"One dilemma such firms face: How do you maintain a consistent company culture in the face of a growth spurt? The answer, says Philippe Jordan, president of French hedge fund giant : You don't. Culture is often mythologized, but, in Jordan's view, it is the simple byproduct of past shared experiences at its core, and he warns against the impulse to lionize "the good old days." "Nostalgia turns a culture into an artifact, and our culture is dynamic," Jordan told Business Insider in an interview."
"The 35-year-old firm doesn't fit neatly into the hedge-fund typology, rejecting many of the norms that have come to define the industry. CFM has no larger-than-life founder that reigns supreme; instead, it's governed by a five-member board. It doesn't hire armies of independent portfolio managers. Unlike most of its quant brethren, it isn't obsessed with secrecy. And it doesn't espouse a ruthless, zero-sum mentality."
Company culture cannot be deliberately maintained during rapid expansion; culture primarily emerges as a byproduct of past shared experiences and evolves rather than remaining fixed. Nostalgia can fossilize culture into an artifact and should be avoided. CFM experienced rapid asset growth to $21 billion and expanded head count from 260 to nearly 450, with the New York office doubling to 40 staff. The firm rejects typical hedge-fund norms, operating without a dominant founder and governed by a five-member board. CFM emphasizes collaboration, open communication, cross-disciplinary curiosity, and rejects secrecy and zero-sum mindsets common in the industry.
Read at Business Insider
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