Tracy Hoar, Partner Hammond Partners
Tracy specialises in Human Resources. Her career in executive search started in 1997 with TMP, where she headed the HR practice and in earlier years headed the Legal team working across private practice.
The hiring that has taken place in the City has been largely focused on roles involving restructuring. Experienced HR professionals who have the ability to reduce headcount and streamline operations. Where possible, banks have sourced candidates for these roles from internal talent pools making it even harder for people to move in to new businesses.
Over the last five years this has resulted in a glut of high quality candidates on the market. As headcount has been reduced, banks have encouraged double hatting, people taking on additional country or product-specific roles.
While the HR function has its own agenda, it’s one that is intricately linked to the business strategy. The most successful Boards should have HR capabilities, either as an NED representing the reward function or on an operational Board HR Director representing the human capital investment in the business.
Banks have been keen to bring in commercial and business experience into the HR function and HRDs with MBAs are becoming more prized. You don’t necessarily have to be a career HR manager.
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