The glass is half full
 Neil Brown
Alumni
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"Crisis is a time to find great talent around you."
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MBS Alumnus Neil Brown's reflections and lessons from the global financial crisis.
‘From adversity comes opportunity' - or at least that is what I'd always been told as I grew up. The last few years in financial services has certainly been about adversity, and as I lay out below, also about opportunity.
I had lived in New York and worked on Wall Street for almost a decade, including a two-year stint in London to round out my finance education. In that time I had a wonderful time being in the centre of the financial ‘universe' in both New York and London.
I had been working for Citigroup for a number of years, but in 2007 amidst more management change above me, I began to look at what I really wanted from a role - to work with people I respected, I trusted, and from whom I could learn.
I was offered a role that seemed to satisfy my requirements - a role at Allco Finance Group as Head of Capital Markets (later expanded to include Funds Management) back in Sydney. As Allco hit its own troubles, it surprised me that I could still satisfy what was important to me, even in the midst of the GFC. I had chosen a role that allowed me to work with a number of people that I respected, I trusted, and from whom I could learn. For a number of folks around me, that shone through as things deteriorated at Allco. Folks have asked me whether I regret joining Allco, and my resounding answer is always "No".
I now find myself as a co-founder of a new business (Minerva Capital Advisors) with several partners who I have met during my journey through New York, London and Sydney - all of whom I respect, trust and can learn from. We are a close-knit team, despite being spread between Sydney, London and New York.
That is probably the best lesson that I have - decide what you want from your career and then actively seek it out, and never underestimate the importance of culture when choosing an opportunity.
The GFC will provide opportunities to re-evaluate your career and life - start with defining what is most important to you... and remember the following (more practical) guides to dealing with the financial crisis (Neil's 10 lessons):
- There is no such thing as liquidity when you really need it - plan for stressed situations before they occur
- Incentives drive behaviour, so don't be surprised at outcomes where the incentive structure is skewed
- Be skeptical but not indecisive - acting early and with force can help
- Crisis is a time to find great talent around you
- Be humble, even when others aren't
- Don't be afraid to tell others how you can help them
- Don't be afraid to let others tell you how they can help you
- Seek advice from non-traditional sources - your clients, your subordinates, your mother-in-law... well, you get the picture
- Think before you act, but don't confuse thinking with action
- Have fun
Neil is a Co-founder and Principal of Minerva Capital Advisors, a boutique financial advisory firm based in New York, London and Sydney. He is a member of the Alumni Advisory Council (AAC) and completed his MBA with Melbourne Business School in 1996.
If you would like to contact Neil, you can email him on brownn@mac.com
