The UK’s largest platform of non-exec directors has added private equity veteran Stuart Marcy to its advisory board.
North West-based serial entrepreneur Ian Wright launched Virtualnonexecs.com in 2019 and has established it as the leading SaaS platform for non-exec directors, chairs, and fractional board advisors.
Wright, CEO and founder of Virtualnonexecs, commented: “With over two decades of experience in the UK’s corporate finance and private equity sectors, Stuart Marcy’s appointment is a significant coup for Virtualnonexecs.
“His previous roles at Deloitte, Smith & Williamson, Menzies, and BKL have equipped him with unparalleled expertise, making him a perfect fit for Virtualnonexecs’ expanding operations.”
Virtualnonexecs, since its launch in 2019, has experienced substantial growth, now supporting over 18,000 members who provide advisory services to more than 35,000 boards globally.
Wright added: “Virtualnonexecs has consistently achieved triple or high double-digit growth each year. Stuart’s appointment marks a significant milestone for us. His experience in private equity will be instrumental as we continue to expand our services and client base.”
With projections forecasting a revenue growth from £1m to £2.4m in the next 12 months, Virtualnonexecs is also predicting profits in excess of £1.4m.
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The VNXD Operator Network, a key innovation by Virtualnonexecs, tackles the inefficiencies in traditional recruitment by providing a comprehensive suite of search services for a fixed annual fee.
Bolton-based equity investment company Pitalia Capital and Liverpool-based River Capital have recently joined the growing stable of investors using the platform as well as global entities like Octopus Ventures who have made recent appointments through it.
Wright said: “The benefits extend beyond direct clients; national advisory firms like Leonard Curtis are also leveraging the platform to enhance their client services.
“For years, the recruitment of non-executive directors and chairs has been dominated by traditional recruiters, often charging exorbitant fees, sometimes over £30,000 per appointment.
“This fee structure is unusually high, occasionally surpassing 100 per cent to 200 per cent of the appointee’s annual salary – a rate unheard of in other areas of board recruitment.
“Unlike other positions where discretion might be preferred, non-executive roles benefit from transparency.
“Candidates often seek to openly showcase their CVs, clearly stating their career aspirations and availability, making the hefty recruitment fees seem even more unjustified.”