The EY Podcast

In this episode of The EY CEO Outlook Podcast Series, Enda McMahon of Blackrock Asset Management Ireland, joins host Richard Curran to talk about his journey from the public sector, where he worked with Ireland’s C&AG and Financial Regulator, to his current leadership position with the world’s largest asset manager, and the valuable lessons he has learned along the way. Blackrock is the world's largest asset manager with approximately $8 trillion in assets under management. The company’s purpose is to help more and more people experience financial well-being. For Enda McMahon, CEO of Blackrock’s Irish operations, a core part of the mission is to empower people to have ‘dignity in retirement’.  Enda not only has a professional background in compliance and regulation, he has a passion for it. For him, trust is at the heart of a properly functioning financial system and his career has always involved making sure that ‘people are doing the right thing, backed with integrity’.  They discuss: ·        Enda’s experience of moving from the public into the private sector, and how this required him to become less ‘purist’ around compliance.  ·        The importance of building strong relationships based on trust between financial services companies and regulators, and how that is achieved. ·        The power of active listening and understanding the position and priorities of stakeholders.  ·        How and why Blackrock has repositioned all of its products towards sustainability, and why customers need to be protected against ‘green washing’. ·        Blackrock’s ongoing journey to becoming a more diverse and inclusive organisation. 

With clients in over 100 countries and a global team of 105,000+, CBRE is one of the world’s leading commercial real estate services & investment companies. As MD of CBRE’s Irish operations, Myles Clarke has a bird’s-eye view of Ireland’s current and future commercial activity, FDI footprint, and the nature of the post-covid workplace. He is also plugged-in to the incredibly fast-changing importance of environmental sustainability and clients’ demand for highly efficient commercial properties.  In this episode of The EY CEO Outlook podcast Myles Clarke joins host Richard Curran to talk about his ambitions for CBREIreland, what the commercial real estate market can reveal about a country’seconomy, and his leadership style. They also discuss: ·       The changing nature of FDI in Ireland – increasingdiversification and decreasing reliance on tech and on being fully based inDublin.   ·       The future of retail and balancing ‘bricks and mortar’ withan online presence.  ·       Why Myles and his family decided to move from London andsettle in the small village of Fanore, Co Clare.  ·       The power of keeping things simple and why clients and customers value it somuch.  ·       His leadership style – being thoughtful, delegating correctly, and speaking one’smind.  

Sara Venning was appointed CEO of Northern Irish Water in 2014. A love of hard work, solving problems, and improving systems and processes attracted Sara to an industry that is ‘always on’, such as a public utility. It is a sector with its own unique challenges, and Sara thrives on finding a way through them.  These challenges include competing for funding from the same pot that education and healthcare also draw from, finding a solution to Northern Ireland’s above-average water wastage, and the pressure of reaching net zero status.   They also discuss:  How Sara fell in love with improving processes and driving efficiencies at a young age while working in the family business.  Weathering the ‘big freeze’ of 2010 and dealing with the fallout of less-than-optimum customer communications at the time.  Why STEM subjects are still attracting such low levels of female students.  The challenge of trying to convince householders to use less water.  As Northern Ireland’s biggest user of energy, how the company plans to reach net zero in terms of energy-use by 2030. 

In this episode of The EY CFO Outlook Podcast, TJ Kelly, Group CFO of Origin Enterprises, tells host Vincent Wall the remarkable story of a career spent in the finance function of some of the world’s most iconic companies. He shares the lessons he has learned along the way, from people management and investor relations, to strategic international expansion and building a brand.Growing up in the family business in Co Kilkenny, TJ Kelly learned the basics of commerce from a very young age. His favourite subjects in school were Business and Accounting and he went on to train as a chartered account immediately after completing the Leaving Cert. So began a career in finance that has spanned some of the best-known and most successful companies in Ireland and the US, including General Electric (GE), Microsoft, Glanbia and Hostelworld. With each role, TJ learned an invaluable lesson – from Treasury management and raising equity during highly turbulent times, to effective communication with investors and the power of branding. Each string added to his bow led Kelly closer to the senior role he holds today, as Group CFO and Executive Director of Origin Enterprises. Having spent many years in senior roles with Glanbia, joining Origin - another big player in the Agri sector - felt “like putting on an old pair of shoes”. Despite having a deep familiarity with the sector, it is one in a state of flux, and Kelly’s key priorities now centre on the sustainable use of land, yield optimisation, ensuring security of global food supply, and playing a key role in emerging Nature Economy.TJ and Vincent also discuss:·       Working in Microsoft at a time of incredible innovation, including the launch of the Xbox and Windows XP·       GE’s Jack Welch and his infamous people management style ·       The future of Farming and driving innovation in the sector. ·       How he maintains contact and communication with the finance teams across the whole group·       The experience of trying to raise capital for Hostelworld during Covid-related lockdowns·       The leaders he most admires. 

