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Meet The Gerson Lehrman Group: The World's Biggest "Expert Network"

Tyler Durden's picture





 

We have been inundated with reader requests to present some more data on just who these suddenly infamous "expert networks" are. Below we present what is arguably the world's largest expert network, the Gerson Lehrman Group, which boasts a roster of over 200,000 expert consultants in its network. Access to GLG is typically confined to ultra high net worth clients, read hedge funds, who can afford to pay hundreds of thousands of dollars per quarter, and comp the company's consultant to the tune of between $250 and $1,000 per hour, which is why so many readers may have never heard of GLG and its comparable companies. 

Those who may wish to get access to the same healthcare experts (many of whom may or may not be privy to FDA drug approval milestones, ahem), can do so here: GLG openly lists it entire expert network: link.

Other verticals provided by GLG include:

And that's just the beginning: GLG advertizes over 200,000 "consultants" in its network, and 300 people who are involved in expert recruiting every day.

Below is the ever critical "About Us" Section:

About Gerson Lehrman Group

Intelligently connecting institutions and expertise.
Gerson Lehrman Group (GLG) is the global marketplace for expertise.
Since 1998, its technology-enabled platform for collaboration and
consultation has helped the world's leading institutions find, engage,
and manage experts across a broad range of industries and disciplines.

GLG Councils

Gerson Lehrman Group Councils are
networks of consultants, physicians, scientists, engineers, attorneys,
market researchers, and other professionals from around the world.
Council Members leverage GLG's sophisticated proprietary systems to
categorize their experience and expertise. GLG research professionals
use these systems to quickly provide relevant Council Members who can
help clients better understand products, services, companies, issues,
and industries.

GLG professionals in the United States, Europe, and
Asia are continuously expanding the GLG Councils, adding thousands of
new Council Members each month. Research professionals around the world
recruit in 14 languages.

Focused and Independent

Gerson Lehrman Group focuses
exclusively on providing a platform for consultation and collaboration.
GLG does not write reports or take published positions, make product
recommendations or offer investment advice.

GLG is algo completely unregulated.
And here is the GLG Board of Directors:

Mark Gerson, Executive Chairman

Mark Gerson is the Executive
Chairman of Gerson Lehrman Group (GLG), which he co-founded in 1998. A
graduate of Williams College and Yale Law School, Mark is also the
author of several books and numerous articles and essays. His work has
been published by the Free Press, Addison Wesley and Madison Books, and
in newspapers and magazines including The New Republic, Reader's Digest,
USA Today and the Wall Street Journal. Mark currently serves on the
boards of the American Friends of the IDC, Manhattan Institute, Yale
Chai Society, and Imentor.

Mike Bingle

Mike Bingle joined Silver Lake
Partners in 2000. He is a Managing Director and co-head of North
America. Mr. Bingle has significant experience in private equity,
technology investing, and large-scale mergers and acquisitions. Prior to
joining Silver Lake, Mr. Bingle was a principal at Apollo Management,
L.P., where he evaluated, executed, and harvested a wide variety of
private equity investments. Before Apollo, he worked as an investment
banker in the Leveraged Finance Group of Goldman, Sachs & Co. Mr.
Bingle currently serves on the corporate boards of Gartner, Inc., IPC
Systems, Inc. and The Gerson Lehrman Group. He's also a Term Member of
the Council on Foreign Relations and serves on the Board of Visitors for
Duke Universitys School of Engineering, as well as the External
Advisory Board of McKinsey & Company. Previously Mr. Bingle was a
director of Ameritrade Holding Corp., Datek Online Holdings, Inc. and
Instinet, Inc. He holds a B.S.E. in Biomedical Engineering from Duke
University.

Patrick Duff

A private investor, Mr. Duff was
formerly a Senior Managing Director and a member of the Management
Committee at Tiger Management. Prior to joining Tiger in 1989, Mr. Duff
worked in asset management at Mitchell Hutchins and Capital Builders
Advisory Services. A Certified Public Accountant and a Chartered
Financial Analyst, Mr. Duff has a B.S. from Lehigh University and a
M.B.A. from the Columbia Graduate School of Business. Among his
philanthropic endeavors is participation on the advisory board of the
Association to Benefit Children.

