The European asset management industry has long relied on performance rankings, net inflows and asset growth as primary indicators of success. Christian Haas and Arnaud Tesson of Eleway, a leadership specialist for asset managers, argue these metrics are backward-looking and fail to explain why some firms thrive over the long term.
The newly launched Leadership Alpha Award seeks to address this gap by assessing leadership quality and institutional resilience rather than just quantitative results. The award’s organizers emphasize the importance of sustainable impact, noting that a strong CEO should leave behind a robust organizational culture, better-trained managers, a clear strategic direction and a business capable of performing without constant oversight.
"A truly good CEO leaves a lasting foundation: a strong culture, better leaders, a clear strategic direction and an organization that remains successful even without their constant presence," Haas said. The initiative highlights the distinction between personal success and institutional value, stressing that durable performance depends on knowledge sharing, open risk discussions and systematic development of the next generation of leaders.
The challenge of distinguishing skill from market conditions is particularly acute in asset management, where outperformance may stem from either superior investment processes or favorable market phases. The Leadership Alpha Award will not merely replicate existing performance rankings. Instead, it will evaluate whether a CEO has created an environment where sound decisions are systematically more likely to occur.
Consolidation in the European asset management sector adds urgency to the discussion. Mergers and acquisitions often force a trade-off between cost reductions, process standardization and the preservation of intangible assets such as distinct investment cultures, team autonomy, long-standing client relationships and brand identity. "Over-standardizing in the name of short-term cost synergies can destroy the very DNA that made the transaction attractive in the first place," Haas warned.
The award will also scrutinize strategy execution. Even when leadership and boards agree on a strategy, the entire organization may fail to understand or implement it effectively. Firms risk clinging to past success formulas even as client preferences, technologies and industry structures evolve. The jury will place significant weight on corporate culture, which Haas describes as a core operational infrastructure that shapes risk assessment, error handling and daily decision-making.
Succession planning is another critical criterion. Formal processes alone do not indicate preparedness for leadership transitions. "True succession planning is evident when responsibility, client relationships and decision-making authority are deliberately distributed well in advance," Haas said. This approach signals institutional maturity, as organizations become less dependent on individual personalities and more resilient to change.
A six-member jury of seasoned asset management and governance leaders will conduct the qualitative assessment. Members include Sheila Patel, former CEO of Goldman Sachs Asset Management International; Fiona Frick, former CEO of Unigestion; Elisabeth Stheeman, former Bank of England policymaker and Global COO of LaSalle Investment Management; Nick Ring, former CEO of Columbia Threadneedle Investments; Jonathan DeSimone, former CEO of Alcentra; and Arno Kitts, a former BlackRock and J.P. Morgan executive and current board member of the Aberdeen Group. The inaugural Leadership Alpha Award ceremony is scheduled for December 3, 2026, in London.
