Nagaswami's Confession

http://www.futureofcapitalism.com/2010/08/nagaswamis-confession

The Wall Street Journal quotes Ranji H. Nagaswami, who in February 2009 left the post of chief investment officer at AllianceBernstein and will take over as chief investment adviser to Mayor Bloomberg's appointees on the city's pension funds, as saying, "Governments have been my most important clients in my 23-plus years" in the workforce.

Maybe the quote is out of context somehow, but, if accurate, Ii's the sort of comment that must be causing cringing over at AllianceBernstein and salivating at the firm's competitors. How is a comment like that supposed to make AllianceBernstein's many corporate and individual, non-governmental clients feel? If you are in the investment mangement business, or any business, for that matter, isn't part of the trick making sure that all the clients feel important?

by Ira Stoll  |  Aug 2, 2010 at 11:19 am Related Topics:  New York, Press, State-pension-fund capitalism receive the latest by email: subscribe to the free futureofcapitalism.com mailing list