Looking to hire?
Problems during a hire process
Written by Ray Nicholls, Founder, Pitch Hill Partners
What if we can’t find the right candidate?
A common fear. This all comes down to having a clear brief at the beginning of the process. You don’t necessarily have to write it yourself — I’d strongly recommend working with your recruiter to prioritise what matters most.
The brief is your sales tool; it’s what your recruiter uses to sell the opportunity.
Always recruit for outcomes and based on the business strategy, not just a job title.
What if we have an internal referral or direct applicant?
This is commonplace. There are two options:
You can pause the recruitment process and run your own interviews first, or you can include your internal referral in the headhunter’s process alongside other candidates. Either approach can work — the key is transparency from the outset.
What if we change our mind and don’t want to hire?
Sometimes circumstances change — strategy shifts, funding rounds move, priorities evolve. Ultimately, it’s your hiring process.
If you’ve retained a recruiter and work has already begun, a retainer fee is usually non-refundable. If little or no work has been done, it’s fair to discuss flexibility.
What if the level of seniority changes, either up or down?
It happens more often than you might think. The best approach is to reboot the process and return to the brief.
Until the role is filled, the assignment isn’t complete — and most recruiters will be understanding of this adjustment.
What if candidates say no?
It’s part of the process. Candidates regularly say no — sometimes another role captures their attention, or their circumstances change.
A good recruiter will be checking in constantly to gauge your role’s position on their priority list and will filter out anyone who’s not genuinely committed.
Will you meet every candidate that you shortlist? What will the candidate experience be like — and does it matter?
Our process is straightforward. We first talk to people in our existing network — candidates we’ve already interviewed personally.
Next, we advertise, screen, and follow up with an MS Teams meeting. Once we’ve crafted a longlist, we interview all shortlisted candidates face to face.
The role remains advertised until it’s filled to the client’s satisfaction, ensuring fresh candidates are continually considered.
And yes, candidate experience absolutely matters — it’s a reflection of your brand.
What if we don’t like our recruiter, or communication isn’t what we expected?
Raise it early and honestly. During your initial recruiter selection, there should have been a clear discussion about process, communication, and feedback expectations.
At the end of the day, you’re the client — you should expect to be delighted by both the process and the outcome.
Questions you might have ahead of a search process
Written by Ray Nicholls, Founder, Pitch Hill Partners
Starting a search for senior finance talent is exciting — but it’s natural to have questions before you begin.
Here’s what clients often ask us before we launch a new assignment.
Are you busy with assignments right now?
A great question. We usually have a few assignments running — some at early stages, others already in delivery.
It’s rare that everything starts at the same time, which means we always have capacity to phase in new searches.
All of our work is retained, meaning we have full commitment from each client.
Typically, we manage around three live assignments, and our capacity peaks at five, each at different stages of the process.
How long does it take to get a search up and running?
Once we’ve had an introductory call and a face-to-face meeting with key stakeholders, things move quickly.
Together, we’ll craft a role brief and job description, which forms the basis for your confidential briefing document and LinkedIn advert.
This can usually be turned around within 24 hours of engagement.
How many searches do you manage at one time?
Three to five is our sweet spot. Because every assignment is at a different stage, we can stagger our time effectively.
We become an extension of your business, representing your opportunity to the market — and we take that role seriously.
What is the current market like for candidates?
If you ask ten people, you’ll get ten different answers!
The truth is, good candidates are always in demand — and good opportunities always find talent.
Active candidates are visible and responsive — the ones applying to roles and engaging with adverts.
Passive candidates are less visible but often stronger. They’re valued where they are, so our approach has to be compelling, relevant, and strategic.
Do you recruit at specific levels of seniority?
Yes — we specialise in the No.1 and No.2 roles in finance.
Every business labels these differently, but in short, we recruit CFOs, Finance Directors, Financial Controllers, and senior FP&A leaders.
Do I need to provide a job description?
Not necessarily. We can build one together.
If you already have a finance team, an overview of reporting cadence, cashflow visibility, and team structure helps.
From there, we can craft a clear and honest role brief that reflects both the current setup and the growth ambitions.
Do you help to write the role brief?
Of course. We’ll blend responsibilities, culture, and ambition into a compelling narrative that attracts the right candidates.
Will you help conduct interviews?
Yes — depending on your preference.
We can suggest interview formats and structures, prepare running orders, and even provide tailored question sets.
If you’d like us to join interviews, we can do that too; we’ll just agree it in advance.
How many interviews should we have?
We usually recommend three:
A meet-and-greet conversation
A technical and challenging discussion
A more social, chemistry-based meeting
This structure works well to assess both capability and cultural fit.
Who should attend interviews?
Ideally, a range of personalities — for example:
The CEO or senior operational lead
HR
The finance leader if it’s a No.2 role
Team members for larger organisations
Do you have a template of interview questions?
Yes. We have a proven template that’s evolved throughout our careers, and we can also generate tailored questions using our AI tool.
It reads your job description and suggests relevant, situational, and business-partnering questions — often the ones that reveal how candidates really think.
Who should we involve ahead of the search?
Anyone involved in decision-making.
It’s particularly useful to meet people who could influence or derail a decision — early alignment avoids friction later.
Different perspectives are healthy, but expectations should link back to business strategy, not personal bias.
What skill sets are currently hardest to find?
Difficulties usually stem from unclear expectations rather than scarce talent.
We work alongside you to adjust and refine the brief as we go.
That partnership approach ensures we stay aligned, flexible, and focused on outcomes.
How do you attract or find candidates?
We’d love to say magic — but really it’s credibility, relationships, and expertise.
We use state-of-the-art software and tools to identify talent, but it’s our network and track record that open doors.
