InX spotlight series: In conversation with Chris Nucci
At InX, exceptional results are delivered by exceptional people. Our team combines deep specialist knowledge, market intelligence and a relentless focus on quality. This spotlight series offers insight into the people behind our practice, exploring how they navigate the executive search landscape and what drives them beyond the office.
In this edition, we are delighted to welcome Chris Nucci, Partner in our private equity practice, to discuss the evolving demands of CFO search in PE-backed software businesses, why mid-hold leadership changes are becoming the norm, and his journey from the Canadian Armed Forces to the C-suite search market.
Firstly, could you provide an overview of your role and area of specialism at InX?
I've joined InX as a Partner in the private equity practice, focused on CFO search for portfolio companies owned by middle market and large cap PE funds. Given my background and network, CFO and broader CxO search within software will be my primary focus as I build the desk, with the intention of expanding into multi-sector CFO search across the broader PE market.
Tell us more about your experience and background. How do you see that adding value in your new role?
I've spent nine years in executive search, the first three of which were in a delivery role across retained mandates in tech and professional services. The last six years have been focused exclusively on CxO search for PE-backed enterprise software businesses, across various sub-sectors including vertical market software, fintech and transportation technology, supply chain, manufacturing and ESG platforms.
My experience across the C-suite is broad, covering CEOs, CFOs, General Counsels and General Managers. Over time, CFO placements became my clearest area of focus and where I worked most closely with fund Operating Partners. That functional depth, combined with deep sector experience in software, is what I bring to InX immediately, and what will anchor the desk as I build it out.
What interesting trends are you noticing in your market?
One trend I've noticed over the past two years is the normalisation of mid-hold CFO replacements. This used to be considered a disruptive last resort, but it's now quite common. In my view, it’s a deliberate feature of how PE firms manage their portfolios.
Roughly half of PE-backed CFOs are in seat for two years or less. Sponsors are recognising that different stages of a hold period require different capabilities. The CFO you need post-acquisition — building controls, financial infrastructure and reporting — is a very different profile to the one you need when the business is in growth mode, undergoing a full-scale transformation, or preparing for exit. One person rarely scores a ten in every skillset, and our role is to curate a network of finance leaders who come as close to it as possible.
What was it about InX that stood out to you during your search process, and what excites you most about your future here?
The reputation and track record of the PE practice, and the ambition the team laid out. InX is in growth mode, and this is a genuine build-out rather than an inherited desk.
What excites me most is the opportunity to define what that looks like — building the network, establishing relationships with sponsors and their portfolio companies, and delivering in a market I know well. CFO search within PE is a space InX hasn't fully activated yet, and being the person who gets to do that is genuinely exciting.
What's the best piece of career advice you've ever received?
Specialise enough to be known for something. Generalists are hard to refer.
If you weren't in executive search, what career path might you have taken?
If I wasn’t in recruitment, I would likely have gone into tech, probably starting out in the product team. AI is rewriting what software can do, and so figuring out what to build, for who, and why, then actually bringing it to market with a team is an exciting job nowadays. The best part is that in search, is that get to sit very close to those conversations every day.
Outside of work, what might people be surprised to learn about you?
Back in Canada I was in both the Air Cadets and the Canadian Armed Forces. It's a reasonable distance from where I am now, though the discipline of showing up and getting on with it probably isn't so different.
Get in touch with the InX Private Equity team
Whether you're a sponsor looking to strengthen finance leadership across your portfolio, or a CFO considering your next move in a PE-backed business, connect with Chris and the team to explore how InX can help.