The Client
ART Business Loans (ART) came to Moon Executive Search looking to appoint several new Non-Executive Directors to replace existing Board Members who were stepping down.
They are a not-for-profit Community Development Finance Institution (CDFI), head quartered in Birmingham and owned by their members –ART was set up as a response to one of the recommendations from the Aston Commission, led by Sir Adrian Cadbury, which was investigating issues around access to business finance in the area. ART’s original mission ‘to alleviate poverty through enterprise’ has developed over the years to include a broader remit ‘to ensure that all viable small businesses in the West Midlands can access the finance they need.’
Since the Covid-19 pandemic demand for ART’s loan service has been higher than ever. ART intends to call upon their considerable years of expertise in dealing with small businesses to continue to support, viable businesses and social enterprises in the West Midlands Region and adjoining counties unable to source their financial needs from the banks, whilst also supporting job creation and preservation in underserved areas and communities.
Our Challenge
ART was looking for Non-Exec Directors to join at this exciting and challenging time, with their ambition to grow, both in terms of scale and impact. The positions offered successful individuals the chance to play a leading role in supporting the growth of the business and also assist transformation of their borrowers.
The brief was to search for the potential following attributes in prospective candidates:
Sound financial knowledge – ACA/FCA with corporate finance, raising venture capital or a lending background.
A proven experience of contributing to business strategy.
An excellent regional network to assist with raising the profile of ART.
Digital Expertise, to include SEO and web analytics.
A strong background in governance.
Our Approach
This was a national joint advertising and search campaign.
Vanessa Moon, Founding Director, and Simon Quinn, Director of Executive Search, led on this major project and conducted all first stage interviews and managed the complete search process from start to finish.
The Board, Chair Dr Nick Venning DL and CEO Steve Walker were all regularly updated and worked with Moon very closely throughout each stage, from shortlisting to appointment stage. As the brief was so wide, we segmented our research and networked within each market area.
The Solution
We were delighted to present a strong and varied shortlist to the Board who agreed to appoint the following individuals:
Jon Addis - Private Equity Adviser & CFO, formerly Group CFO at UK Power Reserve and Investment Director at LDC & Royal Bank Private Equity.
Rebekah Eden - Deputy Director Department for Business, Energy and Industrial Strategy, formally Director of Performance at Ofwat.
Susan Farmer - Head of HR at BAE Systems and former Director of People for Bibby Financial Systems.
Tom Horton - Previously a Corporate Banker, now an Investor at BGF.
Vanessa Moon Founding Director of Moon Executive Search said:
‘This was a such great and hugely varied search campaign to work on as the brief was so multi-faceted. There was huge interest in all the roles, and we are very pleased to have presented such a strong shortlist of Non-Exec Directors bringing a range of sectors from Investment, HR Services, Private Equity and Regulatory and Wider Business sectors. We know these new Non-Exec Board members will help support the wider growth plans for ART Business Loans.’
Dr Nick Venning DL, Chair of the Board commented:
‘We were so pleased with the campaign led by Vanessa and Simon. We chose Moon to work with as we knew they had both a knowledge of the CDFI sector and the connections to identify the right people to join our Board as we embark upon ambitious development and future growth plans. We have a strong Board in place and are looking forward to extending our reach.’
Steve Walker, Chief Executive said:
‘We are at an exciting time for ART, as demand for our kind of finance continues to grow and I am delighted to welcome the new Non-Exec’s to our Board. Moon took time to understand our business model and requirements then put in the rigour and due diligence to the campaign to ensure we attracted an outstanding and broad range of candidates.’
Moon Executive Search provide bespoke solutions for clients, using our extensive expertise and knowledge gained from twenty years of recruiting to find your perfect candidate. If you are looking to appoint a senior leader to your Board, visit Build Your Board to get started, or call us on 01275 371200.
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