November 2, 2018 – Options Group, headquartered in New York and with offices in 14 major markets around the world, is on track for a record year. Revenues and headcount are way up, according to a spokesman. The search firm, a global talent provider to the financial services sector, offers market intelligence, talent mapping and strategic consulting advice to a host of blue chip clients. The firm reached a longevity milestone in 2018, celebrating 25 years in business.
“Our growth continues to be exponential across products and regions,” said chief growth officer Richard Stein. “Our leading technologies and new products & services have allowed us to enlarge our conversations within the C-suite of financial services and technology companies globally and the future requires us to infuse talent management with applied predictive analytics. We’re now called in not just to hire, but to onboard, develop and retain the best talent.” The reward for clients, he noted, will be reduced talent turnover and to grow better decision makers.
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No. 1 Imperative: Talent
Recruiters in the search industry continue to climb the ladder within their respective firms. But nowhere is this more apparent than at Options Group. It recently announced the promotion of 40 employees, including two new managing partners and eight new partners. The firm boasts 47 percent diversity in the ranks of its professionals, one of the highest seen in the recruiting sector.
“We congratulate all of these individuals for their dedication, leadership and productivity,” said Mike Karp, CEO of Options Group. “Talent is our No. 1 imperative and through our internal training and development programs we are creating the next generation of recruiting talent. We continue to outperform our peers and this year the firm is on track to be well in the Top 10 of all financial specialists globally.”
Options Group believes the path to long-term success is achieved through cultivating teamwork and mentorship, and maintaining a meritocracy-based culture. “Our promotion program not only acknowledges those that continue to increase their contribution to the firm, but also serves as an incentive, a goal and an aspiration for the entire organization,” said Bob Reed, Options Group president. “We thank these individuals and our global team for allowing us to exceed our objectives and continue to improve the firm’s brand in the global marketplace.”
Among those promoted to managing partner: Alan Blum, New York; and Russell Kopp, Hong Kong.
Among those promoted to partner: Anil Sharma, Mumbai; Diana Herpel, Frankfurt; Jan Veder, Frankfurt; Maria Aldous, London; Mattias Lorentzi, Tokyo; Simi Schaerer, Zurich; Anthony Mainolfi, New York; and Tom Cleary, New York.
Among those promoted to executive director: Amit Kapoor, New York; Andrew Samson, London; Aron Kidane, New York; Brian Palabrica, New York; Bruno Supino, Sao Paulo; Dave Kim, New York; Florence Krief, London; Lauren Leibson, New York; Lili Parvizian, London; Pat Harman, New York; Stuart Halfen, Sydney; Sandy Tang, Hong Kong; and Will Bond, London.
Among those promoted to director: Benny Li, Hong Kong; Dalfi Vakharia, Mumbai; Eugene Farberov, New York; Keith Arner, New York; Phoebe Ling, Hong Kong; and Sid Dabbara, New York.
Among those promoted to vice president: Ajay Bissessar, New York; Christian Fessler, New York; Chris Westerlind, New York; Greg Mejia, New York; Jiayin Li, New York; Joanne Lin, New York; Luis Olivo, New York; Richard Haddad, Hong Kong; Sanket Lambade, Mumbai; and Vivian Fan, New York.
Among those promoted to associate: Kishan Dass, New York.
Chief Growth Officer
Mr. Stein, who joined Options Group four years ago, was promoted to his current role as chief growth officer in 2016. It was a newly created position. As part of his expanded duties, Mr. Stein was put in charge of developing and implementing programs and management processes designed to accelerate Option Group’s revenue and profitability growth globally. He serves as a member of Options Group’s partners operating committee and acts as global head of OG iQ, a division of the firm that provides leadership development, corporate culture and performance management assessments and other consulting services. Mr. Stein also oversees OG University, the firm’s professional development and certification business.
Chief growth officer is a relatively new C-level position within organizations — and while not every company has one, more are likely to emerge. A search on LinkedIn of the title generated more than 2,100 results recently.
“The CGO role is growing and it’s rising in popularity, especially among professional services firms that understand client needs and who want to be front and center to achieve long term revenue growth and stay competitive,” said Mr. Stein. “The CGO is free to challenge the status quo in order to discover new pathways to growth. But the position holder also leads their organizations to a heightened sense of responsibility and purpose.”
Recruiters focused on luring C-suite leadership to their corporate clients say that CEOs have created the position of chief growth officer to drive revenue growth at times of slowing economic activity. But CEOs are now seeing advantages in bringing growth leaders into their C-suite much earlier, when business is booming, in order to establish the necessary rigor that chief growth officers bring with them.
“CGOs are there to discover new pathways to growth,” said Mr. Stein. “In today’s global, digital world, there’s suddenly this imperative to focus on growth at the highest possible level. Many companies think about growth in the context of quarterly earnings, or in terms of meeting current demand. The benefit of having a CGO is the ability to develop a longer term vision.” That is exactly what CEO Mike Karp likely has in mind.
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