After two years of growth our team stabilized at about 11. As from our start in 2009, we record all relevant job openings and potential assignments. This has always been for internal analysis purposes. For the first time we will give you some insight into treasury labour market developments. Team Germany and Belgium will be the first in this, keep an eye on what they publish. What I can say is that we see a gradual growth in all our markets.

We do see a shift in the three most common sources of success in recruitment:

1. Active search by employers themselves, often by internal recruiters;
2. Hiring managers going into their warm networks sourcing their new employees;
3. Recruitment agencies.

The first source remains important, advertising used to be print or job board oriented, nowadays social media, both for advertising as well as direct approach becomes more prominent. We notice that recruitment colleagues with a generalist approach have it harder than niche players like we are.

In the interim market we read and hear a lot around regulatory and compliance topics. There is a lot of concern but reality is that nothing changed for those companies who need temporary support. Especially Ron had an excellent second half of the year and we do not see that market slowing down.

As to the seniority of the candidates we find a new position for, we see an increase in success at group treasurer level. Personally I think in 2024 a bit too much of my time went into our internal organisation. In 2025 I enjoyed working on assignments at senior level. What is nice this does not go at the expense of junior assignments, we find from second career step up to retirement and are able to mirror this into our team: junior consultants for junior candidates, senior for seniors. And what is not standard in our industry, our consultants stay with the most junior already almost 2 years in the team.

One market plan I am very happy with, how it evolves, is our focus on what we internally call “treasury providers”. When we started, we had a sole focus on corporate treasury. Increasingly our clients asked for candidates with an expertise in consultancy, with TMS providers and from banks. And we were able to deliver. Very organically, these providers started asking us for staff and that client group is growing. We now have two specialized recruiters for this market.

A further nice development, not scheduled, was an increase in DCM and other funding assignments. Next to cash, risk, IT and other sub task fields, we always found funding experts but now the revenue share of this group grew, especially in the German market. Often this career station is the last before rising to group treasurer level and the strategic impact of these job holders can be huge.

As to what you can expect from us, we will not drastically change our ways. We remain niche recruiters, knowing more about corporate treasury than others and in most cases know the candidate before we find his/her next job. Two aspects will be prominent: technology (AI) and events.

I will not try to cover all that will change due to technology in our organization. But you might have noticed that Monique and Bianca both left our team after being with us over 10 years. In both cases, their initiative. In both cases to choose a whole new path in their career: HR and care. We will miss them and wish them well. Monique did a lot of meeting planning. As some of you might already have noticed, we implemented automation, where you can plan directly into our agenda.

This is a new, convenient and efficient way. Bianca worked a lot on updating and coding of files, so consultants can make the best matches. It will not surprise you that AI can make coding partly redundant. We are very happy Yvonne started because Monique and Bianca did so much more and not all can be automated.

In times that LinkedIn, WhatsApp and other channels become more prominent and many live meetings are replaced by video meetings, we notice that real dialogues remain essential in building real relations. This is why we will continue to invest in events. You can expects us at Eurofinance, FinanzSymposium, ATEB, ATEL, DACT and other events. Especially with the people of treasuryXL we have some exciting plans and personally, I will continue to moderate webinars.

Of course I will not and cannot disclose all details of our operations and plans but I want to wrap up with an internal, shared ambition. As confirmed at a recent DACT event, treasurers have a chance to have an increased impact on the strategy and results of their organization. Often their plans are solid, the step to take is claiming a place at the table. This also applies to leadership of teams. Success of treasury relies on quality of team members and how they are managed. This of course implies that the owner of a treasury recruitment process is the hiring manager. Our ambition is to support all hiring manager in reaching next level leadership impact.

On behalf of Team Treasurer Search, looking forward to making 2026 a success with you.

Pieter

As a Human Resource Manager or Internal Recruiter, you’re tasked with filling a wide range of roles—and you excel at it. But when specialized treasury positions land on your desk, the game changes.

The Hidden Challenges of Treasury Recruitment

Treasury roles are niche, often part of small teams, and openings are rare. While you have a warm pool of candidates for high-volume roles, treasury demands precision.

