Barclays Global Investors – “About to change”

Pros

Collegial, smart and friendly people. Not at all a cut-throat investment banking culture, and open door policies are typically the norm.

Cons

Very internalized in terms of its thinking. Disparate cultures, with some not understanding the new world (move away from active equity towards ETFs). Need to think more externally, spend more time listening with clients, avoiding ego and introducing better management discipline.

Advice to Senior Management

Good luck with the integration. It's going to be a rude awakening for many adopting BlackRock's more client-centric approach and focus on business discipline. Beef up the leadership presence in San Francisco - it's woeful, and will be needed with the BlackRock acquisition and transition of power center from San Francisco to New York.