by Maha Khan Phillips
Submitted by Northern Trust Corporation
The Covid 19 crisis has fundamentally changed things, not least for the asset management industry. Whether it is about focusing on their social purpose, highlighting the importance of staying calm, emphasising leadership, arguing about the need for active management, the development of a systems framework for investing, or stressing the need for sustainability and other key factors, senior leaders tell Professional Investor what the crisis has highlighted for them.
Head of EMEA, Northern Trust Asset Management:
People are everything. As leaders, we need to assess our teams, empower those who are willing and able to help in a crisis, and look after those who need support.
Crisis makes leaders. In an industry with well-thought out processes, best practices and governance procedures, we are in new territory. You can learn a lot about a person during the good times together, but you learn everything about them in crisis. Diversity matters. Getting the most out of a diverse team’s myriad of perspectives helps you come to better decisions. Focus on what’s important. Zoom out and prioritize rigorously using the best available facts. This situation is unprecedented, and keeping the long term in mind while staying true to core values can centre us on what’s important.
Northern Trust is a leading provider of asset servicing, fund administration, investment management, banking and fiduciary solutions for corporations, institutions, and affluent individuals worldwide.
Since 1889, when Northern Trust was founded in Chicago, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instil in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
More from Northern Trust Corporation