As I reflect on my first year as CEO, it has been inspiring to connect with so many clients and colleagues around the globe. It is a privilege to serve you, and on behalf of the entire William Blair team, we are grateful for the trust you have placed in our firm.

The past year, of course, was extremely challenging for investors. Global equity markets experienced a great deal of pressure and volatility in 2022 because of surging inflation, rising interest rates, and geopolitical turmoil. These conditions highlight the importance of being adaptable, while remaining focused on your long-term priorities and committed to principles that guide insightful, disciplined decision-making in any environment.

As we head into 2023, we encourage you to meet with your William Blair advisor to review your financial plan. These meetings are especially valuable as significant changes in asset valuations and interest rates have shifted where the most compelling opportunities may exist for growing, protecting, and deploying your wealth.

Brent Gledhill
Brent Gledhill, William Blair President and CEO

In this issue of Client Focus, Tyler Glover, director of William Blair Consulting Services, explains the importance of regularly reviewing your financial plan, and William Blair economist Richard de Chazal and strategist Olga Bitel discuss the forces that will drive the global economy in 2023. In addition, John Kreger, head of William Blair’s Equity Research group, provides a detailed look at our research process.

While inflation and geopolitical turmoil are major headwinds for investors, tremendous growth opportunities exist across sectors and regions. Low interest rates over the past decade have resulted in enormous amounts of capital being invested in promising technologies and disruptive business models that are unlocking new levels of productivity and innovation.

For nearly nine decades, our firm has specialized in identifying these compelling growth stories for our clients. This issue explains how our analysts are uncovering companies that are breaking new ground, leading their markets, and driving long-term value creation across market cycles.

Regardless of where markets and monetary policy head in the coming year, we will draw from the immense intellectual capital and perspectives of our colleagues around the world to deliver trusted advice and insightful solutions for your most important financial decisions. Please do not hesitate to contact me directly at CEOPerspective@williamblair.com with any questions or ideas for how we can better serve you. Thank you again for the trust you have placed in our people and our global platform.

Sincerely,

Brent

Brent Gledhill
President and CEO