The Fiftyfaces Podcast

Bola Tobun is Investments and Treasury Manager at the London Borough of Enfield. She is a frequent participant on the local government conference circuit, which is where we met, and she has a long history of experience in pension fund roles across local government and pensions administration businesses. Our conversation starts with Bola's background in chemical engineering, and how this drove her deep knowledge of the science behind climate change and the energy transition. We move to her investment role, how it originally came about and how she developed her role to respond when her employer declared a "climate emergency". We hear how her pension fund panel was guided through workshops organized around the UN Sustainable Development Goals, and how the diverse panel settled on core goals to weave into their investment beliefs and process. We hear how they are engaging with managers now to push for change and measure ESG risks.We then turn to diversity in the investment profession today, whether much progress has been made and the principles and core beliefs that Bola relies upon to guide her in her investment role, and in life.

Dr. Ylva Baeckstrom is a lecturer and researcher in finance at King’s College Business School in London, where she has a particular interest in behavioural finance, investment decision making and investment advice, with a special interest in gender and the interplay between advisors and their clients. She previously worked in banking for over 15 years, and also has a psychotherapy practice, which provides relationship support to individuals and couples. She has written extensively on gender bias, financial inclusion and the impact of economic equality and gender in entrepreneurship. Our conversation traces Ylva's start in investment banking and what motivated her to pursue a PhD and transition to academic life. We also speak about her insights as a psychotherapist and how it complements her research. When we turn to her current focus at King's College Business School, Ylva reveals some of the staggering insights of her research, such as the systemic underrepresentation of women in the media, and how this contributes to perpetuating stereotypes, discrimination and gender imbalances. We talk about the imposter syndrome, how it holds people back, and how the partnership of industry players, the media and the next generation of talent can make changes in the industry make-up.

Genia Diamond was most recently a co-founder and Chief Executive Officer of Merlyn Advisors, a special situations advisory and investment firm. She was previously a partner of Cantab Capital, where she headed up the business development area for over 8 years. She started her career in asset management in research and then held a series of business development roles at a range of asset managers. She has a Phd in linguistics and is currently Chair of the Board of Trustees of the STEM Inclusion Foundation, a charity that aims to increase the number of girls that continue the study of maths and physics beyond GCSE. Our conversation follows her intriguing journey from a doctorate in linguistics into the world of investment, and how this taught her to think and dissect the way that we interact with others. She has had significant experience and success in building investment management businesses, and has a proven set of steps necessary to optimize this process for success. She notes figures from the industry who have motivated her over the years and the values that keep her grounded throughout the market ups and downs.

Kristin Finney-Cooke is an investment consultant based in Chicago, who works with a range of public pension plans across the Midwest, along with other institutional investors. She has a particular interest in promoting and encouraging diverse asset management firms, particularly those that are female and minority owned. In this conversation we do a deep dive into her rich family history of academic achievement, and discuss in detail the experience of students attending HBCUs, and what they contribute to the national conversation as well as to preparing a body of talented black students to succeed in their careers and life. We then turn to Kristin's own experience in moving from what she expected to be a career in medicine to one of investment, and how she uses her platform to amplify minority-run businesses. We talk about what really matters in life, and why we should all strive to make the "dash" - that little sign between the years of our birth and death - count for something. It is an inspiring conversation.

Connie Teska is principal and co-founder of Pluscios Management, a fund of hedge funds manager based in the Chicago area. Pluscios is a Greek term meaning wealth, abundance, and riches and the firm, founded in 2006, has two female founders. She has a long history in investment management, particularly in the area of alternative investments. Our conversation returns to Connie's Greek roots, and what growing in a family of entrepreneurs and small business owners taught her about work ethic, resilience, and respect for knowing what goes on "in the weeds". We move to her banking career, and what inspired her to start a firm. The road to founding a firm had some challenges for the two female founders, and she reflects on how the landscape has changed for minority run firms now.

