Capital Allocators – Inside the Institutional Investment Industry CIO Transition – Roz Hewsenian and Joshua Fenton, Helmsley Trust (EP.401)
Aug 19, 2024
Roz Hewsenian, former CIO of the Helmsley Trust, and Joshua Fenton, the new CIO, share insights from their successful leadership transition. They discuss Roz's well-planned retirement strategy and the importance of preparing a successor well in advance. Joshua recounts the conversations and changes that shaped his new role. They emphasize lessons on succession planning, mentorship, and the value of diverse team dynamics in investment management, providing practical takeaways for future transitions in the industry.
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Gradual Exposure
- Gradually expose team members to leadership tasks.
- Delegate responsibilities to help them develop their skills and prepare for future roles.
Open Communication
- Communicate openly and honestly with your team during transitions.
- Create a safe space for feedback and concerns to ensure a smooth process.
Early Retirement Reveal
- Roz Hewsenian's retirement announcement was prompted by a trustee's question during a market downturn.
- She had planned to announce later, but the trustee's concern about her leaving led to an early reveal.