The job market is competitive, and good talent is often in short supply, that is why organisations are increasingly turning to ‘hidden search’ (discreet recruitment) to fill senior vacancies. Instead of publicly posting their management vacancies on job boards, a headhunter actively seeks out suitable candidates through private channels, such as personal networks. This discreet approach helps avoid internal turbulence and strengthens your strategic position, without attracting the attention of competitors.
Hidden search is a strategic recruitment method whereby companies attract talent without publicly advertising vacancies. This approach is increasingly being used for specialist roles, interim management or senior positions. It is all about precision and discretion, enabling companies to identify and approach the best professionals in a targeted manner. By utilising market knowledge, networks and specialist headhunters, companies can work in a targeted way. Candidates are approached confidentially, without the market being aware of it.
This approach provides access to so-called ‘passive’ candidates; professionals who are not actively looking for a job, but who are (latently) open to new opportunities. The focus here is on quality rather than quantity. And because the recruitment process takes place behind the scenes, competitors and/or employees are unaware of the recruitment activities. This prevents speculation in the market or unnecessary internal unrest.
There are several reasons why organisations are increasingly opting for this discreet approach:
This development is making the work of recruiters less visible. The focus of recruitment is shifting from advertising to proactive searching, from visibility to discretion, and from volume to quality. As a result, networking, search skills and confidentiality are becoming increasingly important.
Hidden search offers interesting advantages, including for SME entrepreneurs. You reach candidates who are not actively looking but are open to the next step. And these are often the strongest profiles. It also reduces the workload; instead of dozens of unsuitable applications, you receive a small, relevant selection. By operating under the radar, you also prevent competitors from identifying your plans or growth direction prematurely, or from causing internal unrest.
Although hidden search offers many advantages, there are also a few points to consider:
Hidden search is not a replacement for traditional recruitment, but a complement to it. In practice, both methods are used side by side: open recruitment (increasingly via social media channels, relying heavily on strong employer branding) for scale and visibility, and hidden search for key positions and senior management. This approach is a logical consequence of a changing labour market in which talent is scarce and strategic choices are becoming more sensitive. For Hiring Managers and for entrepreneurs, hidden search offers good opportunities to attract talent in a more targeted and effective manner, provided it is used correctly. A strong network, a clear strategy and the right balance between visibility and discretion are essential for success.
Would you like to know if and how hidden search can help your organisation? Then please contact the specialists at Friisberg.
This week, in our interview series ‘In the C-Suite’, Nevena Nikolova, from our office in Sofia, talks with Alexander Montchovski, Interim Executive Director at UNICEF, about his career in Interim Management.
If I look at my career honestly, it never followed a traditional corporate ladder. What it did follow is a pattern: I was always invited into situations where something wasn’t working as it should and where change had to happen fast.
I helped scale a fashion e-commerce business across 15 countries to €50M. I built and led global teams at Amazon Advertising serving three continents. I took over a 350-person omni-channel organization as General Manager and later transformed it digitally across 21 markets as Chief Digital Officer. I led global brand marketing for Notino across 28 countries with double-digit growth and I built my own businesses in Canada and Europe.
Today, I serve as Interim Executive Director at UNICEF Slovakia during a leadership transition.
Although I have worked in different industries, there is the same reason I was there: to bring clarity, structure, performance, and calm into complexity. Only later did I realize that this is exactly what interim management is.
A consultant observes and recommends whereas a permanent executive plans for the long term whereas an interim executive walks into the room and starts fixing things on Monday morning.
Interim management is about immediate accountability. You don’t have the luxury of long onboarding, politics, or observation, instead you enter, you understand very fast, and you act.
You are there for outcomes, not for presentations.
Interestingly, companies rarely say: “We need an interim manager.” They say:
What they actually need is someone who can step in, see the full picture quickly, and create order without drama. That is where I am usually called.
The first visible change is not strategy, it is clarity.
Within months you see:
At Studio Moderna this translated into profitability improvements. At UNICEF Slovakia it translated into operational stability and performance focus before any big plans.
Interim impact is visible very quickly because it removes noise.
Because I am temporary, I don’t threaten anyone’s position. I am not part of internal history, I am there to make everyone’s work easier and clearer.
I listen intensely, identify patterns fast, and solve practical problems that teams feel immediately.
