Redington Ltd. Reviews

Updated 12 May 2020

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4.2
77%
Recommend to a Friend
87%
Approve of CEO
Redington Ltd. CEO  Mitesh Sheth (no image)
Mitesh Sheth
7 Ratings
  1. "Open and transparent company, meaningful work and great colleagues"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Redington Ltd. full-time for more than a year

    Pros

    Very open and approachable leadership - I've been able to hold regular conversations with the leadership informally and formally and even received feedback on my performance from senior leadership - which companies can boast that flat an employee structure?! Driven and intelligent colleagues to work with - I've worked at another consultancy before working here and found the people at Redington to be much more driven, with a broader range of skills and a experience. Opportunities to get involved everywhere in the business - there are a lot of committees so if you want to do something, all you have to do is put your hand up. The teams are also much smaller so you'll be exposed to a much broader range of experiences and can take up more responsibility with the necessary support available if you need it. You do need to be the type of person that can work independently but if you can do that, there are plenty of opportunities to get stuck in to. Great technology and flexibility within the firm.

    Cons

    Career progression has slowed down slightly since I joined - that can be a positive as well as it ensures those who are more senior in the business have the necessary experience to be held accountable for their decisions.

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  2. Helpful (1)

    "Great company, big heart, open and transparent leadership and culture"

    5.0
     

    I have been working at Redington Ltd.

    Pros

    Lots of responsibility given early to those that demonstrate potential Leadership is open to feedback, actively seeks and listens attentively Lots of communication in all directions Smart people, innovative thinking Extremely client-focused Technology led Global Private Equity backed Very internally consultative

    Cons

    Sometimes leadership over shares Very young, inexperienced team leaders Long hours

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  3. "Cult-like culture"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investment Consultant in London, England
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Redington Ltd. full-time for more than a year

    Pros

    Redington people are generally friendly. They have a strong reputation in their core market (advising UK corporate pension funds on investment issues). There is a strong culture of innovation. Pay is a little above market average for mid level people. The office is excellent and very well located.

    Cons

    There is a lack of clear leadership. The strategy changes too frequently and there is a tendency to always latch on to the latest new thing. The business has had profitability issues in the last few years. Profit margins are far lower than at competitors so there's always the risk of things going badly wrong. There is a superstar culture, which means quieter, more modest people tend to get overlooked for praise and rewards. This culture creates an atmosphere of internal competition rather than teamwork and partnership. Backstabbing is common and is rewarded (as management usually missed it). There is a general sense of naivety around. There are lots of young, inexperienced people in relatively senior positions. Management wastes time with far too many unnecessary initiatives and pointless updates. Hours are longer than competitors. There is a huge amount of intellectual arrogance with a general belief that the rest of the investment consulting industry has got everything wrong. There is little willingness to learn from the competition. This belief that "Redington knows best" makes the place feel like a cult.

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    Redington Ltd. Response

    May 5, 2020

    Hi There - Thank you for posting this review - Please see a response from our CEO Mitesh Sheth; "Thank you for your review. Some of what you've said was spot on. Much of what you have said was accurate a few years ago but it is no longer true. We do have a number of young managers and leaders in the firm. Some of us are doing these roles for the first time. This can mean we make mistakes or need to ask for help. However, on balance it also means there is an openness to new ideas, a willingness to be challenged, a freshness of approach and adaptability across our leaders. As a result of our desire to delight our clients, we allowed our service to become too bespoke, proving to be inefficient as we grew. I am very proud that over the past couple of years we have increased profitability across our business, whilst also increasing our client service feedback. We have delivered strong profits over the past year and feel confident about delivering on a clear path towards higher levels of profitability over the next few years, but we want to do this carefully without compromising our culture or client service in achieving this. We do work longer hours particularly around client meeting cycles (as do most consulting firms), but we also give excellent opportunities to grow and offer great flexibility in how we work. On top of an industry-matching vacation policy, we also close for a week at the Christmas holidays so all our staff can re-charge and enjoy time off with their families, etc. We haven't always got this balance right, but it is something we continuously review. I do not recognise your comments around internal competition. People at Redington are generous with what they know and regularly surprise me with their personal sacrifices for the greater good. You are right that we need to do better in helping quieter people speak up, recognising and getting the best out of our introverts. This is an areas of focus for us. Whilst there was a perception around arrogance a few years ago, we have hired many new people at all levels from other organisations, who have helped to keep us grounded. They have given us constructive feedback on where we are doing well and where we need to get better. We also regularly ask our clients for how we can improve - “continuously striving for better” is a really important value for us. As an entrepreneurial business in our early days we were often criticised for taking on too many initiatives, being drawn by everything new and changing strategy too frequently. For more than a couple of years now, we have focused our efforts on the same goal to help make 100m people financially secure - by broadening our UK consulting business and expanding our international client base, starting with Europe and China, leading with fund solutions and software. Our new strategic investors Phoenix Equity Partners have backed this leadership team and this strategy with their investment and commitment. We are very grateful to have their experience, support and guidance at our board. Since you have left the firm, I believe we have come on leaps and bounds. Thank you again for your feedback."

