Your first hire in a new market could be your first salesperson, your first country leader or someone expected to build an entire operation. Those are three very different jobs. Before deciding who to recruit, there’s a more important question to answer: what are you asking that person to build?
For FinTech businesses expanding into the US, Europe or APAC, the answer shapes everything from the candidate profile and location to compensation, first-year targets and the support needed from headquarters.
A business testing demand in a new market needs something very different from one preparing to establish a permanent regional operation. Yet both might initially consider hiring someone with the same title.
Getting clear on the distinction before starting a search can save considerable time and help attract candidates whose experience genuinely matches the opportunity.
Drawing on the practical considerations involved in international FinTech recruitment, we explore what businesses should establish before making their first hire in a new market.
1. Decide what you’re building before deciding who
A first hire in a new market can mean three very different things:
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Establishing a sales presence. Someone who can open doors, build relationships and secure the first customers, with support from headquarters.
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Building a local team. Someone who can generate revenue while recruiting and developing the next few hires.
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Establishing a regional business. Someone who can take responsibility for commercial performance, build an operation and eventually manage local teams, budgets and resources.
Each requires a different combination of experience.
A salesperson who has consistently exceeded targets at an established technology provider may be excellent at winning business. But that doesn’t necessarily mean they’ve recruited teams, developed a regional strategy or built a territory without an existing support structure.
Equally, someone who has successfully managed a large regional operation may not have the hands-on experience needed to win the first customers in a market where the business has little brand recognition.
Neither background is inherently better. It depends on what the business needs.
One useful question to establish early is: what should this market look like in two years?
If the ambition is to have a team of eight, the first hire may need to demonstrate leadership and recruitment experience alongside commercial capability.
If the plan is to test demand for 12 months before committing further investment, the priority may be someone who can build a pipeline, win early customers and provide informed feedback on the market.
Those are different briefs, and candidates should understand which opportunity they’re being considered for.
2. Be clear about what your first hire will inherit
A first hire’s ability to succeed depends partly on what is already in place.
For a FinTech business entering a new market, an established brand, existing institutional relationships and access to technical support can make a considerable difference.
Before approaching candidates, it’s worth establishing:
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Are there existing customers who can provide local references?
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Are partners or investors able to make introductions?
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Will the hire have access to marketing, pre-sales and implementation support?
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Is the product ready for local customer requirements?
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Who will manage technical questions, commercial approvals and client onboarding?
These details matter, particularly for FinTech businesses selling complex technology into financial institutions.
A salesperson introducing trading infrastructure, for example, may need to navigate technical evaluations, procurement requirements and conversations with several stakeholders before a deal progresses.
If they’re the only employee in the market, they need to know who will support those conversations.
The same applies to the resources available after a deal is won. Winning a client is one thing; delivering a successful implementation and maintaining that relationship is another.
A strong first hire can create commercial momentum, but they still need the right support around them.
Being clear about that support also makes it easier to assess whether a candidate’s previous experience is relevant to the environment they’ll be entering.
3. Location matters, but so does local authority
Where should the first hire be based?
It’s an obvious question when expanding internationally, but the answer isn’t always the largest financial centre or the location of the first prospective customer.
For a business entering the US, New York may be a natural starting point, particularly if its target customers are concentrated in financial services.
But if the customer base is spread across the country, the business may need to consider travel requirements, access to decision-makers and how closely the hire will work with teams in other time zones.
The same applies across APAC and Europe, where different markets may require different commercial relationships, language capabilities and local knowledge.
There is also a balance to consider between time spent with customers and time spent at headquarters.
A senior hire may benefit from spending their first few weeks or months working closely with product, engineering and leadership teams. Understanding how the business operates can be particularly valuable when they’re expected to represent it independently in a new market.
At the same time, establishing local relationships may be central to their role.
The important consideration is how the working arrangement supports the commercial objectives, rather than simply choosing a city and building the brief around it.
What can they actually decide?
Location is only one part of the question. The authority given to the first hire can be just as important.
Can they negotiate commercial terms? Recommend changes to the product proposition? Recruit additional team members? Make decisions about regional priorities?
Or will those decisions remain with headquarters?
A Country Manager title can suggest considerable responsibility, but the reality may be a largely individual sales role.
Equally, a Regional Sales Director might be expected to build an entire commercial function.
Neither arrangement is necessarily wrong, but the responsibilities need to be clear.
Candidates will want to understand what they can own, where they need approval and how much influence they’ll have over the direction of the business in their market.
The title should reflect the remit, not substitute for defining it.
4. Look beyond impressive numbers and familiar job titles
When hiring into a new market, it can be tempting to prioritise candidates with the strongest revenue figures or experience at the most recognisable companies.
Those achievements matter, but context matters too.
Someone who has consistently delivered strong results at a large technology provider may have benefited from an established brand, existing customer relationships, dedicated sales development resources and a well-defined sales process.
That doesn’t diminish their achievements.
It does, however, mean their experience may be different from what is required to build a territory from the ground up.
In an early-stage regional operation, the first hire might need to:
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Develop a pipeline without an established local customer base.
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Identify which customer segments are most receptive.
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Build relationships with partners and industry contacts.
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Adapt commercial messaging based on market feedback.
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Work closely with product teams to address local requirements.
