As private equity investments in Southeast Asia see a record surge in size fueling the need for investment professionals in the space, talent acquisition at senior levels and retention of mid- level professionals remain biggest challenges facing these entities, according to a regional boutique industry-focused executive search firm.“Vice president or director-level professionals are the hardest to find (for PE). These are one or two level under partner level which is the harder role to find. When bigger funds ask me, I can tell them there are five or ten people in the market but they are not movable as some just moved, some got promoted or some left to start their own funds,” Tily Chu, the Founder and CEO of Singapore-based TC Consulting Asia, told DEALSTREETASIA in a recent interaction.

Chu explained that the said senior roles only come from replacement when the firms do not have juniors they would see being promoted to that level.

The need for investment professionals in Asia or Southeast Asia at PE firms can be gauged from the amount of capital available and more being raised currently to deploy in the region. According to a recent report from Bain & Co, fundraising in the Asia-Pacific in 2017 rose 6 per cent to $66 billion, above the five-year historical high.

In fact, Southeast Asia saw a record year with deal value in 2017 at $20 billion up from $8 billion in 2016 and the good news is that this momentum is set to keep the region at the forefront of investors’ minds as they look to invest in Asia, an indication that there may be a continuous need for a PE talent pool for the region.

Keeping that in view, it may be paramount to have a good pool of buy-side professionals in the region who can be responsible for making these investments and deploying the large pool of capital.

“First priority is people from buy side who have an investment track record,” said Chu commenting on the preference for PE firms.

However, she added that when the fund cannot attract people from the buy side, the partners get a Mergers and Acquisitions (M&A) banker to join them. “But, not all funds would like to hire a senior M&A banker as it is very hard to tell that a banker can switch from sell side to buy side,” Chu added.

In southeast Asia, Indonesia and Vietnam, she claimed, are hotbeds for PE hiring talent as the market is huge and the talent pool keeps changing. “Over 50-60 per cent of talented people in Indonesia plan to have their own business so they normally spend a couple of years in M&A and spend a few years at PE and eventually join the family business or a family office.

Compensations at PE firms have been witnessing an increase at junior or mid-level employees amid competition for talent in the space, a report Heidrick & Struggles had noted.

Today’s employees see themselves as being in the driver’s seat when it comes to career planning and development—and the companies that will win the race are those that are willing to rethink their hiring, development, and retention models in order to adapt, the headhunter said recently in a report.

Chu explained that different funds have a different structure where some may have a carry above the VP level and for the mid-level professionals to visualize that when they can take an advantage of their role becomes important. “Much depends on how the fund structure is set and how the partner wants to retain good talent. Though, I believe keeping the team small is good,” she added.

Further, she estimates that about 10-12 per cent of the talent from the investment side may also quit to set up their own funds.

“Normally most of the global mega PE funds like to hire from the junior level like analyst or associates and for the past three years some of the global mega funds have accepted people not only from the traditional Ivy League schools but also look at sell side or equity research professionals or local graduates,” Chu noted.

This allows the private equity firm to have a mix of people from different backgrounds in the team. Also another reason that they try to explore these avenues is that some top graduates are now joining the e-commerce firms or tech companies and that may also explain why the firms cannot attract good graduates at the starting level.

Moving on, for wealth funds and others that have started exploring the region, the Asian culture where Asian juniors are comfortable with the work assigned to them poses a challenge for these funds which want talent to think outside the box. “It is an Asian culture.The seniors need to know that and also how to train these juniors in the investment space,” she added.

TC Consulting also provides recruitment services for portfolio firms of PE players. Chu notes F&B as the most challenging sector to recruit professionals who can be CEOs and CFOs to run the chain. Education, as a sector, poses a similar difficulty, she adds.

Article Credit to Tanu Pandey from Dealstreetasia.com
https://www.dealstreetasia.com/stories/pe-hiring-southeast-asia-98560/

The search for the suitable, qualified candidate to fill an important position can be an exhausting and frustrating task. This is more so in tight, competitive job markets.

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This is the reason why discerning employers turn to TC Consulting to meet their executive search needs for top talents.

Very simply, not all executive search firms are created equal. Frustration and disappointment come with working with executive recruiters lacking the bandwidth and mileage to be of critical use to hirers.

To find a candidate who will best serve your company’s needs and easily assimilate into your company culture, it is vital to find the best executive search agency.

