Pamela Hendrickson is the chief operating officer for the Riverside Company in New York City where she leads the firm’s largest division. She also is an active member of the ACG New York Chapter, and this year became the chairman of the ACG Global Board of Directors. With more than 28 years of experience in finance, Hendrickson, prior to joining Riverside in 2006, spent 22 years at JP Morgan Chase—13 of them with the Private Bank. She speaks often in front of groups about the middle market and the state of the private capital investment community and is widely quoted as an expert source in the media.
Q. WHY DOES THE MIDDLE MARKET MATTER?
The middle market is really the engine of today’s economy. About 24 million American jobs are based on the middle market, and those companies’ revenues represent 40 percent of U.S. GDP. These private capital-backed companies are also growing jobs more than three times faster than the U.S. economy in general, and their sales figures are more than quadruple what other U.S. companies are seeing. In short, the middle market matters because it works so well. Middle-market companies embody the entrepreneurial spirit that makes nations thrive. ACG members are in the thick of this exciting part of the economy.
Q. WHAT NEW RULES AND POLICIES CAN HAVE AN IMPACT ON ACG MEMBERS IN THE COMING MONTHS?
One of ACG’s jobs is to help policymakers understand the collateral damage that can be caused by some of these policies. Economies around the world desperately need job creation, and for that to happen businesses need to grow. Regulatory environments that impede the ability of capital to flow into businesses are counterproductive. In the United States, while nothing is likely to be agreed upon in the near future, we need to make sure that in the quest for broad tax reform, things like deductibility of interest and R&D tax credits don’t get eliminated and result in a rate that is higher than what we have today. ACG remains dedicated to promoting the important role our members play in job growth and the health of the economy. ACG has a number of targeted efforts to educate the public and lawmakers. Learn more at www.middlemarketvoice.org.