In 2019, a digital assets exchange was founded with the backing of top-tier venture capital firms. Armed with ambitious goals, it set out to establish itself as a major player in the cryptocurrency market. Yet, by 2023, the exchange was facing some serious challenges. Despite the capital and vision, the platform’s development was significantly delayed. The company’s proprietary trading platform remained under construction, limiting its ability to compete effectively against industry leaders.
Compounding the problem was a talent gap—the existing team simply didn’t have the expertise needed to meet the high standards of top global exchanges. The company’s leadership recognized that it needed a change, and fast. To gain the competitive edge it needed, the exchange identified a critical role that could be the turning point: a Chief Technology Officer (CTO) with deep expertise in crypto exchange development and the ability to transform the engineering team into one of top-tier caliber. But finding this rare blend of skills would not be easy.
The Hiring Challenge
The right CTO for this role was a tall order. Ideal candidates needed not only strong technical experience in building a crypto exchange from the ground up—also known as 0-1 experience—but also the leadership skills to drive innovation and the willingness to relocate to the UAE. This combination posed a unique challenge: CTOs with 0-1 experience are typically in comfortable positions, highly compensated, and rarely willing to leave for a startup environment. Additionally, many qualified candidates were former founders, often uninterested in becoming employees again.
Faced with this uphill battle, the digital assets exchange turned to Rockrose Executive Search, a specialist headhunting firm with a reputation for sourcing top executive talent in the technology and digital finance sectors. The company entrusted Rockrose with an exclusive mandate to secure a CTO with the technical expertise, leadership ability, and flexibility to relocate.
Search Strategy and Execution
Rockrose approached the challenge with a carefully crafted, multi-phase strategy that would maximize their chances of finding the right leader:
- Market MappingRockrose launched a global market mapping exercise to identify CTOs with experience building digital assets exchanges from scratch. After combing through potential candidates, the team compiled a list of 128 possible matches. This list represented individuals with diverse backgrounds, varying technical skills, and a range of industry experience.
- Candidate Screening and RefinementRockrose meticulously screened these candidates. Many of them, while impressive, lacked direct 0-1 experience, having only joined companies after the platforms were established. Others were former founders, with little interest in returning to a structured corporate role. This filtering process was intensive, and only 12% of the initial candidates remained viable. Rockrose moved forward by reaching out to this select group through LinkedIn, direct contacts, and its network of industry professionals.
- Outreach and EngagementRockrose recognized that attracting the right candidate required a compelling pitch. They crafted personalized communications that highlighted the role’s unique opportunities:
- Building a new exchange from the ground up with the backing of major venture capital.
- Transforming the existing team by recruiting top-caliber talent and driving innovation.
- Gaining exposure to the UAE’s growing fintech ecosystem, which offers significant long-term career growth.
This tailored approach successfully resonated with one candidate who possessed both the technical expertise and the leadership qualities needed for the role. Importantly, this individual was ready for a fresh challenge and open to relocating.
The Selected Candidate
In June 2024, the ideal CTO joined the digital assets exchange, bringing with them a wealth of experience:
- Technical Mastery: A strong background in building crypto platforms from scratch, with particular expertise in areas such as security, compliance, and scalability.
- Transformative Leadership: Proven success in recruiting top engineering talent and leading teams to achieve ambitious technical goals.
The CTO has since assembled a team of skilled software engineers, accelerating the development of the platform and positioning the company for future success.
Conclusion
This success story exemplifies Rockrose’s strategic, targeted approach to complex executive recruitment challenges. By leveraging an in-depth understanding of both the industry and the client’s specific needs, Rockrose successfully placed a transformational leader poised to drive significant progress.
For companies looking to hire strategic leaders capable of elevating their organization, reach out to Rockrose Executive Search to learn how we can help you build a world-class team.