29 Jun Member Spotlight: Financial Assets
Member Spotlight: Financial Assets
Financial Assets is an executive search firm based in Amsterdam with a strong focus on the financial service industry. For 19 years, the firm has connected companies to experienced and talented individuals who are looking for a new challenge. Marc Hamel, partner at Financials Assets, has been active in the financial services industry for 23 years and has witnessed the changes both the recruiting and financial industry have underwent since the financial crisis.
This changing environment can partially be ascribed to the large amounts of layoffs in the financial service industry as a result of the 2008 crisis. People started for themselves, utilizing their knowledge to create better solutions and new business models that had traditionally always been solely offered by banks as a part of their service package. These newly formed fintech startups basically filled the gaps that traditional service providers were leaving behind, as they were occupied with legacy issues and many legal struggles resulting from mismanagement running up to 2008. But financial innovation went further than this: Financial services have seen an enormous change in the way companies communicate with their clients, with one another and the regulators. This trend, coinciding with individually independent product development, has led to a renewed financial infrastructure, driving the product delivery channels from the traditional verticals to a more horizontal structure.
For Financial Assets, it’s important to be a part of this change. As a headhunting firm, they’ve survived the global financial crisis and intend to stick around for a far longer period of time. This requires them to know exactly what’s going on in the industry in order to be a useful partner for their clients. According to Marc, this has also been one of the main motivators to join Holland FinTech: The organised events allow the partners from Financials Assets to get up to date with the latest developments in the fintech space, which aids their network and allows them to acquire knowledge on the changing environment they themselves have to operate in. Functions within the economy, among financial institutions and corporates alike, are becoming ever more technically demanding. The level of technical ability needed to make it in finance has grown exponentially over the last decades, but banks now have to compete with fintechs over the talent they can acquire. Professionals might also decide that a change in environment is a good thing by themselves, and switch over from a corporate to try something new in the fintech space, or vice versa. Marc sees a huge potential in this development, were it to be become more established. Sharing knowledge and trading ideas is one of the pillars of the new startup environment, and the skillset of wintered bankers and corporate professionals could be a strong complementary force to give many of these starting entrepreneurs the edge to make a real change in the industry. Likewise, corporates could really benefit from increased infusion of a different set of people in their workforce, strengthening their ability to innovate from within, while individuals having seen both sides of the business will become completer professionals themselves as well.
The fintech scene in the Netherlands has shown great potential to provide these talents and to develop new services across the finance industry according to Marc. “During meetups from the network of Holland FinTech, I’ve experienced an incredible level of optimism, energy and drive from participants. Their shared passion harnesses enormous potential to reshape finance”. Although we don’t know at what pace the industry will change and what shape it will take, Financial Assets is dedicated to remain a trusted partner for firms looking for the talent needed to make it in the future.