Theglasshammer.com hosted the first in the series of invitation-only networking seminars for senior women on the Buy-Side at the Harvard Club in New York City on September 29th. Our intent: to create a peer-to-peer environment for CEOs, Principals and Managing Directors of traditional and alternative funds to enable them to interact with Chief Operating Officers, Chief Technology Officers, Heads of Risk Management, and Heads of Operations and discuss the how the industry has changed over the past two years. The result: 100 female leaders in investment management gathered to network and to hear Cynthia Steer, Chief Strategist of Rogerscasey, Marianne Brown, CEO of Omgeo, Liz Philipp, head of the NY office for PIMCO and Annie Morris, Head of Linedata’s North American Business weigh in on the predicted trends for the industry.
The panel represented a 360-degree view of industry issues from front office to back office and how the “New Normal” means that operational risk is now a primary concern for business leaders who want to continue to compete in 2010 and beyond. Inspired by thought provoking questions posed by moderator Holly Miller of Stone House Consulting, the panelists first addressed the issue of operational due diligence, emphasizing the importance of having a corporate culture which supports a consistent due diligence effort.
“There has been a revolution over the last two years,” said Steer, “[People are recognizing that] you need to read your prospectuses; you need to ‘do’ back office.”