1. Tell us a little bit about your business.
Capital Assignments is a specialist executive search firm that has been dedicated to financial services for over 30 years. Our focus is on asset management and investments, where we’ve built deep relationships and networks. It’s not just about filling roles, but about understanding organisations, people, and culture. Over time, our work has contributed to shaping leadership teams that carry businesses into the future.
2. When, how, and why did you start your business?
The business began in 1995, just after South Africa’s first democratic elections. It was an extraordinary time of change and possibility. Being in executive search meant having the privilege of helping shape transformation by finding and placing the leaders of tomorrow. There was also a gap for a search firm that truly understood financial services and could combine deep market knowledge with a genuine commitment to people.
Being a young woman in a male-dominated industry was not always easy, but it taught me resilience and gave me even more determination to succeed. The early years were tough, but passion carried us through. Looking back, I am deeply grateful for taking that leap.
3. What is your role in the business?
As Managing Director, my role is to hold the vision while staying close to the work. Much of my time is spent in boardrooms and executive conversations, guiding succession and leadership decisions that shape organisations. Just as importantly, I make time to support and guide my team, because our business can only be strong if the people within it are consistently trained, guided, and well-led.
4. Where did you study and what did you study?
My first university degree was in teaching, which gave me patience, empathy, and the belief that every person has potential. As a teenager, I had one remarkable teacher who truly saw me at a time when I struggled to see value in myself. Her belief inspired me to become a teacher because I wanted to offer that same encouragement to others who might otherwise feel unseen.
Later, I completed a Master’s in Coaching Practice at Middlesex University in the UK. Coaching is now part of how I lead, how I engage with clients, and how I support candidates. It allows me to ask thoughtful questions, listen deeply, and encourage people to step into leadership with boldness. Creating that space also means holding back my own strong opinions at times, so now and then I give myself a silent pep talk so I don’t make sure I’m being diplomatic.
5. How did you finance your business?
In the early days, I bootstrapped the business. There were no big investors or backers, so I had to work hard and be very disciplined about how I spent money.
6. Describe your average workday, if such a thing exists.
My days are varied. Some days are spent in boardrooms, as I sit on two boards of nonprofit organisations which form part of my work each quarter. Other days involve meeting clients or candidates, travelling, or guiding my team. I also spend time reviewing reports, engaging with multiple stakeholders in businesses to ensure our searches are aligned, and doing extensive research to keep abreast of industry trends. There are also quieter moments for reflection, writing, and preparing insights for clients. What makes it energising is that no two days are ever the same.
7. How do you balance your home life and your work life?
Over the last 30 years, I can honestly say I haven’t always done this well. There were times when I experienced chronic burnout. Things are different now. I’ve learnt how to listen to my body and give myself the rest I need. I have three beautiful dogs, and spending time with them grounds me. My husband and I step away from our businesses for long weekends, and I make sure to prioritise time with my daughter, who lives in the UK. Balance is something I’ve had to learn the hard way, but it’s now a non-negotiable part of my life.
8. What drives you and inspires you?
From the time I was a young girl, I had a soft heart and wanted to make a difference. I know it’s a cliché to say that, but I’ve been blessed to build a career that allows me to do exactly that, alongside my work in non-profits like Women for Afrika and the Sighthound Rescue organisation.
What inspires me most are the moments when I look back with captains of industry and remember the early days when I placed them in their very first roles in financial services. Knowing that my work had a hand in shaping their careers gives me a deep sense of fulfilment. What drives me is the knowledge that the work I do is meaningful and that matters to me.
9. Where and when do you have your best ideas?
Clarity usually comes when I step away from the rush. Early mornings, long walks, or quiet moments on a trip often spark the best ideas. I also find journalling helps me tremendously to generate ideas.
10. Where and how do you market/advertise your business for sales leads?
For the most part, we have never really had to. Executive search is an industry built on trust, and that means trust must come first. Much of our work comes through word of mouth and referrals. We also use LinkedIn to share insights and stay connected with candidates and leaders, but the foundation of our business has always been relationships.
11. What is next for your business?
We are continuing to grow our footprint in the UK, but our priority will always be South Africa. The future of Capital Assignments lies in the hands of the team who are building it with me. Our industry is complex, with constant change and growth, so we stay ahead by applying global practices in search and by keeping close to the shifts in our markets. Passing on what we’ve learnt in the last 30 years to the next generation at Capital Assignments is a key focus for me. If the past 30 years are anything to go by, the future will not be boring
12. What advice would you give to female entrepreneurs hoping to start their own business?
Find mature, successful mentors who can walk the journey with you. The more advisers and mentors you have, the better. Running a business requires many different skills, and you can’t be good at all of them. Build strong relationships with people who can guide you, challenge you, and walk alongside you. That support will make all the difference.
Short bio
A passion for leadership and empowerment, as well as a flair for strategy, has led Phryne Williams on an entrepreneurial journey. It started with her pioneering executive search firm exclusively for the Financial Services industry almost three decades ago. Today, as the Founder and Director/Owner of Capital Assignments, Phryne is a specialist headhunter, identifying top-tier talent for Board, C Suite, and executive leadership positions in the global arena.
After finishing high school and graduating as a teacher, Phryne made a career switch to the recruitment field. In its early days, Capital Assignments was a Cape Town startup, and Phryne built the business on the executive search model in the firm belief that strategic headhunting is the gold standard for identifying and engaging talent, and making cost-effective, successful placements. She focused strongly on training and upskilling her team. Implementing best practices ensured that the business was fit to meet the high-level demands of the Financial Services sector.
