Ellen Louw Chief Financial Officer, Cushon

Company

Cushon is helping to improve people’s financial futures through healthy and more sustainable savings habits. Their approach is to make saving for the future simpler, more rewarding, and engaging, working with employers to make a massive contribution to the financial wellbeing of their employees. They achieve this through their next-generation tech, intuitive investment options and information, super easy customer experience, and simple and straightforward communication. They also aim to do this in a sustainable way for the planet, promoting investment in ethical and environmentally friendly categories that promote a sustainable future for their customers and the planet.

In early 2023, NatWest Group acquired a majority shareholding (85%) in Cushon. The acquisition follows a number of financial wellbeing-focused services that the Group has recently introduced, such as Rooster Money, to help support greater financial resilience. The partnership has accelerated Cushon’s plans for further technology-led innovation to improve the UK’s financial wellbeing.

Search Background

The business has come an incredibly long way since it started in mid-2017, and they were looking to bring on board a Chief Financial Officer (CFO) to join the ranks and be an integral part of the team as they grow further and faster. The CFO would play a crucial role in scaling the company and supporting Ben Pollard and Troy Clutterbuck on strategy development and the tactical direction of Cushon as they embark on this next phase of their journey. Most importantly, the CFO would be a critical member of the Group Exec Committee (ExCo) and a huge part of the customer-obsessed culture they’re building.

Requirements

The CFO would be proactive in driving the direction of what is possible through finance and, as such, will be a strategic finance leader. They would be able to clearly demonstrate the commercial contribution to the businesses they’ve worked with and possess the ability to think strategically about M&A. The CFO would bring a strong track record of success during periods of growth and a growth mindset to the Executive Team. As a vital member of the SLT, the ideal candidate would bring deep financial expertise to company-wide decisions. With an already established and performing team in finance, the CFO would come with the leadership capabilities to drive and motivate the team and create a best-in-class function that genuinely partners with the business.

Result

After an extensive search, Erevena introduced Ellen Louw. Ellen graduated from Stellenbosch University and began her career at PwC in South Africa. After seven years, she transitioned to AMEX, where she progressed from technical accounting to FP&A and business partnering, and delivered a “ways of working” transformation. During her nearly 11-year tenure at AMEX, she held eight different roles and worked globally. Seeking a new challenge, Ellen joined WorldRemit in 2018 to build the FP&A and business partnering functions, also leading M&A and Corporate Development. She successfully built the Finance function, led an acquisition, and raised a $175M Series D. Ellen then joined Reach, a major commercial news publisher, to drive business commercials, create a customer value strategy, and enhance revenue streams. All in all, Ellen was a well-rounded leader with comprehensive experience across the various departments of finance and, beyond this, was a brilliant culture fit for the team at Cushon.