Masters in Business: Jack Rivkin
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.
Next week, we speak with Robert Shiller, a Yale University professor of economics and Nobel Prize laureate.
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Barry L Ritholtz at firstname.lastname@example.org