Here’s the problem:

• Ambiguous job titles (“Cash Manager” vs. “Risk Management Specialist”?) confuse candidates and hiring teams.
• Passive candidates dominate the market, treasury professionals rarely apply to job ads.
• Time-consuming outreach requires multiple touchpoints over months (or years) to engage top talent.

But you don’t have time to tackle this alone.

How We Solve Your Treasury Hiring Headaches

Since 2009, we’ve exclusively focused on treasury recruitment, building a pre-vetted network of specialists up to the level of Group Treasurer. While generic recruiters miss the mark, we:

• Decode your needs: We clarify role requirements and translate treasury jargon into clear expectations.
• Engage passive talent: Through structured follow-ups and trust-building, not transactional pitches.
• Leverage exclusive access: We’re the only agency regularly attending treasury events, connecting face-to-face with in-demand professionals.

At Treasurer Search, while we are still expanding our presence in the German market, we’ve quickly built a strong network by engaging with both candidates and clients through events and ongoing communication. Our latest successful placement in Germany came through a long-standing connection – a candidate we’ve been in touch with for quite some time.

The role we filled was at the junior level, allowing us to connect with young, ambitious treasurers at the start of their careers. We’ve maintained relationships with many of them, building a steady pool of talent for future opportunities.

Identifying the right candidate required a proactive approach, as many professionals were content in their current roles and not actively seeking a change. However, by staying engaged and personalizing our search, we were able to find the right match. One notable trend we’ve observed is that junior candidates today have evolving salary expectations, prompting companies to adapt their offers to attract top talent.

The candidate we placed was looking for new challenges and greater career growth, which highlights an important point: companies that invest in professional development can strengthen employee retention in the long run.

This brings us to an interesting question: What matters more to you – financial reward or career development?

We wish our candidates all the best in their new role and look forward to continuing to expand our network of talented treasurers.

If we’ve helped you find your new job or next team member, please feel free to fill out our survey or leave a review.

Our client is a company we have worked with for over a decade. We supported the growth of their treasury team from 2 team members to currently over 10. Three of our consultants have warm relations with multiple contact persons and there is constant communication between our teams. When asked what is important in our cooperation our client mentions the warm relation, the quality of the candidates we present and our eagerness to succeed, measurable in the speed of our processes.

The matches of the month for this client are both interim projects. On the operational side in trade finance, we were able to find a candidate who, although he is overqualified, can and wants to help in achieving the next level in processes and systems. The assignment includes data entry as well as strategy.

The other is the group treasurer position that opened up while the jobholder moves to a CFO role. The interim candidate will defend the fortress as the CFO of our client is thinking about the priority list and direction of the treasury team. He has a long and solid track record at director level and can lead and support sub teams in operations, trade finance, investments and (project) finance.

Can I help you too in finding a perfect match? Feel free to get in touch.

The match of this month is one that did not materialize.

Clients with whom we have an inclusive agreement, get our services including a guarantee. This means, if the candidate leaves within 6 months, we find a new one at no cost.

Our client is looking for a right-hand person for a group treasurer. Together they will bring treasury to the next level, including a TMS implementation. This is a very appealing position for a medior level treasurer looking for more responsibility.

The labour market for junior and medior treasurers is very tight but we were able to present multiple candidates. Our client reached an agreement with a young talent who did not want to work in cryptocurrencies anymore because he considered the industry unreliable. Briefly, before he should have started, the placed candidate informed our client that his current employer offered him a higher salary and he changed his mind and wants to stay…..

This of course is a highly undesirable situation for our clients. And us. Luckily we agreed upon a guarantee beforehand and the leading consultant was able to present multiple candidates quickly. Meetings are scheduled and things are looking good. Hopefully, we can say soon that the solution has been found with a candidate who is even better than the original.

Can I help you too in finding a perfect match? Feel free to get in touch.

