In a sector as fast-moving and regulated as financial services, the quality of your executive team is often the most important differentiator. Products may be intangible, competitors are well resourced, and regulation leaves little margin for error. What gives a firm an edge is its leadership. The right mix of strategic thinking, operational rigour, and regulatory understanding can set a business apart. The wrong mix can hold it back.

It is a familiar challenge for many CEOs. Leadership teams may start aligned and balanced, but over time differences emerge. One member of the executive team may no longer be contributing with the same energy or insight. Their department might be stalling, or their grasp of regulatory responsibilities may have slipped. Others in the team may begin to express concerns. It becomes clear that while they may not be failing outright, they are no longer moving the business forward.

These situations are difficult. Most leaders do not want to make a change at the top. There is loyalty and history, and a sense that someone has earned their place. However, financial services does not stand still. When an executive begins to fall behind, the knock-on effects on the team, the culture, and the regulatory position can be significant. A lack of action can lead to missed opportunities, increased risk, and eventually a leadership structure that no longer serves the firm.

At Fram Search, we work with boards and CEOs who find themselves at this crossroads. We support firms in assessing their leadership capability and, where necessary, in discreetly identifying and securing top-tier executive talent. We specialise in executive level recruitment in financial services and our clients include banks, asset managers, hedge funds, private equity firms, fintechs, and wealth managers.

Our approach is both methodical and confidential. We understand the industry and the people in it. Rather than relying on a limited pool of active candidates, we map the entire market and provide insight into who is performing, who is valued by peers, and who may be open to a move. We are also experienced in placing interim executives to maintain business continuity during a transition.

Financial services firms are facing unprecedented change. Regulation continues to evolve, technology is reshaping delivery models, and competition is fierce. In this environment, leadership teams must be adaptable, collaborative, and forward-looking. The presence of one underperforming executive can quickly erode momentum and morale. It is rarely just about competence. Cultural fit, motivation, and strategic thinking matter just as much.

There is also the question of risk. The Financial Conduct Authority expects firms to ensure that Senior Manager Function roles are never left unsupported. When an SMF leaves, a handover plan must be in place, and a suitable replacement should be appointed without delay. At executive level, particularly in functions such as compliance, risk, and finance, the consequences of delay can be significant.

Replacing an executive is not about making an example or reacting hastily. It is about ensuring that the business remains aligned, well led, and able to meet the demands of the market. Leaders who act decisively in reviewing their teams often find that the business benefits from renewed energy, fresh thinking, and a greater sense of purpose.

We are here to support firms who recognise the importance of leadership and who want a partner with deep industry knowledge and a proven search process. If you are assessing your executive team or planning ahead for future leadership needs, we would welcome the opportunity to speak.