Formula to Success: Innovation and Client Focus with Todd Myers

In the latest Rainmaker Podcast episode, host Gui Costin interviews Todd Myers, the Chief Operating Officer of Private Wealth Solutions at Blackstone. The discussion covers Todd’s impressive career, which spans from his beginnings in investment banking to strategic roles at Merrill Lynch, and ultimately to his position at Blackstone. Todd highlights the importance of discipline, analytical thinking, and client engagement, which have been pivotal throughout his career.

Todd provides insights into Blackstone's success, attributing it to a culture of entrepreneurship and innovation instilled by founders Steve Schwarzman and Pete Peterson. Blackstone’s consistent investment process and team-oriented approach are key to its growth.

A major focus of the conversation is Blackstone’s Private Wealth Solutions. Launched a decade ago, the private wealth channel now represents approximately a quarter of Blackstone’s $1 trillion in assets under management across Blackstone funds through March 31, 2024. Todd explains that educating financial advisors about alternative investments is crucial. This education helps advisors integrate these investments into client portfolios.

Client-centricity is at the heart of Blackstone’s operations. Todd stresses the importance of understanding and performing for both institutional and individual clients. The firm continuously innovates by creating new products and expanding into new asset classes and geographies to meet evolving client needs.

Communication and data utilization are essential to Blackstone’s success. Todd describes the firm’s structured communication practices, which include regular meetings to ensure alignment among geographically dispersed teams. Blackstone also leverages CRM tools to enhance client engagement and operational efficiency through integrated data intelligence.

Todd’s leadership philosophy emphasizes respect, dignity, and empowering team members. He believes in fostering an environment where ideas win over hierarchy, promoting open debate and valuing every team member’s input. Todd advises young professionals to work hard, stay curious, and seek mentorship to thrive in the financial industry.