The Fiftyfaces Podcast

Zia Uddin is President of Monroe Capital LLC, an asset management firm headquartered in Chicago, which invests in middle market companies in North America through a range of products. Prior to joining Monroe he focused on middle market private equity investing for most of his career. Currently, he sits on a range of private company boards, as well as on the Board of a public company. We start out by discussing Zia's upbringing, which saw him spend time in Indonesia and South Korea, before returning to study at the University of Illinois. We move then to his current role at the helm of Monroe Capital, which runs over $14 bn in assets focused mainly on the middle-market segment - we discuss the opportunity in this segment, whether it is overlooked and the unique challenges and opportunities that focusing on it brings. We examine private capital through a lens of ESG investing, and ask what kind of protection it might offer in a rising rate and inflationary environment.After a detailed discussion of diversity in investment management we move to personal reflections and Zia shares the saying that "the problem with the world is that intelligent people are full of doubts, while the stupid ones are full of confidence" and we examine the problems of overconfidence among financial sector actors.We move then to one of Zia's passions, which is the Japanese art of Kendo.  We speak about the art aspect of martial arts, and what it taught him about "mind over matter", discipline, self-control and what lies beyond the border of physical limitations. Series 4 was sponsored by Alvine Capital.  Founded in 2005, Alvine Capital is a specialist advisor and placement boutique focusing on assisting European Institutional Investors within Alternative Investments.  It partners with best in class managers, adding value to investors by helping to navigate this very fragmented market

Eve Ellis is a wealth advisor with William Blair, and is based in the New York City Area. She has a particular interest in socially responsible and impact investments and manages two proprietary portfolios, the gender parity strategy, and the Matterhorn Affinity, Diversity and Inclusion strategy. She's also a member of the Forum for Sustainable and Responsible Investment. She has received multiple awards, including featuring on the Crain's New York Women and Financial Advice naugural list in 2020 as well as the Forbes America's Top Women Wealth Advisors best in state.Our conversation starts with Eve's background in playing competitive tennis - we discuss what that taught her about gamesmanship, playing to win, and discipline. We transition then to her calling to act as a private wealth advisor, and how she had the same instincts to "win" and deliver for her clients.  She had an early interest in investing with impact and developed the proprietary gender parity and diversity and inclusion strategies based on a high conviction that companies who prioritize these issues deliver better returns over time. We dig in to these strategies in particular and ask what she learned from developing them and whether there were any surprises. As a "feminist forever" Eve has had a unique perspective on the world of private wealth, as well as the workings of corporate America, its record in terms of gender parity and levels of wealth in the hands of women today. Eve wished me to note that her comments on this podcast were made in advance of the recent US Supreme Court Decision on Roe v. Wade.Series 4 was sponsored by Alvine Capital.  Founded in 2005, Alvine Capital is a specialist advisor and placement boutique focusing on assisting European Institutional Investors within Alternative Investments.  It partners with best in class managers, adding value to investors by helping to navigate this very fragmented market

Aaron Joseph is Senior Vice President of Investor Solutions at Blue Vista Capital Management, a Chicago-based real estate investment manager focused in particular on middle market equity, student housing and real estate credit. He previously worked as Deputy Sustainability Officer in the Office of the Mayor in the city of Chicago, and as a Strategy Manager at Urban Partnership Bank focused on providing banking services for impact capital and urban real estate investors.Our conversation starts with Aaron's family upbringing, the promise of inclusion that brought them to the Oak Park area outside Chicago and his early interest in art history.  We trace his path to real estate, which actually meandered through engineering, which is where his interest in sustainability first took root. We follow his path into the Urban Partnership Bank, and the focus on impact that that had - whether to combat red-lining or extend credit to disenfranchised populations, many of whom were essentially "unbanked".  Aaron spent time in the high-profile Mayor's Office of the City of Chicago, where he saw the usual policy and political battles, but also the efficacy of some measures to ensure sustainable change and more equity. We move then to his current role at Blue Vista, and cycle through the various sectors that they focus on - including in particular student housing and more esoteric areas such as RV parks and self-storage.  We examine the rapidly changing dynamics in these areas and why the investment opportunity might be less obvious, but nonetheless compelling.We end with Aaron's reflections on his career to date, how his learnings in Latin at Oak Park and River Forest High School taught him to "carpe diem" or seize the day, and how the leaving his MBA studies during a financial crisis taught him some essential survival and adaptation skills professionally. Series 4 was sponsored by Alvine Capital.  Founded in 2005, Alvine Capital is a specialist advisor and placement boutique focusing on assisting European Institutional Investors within Alternative Investments.  It partners with best in class managers, adding value to investors by helping to navigate this very fragmented market

