– 2. Week in New York Module-
You can be well educated, brave, career oriented person but above all you have to follow your heart. This makes you happy and makes you successful… The way what you choose can be different, we have seen many career paths, companies on this financial week but the essential was the same. Define yourself, believe in the way and do your best.
We have visited or had a chance to meet the represent of well known, worldwide companies, like EY, Pfizer and General Atlantic and have seen the the other side, smaller investor -Zephyr and experts, consultants. All belongs to the financial world, all ‘s main asset is the knowledge about the financial markets and the business strategy but the common point was more human. Every transaction, decision bases on the trust. Behind the numbers there is a person. And the main component of the employee’s or owner’s performance is the passion.
Let’s see the details. Paul Toldalgi, Chairman, president and partner of BTA has underlined, for many years the personal relationship was enough for e good trade and investment, today the analytical skills, math and statistics are more important we have to know the methodology.
But it doesn’t mean we can skip the personal trust, only we have to add it the new knowledge. Innovations happens on the product line, trading line, it means technology helps to increase the value of the financial products.
The Hedge Funds can be more important in the futures? They provide higher return and more divers investment. Next to it more and more wealthy family would like to have a personalized own consultant group for their investing, it is a new way of market but still based on the same need – personal trust.
The financial future, as we have heard will be focusing on the new possibilities, because it still has a lot of opportunities, like talent outside of the US, new style of investing, and we have to consider Europe is not yet well developed capital market as the USA, and Africa, South America are still uncovered in financial meaning, waiting for to be research.
We have visited the one of the biggest investment company, the General Atlantic with 17-20 billions USD assets. They are investing 2 billion USD per year through 12-13 acts. They hold the company for 5 years and then exit. They get 20% of the gain.
hey are global investors with 10 offices all over the Word and with 200 employees. As Mr Matt Nimetz, the Advisory Director said: “If you don’t go global, you cut half of the market and half of the creativity” Half of their investment is outside the US. But they invest very carefully, try to get those sectors which are not too exposed political changes, and not regulated by the government. But again above all, the more important component in the investment is the local team, their specialized knowledge. All decision is team decision the different office has to report regularly and have to convince the others about the new possibilities or the necessary strategy changing.
The other investment company Zephyr Management who we also visited has chosen a totally different way of investment. They are focusing on those markets which are totally uncovered yet, and choosing small and middle size companies to invest in. They have a potential for growing because of the unique product, service, special knowledge and with this financial help they can make a real leapfrog, get a bigger market for instance from Sri Lanka to Middle East. But the technical innovation and the nice promising financial books are not enough for them. They meet and consult with the owner for a long periods before they invest. They had to trust in the partner as their private investors trust in them. They go there as a strategic partner and they have to cooperate for years for a common success.
We had visited one of the biggest consultant company EY during this financial week module. I was totally convinced that we will talk about financial skills and data but got surprised. They were talking about EY family, community with the 1 million people including the EY alumni. Their vision for the next 5 years “Building a better working world” and they believe, the way as we can get it: respect the knowledge, talent and give possibilities to them in the community by trainings, clear carrier paths and interesting tasks. Besides hard skills and technological knowledge soft skills are as much as important. They wouldn’t say you will stay in the company forever but the knowledge what you get there will be valuable in any other places as well.
On the other hand we had a chance to meet with a independent financial consultant who runs his office alone and works for big companies as well. His advantage is the mobility, the price and the special knowledge what he brings from the IT industry. But again the main message was: the partner will contract only if they trust in you. Define yourself on the market, by a special industrial deep knowledge and believe in yourself, as you can make it on the best way.
My main take away is one sentence from Thomas C. Barry, CEO and Founder of Zephyr Management: Go where no one else would go, and do, what no one else would do. You better love the thing you do!