Spencer Stuart: The Government’s Executive Search Firm

OK, we have another bubbling scandal. According to a Wall Street Journal article, executive search firm Spencer Stuart, is getting all of the government’s business.

The Journal reports they are the go to search firm when the feds need someone to fill a board seat or be the CEO of their growing portfolio of companies. Government companies that have had positions filled by Spencer Stuart include, GM, AIG, Fannie, Freddie, GMAC, Citigroup and Chrysler.

So is there a Goldman like lock on the government’s search business? Well consider that Spencer Stuart recruited Tim Geithner to be head of the New York Fed! And, when the interim chairman of GM, Kent Kresa, said he planned to use his personal network to fill board seats, Treasury officials “strongly” — the WSJ’s term — suggested he use Spencer Stuart!

There you go. It’s as obvious as the nose on your face that we have head hunter capture here.

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About Tom Lindmark 401 Articles

I’m not sure that credentials mean much when it comes to writing about things but people seem to want to see them, so briefly here are mine. I have an undergraduate degree in economics from an undistinguished Midwestern university and masters in international business from an equally undistinguished Southwestern University. I spent a number of years working for large banks lending to lots of different industries. For the past few years, I’ve been engaged in real estate finance – primarily for commercial projects. Like a lot of other finance guys, I’m looking for a job at this point in time.

Given all of that, I suggest that you take what I write with the appropriate grain of salt. I try and figure out what’s behind the news but suspect that I’m often delusional. Nevertheless, I keep throwing things out there and occasionally it sticks. I do read the comments that readers leave and to the extent I can reply to them. I also reply to all emails so feel free to contact me if you want to discuss something at more length. Oh, I also have a very thick skin, so if you disagree feel free to say so.

Enjoy what I write and let me know when I’m off base – I probably won’t agree with you but don’t be shy.

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