June 1, 2020 – Chief financial officers continue to be in high demand. Finding them is keeping many of the nation’s top recruitment operations busier than ever. In recent months, search firms of all varieties have placed CFOs at various companies, especially private equity-backed outfits.
Executive recruitment firm RM Nephew and Associates has placed former Attivio executive Alan Cooke as the new CFO of Financial Recovery Technologies (FRT), a technology-based services organization that helps the investment community identify eligibility, file claims and collect funds made available in securities class action settlements.
In his position with Financial Recovery Technologies, Mr. Cooke leads the finance, accounting and compliance teams.
Mr. Cooke was previously the CFO and general counsel of Attivio. Prior to that, he was equity research analyst, enterprise software, at Merrill Lynch. Before that, he held the same role with Wachovia. During his career. Mr. Cooke also gained experience with Oracle Corporation and McKinsey & Company.
RM Nephew and Associates, with offices in Boston and New York, provides partnership-driven solutions to business leadership and recruitment challenges worldwide. The firm specializes in providing executive search services for clients within the healthcare, technology, and professional services industries. Its clients range from Fortune 500 companies to mid-size firms to private equity sponsored enterprises. The firm has extensive experience partnering with privately-held family-owned firms.
Bob Nephew founded RM Nephew and Associates with more than 35 years executive search experience. He has built his career within the technology, professional services and healthcare industries. Areas of expertise include human resources, board of directors and financial officer disciplines. Through his extensive work in these areas, Mr. Nephew has refined techniques for placing senior leaders who serve as trusted advisors to the CEO on a range of strategic business matters. His clients value the insights he brings from recruiting success within their niche sectors and functional areas, as well as his work on both the provider and client side of the business.
Modern Day CFO
A new report by Stanton Chase International found that the role of the CFO continues to evolve at an escalating pace. As the job expands to include more non-traditional financial accountabilities, CFOs recognize they must build new skills to lead.
As CFOs Gain in Stature, Succession Plans to Replace Them Falter
As with all things in the business world, the role of a CFO has evolved over the past 10 years. Gone are the days of the CFO being the top accountant focused on the timely and accurate recording of transactions to generate a set of financial…
“With technology increasingly shaping and disrupting corporate strategy and the way organizations operate, CFOs must remain poised for more change ahead, and be prepared to quickly and continuously innovate to keep pace with digital transformation,” Stanton Chase said.
The report found that technology, and the unique opportunities it offers, presents new challenges and demands for CFOs. Among them, CFOs must take on a greater role in attracting, developing and retaining top tech-savvy leadership talent that can leverage new technologies within their organizations, allowing them to focus on developing and driving corporate strategy to remain competitive.
The tide has clearly turned, and the CFO’s focus has irrevocably shifted from “traditional” finance responsibilities to finding ways that finance can add measurable business value. “Technology is both a driver and an enabler of this shift,” the report said.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media