Many of our candidates are referred by investors, advisors, founders, and CFOs we’ve already placed.
Do you headhunt candidates?
Yes — discreetly and respectfully.
We also build relationships with relevant CFOs and FDs before assignments start, so we’re ready to move quickly when the right brief comes in.
How big is your network?
We have an actively managed database of around 2,200 senior finance leaders, mainly CFOs, FDs, and Financial Controllers.
Our wider reach extends much further, but these are individuals we know personally and stay in regular contact with.
What’s happening with salary and package levels?
Salaries never go down!
We saw inflated entry-level pay in 2021–22 due to post-COVID market distortion, but things have since stabilised.
At senior levels, reward is typically tied to value creation — aligning personal success with business performance.
Do you offer psychometric testing or DEI assessments?
Not directly. We deliberately refer this to independent experts to ensure complete objectivity.
We don’t take a revenue share — it’s about what’s best for the client, not what’s commercially convenient.
How do you ensure diversity in your searches?
By considering every applicant and network member fairly.
Finance is one of the most balanced professional disciplines across gender and ethnicity, and we’re proud to reflect that in our placements.
Do you monitor diversity metrics?
Yes. Our placement and application diversity averages around 50/50 gender balance, and we’re happy to share detailed data on request.
Where do you advertise roles?
It depends on the brief. Most roles go on LinkedIn, but if there’s a niche requirement, we may use specialist press or sector-specific channels.
Should we advertise as well?
It’s up to you, though we usually advise against it.
Candidates seeking senior professional roles typically approach trusted recruiters rather than applying directly to businesses.
How do you sell our business?
We build the pitch with you — highlighting your strategy, growth trajectory, leadership team, and the role’s impact.
Many finance leaders today are drawn to purpose-led companies, not just financial reward. We make sure your story resonates.
What’s your process?
Once engaged, we’ll outline a clear timetable, including a weekly update call.
Our process includes:
Longlisting via network, outreach, and advertising
Screening calls and MS Teams meetings
Face-to-face interviews with 15–20 candidates
Shortlist presentation and ongoing candidate pipeline
We continue sourcing until the position is filled.
How long does a search usually take?
Typically four weeks, though it can vary based on client diaries and availability.
Weekly catch-ups keep you informed throughout.
How many people do you interview to create a shortlist?
As many strong candidates as necessary.
This includes new applicants and existing contacts we re-interview specifically for your brief.
Do you respond to all applicants?
Yes. Every candidate who applies receives a response — whether it’s a polite rejection (with advice), an invitation to future discussions, or an initial MS Teams call.
Can candidates appear in more than one of your searches?
Yes, sometimes. If they’ve applied specifically for your role, we’ll wait until that process is complete before introducing them elsewhere.
How often should we communicate during the process?
We recommend a weekly catch-up — usually at the end of the week.
This ensures consistent feedback, keeps momentum, and helps us build a strong working rhythm together.
What’s your rebate policy?
We stand by our process. If a placed candidate leaves early, we’ll replace them free of charge.
Ultimately, you still need someone in the role — and we’ll make sure that happens.
What happens if things go wrong?
We work to put them right.
Most issues come down to communication, so from the start we flag anything that could derail progress and keep channels open and honest.
Can you help with feedback advice?
Absolutely. We gather feedback from candidates at every stage — from application through to interviews.
If someone on your team feels a meeting didn’t go well, we’ll seek constructive feedback to improve the process for everyone.
When Should You Hire an Interim Finance Executive?
24 Real Situations
Written by Ray Nicholls, Founder, Pitch Hill Partners | Based on 20+ years of placements across UK and European businesses
The most common question I'm asked by boards and CEOs isn't 'who should we hire?' — it's 'do we even need to hire someone?' This article answers that question with 24 real situations we have encountered across 20 years of placing interim CFOs, Finance Directors, Financial Controllers and FP&A leaders into UK businesses.
Each section describes a genuine scenario, what triggered the need, and what a well-matched interim was able to do. These aren't hypotheticals. Every story below is drawn from a real assignment managed by Pitch Hill Partners.
→ Hiring your first CFO → Preparing for a sale or exit
→ Post-acquisition support → Preparation for IPO
→ Gap management → Confidential shareholder diligence
→ Overwhelmed Finance Director → Part-time CFO, growing pains
→ Changing of the guard → Bridging the gap (SaaS / Series A)
→ Rapid growth and new PE ownership → Systems implementation gone wrong
→ Sledgehammer to crack a walnut → Post-integration insight
→ Recently appointed CFO needs investor-grade MI → Viewing a new industry through a different lens
→ Covering a leave of absence → Year-end and completion accounts
→ IFRS project → Post-deal firepower
→ Under-performing team member → Avoid robbing Peter to pay Paul
→ Upskilling on a short-term basis → Quick reaction to a resignation
If your situation isn't listed here, it almost certainly has a parallel. The brief is rarely the job title — it's the problem the business is trying to solve.
INTERIM CFO — 9 REASONS
1. Hiring Your First CFO
Many founders don't hire a CFO until the business forces the issue — and by then, they're already behind. The hesitation is usually cost. The reality is that the right CFO, even on an interim basis, pays for itself quickly by freeing the CEO to focus on growth and making the business investable.
Real situation:
B2B services company — CEO overwhelmed, part-time FD not enough
A rapidly growing B2B services company had a part-time Finance Director and a bookkeeper. Both were focused purely on the numbers. The CEO was managing everything — operations, finance, people — and growth was starting to suffer for it. We introduced an Interim CFO with experience as a co-pilot in start-up environments. They brought rigour to HR, legal and supply chain — freeing the CEO to focus on growth and strategy. The interim also defined what the longer-term finance requirement looked like and helped recruit their permanent successor.
