Understanding the balance and nuance required to create a functioning, successful new board takes a blend of exceptional skill, profound experience, and extensive networks, which is why this multi-billion dollar organisation entrusted us to build their new boards in Australia and New Zealand.

Building entire boards is a challenging and multi-faceted assignment that requires us to tap into our full range of skills, experience, research services, and networks. Because such assignments are often required in times of transition, deadlines are also often extremely tight - companies need to get boards in place quickly to enthuse stakeholders and the broader market.

In designing a new board’s structure, we firmly believe in the power of building a champion team rather than relying solely on talented individuals. So, we are very aware of understanding how every candidate will work together as a whole. 

Recognising the essential functions of each non-executive director (NED) position, we focus on selecting candidates whose combined skills and expertise complement and enhance the board's overall performance while linking back to the business model and strategic direction being pursued. We like to think this where the art of talent spotting meets with pattern recognition.

The role of the Chair is naturally crucial, requiring a visionary individual who has a blend of relevant skills and intuitive leadership capabilities that can galvanise the entire board and drive exceptional business outcomes.

And while there will more than likely be some overlap in skills across board members, we focus on those abilities that are needed by that particular organisation to drive sustainable value creation and growth.

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How we partnered with them to create boards in two countries.

Omera Partners was engaged by the UK head office to build new boards in Australia and New Zealand following the company's acquisition of multi-billion dollar asset. Working with the company’s legendary founder and his Global COO, we helped build new boards in both countries within extremely tight deadlines.

They had specific requirements, seeking to appoint key positions to form the new boards while ensuring continuity by retaining several members from the existing board.

In Australia the appointments required were Chair, Chair of Audit, Chair of Risk, and a consumer-focused appointment.

The challenge was to identify candidates from the domestic Australian market who possessed deep insurance and financial sector experience, a thorough understanding of APRA regulations, and the evolving regulatory landscape following the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry.

We embarked on a comprehensive three-pronged approach to identify exceptional candidates.

1. Leveraging Network and Industry Contacts

Our Partners tapped into their extensive networks within the insurance and financial services sectors. Their strong relationships with industry leaders allowed them to quickly identify highly qualified individuals who matched the client's requirements.

2. Primary Targeting of Companies

We strategically targeted companies across the Australian market to identify individuals with exceptional credentials who were available and held no conflicts of interest. This proactive approach ensured a diverse pool of talent for consideration.

3. Leveraging Innovative Technology and Proprietary Tools

Our fully in-house research team utilised the latest AI technology, and own proprietary IP talent identification tools, to conduct comprehensive searches. This enabled us to uncover suitable candidates who were otherwise overlooked.

Within two months, Omera Partners presented our recommendations, resulting in the successful appointment of all four new board positions in Australia.

The candidates chosen demonstrated deep industry knowledge, regulatory expertise, and a commitment to driving value creation.

In New Zealand, our client faced an additional layer of complexity as government regulations required the board to be in place before the takeover would be approved. 

Tasked with finding a Chair, Chair of Audit, and Chair of Risk, finding three exceptional candidates at once within the tighter commercial market of New Zealand became an added challenge. We followed the same three-pronged approach and again within only two months successfully helped the client appoint all three positions. 

Notably, our client became the first local company to appoint an all-women board, showcasing the firm's commitment to diversity and inclusion.

Since the formation of the new boards, our client both in Australia and New Zealand has surpassed expectations while achieving exponential growth. 

Building entire boards is the kind of challenging major search assignments we relish at Omera Partners. It means we engage the full force of our collected knowledge, networks, and intuitive skills.