Masters in Business: Jack Rivkin

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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In this week’s “Masters in Business” podcast, I speak with Jack Rivkin, former head of research at Lehman Brothers, former chief investment officer at Neuberger Berman and now CIO at Altegris.

Rivkin tells the story of joining Lehman Brothers when its equity research department was ranked dead-last in the institutional investor rankings. Within three years, he took the company from worst to first in those rankings, which include metrics such as client approval, revenue and influence. The results were so startling that Lehman Brothers became the subject of a Harvard Business School case study. The methods Rivkin used -- tracking precise metrics, diverse hiring, cross promotion and offsite retreats -- have become fairly standard today but were unusual for their time.

For his success, Rivkin was fired by Dick Fuld, the chief executive officer. Several years later as CIO of Neuberger Berman, Rivkin was reunited with Fuld when Lehman acquired Neuberger.

You can download the podcast here or on iTunes, or stream it at SoundCloud. All of our prior podcasts are available on Apple iTunes.

Next week, we speak with Robert Shiller, a Yale University professor of economics and Nobel Prize laureate.

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Barry L Ritholtz at britholtz3@bloomberg.net