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Establish processes that future team members can follow.
These responsibilities require someone comfortable working with a degree of uncertainty and taking ownership beyond an individual sales target.
That experience doesn’t always come with a Country Manager or General Manager title.
Someone who has launched a new product, built an early-stage sales function or opened a territory for a growing business may have more directly relevant experience.
When assessing candidates, the useful questions are often about what they personally built, what resources they had and what changed as a result of their work.
That gives a much clearer picture than job titles or revenue figures alone.
5. Set realistic first-year expectations
A new market may have no established pipeline, limited brand awareness and little historical sales data.
Applying the same targets used in an established region can create unrealistic expectations, particularly when the business sells complex products with long enterprise sales cycles.
If a typical deal takes six to twelve months, for example, the first hire may spend a significant proportion of their first year developing relationships and progressing opportunities before meaningful revenue arrives.
That doesn’t mean performance cannot be measured.
It means the measures should reflect the starting point.
Depending on the business and its objectives, early indicators of progress could include:
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Qualified opportunities generated.
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Relationships established with target accounts.
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Opportunities progressing through technical evaluation.
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Initial customers secured.
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Partnerships developed.
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Greater clarity around the most promising customer segments.
For someone building a regional operation, progress might also include recruiting the first team members or establishing a repeatable commercial process.
These expectations should be agreed before the search begins.
They will influence the seniority required, the compensation package and how candidates assess the opportunity.
Compensation should reflect the market and the remit
Pay is another area where international hiring requires local consideration.
Converting a UK salary into US dollars or Australian dollars is unlikely to provide a reliable benchmark.
Compensation will depend on the local talent market, the responsibilities involved, the company’s stage of growth and the balance between fixed and variable pay.
A role focused on generating early sales may require a different incentive structure from one responsible for building and managing a regional operation.
Candidates will also want to understand how targets have been established, particularly if there is no existing revenue history in the market.
Being transparent about the commercial expectations and how the package reflects them can make a considerable difference during the hiring process.
6. Resolve the practical questions before going to market
A compelling opportunity is important, but experienced candidates will also want to know whether the business is prepared to support its expansion plans.
Some of the questions worth answering before starting the search include:
Who will the first hire report to?
If regional or global leadership structures are still evolving, explain the intended reporting line and how it may change.
Will they be employed through a local entity?
If the business has not yet established an entity, it may be considering an employer of record or another employment arrangement. The appropriate approach will depend on the jurisdiction and should be reviewed with qualified advisers.
What support will be available from headquarters?
Candidates need to understand who they can rely on for product expertise, technical demonstrations, implementation, marketing and commercial decisions.
What happens if the market grows?
If the intention is to build a team, establish when additional hires may be approved and what the first employee’s role in that process will be.
What happens if expansion takes longer than expected?
International growth rarely follows a perfectly predictable timeline. Being realistic about investment commitments, sales cycles and review points helps candidates understand the opportunity.
There may also be jurisdiction-specific considerations around employment, immigration, regulation and business operations.
For example, Singapore has revised Employment Pass salary requirements taking effect from January 2027. Businesses planning to employ overseas candidates should check the current requirements directly with the Ministry of Manpower.
These details may not be the most exciting part of international expansion, but resolving them early can prevent delays and uncertainty later in the hiring process.
Frequently asked questions
Should our first hire be a salesperson or a country manager?
It depends on what the business needs to achieve.
If the priority is testing demand and winning early customers, a commercially focused salesperson may be the right choice.
If the intention is to establish a local operation and build a team, the business may need someone with broader leadership and operational experience.
The important thing is to define the responsibilities before deciding on the title.
Do we need a local entity before hiring?
Not necessarily. Depending on the country and circumstances, businesses may be able to use an employer of record or another compliant employment arrangement.
The options should be reviewed with appropriate legal, tax and employment advisers before making commitments to candidates.
How long should it take our first hire to generate revenue?
That depends on the product, target customers and typical sales cycle.
For complex enterprise FinTech products, meaningful revenue may take time to develop. First-year targets should reflect the maturity of the market and the resources available rather than automatically matching established territories.
Should our first hire come from a direct competitor?
Not always.
Experience selling to the same buyers can be valuable, even when the candidate comes from an adjacent product or technology category.
Understanding the customers, the sales process and the challenges of building a market may be more relevant than having sold an identical product.
Getting the first hire right
There is no single ideal profile for a FinTech business expanding into a new market.
The right person depends on what the business wants to achieve, the market it’s entering and the support it can provide.
For some, the priority will be finding someone who can open doors and win the first customers.
For others, it will be an experienced leader who can establish a regional presence, build a team and take ownership of commercial growth.
And sometimes, the most valuable step is refining the role before beginning the search.
The question isn’t simply who should lead the new market. It’s what the business needs that person to build.
Supporting FinTech businesses with international hiring
With teams in London, New York and Singapore, EC1 Partners supports FinTech and financial services businesses hiring across the US, Europe and APAC.
Our consultants recruit across commercial, technology and leadership functions, helping businesses define their hiring requirements and identify candidates with relevant market and functional experience.
Whether you’re planning your first hire in a new market or expanding an existing regional team, get in touch with EC1 Partners to discuss your hiring plans.
