In Part 1 of our Investment Savvy CFO series, we explored how the role of the CFO is changing and what boards and investors increasingly expect from finance leaders today.
For Part 2 of the series, I wanted to take that discussion one step further.
It's one thing to understand what investors say they want from a CFO. It's another to understand how they actually assess whether someone has those qualities when hiring, building leadership teams, or preparing a business for growth.
To explore that, I sat down with Peter Holt, Partner at Drax Executive. Peter has spent more than two decades helping investors, boards and leadership teams identify and appoint senior finance leaders, giving him a unique perspective on what genuinely differentiates CFOs in today's market.
What struck me most was how often the conversation moved beyond qualifications, job titles and technical capability.
Those things still matter. They're expected.
The real differentiator is what you've done with them.
One of the first topics we explored was what people really mean when they describe a CFO as "strategic".
It's a phrase that appears in almost every finance leadership conversation, yet it often means different things to different people.
Peter's perspective was that investors and boards are frequently looking for situational experience rather than strategy in the abstract. They want to understand what challenges a CFO has already navigated and whether that experience aligns with the journey a business is about to undertake.
If a business is preparing for acquisitions, they want someone who has successfully integrated acquisitions before. If the focus is scaling, transformation or preparing for investment, they're looking for evidence that a CFO has helped drive those outcomes elsewhere.
That was a useful reminder that being strategic isn't about sounding strategic. It's about demonstrating how previous experience can help solve future challenges.
Another area we discussed was the importance people place on job titles.
Many finance professionals worry about whether they're currently a CFO, Finance Director or Financial Controller when thinking about future opportunities.
Peter challenged that thinking.
What matters most is not the title itself, but the influence and impact you've had within the business.
Boards and investors are looking for evidence of ownership, leadership and contribution. They want to understand how you've helped shape decisions, overcome challenges and create value.
It's not enough to assume that experience speaks for itself. Candidates need to bring that experience to life and demonstrate how it relates to the opportunity in front of them.
For me, this was one of the most practical takeaways from the discussion. Career progression isn't always about collecting titles. It's often about building experiences that demonstrate readiness for the next challenge.
A theme that appeared throughout the conversation was ownership mentality.
Historically, finance leaders were often viewed as the people responsible for reporting performance and explaining the numbers.
Today's expectations are very different.
The most effective CFOs are increasingly expected to influence decisions, challenge thinking, support growth initiatives and help leadership teams navigate uncertainty.
They're not simply reporting what has happened.
They're helping shape what happens next.
That mindset came up repeatedly when Peter discussed the qualities investors and boards value most highly. The CFOs who stand out are often those who see themselves as genuine business partners, taking responsibility for the wider success of the organisation rather than focusing solely on finance.
We also spent time discussing what CFOs can do to prepare for future opportunities, particularly within private equity-backed businesses.
One of Peter's key messages was that finance leaders should focus on building relevant experiences before they need them.
That could mean strengthening cash management disciplines, broadening commercial exposure, gaining experience of investment activity or taking on projects that stretch leadership capability.
Professional development also remains important.
Qualifications continue to provide credibility, but ongoing learning, coaching and wider business exposure can all help finance leaders build the skills required for increasingly strategic roles.
What I found particularly interesting was the emphasis on curiosity and self-development. The strongest leaders aren't waiting to be told what they need to learn next. They're actively investing in themselves and preparing for future opportunities before they arrive.
One of the biggest takeaways from this conversation is that technical capability is now the baseline.
Strong finance leadership, professional qualifications and experience remain essential. But they are rarely the factors that truly differentiate candidates.
What increasingly stands out is the ability to influence outcomes, demonstrate ownership and apply experience to the challenges a business is trying to solve.
For CFOs considering their next move, that's an important shift.
The question is no longer simply whether you're capable of doing the job.
It's whether you can clearly demonstrate the impact you've had, the value you've created and the role you can play in helping a business achieve what's next.
▶️ Watch the full episode on YouTube
📖 Read the show notes for key takeaways
🎧 Listen on Spotify / Apple Podcasts
🔗 Connect with Peter Holt