This week’s edition looks at how leadership teams are reshaping strategy and structure under pressure from markets, politics, and talent dynamics. You will see why Renault tapped an experienced operator to steer Dacia through a competitive cycle, how BlackRock is pressing state officials to keep pension investing focused on fiduciary duty, and why Milan is pulling finance leaders with tax incentives even as global fundraising cools. We also cover a surge in asset management dealmaking that points to a scale and capability race, plus a rapid flattening of corporate org charts that is changing how managers lead.
Across these stories, the through line is discipline with clarity. Boards and executives are sharpening decision rights, simplifying structures, and aligning incentives so that strategy can move faster without losing accountability. The common challenge is execution. Firms that pair candid communication with practical support for leaders on the front line will retain talent and convert plans into results.
Renault hires ex Mercedes executive to lead Dacia
Renault appointed former Mercedes-Benz executive Katrin Adt as managing director of Dacia to refresh leadership in a period of intensified competition and shifting demand. Adt brings deep retail and brand experience, including time running Smart and overseeing Mercedes retail in Europe. In parallel, Fabrice Cambolive moves to chief growth officer to sharpen strategic direction across the portfolio. CEO François Provost said the changes will accelerate customer engagement and faster decision making at Dacia. The reorganization follows a profit warning earlier this year and signals a push for execution and speed.
Source: Reuters
BlackRock warns against politicization of pension fund management
BlackRock issued a memo to 43 state officials urging them to keep public pension management free from political agendas. The firm reiterated that fiduciary duty to beneficiaries must guide investment decisions and noted that politicization could harm returns. The message responds to critiques from both sides of the aisle, including climate focused demands and pushback on ESG. BlackRock also highlighted a recent decline in its support for environmental and social proposals as evidence of a returns first posture. The intent is to lower the temperature and keep investment policy grounded in risk and performance.
Source: Reuters
Milan emerges as a financial hub amid asset management slump
Milan is attracting high earners with flat taxes on foreign income and favorable inheritance rules, drawing more than 100,000 relocations. The influx has driven property prices higher and sparked local tensions, including corruption probes tied to rapid growth. At the same time, global private equity fundraising fell to a seven year low of about 592 billion dollars through June as higher borrowing costs and exit challenges bit into activity. The combination creates a paradox. Talent flows toward tax advantaged hubs even as capital formation slows. For leaders, the takeaway is to plan for uneven regional growth and shifting cost of capital.
Source: Financial Times
Asset management M&A hits highest level since 2014
Dealmaking in asset management reached more than 50.8 billion dollars in the first seven months of 2025, up 76 percent year on year and the strongest total since 2014. Rising costs, new rules, technology disruption, and changing investor preferences are pushing firms to consolidate for scale and capability. Notable moves include a joint venture between Natixis and Generali, an M&G partnership with Dai ichi Life, and Nomura’s acquisition of Macquarie’s US and European operations. L&G and Man Group are expanding in private markets to diversify fee pools. The pattern points to a build or join logic where distribution strength and product breadth win.
Source: FN London
Management layers vanish as corporate spans stretch
Manager to employee ratios have widened from about one to five in 2017 to roughly one to fifteen in 2023 as companies flatten structures. Firms such as Google, Amazon, Intel, and Estée Lauder have trimmed middle management to cut costs and boost speed. Surviving managers now lead larger teams with less time for coaching, which means employees must surface achievements more proactively. Leaders will need clearer priorities, better tooling, and repeatable rituals to keep morale and performance high. Organizations say they may recalibrate if spans become unmanageable, but for now the bias is toward leaner layers.
Source: The Wall Street Journal
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