It wasn’t that long ago that Capital Group was one of the biggest equity firms in the country. The company was founded nearly 100 years ago and has amassed invaluable experience. In 2015, the company suffered a major loss. Its former Chairman, Jim Rothenberg, passed away from a heart attack while on vacation. His death came as a shock to the entire company and its associates. Like all companies, Capital lost its charisma during its period of mourning.
Many of its clients and partners are use to a quality performance given by certain major players. When one of those players dies or leaves the company, it difficult for the company to ensure its clients that it can still provide the same quality performance. After James Rothenberg’s tragic death, what was Capital Group to do?
Promote from within a candidate that everyone could trust. That candidate turned out to be Timothy Armour. Armour was the clear option based solely on his work experience. Unlike other candidates, Armour wasn’t related to any highly respected family friends, and he hadn’t come from another respected company. Tim Armour was an average guy that started working for Capital straight out of college, and he’s been there ever since.
Tim Armour has spent his entire 30-plus-year career at Capital. He started out as a participant in Capital Group’s Associates Program. When he got to join the company, Tim Armour started out as an equity investment analyst. It was his job to oversee U.S. service companies and global telecommunications. He would spend the next thirty years climbing Capital’s corporate ladder. Eventually, Tim Armour became an executive on Capital’s Management Committee. As an executive, he worked closely with Rothenberg on several projects. When Rothenberg, Armour was one of the company staff members most affected.
Even though Armour was saddened by the loss, he accepted his new responsibilities graciously. He’s excited to combine his experience with the lessons learned from Rothenberg. He’s looking forward to continuing Capital Group’s 84-year legacy. He has already given some clues about the future of the company’s business, showing concern over China’s slowing economic growth.
Unborn ideas find homes: and such is the case with Billy McFarland’s spectacular bold black Magnises card. This card is much more durable than most cards that a user carries in his wallet. The card is made of metal so it is not going to wear out easily and also it is weightier so it is much easier to locate in a pocketbook or wallet. And, naturally, the user will wish to locate it easily. It is considered a “cool” card so it deserves a “front-row appearance”–so to speak–inside an individual’s pocketbook or wallet.
What industry professionals find interesting about McFarland’s take on the Millennial is that he has observed and knows much about what it is his co-peers deserve and are craving. He makes these observations and then puts them into play.
McFarland mentioned that most Millennials carry a debit card or bank card–that is a given. He wanted his card to provide the component of pay; however, he also wanted to provide the Millennial access to everything the city wherein he works and resides had to uniquely offer him.
McFarland put his plan into action: he decided to put a magnetic strip on his metal card. He located a source in China. Once the magnetic strip was added, he assured the Magnises card could be linked to the Millennial’s bank card or debit card, so that he could easily pay for purchases. The card presents a very nice appearance, in the way of payment.
Next, he built in the social component. According to The Guardian, Billy McFarland approached all of the city’s truly iconic venues and the trendiest places to go: he knew that the Millennial enjoyed having fun in places that were unique and highly-refined. He made the connection: and pretty soon, vendors–presenting as truly sensational–were on board with the Magnises company.
The idea of a social network card with payment option included is changing lives. The Millennials embrace it. It takes the Millennial to the city’s best venues and provides an impressive appearance. It is what the Millennial expects: he wants to socialize in truly “cool” environments; and likes to have a card available that is exceptionally refined when it is he wishes to go to pay for items and services.
Billy McFarland, himself grew up in New Jersey, where he attended private school. He then matriculated to Bucknell University, which is a private liberal arts college. McFarland became an entrepreneur at 13 years old. During that time, he put together a virtual based business.