The Innovators’ Exchange by Oliver Wyman

Hiten Patel meets Victoria Stevens, a partner and fund manager at Liontrust Asset Management. Victoria discusses her unique career journey from financial journalism to asset management, highlighting the value of seizing opportunities and learning from challenges. She shares insights about her role, investment philosophy, and the importance of mid-cap companies in driving economic growth. Victoria emphasizes the significance of supporting ambitious companies for overall economic development. She addresses the current state of the UK stock market, including its underperformance compared to global markets and the implications for investors. The conversation also touches on the characteristics of successful growth-stage companies and how corporate acquisitions in the public market impact the industry. Key topics include: Philosophy of investment and economic growth: Victoria discusses how mid-cap companies are vital for driving innovation and economic development, as they create a ripple effect by investing in products and services. She also emphasises the importance of identifying intangible asset strengths in businesses to ensure long-term competitive advantages and strong returns. UK stock market dynamics: The conversation dives into the UK market and how it has underperformed due to capital outflows and a lack of recognition of its potential, presenting opportunities for long-term investors. Active versus passive investing: The discussion highlights the need for active management in public markets, especially in identifying long-term growth opportunities. Corporate acquisitions: Victoria shares her view on the dual nature of acquisitions and how it could be both is a sign of success and a challenge for long-term investors due to valuation pressures. This episode is part of Innovators’ Exchange, a podcast series that explores the financial infrastructure and technology landscape. Tune in for an engaging discussion of key themes and opportunities for both professionals and retail investors, touching on the transformative potential of artificial intelligence (AI) in financial markets. 

In this episode of the Innovators’ Exchange, Hiten Patel and his co-host Harriet Roberts welcome Daniel Maguire, CEO of the LCH Group and group head of London Stock Exchange Group (LSEG) Markets.  In their conversation, Daniel addresses the evolving role of London in the global financial ecosystem, particularly in light of recent geopolitical changes and market dynamics. He also discusses his extensive background in the financial industry, sharing insights into his entrepreneurial upbringing, his journey through various roles at LCH, and his current leadership position within LSEG. Amongst other things, he emphasizes the importance of truly understanding the details of the business while also highlighting the need for effective delegation and team empowerment.  Key talking points: Daniel’s background: Raised in a family-run engineering business, Daniel developed an entrepreneurial spirit early on, learning the value of hard work and initiative. As a teenager he took on various jobs — from paper rounds to working in pubs — and launched a small business selling free-range eggs. Career progression: Daniel joined LCH when it was a small organization of about 100-150 people. Starting in treasury operations, he built a solid foundation in financial markets and steadily rose through the ranks to become CEO of LCH Group. He also discussed how he navigated the shift from a mutual organization to becoming part of a public company under LSEG. London’s financial ecosystem: Daniel emphasized London’s resilience as a leading financial hub, citing regulatory reforms to boost competitiveness. He noted the global decline in IPOs and the parallel drop in London listings, while highlighting the rise of private markets and the need to bridge funding gaps as companies seek more flexible liquidity options. Future opportunities: Looking ahead, Daniel outlined LSEG’s strategy to stay globally relevant across asset classes. He stressed the growing role of data and technology in financial infrastructure, driving greater efficiency and smarter decision-making in an interconnected market landscape. 

In this episode of the Innovators' Exchange, Hiten Patel and Cosimo Schiavone interview Manish Gurukula, co-founder and CEO of Alacriti, a fintech company revolutionizing payment technologies. Manish shares his journey from software engineer to CEO, highlighting the importance of adaptability in today’s rapidly changing payments landscape.  Key topics include: Understanding payment ecosystems: Where Alacriti fits within the payment ecosystem and the critical technological infrastructure needed for seamless money movements. Career journey: From Manish’s education at IIT in India to modernizing payment technologies at Western Union and building Alacriti. Challenges in payment modernization: Obstacles financial institutions face in modernizing their payment infrastructures while navigating legacy systems. Future trends in payments: Emerging trends, including real-time payments, and the growing expectations of consumers and businesses for faster and more efficient financial interactions. 