The trigger: CEO bandwidth is exhausted. Finance is reactive rather than strategic. The business is approaching a funding conversation or inflection point.
2. Preparing a Business for a Sale or Exit
An exit process — whether private equity sale, trade sale, or IPO — has a specific set of requirements that most management teams have never navigated before. The experience needed is genuinely specialist and doesn't justify a permanent hire. This is one of the clearest cases for an interim.
Real situation
£40m manufacturing business — order book doubled, optimal time to explore a sale
Introduced via the company's investor, this manufacturing business had reached a point where their order book had doubled and the moment felt right to explore interest from buyers. We introduced an Interim CFO to prepare the commercial and financial information and populate the data room, while the advisors prepared the Information Memorandum. The interim's sole focus was making the business look exactly as good as it genuinely was — no more, no less.
The trigger: An exit is being considered. The management team lacks specific experience of the process. The existing CFO or FD is occupied running the business.
3. Post-Acquisition Support
The deal closes. The real work begins. Post-acquisition integration is consistently underestimated — and the CFO who led the transaction is rarely the right person to lead the integration. They're exhausted, stretched, and already fielding the next set of investor demands.
Real situation
B2B services business — acquired a European competitor of equivalent size
The CFO had led a complex cross-border acquisition and was stretched beyond capacity. They needed a peer-level executive to take the integration project entirely off their hands and return it completed. We introduced a PE-experienced Interim CFO with deep post-acquisition integration experience — and crucially, the kind of influential, positive personality that brings staff with them through change rather than creating resistance.
The trigger: The deal is done but the integration is consuming leadership time. The risk is that day-to-day business performance deteriorates while management attention is elsewhere.
4. Preparation for IPO
A dual-track process — running IPO preparation alongside a secondary PE buyout — is one of the most complex situations a finance team can face. The documentation requirements, regulatory scrutiny, and timeline pressures are unlike anything in a normal operating year. Specific experience matters enormously.
Real situation
PE-backed business — dual-track IPO and secondary buyout process
The CFO was considering an IPO route alongside a secondary private equity buyout. They needed a CFO-level interim who had actually been through an IPO — not someone who had studied it, but someone who had lived it and prepared short and long-form reporting in a real process. We introduced an experienced CFO who had been through two similar processes. Their presence allowed the incumbent CFO to focus on the strategic decision while the technical execution was handled by someone who knew exactly what to do.
The trigger: A liquidity event requires specific technical and process knowledge the existing team doesn't have. Speed and accuracy of documentation are non-negotiable.
5. Gap Management — Or Is It?
Sometimes an assignment presented as straightforward gap cover turns out to be something more significant. A good interim reads the room quickly. The best ones don't just hold the fort — they leave it in better shape than they found it, and occasionally play a pivotal role in what comes next.
Real situation
High-growth business — 'hold the fort' brief that became something more
A COO was looking for CFO cover during a busy period while a permanent search ran in parallel. We introduced a CFO whose recent career history closely matched the business's profile. Within a few months, the business announced it had exited to a strategic secondary buyout. The profile of the new permanent CFO — appointed shortly after — was entirely different to what the original brief had anticipated, because the business itself had changed shape.
The trigger: A temporary vacancy creates risk. The instinct is to find the cheapest, quickest fix. The smarter move is to match the interim to the situation — because the situation may evolve.
6. Confidential Shareholder Diligence
Not every assignment can be discussed openly. When a majority shareholder has concerns about financial transparency or management performance within a joint venture or partnership, they need someone who can gather information discreetly, without triggering a defensive reaction from the management team.
Real situation
Joint venture — majority shareholder concerned about reporting and cash management
We were confidentially introduced by a majority shareholder who needed diligence on reporting and cash management within a potentially hostile management environment. We introduced a CFO with specific experience of navigating difficult internal politics — technically rigorous but with the kind of disarming personality that keeps doors open rather than closing them. It became apparent quickly that the business was fundamentally sound but had weak processes, controls and cash management. Education and coaching of the team followed.
The trigger: Something doesn't add up. A shareholder or investor needs independent eyes on the numbers without alarming the management team.
7. The Overwhelmed Finance Director
The 'FD to CFO' transition is one of the most commonly mismanaged moments in a growing business. An FD who joined at £5m and performed brilliantly may find themselves genuinely struggling at £30m — not because they lack ability, but because the job has fundamentally changed. The answer isn't always replacement. Sometimes it's bandwidth.
Real situation
MBO business — Finance Director hit a bottleneck and needed breathing space
A Finance Director who had thrived in an earlier stage of the business was experiencing a period of bottleneck. The volume and complexity had grown beyond what one person could absorb. We introduced an experienced Interim CFO — not to replace the FD, but to take control of invoicing and payments and give the FD the space to regroup, refocus and develop the junior team around them.
The trigger: The FD is clearly capable but visibly struggling with volume. Morale and output quality are slipping. The business can't afford a wrong permanent decision made under pressure.
8. Part-Time CFO, Growing Pains
A part-time CFO is a pragmatic solution for a business that needs strategic finance leadership but isn't yet at the scale to justify full-time cost. The risk is that the business outgrows the arrangement without realising it — and the CFO is too embedded to see the gap.
Real situation
Multisite services business — ambitious growth plans outpacing part-time arrangement
A growing multisite services business had bold expansion ambitions on the back of strong revenue growth. The founder was trying to prioritise current operations and push for growth simultaneously — and doing both things less well as a result. We introduced an experienced part-time CFO to bring challenge and independent perspective to the founder, help prioritise the workload, and create the structure the business needed to scale safely.
