NED Recruitment

NED Recruitment

NED Capital recruits non-executive directors for UK boards. This page describes how we work — our methodology, our candidate network, our screening process and what a NED Capital shortlist looks like. If you are deciding whether to use NED Capital for a board search, or comparing our approach to other NED recruiters, this is the right page. If you are earlier in the process and want to understand how NED recruitment works generally — including brief construction, appointment types and governance code requirements — see our Non-Executive Director Recruitment page.

Adrian Lawrence FCA, founder of NED Capital and Fellow of the ICAEW, leads every NED search mandate personally. There are no junior consultants running searches independently. Every candidate NED Capital presents has been interviewed by Adrian before the shortlist is prepared.

Call 0203 137 2496 or email recruitment@nedcapital.co.uk.

Our NED Recruitment Methodology

NED Capital operates exclusively in the board-level market. We do not place executive directors, senior managers or interim finance leaders — those are separate services handled by our sister firms FD Capital and Exec Capital. Our entire practice is board-level: non-executive directors, chairs, trustees and advisory board members. This focus produces a depth of NED-specific network, assessment expertise and governance code knowledge that generalist executive search firms cannot replicate through a secondary NED practice.

Every NED Capital search is conducted on a retained, research-led basis. We do not use job board advertising as a primary sourcing channel for board-level appointments. The most experienced non-executive directors — those whose board-level expertise makes them most valuable to a client board — are not responding to job advertisements. They are already serving on boards and considering new mandates selectively. Reaching them requires a direct professional approach built on a genuine network and the credibility to make that approach effectively.

The retained model matters because it aligns incentives correctly. A contingency-only recruiter is paid only if an appointment is made and has a financial incentive to present candidates quickly rather than search the market thoroughly. NED Capital’s retained model means the research phase is funded regardless of outcome — we can take the time to identify the right candidates rather than the available ones.

How We Build the Candidate Longlist

Our candidate identification draws on four sources, weighted differently depending on the specific brief.

Active NED network. NED Capital maintains direct professional relationships with current and recently active non-executive directors across listed companies, PE-backed businesses, charities, housing associations and regulated financial services firms. These are individuals Adrian knows personally — whose board experience, governance approach and selective availability he can assess before making an approach. For many mandates, particularly those requiring specific sector or PE experience, the right candidate comes from within this active network.

Targeted market research. Where the specific candidate required is not within our immediate network, we conduct structured research into the relevant governance environment — identifying who currently serves on boards in the target sector, who has recently completed an executive career in the relevant market and who has the independence profile and time availability the brief requires. This research is specific to the brief, not a keyword search of a general database.

Referral sourcing. Board-level networks are tight and professionally connected. An NED who has been through a NED Capital process frequently knows other experienced directors who are selectively available for the right opportunity. We use referral intelligence — with appropriate consent — as a supplementary sourcing channel, particularly for specialist mandates where the eligible candidate pool is narrow.

Direct market approach. For mandates requiring very specific experience — a PE NED with direct technology sector board experience, an FCA-regulated INED with SMF13 audit committee chair credentials — we conduct direct market research and approach individuals who have not previously been in our network but whom the research identifies as plausibly the right candidate. This direct approach methodology is described in more detail on our NED headhunters page.

Our Candidate Screening Process

Every candidate on a NED Capital shortlist has been through the following screening process before being presented to the client.

Preliminary assessment. Before approaching a candidate, we assess them against the brief at a preliminary level — does their board experience match the requirements, does their sector background align, are there obvious independence issues, is the time commitment plausible given their current commitments? Candidates who fail this preliminary assessment are not approached.

Expression of interest and initial discussion. We approach target candidates directly and confidentially, explain the nature of the opportunity without initially disclosing the client’s identity and assess their genuine interest and availability. Candidates who are not genuinely interested in the specific mandate are not carried forward regardless of their qualifications.

Structured assessment interview. Every candidate who expresses genuine interest is interviewed by Adrian Lawrence FCA against the agreed brief. The assessment covers: board experience depth and relevance; governance code independence status; current and prior directorships for conflicts assessment; time availability against the estimated commitment; committee capability where specific committee responsibilities are required; cultural and stylistic fit with the existing board; and motivation for the specific mandate.

Independence assessment. For listed company mandates, FCA-regulated firm mandates and any appointment where independence is a governance code requirement, we conduct a formal independence assessment against the applicable criteria — FRC Code, QCA Code or FCA SMCR — before shortlisting. We do not present candidates as independent without verifying that assessment.

Conflicts check. We conduct an initial conflicts review on every candidate — covering existing directorships, business relationships with the client and any prior advisory or consulting relationships — before shortlisting. This is not a comprehensive legal conflicts opinion but it identifies the most common issues before client time is invested in interviewing a candidate whose conflicts would subsequently prevent appointment.

What the NED Capital Shortlist Looks Like

We present a shortlist of three to five candidates. Each candidate profile in the shortlist includes:

Board experience summary. Current and prior board mandates with specific detail on committee responsibilities, governance code environment and any particularly relevant governance situations navigated during that mandate.

Skills match assessment. Our assessment of how the candidate’s experience aligns with the specific brief — not a generic statement of NED value but a specific analysis of how this candidate addresses the skills gap identified in the board composition mapping we conducted at brief stage.

Independence assessment. Our formal assessment of independence status against the applicable governance framework, including any circumstances that require disclosure or further consideration.

Our recommendation. A clear priority order with the rationale for our assessment of each candidate’s fit, and our view of which candidate presents the best match for the specific brief and governance context.

Shortlists for standard NED mandates are typically delivered within two to three weeks of mandate acceptance. Chair searches take four to six weeks. Specialist mandates — FCA SMCR roles, PE NED searches with very specific sector requirements, healthcare governance appointments — vary by the depth of the specific candidate pool.

Our Guarantee

NED Capital provides a free replacement guarantee on every permanent NED placement within the first twelve months of appointment. If the appointed NED leaves the role within twelve months for reasons other than company insolvency or a fundamental change in the role’s scope, we conduct a replacement search at no additional fee to the client.

This guarantee is only viable because our assessment process gives us genuine confidence in the candidates we present. A contingency recruiter who presents available candidates cannot credibly offer the same guarantee. We advise any client evaluating NED search firms to ask specifically about the replacement guarantee — the answer reveals a great deal about how the firm approaches candidate assessment.

Sectors and Specialisms

NED Capital recruits across all major UK sectors and board types. Our most active search areas include technology and SaaS, financial services and fintech, healthcare and life sciences, professional services, manufacturing, PE-backed businesses across all sectors, AIM-listed companies, charities and housing associations. For sector-specific NED search information, including how we approach healthcare NED searches — consistently one of the most specialist areas of our practice — see our sector pages. For PE-specific NED recruitment, see our Private Equity NED Recruitment page.

NED Recruitment Fees

Our search fee is a percentage of the agreed annual NED fee for the appointment, structured as a retained element on mandate acceptance and a completion element on appointment. We provide a fixed fee proposal before mandate commencement. There are no variable charges, no candidate database fees and no hidden costs.

Current UK market NED fee benchmarks by organisation type: private companies £10,000–£35,000 per annum; PE-backed businesses £25,000–£60,000; AIM-listed companies £35,000–£85,000 depending on committee responsibilities. Our search fee is a percentage of the agreed fee within these ranges and is disclosed in full in the engagement letter before we begin work.