Talent Market Update - May 16th 2024
This article delves into the recent developments across various industries, focusing on executive appointments, job creation, office openings, layoffs, restructuring, and the challenges associated with the return-to-office transition.
In the financial services sector, several high-profile appointments have taken place. Aegon has appointed Duncan Russell as its new Chief Financial Officer, succeeding Matt Rider [1]. MarketAxess has welcomed John Maggiacomo as the Head of North America Client Sales [2], while CalSTRS has hired a new Chief Investment Officer [3]. Mercer has moved its Chief Talent Officer to an M&A role [4], and Horizon Bancorp, Inc. has named John F. Schmidt as its Chief Operating Officer [5]. BlackRock's retirement head, Anne Ackerley, has announced her retirement [6], and Lincoln Financial Group has appointed Brian Kroll as EVP, Head of Retail Life and Annuity Solutions [7]. In Europe, Javier García-Carranza has replaced Víctor Matarranz as the head of Asset Management, Private Banking, and Insurance at Santander [8]. Principal has hired a Head of Infrastructure Debt to lead a new division [9], and Fannie Mae has appointed Diane N. Lye to its Board of Directors [10]. However, AIG Global Specialty Head Paul Greensmith has stepped down from his position [11].
The technology sector has also seen notable executive moves. Instagram co-founder Mike Krieger has joined Anthropic [12], while Constant Contact has appointed Sarah Jordan as its Chief Marketing Officer [13]. Reddit has hired an ex-Googler as its first VP of Ads Product [14]. In the cyber security space, Beazley has hired Aon's Carmichael as the head of US cyber [15]. Chartis Research has welcomed Alexa McCloughan as the Head of Research and Advisory [16], and Trianz has appointed Ravishankar Savita as the Head of Data & Analytics Practice [17].
On the job creation front, Jacobs is set to create 100 jobs as it opens a new offices in Ireland [18]. In a significant move, General Motors has announced that its headquarters will be relocating from the Renaissance Center on Detroit's waterfront to the new Hudson's Detroit building [19].
However, not all news is positive. Newly privatized Toshiba has announced plans to cut 4,000 jobs as part of its restructuring drive [20]. The return-to-office mandates have also posed challenges for employee retention. A study has found that employees at Apple, Microsoft, and SpaceX have quit over the return-to-office policies [21]. Microsoft, in particular, has suffered talent loss due to its RTO mandates [22].
In light of these developments, corporate talent acquisition leaders should consider the following recommendations:
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