The National
Assets Under Management in the Middle East Reach $1.2 Trillion in 2020
BCG’s Harold Haddad told The National that the asset management industry’s resilience was tested last year, but it prevailed in the face of adversity and entered 2021 in a position of strength. One reason for the industry’s success was the growth in assets under management in the Middle East and Africa, which rose 12% in 2020, according to a recent BCG report.
Australian Financial Review
Global Assets Under Management Surpass $100 Trillion
The Australian Financial Review highlights the findings of a new report from BCG, which determined that global assets under management rose 11% in 2020 to reach $103 trillion. Despite this significant growth, fund managers only saw a 1% increase in profits. BCG’s Koen Alfrink explains that “there’s a higher pressure on margins that will continue into the future.”
Harvard Business Review
The Green Economy Has a Resource-Scarcity Problem
BCG’s Dave Young, Rich Hutchinson, and Martin Reeves write about the future of the green economy for Harvard Business Review. As corporations make larger commitments to reduce their environmental impact, there is increased demand for sustainable resources such as recycled plastics, battery inputs, green hydrogen, and sustainable cotton. Young, Harrison, and Reeves identify the long-term steps companies can take to secure these increasingly scarce resources.
Forbes
How to Talk to Your Skeptical Boss About Flexible Work
In her column for Forbes, BCG’s Deborah Lovich discusses ways to extend the benefits of working from home when offices reopen. Lovich suggests five points employees can raise with leadership to help maintain flexibility and autonomy in this new hybrid environment. In order to determine how best to adapt to new ways of working, Lovich writes, “we’ll need to experiment to shape the future of work we want to be a part of.”
Bloomberg Radio
BCG’s CEO on “The Great Resignation”
BCG’s CEO Rich Lesser joins Bloomberg Radio to discuss the troubling drop in the US labor force participation rate and gives his take on some of the possible causes, including disruptions from COVID-19 and the ongoing issue of childcare for working parents. Lesser calls the pandemic “a gigantic forced experiment” that has required companies and employees to rethink the ways they want to work, citing improvements in technology, agility, and flexibility that will have long-term effects on the workforce. “We’re seeing major change—years of change—compressed into this pandemic period about the nature of work in this country and around the world,” says Lesser.
Forbes
Rich Lesser, “CEO Whisperer,” on How Challenges Lead to Change
The Wall Street Journal profiles BCG CEO Rich Lesser as he nears the end of his nine-year tenure leading the firm. Lesser discusses his role as chief executive during a time of major transformation for BCG and the world and offers his thoughts on how leaders can avoid the “CEO bubble.” He also shares his advice for young consultants.
Forbes
The Future of Work Is Happening Now
In her column for Forbes, BCG’s Deborah Lovich advises business leaders on how to manage potential pushback when reopening offices. As COVID-19 has changed leadership structures and habits, Lovich says, “the time to listen to and involve employees in shaping the future of work is now.” She gives guidance on how leaders should commit to helping employees learn to work in new ways.
Yahoo! Finance
The Postpandemic Rebound for Business Travel
BCG’s Jason Guggenheim joins Yahoo! Finance Live to discuss how the changing landscape of travel will affect businesses in the coming years. He predicts business travel will return slowly and with structural changes, likely falling as much as 15% from 2019’s levels. Guggenheim references a BCG study looking at the factors that will influence the postpandemic rebound for business travel, including sustainability, efficiency, and the value of human interaction.
Forbes
BCG CEO Rich Lesser Named Top CEO Among Large US Companies by Glassdoor
Forbes reports that BCG CEO Rich Lesser was named the top CEO in 2021 among large US-based companies, thanks to a 99% approval rating from BCG employees. Glassdoor's Employees’ Choice Awards, based on the anonymous input of employees about their leaders and work environments, honors the top-ranking CEOs across North America and parts of Europe.
Financial Times and Forbes
World Financial Wealth Will Grow to Half a Quadrillion Dollars
BCG’s Anna Zakrzewski talks to the Financial Times and Forbes about BCG’s Global Wealth Report 2021: When Clients Take the Lead. The report predicts that wealthy countries, specifically in North America and Asia, will drive the global stock of financial wealth from $250 trillion to $315 trillion in the next five years. In the firm’s report, Zakrzewski urges wealth managers to differentiate clients “by their needs and to use behavioral insights to unlock new sources of value.”
Forbes
Getting Rid of Meetings in Four Steps
In her column for Forbes, BCG’s Deborah Lovich suggests that while pandemic-triggered lockdowns showed the benefits of remote meetings—they also revealed what we are missing from in-person interactions. Lovich proposes five steps for establishing effective and efficient meetings going forward.
The Jakarta Post
Indonesia’s Power Ecosystem Presents Opportunities for Rooftop Solar
BCG’s Alex Dolya and Marko Lackovic write for The Jakarta Post about record-breaking renewable energy expansion in Indonesia and Southeast Asia, and the immense economic and environmental opportunities this has for the region. Dolya and Lackovic say “successfully navigating that landscape will deliver remarkable opportunities for power industry operators and consumers alike.”
Harvard Business Review
Why Imagination Is Critical for Innovation
BCG’s Martin Reeves joins Harvard Business Review’s IdeaCast podcast to discuss how to encourage imagination at work. Reeves’ research on successful organizational transformations suggests that imagination is often the missing link in the process of innovation. The Imagination Machine: How to Spark New Ideas and Create Your Company’s Future is his latest book, coauthored with BCG alumnus Jack Fuller.
Hindustan Times
The Priority Sector Lending India Needs
BCG’s Janmejaya Sinha and Ruchin Goyal write in the Hindustan Times about how the pandemic has highlighted the importance of health and education infrastructure, digital access, and securing financing opportunities for vulnerable populations. Sinha and Goyal say India owes it to those lost to COVID-19 to provide citizens with “minimum access to the basic social infrastructure needed for living.”
The Wall Street Journal
Christoph Schweizer Elected BCG’s Next CEO
The Wall Street Journal announces that BCG’s Christoph Schweizer has been elected the firm’s next CEO, effective October 1, 2021. After nearly nine years as leader, Rich Lesser will step down and transition to BCG’s global chair. Schweizer shares his vision “to support clients and global leaders in their moments of truth and in solving their most important and complex problems, to attract and champion diverse talent, and to tackle the world’s toughest challenges, such as climate change.”
