4. Mission Statement
• Ensure that clients’ interests take priority; Bannerot is successful only if its
clients are successful
• Surpass clients’ expectations through quality, accuracy, urgency, and
objectivity
• Effectively deliver executive search consulting services as a collaborative
partnership with clients
• Demonstrate integrity in every action and interaction, and operate
according to the highest ethical standards set by executive search industry
Bannerot
Partners 10/31/2012 4
Executive Search Dallas | Singapore
5. Larry Mendez Managing Partner
• Search professional since 1995; founder of Bannerot Partners
• Global executive search firm experience: Heidrick & Struggles and
Korn/Ferry International
• CEO and executive-level searches in finance, legal, marketing,
technology, operations, human resources, development, and design &
construction
• Start-ups to large private and public companies in North America,
Europe, and Asia/Pacific
• Clients in consumer services, hospitality and related real-estate
development such as Accor, Rosewood Hotels & Resorts, Pillar Hotels &
Resorts, Goldman Sachs, Lone Star Funds (Lodgian), CSM Corporation,
Noble Investment, Omni Hotels and Resorts, Cerberus Capital
Mgmt/Blackacre Capital, and OTO Development.
• Twelve years financial leadership with Fortune 200 holding companies
• BBA in Marketing and a BS in Radio-TV-Film from the University of Texas;
MBA in International Management; Certified Public Accountant
Bannerot
Partners 10/31/2012 5
Executive Search Dallas | Singapore
7. Search Methodology
Each search: unique, non-linear, rigorous, disciplined, and proven
Factors affecting timeline estimates: agreement on appropriate search strategy; client
reputation in market; and recognizing and reacting to market factors, including trends in
compensation packages and general economic conditions; assume 90-day process
Bannerot
Partners 10/31/2012 7
Executive Search Dallas | Singapore
8. Case Studies
Case Study 1: President, Real Estate Developer, Hotel Owner/Operator
• Human capital issue: Independent owner/operator President resigns after 5 months on the job. Serious
leadership vacuum exists, operational and strategic direction for the company remains poorly defined.
• Business situation: The 25-year old company had grown into one of the most financially sound
independent owner/operators in the industry. Driven by financial and operational performance metrics,
the company’s portfolio of select service and extended stay properties was delivering good returns but
included assets in outlying geographies and aging brands. A long-term President of the company had
departed one year earlier. The company recruited a new President without external assistance, hiring a
recently retired senior executive from a significantly larger company. After 5 months, the new President
declined relocation to company HQ and tendered his resignation.
• Solution: Defined search strategy to include senior operations executives with deep knowledge of the
select service business. This person would need experience in both small/entrepreneurial settings and
large/sophisticated operating environments. P&L and corporate function leadership was critical. Contacted
eventual successful candidate within 10 days of the start of the search, offer accepted 4 months later.
Bannerot
Partners 10/31/2012 8
Executive Search Dallas | Singapore
9. Case Studies
Case Study 2: Top Hotel Brand Chief Marketing Officer
• Human capital issue: Chief Marketing Officer of a Global Economy Hotel Owner/Franchiser retires, seeks
successor with new vision to grow brand
• Business situation: Client, a leading $1B brand in U.S. economy-lodging sector, sought successor to
retiring CMO. Client had engaged a leading global, multi-line executive search firm, but after 45 days, firm
had produced no candidates and told client it needed 6 weeks more before presenting candidates. Client
terminated search and engaged Bannerot Partners to quickly find an executive to work with international
leadership, bring a fresh look to branding initiatives of an American icon, and position brand for new
market growth. Although client requested CPG experience (in addition to hotel industry experience),
client’s needs could be best met by someone with consumer services branding experience.
• Solution: Search strategy focused on competing hotel brands and travel/leisure and consumer services
sectors. Initial focus was on brands with at least $500 million in revenue. Identified heads of similar
economy and limited service hotel brands and sourcing through other leisure and consumer services
companies. Client requested “best three candidates.” Had six candidates; introduced three. Client declared
a “tie” between two. More interviews, then an assessment by an industrial psychologist, and client
selected successful candidate.
Bannerot
Partners 10/31/2012 9
Executive Search Dallas | Singapore
10. Case Studies
Case Study 3: Global Ultra-Luxury Hotel and Resort Mgmt. Company
• Human capital issue: Senior architecture and design exec resigning to pursue development opportunity
• Business situation: Prestigious management company in ultra-luxury sector needed design and
construction exec, a “keeper of the standards” for this 6-star client. (New CEO was reshaping and
rebranding portfolio.) Design and construction exec helped enforce the ultra-luxury brand standard in
existing portfolio and for new projects. Person must be persuasive with owners, conveying need to invest
in architecture and design capital to reinforce brand. Client believed “the industry recycles mediocre
talent” tasking Bannerot to look past traditional targets while recruiting for this role.