  4. "Great culture, excellent reputation, exciting growth prospects"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Investment Consultant in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Redington Ltd. full-time for more than 8 years

    Pros

    - Industry reputation as a high quality, premium provider has meant steady year-on-year growth in both revenues and margins - Recent acquisition by private equity is a strong vote of confidence in the business and should provide a solid platform for further growth - Has done a pretty good job of preserving culture as the company grows - there is relatively little internal politics and a sense of family/community where people look out for each other [as indicated by a couple of recent reviews, this view is not universally shared among staff but my sense is the issues they mention are isolated to certain teams] - Combination of fast growing firm and flat hierarchy means there are good opportunities for personal growth and taking on responsibility at an early stage in one's career. - Exceptional feedback from clients on both service standards and investment outcomes delivered. There is a real sense of purpose where staff care about delivering great outcomes for clients, not just hitting profit targets. - Competitive pay - base salaries are similar to competitors but bonuses tend to be higher and promotions are quicker. - Although working hours can be long in the busy periods, there is good support for flexible working and no "face time" culture

    Cons

    - Innovative culture can mean fixating on the latest flavour of the month idea at the expense of more gradual but easier to implement improvements. - Fragmentation of IT systems can cause frustration - e.g. same piece of data has to be saved/inputted to multiple systems, key documents can take ages to locate etc. - L&D has historically been less structured than peers with more reliance on "on-the-job" training. This can be stressful if one is not a self-starter.

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  5. Helpful (4)

    "A fun, intellectually stimulating environment with people who are open to feedback"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Redington Ltd. full-time for more than 3 years

    Pros

    People in finance like to say they have a 'flat hierarchy' a lot. This is the first place I've worked at where that is true. MDs will listen and engage with junior people's opinion whether that is on client work or how the business is run. Senior leadership genuinely care about every employee. To secure investment they worked very long hours because this was what was best for the company to ensure its long-term financial viability. One year, when there was a smaller bonus pool for various reasons, directors in the company sacrificed their bonus to not penalise junior people prohibitively. Senior leadership certainly aren't perfect, but they are willing to take on feedback and improve. This is a very rare trait for people in a position of authority. For example, initially firmwide updates were poorly run. The senior leaders have genuinely worked on improving this in response to feedback and done a great job of improving this. There is a great learning environment. Redington has employees with 30+ years in finance at amazing organisations (Goldman Sachs, Morgan Stanley etc. etc.) Any of them will be more than happy to have a catch up with you. The company treat you like an adult, if you come to work, do your job well then managers will be flexible with you, allowing you to work from home (within reason). Other glass door reviews talk about this not being the case, from my experience there is genuinely no 'facetime' culture. I've made some genuine friends here - the environment means there is a great balance between 'being professional' and 'being yourself.' The work is genuinely very interesting, with real-world implications. There is a genuine social value in the work the company does - though recognising it is not a charity! I would recommend this firm to anyone.

    Cons

    Senior leadership are working to address this and have made genuine improvements, however I feel more needs to be done on hiring more diversely at junior levels. As with any organisation there are individuals who do not work together well with other members in the team. However I have experience of giving feedback to a more senior person and it being addressed in good time. Work life/balance can be tricky. I feel the flexibility you are given makes up for this and given all the other benefits (including a ridiculously good pension) this is not the worst problem in the world. More efficient working practices means this has improved over time.

  6. Helpful (1)

    "Do not believe the hype!"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend

    I have been working at Redington Ltd. full-time for more than 5 years

    Pros

    Lots of lunch and learn sessions. Can be social but also very cliquey.