The trigger: The founder is wearing too many hats. Revenue is growing but control is slipping. The business needs honest challenge from someone with no political stake in the status quo.
9. Changing of the Guard
A change of ownership — especially from founder-led to private equity — creates a period of genuine uncertainty in the finance team. The outgoing CFO may leave with knowledge and relationships that are hard to replace quickly. The search for a permanent hire takes time. An interim CFO bridges that gap while the business stabilises.
Real situation
Family-owned business — sold to private equity, needed investor-grade CFO
A family-owned business had sold a stake to private equity and needed an investor-grade CFO as part of the deal structure. The permanent search was sensitive and needed to be right. We introduced an experienced Interim CFO to immediately raise the quality of reporting and analytics for the new investor audience — and to stay long enough to hand over in an orderly way to the permanent CFO, who was appointed without the usual time pressure bearing down on the process.
The trigger: Ownership has changed. The incumbent finance leader is leaving or unsuitable for the new context. The permanent search needs time to be done properly.
INTERIM FINANCE DIRECTOR — 5 REASONS
10. Bridging the Gap Between a Part-Time CFO and Financial Controller
In fast-growing businesses, the finance structure often lags behind the commercial reality. A part-time CFO engaged in fundraising and a Financial Controller managing day-to-day can leave a significant operational and management gap in between — especially at a moment when reporting quality and investor readiness matter most.
Real situation
£4m ARR SaaS business — Series A fundraising underway, finance function under-managed
The part-time CFO was entirely consumed by a Series A fundraising process. There was no one managing the Financial Controller, developing the KPI framework, or ensuring the quality of monthly reporting. I was introduced to this business and placed an experienced Interim Finance Director to manage the FC, build out the reporting cadence, and develop analytics. Finance moved from a back-office function to a genuine business partner to the commercial leadership.
The trigger: The CFO is unavailable for operational finance leadership. The FC is capable but unsupported. Investor reporting or management information quality is deteriorating.
11. Rapid Growth and New Private Equity Ownership
Growth is the best problem to have — until it outpaces the infrastructure. When a business is experiencing its moment of success and a sale process is running simultaneously, the information demands on the finance function become severe. A Finance Director who has navigated this specific combination before is invaluable.
Real situation
Founder-led business — replacing a loyal FC, new PE investor, sale approach incoming
A founder was introduced to me via their investor. They were replacing an experienced and loyal Financial Controller at a moment when the business was also fielding a sale approach from a potential acquirer. The information demands were significant and the timing was acute. We placed an experienced Interim Finance Director to manage cash, build the fundamental reporting and KPI framework, and respond to the information requests from the potential buyer — all simultaneously.
The trigger: Growth has outpaced the existing finance structure. A transaction or investor interest is creating additional information demands at exactly the wrong moment.
12. Systems Implementation Gone Wrong
Systems implementations go wrong more often than they go right. The combination of change management complexity, data migration challenges, and the gap between what was promised and what was delivered can leave a business in a worse position than when it started. The person needed to fix this is specific — technically capable, process-obsessed, and experienced in exactly this kind of recovery situation.
Real situation
Business facing a failed systems implementation — needed a safe pair of hands
A business had reached the point where a major systems implementation was clearly going off the rails. The internal team didn't have the experience to diagnose and correct the course. We introduced an experienced Finance Director who had led change programmes involving complex systems before — technically excellent but, more importantly, with the practical, detail-oriented mindset to get the implementation back on track without creating further disruption.
The trigger: A systems project is running late, over budget, or delivering poor output. The internal team lacks the experience to course-correct independently.
13. Sledgehammer to Crack a Walnut
Sometimes the most cost-effective solution is to hire at a level above what the business thinks it needs — for a short, defined period — rather than hiring at the level it thinks it needs for a longer period that ends in frustration. An experienced interim who doesn't need to be managed closely will often solve the problem in half the time.
Real situation
Privately owned business — simple revenue model, outdated processes and data capture
A privately owned business with a straightforward recurring revenue model had grown to a size where its data capture and processes were no longer fit for purpose. The founder was convinced they needed a modest, inexpensive fix. The reality was the opposite. We introduced an experienced Interim Finance Director to simplify processes, embed controls, automate where possible, and then replace themselves with a more junior, permanent Finance Manager. The interim required almost no active management. Their successor inherited a finance function that actually worked.
The trigger: The existing setup is holding the business back. The instinct is to hire junior and cheap. The smarter move is to hire senior and short.
14. Post-Integration Insight
The integration is complete. The synergies are starting to crystallise. But no one has the bandwidth — or the analytical tools — to properly understand how the combined business is actually performing. This is where an FP&A-specialist interim or a Finance Director with strong commercial instincts adds disproportionate value.
Real situation
Buy-and-build business — sixth acquisition integrated, time to understand the whole
A privately owned business had just completed the integration of its sixth acquired business. The heavy lifting was done. The opportunity now was to understand how the combined group actually worked — what the best practices were across the portfolio, and how to share insight across the companies to support decision-making. We introduced an experienced FP&A Director to work alongside the CFO, create information flow across the group, and empower operational management with the analytics to make better decisions.
The trigger: A buy-and-build strategy has reached a point of consolidation. The group lacks a unified view of performance. Management is making decisions without reliable comparative data.
INTERIM FP&A DIRECTOR — 2 REASONS
15. Recently Appointed CFO Needs Investor-Grade Management Information
A new CFO joins and immediately sees the gap between what the business produces and what sophisticated investors expect. Building a management information framework from scratch is a specific capability — and one that the existing finance team may not have. An interim FP&A Director can build it, embed it, and then hand it over.
