Building Management System Expert Tom Grimard Joins Syska Hennessy Group’s New York Office – Yahoo Finance
Fink said the firm is attracting new money from clients in October, after the departure of Pacific Investment Management Co.s co-founder Bill Gross prompted investors to reallocate cash. I cant speak about the next six to eight weeks, or ten weeks, but in first few weeks weve seen flows, Fink said today in a telephone interview. The New York-based firm has been benefiting from its team approach as well as improved performance in its fixed-income funds, Fink said. BlackRock, the worlds biggest money manager, reported third-quarter profit today that rose 26 percent as investors added cash to its funds, boosting fees. The firms bond ETFs have also benefited since Sept. 26 as investors reallocated cash from Pimco after Grosss abrupt exit. Net income increased to $917 million, or $5.37 a share, from $730 million, or $4.21, a year earlier, the company said in a statement today. Excluding certain items, adjusted earnings of $5.21 a share beat the $4.66 average of 19 analysts surveyed by Bloomberg. BlackRock should benefit from higher organic growth outlook resulting from potential Bill Gross related attrition at key peer Pimco, according to William Katz , a stock analyst focused on brokers and asset managers at Citigroup Inc. who has a neutral rating on the shares. Higher Growth BlackRock shares fell 0.8 percent to $304.40 at 9:34 a.m. in New York. The shares declined 3.1 percent this year through yesterday, compared with the 5.4 percent decrease in the Standard & Poors 18-company index of asset managers and custody banks. Revenue rose 15 percent from a year earlier to $2.9 billion, as fees for managing investor funds rose along with assets. Assets at BlackRock increased 10 percent from a year earlier to $4.52 trillion. They fell 1.5 percent during the quarter as market declines and foreign-exchange losses eroded more than $108 billion in value. The firm co-founded by Fink in 1988 acquired Barclays Global Investors in December 2009 to expand into passive investments such as exchange-traded funds. It also offers actively managed stock and bond funds, hedge funds and portfolios that use mathematical models. Maintaining Exposure Fink, 61, has reorganized the firms leadership to improve performance at its active products and appeal to individual investors. BlackRocks equities products saw an increase of $10.2 billion, fixed income had $11.1 billion in net new money, and multi-asset $7.4 billion. BlackRock is among money managers lobbying against attempts by regulators to label some nonbank finance companies as systemically important financial institutions, or SIFI. BlackRock Vice Chairman Barbara Novick said on Oct. 10 that the lack of a major market disruption from Grosss departure from Pimco refutes some fears that issues at large asset managers can cause contagion for the broader markets.
15, 2014 /PRNewswire/ — Syska Hennessy Group, Inc., a global consulting, engineering and commissioning firm, is announcing that Tom Grimard, an engineering veteran with over three decades of professional experience has joined the company’s New York office as an Associate Partner, specializing in Building Management System (BMS) design and services. Mr. Grimard will apply his extensive BMS knowledge and know-how towards a number of New York City based Syska Hennessy Group projects and will be responsible for leading the firm’s global BMS practice area across the entire company. Mr. Grimard is also returning to the Syska Hennessy Group organization, having spent over 13 years with the company in the early part of his career, serving in the firm’s BMS Group from 1986 through 1999. As part of this new leadership role, he aims to extensively grow the company’s BMS client base as well as implement a company-wide “standard approach” for Syska Hennessy Group that will improve the overall quality of BMS deliverables to clients as well as enhance and facilitate the sharing of resources between offices. Mr. Grimard’s genuine understanding of new state of the art and existing legacy Building Management Systems and well-rounded experience in creating innovative and customized solutions for clients made him the ideal candidate for this critical role. He considers BMS the “all-seeing eye” for a building that facilitates overall building operations and maintenance and is a critical component of how efficiently a building is functioning. He has overseen BMS work for new building construction in a number of sectors throughout his career, including aviation, laboratory and pharmaceutical, cleanrooms, vivariums, government facilities, museums, performing art centers, education, healthcare, critical facilities, transportation and manufacturing. He has also worked on existing BMS run facilities projects, including retro-commissioning, master planning guidelines and legacy BMS replacement projects. Quote from Tom Grimard Mr. Grimard states, “I’m thrilled to be back at Syska Hennessy Group to lead this critical practice area. Robust building management systems and automatic controls design are not only the ‘glue’ that keeps a facility operating properly but it’s also what leaves the greatest lasting impression on building owners. Even the most well-designed building will not operate and function as well as a lesser designed building that is supported by a robust building management system.” “With this new role, I intend to create an unmatched BMS services group for our industry utilizing state-of-the-art technology that Syska Hennessy clients across the globe can tap into, combined with a standardized system that will streamline project work for all of our offices.” Mr. Grimard also adds that, “Unlike most other competitors in this arena, Syska Hennessy is ahead of the game with an already strong building controls group; I look forward to building upon this solid foundation and taking it to the next level. And while my passion is aviation, critical laboratory and healthcare projects, I will also be able to utilize my years of experience towards implementing sophisticated BMS services including sustainable energy efficiency and converging smart building technology. This includes merging and integrating BMS, Computerized Maintenance and Management Systems (CMMS), Data Center Infrastructure Management (DCIM), Emergency Power Monitoring Systems (EPMS) and LEED energy usage metering for critical facility applications.” Quote from John Passanante, PE RCDD “Tom is a perfect fit to lead this key practice area during a time when Syska is expanding its global reach and continuing our aggressive growth,” stated John Passanante. “He will play a key role in delivering value to our diverse customer base and we look forward to working with Tom in developing new client-focused BMS initiatives.” Thomas Grimard
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