Continuing our interview series, we’re excited to introduce Alana Imron! With a strong focus on the German market, Alana shares her journey into treasury recruitment, how her role has evolved over time, and what motivates her passion for connecting talent with the right opportunities. Let’s dive in and get to know Alana!

How did you decide to join Treasurer Search?

I decided to join Treasurer Search because the company’s open, supportive and diverse team really stood out to me. I value a personal approach, and recruitment allows me to connect with people on a meaningful level. It felt like the perfect opportunity to take on a new challenge, contribute my experience working with people across different sectors, and support our expansion into the German market with my background.

What is your expertise within the Treasurer Search team?

I am mainly responsible for ensuring that our recruitment processes run smoothly and effectively, focusing on quality and making sure both candidates and clients are happy at every step. I also specialize in the German market, where we’ve built a strong network.

With my German background, I manage relationships with clients and candidates in that region, ensuring we meet their specific needs.

Can you tell us more about your role and how it has evolved since you joined?

When I joined Treasurer Search in 2023, I began as a Search and Project Coordinator, focusing on organizing appointments, managing data, and ensuring the quality of our processes. Now, as a Recruitment Consultant, I help candidates find the right jobs and engage with clients to build long-term relationships, with a special focus on the German market. It’s been exciting to see my role evolve, and I truly enjoy contributing to the growth of the treasury community in Germany, while also maintaining a high standard of quality management.

What attracted you to a career in treasury recruitment, and what do you find most exciting about this field?

I love working with people, and treasury recruitment gives me the chance to make a difference in someone’s career. I enjoy helping candidates take their next step while also assisting clients in finding the best professionals for their needs. What I find most exciting is the long-term relationships we build—it’s about more than just filling a position; it’s about supporting people throughout their career journey.

Plus, every job is different, and every client has unique needs, which keeps the work interesting and challenging. I enjoy the variety and the opportunity to learn and grow while finding the best fit for both candidates and clients.

Can you explain your approach to networking and relationship-building within the treasury community?

At Treasurer Search, we focus on building long-term relationships. From the start, we make it clear to clients and candidates that we are here to support them in the long run, not just for one project. This helps us create trust and ensures they feel comfortable coming back to us whenever they need help.

In your experience, what skills have proven to be most essential for someone in your role?

Good communication is very important, especially when contacting clients or candidates for the first time. Being honest and clear helps to build trust. Staying organized and proactive is also essential so that candidates and clients always feel supported. But also understanding the treasury market is key to having meaningful conversations and offering the right solutions.

If there is one quote you would give others as advice, what would it be?

“Focus on progress, not perfection, and success will follow.”

On a regular basis, we get the question of how we land our new assignments. Of course, there is not one source, it is social media marketing, events, and direct acquisition, and also the newsletter is one of the sources. What we can say is that the majority comes from our “warm network“. Also in the market which we entered only a short time ago: Germany.

About a year ago, we landed a new group treasurer assignment when a candidate we were in contact with about a role in Dubai, referred us to his CFO when he left. This of course only works when we do a proper job and find good successors. Our latest placement in Germany is a capital markets executive.

This assignment came through us after we invited the previous job holder to the FinanzSymposium in Mannheim. When he decided to take his next step, we were asked to find his successor. He mentioned our name and we gladly stepped in. And now we can celebrate successfully closing this role with a candidate we met before. For another position in Dubai…..

Can I help you too in finding a perfect match? Feel free to get in touch.

We continue our interview series and presenting Haia. She is one of our skilled recruitment consultants with a strong focus on consultancy roles. In this interview, she shares her journey since moving to the Netherlands, the challenges she had to overcome and what excites her about treasury recruitment. Let’s get to know Haia!

Can you tell us about yourself, your background, and your experiences?

I have a bachelor’s degree in sociology and a technical diploma in management. I grew up and studied in Syria, where I started my career in recruitment in 2016. I completed an internship with the United Nations, and then worked at a medical centre in the recruitment department for a year, before relocating to Dubai. Worked there for 3 years at a corporate. I  was a corporate recruiter and then after 2 years I was promoted to recruitment manager During that time, I built the recruitment department, implemented an ATS, and hired a team.