John Goldsmith

John Goldsmith is an investor in
early-stage and growth companies. Through the end of 1999 he was a
partner of AEA Investors Inc., which he joined in 1989. While at AEA,
Mr. Goldsmith was involved in all aspects of the investment management
process including identifying, evaluating, negotiating, and financing
attractive businesses, and working with their managements to plan and
achieve their goals. During this period the AEA team generated net
returns to investors of approximately 50% on over one billion dollars of
equity. Mr. Goldsmith is a CPA (inactive), received an MBA in finance
from NYU's Stern School of Business and graduated from Princeton
University.

Lewis E. Lehrman

Lewis E. Lehrman, co-founder of the
Gilder Lehrman Institute of American History, is a partner in L.E.
Lehrman & Co. A former candidate for governor of New York, he has
been a trustee of the American Enterprise Institute, the Morgan Library,
and the Heritage Foundation. He is former Chairman of the Committee on
Humanities of the Yale University Council and served as Visiting
Lecturer in American History at Gettysburg College.

Thomas D. Lehrman

Thomas D. Lehrman most recently
served as the Director of the Office of WMD Terrorism at the U.S.
Department of State and previously as a member of the professional staff
on the Presidents WMD Commission. He is a co-founder and former
co-Chief Executive Officer of Gerson Lehrman Group and earlier in his
career worked as a financial analyst at Tiger Management. He is also
co-founder and board member of the Brooklyn Excelsior Charter School and
the Hillhouse Scholars Program. Mr. Lehrman is a Chartered Financial
Analyst and graduated from Duke University and from Yale Law School.

Doug Mack

Doug Mack was named CEO of One
Kings Lane in 2010 and was previously CEO and co-founder of Scene7, the
leading rich media platform provider for the e-commerce industry. As
CEO, Mack attracted numerous investors and completed the successful sale
of Scene7 to Adobe Systems in May 2007. Mack then joined the executive
team at Adobe where his most recent role was vice president and general
manager of digital imaging and dynamic media. In this role, he provided
leadership over flagship properties such as Adobe Photoshop® and Adobe
Flash Media®. Mack was also a consultant with McKinsey & Company and
began his career with General Electric.

Edward Nicoll

Mr. Nicoll is the former CEO of
Instinet and Datek and the former President of Waterhouse Securities.
Mr. Nicoll is the first person in the modern era to have graduated Yale
Law School without having gone to college. He is a Trustee of the
Institute for Advanced Studies in Princeton, New Jersey.

Simon Patterson

Mr. Patterson joined Silver Lake
Partners in 2005 and is a Director. Prior to joining Silver Lake, he
worked at General Atlantic Partners and at GF-X, provider of the leading
air cargo distribution system, where he was a member of the founding
management team and held the roles of Senior Vice President Asia Pacific
and Product Development Director. Prior to GF-X, he was a Managing
Director of BMC, a subsidiary of the Financial Times newspaper, and a
management consultant at McKinsey & Company. He serves on the boards
of Skype and Gerson Lehrman Group, Inc., and is the Chairman of the
Prince's Trust Internet and Media Leadership Group. Mr. Patterson holds
an M.A. from King's College, Cambridge University and an M.B.A. from the
Stanford University Graduate School of Business, where he was an Arjay
Miller Scholar and was presented with the Alexander Robichek Award for
Achievement in Finance.

Alexander Saint-Amand

Alexander Saint-Amand is Chief
Executive Officer at Gerson Lehrman Group (GLG). Before joining GLG at
its inception, he worked for Bloomberg LP in New York and Frankfurt.
Alexander is a graduate of the University of Virginia.

Rob Stavis

Rob Stavis is a General Partner in
Bessemer Venture Partner's Larchmont, New York office. He primarily
focuses on early-stage investments in financial services and in emerging
software technologies. Mr. Stavis is currently involved with Gerson
Lehrman Group, Portrait Software (formerly AIT Group, LSE-AIM: PST),
Zopa, Revver, Pure Networks, and Quadriserv. His exited investments
include SiteAdvisor (acquired by McAfee), PRE Solutions (acquired by
Incomm), LifeHarbor (acquired by Vestmark) and Skype Technologies
(purchased by E-bay in 2005), where Mr. Stavis led the A round. Prior to
joining Bessemer, Mr. Stavis was a private equity investor, managing a
portfolio of interests in a variety of industries including
telecommunications, software, technology, gaming, and restaurants. Until
July of 1998, he was the co-head of global arbitrage trading for
Salomon Smith Barney. Mr. Stavis served as a member of the firm's
operating committee, risk management committee, and the control and
compliance committee. He has published numerous articles on derivatives
pricing and risk management. Mr. Stavis holds degrees from the
Engineering School of the University of Pennsylvania and the Wharton
School of Management.