Trust is built when people realize: “This person is here to help us perform better, not to judge us£ and that works in every country.
The biggest misconception is that interim is “expensive consulting”. In reality, interim management is often the cheapest way to stop months of inefficiency, wrong decisions, and slow progress.
Another misconception is that “temporary” means low commitment. In fact, interim executives are often more committed because they are measured purely by results, not tenure.
I see huge potential in:
These are environments where experience and speed matter more than hierarchy.
For companies: Give the interim executive access, authority, and a clear mandate. The value comes from action, not observation.
For senior professionals: Interim management is not for those who want comfort. It is for those who enjoy walking into complexity, making sense of it quickly, and leaving the organization stronger than they found it.
Interim management provides something organizations rarely have during critical moments:
Clarity without politics, speed without chaos, and results without excuses.
The biggest mistake is trying to solve structural problems with motivational solutions. Organizations often invest in workshops, strategy decks, or team-building while the real issue is lack of clarity, accountability, and ownership.
Studies from interim management associations across Europe show that over 60% of interim assignments are triggered by organizational inefficiency, unclear responsibilities, and lack of performance structure, not lack of strategy.
Interim leadership addresses structure first. Once structure is in place, performance and morale naturally improve.
Experienced interim executives rely on pattern recognition. Within days, you can assess:
Research shows that high-performing organizations spend 30 - 40% less time in internal coordination because roles and reporting are clear. That difference becomes visible very quickly when you enter an organization.
Digital transformation is often misunderstood as technology implementation. In reality, it is about transparency and visibility.
Dashboards, reporting tools, CRM systems, and data analytics create something powerful: accountability based on facts.
In my experience at Studio Moderna, Notino, and UNICEF, introducing data visibility led to faster decisions and measurable performance improvements. Organizations that use real-time data in decision-making improve operational efficiency by 20 - 25% on average, according to McKinsey research.
Digital clarity removes assumptions.
Initially, there is caution because people don’t know whether change will create more pressure. Very quickly, when they see simplification, clarity, and removal of unnecessary complexity, the reaction shifts to relief. In fact, surveys in companies that used interim executives show that over 70% of employees report improved clarity in roles and priorities within the first 3 months.
Most teams are not resistant to change, they are resistant to chaos.
You need to be comfortable with uncertainty and capable of making decisions quickly with incomplete information.
You need strong pattern recognition so you can see in days what others see in months and you must be emotionally neutral. Interim executives are effective because they are not attached to internal politics or positions.
This neutrality is often cited as one of the top 3 reasons companies choose interim leaders over internal promotions.
When the organization no longer depends on you.
When reporting works without reminders, when teams make decisions confidently and when structure holds on its own.
Industry data shows that successful interim assignments typically last 6 - 9 months, and their success is measured by how sustainable the improvements remain after departure.
The goal is to build a system that works without the person.
Because the impact is visible and measurable very quickly.
Interim executives are often brought in during periods where organizations lose months or even years due to inefficiency. Bringing clarity, structure, and performance in a short period is extremely rewarding.
Research across Europe shows that over 75% of companies that used interim executives report measurable financial or operational improvement within the first 6 months.
You enter complexity, create clarity, and leave the organization stronger than before.
It started as a medical story.
Drugs like Ozempic and Wegovy were developed to treat diabetes and obesity, but now they are reshaping something much broader: how people eat, drink, socialise and spend.
This is where it becomes a business story - and more importantly, a leadership one.
The UK has one of the highest obesity rates in Europe. According to the NHS, over a quarter of adults are classified as obese, with a further large proportion overweight. That alone explains why demand for GLP-1 medications has accelerated so quickly, but the impact is no longer confined to healthcare.
Emerging data points are starting to connect:
Individually, these signals look incremental and taken together, they point to something more structural:
A cohort of consumers is changing its behaviour faster than the businesses serving it.
We have seen waves before: low fat, low carb, plant-based and most were gradual - in fact many were reversible. I don't think this is.
GLP-1 medications work by altering appetite regulation, so people eat less, and then they feel full sooner. In many cases, they lose interest in categories they previously consumed regularly.
That has second-order effects:
This is not preference, it is physiology and that makes it more durable.