Cynthia Steer has had a multi-decade career in investment management, spending time as an investment director, CIO, and Chief Retirement Strategist at a series of large consulting firms, and she now holds a broad range of investment committee and independent director roles.We start by discussing Cynthia's global career, which saw her based in the US but travel frequently around the world at the helm of strategy and research at prominent consulting firms.  We ourselves met on the investment conference circuit and we share how she has witnessed the investment management industry evolve over her career. We discuss the benefit of not remaining a generalist and of developing deep sector expertise, how every dollar counts ultimately, and how it is important to trust, but verify, when it comes to so-called market opportunities. Cynthia also shares stories of the coaches that influenced her in her very early years of growing up in Canada - the ice skating mentors to taught her to execute demanding technical exercises and "get up and try again" when she failed. She shares gems of wisdom shared by other legends in the investment management industry - who taught her to select a key number of topics each year to focus on and really develop deep expertise on - excellent advice for the dynamic world we live in.  Finally we reflect on some of the industry challenges around diversity and inclusion and Cynthia shares her own experience in this respect.  How sector and specialist expertise enabled her to distinguish herself and how she might now, upon reflection, wish she had carried a "softer stick" along the way. We explore what this means and what advice young women might take from that as they pursue a role in the industry.Series 4 was sponsored by Alvine Capital.  Founded in 2005, Alvine Capital is a specialist advisor and placement boutique focusing on assisting European Institutional Investors within Alternative Investments.  It partners with best in class managers, adding value to investors by helping to navigate this very fragmented market

John Bowman is executive Vice President of the Caia Association, and a prolific writer and commentator on the investment management industry. He has written about the subject of culture, restoring the virtuous reputation of the industry and ensuring that dialogue and education are maximized, particularly in the area of alternative investing.Our conversation starts with his thoughts on being a "man without a country" - his peripatetic youth and how having family in the investment management industry formed an impression on him from an early age.  We jump straight in then to a host of issues on which he has a unique vantage point at the helm of an industry association committed to education, dialogue and ongoing improvement. We start with the controversial topic of alpha generation - whether it remains possible in an environment that is flooded with data, quickly updated news cycles and crowding out of certain strategies.  We focus in particular on the future for alternative assets - how these strategies are evolving and what are likely to become the most relevant strategies for the next decade.We move then to the critical area of culture within the investment management industries and firms in particular - looking at the divide between investment-led and sales-led firms and what an aspirational culture for the industry as a whole might be. We move then to the disruption that Covid wrought and how that has altered the state of the investment management industry and to the increased integration of ESG risks and evolution of ESG-focused strategies. We end then with a reflection on the mentors that have shaped him, the importance of faith in his life and trusting his own instinct. It is a wide-ranging discussion with particular relevance to the dynamic times we are living in.Series 4 was sponsored by Alvine Capital.  Founded in 2005, Alvine Capital is a specialist advisor and placement boutique focusing on assisting European Institutional Investors within Alternative Investments.  It partners with best in class managers, adding value to investors by helping to navigate this very fragmented market

Heather Brilliant is the President and CEO at Diamond Hill Capital Management, a $30 billion asset manager headquartered in Columbus, Ohio. She previously was Chief Executive Officer Americas at First State Investments and prior to that was CEO at Morningstar, Australasia, and formerly Global Head of Equity and Credit research. She's had a career long involvement with the CFA Institute globally, and was formerly Chairman of the Board, as well as a Director and Board Member for over seven years. Our conversation starts with Heather's upbringing, and the inspiration she derived from her grandmother - a true pioneer in investing at a time when few women might have been investors.  We trace her own journey into investing and finance and the serendipitous turns that saw her take the helm at Morningstar's Australasia operation after a stint as Head of Research.We examine the impact of changing country and the cultural adaptation involved, and reflect on some outstanding mentors that Heather had access to during this time.  Now in a leadership role at an asset management firm focused on active management we cycle through a host of topics - from the future of active v. passive investment, to the role of ESG integration, to the challenge of retaining talent and how to nurture a team.We also spend some time on her involvement in the CFA Institute and reflect on how that organization has evolved for the modern industry.  We look at the future of investment committee and board roles and the skillset that is involved for each.Heather reminds us that when we look for role models all that we see are the accomplishments and the finished products and not the false starts, the errors, the u-turns - all of this is "left on the cutting room floor".  Series 4 was sponsored by Alvine Capital.  Founded in 2005, Alvine Capital is a specialist advisor and placement boutique focusing on assisting European Institutional Investors within Alternative Investments.  It partners with best in class managers, adding value to investors by helping to navigate this very fragmented market. 

