A critical turning point in a career is when you begin to get calls from executive recruiters. MBA students often don’t realize that once they land at their post-MBA firms, their next placement will likely occur through an executive recruiter (especially if they go to a blue-chip company perceived as having skill identifying and developing talent). Executive recruiters are hired by companies to identify and place top talent, becoming the primary conduit through which many executive roles are accessed.

Consequently, how young executives develop and manage these relationships can influence future career options. To better understand the key mistakes junior executives make when engaging with executive recruiters, I turned to Umesh Ramakrishnan, a Co-CEO at Kingsley Gate Partners who has placed members of the boards of directors, CEOs, CFOs and other senior management positions in North and South America, Europe and Asia. Below is his insight.

Kimberly Whitler: What are the key mistakes that junior executives make when talking to ERs for the first time?

Umesh Ramakrishnan: Junior executives tend to be more cagey with information and say things like “at the appropriate time I can disclose that,” which means they haven’t yet built robust relationships with executive search firms. That is a big “tell” for an executive search consultant. The moment someone says something like that when asked about either their compensation, personal situation in terms of relocating, or achievements, the recruiter instantly knows that the candidate does not get approached often by a retained search consultant. This sends an unfortunate signal that the candidate may not yet be ready to work with executive recruiters. So, the junior executive unwittingly disqualifies him/herself by being restrictive with information that more experienced executives know is kept in confidence by a consultant.

Whitler: Is there any way that

A Regeneron executive and one of its directors sold $1 million worth of stocks two days after President Donald Trump announced he was taking their therapeutic, recent filings from the Securities and Exchange Commission reveal.



a sign on the side of a building: Regeneron Begins Human Trials Of Coronavirus Antibody Cocktail


© Michael Nagle
Regeneron Begins Human Trials Of Coronavirus Antibody Cocktail

Last Friday night, the White House announced that as part of Trump’s treatment for coronavirus, he had received Regeneron’s experimental antibody cocktail that has not passed formal trials or been approved by the Food and Drug Administration.

One day later, the president appeared in a video posted to his Twitter account about his treatment at Walter Reed National Military Medical Center.

“They gave me Regeneron,” he said, saying the company name instead of the treatment’s name, REGN-COV2. “It was like, unbelievable. I felt good immediately. I felt as good three days ago as I do now.”

At another point in the video he said that the therapeutics he was given were “miracles…we have things happening that look like they’re miracles coming down from God.”

“I think this was a blessing from God that I caught [the virus], I think it was a blessing in disguise,” Trump said in the video. “I caught it, I heard about this drug, I said, ‘Let me take it’ … and it was incredible the way it worked.”

“I call that a cure,” he said. “It’s a cure.”

After the video posted, Regeneron’s stock jumped over 3 percent in after-hours trading.

On Monday, when markets opened, Regeneron stock prices surged $33 to $598 a share. That day, Joseph Goldstein, who sits on the company’s board of directors, and SVP and Head of Commercial Marion McCourt exercised stock options that let them sell a total of 10,200 shares for a net profit of over $1 million. According to filings,

Convicted insurance executive Greg Lindberg has been ordered to report to federal prison on Oct. 20 to begin serving a sentence of more than seven years for attempted bribery of North Carolina’s elected insurance commissioner, according to a court filing.

Mr. Lindberg disclosed the date in a filing Wednesday that asked a federal judge to delay his imprisonment so he can more easily consult with his attorneys on an appeal of his conviction, and because of concerns about contracting Covid-19, the disease caused by the novel coronavirus, in prison.

Federal prosecutors previously have raised concerns that Mr. Lindberg could flee the country before his imprisonment.

“He has no ties to anyplace,” a federal prosecutor said at Mr. Lindberg’s August sentencing hearing, arguing that the defendant has access to bank accounts in 18 foreign countries and no permanent address. He also has a private jet and yacht that could allow him to flee to any of those locations, the prosecutor argued.