    Cons

    I will start by saying that I have decided to write this review after seeing that a colleague, or ex-colleague (not sure if they still work here), had also recently posted a review, and I have taken courage from that. There seems to be no real leadership in the firm! There are 6 or so top people, one of them being a contractor, yet sits on the Executive Committee. Between them, nothing really seems to get done. Decisions take forever to make because of a lack of real leadership within that group! This group spends hours deliberating because none of them are able to set clear objectives and to take a stand. They try to accommodate every individual, however admiral that may sound, nothing gets done because of it, to the point of almost pandering. Likewise, everyone knows who these top 6 people are, which means that everyone is constantly trying to get into their good books. The company will openly talk about promotions and recognition being driven by hard work etc. However, this is clearly not the case, it’s a popularity contest, if you are vocal/loud, even if its not about your role/job, you will get noticed and be put forward and ultimately be promoted. If you keep your head down and work hard, you will never be recognized or rewarded for it because you are simply not popular/loud enough. In this firm, diversity seems to be simply about gender and colour. Nothing is done about diversity in thought, as mentioned, if you are quiet and don’t get in the good books of certain people, you will be left behind as your suggestions and input is not acknowledged. Many have been promoted undeservedly, simply because of their popularity amongst the top 6. Working hours are extremely long in this firm. Standard day is 8:30-6, but you are lucky if you get to leave at 6, and if you do, you are given the death stare by your manager and others who choose to stay late. They will say that the 8:30-6 times are justified because you can leave at 4:30 on a Friday. However, leaving at 4:30 on a Friday is just as frowned upon, if not more, as leaving at 6 on a normal day. For the hours, compensation is not appropriate. The firm talks about flexibility, but that only applies to some people. Some people get to work from home regularly, at least once a week, while others dare not even ask. There seems to be no trust between managers and their teams. Managers hover over everything that you do. They do not trust you to do your job. You have to constantly update your manager on literally EVERYTHING that you are doing, no matter how small, including sending simple email messages. You are told that if you have any issue at all, to talk to your manager or HR in confidence. This is a surefire way to end your career in this firm, as a few have found out recently, judging by their abrupt departures! Be very wary of certain people within HR, whatever you say to them makes its way back to the top 6 very quickly! Obviously, I am aware that this type of thing happens in all firms, but they talk alot about how this place is different, its not! It’s the same or even worse. If you get in with the right people, you will do really well here! Don’t believe the hype!

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    Redington Ltd. Response

    May 5, 2020

    Hi There - Thank you for posting this review - please see a response from our CEO Mitesh Sheth; "Thank you for your post and taking the time to give us this detailed feedback. I should say upfront that many of your comments seem quite particular to your specific context, but we’re aware how easy it is to pass feedback off as idiosyncratic and so we take all feedback seriously and use it as an opportunity to look at ourselves closely. We have discussed your feedback with the board, with our leadership team and with managers across the business. We have spoken to cross-sections of the firm and run anonymous surveys internally to assess the views of the firm. We pride ourselves on encouraging every employee to use their voice and to feel safe to challenge their managers and leaders. Your comments took us by surprise, as these are some of the top reasons people give for working at Redington. No one has lost their job at Redington for speaking up or challenging authority, and many have been celebrated and recognised for it. In our latest anonymous staff pulse survey “psychological safety” is rated strongly across the firm: 89% of employees said that leadership is approachable (an additional 9% gave a neutral rating) 83% of employees said they can be their authentic self at work (14% were neutral) 74% of our people said they are comfortable expressing their opinions at work without fear of negative consequences (17% were neutral) Despite these positive scores, following your message, we have taken the opportunity to remind all staff and managers of the importance of giving constructive feedback upwards, and refreshed the processes and channels for giving anonymous feedback with the support of our people team. We have also conducted training on seeking honest feedback for all our managers and are exploring a few specific ideas too. Your experience with your manager is also something we have struggled to understand – we get an enormous amount of feedback around the level of autonomy our employees are given. Each of our 35 managers is different, so there will clearly be differences in their style but not to this extent. In fact, the message from people in the firm is clear: 86% of employees said "my manager supports me and provides the resources and environment to succeed" 83% of employees said "my manager is interested in my career development, success and wellbeing" We know that there are a handful of individuals that may not feel heard, may not feel recognised or may not be engaged. We believe it is critical to keep working to address their specific concerns. We never want to be complacent. It is in our culture to continuously strive for better. We spend a lot of time and effort in cultivating an open, meritocratic and inclusive culture, it's a job that is never done and that requires continuous listening. For example - Our people team is actively working with managers to gather data and continuously improve processes around recognition and compensation to ensure we limit any risk of favouritism, peacocking or politicking. Specifically, we know we need to do a better job in engaging, managing, and getting the best out of our introverts. One of our employees has volunteered to gather specific recommendations from introverts across the business on how we can improve on this. Finally, just a few things that might be helpful to clarify. We have 8 people on our Board, 8 on our Executive Committee, 4 on REMCO and 3 on Operating Committee. In terms of leadership style, we are not command-and-control. We deliberately try to create the right conditions and culture, and then get out of our people's way to allow them to lead, shine and thrive. We find this helps us to attract, develop and retain the best people. We are very inclusive; I encourage lots of consultation and I have learnt to value the importance of seeking out differing perspectives before making important decisions. This can be frustrating for those who want to be told what to do or value a more directive style of leadership. There is a time and place for directive leadership but it’s like a sledgehammer to be used sparingly. I’m sorry that we weren’t able to end your employment with us on better terms and we haven't been able to give you a better experience. Thank you for taking the time to share your feedback. Your comments have provided us with a really valuable opportunity to take a hard look at ourselves and make a number of changes."

