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I worked at Invesco Institutional
Pros – Solid product suite, global reach, and well known brand
Cons – Focus on retail side of the business and lack on focus on high-revenue potential of institutional business. Consulting firms (McKinsey) with limited knowledge of the industry or internal structure running key projects directly reporting to Executive Mngt. The recommendations are all "white paper" or "metric" based; limits the input from experienced staff, lowers competitive advantages, and doesn't leverage the resource in place. The few promotions that happen are the McKinsey consultants coming on full time. It's disappointing, because Invesco is great firm with great potential and they should leverage the dedicated employees who have been with the firm for years (avg of 10+ years) and not empower consultants fresh out of college to run the company.
Advice to Senior Management – Empower your employees, leverage their experience, and go after the competition. Do everything you can to take advantage of their knowledge - it's untapped wealth that can be a considerable growth engine. If you ignore that or promote novices above these resources, you will lose their knowledge and ultimately these resources (which has been happening for 2-3 years now).
2010-08-11 08:53 PDT
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