Evolution or revolution? Transforming the recruitment and development of senior executives

By Michael Barrington-Hibbert

The role of the Chief Operating Officer (COO) in Investment Banking has changed dramatically in the last three years.

Historically, COOs in financial institutions were product aligned and came from operations or finance backgrounds; maintaining balance sheets, headcount and allocating bonus pools were previously the
order of the day.

Perceived wisdom has since changed. The financial crisis has created a new model of infrastructure and an increased demand for a new brand of COOs. Major investment banks now have stand alone COO roles, which are expected to lead product development, and shape the strategy of the respective business line.

This paper, was derived from interviewing some of the leading COOs across the industry based across EMEA, North America and Asia, in conjuncture of Barrington Hibbert Associates’ experience of recruiting high level COOs, examines the evolving nature of the role in the light of the financial crisis, considering in particular, what qualities and skills investment banking COOs will have to posses if they are to add real value.

Read the full paper here: