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Rating:Web Site Facilitates Hirings Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, November 22, 2000

Web Site Facilitates Hirings

Reported by Tamiko Toland

InvestmentPositions.com has updated its Web site in its effort to reach employers and candidates in the financial services industry. Since 1998, the firm, with offices in London and New York, has been offering its web-based service to seekers on both side of the negotiation table.

"We don't see ourselves as recruiters but as facilitators," said Tarik Sansal, InvestmentPositions.com founder and CEO.

Unlike traditional executive recruiters, the firm charges a commission of only 3.5 percent of the base salary for clients willing to search the database on their own. Even assisted searches cost 17.5 percent, excluding bonuses. Registering and access start at $1000 per month. Traditional searches typically cost in the area of 1/3 of base salary, plus bonuses.

Value, however, is not the only benefit to InvestmentPositions.com, according to Sansal. With a proprietary database system, he can turn around screened applicants in no more than five days.

"The ability to move fast is critical in the investment industry," said Sansal.

InvestmentPositions.com also develops "soft mergers and aquisitions," where groups of people are hired away from a company.

"We can enable institutions to hire not only one person, but construct a team," said Sansal. "Even if they end up paying more for a team in terms of a package, the risk is much lower because they have a history of working together."

The firm, already profitable, is funded solely by venture capital from Planet Zanett. Claiming clients such as AIG, Barclays Global, Merrill Lynch, Goldman Sachs, and others, Sansal sees the potential for expansion in the market. He hinted that, even in the high-end executive area, companies are bringing their business to him from traditional competitors.

In fact, Sansal is so confident of the business model that he will soon be applying it to the technical arena with TechnicalPositions.com.  

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