The real issue for businesses is not whether this trend continues, it is whether leadership teams are equipped to respond to behavioural change at this pace.
Most organisations are structured to:
That model works when change is linear, but it fails when change is non-linear and human-led because by the time the data is conclusive, the behaviour is already embedded.
If even a modest percentage of the UK population adopts GLP-1 medications over the next five years, the implications are significant:
This is not about decline, it is about redistribution of demand.
Some businesses will adapt early and capture it whereas others will continue optimising for a consumer that is already changing.
Many leadership teams are still:
But this environment demands something different:
Because the uncomfortable truth is this:
Markets do not wait for leadership teams to feel ready. They move, and advantage shifts to those who act first.
This is not really about weight-loss drugs, it is about what happens when human behaviour shifts quickly and at scale, and whether leadership is capable of keeping pace.
Most organisations will not miss this because they failed to see it, they will miss it because they saw it too late to respond.
At Friisberg UK, we are increasingly asked the same question in different forms:
What kind of leadership do we need for a market that is changing faster than our organisation is built to handle?
The answer is rarely found in a job description. It comes from experience, from pattern recognition across markets, from having seen cycles of change before and knowing when this time is different.
Friisberg is a long-established firm with deep, cross-sector expertise and a genuinely international perspective. That matters at a point like this, because when behaviour shifts quickly, decisions cannot be made in isolation or based purely on precedent.
They require:
This is the shift that matters:
When behaviour changes faster than businesses, leadership becomes the only real lever of advantage.
And the organisations that recognise that early do not just keep up, they move first.
For years I have argued that HR leaders should have a seat at the top table and in many organisations, they now have it. The question is now whether the role has fully caught up with the expectations that come with it.
Across the UK, that expectation has shifted decisively and being an HR expert is no longer enough. The Chief People Officer is now expected to operate as a business leader first, with HR expertise as a given rather than a differentiator.
That shift is not theoretical. It is playing out in how organisations are structured, how decisions are made, and where accountability now sits.
The scale of the profession alone tells part of the story. Chartered Institute of Personnel and Development represents more than 160,000 members, reflecting the breadth and maturity of HR in the UK.
At the same time, the remit of senior HR leaders has expanded significantly. From ownership of gender pay gap reporting to direct accountability for workforce strategy, culture, and increasingly elements of ESG and reputation, the CPO role now sits much closer to the centre of business performance than it did even five years ago.
Overlay that with the impact of AI and workforce transformation, and the role becomes more complex still. HR is no longer simply managing people. It is shaping how work is designed, how technology is integrated, and how organisations remain competitive.
This is not evolution at the margins, it is a fundamental redefinition of the role.
And yet, in many boardrooms, there remains a disconnect.
The expectation of the CPO role has moved faster than capability in some cases. Technical HR excellence is still essential, but it is no longer what differentiates a top-tier CPO. The differentiator is commercial judgement, the ability to understand value creation, and the confidence to influence decisions that extend far beyond the people agenda.
The strongest CPOs I work with do not lead with policy, they lead with impact. They understand the business as well as any CFO or COO, and they are prepared to challenge, not just support.
The language of HR as a “support function” no longer reflects reality. In practice, the CPO role now spans workforce strategy, leadership capability, organisational design, risk, governance, and culture, all of which sit directly on the critical path to performance.
The boundaries have dissolved and what remains is a role that is central to whether a business succeeds or fails.
This shift is being accelerated by three forces that are not going away:
In that context, HR expertise is the entry point because business leadership is the requirement.
At Friisberg, I am seeing this play out very clearly in how clients define their needs. They are not asking for functional excellence alone, they are asking for leaders who can shape outcomes, challenge thinking, and bring genuine commercial perspective into the room - that is a different profile and often a different career path.
I sit in boardrooms where the gap is obvious, not because HR lacks capability, but because the expectation of the role has outpaced how it is still sometimes defined.
Equally, I sit with exceptional CPOs who are already operating at that level, influencing strategy, shaping decisions, and quietly becoming some of the most critical voices in the business.
The difference between those two groups is not technical skill, it is how they see their role.
I no longer think the question is whether HR has earned its seat at the table because I think that argument has been won.