• Solution: Global search because only a few persons worldwide had both the technical experience and
category knowledge. Bannerot defined two search strategies to include limited peer group (seven
competitors) and architecture and design firms that served the ultra-luxury sector. Introduced three highly
qualified candidates in 60 days. Successful candidate was a highly regarded partner and practice leader
from a top architecture and design firm. His work for client was widely recognized in industry publications
and he was a frequent conference speaker around the world.
Bannerot
Partners 10/31/2012 10
Executive Search Dallas | Singapore
11. The Search Process
Accept search assignment only if confident success will result
Gather input and obtain input of clients, who are key members of
the search team and who are critical to shared success
Introduce three to five exceptionally qualified, highly interested,
and reasonably affordable candidates
Pursue objectivity in preparing assessment of each candidate's “fit”
Recommend weekly, scheduled updates with the hiring authority
so that transparency consistently prevails
Modify search update process to meet each client’s preferences
Bannerot
Partners 10/31/2012 11
12. Search Completion
FACT:
Regardless of the search firm size, only 1-2 people accomplish the client’s search. A large firm
touts significant infrastructure and internal resources that can be applied to search execution.
Large firms are collections of individual contributors; however, only 1-2 people allocate time and
energy to a search.
FICTION:
Only a large firm with significant resources can reach the right candidates. Bannerot has access to
all external databases, association membership lists, directories and public news sources that
global search firms rely on for their internal databases.
The larger the firm and greater degree of specialization in a specific function or industry, the
higher likelihood that the client’s candidate pool is restricted by contractual off-limits restrictions
and similar searches being conducted on behalf of client’s competitors.
Bannerot
Partners 10/31/2012 12
Executive Search Dallas | Singapore
13. Search Completion
FACT:
Compensation programs that large firms tout require search teams to execute 10-15 searches
simultaneously so as to reach annual billing targets, limiting their focus on a particular client’s
search.
Bannerot deliberately restricts number of searches conducted at any given time to ensure quality
standards are maintained throughout search.
FICTION:
A contingent recruiter does the same work as a retained search consultant and there’s no
financial risk.
Contingent recruiting and retained executive search are mutually exclusive business models. To
compare them to retail, they are as Wal-Mart and Neiman Marcus, respectively. A contingent
recruiter shops a “most place-able candidate” to many hiring authorities to maximize the
likelihood of sale; this is effective for “commodity” skill set hires, generally below $100k. A
retained executive search consultant “partners” with the client to seek out the most qualified,
affordable, and interested person for the role, which is necessary for leadership roles exceeding
$150k.
Bannerot
Partners 10/31/2012 13
Executive Search Dallas | Singapore
14. References
“Larry has provided first-class service to our company on many occasions. His deep knowledge of
the market and key individuals, his understanding of our culture and our company projects means
he's provided excellent candidates and has helped us recruit top performers at senior levels of our
organization.
I highly recommend Larry's services.”
Olivier Poirot, Chief Executive Officer, Accor North America
“Larry Mendez and I have worked on several employment searches through the years, including
my current one. I've always found him to be the consummate professional. He works very hard to
understand the client's need and has an expansive network which allows him to execute against
the strategy. I found Larry to be extremely responsive; taking calls at odd hours and promptly
returning messages and emails. Larry is ethical beyond reproach and understands how to gently
nudge the process forward and across the finish line. I would readily recommend him for future
recruiting assignments.
Bill Upshaw, President of Lodging and Residential at CSM
“I enjoyed working with Larry and would like to do so again. His search was thorough and he had
good insights.”
Dana Ciraldo, Chief Executive Officer, Lodgian
Bannerot
Partners 10/31/2012 14
Executive Search Dallas | Singapore
15. Next Steps
Bannerot Partners LLC
bannerotpartners.com
North America Offices Asia/Pacific Offices
Mr. Larry Mendez, Managing Partner Ms. Beatrice Chow-Yeoh
The Urban Towers Prudential Tower, Level 26
222 West Las Colinas Blvd. 30 Cecil Street, Prudential Tower
Suite 1650 Singapore 049712
Irving, Texas 75039
(469) 556-6495 (Mobile) 65-97980323 (Mobile)
(972) 401-4170 (Office)
Bannerot
Partners 10/31/2012 15
Executive Search Dallas | Singapore
