Dakota Live! Podcast: Reentering with Rigor - Sean Poe on Manager Selection at Key Private Bank

May 21, 2025

Sean Poe, Director of Investment Manager Research at Key Private Bank, shares his journey from engineering to finance, revealing valuable insights on investment management. He discusses the seven P's framework for manager selection—people, process, performance, etc.—and introduces his innovative concept, 'Poe's Alpha.' The conversation covers the balance between skill and luck in investing, effective networking strategies, and the critical role of operational experience in making better allocation decisions. Listeners gain a fresh perspective on building trust and alignment in manager relationships.

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ANECDOTE

Sean Poe's Unconventional Career Path

Sean Poe shifted from engineering to finance inspired by a CFO's advice to pick finance over accounting.
He traversed roles from equity research, private investing to operations at Wayfair, Lowe's, and Angie before returning to investment management.

ADVICE

Network Authentically and Sustainably

When networking, have a clear purpose for outreach and aim to build authentic, lasting relationships.
Maintain connections by staying in touch periodically and ensure interactions are mutually beneficial.

INSIGHT

Seven P's Framework Spotlight on Partnership

Key Private Bank’s seven P's framework includes people, process, philosophy, performance, price, portfolio, and partnership.
Partnership is often overlooked but critical, as it reveals manager alignment and incentivization with the investment outcome.

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In this episode of the Dakota Live! Podcast, host Robert Morier welcomes Sean Poe, Director of Investment Manager Research at Key Private Bank, for an insightful conversation about investment philosophy, rethinking career paths, and the art of selecting managers across public and private markets.

With a dynamic background that spans equity research, private investing, and operating roles at firms like Wayfair and Lowe’s, Sean brings a unique perspective to portfolio construction and manager evaluation. Listen in to explore how Sean’s unconventional path has shaped his views on risk, alignment, and long-term partnerships—and how he's applying those lessons at Key Private Bank, where he oversees manager research and multi-strategy portfolios within a $60 billion platform.

Listeners will gain insight into:
• Key’s seven P’s framework for manager research—from people to partnership
• How "Poe's Alpha" measures real-world investment friction
• Building trust and alignment in manager relationships
• Why operational experience makes for sharper allocators
• The evolving role of fund structures, from SMAs to evergreen private equity
• Lessons in networking, career pivots, and transparent storytelling

Whether you’re an asset manager seeking to stand out or an allocator curious about evaluating skill vs. luck in today’s markets, this episode offers practical wisdom and fresh perspective from a seasoned decision-maker who's been on both sides of the table.

Key Private Bank is the marketing name through which KeyBank National Association (KeyBank) provides a range of financial products and solutions.

This material is presented for informational purposes only, and is not intended to be an offer, recommendation, or solicitation to purchase or sell any security or product or to employ a specific investment strategy. KeyBank does not, nor do its subsidiaries or affiliates, represent, warrant, or guarantee that this material is accurate, complete or suitable for any purpose, situation, or any investor and it should not be used as a basis for investment decisions. It is not to be construed as individual tax or financial advice, nor relied upon or used in substitution for the exercise of independent judgment.

Any opinions, projections, or recommendations contained herein are subject to change without notice, are those of the individual author(s), and may not necessarily represent the views of KeyBank or any of its subsidiaries or affiliates.

Banking products and services are provided by KeyBank, Member FDIC. Trust and certain custody and investment management products are provided by KeyBank, a national bank with fiduciary powers. KeyBank is an Equal Housing Lender. All loans provided by KeyBank are subject to underwriting, credit, and collateral approval, in addition to origination or other transaction fees. Financing availability may vary by state. Restrictions may apply NMLS ID 399797.

Investing involves risk, including potential loss of principal amount invested. There is no guarantee that investment objectives will be achieved. Past performance does not guarantee future results. Asset allocation and diversification do not guarantee returns or protect against losses.

Non-Deposit products are:
NOT FDIC INSURED ● NOT BANK GUARANTEED ● MAY LOSE VALUE ● NOT A DEPOSIT ● NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY