Background
Following the Financial Services Act 2012, the Financial Services Authority (FSA) embarked on one of the most significant organisational restructures in its history. The organisation was to be divided into two separate regulatory bodies: the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
As part of that transformation, the FSA engaged Maxwell Stephens to recruit a Head of Property and Workplace to lead the workplace and estates programme supporting the relocation and integration of more than 1,100 employees.
This was far more than a conventional facilities management appointment. The person appointed would be responsible for delivering a strategic workplace transformation programme, overseeing large-scale employee relocations, managing stakeholder engagement across multiple business functions and maintaining operational continuity throughout a period of significant organisational change.
The Challenge
The brief called for a senior FM and workplace leader able to balance property strategy, workplace experience, cost control, change management and service delivery, while keeping employees satisfied and disruption to critical business operations to a minimum.
Several factors made the search demanding:
- Scale and phasing. The relocation of more than 1,100 employees would run across multiple phases, including a single move involving approximately 650 staff. Programmes of that size leave little room for error in sequencing, communication or service continuity.
- Two organisations, not one. Workplace operations had to be aligned with the future vision, culture and structure of the newly formed PRA and FCA, which meant the appointee would be designing for organisations that did not yet fully exist.
- A complex operational and regulatory setting. The programme had to run alongside day-to-day operations, with continuity of workplace services maintained throughout.
- Breadth of capability. The role required a rare combination of strategic property expertise, workplace leadership capability and operational FM experience. Candidates who are strong in one of those areas are common; those credible across all three are not.
Our Approach
Understanding the Brief
Maxwell Stephens worked closely with the FSA to build a detailed understanding of both the technical and leadership requirements of the role. The successful candidate would be expected to:
- Develop and deliver a comprehensive workplace transition strategy
- Lead the relocation of more than 1,100 employees across multiple phases
- Manage one of the largest single employee moves, involving approximately 650 staff
- Maintain continuity of workplace services throughout the programme
- Align workplace operations with the future vision, culture and structure of the newly formed organisations
- Deliver an employee-focused workplace experience during a period of significant change
- Maintain strong governance, budgetary control and stakeholder engagement
Executive Search and Market Mapping
Given the strategic importance of the appointment, Maxwell Stephens ran a targeted executive search across both the public and private sectors. The search focused on senior property, workplace and facilities management leaders with proven experience in:
- Large-scale workplace transformation programmes
- Corporate real estate and portfolio management
- Employee relocation and change management initiatives
- Strategic facilities management leadership
- Multi-stakeholder environments
- Complex operational and regulatory settings
Through extensive market mapping and direct engagement, we identified a shortlist of individuals with the capability to deliver against the FSA's objectives.
Assessment and Selection
Candidates were assessed against a defined set of competencies: strategic workplace and property leadership, facilities management expertise, programme and project delivery, stakeholder management, change leadership, commercial and financial acumen, and cultural alignment with the future PRA and FCA operating models.
The evaluation process combined detailed competency interviews, leadership assessments and analysis of each candidate's previous workplace transformation achievements. For an appointment of this kind, evidence of having delivered a comparable programme carries more weight than any other single factor.
Working in Partnership
Throughout the assignment, Maxwell Stephens worked closely with key stakeholders across the FSA. Regular progress reviews, market intelligence updates and candidate feedback sessions kept the client and the search aligned and supported informed decision-making at every stage.
The Outcome
The search resulted in the appointment of a Head of Property and Workplace with the expertise, leadership capability and strategic judgement required to support the organisation's transformation.
The appointed leader delivered the relocation of more than 1,100 employees while maintaining business continuity and workplace service standards throughout the programme. Key achievements included:
- Relocation of over 1,100 employees
- Largest individual move involving approximately 650 staff
- Relocation costs delivered at less than £100 per employee
- 98% employee move satisfaction rating
- Minimal disruption to operational performance and workplace services
- Alignment of workplace operations with the newly formed regulatory organisations
The appointment played a central role in supporting one of the UK's most significant public-sector organisational transformations, and demonstrated the value of securing experienced facilities management and workplace leadership during periods of major change.
Why This Placement Worked
Workplace transformation appointments are often scoped either as property projects or as FM roles, when in practice they are both, with a change-management brief on top. The FSA's brief recognised that from the outset, and the search was run against the full breadth of it: strategic property, workplace experience and operational delivery, assessed with equal weight.
Maxwell Stephens specialises in facilities management and workplace recruitment, from strategic transformation programmes to complex operational environments. If you are planning a relocation, restructure or estates programme and need a leader capable of carrying it through, get in touch with our team.