A wave of IPOs is expected this summer, and companies are looking for investor relations and legal personnel to help prepare for their public debuts.
Over the past year, companies seeking IPOs have made key hires for pros to help navigate financial filings, Securities and Exchange Commission reporting, and other processes that come with the heightened scrutiny of being a publicly traded firm. And the demand for these experts is still high, with many companies looking to fill open roles.
In a bid to attract top talent, companies are sweetening the deal for investor relations hires with increased pay and large equity packages that can clock in at seven figures, Richard Marshall, global managing director for corporate affairs and investor relations at the recruiting firm Korn Ferry, said in an email to Insider.
Seasoned in-house lawyers are also in high demand. The number of clients seeking general counsel has surged 37% in the past year, said Monique Burt Williams, CEO of Cadence Counsel, which specializes in in-house legal recruiting.
"This year has created an atmosphere for more of a propensity to take risk, and people are maximizing on potential for growth. Everybody knows we’re on the brink of something," said Williams.
From lifestyle brands to fintechs, here are some of the companies that are looking to fill investor-relations and legal roles:
- Health insurance startup Bright Health, with is backed by hedge fund Tiger Global and made its trading debut on June 24, is making multiple hires across its investor-relations and legal teams, according to job openings posted in late May and early June. Open positions include an investor relations director and vice presidents, as well as a senior corporate counsel role with responsibilities including supporting "public company securities work."
- Buzzfeed, which said in late June it’s going public via a SPAC deal that could close by the end of the year, is seeking an in-house counsel to manage "regulatory filings, approvals, and compliance," as well as other corporate and commercial transactions.
- Doximity, the 10-year-old digital health company that filed an S-1 earlier this month, is looking for an SEC reporting manager. The newly-created role will report to the senior director of technical accounting and reporting, and the ideal applicant is someone with knowledge of US generally accepted accounting principles and public-accounting experience, the posting said.
- Virtual-card issuer Marqueta, which went public in early June, is hiring an investor-relations manager.
- Social Finance, the online personal-finance company that goes by SoFi, became a publicly-traded company on June 1 after a SPAC merger. It is currently hiring compliance specialists to help respond to regulatory inquiries about its investing business from the SEC, the Financial Industry Regulatory Authority, and other regulators. It is also hiring investor relations associates and senior associates.
- Sprinklr, the customer-experience software company that started trading on June 23, is hiring a senior counsel to its legal department ot support corporate, security, and governance matters. The role will also have a "potential focus on SEC and public company matters," the listing said.
- Trendy eyewear brand Warby Parker, which confidentially filed for its IPO on June 22, is hiring an assistant general counsel "armed with extensive knowledge of corporate and securities law for public companies, especially when it comes to SEC and stock exchange compliance."
- Robinhood, the trading app that confidentially filed to go public in March, is looking to boost its legal team. The company is hiring an attorney to handle "regulatory submissions and filings and reporting on regulatory requirements internally and in public filings;" a commercial senior counsel; and privacy senior counsel.
- Shoemaker Allbirds, which has tapped Morgan Stanley to work on an IPO according to a June 27 Bloomberg report, is hiring an SEC reporting and technical-accounting manager and a senior stock administrator.
- Softbank-backed freight logistics company Flexport has not filed for an IPO, but it could be considering the option more seriously now and is searching for a head of investor relations. The new hire will ideally bring 10-plus years of experience to the role and will be based at the company’s San Francisco headquarters.
- The natural-products retailer Grove Collaborative, rumored to be considering an IPO, is seeking a San Francisco-based director of investor relations with more than seven years of experience. Responsibilities include developing press releases, investor presentations, earnings scripts, and other materials, according to the posting.
Samantha Stokes, Yoonji Han and Anita Ramaswamy June 29, 2021 at 02:36PM