Executive Search for Finance Positions
Executive Search for CFOs and Finance Directors
Finance leaders who secure funding, guide business decisions and earn the confidence of shareholders, lenders and boards.
Book a consultationCFO Executive Search with NAKAMA
NAKAMA EUROPE recruits CFOs, Group CFOs and Finance Directors for companies and private equity-backed businesses across Europe. Every assignment is conducted exclusively on a retained basis through structured market research and direct approaches to suitable candidates.
Founder Claudia Wulf brings more than 25 years of Executive Search experience, preceded by over twelve years in finance and accounting. This background helps us assess candidates’ technical expertise and ability to meet the demands of the role, beyond what their CV reveals.
The CFO roles we fill
- CFOs of companies and groups
- Finance directors and managing directors responsible for finance in mid-sized and owner-led businesses
- Group CFOs responsible for several entities and countries
- CFOs of private equity-backed and portfolio companies, see CFO for private equity
- CFOs for growth, refinancing, restructuring, carve-outs or succession
- Interim CFOs to cover a vacancy straight away, see Interim Management
Why a CFO search is different
A CFO is rarely hired simply as a finance expert. The role almost always comes with a reason: growth needs to be funded, reporting for shareholders needs to be established, refinancing needs to be negotiated, or an IPO or sale needs to be prepared.
So we start with the reason behind the role, not with a job description. A CFO who excelled in a large group can struggle in an owner-led business or a portfolio company, and the reverse is just as true.
From that reason we work out which experience is essential and which is merely desirable. We agree a detailed brief with the board and shareholders before research begins and anyone is approached.
Which CFO fits a restructuring or turnaround?
In a restructuring the brief is clear: secure liquidity, keep lenders and shareholders reliably informed, cut costs and stabilise the business. There is no time for lengthy debate, and everyone involved knows what is at stake.
Some finance leaders seek out exactly that. They do their best work when the mandate is unambiguous and decisions cannot wait. Others are at their strongest in a growth phase with a longer horizon. Each is a distinct strength, and a CV rarely shows the difference.
So we establish early on whether a candidate has led a business through a crisis from the inside: weekly cash planning, discussions with lenders and credit insurers, a restructuring plan, workforce measures.
What we look for in CFO candidates
- Technical depth. Closing and consolidation, controlling, treasury, tax and financing. Our own finance background helps us judge answers that merely sound convincing.
- Experience of the situation at hand. Someone who has led a refinancing, a carve-out or a new reporting set-up brings something different from someone who has run an established finance function.
- Handling shareholders and funders. Boards, lenders and investors expect clarity and reliability, especially when the numbers are not good.
- Leading the finance team. Whether the person can build, develop or restructure a team.
- Fit with the CEO. The CFO is usually the CEO’s most important counterpart. We assess that working relationship explicitly.
Immediate cover, search in parallel
When the role is already vacant, the CEO often ends up running finance on the side, and that time is lost to the business.
NAKAMA therefore offers two routes that work together: an interim CFO provides leadership during the gap, while the search for the permanent appointment runs in parallel. We plan the handover from day one. More under Interim Management.
Search process and fees
The search follows the four steps of our Executive Search: brief, market mapping and direct approach, candidate assessment and a substantiated recommendation, and closing and onboarding support.
The first shortlist is usually ready within two to three weeks.
We work exclusively on a retained basis on behalf of the client and invoice in three stages linked to agreed milestones: a kick-off fee when the assignment is commissioned, a shortlist fee when candidates are presented, and a placement fee when the employment contract is signed.
The shortlist contains at least five candidate profiles, usually more. As a matter of principle, we do not approach employees of our clients.
Frequently asked questions
How does a CFO headhunter differ from a job advert?
Many experienced CFOs are not actively looking for a new role and may never see or respond to a job advert. A headhunter maps the relevant market, approaches suitable finance leaders directly and confidentially, and assesses their experience, motivation and fit before introducing them to the client. NAKAMA only presents candidates we have interviewed ourselves and can recommend with good reason.
How long does it take to hire a CFO?
At NAKAMA, the first shortlist is usually ready within two to three weeks. The successful candidate’s start date will depend on the selection process and their contractual notice period, which can be several months. If the position needs to be covered sooner, we can combine the permanent search with an interim CFO assignment. We agree a realistic timeline at the start of the search.
When does an interim CFO make sense?
When the finance lead leaves at short notice, when a refinancing, year-end close or transaction is coming up, or when the permanent hire cannot start for some months. An interim CFO provides leadership during the gap, while the search for a permanent appointment runs in parallel. NAKAMA can manage both assignments.
Does NAKAMA find CFOs for restructuring and turnaround situations?
Yes. NAKAMA also fills CFO roles for restructuring and turnaround situations, either permanently or with an interim CFO first. We check whether a candidate has led a business through a crisis from the inside, for example with weekly cash planning, lender discussions and a restructuring plan.
Does NAKAMA fill CFO roles outside Germany?
Yes. NAKAMA fills CFO roles across Europe, in English and German, and approaches candidates across borders. Interviews take place in person or by video.
How confidential is a CFO search?
We agree the level of disclosure with the client before approaching candidates. If the current finance leader is still in post or the planned appointment must remain confidential, we approach candidates without naming the company. We disclose its identity only once both sides have expressed an interest in continuing the conversation.
What happens if a CFO appointment ends within the first three months?
We then fill the role again at no additional fee. This applies if the person appointed resigns within the first three months or the company ends the contract during that time. It does not apply if the role is eliminated or changes substantially, for example through a different location or a different remit.
How are fees structured for a CFO search?
NAKAMA conducts CFO searches exclusively on a retained basis. Fees are invoiced in three stages linked to agreed milestones: a kick-off fee when the assignment is commissioned, a shortlist fee when candidates are presented, and a placement fee when the employment contract is signed. The fee covers the full search process, rather than individual candidate introductions.
It starts with a good conversation.
Let’s talk about the position you need to fill, the responsibilities it carries and what the right person should achieve within your organisation. Together, we will clarify how NAKAMA can best support your search.