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The father of pension fund management shares essential lessonsto building a business
As the world's leading pension fund consultant, George Russell'sadvice has been sought by many of America's largest corporations. Apioneer in this business since the late 1960s, Russell has seen alot. Now, he shares his experiences in this field with you, andprovides valuable insights into what it takes to succeed inbusiness today.
Broken down into ten chapters, Success by Ten describessignificant moments in the origins and development of pension fundconsulting and the institutional investment industry. This historyis intertwined with Russell's own personal story and theinnovations that his company introduced to the industry.
- Author George Russell is well known to many throughout theinvestment industry as the first pension fund consultant
- Each chapter represents a business lesson that Russell haslearned during his career
- Outlines a people-centric approach to building a successfulcorporate culture
Taken together, the innovations outlined throughout these pagesspurred the professionalization of pension fund management, withthe potential benefit of improving financial security for everyonewho is investing for retirement. In Success By Ten, Russelldiscusses the development of these innovations and reveals how youcan apply them to build a better business.
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About the Author
George F. Russell Jr. pioneered the business of pension fundconsulting in the late 1960s and was named in 1993 as one of thefour most influential people in the world of institutionalinvesting. He is the creator of the Russell 2000 Index and thevisionary behind Frank Russell Company, one of the world's leadinginvestment management and advisory firms, with offices in financialcenters worldwide. George Russell received the Lillywhite Awardfrom the Employee Benefits Research Council for outstandinglifetime contributions to enhancing Americans' economic security in1998, the CFA Institute's Thomas L. Hansberger Leadership in GlobalInvesting Award in 2008, and the Woodrow Wilson Award for PublicService in 2009.
Michael Sheldon worked at Frank Russell Company from 1993to 1999, writing marketing materials and helping George Russelldraft articles and client communications. He cofounded XMediaCommunications in 1999 to provide marketing, copywriting, creativecontent, and strategy to a diverse clientele.
Table of Contents
Chapter 1 Non-Negotiable Integrity.
Reach for the Summit.
Our Business is Based on Trust.
Integrity is More Important than the Bottom Line.
Do the Right Thing.
Integrity Cannot Be Negotiable.
Chapter 2 Persistence, Patience, and Cold Calls.
Early Days at Frank Russell Company.
Building a Retail Sales Operation.
Harvard to the Rescue.
The Cold Call.
Paul Kaltinick’s Perspective.
A Unique Selling Proposition.
Evolving the Business Model.
Top 40 Hits: 1970–1974.
Minimal Debt; Reinvest.
Chapter 3 Hire People Smarter Than You Are.
The Need for Innovation in Pension Fund Management.
Peter Dietz and His Method of Performance Measurement.
Helane Grill, Madelyn Smith, and Joan Sobba—The ThreeMusketeers of Manager Research.
Creating a Universe.
A New Process for a New Industry.
Madelyn Smith Shows Her Style.
Russ Fogler—Pioneer of Asset Allocation.
Duncan Smith Asks the Tough Questions—and AnswersThem.
Don Ezra Defines the Right Way to Be a Fiduciary.
The Best Investment I Ever Made.
Chapter 4 Be Creative.
The Treasurer’s Club: They’re Not LaughingAnymore.
Blake Eagle Puts Real Estate on the Map.
Our Battle to Exceed Client Expectations.
A Funny Thing Happened on May 1, 1980.
The Only Difference is the Zeros.
Making It Fly.
From Wall Street to Main Street.
Chapter 5 Work Hard.
Setting the Tone.
The 120 Percent People.
Work is Only a Means to an End.
Incentives that Worked.
Growth and Change.
Chapter 6 Share Credit.
Getting Rid of Titles.
Stars of the Investment Industry.
The A Team.
Our Biggest Mistake.
Plenty to Celebrate.
Chapter 7 Recognize Luck.
Are You a Decision Maker?
The Decision Factory.
Kelly Haughton Builds a Better Benchmark.
GM Starts with a Clean Slate.
Crossing the Threshold.
Testing the Concept.
How Much is Luck and How Much is Skill?
A Grammatical Postscript.
Chapter 8 Plan Transitions.
Hire and Train Your Replacement.
The Apprenticeship of Michael Phillips.
Mike Takes the Helm.
Continuity of Culture.
Selling the Company.
Closing the Deal—Complementary Skills.
Chapter 9 Take Risks.
The Inspiration of John Mroz.
The Opportunity of a Lifetime.
Russell’s Venture in Alternative Investing.
Asset Allocation is Rocket Science.
The Final Frontier?
Chapter 10 Have Fun.
Fun in the Himalayas.
The Russell Sabbatical Program.
Fun at Work.
Transition to Philanthropy.
New Adventures: Russian Puppets and Nuclear Waste.
The National Bureau of Asian Research.
The Pacific Health Summit.
The Business Humanitarian Forum.
One Nation Brings Together Americans of Different Faiths.
A Child’s Right.
About the Authors.