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This follow up the The asset owner of tomorrow, identifies six attributes as critical requirements to asset manager success.
- Strong culture. While recognizing one size does not fit all with culture, asset managers crave a culture of professionalism in which commitment to competency and client loyalty are the defining values
- Technology commitment. A commitment to the considerable time and money necessary to introduce better technology
- Technology-savvy leaders. This is a very human craft with T-shaped people – well-qualified all-rounders -particularly suited.
- Well-positioned business models. Firms need to align themselves to benefit from the new trends in asset management in which the biggest growth area is in investment solutions.
- Recognition of comparative advantage. Firms need to be good at knowing what they are good at. And outside that, collaborating with or outsourcing to partners.
- Dealing with change. This involves the ability to step away from legacy systems and thinking and to reject the natural temptation to deny the problem.