Real situation
Healthcare business — new CFO, no MI framework, investors expecting more
I was approached by a network contact who had just been appointed CFO of a growing healthcare business. There was no meaningful management information — no framework, no reporting cadence, no business partnering with operational leadership. We introduced an experienced Interim FP&A Director to build the MI framework from the ground up, establish the reporting rhythm, and push finance out into the business as a genuine partner to operations.
The trigger: A new CFO has identified a significant gap in management information quality. The existing team lacks the capability to close it quickly.
16. Viewing a New Industry Through a Different Lens
When a CFO joins from a different sector, they often make information demands the existing team finds uncomfortable. The team's instinct is to do what they have always done. The CFO's instinct is that what they have always done isn't good enough. An interim FP&A specialist can bridge the gap — working with the existing team, not against them.
Real situation
Professional services business — new CFO from different sector, existing data not fit for purpose
A professional services business approached me to introduce an FP&A interim with strong data analysis experience. A newly appointed CFO, coming from a different industry, was making different demands of the business's historical data — and the existing team wasn't equipped to respond. We introduced an Interim FP&A Director to deep-dive legacy data, work constructively alongside the existing team, and build a new KPI dashboard that gave the CFO the visibility they needed.
The trigger: A new CFO has a different frame of reference from the existing finance team. The data and reporting infrastructure doesn't meet their standard.
INTERIM FINANCIAL CONTROLLER — 5 REASONS
17. Covering a Leave of Absence
The most straightforward reason — but often the most poorly managed. The instinct is to hire down, keep costs low, and ask the remaining team to absorb the gap. This rarely works well. The better approach is to hire slightly above the level of the person leaving, ensure a proper handover, and protect both the team and the CFO's bandwidth.
Real situation
Investment house — planned CFO absence, well-formed team, needed continuity
An investment house needed an interim to cover a planned period of absence for their CFO. The business was in good shape and the team was strong. The requirement was a Group Financial Controller who could take the reins confidently, support and develop the team, and keep the CFO informed throughout. We placed exactly that — someone who maintained the momentum without creating disruption, and handed back a team that was in better shape than when they arrived.
The trigger: A planned or unplanned absence creates a gap in finance leadership. The risk is that team morale and reporting quality slip in the vacuum.
18. Year-End and Completion Accounts Under Pressure
Growth businesses run lean. When everything happens at once — a year-end, an audit, a recent acquisition — the existing team is overwhelmed and the consequences of errors are severe. This is not the moment to manage without proper firepower.
Real situation
Privately owned SaaS business — recent acquisition, completion accounts and audit converging
The CFO of a privately owned SaaS business had just completed an acquisition in a new geography. Simultaneously, completion accounts needed to be prepared ahead of audit. The internal team simply didn't have the bandwidth. We introduced a technical Financial Controller with specific recent experience of acquisition accounting and group integration — exactly the combination the situation required.
The trigger: Multiple demands are converging on the finance team at exactly the wrong moment. Technical accuracy and speed are both essential.
19. IFRS Implementation
Technical accounting projects — IFRS adoption, new standards, complex consolidations — require specialists who are genuinely expert, self-directed, and capable of finding answers without needing to be managed. These are hard people to find. The best ones are in high demand and won't be available for long.
Real situation
Global software business — large acquisition requiring rapid IFRS implementation
A global software business had completed a significant acquisition and needed to implement IFRS quickly as a result. Resources were stretched and the timeline was demanding. The client explicitly didn't have the management bandwidth to closely supervise the interim. We introduced an experienced Group Financial Controller who was technically exceptional and — critically — knew where to go to find answers independently. They required almost no active management and delivered on time.
The trigger: A technical accounting requirement is beyond the existing team's capability or capacity. Self-direction and technical precision are equally important.
20. Post-Deal Firepower
After a deal closes, investor information demands intensify at exactly the moment when team attrition is most likely. The CFO is fielding questions from a demanding new audience while simultaneously trying to rebuild the team. An experienced Group Financial Controller buys the breathing space the CFO needs.
Real situation
Post-deal situation — Interim CFO under pressure, team attrition, investor demands building
In a post-deal environment, the combination of heightened investor information demands and team attrition had reached a tipping point. The interim CFO was struggling to manage both the investor relationship and the rebuilding of the team. We placed an experienced Group Financial Controller to give the CFO the space to manage the investor audience confidently — and the time to rebuild the permanent team at a pace that didn't feel like a rush.
The trigger: A new investor is demanding more than the current team can produce. The CFO is pulled in too many directions. Something will break without additional resource.
21. If You Can't Change the Person, Change the Person
One of the most honest pieces of advice I've ever heard in this market came from a CFO in my network: 'If you can't change the person, change the person.' In lean, fast-growth businesses, underperformance in the finance team has consequences that compound quickly. An interim Group Financial Controller can fix the problem and build the foundation for the permanent hire to succeed.
Real situation
Fast-growing technology business — under-resourced, ill-equipped finance team, acquisitions on the horizon
A rapidly growing technology business had a finance team that was under-resourced and not producing the quality of information the business needed. With further acquisitions on the horizon, the lack of reliable monthly reporting and MI was becoming a serious strategic risk. We introduced an experienced Group Financial Controller from a fast-paced financial services background — someone who could fix processes, controls and systems quickly, and embed a foundation robust enough to bolt further acquisitions onto.
The trigger: The quality of financial reporting is not where it needs to be. The root cause is capability, not workload. Addressing it urgently matters more than addressing it cheaply.
INTERIM HEAD OF FINANCE — 3 REASONS
22. Avoid Robbing Peter to Pay Paul
The temptation when a junior team member leaves is to hire a like-for-like replacement. In a market where junior finance candidates are scarce and management time is stretched, this often takes longer and costs more — in lost productivity and management attention — than hiring at a slightly higher level for a shorter period.
