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Securing Title of Portfolio Company CFO

Securing Title of Portfolio Company CFO

Becoming the financial chief of a private-equity portfolio company can be difficult, but there are a number of steps aspiring CFOs can take in order to get their foot in the door and work their way up the corporate ladder, reports.

Sean Carroll, an executive recruiter, told the publication that although reaching the executive level of portfolio companies can be intimidating, it can be accomplished by establishing relationships with founders and CEOs, instead of the individual investors.

"It’s still not easy; you have to knock on a lot of doors," Carroll explains, but networking in this manner is likely the best strategy.

Additionally, current CFOs can maintain their position when their firm is acquired by a private-equity company by simply staying on board and demonstrating their skills to the board. As Carroll explains, investors will typically offer the first chance to the current CFO, as long as the financial boss learns quickly on the job and shows progress.

One recent example of this was the acquisition of independent broker-dealer First Allied by private-equity firm Lovell Minnick Partners, which said that no operating changes are expected to be made through the transition process, according to Financial Advisor Magazine.