Zero Hedge has every intention of continuing to be over a year ahead of the curve on the issue of expert networks. Stay tuned for much more soon..

 

 


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Mon, 11/22/2010 - 15:05 | Link to Comment MeTarzanUjane
MeTarzanUjane's picture

Upon further examination;

That's a virtual who's who of douche nozzles.

Mon, 11/22/2010 - 15:48 | Link to Comment 66Sexy
66Sexy's picture

real estate i.e. knowing when key deals will or wont close, and what adjoining parcels are for sale and by whoom. this shits been going on a long, long time, and it always involves politicians...as i am sure this group does. i'm sure we may get us a senator or 3 in the mesh of indictments. yee haw!

Mon, 11/22/2010 - 17:09 | Link to Comment bonddude
bonddude's picture

They live on selling data mined by hiring (short contracting with) former employees of listed companies under the guise of "one of their clients has merger intentions,etc..."

And how many of these out of work and hard up former execs have violatated their terms of employment/departure and broke the law ?

Lots of people are talking me thinks.

Hope it reaches the TBTFs.

 

Mon, 11/22/2010 - 14:44 | Link to Comment Commander Cody
Commander Cody's picture

How to be expert in siphoning capital from a productive society?

Mon, 11/22/2010 - 14:46 | Link to Comment demsco
demsco's picture

As a consultant for this group I was never asked to provide private information. Actually, they mandate that you not disclose any nonpublic information. You are paid by GLG so there is no incentive to give such information. Most calls last 30 minutes @ $500/hour. I was never asked to give details about private information nor would provide any I if asked. These, of course, are just my experiences with the firm. It is a good firm and if any insider info happened it would have been between the consultant and the client. If this did happen thanks a lot assholes. Another case of a few bad apples ruining the crop. 

Mon, 11/22/2010 - 14:49 | Link to Comment bob_dabolina
bob_dabolina's picture

And what do you get for $500 an hour?

Just curious.

I hope you're not telling me that I would get "public" information for $500 an hour.

Mon, 11/22/2010 - 14:55 | Link to Comment tmosley
tmosley's picture

If it saves you months of your own research, I think you would find it well worth the money.

I have used services like this in the past for consultation on chemistry problems after fruitless months spent on my own research (the answers I was looking for had to include technique in addition to the simple publicly available recipes).  I had an answer in an hour.  It was worth ten times what I paid at least.  

Of course, now we have a polymer chemist on the payroll, so I haven't had to use a service like that in years.

Mon, 11/22/2010 - 15:55 | Link to Comment DUNTHAT
DUNTHAT's picture

$250 bucks to learn how to google??

Mon, 11/22/2010 - 15:04 | Link to Comment buzzsaw99
buzzsaw99's picture

Save it for the deposition.

Mon, 11/22/2010 - 16:36 | Link to Comment seek
seek's picture

As a former consultant (I haven't done a consult in several years) I can confirm that GLG mandates no insider information, but I can say with certainty that this did not stop a few of their clients from trying. I stopped answering consultation requests due to this, and the incessant attempts by the clients to get research for near free (ie industry statistics that cost $10K/year, and they'd call up and ask you to read the data to them for an hour.)

I have no doubt they'll find some bad apples, maybe even a lot. I know I never supplied any inside information (thankfully I had little to share to begin with) and in a couple cases actually reported the most asshole-ish clients back to GLG, mostly so I'd never be contacted again.

In the end I found the thing to be a bit distasteful; when GLG just started it really seemed focus on client education and I think everyone involved felt there was mutual benefit. As time wore on I think it just sort of spiraled out of control into an information free-for-all with a lot of clients looking for easy pickings or somethng for nothing. Things may have changed, as I said it's been a few years, but by the looks of it, it just got worse.

