Problem: An expanding public Houston-based Energy Services Company, doing 75% of its business outside of North America, wanted to hire someone to upgrade its Foreign Exchange Hedging processes. The treasurer had very limited FX experience himself, so he needed to hire someone who could work relatively independently and had in-depth knowledge of FX best practices. The title would be: SENIOR MANAGER/DIRECTOR INTERNATIONAL TREASURY
Situation: We talked to many local candidates but were unable to find someone who had the skill set and experience necessary to fill this slot. The good local candidates were either overqualified for this job (making more money) or didn’t have a broad enough background to set up the new processes required.
Solution: We recruited a University of Texas graduate who had worked for a major tech company in the Pacific Northwest for six years almost exclusively doing FX hedging. This individual was interested in relocating to the Houston area where both he and his wife grew up, and he was a renter, so he could relocate cheaply and quickly. This person was interested in being “a bigger fish in a smaller but growing pond”. Since being hired, he has done an outstanding job and eliminated millions of dollars in potential FX loses.