To conduct competitor and market analysis focused on the government affairs and legal counsel functions within international investment banks operating in Russia, on behalf of a global investment bank. The competitor analysis would assist the bank in formulating effective succession planning and hiring strategies for these key functions.
The timing of this assignment coincided with a rapidly changing market environment and economic instability in Russia as a result of international sanctions. Consequently, a large number of our client’s traditional competitors were in the process of retrenching or exiting the Russian market. Understanding the market environment and talent landscape was therefore particularly challenging when both were in a state of significant flux.
In order to fully grasp the complexities of the changing market environment, we adopted an ordered and thorough search approach. Mapping out the government affairs and legal departments not only of the key international investment banks but also the major multi-national corporations and international law firms in Russia allowed us to comprehensively identify and assess the relevant senior professionals operating in these functions across a broad section of the market. This breadth and depth of analysis enabled us to effectively benchmark our client’s existing team set-up and incumbents against their peers, and to provide our client with advice based on an up-to-date and precise understanding of how economic sanctions were impacting other international businesses in Russia.