Securing the Head of Cards Modernisation for One of New Zealand’s Big Four Banks

The Challenge

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One of New Zealand’s big four banks is moving to the cloud in 2027. The cards modernisation programme is the bank’s number one priority throughout that year.

The Head of Cards Modernisation leads the transformation team responsible for ensuring that all new card issuing, payments and associated technology works on go-live day. The role sits at the centre of a delivery environment of around 250 people across the bank, its Australian parent and multiple delivery partners, with executive stakeholders on both sides of the Tasman.

The bank had made two unsuccessful attempts to fill the role through its internal recruitment team before engaging Cultivate Executive Search. Programme sensitivities, and the reputational risk of a third public campaign, meant the role could not be advertised.

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The Search

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The assignment required a fully confidential, research-led approach.

Cultivate began by building a Success Profile with the hiring manager, defining the skills and experience, leadership behaviours, and motivations and career fit needed to succeed. Critical behaviours included staying calm under pressure as go-live approaches and the ability to influence executives across two organisations.

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We then mapped the market across New Zealand and Australia. The map covered six target role titles, from Head of Cards and Head of Payments to General Manager Transformation and Programme Director, across more than 21 organisations in four talent segments:

• Major banks

• Payments infrastructure providers

• Payments and fintech companies

• Global card networks

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Candidates were assessed against the Success Profile and grouped into three tiers:

• Tier 1: direct alignment with the Success Profile

• Tier 2: strong alignment, but missing one or more critical components

• Tier 3: adjacent, transferable talent

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Throughout the search, discreet market-intelligence conversations tested candidate appetite and remuneration expectations before any formal approach was made.

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What the Market Told Us

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The market map showed that the talent pool was materially smaller than title searches suggested. The strongest candidates were transformation leaders with payments experience, rather than payments specialists with limited transformation exposure. Executive stakeholder capability proved a stronger predictor of success than cards expertise alone.

On that evidence, Cultivate advised the bank to prioritise transformation leadership capability over narrow domain expertise. We also identified New Zealanders working in senior roles in Sydney and Melbourne as the most compelling relocation pathway.

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The Outcome

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The role was placed at the first time of asking, with a senior executive from a leading bank in Melbourne.

After two unsuccessful internal attempts, the bank secured a leader with the transformation experience and cross-Tasman stakeholder capability needed to take its number one programme through to go-live.

By combining our Success Profile methodology with rigorous market mapping and confidential engagement, Cultivate Executive Search turned a hard-to-fill role that could not be advertised into a first-time placement.

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Results at a Glance

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• Placed at the first time of asking, after two unsuccessful internal attempts

• Fully confidential search; role not advertised

• 21+ organisations mapped across New Zealand and Australia

• Six target role titles across four talent segments

• Programme of around 250 people across the bank, its Australian parent and delivery partners

• Senior executive appointed from a leading Melbourne bank

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