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.”

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.”

The Wall Street Journal

Bringing Workers Back to the Office, Without Masks

BCG CEO Rich Lesser talks to The Wall Street Journal about the CDC’s new guidelines, which allow vaccinated Americans to, in many cases, forgo masks and social distancing. He says BCG leaders will hold more meetings to determine the pace at which the firm should bring employees back into offices. According to Lesser, the CDC’s guidelines could “prompt more companies to ask employees to disclose whether they have been vaccinated, and it could spur workers to get vaccinated if they believe doing so will help them work without a mask.”

Axios

Bullish Investors Disregard Seemingly Bad News for the Stock Market

Axios covers a recent BCG pulse check survey of investors that gauges their impressions of the current market and their expectations for the future. Despite warning signs, more than half of respondents are bullish on the performance of the S&P 500 over the next three years. However, the survey also reveals a 10% decline in investor optimism in the index’s performance in 2022, compared with 2020. BCG’s Hady Farag explains that “the shrinking bullish contingent reflects the fact that valuations have expanded rapidly and the economic rebound is more priced in.”

Business Insider

How a Bionic Workplace Can Build a Resilient Hybrid Model

“When we come back into the world of mixing virtual and physical interaction again, companies really need to think about how they make it the best of both of those experiences,” BCG's Rich Hutchinson tells Business Insider. He and other BCGers argue that a “superhuman enterprise” can be created by combining technology with human adaptability. They outline seven steps for businesses to realize this type of workplace.

Fortune

At These Companies, AI is Already Driving Revenue Growth

In their guest column for Fortune, BCG’s François Candelon and Georgie Stokol write that “as the post-pandemic recovery takes shape, companies will have to tap into the myriad ways in which AI can boost revenues if they are to get ahead of rivals.” According to a recent survey from BCG and MIT of over 2,500 executives, only 10% of companies are generating significant increases in revenue by using AI. Candelon and Stokol outline three guidelines for realizing AI’s full potential: experimenting to refine the algorithm’s performance, creating new revenue streams using AI’s capabilities, and pushing boundaries to optimize revenues.

Forbes

What COVID Taught Us About Wellness and Why Employers Should Do Even More

In her column for Forbes, BCG’s Deborah Lovich continues her mission to convince organizations to use the COVID-19 crisis to change the way we work. Citing BCG survey data, she argues that companies need to act urgently—particularly in response to the great number of women leaving the labor force due to struggles with working from home—by focusing on employee well-being and the necessity of childcare assistance. Lovich says, “it’s time for [companies] to recognize that they should have been doing this all along and look for ways to step it up even further.”

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