Senior executives in Asset & Wealth Management are looking through geopolitical turmoil to the underlying strength of businesses and markets in the US, Western Europe, and Asia ex-China, and our strong pipeline of recruiting work reflects this trend. Equity markets near all-time highs and strong credit markets still supported by aggressive global monetary policies have encouraged this outlook perhaps more than in other industries. We are launching a number of important searches as we move from Q2 into Q3.

Our ongoing recruiting work has been significantly altered over the last several years by the large rotation in demand for skills toward technology. This shift is occurring in every function, with a superior track record in traditional skills and business results now simply the table stakes to stay in the game. We are publishing a blog on this topic concurrent with this newsletter.

Despite media coverage of significant layoffs, most of our clients are projecting slight headcount increases in 2019. This incremental rise does not capture the magnitude of recruiting initiatives in key areas.

Recent Search Work Includes

▪ CEO of large alternatives manager of managers
▪ CMO of one of the largest mutual fund and ETF businesses
▪ CHRO of large regional diversified asset and wealth management firm
▪ Chief Distribution Officer for a large fintech firm
▪ Chief Revenue Officer and EVP & Head of Sales for one of the largest wealth management platforms, both out-of-industry hires with a focus on fintech
▪ CEO of a $4 billion family office
▪ Lead Independent Director & diversity board member for new mutual fund complex
▪ Head of ETFs for a large US asset management firm
▪ Senior Product Manager for a leading specialty ETF sponsor.

Despite media coverage of significant layoffs, most of our clients are projecting slight headcount increases in 2019. This incremental rise does not capture the magnitude of recruiting initiatives in key areas including:

▪ Marketing leadership to help firms grow the sophistication of technology-driven sales enablement processes.
▪ Growth of ETFs as an important distribution strategy for active managers.
▪ Continued demand for experienced portfolio management teams in high active share investment strategies in less efficient markets including enhanced yield credit, concentrated specialty equity and emerging markets, among others.
▪ Quantitative and technology skills that add to every investment strategy.
▪ Out-of-industry expertise from fintech companies in technology and operations leadership.

As part of our recruiting and consulting schedule, we have been invited to speak, published a number of blogs, and have been quoted extensively in the media:

▪ Seismic Shift in Leadership Skills Underway (Blog), see also
– CFA Institute Investment Professional of the Future (Contributor)
▪ Leadership Transitions — Accelerating the Pace of Change (Blog), including 
– US Institute CEO Roundtable: The New CEOs — Cultivating the Next Generation of Leaders (Panel)
– CFA Institute CEO Seminar for Global Investors: Accelerating Change — A New Generation of Leadership Steps Forward (Panel)
▪ Unconscious Bias in New Hire Compensation — Profitability Expectations vs. Gender Pay Bias (Blog)
– Also see Pensions & Investments (Op-Ed)
▪ MFDF Fund Governance & Regulatory Insights Conference “Fund Board of the Future” (Panel)
▪ 2019 Fund Intelligence Mutual Fund Industry Awards (Judge)
▪ 2019 Fund Intelligence Operations & Services Awards (Judge)
▪ FundFire Exchange: Recruiter Roundtable — The Evolution of the Institutional Asset Management Job Market (Webinar)
▪ FundFire: Bridgewater Moves to “Revolutionize” Ops Functions
▪ FundFire: KKR, Apollo Trumpet Aggressive Growth Plans
▪ Board IQ: Recruiting Takes a Lot of Time, With or Without Help

We remain active working with our clients and successful candidates, consulting to them and networking at a wide range of industry events as both a speaker and attendee.

We look forward to staying in touch and being helpful on recruiting or market intelligence matters. Please. Please call at any time e-mail George or Beverly if you have any questions or for an update on our activities and viewpoints.