As businesses navigate economic disruption and shifting governance standards, the role of the Chief Financial Officer (CFO) is evolving rapidly. This shift is particularly evident in emerging markets, where a new generation of first-time CFOs is stepping into leadership roles.

According to Eton Bridge Partners’ recent CFO Pathways Report, this shift is especially pronounced in regions like India, China, and parts of Southeast Asia, reflecting both opportunity and necessity in equal measure.

Emily Harrison, Researcher within the Finance Practice at Eton Bridge Partners, shares her insights into global financial leadership trends and talent dynamics in emerging markets.

Age matters: A global perspective

Globally, the average appointment age for CFOs sits in the early 50s, suggesting that financial leadership is often seen as a culmination of long-term executive development. However, emerging markets are rewriting that script. In China, the average age of CFO appointees is just 46, the youngest among the top ten global markets. Hong Kong follows closely with an average age of 48. In stark contrast, Japan’s CFOs are the oldest on average, at 58, emphasising the enduring value of seniority and tenure in that market.

Most other regions, including the US (51), UK (51), and Canada (52), cluster near the global norm. These age distributions reinforce broader cultural attitudes –  Western markets balance experience and innovation, while many Asian markets either embrace youth (as in China and Hong Kong) or elevate long-serving internal candidates later in their careers (as in Japan).

Why emerging markets are embracing new talent

So, what’s behind this wave of first-time CFOs popping up across emerging markets? In many ways, it’s about timing, opportunity, and a willingness to think differently.

Economies such as India, China, and parts of Southeast Asia are growing fast. This momentum creates all kinds of openings for ambitious finance professionals to step up. New companies are being built, IPO pipelines are filling up, and industries like tech and healthcare are booming. Naturally, all this activity needs strong financial leadership, but not necessarily in the old-school mould.

Then there’s the influence of private equity. While it’s not as dominant in some of these regions as it is in places like the US or UK, it’s definitely gaining ground, and PE-backed firms tend to move quickly. They want sharp execution, strategic thinking, and the ability to guide a business through fast growth or a successful exit. That means they’re often more open to taking a calculated risk on a rising star who hasn’t worn the CFO hat before, but has all the right instincts.

The CFO role has fundamentally shifted. It’s no longer just about compliance and control. Today’s CFOs need steer growth, drive strategy, and lead across the business. That opens the door to candidates from different backgrounds; FP&A, investor relations, transformation, even tech – especially in businesses that are scaling up or reinventing themselves.

Emerging markets are seizing the chance to tap into fresh, forward-looking talent. It’s not about lowering the bar, it’s about expanding the definition of what a great CFO can look like.

Balancing fresh leadership with financial expertise

While the appetite for first-time CFOs is growing, our Pathways Report shows that boards are still prioritising CFOs with a proven track record. First-time CFOs who secure these roles tend to be exceptional, with strong internal sponsorship, clear upward trajectories, and deep domain expertise.

This balancing act between refreshing leadership ranks and maintaining financial stability is especially delicate in regions with evolving regulatory environments or high investor scrutiny. In such contexts, hiring managers often hedge their bets by combining new appointments with robust mentoring, onboarding programs, or supporting executive teams with experienced deputies.

The report also shows that in private equity-heavy markets like the US, UK, and Germany, CFO appointments often prioritise transaction-readiness and proven execution. In contrast, in markets like Canada and Australia, where PE plays a less dominant role, boards are more open to backing internal talent or rising leaders.

The path ahead

As experienced CFOs retire and the demand for digitally-savvy, cross-functional leaders increases, the global talent pool must adapt. Emerging markets are ahead of the curve in recognising that future-ready finance leadership doesn’t always require a decades-long résumé. But the rise of first-time CFOs doesn’t mark a retreat from excellence, it signals a shift in how that excellence is defined.

Companies that structure their succession planning to accommodate promising internal candidates and support them with the right training and executive mentorship stand to benefit the most. As financial leadership becomes increasingly strategic, those who combine commercial insight, digital fluency, and adaptive thinking, regardless of tenure, will define the next generation of CFOs.

At Eton Bridge Partners, we specialise in appointing CFOs and senior finance executives – permanent or interim – tailored to your organisation’s unique culture and strategic priorities. With our deep expertise and extensive networks, we deliver finance leaders who are not just technically skilled, but true strategic partners to CEOs and leadership teams worldwide.

If you’re a finance professional seeking a new role, or a business needing a trusted partner to find leaders who align with your culture and goals, please get in touch.

Download our latest CFO Pathways report