# Professor Roy Smith is interviewed about CLSA Ltd.'s move to diversify its business model

1 Faculty News December 19, 2017 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](https://www.bloomberg.com/amp/news/articles/2017-12-05/how-mifid-and-china-are-upending-clsa-s-old-school-broking-model) -- "It makes sense for CLSA to reduce its reliance on institutional broking, but success in areas like asset management isn’t guaranteed, said [Roy C. Smith](http://www.stern.nyu.edu/faculty/bio/roy-smith), emeritus professor of management practice at New York University’s Stern School of Business. 'Whether they can pull this off depends on the firm’s ability to execute a major business and cultural transformation,' he said."

[Read more](https://www.bloomberg.com/amp/news/articles/2017-12-05/how-mifid-and-china-are-upending-clsa-s-old-school-broking-model)