Real situation
Business with junior team attrition — investor MI demands remain, management time poor
Several junior members of the finance team had left in a short period. The business still had investor reporting requirements that couldn't be paused. The preferred solution was a like-for-like senior management accountant replacement — but the market was difficult and management had no time to recruit carefully. We placed an experienced Interim Head of Finance who quickly got up to speed and contributed in a far broader way than a junior replacement would have — adding genuine bandwidth to a stretched team.
The trigger: Junior attrition has created a gap. The management time cost of a slow replacement process may exceed the cost of a more senior interim hire.
23. Upskilling on a Short-Term Basis
Replacing a long-serving, well-regarded team member is one of the hardest briefs in interim. The instinct is to find someone as similar as possible. The better approach is to use the interim period to raise the bar — bringing in someone with more experience than the role technically requires, who can leave the team and function in better shape.
Real situation
Privately owned business — replacing a trusted long-term employee
A privately owned business needed to replace a well-regarded employee who had been the heartbeat of their monthly reporting for years. Finding a like-for-like interim was almost impossible — and arguably the wrong brief. We introduced an experienced Group Finance Director who had plenty of experience going into settled environments, maintaining high standards and engaging the team positively. The business got more than it expected, and the permanent replacement inherited a stronger baseline.
The trigger: A trusted long-standing employee is leaving. The temptation is to hire like-for-like. The opportunity is to use the interim period to raise standards.
24. Quick Reaction to a Resignation
Resignations rarely come at convenient moments. When a direct report to the CFO leaves — especially with year-end or audit approaching — the response needs to be fast, structured, and focused on protecting the team members who remain.
Real situation
Successful retail business — direct report leaving for promotion, year-end approaching
A CFO at a successful retail business needed to replace a direct report who had accepted a promotion elsewhere. The remaining team was strong, but year-end and audit were imminent. Speed and quality of handover were paramount. We introduced an Interim Head of Finance who managed an orderly handover from the departing team member and provided the additional support the team needed through the year-end period.
The trigger: A key finance team member is leaving. Year-end, audit, or a transaction is approaching. The risk is that the remaining team is overwhelmed without rapid reinforcement.
Not Sure Which Role You Need?
The brief is rarely obvious from the job title. In most of the situations described above, the first conversation isn't about whether to hire a CFO or an FD — it's about what problem the business is trying to solve and how quickly.
If your situation feels like it maps to one of the above — or you're not sure — I'm happy to have a straightforward conversation about what good looks like for your specific circumstances.
Making an Interim Hire - Common Fears
Written by Ray Nicholls, Founder, Pitch Hill Partners
Engaging an interim is one of the most flexible and effective ways to solve a problem fast — but it can feel unfamiliar if you haven’t done it before.
Here are some of the most common questions we’re asked when clients are thinking about hiring an interim.
What’s the minimum hire period?
This is usually agreed upfront during the briefing process. We’ll establish the expected duration of engagement, and that timeframe helps shape the shortlist and candidate selection.
When an interim is engaged, the understanding is that they’ll stay for as long as they’re useful and adding value.
Once that value tapers off, you can bring the assignment to a close — and that flexibility works both ways.
Should we pay a day rate or a fixed-term contract?
It depends on the nature of the assignment, the seniority of the role, and how it aligns with IR35 (off-payroll working) rules.
A useful rule of thumb:
If the role could be fulfilled on an ongoing, employee-style basis, it’s inside IR35 and should likely be treated as salaried.
If it’s clearly project-based with defined outcomes and a natural end point, a day-rate arrangement is usually appropriate.
👉 Understanding off-payroll working (IR35) — GOV.UK
What hours do interims work?
Interims are engaged to deliver outcomes, not simply to “fill time”.
Their hours depend on the project scope, phase, and business need — though most work standard full-time hours during key phases.
The interim mindset is about being supportive and delivering results, not about clock-watching.
What if the hire isn’t quite what we expected?
Communication is key.
At the point of engagement, there should be clear deliverables or agreed success metrics.
If there’s a concern about fit, personality, or quality of work, it’s best to raise it quickly — either directly or through us — so we can address it before it becomes a problem.
Do we need to provide IT equipment?
It depends on the nature of the assignment.
For sensitive or highly regulated sectors, interims may be required to use company hardware for confidentiality reasons.
Most interims have their own professional setup and are perfectly comfortable using it unless your policies say otherwise.
How much notice do we need to give?
Ordinarily, one week’s notice is standard, but this can be agreed before the start of the assignment.
Flexibility is part of the interim model — so you can adjust this depending on the length and complexity of the engagement.
Who advises the interim that the assignment is ending?
That’s up to you.
You can handle the conversation directly or, if you’d prefer, we can manage it on your behalf.
Either way, we’ll make sure the communication is handled professionally and respectfully.
Will the interim consider staying long-term or taking a permanent role?
It happens occasionally, but it’s rare.
Most interims thrive on variety, challenge, and change — they enjoy stepping in to solve problems and then moving on.
That said, if the chemistry and opportunity are right, a longer-term conversation can absolutely happen.
Why Hire an Interim?
Written by Ray Nicholls, Founder, Pitch Hill Partners
Hiring an interim gives you expert impact, fast, without long-term commitment. The focus should be value, not cost.
Example: if you bring in a finance specialist at £1,000/day to unlock £500k of R&D Tax Credits, the ROI speaks for itself.
Strategic expertise on demand
1) You can’t yet afford a permanent CFO, but you need senior firepower
Ambitious, growing businesses often need a CFO’s expertise before they can justify a full-time salary.
