Trends in Asset Management

To All Of Our Friends…

As we were completing our annual reflections on trends in the market, it was impossible to ignore the current upheaval. Foremost, our thoughts are with clients, friends, and family as we all work to get through these unusual times together. Above all else, we hope that this finds you safe and well. Disruption is everywhere and while no one knows how long it will persist, we are confident the new normal will include a renewed and ever dynamic asset management industry.

Despite the turmoil, Team RSR is virtually plugged in and on the phones discussing our current searches or simply sharing conversations about the craziness around us all. Business continues and we are finding people near their phones and willing to share time with us. As for those annual reflections, below are some of the market trends we’re seeing. As well, here is a link to a humorous piece with some sound advice from our colleague, Rebecca Holland New, entitled “How I survive remote work and how my family survives tight quarters together.

The RSR team is here for you — we welcome the calls and virtual company!

Our Annual Reflections…

1. CIOs for two multi-billion Family Offices

  • Perhaps no segment is changing faster — as family offices look to the future and prepare for the next generation to take the reins. Click here to read our white paper.
  • Historically families looked to E&Fs for top investment talent. More recently, they are looking to private equity investors who can identify and assess direct investments in operating companies. This is a good way to dis-intermediate the high fee private equity fund structure.
  • As millennials take the helm, they are more willing and interested in sharing best practices. What was once a cottage industry is becoming far more institutionalized.

2. Senior Investment Officers for multiple $3+B Endowment Offices

  • We have assisted a number of offices in their transition to a generalist model as they work to better align the team with investment strategy and current market opportunities.
  • Though not mandatory, many CIOs are valuing direct investing experience in a prior role, particularly in private equity.
  • Somewhat taboo ideas like ESG, indexing, and passive beta are slowly entering the lexicon.

3. Heads of Marketing and of National Accounts for a $1T+ Global Asset Manager

  • Firms are looking for sales professionals with deep content and market knowledge who are able to deliver CFA-level understanding of the investment process.
  • Marketing functions are also evolving through greater use of data analytics and technology, now seen as a critical strategic partner to distribution and sales.

4. Mutual Fund Board Members for a $170B & $35B Fund Complexes

  • With the industry undergoing consolidation and experiencing increased regulation, mutual fund clients are looking for strategic thinkers who come from other industries which have experienced disruption.
  • Pressure continues to mount to add more minorities and women with the goal of building a more inclusive culture and encouraging diversity of thought in the boardroom.

5. Principal and Vice President for a $11B Secondary Private Equity firm

  • This year, prominent secondary firms will continue to battle through the quest to raise significant institutional capital.
  • Hiring for the build out of deal teams continues as secondary firms find themselves extremely thin in the middle ranks.

6. COOs for two $6+B Endowments

  • We see a growing effort underway to upgrade the entire operations function and better integrate its work flow with the investment process.
  • Senior operations roles increasingly require forward-thinking leadership and the ability to build and/or evaluate sophisticated technology solutions.
  • COOs today must be able to deal with a greater range of business and regulatory issues.

Feel free to contact any of us to discuss further or to explore specific issues or needs of your organization:

Jane Bierwirth
+1 (212) 984-1810
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Maryann Bovich
+1 (212) 984-1815
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Henry G. Higdon
+1 (212) 986-4662
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Edward D.C. Fowler
+1 (434) 977-0061
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Trey Reynolds
+1 (203) 618-7075
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Laurie Anne Eamma
+1 (212) 984-1811
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Emily Kochard
+1 (203) 618-7027
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