 

Mon, 11/22/2010 - 14:47 | Link to Comment Comrade de Chaos
Comrade de Chaos's picture

Getting the insider information - 'priceless.' For everything else, there is the GLG. GLG our business model and services are so 'innovative', we don't need a f... advertisement!

Mon, 11/22/2010 - 14:47 | Link to Comment MikeyKid
MikeyKid's picture

It's laughable that the silver spoon born and powder puff journalism fluff master Anderson Cooper uses the "Keepin' em honest" moniker like he really is keeping them honest... Yet, here's a perfect example of how TD's been doing it for real - for a real long time.

 

When will the roaches really start to scatter?!

 

Mon, 11/22/2010 - 14:55 | Link to Comment MeTarzanUjane
MeTarzanUjane's picture

Funny you used the word scatter. Bush cronie Lehrman is in the mix here. He was a TSA architect. Fan of the full body pat-down violation of the constitution, pro-israeli let's turn the USA into an extension of the homeland israel (homeland security).

Mon, 11/22/2010 - 14:49 | Link to Comment shushup
shushup's picture

What about that FED Govenor that provides information to his clients for something like $75,000 per year. Will they be going after him as well?

Mon, 11/22/2010 - 15:08 | Link to Comment bob_dabolina
bob_dabolina's picture

I swear it wasn't insider trading or anything like that.

It was an "idea dinner" soros, einhorn, paulson....ahem.

Mon, 11/22/2010 - 14:53 | Link to Comment aint no fortuna...
aint no fortunate son's picture

Hey! That link actually lets you email them!!! Yippee!

Mon, 11/22/2010 - 14:56 | Link to Comment Croesus
Croesus's picture

If they're not on the Federal BI's "hitlist" yet, I hope they soon will be ~

Mon, 11/22/2010 - 14:59 | Link to Comment Bruno the Bear
Bruno the Bear's picture
GLG's 850+ Clients Include:
More than 70% of the world's leading
mutual funds
15 of the leading 20
global banks
9 of the leading 10
global private equity firms
5 of the leading 10
AmLaw firms
Fortune 500® Companies
in nearly every industry sector, including pharmaceuticals, insurance, chemicals, energy and computer software
I am assuming after today's raid, they have several former clients.
Mon, 11/22/2010 - 15:35 | Link to Comment john milton
john milton's picture

GLG great looting gang, all my boyz doing devils work...

Mon, 11/22/2010 - 15:08 | Link to Comment YHC-FTSE
YHC-FTSE's picture

Is this an advert? 

 

"a platform for consultation and collaboration. GLG does not write reports or take published positions, make product recommendations or offer investment advice."

 

So basically they provide a table and a few chairs for talking bollocks over lunch? Usually I don't need to be told twice to run a mile from anyone who supports: IDF, IDA, IDC, Mossad, or anything to do with being a "friend" to Israel. 

Mon, 11/22/2010 - 15:20 | Link to Comment MeTarzanUjane
MeTarzanUjane's picture

It might be. I always thought .this was sponsored in part by those heritage foundation coo-coo's.

Mon, 11/22/2010 - 15:26 | Link to Comment GoldbugVariation
GoldbugVariation's picture

I can think of a ton of innocent reasons why a hedge fund would need the services of an expert biochemist or engineer.  They could advise on getting the coffee to taste just right, or the maximum number of monitors that could be stacked on one trading desk.  I hope I'm not being naive here.  ;)

Mon, 11/22/2010 - 15:27 | Link to Comment Bearster
Bearster's picture

Amazing how the simple fact that they charge money for consulting could be used to lynch them.

And of course it's Israel's fault. //sarcasm

Mon, 11/22/2010 - 15:33 | Link to Comment CD
CD's picture

The funniest part is that as a condition of continued "projects", consultants have to take a "tutorial" to help guide them in their efforts to keep to GLG guidelines. Some sample questions:

Your friend Paul works for XYZ Company. Paul tells you that he heard a rumor from another XYZ employee that XYZ may be about to announce acquisition of a small XYZ competitor, Blue Corp. As far as you know, no information about the potential acquisition has been disclosed by Blue Corp. or XYZ.

Can you tell our Client about the potential acquisition?

Sam, an independant consultant, has just accepted a project to consult about Acme Inc's new electronic medical records software program and its potential market share. Sam’s friend Joe currently works in Acme’s strategy department and likely has seen Acme's market share analysis.Should Sam call Joe to prepare for the project with GLG’s client?