If you’re raising debt or equity, shaping the story for lenders or funds is critical — having someone who’s done it many times is a no-brainer.
2) Condition of fundraising: investors want more finance maturity
To give PE/VC confidence, bring in a senior finance leader to build a reporting framework and financial model.
They don’t have to be full time: they can set things up, hire a capable permanent team member, and stay involved for board reviews (e.g., one day a month).
Stabilise, triage, and protect value
3) The business is unstable
Pulling someone out of a permanent job into uncertainty can be ethically tricky.
A short-term interim is a safer, smarter way to stabilise, fix issues, or support a fundraise.
4) Suspected fraud or you need an independent business review
If something doesn’t smell right, an impartial interim can run a “drains-up” review of controls, systems, and cash.
Lenders may insist on an expensive IBR; a targeted interim review is often faster and more cost-effective.
5) Unstable leadership team
A seasoned interim CFO can steady the ship across HR, IT, Legal, Property — essentially everything non-sales — while you resolve leadership dynamics.
Project-based, outcome-led work
6) You need specialist skills for a defined project (e.g., systems/ERP, fundraise, M&A)
For well-scoped work with a clear end point, an interim specialist is ideal — provided outcomes are tightly defined up front.
7) Project spikes and bandwidth gaps
During year-end, audits, major bids, new contracts, or strategic reviews, interims give you plug-and-play capacity without adding permanent overhead.
Tip: Ensure knowledge transfer. Involve permanent staff in scoping, rollout, and handover so the interim leaves a proper legacy (models, forecasts, documentation).
Bridging the hiring gap
8) Permanent hire process is lengthy / notice-period cover
Don’t rush a bad decision. Take time to reference and meet a range of candidates.
Use an interim to bridge long notice periods, or agree a phased start with your preferred permanent hire.
How interims work (quick clarifiers)
Minimum period: Agreed at briefing; they stay only while adding value.
Hours: Outcome-driven; typically full-time during key phases, flexing with scope.
Equipment: Many interims use their own kit; regulated sectors may require client hardware.
Day rate vs FTC: Depends on scope, seniority, and IR35. Project-based/outcome-led work often suits day rates; ongoing roles tend to be inside IR35 and closer to salaried.
Interim Explained
Written by Ray Nicholls, Founder, Pitch Hill Partners
Hiring an interim can feel unfamiliar if you haven’t done it before. Here’s a clear guide to who they are, how they work, what they cost — and what you should expect throughout the engagement.
What is an interim candidate?
An interim is an experienced professional who’s faced a similar business challenge to yours — and delivered a successful outcome.
They’re task-focused, detail-driven, and highly conscious of their cost-versus-value ratio. Their focus is always on fixing, improving, and moving things forward.
Does the candidate have to have done a lot of interim assignments before?
Not necessarily. It’s more about mindset than mileage.
Someone who’s been dropped into tough situations, simplified complexity, and delivered results is well-suited to interim work.
The best interims are curious, impatient for progress, and articulate.
By contrast, someone who’s repeated the same annual cycle for twenty years may struggle in a fast-changing, ambiguous environment.
What makes a great interim?
They make the complicated simple.
They perform a deep discovery, design a clear plan, execute, and exit — leaving lasting structure behind.
Why not hire a permanent person instead?
Sometimes that’s the right choice — and if it is, we’ll tell you.
There’s no point in spending money on an interim if what you really need is a permanent leader. But for short-term challenges, transformation, or uncertainty, interims are the smarter option.
How long does an interim assignment usually last?
Most clients think they’ll need someone for three months — but six months is far more typical.
Assignments can extend naturally if the project scope grows or if the interim continues to add clear value.
What hours do interims work?
They’re outcome-driven rather than time-driven.
Most work full-time during critical phases, but the emphasis is always on delivery, not attendance.
Do interims expect to go permanent at the end?
Generally, no.
They join to complete a defined piece of work, then move on. If the chemistry and timing are perfect, it can happen — but it’s rare.
How long do they need to stay — and do they have to complete the full contract?
Interims stay for as long as they’re adding value and both sides want to continue.
If a point comes when a more junior permanent resource would be better, it’s discussed openly and transitioned smoothly.
How do we incentivise an interim to stay for the full duration?
You can offer certainty in a few ways — a guaranteed minimum contract length, an attractive day rate, or a completion bonus.
For highly critical assignments, some businesses offer options or equity in return for a discounted rate.
What happens when the interim leaves — will they leave a legacy?
They should, absolutely.
A good interim leaves your business stronger than they found it — with clear handovers, simple models, robust processes, and logical documentation. Nothing should walk out the door with them.
What if it isn’t working out?
Sometimes things change — priorities, personalities, or business direction.
Either party can end the assignment at any reasonable point.
The key is open communication to ensure a professional and respectful transition.
How do you source interim candidates?
We interview new candidates every day — usually two or more.
Not everyone is a career interim, but many are open to assignments between roles.
Referrals from our network are constant — candidates often introduce us to peers they respect.
Which geographies do you cover?
Our core focus is the UK and near Europe, though our network extends globally through long-standing finance connections.
Do you maintain an interim network?
Yes — actively.
We have around 300 live interim professionals, split across CFO, FD, FC, and Corporate Development roles.
We stay in touch regularly, but vary contact depending on their availability and interest.
Can you help us write a role brief?
Absolutely — it’s one of the most enjoyable parts.
We’ll work with you to define outcomes, deliverables, and audiences for their work.
We’ll also blend in the interesting parts of the brief to make the opportunity attractive in a competitive market.
Do you reference interims?
Yes, if requested.
That said, we often recommend you speak directly with a previous CEO or Chair for context.
