Our client, a fintech company specializing in financial investment advisory services, had recently secured $160M in funding from prominent investors including Lightspeed and ICONIQ Growth. With a workforce of 200 employees and a headquarters in Israel, they maintained a significant presence in New York. Despite being a growth-stage company, they had never previously employed a General Counsel. The business operates in a highly regulated environment, combining fintech and investment advisory services, and faced unique legal and regulatory challenges.
Scope of the Search
The client sought a General Counsel with a deep regulatory background who could also build and scale the company’s legal function from the ground up. This required:
- Extensive scaling experience to establish and expand the legal department.
- Regulatory expertise to navigate the complexities of fintech and investment advisory regulations.
- New York residency, as the role was required to be based in their NY office.
- A strategic mindset, as the candidate would work closely with the CEO on future business growth and legal operations.
Crucially, the candidate needed to present a plan during the interview process outlining how they would scale the legal function effectively.
Challenges
The search presented several challenges unique to the fintech and investment advisory space:
- Equity-Based Compensation in a Growth Company: Many experienced General Counsels were hesitant to take on roles at growth-stage companies where equity is a significant portion of compensation. These roles often come with uncertainty regarding long-term stability and headcount growth.
- Early-Stage Legal Work: Building a legal function from scratch often involves operational, hands-on tasks that some tenured GCs find less strategic or appealing.
- Market Sentiment: In the wake of recent industry layoffs, candidates were cautious about promises of growth and headcount, having experienced setbacks in other companies.
- Highly Regulated Environment: The company required someone who could handle both fintech regulations and broader investment advisory compliance, which added to the complexity of the role.
- Talent Pool Constraints: Finding a candidate with the required experience who was also willing to relocate or already based in New York further narrowed the search.
Despite these challenges, the role was highly attractive due to the company’s leadership. The CEO’s reputation as a visionary who empowers senior executives provided a strong draw for candidates. Unlike other CEOs who might limit the GC’s influence, this role offered significant autonomy and strategic involvement.
Our Approach
Our search strategy combined targeted research, network leverage, and proactive headhunting. Key steps included:
- Market Mapping: We conducted a comprehensive talent mapping of General Counsels and senior legal leaders across:
- Fintech companies headquartered or with offices in New York.
- Other highly regulated industries, including health tech, data, and consumer technology sectors.
- Referral Networks: Leveraging our extensive relationships on the West Coast and in New York, we utilized referrals to identify top-tier candidates who were not actively looking but open to compelling opportunities.
- Direct Outreach: Active headhunting efforts were instrumental. In fact, we had previously engaged with the successful candidate, allowing us to expedite the outreach process. A simple text message initiated the conversation, and the candidate quickly responded.
- Thorough Assessment: Given the importance of this hire, the process included several stages of rigorous interviews and case studies. The shortlist was carefully narrowed down to five candidates, with two progressing to the final offer stage.
Results
Our targeted approach delivered a successful placement:
- Outreach: We engaged with over 300 candidates based in New York across fintech, investment advisory, and adjacent regulated industries.
- Final Placement: April Lindowver was selected for the role. April brought an impressive track record, having risen through the ranks at Carter, a global ownership management platform with over 5,000 employees. Her combination of corporate experience, late-stage scaling expertise, and regulatory acumen made her the ideal candidate to lead and scale the client’s legal function.
Impact
With April on board, the company now benefits from a highly strategic General Counsel capable of navigating complex regulatory challenges while building a scalable legal infrastructure. The placement has not only filled a critical leadership gap but also positioned the company for sustainable growth in a highly regulated and competitive market.