In 2021, I relocated to the Netherlands. Before leaving Dubai, I trained my replacement while job hunting in the Netherlands. I moved to Venlo, and since it’s not a very international city, finding a job without speaking Dutch wasn’t easy. Luckily, Pieter gave me the chance to take on a new challenge, and because most people in treasury speak English, not knowing Dutch wasn’t a problem. I started as a recruitment consultant in February 2022, and it’s been going great so far.

How did you adapt to the transition from Syria to the Netherlands, both in your professional career and personal life?

On a personal level, the cultural differences were significant. The way people communicate and interact is very different, and the directness of Dutch society took some getting used to. However, it wasn’t impossible to adapt once I accepted that this is where I am, and I needed to adjust to be comfortable here. Thankfully, I was able to integrate fairly quickly.

When I started at Treasurer Search, everyone was Dutch, and I was the only foreigner. My colleagues played a big role in helping me integrate and adapt to the culture and society. Professionally, the transition was also challenging. The way you communicate and address people, especially seniors, is different in the Netherlands compared to the Middle East. It took some time to adjust, but overall, I’ve adapted well and I am happy.

What attracted you to a career in treasury recruitment, and what do you find most exciting about this field?

From the start of my recruitment career, from my first internship, then working in a medical center followed by a corporate in Dubai, I’ve always been drawn to roles that are more challenging to fill. Whether it was hiring business analysts, developers, data scientists, or doctors, I enjoyed the challenge of finding the right talent for those specialized areas. Treasury recruitment is similar in that it’s not a field where you get hundreds of applicants. You have to do your research, connect with people, and really understand the industry. I find the mix of recruitment, treasury, and technology fascinating, and I embraced the challenge.

What is your specialty within the Treasurer Search team?

I primarily focus on recruiting juniors and mediors, as well as consultants. I work with consultancy partners and fintech companies because I find that mix of roles especially interesting.

Can you explain your approach to networking and relationship-building within the treasury community?

With my background in sociology, I’ve always had an interest in personal and human connections. In recruitment, it’s not just about work—it’s about the people behind the CVs. Whatever happens at work affects your personal life, so the human aspect is very important. I always try to go beyond the standard interview by adding a personal touch, helping to build a connection and openness with the candidates as well as the clients. When people feel comfortable and connected, it leads to better communication, which is important when trying to find the right fit for both candidates and clients.

What advice would you give to candidates looking to advance their careers in treasury?

My advice to candidates is to continuously expand your technical knowledge and master the fundamentals of treasury. It’s also key to stay up to date with industry trends, especially in terms of new software and systems. If you haven’t worked with a treasury management system (TMS) yet, it’s worth investing time to familiarize yourself.

Professional certifications such as the ACT, CTP, or CFA can also significantly boost your career prospects. Continuous learning is key—never stop expanding your knowledge. And of course, focus on developing a strategic mindset, which is what differentiates treasury analysts from managers or directors.

What advice would you give to clients who are considering working with a recruitment agency?

It’s important for clients to work with recruiters who truly understand the field they’re hiring for. Treasury is a niche within a niche, and recruitment in this area requires specialized knowledge. That’s where agencies like Treasurer Search come in. Rather than receiving hundreds of generic CVs, clients get candidates that are on point and tailored to their needs.

If there is one quote you would give others as advice, what would it be?

“Growth begins at the edge of your comfort zone”

The match of this month underlines that labour market contracts come in many shapes and forms and there is a whole spectrum between being permanently employed and hiring a consultant from large firms.

Our client works on a complex TMS implementation where a new module is in the alpha (towards beta) version. They do not want to rely 100% on their vendor and are looking for a candidate who will manage the project and relations on their behalf. Quality, cost, and speed are all important aspects.

Next to the specialized treasury consultancy firm they considered, we were able to present candidates with a track record in TMS implementations, as well as a former senior consultant of a Big4. Our client chose the last as he can balance all important aspects and from the first meeting showed he can manage the process.

Can I help you too in finding a perfect match? Feel free to get in touch.