In this episode of The EY CEO Outlook podcast series, Dominic MacSorley tells host Richard Curran the remarkable story of a career spent finding hope in despair, travelling the world to care for the survivors of crises, and running an organisation with over 4500 staff across 25 countries. Dominic MacSorley’s first role with Concern Worldwide was a baptism of fire. Posted to the Thai-Cambodian border aged 26, Dominic thought he would be building a school in a quiet village; rather he ended up deep in a conflict zone, working in vast camps that housed over 350,000 refugees. Here, he learned an early lesson – that an organisation like Concern does not just provide people living in these conditions with education and healthcare, but also  with a valuable feeling of protection – “it’s not just what you do, it’s the fact that you’re there”.  Since then, MacSorley has led the organisation’s emergency responses to some of the world’s most serious humanitarian crises, in countries including Rwanda, Kosovo, Afghanistan, Darfur, the Democratic Republic of the Congo, and Haiti. In 2013, MacSorley became CEO of Concern Worldwide. Such a long career in such a challenging field, he explains, relies on the ability to see past the awfulness of the situation, to the potential of what it can become.   They also talk about: How he and his team narrowly escaped detention by Saddam Hussein’s forces The importance of hiring the right people – “‘we don’t control the situations we’re in, but we do control the quality of staff we put in there“ His experience working through the aftermath of the Rwandan genocide and watching that country become safer and more developed than he ever could have expected.  The mindset required to thrive in a role such as his, and his constant struggle to achieve a work-life balance.  The importance of fundraising and corporate partnerships to ensure Concern Worldwide can provide immediate relief in emergency situations  

“I think we have a real opportunity here for Ireland to be the shining example of how a health system could be delivered.” In this episode of The EY CEO Outlook podcast series, Bill Maher, Group CEO of the Bon Secours Heath System, tells host Richard Curran the story of his journey from Ireland to the UK and back again, what he has learned about world-class healthcare delivery along the way, and his vision for Ireland as a shining light in patient care.Bill Maher has high hopes for Ireland’s health system. Having spent over 30 years working in healthcare leadership roles both in Ireland and the UK, Maher is clear about why Ireland’s current system is not working to its fullest potential, and what needs to be done to fix it. One of the priorities, he believes, is to ‘declare war on waiting’ – specifically, hospital waiting lists, which Maher believes can be solved with ‘ruthless efficiency’ and a ‘zero-tolerance’ approach.  Maher’s optimism for Ireland’s health system is part-based on the twenty-plus years he spent in management roles in the UK’s NHS. As Group CEO of the Bon Secours Heath System – Ireland’s largest private healthcare provider - Maher is in a position to apply many of those learnings in his current role; and the result are showing, with group revenues, staff numbers and quality of care all growing sharply since he took the position.  They also discuss: ·        Bon Secours’ not-for-profit financial structure and the policy of investing everything back into staff, facilities, and patients.   ·        Maher’s leadership and communication style and how he ensures that all 3500 of his team members feel purpose-driven and appreciated.  ·        What getting up at 4.30am every day has helped him to achieve.  ·        What Star Trek’s Captain Kirk and Richard Branson have taught him about powerful leadership  

In this episode of The EY CEO Outlook podcast, Jason Ward, MD of Dell Technologies Ireland, tells host Richard Curran about his personal and professional journey to the top of one of Ireland’s most significant companies, his priorities for the role, and how Dell is leading digital, IT, security, and workplace transformation. .......................The story of Dell in Ireland is a fascinating one. Founded by Michael Dell in 1984, the company opened its Irish operations six years later, and quickly became one of the country’s most significant employers and exporters. The economic recession saw Dell cut 1900 jobs in Limerick in 2009, but in the intervening years Ireland has grown to become one of Dell’s key strategic hubs, providing high value client solutions and a world class lab.  Jason Ward has been a key player in this transformation and evolution of Dell. Having held several leadership positions in the company, Ward was appointed Vice President and Managing Director, Dell Technologies Ireland in 2020. He now leads a workforce of 5000 people across three locations in Ireland, and is part of a global leadership team driving forward the next chapter in Dell’s continuous evolution.  They also discuss: How Michael Dell’s drive for growth and transformation has created a dynamic company culture of continuous change, agility, and progression.  The sophistication of modern day cyber criminals, and how most companies don’t understand how to recover from cyberattacks (attacks which happen every eleven seconds). The rise of the ‘co-bots – robots that work in partnership with people and that help free humans up to do higher value, more meaningful tasks. Ward’s admiration for Elon Musk – when people say it can’t be done, Musk finds a way to do it. Data as the new oil, and how to protect mission-critical information. 

