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Article: Outventurist proves mettle to clients and employees.(Black Mountain Management)
- Article from:
- Employee Benefit News
- Article date:
- April 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Amid widespread organizational restructuring in the mid 1990s, businesses began farming out massive piles of paperwork in order to focus brainpower on their "core competencies."
It was also around the time that Credit Suisse First Boston was considering outsourcing its employee benefits administration. Steve Medici, then director of compensation and benefits, got hit in the head by an idea that would change his life and create new business and career opportunities in benefits finance and management.
In an arrangement he termed "outventuring," Medici proposed hiring his entire staff of nine to start a new employee benefits firm called Black Mountain ...