In this episode of the Innovators Exchange, Hiten Patel interviews Almar Latour, CEO of Dow Jones and publisher of the Wall Street Journal. Latour discusses the evolution of Dow Jones from a traditional media company to an information services powerhouse, emphasizing the importance of reliable information in decision-making. He reflects on his diverse experiences as a journalist, his journey through digital transformation, and the current challenges posed by AI and generative technologies. Latour also shares personal insights on leadership, particularly in the context of advocating for justice.

In this episode, Hiten Patel and Archie Stebbings welcome Donal Smith, co-founder and chairman of Credit Benchmark, to discuss the role of aggregated credit data in the financial services industry. The conversation covers the evolution of credit ratings, the challenges faced by smaller companies in obtaining credit ratings, and the innovative approach Credit Benchmark takes to provide valuable insights from anonymized data collected from banks.Donal reflects on his career journey, the impact of data on capital markets, and the importance of persistence in entrepreneurship. He also shares thoughts on the future of data utilization in finance, particularly with the integration of artificial intelligence (AI).

In this episode of the Innovators Exchange, recorded live at the FIA Boca Raton conference, industry leaders Michael Syn, President, Singapore Exchange; Daniela Peterhoff, Chief Strategy and Transformation Officer, Nasdaq; and Anthony Attia, Global Head of Derivatives and Post-Trade, Euronext engage in a candid discussion about the evolving landscape of financial market infrastructures (FMIs) amid geopolitical uncertainties.They highlight a significant shift from a globalized to a more localized focus, with market participants increasingly concerned with regional issues rather than international dynamics. The conversation explores existential challenges facing FMIs, balancing shareholder returns with public policy responsibilities, and the need for a clear mission as they look toward the 2030s.

In this episode of the Innovators’ Exchange, David Benigson, the founder and CEO of Signal AI, meets with Hiten Patel and Archie Stebbings. David shares insights about his entrepreneurial journey, the inception of Signal AI, and the evolving landscape of risk management and compliance in the context of artificial intelligence (AI). He discusses the importance of external intelligence for large enterprises and how Signal AI leverages machine learning to provide actionable insights from diverse data sources. The conversation also explores the broader implications of AI technology, the challenges organizations face in adopting these solutions, and the future of augmented intelligence in business decision-making.

In this episode, Hiten Patel and Marcus Hoddinott interview Francois Cazor, the chairman of Kpler, a company that provides transparency in the commodities data space. Francois shares his journey from a corporate trading background to entrepreneurship, detailing the journey taken by Kpler in its early years, including a pivot from carbon credits to the more lucrative LNG (liquified natural gas) market.The conversation highlights Kpler's focus on product-market fit, the importance of customer feedback, and the company's cultural values of humility and ambition. Francois also reflects on the commodities market's evolution, data's role in democratizing access, and his personal transition from CEO to executive chairman.

Tara Anand Carter, a Partner at Hg, specializes in B2B software investments and has a keen focus on data and analytics. In this discussion, she unpacks the shifting landscape of investor interest in data markets, emphasizing the significance of strong intellectual property. Tara explores the balance of revenue streams, shares insights on customer retention metrics, and reflects on her transition from advisor to investor. The conversation also delves into the evolving data markets in energy and commodities, highlighting the role of AI and regulatory changes.

Christian Kromann, CEO of SimCorp, discusses the evolving landscape of financial technology and its impact on investment management. He shares insights from his impressive career merging mathematics with finance, highlighting the pivotal role of technology amid rising client demands. The conversation includes the challenges of leading international teams while maintaining work-life balance. Kromann also reflects on integrating personal passions like fitness and music into a fulfilling professional life, emphasizing adaptability as key to success.