James Penney is Chairman of Darwin Alternative Investment Management Ltd, a firm that offers innovative alpha driven investment solutions for long term investors. Our conversation covers his exceptionally diverse background, and his experience with studying theology, languages and living in Latin America doing mission-based work.Our conversation starts with his varied university career, and how he landed an 18 year old's dream job as a whisky salesman in Venezuela. What he saw there motivated him to change his major in law to one of theology and during his summers he spent time working in a Benedictine community in what was then conflict-torn Lima. James describes some of the experiences there that haunted him, including visits made to a prison, and we reflect on what he took from those experiences in terms of a deep respect for the human spirit, a desire to further their dignity and to appreciate their resilience.We then cycle back to his professional journey and his initial emergence from academia into a consulting role and then the founding of Darwin Alternative Investment Management.  We speak about some of the esoteric strategies pursued by the firm, including investing in bereavement focused industries which are largely fairly fragmented.  These include crematoria and funeral homes.  By consolidating and improving the efficiency of these organizations Darwin can ensure a more dignified experience for users and more equitable pricing. In his personal reflections James shares his insights as an entrepreneur, including the importance of getting things in writing, the visceral nature of running such a large level of personal financial risk and the lessons learned from a life in both academia and investing. He also counsels us to never confuse enthusiasm for a check. Darwin Alternative Investment Management kindly sponsored our Next Chapter podcast series focused on individuals at later stages of their careers developing plural roles and sharing their wisdom.  Given the firm's focus on ensuring the dignity of individuals at every stage of their life it was. a perfect supporter of our own mission of amplifying these voices.Series 4 was sponsored by Alvine Capital.  Founded in 2005, Alvine Capital is a specialist advisor and placement boutique focusing on assisting European Institutional Investors within Alternative Investments.  It partners with best in class managers, adding value to investors by helping to navigate this very fragmented market. 

In our summer Series 4 of the 2022 Fiftyfaces Podcast we invite you to see our industry through fresh eyes through hearing the stories of 10 extraordinary professionals.  We hear of the training and perspective obtained through playing tennis at a professional level, challenging ice-skating routines and practicing the ancient Japanese martial art of Kendo.  We hear about formative life experiences, such as mission-work in a violence-rocked Latin America as well as the challenges of becoming legally blind early in one’s career.  We hear about life’s setbacks, and how we rarely see the failures or false starts that end up on the cutting room floor, and about the importance of breadth v. depth as well as the importance of nurturing the variance in life as well as investing. So take time during your summer road trip or plane journey to recharge and arrive inspired.  Hear from these 10 inspiring guests: James Penney is Chairman of Darwin Alternative Investment Management Ltd, a firm that offers innovative Alpha driven investment solutions for long term investors. He has had a varied background that involved time doing mission-based work in Latin America during his study of theology, he has spent time as an academic and as an consultant before developing his asset management business.  Darwin Alternative Investment Management, through its investment products promotes the dignity of people at every stage of their lives, and is the sponsor of our Next Chapter podcast series.  Heather Brilliant is the President and CEO at Diamond Hill Capital Management, a $30 billion asset manager headquartered in Columbus, Ohio. She previously was Chief Executive Officer Americas at First State Investments, and prior to that was CEO at Morningstar, Australasia, and formerly Global Head of Equity and Credit Research. She's had a career long involvement with CFA Institute globally, and was formerly Chairman of the Board, as well as a Director and Board Member for over seven years. John Bowman is Executive Vice President of the CAIA Association, and a prolific writer and commentator on the investment management industry. He has written about the subject of culture, restoring the virtuous reputation of the industry and ensuring that dialogue and education are maximized, particularly in the area of alternative investing. Cynthia Steer has had  a multi-decade career in investment management, spending time as an investment director, CIO and Chief Retirement Strategist at a series of large consulting firms, and she now holds a broad range of investment committee and independent director roles. Aaron Joseph is Senior Vice President Investor Solutions at Blue Vista Capital Management, a Chicago based real estate investment manager focused in particular on middle market equity, student housing and real estate credit. He previously worked as deputy sustainability officer in the Office of the Mayor in the city of Chicago, and as a Strategy Manager at Urban Partnership Bank focused on providing banking services for impact capital and urban real estate investors.  Eve Ellis is a wealth advisor with William Blair. She has a particular interest in socially responsible and impact investments and manages two proprietary portfolios, a gender parity strategy and a dedicated diversity and inclusion strategy. She is also a member of the Forum for Sustainable and Responsible investment. She has received multiple awards, including featuring on the Crain's New York Women and Financial Advice inaugural list in 2020. And the Forbes America's Top Women Wealth Advisors Best in State. Zia Uddin is President of Monroe Capital LLC, an asset management firm headquartered in Chicago, which invests in middle market companies in North America through a range of products. Prior to joining Monroe he focused on middle market private equity investing for most of his career. Currently, he sits on a range of private company boards as well as on a public company board. Jason Mitchell is co-head of responsible investments at Man Group, and the host of a sustainable future podcast at the Man Institute, a podcast that he has hosted since 2018, and has now passed its 55th episode. He writes and speaks widely on sustainability issues, as well as serving on a number of committees such as Esmee Fairbairn Foundation, and World Bank Carbon Pricing Leadership Coalition. Matt Sherwood, Ph.D. is Co-Founder and Chief Executive Officer of WeVidIt Media, a video streaming platform that leverages data and analytics for a more inclusive and profitable entertainment industry. We met while he worked as an asset allocator, where he headed up public market investments for MMBB Financial Services.  He has spent time as a guest lecturer and an appointed professor at Columbia University and The King’s College in New York, and has authored a textbook on the topic of ESG Investing. He is a board member of the Guide Dog Foundation and American Vet Dogs and serves on the Lavelle Fund’s Investment Committee. Steve Kim is a partner in investment strategy and risk management at Verdis Investment Management in the Philadelphia area. He has focused over 30 years in his career in implementing and managing operating infrastructures. Prior to his role at Verdis he held various Chief Technology Officer roles, he now focuses on integrating his insight from systems modeling and data analysis into an investment approach, particularly in the venture capital arena. All of our podcasts are available on Apple Podcasts, Spotify and all major podcast channels.  You can find all of our content on the Fiftyfaces Hub (fiftyfaceshub.com) including resources and other material to enhance your career.

