquartered Riviera Partners has merged with Alpha Advisors, a boutique search firm specializing in senior information technology and quantitative talent for financial services and technology clients. Its founder and executive search veteran Jeff Campbell has joined Riviera to drive continued expansion. He will lead Riviera Partners’ new Atlanta location.

FaithSearch Partners, an executive search firm for faith-based organizations, has merged with Halftime Talent Solutions, a recruitment firm that serves mission-motivated non-profit and for-profit clients. The union creates a wider resource base through their combined networks. Based in Dallas, the new search firm will operate under the FaithSearch Partners brand.

Consultants from three executive search firms have joined forces to launch a new search platform, HealthSearch Partners, specializing in identifying and placing transformational, mission-minded CEOs and senior leaders in healthcare systems. HealthSearch Partners combines the leadership of CES Executive Search, FaithSearch Partners and Southerland Partners.

CMP, a talent development and transition firm, has merged with Atlanta-based coaching firm The Frontier Group. Frontier, which has a 31-year track record of delivering individual career transition solutions, redeployment solutions and executive coaching, will operate under the CMP brand.

Orthopedic and spine-focused executive search firm Othoexecutive and Crowther Ballantyne Associates have merged. The collaboration of the U.K.-based operations brings together 33 years’ experience in executive search, and 18 years’ experience in the medical device industry in sales and marketing functions.

DES Recruitment has merged with U.K.-based Miramar Global Executive Search. For the past 15 years, DES Recruitment has identified and attracted senior-level executives for clients nationwide. Miramar Global has forged a reputation serving U.S. multinationals in the Americas as well as across EMEA and Asia.

Gibson Consultants, a recruiter that serves healthcare payers and digital health companies, has merged with its affiliate, Enterprise Recruiters, a recruiting firm also focused on digital health companies. The combined company, which will keep the Gibson Consultants name, has also opened an additional office in Wilmington, NC.

Asset management executive recruiters Grace Point Partners and BraddockMatthews have merged. The joint firm will continue to serve clients across traditional and alternative asset management, including hedge fund, private equity, endowment and foundation, and family office organizations. The firm will be known as BraddockMatthews and have offices in Manhattan and Boston.

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media

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