The Highs and Lows of Spin-Outs and Start-Ups
It’s a dream shared by multitudes of entrepreneurial-minded asset management professionals at large firms: breaking away, starting their own firms, doing things their way without being shackled by corporate bureaucracy. A fair number of these dreamers take the plunge and head off on their own—and a small number of them actually become successful independent managers.
The odds for success may be relatively long, but that doesn’t stop people from trying. In the past several years, individuals or teams from Wells Capital Management, Invesco, Janus CapitalGroup, Lord Abbett, Tradewinds Global Investors and numerous others have left their firms to blaze their own trail. Success, they warn, will likely only come if the new venture is launched the right way.