Marylin L. Prince & Joseph B. Goldsmith
Partners, PrinceGoldsmith LLC, New York
Even a grudging competitor describes New York-based PrinceGoldsmith LLC as “the leading boutique asset management recruiter.”
CEOs often gravitate to working with one or the other of the firm's two principals, Marylin L. Prince or Joseph B. Goldsmith, but the pair have been inseparable working partners since establishing the firm in 2000. In conversation, they tend to finish each other's sentences, but often offer very different perspectives on the same industry development.
“PrinceGoldsmith are the crème de la crème of the asset management business. They're the best. They know everybody, know everything that moves. When it moves, they know it first,” said Gary D. Black, CEO of Janus Capital Corp., Denver.
Among the firm's high-profile searches are CIO placements for Harvard Management Co., the David and Lucille Packard Foundation, Blackstone Alternative Asset Management LP and MacKay Shields LLC.
Vikram Pandit, PrinceGoldsmith's successful candidate for chairman and CEO of Citigroup's institutional client group, stepped up to become CEO and chairman of the entire banking behemoth when Charles Prince resigned in December.
Ms. Prince began her career as a banker and was persuaded by a friend to move into executive recruiting. Her master's degree in consulting psychology has proven a useful asset in her 20-year recruitment career in gauging a candidate's suitability for a position.
“In our firm, there are two genders, two generations. I think that really helps by bringing a different perspective to finding the right people for clients,” Ms. Prince said. The two partners' ability to keep information confidential also helps. “We are keepers of secrets,” she explained.
Mr. Goldsmith was a fixed-income portfolio manager who aspired to a more senior job than his then-employer was likely to give him. The headhunter he contacted tentatively about a change in jobs ended up recruiting him.
“When you grow up in money management, you don't really think about becoming a recruiter. But I was always interested in the relationship side of the business and, against the advice of my family and friends, I made the jump 10 years ago,” Mr. Goldsmith said.
“Joe has unique insight into the asset management business and a great strategic mind. As a former portfolio manager, he really understands the skills that are needed in candidates. He's also an incredibly good guy,” said George H. Walker, global head of investment management and managing director at Lehman Brothers Holdings Inc., New York. “But he's also absolutely relentless,” Mr. Walker said, noting he's had more than 20 years to observe this character trait in Mr. Goldsmith; they were schoolmates.
Final words: “Fist-pumping moments happen a lot to me. Our business is emotionally volatile. There are no easy, linear processes for filling these jobs, even for lower level positions,” Mr. Goldsmith said.
