Recently, I was travelling. I was away from my neighbourhood and whilst I was in an area that was somewhat familiar to me, it wasn’t somewhere that I knew intimately. I started thinking about how before Satnavs came along, everyone would carry maps in their cars. This would usually allow drivers to navigate from one big conurbation to another, but that last few miles were always a challenge.
It was cold and rainy in New York last weekend. I rewatched two movies that got me thinking – The Matrix and The Imitation Game. These got me digging down “rabbit holes” (get The Matrix line here?) where I ended up rereading several recent articles.
Have you ever thought about how many online searches you do each day? Here are the facts:
We had a workshop last week in Boston attended by reporting teams from five different asset managers. The group was diverse not only in the size of funds managed, but the pieces of accounting and reporting that were managed in-house versus outsourced. There was some of everything.
Just this week the subject of dealing with a financial printer came up with several financial reporting teams. On two different occasions, teams told us that somewhere around 10-14 days before filing, “we send the document to the printer.”
When I asked why, they looked at me and said, “Well, we have to get it typeset and filed.”
Then I asked how long it takes. They said, "Usually two days to get the first proof back, and then we turn the document two or three more times."
I was shocked. Even more so when I heard what it cost them.
Finally, I asked if they thought this process worked. They said, “Well, no, but what choice do we have?”
We hear the term “re-inventing the wheel” all of the time. It's a term used so loosely, and the phrase has all but lost its impact.
Until you consider, that Goodyear has actually gone and done it.
They have created a spherical wheel: the Goodyear Eagle-360. It looks like a big rubber ball and here’s a picture to prove it.
Of course, it's just a concept. The maglev drive they need to make the wheels rotate doesn’t actually exist yet, but it probably will soon, given the amount of money that is being thrown at it.
How very interesting that a publication like Ignites Europe actually has a tab or “sub-tab” under Research & Data titled "Best-Selling Managers."
Articles such as, BlackRock Tops International Sales Table; State Street Dominates UK Fund Sales; BlackRock, Deutsche Dominate International Sales; and JP Morgan Dominates Cross-Borders Sales most certainly beg the question, what makes them “best-selling”?
According to Lipper’s Best-Selling Managers rankings, BlackRock was at the top of the International-Top 5 Best Selling Managers chart, measured by quarterly net sales (in millions of Euros), in Q3 2015. Clearly, BlackRock’s dominance in the league table confirms its successful deployment of marketing materials, performance reporting or other forms of investor communication. They also certainly know how to navigate the press, as all of the articles listed above with various titles relate to the same league table category.
Do you think when you are looking for something, you see it more often? I keep seeing articles about:
- Market “headwinds” and outflows impact on revenue and profits
- How firms are dealing with the above
- Technology changes
PwC recently polled 189 CEOs of asset management firms regarding risks of cyber security and opportunities with new technology. One of the findings was that 85 percent are looking at ways technology can help improve and streamline client interaction with their platforms, while 58 percent are giving priority to strategic alliances, for instance with financial technology or FinTech.
Two weeks ago many leaders from countries and organizations throughout the world attended the World Economic Forum Annual Meeting in Davos, Switzerland. The 46th annual conference attracted 2,600 attendees, including government, regulatory and corporate leaders. A key agenda segment of the conference included a theme entitled Mastering the Fourth Industrial Revolution. It considered how technological changes will alter the way we travel, live, work and do business.
In the real estate business there is a term – HIGHEST AND BEST USE – defined as the best reasonable and legal use of real estate that is possible, which if supported and is financially feasible, results in the highest value returned.
One of the strongest intellectual drivers people have is to do something well – to master something. We are born with this need. When employees feel they have mastered their jobs, their performance will skyrocket. Finding a good fit between an employee’s natural ability and interest, and the requirements for the job is crucial to meeting the master need.