An attorney for Mr. Lindberg at that hearing replied that the defendant’s overseas accounts were connected to his business ventures, he had complied with all bail conditions and was wearing an ankle bracelet. There was no evidence he would flee, his attorney said.

U.S. District Judge Max O. Cogburn Jr. said at the August hearing that he would allow Mr. Lindberg to remain out on bail and could delay incarceration depending on the Covid-19 situation.

Mr. Lindberg is a self-proclaimed billionaire who bought a string of small insurers starting in 2014 and loaned $2 billion of their assets to his own enterprises. He was convicted in March on two criminal counts related to a scheme to bribe the insurance commissioner to obtain more favorable regulatory treatment for his insurers.

In the new filing, Mr. Lindberg’s attorney said the Federal Bureau

  • On Wednesday, US regulators announced $400 million in fines against Citigroup for “related to deficiencies in enterprise-wide risk management, compliance risk management, data governance, and internal controls.”
  • It’s the latest in what has been a volatile few weeks for the global bank, which announced a change in leadership in September.
  • Business Insider has previously reported on issues regulators had with Citi’s inability to fix risk, compliance, and tech systems.  
  • Visit Business Insider’s homepage for more stories.

It’s been a complicated month for Citigroup.

The third-biggest US bank by assets shocked Wall Street in September when it announced Michael Corbat, Citi’s chief executive, would be retiring in February.

Jane Fraser, the bank’s president and CEO of its consumer banking division, was named Corbat’s successor, making her the first woman to serve as the chief executive of a major US bank.

However, it wasn’t the selection of Fraser, who had been seen by many as Corbat’s eventual successor after she was promoted to president of the bank last fall, that turned heads.

Instead, it was the timing of the announcement that raised questions. Corbat was only 60, leading some to believe he would remain at the helm of Citi longer. Analysts said the timing of the announcement was surprising and unexpected. The bank was also only a few months removed from an erroneous $900 million wire. 

jane fraser

Jane Fraser, Citi’s president and CEO of its consumer banking division

Julian Restrepo/Citigroup via AP


On Wednesday, less than a month after the announcement of Corbat’s retirement, the Federal Reserve Board and Office of the Comptroller of the Currency announced $400 million in fines levied against Citi “related to deficiencies in enterprise-wide risk management, compliance risk management, data governance, and internal controls,” according to the OCC. 

In addition to the fine, Citigroup needs to check with

DETROIT, Oct. 8, 2020 /PRNewswire/ — WestCongress Insurance Holdings LLC, the parent company of WestCongress Insurance Services, a specialty insurance producer, and WestCongress Risk Services LLC, a claims administrator, today announced the appointment of Steven H. Kerr as its President and Chief Executive Officer.

Mr. Kerr’s background in the insurance marketplace spans more than 30 years, primarily with Marsh, a global leader in insurance broking and risk management. Most recently Mr. Kerr served Marsh’s Managing Director and Global Engagement Partner where he led Marsh’s largest global clients in a strategic risk consulting capacity.  Mr. Kerr also has extensive experience in wholesale and retail distribution and has led teams of producers in driving revenue growth, including serving as Marsh’s Chicago Office Head, as Growth Leader – Americas, and as CEO of Seabury and Smith, Marsh’s consumer and commercial products group.

“We are pleased to welcome Steve to the team. He is the right leader for WestCongress at this stage in our development,” Richard H. Smith, chairman of WestCongress stated. “His extensive background in specialty insurance and with excess and surplus lines distribution channels will help WestCongress strengthen its distribution relationships and expand its product offerings.”    

Mr. Kerr commented, “The WestCongress leadership team has built an excellent operation with a strong reputation in the wholesale broker community. I am pleased to join a company positioned for growth and am eager to be a part of taking WestCongress to the next level. We will be looking for every opportunity to streamline the current operation, expand product offerings, develop existing broker relationships and find new distribution channels.”

About WestCongress

WestCongress Insurance Services LLC is a specialty, surplus and excess lines insurance producer based in Detroit, Michigan. WestCongress offers primary and excess general liability insurance solutions throughout the United States for targeted