The Fiftyfaces Podcast

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.

Les Bond is CEO at Attucks Asset Management, a firm he founded over 20 years ago.  Attucks is an MBE-certified registered investment advisor which builds portfolios of emerging investment managers- in particular female and minority owned firms. Our conversation traces Les's college days where a major in sub-Saharan African studies kickstarted his interest in economics and trade.  This saw a trip to Cuba and visits to Sugar Plantations where he saw the promise of but fraught nature of diplomacy and brokering deals. We then see how he got his start in the industry, and how his time in Atlanta, interacting with successive mayors of the city, taught him how politics could be instrumental in forcing change, targets and the role of public pots of assets. We turn then to the genesis of Attucks Asset Management and the role that it plays in not only promoting and amplifying emerging and minority owned managers but also in nurturing them through guidance and feedback. 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.

Kerry Duffain is head of institutional client solutions at Fidante Partners.  She has had a long career, that has involved over two decades of working with institutional investors and consultants, but also a number of other intriguing positions, such as her first position - as a newsreader of English news in Bahrain. This ability to improvise, adapt, work hard and step outside her comfort zone has been a constant throughout her career - which has seen Kerry move around the world - in industries involving factory floors, a brewery, engineering electronics, until she finally became "hooked" on finance.Kerry has built businesses large and small, but what remains the same is her sheer hard work, her persistence and her ability to pivot and adapt. She isn't deterred by getting a no - she sees the positive in at least getting an answer - and the potential for building a relationship that is solutions focused. She shares that in building businesses to be successful one needs to be like a three legged stool, with a business focus, a client focus and a focus on how the business operates. Kerry, of course, makes fusing these three look easy. 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.

LaRoy Brantley is a managing principal at Meketa Investment Group. He has over 20 years experience in an investment consulting capacity. We first met when we joined Cambridge associates earlier in our careers. He has had multiple public fund board positions and has a particular focus on raising awareness of diverse investment managers. Our conversation starts with LaRoy's unconventional path into investments - he was a classics major and following his degree spent seven years as a teacher, until his blended love of languages, classics and technology saw him pursue a graduate degree at MIT. We reflect on the learnings that can come from classics - the attention to detail, the approach to education and conveying information, and the focus on creating institutions that endure.Now he invests his time, talent and treasure across his consulting work and work on boards, particularly college boards.  We talk about his investment discipline, as well as his commitment to amplifying emerging managers and forcing those sometimes uncomfortable conversations that lead to change - LaRoy believes that discomfort has its place on a constructive path to improvement. Please enjoy this tour through core investment beliefs, market truths and an educator's view as to how our industry can grow. 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.

Sinead Colton Grant is Global Head of Investor Solutions at BNY Mellon, based in NYC.  She has over 25 years of global multi-asset experience across investment and wealth management in both Europe and the US, and started out in derivatives sales and later currency management. She was included in the 2022 Worth.com groundbreakers list https://www.worth.com/groundbreakers2022/Our conversation starts with Sinead's upbringing in Ireland and her family history of "strong women" where she grew up believing that any career was open to her and that no area was off limits.  We tracked then her entry into financial services, the world of trading and where she learned her craft.Moving now to the realm of investment solutions we ask what this burgeoning area actually means for clients and find out how she is thinking about this area in light of growing geo-political uncertainty, inflation and the rising awareness of ESG risks. Given Sinead's experience in currencies, we talk at length about currency exposures in portfolios, whether and how to hedge exposure and how to think about volality. Finally she reflects on role models who have influenced her throughout her life, from a finance lecturer who enlightened the classroom with vignettes from the financial field to other industry figures. We speak about the importance of self-advocacy, about communicating as a leader and about having a career plan. It is an empowering conversation that I hope you enjoy.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.