What are these senior, very well paid new hires mean?
Does anyone believe the P-M (Platform Operating Model) is really going to work?
Are all existing LOBs Client Services and Alts (for AS) going to report into these new heads? What does it mean for AS Client Coverage? Sounds like everyone will be reporting to the new head of client services, as his role is very broad, including looking at new commercial opportunities?
Someone has to fund these new hire’s, more heads will need to roll to fund these!
Maybe the AS leadership (EP, AF, JM, CA) will bear the brunt.
Do we even care what our clients want?
Somehow the stock is an all time high and maybe BK know what they are doing?!?!
3 replies (most recent on top)
There are very few front office people here who would be able to comment on these guys. Most of people on this site are support functions, ops, tech, etc.
The model is clearly moving toward a function (client service in this case) and client segmentation-centric view of our businesses. I don’t think it’s a terrible thing to have a single person responsible for a particular client segment across the company. Would help align the strategy with where clients (alts in this case) are trending. Historically it’s been super hard to do that as the LOBs, ops, tech all have their own budget and often don’t align in priorities. What one business thinks is good for their alts platform, another business may disagree with or place lower on their priority list. Often, it takes both businesses to fund their products at the same time to actually create a solution clients want. This type of role helps cut across that.
This operating model is trash. It doesnt work and they are combining products that have nothing to do with each other. Lets not even talk about they have people making decisions that dont have a damn clue with whats going on
These new hires are going to save our firm! We are so lucky they agreed to join us when we invited them.