Mon, 11/22/2010 - 15:44 | Link to Comment lilimarlene1
lilimarlene1's picture

I wonder if they work on a click to call basis?

Mon, 11/22/2010 - 15:44 | Link to Comment John McCloy
John McCloy's picture

Wait...so create a business that's sole purpose is to assemble a ring of insiders from various industries,.label them consultants and them sell the inside information as "advice" and it is consumed as such because of the high price tag, fancy PHDs and connected clientele? Why didn't I think of that?

Mon, 11/22/2010 - 15:59 | Link to Comment Whatta
Whatta's picture

Their bios indicate them to be a bunch of Ivy League entitled elitists.

Who are we to judge their actions when we are but the great unwashed? I went to a State College fer fvcks sake....lucky i kin read and write.

Mon, 11/22/2010 - 16:33 | Link to Comment OutLookingIn
OutLookingIn's picture

 

 I see the Department of Wrist Slaps will be busy!

Mon, 11/22/2010 - 17:09 | Link to Comment Boba Fett
Boba Fett's picture

As corrupt and unethical as this business may potentially be... It is my understanding that this service is so widely used, that if they were take action a and prosecute all the way down to warning letter the past user base - it would hit like 75% of money mgrs.

Mon, 11/22/2010 - 19:02 | Link to Comment BayAreaAlan
BayAreaAlan's picture

I have been a consultant (1099 contractor) to GLG approximately 75 times over the last 8 years.  Each consultation ranged from 20 to 120 minutes and was paid at $500/hour.

At no time did GLG or any of their clients ask me inappropriate questions nor did I give any proprietary or confidential information.

Practicaly, most of the clients were incredibly ignorant financial people who were willing to pay lots of money to talk with someone with a clue.

Is it surprising that the people running hedge funds and doing M&A don't really understand the markets they are investing in?

Typical calls would be with a 22 year old pedigreed hot shot who was smart enough to know that he didn't everything, and asked for an overview of how certain markets and industries work, so he could summarize it and explain it to his hot shot trader or Managing Director boss.  They rarely asked about specific companies, mostly because they are so damned greedy (god bless Rand) and untrusting, most of their consultations are done through named "shell companies" so the consultant doesn't even know who he's advising.

I'm sure there is corruption and insider trading going on in this area, but no more than there is at the airports, the bars, or the sports gyms.

Yes, I profited from GLG and I am a biased source,  but I assert that they went beyond in trying to ensure no proprietary information was passed, and in my population sample of ~75 interactions, I never saw a hint of impropriety.

Mon, 11/22/2010 - 20:23 | Link to Comment JohnKing
JohnKing's picture

The rapid response viral marketing department goes into gear....

 

 

 

Mon, 11/22/2010 - 22:51 | Link to Comment MeTarzanUjane
MeTarzanUjane's picture

Makes you wonder how he got his account approved so quickly?

C+C Music Factory
http://www.youtube.com/watch?v=XF2ayWcJfxo

Mon, 11/22/2010 - 21:05 | Link to Comment CitizenPete
CitizenPete's picture

Bernays genuflects deeply to you! 

Tue, 11/23/2010 - 00:37 | Link to Comment BayAreaAlan
BayAreaAlan's picture

Sometimes a cigar is just a cigar, bitchez.

Tue, 11/23/2010 - 01:01 | Link to Comment JohnKing
JohnKing's picture

500 dollar cigars bitchez.

 

tell it to Bubba.

Tue, 11/23/2010 - 01:08 | Link to Comment Johnny Dangereaux
Johnny Dangereaux's picture

Looks like Patrick Duff is the token Goyim...  What a surprise! tThey're all involve with Yale or Yale Law School i.e. the School for Shysters

Tue, 11/23/2010 - 05:44 | Link to Comment GoldbugVariation
GoldbugVariation's picture

But Patrick Duff participates on the advisory board of the Association to Benefit Children (among his other philanthropic endeavours).  He must be a really good guy.

Tue, 11/23/2010 - 07:59 | Link to Comment koaj
koaj's picture

i remember for the last 4 years as i was selling to buy side firm, there were times when my firm's research would lose to these 'expert networks

my understanding or as ive heard is that a TON of firms use these guys and other firms like them.

 

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