C-Suite Hiring and Compensation Remain Robust Despite Slowing Growth and Turbulent Markets
Most firms adjusted incentive compensation up slightly (5-15%) for performance year 2025, and entered 2026 with interesting recruiting needs in a wide variety of functions and markets, against the backdrop of strong underlying markets in 2025 (despite several bouts of considerable uncertainty and drawdowns).
The demand for stronger technology skills at all levels and in all functions of C-Suite recruiting is substantive as a response to the impact of large language models and the tokenization of a wider range of assets (Wilbanks Partners Commentary). It impacts every job description we write with clients, and is top of mind in every organizational management and succession planning engagement.
The shift of our leadership recruiting work toward private markets continues.
- Firms are continuing to build out wealth management distribution channels, particularly mid-size firms. Examples of this include James Gruver joining Orix USA as Head of Capital Formation from Polen Capital and Bill Dunigan joining New Mountain Capital as Head of Wealth Solutions from Blackrock.
- Recruiting was active for firms expanding their investment product capabilities, such as private equity firms building secondary capabilities, or hedge funds expanding into private market investing with longer time horizons. Examples of this include Bregal Investments recruiting Luis Cabrera from GCM Grosvenor as Head of Secondaries.
- Alternatives firms continue to deepen leadership skills in operations, technology and administration, with overall business infrastructure capabilities still far behind the larger traditional firms, particularly those in the ‘40 act product field. Examples include Suzanne Donohoe joining Vista Equity as COO & Chief Commercial Officer and Shant Mardirossian joining Littlejohn & Co as Chief Operating Officer, following earlier moves like Jennifer Barbetta to TA Associates and Heather Miner to Advent International.
Recruiting work with traditional firms involves a number of niche categories including;
- Diversification into private markets investments with leadership recruiting, team lift outs, acquisitions and distribution partnerships. Examples of this include Christian Munafo to Van Eck and Bill Stout as Head of Private Markets Strategy at Vanguard.
- ETF channel expansion for smaller firms. Examples include Matt Camuso joining Baron Capital as Head of ETF Solutions from BNYMellon, Johan Grahn joining Raymond James Investment Management as Head of ETFs from Allianz and Rob Forsyth recruited to Lazard Asset Management as the Head of Global ETFs from State Street Global Advisors.
- Digital marketing, now dominated by a wide variety of technology skill requirements and the use of agentic Al agents. Earlier examples of this included Kristen Ganong’s recruitment to Russell Investments as CMO and Anthony Vitalone’s recruitment to First Eagle as Head of Digital Marketing.
Wealth management recruiting trends we observed continued to be in the UNHW field, including expansion plans and acquisitions in the high end RIAs, as well as single and multi- family office buildouts. We are active in two engagements with large first generation single family offices to strengthen their professional team and improve their governance framework.
Thought Leadership
We will be hosting a webinar with three alternative market leaders to discuss the private markets returns crisis underway (Howard Marks commentary) in early May. We will be exploring the merits of large vs small private market managers with Sanjiv Shah, Raynald Leveque and Danita Johnson. Their observations and insights on important sources of primary data on the risks and rewards of both ends of this investment spectrum will be noteworthy and worth watching so keep an eye out for our announcement of the date.
Wilbanks Partners in the Market
Over the last year we remained active working and visiting with clients in a wide range of public forums, always on the lookout for the best talent and staying abreast of industry best practices.
MIT Media Lab Innovation in Action AI Summit (April, Boston)
I was privileged to be invited to attend the MIT Media Labs Imagination In Action Al Agent Leadership Forum in Cambridge recently, made possible through my decade long partnership with Mark Casady and Dave Blundin at Vestigo Ventures. Of particular interest was the agentic model programming workshop hosted by Akami Technologies the first day where I spun up OpenClaw hosted on the Maritime cloud on my laptop to solve a simple digital assistant task realtime.
