True launches private credit hiring practice led by Rick Bank

True, a global executive recruitment firm, launched a dedicated private credit practice on Oct. 16 to place chief executives, chief financial officers, chief operating officers and board members at credit firms, Alternative Credit Investor reported. The practice will also cover investment and operational roles.

Rick Bank, managing director and head of private credit and private equity practices at True, will lead the practice and use TrueBridge to provide temporary leadership while permanent appointments are made. "Private credit creates a very different talent question from traditional private equity," Bank said, adding that the decision often has to account for where the business is today and what the lender is trying to accomplish.

For fund selectors, the pairing of permanent and interim searches adds a specific due-diligence question: whether a lender's CFO or COO seat is permanently filled or held by an interim appointee. Investment and operational roles being rebuilt are also part of that review.