Kelli Schrade is an institutional consultant and director at Graystone Consulting, a Morgan Stanley company, and is based in Chicago. She has had a long career in manager selection and investment consulting and is a self-described “market junkie”, who is committed to making change through her work with clients and diverse investment managers, among other causes. She is a Board Member at the Lincoln Park Zoo, Deborah’s Place and involved in numerous industry bodies. Our conversation goes back to Kelli's undergraduate degree in English, and how she transitioned from that to a role in manager selection. We discuss the benefits of flat corporate structures, and how they enable junior employees to thrive, and the work she is doing to elevate and amplify minority-run firms and to enable her clients to fulfill their missions. When we turn to the issue of diversity, Kelli is frank about the experience of other senior women who have dropped out of the industry, and it is apt at this stage (mid-pandemic) to mention the recent McKinsey report (https://www.mckinsey.com/featured-insights/diversity-and-inclusion/women-in-the-workplace) which noted that one in three professional women were considering downshifting their career due to the Covid-19 disruptions and additional pressures, including the "double shift" of childcare.

Sharmila Kassam is the founder of Aligned Capital Investing, as well as holding a portfolio of Board roles. She was previously Deputy Chief Investment Officer of the Employees Retirement System of Texas, a public defined benefit plan with around $30 bn in AUM, where she held a series of roles for almost 12 years. She previously worked as an attorney and a venture industry professional. She is a Senior Fellow at the Milken Institute.Our conversation starts with Sharmila's move from law into the world of investing, and the policies and priorities that were at the forefront of her mind in her role as Deputy CIO of a large public plan. Sharmila was an early trailblazer for the building and promotion of diverse portfolios in her role at Texas ERS, and the strong performance of these portfolios serves as a powerful proof statement of the win/win nature of diversity. Now, as she builds out her portfolio of Board roles she is committed to using this experience to pave the way for smaller and more boutique organizations to see and enjoy the benefits of diversity. We speak about the figures in her life who have inspired her, and her current agenda to promote change.

Kourtney Gibson is President of Chicago-based Loop Capital Markets, one of the largest privately-held investment banks in the country. After joining the company as an intern more than 20 years ago, she has held various roles at the firm, including spearheading its global equity division for more than a decade.She is a member of The Economic Club of Chicago and sits on the board of trustees of the University of Miami and Viterbo University as well on the board of Lululemon Athletica Inc., the MarketAxess Corporation, Dibia Dream Foundation and the Chicago Scholar’s Foundation. She is a frequent network contributor who provides commentary on market trends and events and is a trailblazer for women and minorities both in finance and more broadly.Our conversation traces how Kourtney rose through the ranks of Loop Capital and the values that have always grounded her. We speak about sponsorship, why it matters so deeply, the importance of competing on a level playing field, and what she brings to her Board Roles as a female, an African American and a millennial. She shares her views as to how we can effect real progress on these metrics and continue to shape the conversation.

In this bonus series of the Fiftyfaces podcast we meet eight accomplished women who offer a frank assessment of their journeys into the investment world and their experience in it. We hear about being underestimated, and whose problem this is, really. We discuss the imposter syndrome, the high drop-out rate of senior women, and how a Board Director is using her position to drive inclusion and knowledge among private equity firms and boutique firms without grand plans and comprehensive policies. There is a lot of "grandmother" wisdom in here, some motivation from faith, stories of advances in academia, and a discussion of the contribution to excellence of HBCUs. We hear from female founders who hit more than a few stumbling blocks and how the glass is both full and empty according to one's point of view.

Carrie Pickett has had a long career in asset management, and was recently a founder and principal of Blueprint Capital Advisors, having held a series of roles as Controller, director of operations, and marketing and investor relations in other asset management firms. She is a frequent contributor to the dialogue around the need for more diversity in the asset management industry. Our conversation discusses Carrie's experience as a founder, which has taken many shapes and forms over the years, and is a shot of reality in terms of the kind of capital needed and type of trajectory that can be expected. She discusses her experience of diversity and inclusion, and the lessons learned in her journey.