  7. "Not as open as it seems"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Analyst 
    Positive Outlook
    No Opinion of CEO

    I have been working at Redington Ltd. full-time for more than 3 years

    Pros

    Friendly and young culture, which helps you get through during the more busy periods Lots of socials and events which is great transparency on career progression

    Cons

    - Long working hours that are not compensated with a reasonable salary - Redington is a bit of a "boys club", especially in the main investment consulting team. Very strong male personalities that I find can intimidate some of our female colleagues. This is something that is not dealt with at the highest level. - A director in particular (seen as a role model for some) tells untrue stories about female colleagues to other colleagues, clients etc. which is incredibly unprofessional and has repercussions on their careers. This person claims to be an advocate for gender equality and responsible business practices.

    Redington Ltd. Response

    March 6, 2020

    Hi There - Please see the response from Mitesh Sheth ; "Thank you for taking the time to put this review onto Glassdoor. We really value feedback, both positive and constructive - highlighting things we need to work on. We've taken your feedback seriously. Cultivating an inclusive and diverse culture is deeply important to me and my management team. It is also a key reason why people decide to join Redington and stay with us. We've taken time over the last few days to share your feedback with our whole firm, and speak to a wide range of individuals to try and understand the issues you've raised. In doing so, we've unfortunately not been able to shed any light on your concerns. Having canvassed a broad range of views, we feel confident that we have an inclusive and open culture where people feel comfortable speaking up. However, the situation that you described doesn't fit with that, so I would love to understand the specific experience you faced so we can actively address it. I encourage you to find a medium through which you can give us this feedback directly. It is important to us that every issue is dealt with in a constructive and timely way. We will of course continue to talk to our people and challenge our assumptions - this is what our culture is built on. I'd just like to say thank you again for your feedback, and I really am sorry this has been your experience. I hope you can reach out to help us understand what has taken place so we can keep doing everything in our power to keep Redington a great place to learn, work and thrive."

  8. Helpful (1)

    "-"

    4.0
    Former Employee - Anonymous Employee 

    I worked at Redington Ltd. full-time for more than a year

    Pros

    Incredibly forward thinking and friendly culture, a lot of responsibility early on.

    Cons

    Can be long hours, depending on work load.

  9. "Great place to work and not your typical Finance Company"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Software Developer in Bristol, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Redington Ltd. full-time for less than a year

    Pros

    The company is very open with employees. The people and culture are great and they are always looking for ways to improve. The company is perfectly sized so that you can get to know everyone working there. The technology stack is cutting edge. Adopting an agile way of working with technical projects. Employee development as a new starter is excellent, you are given support and time to get up to speed. The company is fully setup for remote working; because of their offices in London, China and Bristol you often have people dialed into meetings from other locations. Offices are excellent and in great locations. The whole office closes over Christmas.

    Cons

    Currently Redington do not have a QA department, this will become a necessity soon as the business takes on more clients using their software and product development. A cloud infrastructure specialist (AWS/Azure/CI) would benefit the technical team to free up developers to work more on development project work. Having a specialist maintaining and improving their continuous integration and deployment systems would mean that this system area does not become a bottleneck for the technical department.

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  10. "A great growth business"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Redington Ltd. full-time

    Pros

    Redington has seen year on year growth since inception and has been very successful in its core domain. It is now actively expanding into new domains and new business lines as a way of diversifying revenue. This means that it is a very exciting time to be involved in the business and there are lots of interesting initiatives (especially in relation to global business lines and technology). This feeling of excitement is noticeable among the team and the general mood in the office is engaged and interested. Redington has done a great job of hiring smart people and growing its in house talent meaning that the team is full of high quality people who are great at what they do. They are also very open to sharing and supporting learning for others in the firm. The business is very flat in the way it is run and staff of all levels of seniority are encouraged to speak out and share their opinions. The culture that it portrays as a young challenger business within its industry is accurate and it would be a good fit for purpose led individuals and those that are happy challenging the status quo.

    Cons

    As a growth business, there are often challenging deadlines across the business. The typical quarterly cycle of the DB pensions landscape can compound these deadlines leading to very business period of time, especially in the core business areas. There have been some key staff changes in the last 12 months which has been a challenge in terms of having clear accountability and ownership for key tasks within the business. This has been addressed and now there is increased clarity and transparency in the way the business is managed. In the past the company has been keen to pursue new ideas and opportunities which has led to a lack of focus in some areas. Last year there was a qualification process to ensure the firm reduced the time spent on non core activities. This has helped to bring focus back into the business.

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