In your search for a good executive search consultant, it is critical that the firm you’re inquiring about has experience filling positions in your industry or level of recruitment. The more knowledge the executive search recruiters have about how to fill the specific role, the more successful your business with them will be.Consultants at TC Consulting will ask candidates questions that are tailored to your niche and they will be more incisive at evaluating their skills. They will also know how to look for both the general traits and the fine details that will give your company a strong advantage.

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More often than not, a hirer looking to fill an executive role doesn’t have the gift of time on their side, as the inner workings of their business are dependent on acquiring the team members they need to fulfill deadlines, meet targets and complete projects.

The ability for executive search firms to deliver quickly is important. It may not be realistic to set a timeline in stone when recruiting candidates but you should endeavour to look for a strategic partner who understands and aims to satisfy the time-sensitive nature of your request.

This is where the large network, critical database, proven methodology and vast experience of TC Consulting will be most telling.

As when investing in any service, it’s important to have the provider give you an explanation of how they work and what their process looks like.

With executive search, you will want to ask who will actually be doing the searching. Will it be a seasoned professional whose skills and experience will directly benefit your company, or will it be a newbie who is still testing out the water?

Similarly, what criteria will they be using to single out which candidates to show you? Clearly, professional skills and experience should be the first thing they look for, but an ideal executive search firm is going to want to act as almost a partner to your company. They should take the time to learn what makes your future goals and company culture unique.

The candidates who they select for you should have both the industry know-how and the soft skills necessary to harmoniously enhance your brand identity.

The search process at TC Consulting is consultative, personal and goal oriented to ensure the best fit, every time.

With experienced hands at the helm, action will be swift and decisive for the best results.

Any executive search firm can claim that they are the best.

It is important to do your due diligence and verify if those claims are true. A proven track record is one of the key things to look for when hiring a firm, so take the time to evaluate their current reputation. Have a look at their experience at successfully finding top talents for senior roles in reputable companies. Their calibre will clearly show.

A top executive search firm will be able to provide you with solid references you can speak with, ideally some that are relevant to your industry.

Tily Chu helms fast growing TC Consulting and brings a stellar CV to the business.

As a talent specialist in the entire spectrum of financial services, having worked in numerous multinational corporations, Tily has built an extensive network of personal and institutional contacts globally.

Her personal approach in understanding clients needs and helping match with the best talents available, benefits her clientele tremendously.

When you find the right executive search firm, the value of the provided services can be immeasurable. Not getting it right can cause immense frustration, time and money wasted.

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By and large, the banking and financial services sector in South East Asia is seeing a steady growth this year.

There is noticeable growth in the hiring in the sector especially in Singapore and the Philippines. This is based on the tracking of online job hiring activity by industry.

Recruitment search firms will share that the trend to increased hiring in this sector is apparent.

Based on the same tracking mode, Philippines recorded the highest growth at 12% year to year. Singapore saw a 4% increase.

As the sector continues to transform into one that becomes more reliant on technology, employers have been setting their sights on increased talent pool to cope with the demand.

For the recruitment search firms, many are looking at the big employers as they continue to eye this region for investment banking roles. One can expect to see some traction in the hiring for private banks for the private equity professionals.

TC Consulting Asia is a specialist headhunter in the finance industry. If you are growing and are looking for talents with the right skills and experience, talk to us.

South-east Asia’s private equity is experiencing a robust deal flow, thanks to strong interest in Internet and consumer-related sectors.

Experts are optimistic that this year is likely to be another good one for the industry.

With the demand for finance talents in private equity, recruitment search firms and headhunters are likely to be kept busy.

Rising interest rates are not likely to dampen investor appetites for private equity, even as investment prospects across the region remain bright.

Private equity investments in South-east Asia soared last year to US$6.8 billion (S$9.5 billion) last year. This was up from US$4.8 billion a year earlier.

Investments in the Internet sector accounted for a quarter of South-east Asia’s total deal value last year. Buoyed by the region’s rising middle class, other emerging sectors included agriculture, consumer products, retail, healthcare and education, the report found.

The region’s deal market remains driven by Singapore, Indonesia and Malaysia, which together made up more than 80 per cent of deal value from 2012 to 2016. The Vietnamese market is also gaining traction.

While growth has been robust, private equity funds in the region are facing mounting competition as new players flood the market. To stand out, private equity firms are increasingly looking for new ways to add value to their investments.

Financial recruitment search firms and headhunters will find this an opportune time to fuel the growth of the industry.

If you are looking for a specialised finance talent search agency, TC Consulting Asia will be your ideal partner.

To arrange a discussion, drop us a note today.