The real question is whether you are using that seat to shape the direction of the business, or simply to respond to it, because from where I sit, the organisations that will outperform over the next decade will not be the ones with the best HR functions, they will be the ones where the CPO is one of the most commercially influential people in the room.
UK defence spending is moving beyond baseline commitments, exceeding 2% of GDP and continuing to rise, while the focus of that investment is shifting towards advanced capability, digital infrastructure and next-generation technologies.
The industrial impact is already clear with the UK defence sector generating over £30bn annually and strong export performance reinforcing its position as a globally relevant partner, but this is not simply a story of scale.
Geopolitical pressure is accelerating change as the UK deepens collaboration with international partners and responds to immediate operational demands, from counter-drone capability to maritime security, yet at the same time tension is building within the system, with budget constraints, programme complexity and competing priorities forcing difficult trade-offs even as expectations of capability continue to rise.
The result is a sector that is simultaneously expanding and becoming more complex, and that has a direct implication for leadership.
The most effective leaders in UK defence today are not defined purely by technical expertise or tenure, but by their ability to operate at scale, manage ambiguity, align multiple stakeholders and deliver outcomes in environments where commercial, political and operational pressures intersect.
At Friisberg, we are seeing this play out consistently in our client work, and through our long-standing experience in senior appointments and advisory in the sector. Andrew Guy, who leads Friisberg’s Global Defence Practice Group, is currently working with organisations navigating this shift, supporting the identification and assessment of leaders who can operate at this level of complexity, including those with deep experience of the UK Ministry of Defence as a customer.
As a result in the UK, we are currently engaged with a number of clients across Defence & Aerospace on senior executive searches, with a particular interest in UK-based leaders at Director, VP, SVP, EVP and CXO level who have led Business Units or held divisional P&L responsibility, or delivered programmes and projects typically in the range of £100m to £1bn+, and who understand how to operate effectively within the Ministry of Defence’s commercial and operational environment.
For years, technology was seen as a back-office function. It kept systems running but rarely influenced the bigger picture. That is changing fast.
According to McKinsey & Company’s Global Tech Agenda 2026, CIOs are moving from managing infrastructure to shaping strategy. Technology is no longer just a tool for efficiency, it is now the engine of growth and competitive advantage.
This means companies need to broaden their hiring criteria. Exceptional CIOs today combine technology mastery with strategic vision. They understand AI and digital platforms, but they also know how to influence business strategy, drive innovation and lead cross-functional teams. Organisations that continue to hire solely for technical depth risk missing leaders who can translate technology into tangible business impact.
Experience in embedding AI at scale, building product and platform operating models and creating intelligence layers is increasingly valuable. Equally important is the ability to lead people through change, foster collaboration and connect technology investment to business outcomes. Talent that can bridge the business-technology divide is rare and mission-critical.
Companies should also prioritise agility and speed in their search. The market for hybrid leaders, those who combine technical credibility with business insight, is competitive. Broader criteria, targeted scouting and structured evaluation of leadership behaviours alongside technical skills are essential.
In short, the CIO of 2026 is not just a technology manager. They are a growth enabler and a strategic partner. Executive search must reflect this reality. Broaden your lens, look beyond the resume and focus on leaders who can translate technology into enterprise advantage. The organisations that succeed will not just implement systems, they will design their future around technology.
To see how Friisberg can support your business, get in touch with our consultants here: https://friisberg.com/consultants/
Ahead of International Women’s Day on Sunday, we have been hearing from our female partners across Friisberg who have shared their reflections on leadership, careers and the decisions that shape them. Today new data published from LinkedIn’s Economic Graph explores how representation in leadership is evolving, or not... The findings point to a clear trend. Progress has not stopped, but it has slowed.
Globally, women represent 44% of the workforce but only 31% of leadership roles. The gap becomes even more visible at senior levels, where women hold just 31% of VP-level roles and above. Between 2015 and 2022, the share of women in leadership increased steadily at around 0.4% points per year. Over the past three years that pace has slowed to roughly 0.3% points. The difference may appear small, but over time it affects how quickly leadership teams become more balanced.
Across many sectors, women are well represented in the workforce but less visible in the most senior roles. Whilst women hold close to 50% of entry level roles in many organisations, representation falls to around 25% at C-suite level, illustrating how the leadership pipeline narrows over time. The issue is not only about hiring but also about how leadership talent is developed and promoted over time.
