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Financial Darwinism: Create Value or Self-Destruct in a World of Risk.

New Book by Leo Tilman Urges Financial Institutions to Adapt or Face Extinction

NEW YORK -- In his latest book, Leo Tilman - President of strategic advisory firm L.M. Tilman & Co, finance faculty member at Columbia University, and former Chief Institutional Strategist at Bear Stearns - explores the origins, drivers, and implications of the ongoing tectonic financial shift, explaining that the 2007-2008 financial crisis is a culmination of profound evolutionary changes.

Financial Darwinism: Create Value or Self-Destruct in a World of Risk (Wiley; November 2008; starts with an evolutionary thesis: economic value creation in finance has undergone a fundamental transformation where active risk-taking has become a dominant factor in how financial institutions create (and destroy) shareholder value. It then introduces an actionable decision-making framework to help financial institutions continuously evolve amidst genuine complexity and uncertainty in order to survive and remain competitive.

Called "the man who predicted this crisis" by CNN International, Tilman shows why the demise of the old financial regime was inevitable and why success of executive, regulatory, public policy, and investment endeavors requires a radically new way of thinking and making decisions.

"This book is about change, and change is always difficult, indeed wrenching: institutions must be redesigned; outdated paradigms discarded; and corporate cultures redefined in the process," writes Tilman in the Preface to Financial Darwinism. "However, the alternative--the Darwinian failure to evolve--is far more painful. This is when capital markets, clients, and counterparties beat you to the punch and make difficult choices for you, setting in motion self-fulfilling prophesies that often lead to financial ruin."

David M. Rubenstein, Co-Founder and Managing Director of The Carlyle Group, endorses the book's timeliness: "Financial Darwinism explains the tectonic shifts now underway in the investment world far better than any book I have seen to date. Those who are interested in really understanding how financial markets have dramatically changed in the past few years - and how they are likely to change again in the next few years - would do well to read and absorb this important work by Leo Tilman."

Financial Darwinism is an invaluable road map to the new financial order and an essential guide to adapting and succeeding in it. It will help financial institutions and investors worldwide create a lasting economic value amidst complex, uncertain, and constantly evolving market environments.

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About the author:

Leo M. Tilman is President of L.M. Tilman & Co., a strategic advisory firm that serves governments, financial institutions, corporations, and institutional investors worldwide. Prior to founding the firm, Mr. Tilman held senior positions with BlackRock and Bear Stearns where he was Chief Institutional Strategist and Senior Managing Director. Tilman teaches finance at Columbia University--his graduate as well as undergraduate alma mater. He is co-author of The Risk Paradigm (forthcoming from Oxford, 2009) and Risk Management (Wiley, 2000), editor of Asset/Liability Management of Financial Institutions (Institutional Investor, 2003), and contributing editor of The Journal of Risk Finance. He serves on the advisory board of the Center on Capitalism and Society at Columbia University and on the board of directors of Atlantic Partnership. Mr. Tilman was honored by the World Economic Forum as a Young Global Leader, joining a select group of executives, public figures and intellectuals recognized for their professional accomplishments, commitment to society and potential to contribute to shaping the future of the world.
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Publication:Business Wire
Date:Nov 10, 2008
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