In 2008, Mainstream Renewable Power was born out of a belief that renewable energy would become a mainstream asset class. At the time, renewable power was not as popular or investable as it is today, but the company founders had a vision that it would soon become ‘front and centre’ to how we live our lives, and backed themselves accordingly. Today, Mainstream is valued at over 2bn, employs 500 staff, and it is eyeing a potential IPO. Central to this success story is Group CFO, Paul Corrigan. Having joined the company in 2008 in a corporate finance function, Corrigan succeeded in continually raising capital throughout a very challenging period when money was scarce and expensive. Moreover, Mainstream’s strategy of investing in emerging markets around the world ruled out many risk-averse investors. However, the company’s long-term play is now bearing fruit, attracting the attention of two major investors, Aker Horizons and Mitsui & Co, who between them now own over 80% of the business.   In this episode of The EY CFO Outlook podcast, Mainstream Renewable Power Group CFO, Paul Corrigan, tells host Vincent Wall the remarkable story of how an Irish start-up scaled rapidly to become one of the world’s first pure-play renewable energy majors. They also discuss:  Eddie O’Connor’s original vision for the company, how he got his team and investors on board, and Paul’s admiration for O’Connor’s entrepreneurial drive.  Why the company has focussed on emerging markets and less-developed countries, and the advantages of that strategy. The game-changing deal that put Mainstream in control of its own destiny. How the company and Paul’s role have changed following investment from Aker Horizons and Mitsui & Co. Becoming CFO in 2020, and negotiating major investments in the new role, fully remotely.  The factors and considerations around a potential IPO.  

“I became obsessed by the creativity of the business world” In this episode of The EY CEO Outlook podcast series, Deborah Kelleher tells host Richard Curran the story of her childhood love of music, her rise to the highest levels of musicianship and academia, and subsequent transition to business and leadership in the Royal Irish Academy of Music. Deborah Kelleher started playing piano at the age of seven and so began a devotion to music that was to dominate her formative years. Coming from a highly musical family, Deborah was surrounded by the people and structures that helped her to excel as a pianist and, for her, the future was clear - “I became so immersed in the music and the life that I couldn’t imagine doing anything else”. However, Deborah began to realise that the skills she had built in the world of music were highly transferrable to that of business and leadership – lateral thinking, problem-solving, creativity and discipline. And so, after completing a ‘game-changing’ MBA, Deborah joined the Royal Irish Academy of Music, and has been Director of the organisation since 2010.  They discuss: The difficulty of taking on a leadership role at the height of the recession in 2010 and how Deborah navigated early challenges around redundancies and funding. If the film Whiplash is an accurate depiction of modern musical tuition.  The importance of prioritising one’s personal best. Deborah’s vision for the RIAM. 

In this episode of the EY CFO Outlook podcast series, NTR plc CFO Marie Joyce tells host Vincent Wall the story of her rise through the ranks of companies including Arthur Anderson, Elan, and Irish Broadband, to her current role, securing a green future with NTR plc.Established in 1978 to build Ireland’s first toll bridge, NTR plc has been investing in sustainable infrastructure since 1999. Solely focussed on investments in onshore wind, solar, and battery storage, the company now manages 1bn of capital in clean energy projects across 45 sites in 6 European countries.  As NTR plc’s CFO, Marie Joyce’s role includes designing funds that are attractive to investors, raising debt alongside that equity, building the assets on time and on budget, and ultimately delivering on promises and expectations. Alongside the company’s energy projects, Marie believes that one of NTR plc’s key assets is its reputation. Indeed, it was the company culture that first attracted her to join: “entrepreneurial partnership, direct, honest, very straight, what you see is what you get; which our investors, employees, and stakeholders really appreciate”. Vincent and Marie also discuss: ·       The valuable lessons she learned about sales and negotiation during one of the most difficult times of her career ·       The immense volatility in energy infrastructure costs and the price of power, and the challenges it is presenting.  ·       The importance of having systems that turn ‘too much information’ into something useful and actionable.  ·       Her advice to other CFOs – “keep the personal touch and develop relationships”.