After taking a year off to spend with his family, James Kartalia, former managing director and head of marketing and administration for ANB Investment Management & Trust Co., Chicago, is re-entering the business.
This time he is forming a firm to provide strategic consulting to money managers. Mr. Kartalia said Asset Partners Group Inc., Naperville, Ill., will consult on long-range issues only, rather than more immediate concerns like improving client prospecting or polishing marketing materials.
"APG is pursuing clients that want BMG - beyond market growth," he said.
APG's "primary business mission is to help institutional managers grow their assets and revenue. If you remove market appreciation, there are not many managers that are successful at growing their business, consistently year-in and year-out. There's a market for APG, depending on the number of money managers that truly want to grow their business. The surprising fact is many managers are more than happy just to keep even with market appreciation growth."
Money management executives become so wrapped up in running the business day to day they don't have the time or resources to devote to long-range planning, he said. The investment business is so dynamic, he said, managers need to take time to reflect. His firm would counsel them on strategic development.
Mr. Kartalia expects APG to start seeking clients by the end of February.