Kris Dunn at Fistful of Talent raises an interesting point: How far would you go for a $3 million annual retainer?
Dunn is referring to a recent Wall Street Journal article that tells the story of “a whale client delivered by being on the inside.”
The whale, in this case, is Regions Financial Corp. Executive-recruitment firm Fiderion Group allegedly entertained Regions executives on luxury golf vacations annually from 2002 to 2008, with former Fiderion employees shelling out more than $100,000 on Regions officials at the outings.
The sticky matter is that federal law prohibits bank employees from accepting anything “intended to influence business decisions,” yet the retained search firm has billed Regions — its biggest customer for high-level executive searches — close to $3 million annually.
Good work if you can get it? Or is this a firm that doesn’t know where to draw the line on delivering perks to keep clients happy?
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