Geopolitical factors also influence hiring and promotion decisions. Recent data suggests the share of women hired directly into leadership roles has declined slightly in some markets. When progress slows during periods of uncertainty, leadership gaps can remain in place for longer than expected. For boards and executive teams thinking about succession, the question is therefore not only about current leadership composition. It is about the strength and breadth of the leadership pipeline over the next five to ten years.
We wrote a recent article about the EU Pay Transparency Directive, being implemented from June 2026. This will require organisations across the European Union to introduce greater transparency around pay structures. The directive will require salary ranges to be shared during recruitment processes, prohibit employers from asking candidates about salary history, and give employees stronger rights to request pay information for comparable roles.
As explored in our recent article, boards increasingly face a choice. They can shape the narrative around transparency and pay equity, or they can respond reactively as regulation and expectations evolve.
At Friisberg, we believe strong leadership is shaped by diversity of thought, experience and perspective. Leadership teams that bring together different viewpoints are often better equipped to challenge assumptions, assess risk and make well considered decisions. Diversity therefore goes beyond representation alone. It influences how organisations think, debate and ultimately lead. For boards and executive teams, building leadership teams with varied perspectives is an important part of long-term organisational strength.
The perspectives shared this week by women across Friisberg highlight an important reality. Leadership journeys are rarely linear. They depend on opportunity, support and judgement at key moments in a career.
Data helps us understand the broader pattern. Individual experience helps us understand what sits behind it.
International Women’s Day is an opportunity to reflect on progress, but also to consider the decisions that shape the future of leadership. For organisations thinking about the strength of their leadership pipeline, those decisions start long before the C-suite.
"February has been filled with strong collaboration across our offices and active participation in key industry events. Our Insights articles addressed current leadership challenges, including how technology and electrification are reshaping competition, why many senior leaders do not apply through traditional channels, and how leadership dynamics differ across Central and Eastern Europe. We were pleased to feature Olli Kilpi in our Employee Spotlight. With 25 years of leadership experience across FMCG, retail and the restaurant sector, Olli brings practical operational experience and a clear focus on people and performance.
In India, Dorota Cagiel represented Friisberg at the Economic Times Global Business Summit in Delhi, where discussions highlighted growing international interest in India as a long-term partner. She also attended the HR Conclave organised by the Indo-French Chamber of Commerce & Industry, sharing the view that AI should be treated as organisational redesign rather than simply a new tool. In the UK, Andrew Guy attended the Defence and Security Debate hosted by Insider Media, where leaders discussed developments in the defence and security sector". Zoltán Pethõ, Chair Friisberg.
Dorota Cagiel recently represented Friisberg at the The Economic Times Global Business Summit in Delhi, joining business leaders and policymakers from across the globe. Conversations both on stage and between sessions highlighted that there is a clear and growing global interest in India, not just as a market, but as a long-term partner.
Last week, at a very well-attended Defence Sector event near Birmingham organised and hosted by Insider Media, Andrew Guy of Friisberg UK met and mixed with business leaders from across the defence and aerospace supply chain. Andrew, who heads up Friisberg’s Defence Practice Group, and was one of the CBI’s SME Council members at its inception, was delighted to hear from the various representatives of Government at national and regional levels about UKDI’s (UK Defence Innovation) latest initiatives to drive the greater involvement of SMEs in the creation and provision of new technologies. The audience was also briefed on the timely formation of the DOSBG (Defence Office for Small Business Growth).
Most organisations still approach senior hiring as though it operates like every other type of recruitment. A role is defined, an advert goes live, applications arrive, and the strongest candidate is selected. It is neat, logical and familiar, and it is also almost entirely detached from how leadership talent actually moves. The reality is this. Your next CEO, Managing Director or critical functional leader is extremely unlikely to be applying for your role. In most cases, they are not looking at all.
At early and mid-career levels, advertising works because there are a healthy population of active candidates exploring options and responding to outreach. At senior level, the dynamic is fundamentally different. High-performing leaders are typically well compensated, deeply embedded in their organisations, leading major programmes or transformations, and highly visible to competitors. They are not scrolling job boards, they are running businesses.
