Masters in Business Transforming ETFs with Bryon Lake of Goldman Sachs Asset Management
21 snips
Jun 5, 2025 
Byron Lake, Chief Transformation Officer for Goldman Sachs Asset Management, shares his journey from office manager to a leading voice in the ETF industry. He discusses the evolution of ETFs and the urgent need for innovation in asset management. Byron highlights cultural dynamics between European and U.S. finance, and emphasizes the balance between active and passive investment strategies. He also notes the importance of a people-focused approach in investing, showcasing how relationships and tailored strategies drive success in today's market.
AI Snips
Chapters
Books
Transcript
Episode notes
Early ETF Career Start
- Byron Lake got introduced to the ETF industry by Bruce Bond at PowerShares, a then-small startup ETF company.
- His personal connection to a girl in Chicago ultimately led him to join and grow with PowerShares from $100 billion industry size to trillions today.
ETF Innovation and Skepticism
- PowerShares innovated with non-market cap weighted ETFs, now called Smart Beta and Thematic ETFs.
- ETFs were initially met with skepticism, but this disruption changed how investment products are delivered.
Embrace Disruption or Die
- Companies must disrupt themselves to avoid irrelevance, even if it means cannibalizing existing products.
- Byron quotes, "If you don't like change, you'll like irrelevance even less."
