During these unprecedented times, the FWA Distinguished Speakers Committee was privileged to offer the insightful and timely event: “Leading the Firm Through Volatile Markets,” with Daria Foster, Lord Abbett Managing Partner. Ms. Foster discussed what it means to lead a private company in today’s challenging environment. In an interactive session, hosted elegantly at the New York Athletic Club, nearly 100 FWA members and guests enjoyed an hour-long interview format. Jyoti Bhagavan, Co-Chair of the FWA’s Distinguished Speakers Committee, interviewed Ms. Foster, covering a range of topics--from motivating employees to keeping focused during such turbulent financial markets.
For Lord Abbett, Ms. Foster said, it has been a matter of staying focused on the needs of clients and on the firm’s core capabilities. It also has been a time when regular communication—to employees, to financial advisors, and to investors, which is always important—has become paramount. Certainly, she continued, it is an environment that is testing the capabilities of every CEO in the financial services industry. Difficult markets test any organization, she said, but having a strong corporate culture can keep one grounded. Ms. Foster explained the value she places on the firm’s independence, partnership structure, singular focus on the management of money, and culture of teamwork—all of which she says keeps the firm strong as an organization.
Ms. Foster also noted that the origins of the current volatility are many and varied. She noted, however, that there is no single factor that can be held culpable alone--rather, the turmoil has been the result of a confluence of factors causing a “perfect storm.” She also offered words of advice for today’s investors: stay invested, if you don’t need the money right away. She stressed, it is time in the market, not market timing, that matters over the long term.
Distinguished Speaker Daria Foster, flanked by
FWA President Kristin McDonough (r) and Jyoti Bhagavan (l)
Kimberly Williams Weinrick
Lord Abbett
