GTCR eyes millennials, ramps up talent development

  • Firm names Rich Iorio as its first chief talent officer
  • Jeff Browning tapped as principal of Leaders Strategy Recruiting
  • GTCR continues to recruit up to eight people a year

Dear hipsters, GTCR wants you.

The firm hired its first chief talent officer to help recruit millennials for up to eight associate-level openings a year, according to a key executive at the firm.

GTCR grows most of its senior talent in-house, but it is also looking to grow its ranks by hiring several junior candidates a year with some work experience and undergraduate degrees.

Craig Bondy, managing director, said the Chicago firm offers prospective employees “an opportunity to join an enduring partnership that rewards entrepreneurialism and provides for significant responsibility early on in a private equity career.”

To assist with recruiting younger talent and related efforts, GTCR this year named Rich Iorio as chief talent officer and managing director. Previously, Iorio was a managing director at the Chicago office of professional services firm Towers Watson and an officer at the University of Chicago.

Iorio will fill a “big role” at the firm to focus on recruiting, talent development, performance evaluations and working with portfolio company CEOs, Bondy said.

The firm also named Jeff Browning as its Leaders Strategy Recruiting principal, a new position. He previously worked for 15 years as the recruiting partner for venture firm Austin Ventures. Browning focuses on generating relationships with management teams and CEOs.

Historically, private partnerships at firms were small and did not need to focus as much on talent and talent management, Bondy said.

“We’re spending more time recruiting the right type of people and studying how we develop them,” Bondy said. “One of the primary ways to differentiate GTCR is to make sure we’re hiring highly talented people in the organization, developing them, and creating opportunities for them to grow.”

Nowadays, smart undergrads may see more attractive options outside of finance, as part of a cultural shift away from large, well-established institutions in favor of nimble, high-energy startups, Bondy said.

“Maybe [they’re looking at] a neat digital advertising firm in NYC or at the latest and greatest tech company in Silicon Valley or in places like Austin, Texas,” he said. “For us, that means we need to open up where we recruit from and be more flexible or more open to candidates with different profiles.”

David Toll contributed to this report.

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Photo of Craig Bondy courtesy of GTCR