Each assignment is unique, and sometimes the interim’s role is to challenge rather than please — so references should reflect the assignment’s nature.
Who should interview the interim?
Anyone who will rely on their output or work alongside them.
For example, if the interim will be producing new board reports, involve the investors who’ll use them.
How many interviews should there be?
At least one face-to-face, ideally two.
Never rely entirely on Teams or Zoom — meeting in person gives a far better sense of chemistry and communication.
Cost: how are interims paid and how does invoicing work?
Costs depend on several factors:
Cash position of the business
Location
Duration of the assignment
Whether expenses are paid
Impact of the role (e.g. fundraising, refinancing, M&A)
Payment options:
Day rate: the interim invoices you directly through their limited or umbrella company.
Payroll: occasionally, for longer or IR35-inside arrangements.
Our own invoicing is separate.
How much do you charge?
We’re fully transparent:
If your business turns over under £10m, our fee is 20% of the candidate’s day rate.
If your business is over £10m, our fee is 25–30%, depending on how we were introduced.
25% if referred by an existing mutual contact.
30% if you found us directly (e.g. via our website or marketing).
How do we know if the interim is inside or outside IR35?
This is determined by the Government CEST test (Check Employment Status for Tax).
The interim themselves doesn’t decide.
👉 CEST tool on GOV.UK
Does the client need to provide IT equipment?
It depends on the role and sector.
In regulated industries, client hardware is often required.
Otherwise, most interims use their own professional setup.
How often will you speak to us or the interim during the assignment?
Very regularly early on — then at least monthly.
We keep close contact to ensure both sides are aligned and supported.
Should we give feedback to the interim, or do you handle that?
Both.
You should feel free to give honest, direct feedback to your interim.
We also collect feedback for our records and to help each professional improve their future assignments.
Should we write a reference for the interim afterwards?
Only if you’re comfortable.
If so, we suggest offering to take an informal reference call rather than writing something formal — it’s often more helpful and authentic.
Why use Pitch Hill Partners?
Written by Ray Nicholls, Founder, Pitch Hill Partners
Choosing the right executive search partner matters.
Here’s how we think about what makes a great relationship between client and recruiter — and why businesses choose to work with us.
You’re a newer firm — why should we trust you?
Engaging a search business with a strong track record of delivery and reputation is always important.
It’s natural that talented recruiters eventually start their own firms — and when they do, they bring experience, networks, and credibility with them.
Check how long your search partner has worked in their specialist area, who you know in common, and ask for references.
Everyone needs their first supporters and success stories — perhaps that could be you.
You don’t have a flashy central London office
True. We don’t need one.
The days of marble reception desks and postcode prestige are gone.
Our investment goes into the things that actually deliver results: data sources, IT infrastructure, and flexible workspace.
We’d rather be agile, efficient, and accessible — not expensive for the sake of appearances.
You’re not an established global brand
Correct — and intentionally so.
Our brand is personal to its founder and meaningful to clients.
Discretion, professionalism, and authenticity matter more than corporate gloss.
What about market or regional coverage?
Geography matters less than it used to.
Hybrid working has opened up national and even international talent pools for regional businesses.
We meet clients in their own environment and interview candidates both locally and nationally for every assignment we run.
You don’t specialise in a single sector
We’ve chosen to specialise in a single function — finance — rather than one narrow sector.
Finance leadership is universal. Accountants are logical, methodical, and curious; their skill set travels across every industry.
There’s already plenty of sector expertise around your board table — our focus is to find the finance leader who can partner with it.
You’re a small team
We see that as a strength.
Technology gives us the reach of a large firm; our experience and personal engagement give us the responsiveness of a boutique.
The more layers a firm has, the more expensive and impersonal the process becomes.
With us, you’ll always deal directly with the decision-maker.
We haven’t worked with you before
That’s absolutely fine — in fact, it’s often refreshing.
We invite you to leave previous recruitment experiences behind and expect total transparency in how we work.
Every search is a chance to shape your business for the better, and we treat it that way.
Aren’t you too expensive?
Value and cost are not the same thing.
If the impact a hire makes on your business far outweighs the fee, that’s value creation — and that’s what matters.
We price fairly and transparently, always aligned to the seniority and strategic value of the hire.
We already have other recruitment providers
That’s fine too — relationships matter.
But ask yourself:
Are you genuinely delighted with their service?
Do they make the process easy?
Do they challenge and manage expectations?
If not, it might be time to try a different approach.
We’re not right for every company — we’re right for those who want partnership, honesty, and results.
We have an experienced in-house talent team
Perfect. We love partnering with internal teams.
We bring specialist CFO and finance-leadership knowledge, deep networks, and the ability to “sell” your opportunity to senior candidates who might not otherwise engage directly with a business.
In-house + specialist search = the best of both worlds.
We’ve had a bad experience with recruiters
That’s more common than it should be — and a good place to start.
We’ll unpack what went wrong last time and rebuild from there.
Often, the departure of a finance leader triggers a like-for-like replacement.
We’ll challenge that by tying your next hire to your future strategy, not your past structure — ensuring the role fits where your business is going, not where it’s been.
Don’t you only recruit interims?
Interim search is our area of deep expertise — but the skills translate directly to permanent executive search.
Both involve problem-solving, urgency, and understanding business personalities.
The words “interim” and “permanent” are recruitment labels; in reality, it’s all about finding the right leader for the situation.
How will you find candidates if we haven’t heard of you?
Through trust and reputation.
Most of our candidates come via recommendation and referral — from investors, founders, CFOs, and advisors we’ve worked with before.
We also use leading data and sourcing platforms like LinkedIn and Pitchbook, giving us both reach and credibility.