There is also a human factor that often goes unspoken. By the time someone reaches executive or board level, career decisions stop being about incremental pay or title progression. They become about strategic impact, cultural fit, reputation risk, timing and legacy. Changing roles is a high-stakes decision, not a speculative one, which is why senior leaders rarely respond to generic outreach or public adverts.
Instead, movement happens through trusted conversations, a discreet call, a credible introduction and a thoughtful discussion about purpose and mandate rather than just a job description. In many cases, the opportunity did not exist in their mind until someone they respect made it visible. This is not recruitment marketing. It is advisory engagement.
Read the full article written by Lorri Lowe on our website here: Why the Best Leaders Never Apply - Friisberg & Partners International
This month we launched out ‘In the C-suite’ series where we spoke with a number of professionals that Friisberg has supported throughout their careers. The series shines a light on the different professionals and industries that we work with here at Friisberg. Head to our website to read their full interview: Insights & News - Friisberg & Partners International
We spoke with:
Olli Kilpi joined the Friisberg family in August 2025, bringing with him more than 25 years of leadership experience across FMCG, the restaurant business, and retail. On today’s dynamic leadership landscape: Olli notes that market volatility requires executives who are resilient, agile and empathetic. He says that leaders with a fixed agenda often struggle in environments shaped by rapid change, and that success increasingly depends on adaptability and clarity in communication.
When asked what makes a successful leadership team, Olli emphasises understanding the context, the company’s values, culture and strategic goals. While there isn’t a “one-size-fits-all” quality, he believes attitude stands out - a winning spirit, willingness to challenge oneself and an eagerness to keep learning.
Olli also shared a key tip for executives: at the end of the day, leadership is about people. No matter how strong a product or strategy, organisations cannot succeed without the right team around them - investing in, believing in and developing people is crucial.
Reflecting on his career transition, Olli points to his time at McDonald’s as foundational. He highlights that the company’s focus on people, combining long-tenured talent with fresh perspectives, taught him lots about hiring, developing and leading teams.
Read the full interview here: Employee Spotlight: Olli Kilpi - Friisberg & Partners International
Across CEE, an estimated 60 to 70% of senior leadership appointments are triggered by unplanned events rather than long term planning. Yet almost half of these appointments underperform or fail within 18 to 24 months. In most cases, this is not due to lack of capability, but because decisions are made with incomplete market insight.
Leadership markets in CEE are thin and relationship driven. In many countries, the realistic pool of board ready CEOs or CFOs numbers fewer than 30 to 40 individuals. Market mapping repeatedly shows that the same 10 to 15 profiles circulate across multiple shortlists, reinforcing familiarity while quietly reducing optionality.
The most effective leaders are rarely visible and almost never actively looking. They move quietly, through trust and timing rather than open processes. Without a structured and current view of the market, boards are forced to operate with partial information.
This is where leadership market mapping becomes a strategic discipline rather than a support function. Properly done, it is not about preparing to hire. It is about understanding how leadership power, influence and mobility actually function across a region.
Read the full article written by Nevena Nikolova on our website here: Leadership in CEE: - Friisberg & Partners International
We hope you enjoyed this month's edition of Inside Out.
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Friisberg began working with the Bang & Bonsomer Group in 2004, when Nijole introduced Ernestas to the organisation. In 2009 he moved into the Food & Ingredients division as Business Unit Director before later becoming Chief Business Development Officer. He is now the CEO of Bang & Bonsomer Group and Ernestas remains deeply appreciative of the role Friisberg played in shaping his career.
I originally joined Bang & Bonsomer Group as the Managing Director for Lithuania and was soon appointed to the board. I now live between Finland and Lithuania.
I like to say that we are the invisible player in B2B. No one knows who we are, but we supply raw materials to industries internationally, we are everywhere but no one sees us! We cover a wide range of areas such as beauty & personal care, construction & industrial materials, environment & industry, food and polymers & packaging.
I like to tell people to spend time with a clever person. When I say a clever person I mean yourself. I think it’s really important to take time to learn about yourself, recap, reflect and plan. I often like to do this while I’m walking by the water in Helsinki after work - I find that walking helps to calm my mind and helps me to reflect.
The main quality I look for is what I call RMA. That means the Right Mental Attitude. This is even more important when hiring executives. With athletes there is a saying that it’s about having 5% talent and 95% the right mental attitude. I totally agree with this saying and believe that you can make anything happen if you have the right attitude!
