There has been a bit of ‘musical chairs’ in several asset management and private banking firms this year, with some top management changes within the big players in the market. Experiencing a transition of managers can be quite a stressful time. When your boss leaves, you might be concerned about things such as:

• Job security
• Work chemistry with your new boss
• Hierarchical changes
• Verbal promise with your boss no longer valid
• Building trust with your new boss
• Culture of the firm may change.

If you suspect, or have been told that your boss is leaving the company, I would advise you to be ‘alert but not alarmed’. Here are some of my top tips for managing this type of situation:

• Consider your position – will you be in line for promotion? If so, start preparing your case to ‘win’ the role. Set aside some time to think about your achievements (especially those that are quantifiable), as well as your goals and ideas for the future. You may want to discuss these with a contact you trust, either internal or external to the company.
• If you have a good relationship with your boss, he or she may invite you to join them at their new business. This could be an exciting prospect for you to consider but be careful; this type of career move might contravene the terms and conditions of your employment so be sure to check your contract.
• Ensure your CV is up to date (this is a good idea regardless of what your boss is doing!).
• Explore the market – get in touch with a recruitment consultant to discuss what opportunities there are in the marketplace. Your recruiter should be able to coach you through your current situation, as well as outlining other potential career moves.

asset management, boss quits, Career advice, hierarchical changes, job promotion, job security, private banking, work chemistry