Scott Millimet is president of Institutional Client Management, LLC, a firm that specializes in working with insurance companies and institutions on client management techniques, sales techniques, building relationships, and transitioning from sales to client management to help businesses grow. After a 20-year career as a successful executive vice president, who led the team responsible for growing and servicing the insurance client database of one of the world’s largest asset managers, PIMCO, Scott launched the firm last year to serve a select client base with a client-centric approach.
As one of the most successful asset managers, he focuses on providing asset management expertise as a member of boards of directors, serving as an outsourced CIO/asset management professional, and consulting with institutions large and small on best practices in client management and sales practices. “I was looking to do something very differently and very selectively—building a concentrated client base of my own. I didn’t want a lot of clients, but rather a few that I can be very focused on and highly collaborative with,” he shares.
As a member of numerous boards of directors of primarily insurance companies and serving as an outsourced CIO, Scott has an intimate understanding of the industries in which his clients work—a critical asset in understanding clients, the businesses, and forming successful partnerships. With 35 years of extensive experience in multisector fixed-income asset management and a record of developing successful strategic initiatives designed to drive revenue growth, business expansion, and enhance client relationships, he is an expert in both asset management and time management, grounded in the firm belief in the value of building relationships.
Scott initially retired from the industry in 2018, but it wasn’t long before his drive and passion for the field lured him back in with the founding of Institutional Client Management. “I took some time off—six months—to clear my mind. Then a previous partner asked me if I wanted to start a company with him. But I wanted to stay with what I do best—working with companies to grow those businesses and manage those relationships,” he explains.
With a bachelor’s degree in economics and a master’s degree in agricultural economics and international marketing from Texas A&M University, Scott moved to Chicago to work at the Board of Trade, where he opened a trading desk for Cargill Investor Services, and four years later, opened its Tokyo office. After a year, a government primary dealer asked him to run their bond-trading desk, which he successfully grew. After four years in Japan, he ran their Chicago Board of Trade on the bond floor as opposed to the agriculture floor. It was in Tokyo where he made his transition out of agriculture and into insurance and asset management.
Scott left Cargill and moved to Boston to join a mutual fund company owned by New England Life Insurance, where he oversaw a large part of the insurance company’s portfolio, which served as the foundation for his insurance and asset management career. He joined PIMCO in 1999 to focus on growing the company’s insurance side of its business. By building and managing a strong team, focusing on client needs, and developing relationships both internally and externally, Scott built the business from five billion to 60 billion in assets over his 20 years with the firm. He now uses the same skills and approach that led his PIMCO team and its clients to astounding success to do the same for his own Institutional Client Management clients. “Working on client management and making sure we are always the client’s first call is our goal,” he shares.
President — Institutional Client Management LLC
LinkedIn: Scott Millimet