The main piece of advice I’d give is to be yourself and be objective to yourself. It’s good to be ambitious but you should also realise what’s expected from you.
I think it’s very much specific to the position and on a case-by-case basis. Before I was CEO, I was head of the food division, and I’ve transitioned into this role. My team are specialists, but you need different skills and diversity of thought to add value – here is where the right mental attitude is more important! I think it’s easier to learn new skills and it’s a danger to become too narrow, you should be able to direct yourself to new skills and be adaptable.
When something hasn’t gone to plan, I take things back to the beginning. I learn from what didn’t work, look at what I could do differently and try to find other ways to get the best result.
Currently the markets are volatile, very unstable and as a result of that they are not supporting us. We are present in nine countries globally and sit between consumers and the giants. In such a volatile market you have to be dynamic.
My favourite hobby is to ski. I try to get away to the mountains 2-3 times a year. I definitely prefer winter holidays a lot more than the summer holidays and would always choose the mountains over the beach!
Having worked closely with our CEO, Zoltan Petho, Ákos brings a unique blend of strategic insight and operational leadership to the conversation. After more than 17 years in management consulting with global firms such as Boston Consulting Group, Deloitte, EY-Parthenon and EY, Ákos recently transitioned into the world of digital banking to lead BinX Bank through its next phase of growth.
In this interview, Ákos reflects on building businesses from the ground up, the lessons learned over two decades in consulting, and why he believes the future belongs to specialists who can adapt quickly in an AI-driven world. Ákos is a self-confessed Formula 1 enthusiast and shares how a racer’s mindset - focused, competitive and driven - shapes his approach both in business and in life.
I’m Ákos Demeter, CEO and Board Member of BinX Bank in Hungary. I’ve spent more than 17 years in management consulting with Boston Consulting Group, Deloitte, EY Parthenon and EY before moving into neobanking nearly two years ago.
BinX is a relatively new digital bank with a setup comparable to Revolut. For most of my consulting career I have worked with large organisations. Towards the end however, I was looking for change and greater responsibility. Moving into banking gave me the opportunity not only to advise on strategy, but to take full responsibility for delivering it.
Launching the EY-Parthenon brand in Hungary stands out as a defining moment. I served as a Business Development Lead for many years. I think that building something from the ground up and seeing it succeed was a particularly proud moment.
Never look back, always look forwards.
It’s natural to reflect on what we could have done differently, but we can’t change the past. We can only learn from it. Progress comes from applying those lessons and focusing on what lies ahead.
I value sharp thinking and structured problem solving. I look for people who can grasp complexity quickly and get things right the first time. These were qualities that I’ve developed over the years in my consulting background so are highly desired when I am looking to hire new team members.
Equally important is mindset. I look for open-minded, positive individuals who approach challenges with constructive energy.
Artificial intelligence is fundamentally reshaping the landscape. In my view, it presents a greater threat to white-collar roles than blue-collar ones.
My advice is to stay close to change. Understand AI, experiment with it and look for ways it can enhance your performance but don’t rely on it solely. The global environment is unlikely to become more predictable in the near future, and we cannot forecast everything. Adaptability will be critical.
I believe the trend is clearly moving towards specialisation, particularly in white-collar roles.
When I began my career, generalists were highly valued but today, clients increasingly expect deep expertise. Being recognised as an expert in your field creates differentiation and long-term relevance.
Traditional banks are struggling because legacy systems often block innovation. Outdated infrastructure makes it difficult to move quickly and adapt to evolving technologies and customer expectations.
At the same time, challenger banks are gaining momentum rapidly. Their agility allows them to scale faster, which creates significant pressure for universal banks.
In Hungary, we operate in the B2B segment. With a population of around 10 million people and approximately 2.2 million customers banking with our main direct competitor, I see strong opportunity. The market is proven, and it’s one we intend to capture.
Outside of work, I am a passionate Formula 1 fan and would describe myself as a racer at heart. I enjoy go-karting and have played squash for more than 20 years.
For me, a racer’s mentality is not just about winning every time. It is about drive, focus and the constant desire to improve. Of course, I always want to win, but it is that competitive energy that fuels me rather than burns me out.
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