ICI Investment Management Conference (March, Palm Desert)
Attending the Investment Company Institute / Independent Directors Council Policy Conference in Palm Desert was once again a great opportunity to listen to thought leaders provide insights on the thorniest topics we all face. With over 1000 professionals in attendance, it was a fantastic opportunity to see many current and former clients and expand our networks with new friends.
Money Management Institute Leadership Summit (March, Orlando)
Following the Money Management lnstitute’s Leadership Summit in Orlando remotely was not nearly as much fun as being in attendance in sunny Florida, but the Board and Craig Pfeiffer’s leadership team once again sponsored an “A” list of speakers who tackled the toughest issues the industry faces, and provided unique insights on the places where growth trends are headed.
Toigo Foundation (December, Los Angeles)
Attending the Toigo Foundation Los Angeles West Coast Conference the first week of December 2025 reaffirmed for me the importance of keeping inclusivity front and center in all our organizational management discussions and initiatives. A great line up of inspiring speakers and networking opportunities make this a highly valuable event.
Wilbanks Partners’ Representative Search Work
- President & CEO – $40 bil RIA
- President & CEO – $30 bil ESG Investment Firm
- President & COO – $5 bil RIA
- President & CEO – Leading Financial Services Association
- President & CEO – $4 bil Family Office
- Board Member – $3 bil ESG Private Equity Firm
- Board Member – $110 bil Global Asset Manager
- Board Member – $10 bil Mutual Fund Complex
- Board Member – $160 bil Global Investment Manager
- Senior Managing Director & Division Head Tax Efficient Solutions Business – $45 bil AUM RIA
- Division Executive & Head of $2 bil Investment Business – Mission-Driven Payment Services Fintech
- Managing Director & ETF Division Manager – $80 bil Asset Manager
- SVP & Head of ETFs – $1 trillion Global Asset Manager
- Partner & Head of Retail Distribution – $200 bil Private Equity Firm
- Head of Private Markets – $15 bil Public Pension
- Head of Retail Marketing – $200 bil Private Equity Firm
- Head of Retail Sales – $200 bil Private Equity Firm
- Partner & CFO – $30 bil Hedge Fund
- Partner & CFO – $4 bil ESG Private Equity Firm
- Treasurer – $3 bil ESG Private Equity Firm
- Chief Investment Officer – $3 bil Endowment
- Chief Investment Officer – $40 bil Multi-Family Office
- Partner & CHRO – $40 bil Global Asset Manager
- Partner & CHRO – Boutique Global Investment Bank
- Partner & CHRO – $4 bil ESG Private Equity Firm
- Partner & COO, Trust Services Business – Large Regional New Hampshire Law Firm
- Managing Director & Head of Client Service & Operations – $40 bil RIA
- Partner & COO – $4 bil RIA
- EVP & Head of Investment Operations & Client Service – $40 bil Multi-Family Office
- EVP & Chief Marketing Officer Retail – $1 trillion Global Asset Manager
- SVP & Head of Digital Marketing – $1 trillion Global Asset Manager
- Head of US Retail Channel Marketing – $700 bil Global Asset Management Firm
- Partner & Chief Marketing Officer – $10 bil Global Institutional Asset Manager
- Portfolio Manager, Emerging Market Local Currency Credit – $50 bil Asset Manager
- Portfolio Manager, Global Small Cap Value Equities – $60 bil Asset Manager
- Head of Investments – $4 bil Family Office
- Head of Family Office Distribution Channel – $6 bil AUM Hedge Fund
- General Counsel – $1 bil Wealth Management Private Equity Fund
- Head of Risk Management – $30 bil Hedge Fund
- Head of Human Resources – $30 bil Hedge Fund
- Head of Channel Marketing – $80 bil ETF Specialty Firm
- Head of Talent & Deputy CHRO – $80 bil Asset Manager
- Product Manager, ETF & Tokenized Asset Classes – $80 bil Asset Manager
