Conquer the perils of being a player manager

Joy Palmer, an executive coach, said that without help the player manager - someone who manages a team while also being a working member of it - could easily find that the dual task was too much for them.

Given the choice, many player managers focused on their individual clients at the expense of managing their team, Palmer told the forum in the City of London, attended by senior bank human resources executives and headhunters.

"They need to learn how to focus on the management part," she said.

Philip Augar, a writer who formerly worked in investment banking, told the forum that while firms in the City had a strong tradition of valuing players, some had less understanding of the need for good management.

Palmer listed several common mistakes made by player managers, including behaving like an individual star - which corroded team spirit - and being dismissive of the management process, for example by failing to take internal meetings seriously.

Successful player managers made a point of making the team feel involved in their decisions, she said.

Upward appraisal could help firms assess the performance of player managers more effectively.

Augar said some player managers should simply acknowledge that the role did not suit them and go back to playing. Otherwise, he said, they would become increasingly frustrated and unpopular until a 'tap on the shoulder' from their firm finally forced them out.