Unhedged
The ethics of investing for dictators
Aug 29, 2024
Toby Nangle, a former asset manager and current journalist at the FT, delves into the murky ethics of investing for authoritarian regimes. He shares his journey from finance to journalism after grappling with moral dilemmas surrounding human rights abuses in sovereign wealth funds. The conversation highlights the tension between profit and personal values, stressing the need for ethical engagement in investment practices. Nangle also reflects on the political implications of these investments, like how they can serve dual economic and political goals.
23:52
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Quick takeaways
- Toby Nangle's departure from asset management reflects the growing ethical dilemmas faced by professionals managing funds for authoritarian regimes.
- The podcast emphasizes the importance of engaging ethically with sovereign wealth funds to address the moral implications of their investments.
Deep dives
The Moral Crossroads of Asset Management
Toby Nangle discusses his departure from asset management after realizing the ethical implications of managing money for authoritarian regimes. He highlights significant events, such as the assassination of journalist Jamal Khashoggi, which prompted him to reassess his professional contributions and values. Nangle reflects on the discomfort of serving clients who were implicated in heinous actions, suggesting that asset managers contribute to these regimes' power by enhancing their wealth. He emphasizes the dilemma of reconciling professional duties with personal ethics, raising questions about where to draw the line when it comes to complicity in unethical practices.
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