Another path to the top

Dealer groups still like to look outside the organisation for senior executives, according to ProfusionExecutive Management director Simone Mears.

“Some senior appointments are made on the basis of personal relationships,” she said.

“But groups do like to see who is out there in the market and undertake a full search for an external candidate.”

With the expansion of dealer groups, there is a certain amount of movement within senior ranks of dealer groups, but it is not extensive.

Often it is a chain reaction, one dealer group chief executive moves and that triggers changes as people move to fill positions.

“It is a leveraged market that happens as senior executives move around,” Mears said.

One of the other senior management positions that are sought after is compliance managers, although this has quietened in recent times.

“The demand for compliance managers has alleviated since the introduction of FSR (Financial Services Reform) when there was significant shortages of these people,” she said.

“There is still a focus on compliance people, but now the level of demand is no different to any other senior dealer group roles.”