Matteo Dante Puccio, is President International  and a Partner at Wave Financial Group. He's had an extensive career across the wealth management, VC tech investing and family office space. He's currently focused on digital assets at Wave Financial Group.Our conversation starts with Matteo's first love, which was for theatre.  We hear how being raised in the US by an Italian family formed his global attitude and reach, and how his acting training laid down some essential skills that he still draws upon today - the power of communication, performance, reading the room and relating to people. His knowledge of Italian got him a job at an Italian bank, and his surprising affinity for all things financial saw him transferred back to the Italian headquarters.We turn then to his management style, as having cycled through many different types of roles as well as market cycles, managing people has been a core part of his success. We turn then to his current role in the digital assets arena and hear about the complexity and range behind the convenient labels and heuristics in this space.  It is a range that defies easy classification, and in our discussion he draws out the nuances in different kinds of digital assets and the different roles that they can play.  Bitcoin, NFTs, ESG aspects of digital assets . . a lot of ground is covered in this rich discussion. Finally we reflect on lessons learned through decades in a relatively volatile area of finance - lessons in humility and in what really counts.  Series 3 is brought to you with the kind support of Federated Hermes, Inc., a leading global investment manager. Guided by their conviction that responsible investing is the best way to create wealth over the long term, their investment solutions span equity, fixed-income, alternative/private markets, multi-asset and liquidity strategies and a range of separately managed accounts, distributed through intermediaries worldwide.

Deirdre Cooper  is Co-Head of Thematic Equity at Ninety One, with a particular focus on sustainable investing.  She is an Advisory Board Member at the Imperial College Centre for Climate Finance and an Advisory Board Member of Girls Who Invest.  She previously founded the Clean Tech group in Morgan Stanley where she worked in M&A in London and Menlo Park. Our conversation starts with her Irish roots, and her early days in investment banking, where her interest in sustainability started to take root.  When she mentioned a stint focusing on micro-finance in Lahore, Pakistan, I couldn't resist spending some time on this aspect of her experience, and the impression it made on her as well as what it taught her about how we can create impact, but how difficult it is to measure it. Climate tech and clean tech have been a focus of Deirdre's for well over a decade and we examine how that has informed her new role as head of thematic equities and portfolio manager of a sustainable equity fund at Ninety One. We then turn to greenwashing and whether it is a problem in an industry where products are continuing to proliferate. We finally turn to words of wisdom and are reminded not to be afraid to ask questions.Series 3 is brought to you with the kind support of Federated Hermes, Inc., a leading global investment manager. Guided by their conviction that responsible investing is the best way to create wealth over the long term, their investment solutions span equity, fixed-income, alternative/private markets, multi-asset and liquidity strategies and a range of separately managed accounts, distributed through intermediaries worldwide.