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The Role of Executive Search Firms in the Finance Industry Executive search firms play a crucial role in the ever-evolving landscape of the finance industry. One of the key responsibilities of executive search firms is to thoroughly understand the specific needs and requirements of their finance industry clients as related to the role.
These were among the questions addressed at a luncheon in New York convened by CFA Institute President John Rogers with financial industry leaders that included representatives from private and not-for-profit assetmanagers, public pension funds, insurance companies, and diversified financial services firms. What Can Be Done?
Recently, my colleagues at the Focus Consulting Group and I surveyed more than 100 assetmanagement firms around the world, testing both for the strength of their cultures and for the effectiveness of their leadership teams. Teamwork is not the only key to success in the assetmanagement industry.
a survey indicated that fewer than 60% of the Secret Service personnel said they would report ethical misconduct. One of my clients, a CEO of an assetmanagement firm, said to me, "I would not blink if one of my fund managers lost $10 million due to a wrong bet, but I would fire him immediately if he cheated $10 on his expense report.".
And in January 2011, more than a year before Smith's op-ed (and in response to the SEC complaint), Goldman issued a report on business standards seeking to make more transparent how it would handle with clients its different roles of advisor, fiduciary, market-maker, underwriter, assetmanager and investor for its own account.
That's why Lord Robert Skidelsky recommended a couple of years ago that while microeconomists could be allowed to proceed along pretty much the same statistical and mathematical path they'd been following, graduate education in macroeconomics needed to be dramatically revamped and supplemented with instruction in ethics, philosophy, and politics.
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