How to Hire a Global Head of Treasury for top regional banks in MENA

Have you ever considered how one person could steer an entire bank’s financial stability, risk management, and liquidity strategy? That’s exactly what a Global Head of Treasury does—and in the Middle East and North Africa (MENA) region, this role is more pivotal than ever.

Banks in MENA are navigating a unique confluence of rapid economic development, regulatory shifts, and global financial integration. This makes finding the right person for the role a monumental task. What qualities define a stellar candidate for this position? And how can banks in MENA successfully recruit for this critical role?

Let’s dive into what makes the Global Head of Treasury such a vital position, the myths surrounding recruitment for this role, and the truths that banks need to embrace to hire the best candidate.

Myth vs. reality: Debunking misconceptions about hiring for this role

Myth 1: Technical expertise is enough.

It’s a common belief that as long as a candidate has the technical know-how—like managing liquidity, optimising funding, and navigating capital allocation—they’re the right fit. After all, the treasury function is rooted in technical precision, right?

Reality: While technical expertise is foundational, it’s not enough. The Global Head of Treasury must be a strategic leader who can align financial operations with the bank’s broader objectives. In the MENA region, this means understanding the nuances of local economies, such as navigating Sharia-compliant banking systems or leveraging opportunities in emerging markets like Saudi Arabia and the UAE.

Take, for example, HSBC’s regional success. Leaders like Sunil Veetil have highlighted the importance of pairing financial acumen with strategic foresight to capitalise on MENA’s growth potential. The ability to anticipate economic shifts and translate them into actionable strategies is a defining trait of great treasury leaders.

Myth 2: Compensation alone attracts top talent.

The MENA region is known for offering attractive remuneration packages to banking professionals. It’s easy to assume that a high salary—ranging from $450,000 to $500,000 annually—will automatically draw in the best candidates.

Reality: Remuneration is only part of the equation. Top candidates look for a role that aligns with their personal and professional aspirations. They want to know how the position fits into a broader vision for the bank and how they can make a lasting impact. Offering a comprehensive package that includes performance bonuses, stock options, and relocation support is essential, but presenting a clear career trajectory is what truly seals the deal.

For instance, Citi’s recent appointment of a global treasury leader emphasised not just the role’s financial benefits but also the opportunity to spearhead transformative projects in cash and liquidity management. Highlighting how a candidate can leave their mark on the organisation makes a compelling case.

Recruitment strategies that work: From sourcing to onboarding

Identifying potential candidates

The search for a Global Head of Treasury should go beyond conventional hiring methods. Leveraging executive search firms, tapping into professional networks like LinkedIn, and attending industry conferences are key strategies. Identifying professionals with a proven track record in MENA markets is crucial. Leaders like Shahmir Khaliq at Citi have shown how deep regional expertise can drive treasury functions to new heights.

Assessment and selection

A rigorous selection process should include:

True-to-life examples can help you gauge a candidate’s potential. For instance, ask how they’ve previously handled risk management in a volatile market like Egypt or Tunisia. Their response will reveal their capability to operate under pressure.

Onboarding and integration

The first 90 days are critical for a new hire. A structured onboarding programme should:

Introduce them to key stakeholders within the bank.

Provide a comprehensive overview of the bank’s operations and strategic goals.

Set clear performance expectations to align their efforts with the bank’s long-term objectives.

Conclusion

The role of a Global Head of Treasury in MENA goes beyond numbers and spreadsheets—it’s about vision, strategy, and leadership. Debunking myths about this position can help regional banks rethink their recruitment strategies and secure the talent needed to thrive in a competitive landscape.

So, what’s the next step for your organisation? Can you redefine your hiring process to attract leaders who not only excel in treasury functions but also understand MENA’s unique financial challenges? And, most importantly, how will your choice of treasury leader shape your bank’s future?

About

Warner Scott is a premier global executive recruitment specialist based in London and Dubai, focusing on Banking & Investments, Accounting & Finance, and Digital & Fintech. With over 18 years of experience, they have built strong relationships with top-tier banks, financial institutions, and accountancies. Their unique value lies in these long-standing relationships with hiring managers and internal recruiters, a vast network of candidates, and continuous engagement. This combination places them uniquely in the market, trusted by both talent and hiring managers. Their evolved perspective allows them to precisely understand recruitment needs and pinpoint senior C-suite, EVP, SVP, and MD-level hidden, ready-to-move talent that other recruiters cannot access.

Warners Scott delivers tailor-made recruitment solutions for international and regional clients, functioning as true business partners. Their comprehensive services cover retained, exclusive, and contingency searches, as well as permanent, contract, and interim staffing.

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