The Fiftyfaces Podcast

In Series 4 of The Fiftyfaces Podcast we meet 10 more diverse investment professionals. One learned to play cards at the age of 3, and thus began his love of markets, one used to be a professional actor, one grew up on a hog farm in Iowa, and one low income on the west side of Chicago. We meet the CIO of a large US hospital plan, a real estate specialist at a large US endowment, a female fund founder, a pathbreaking black female venture capitalist, the son of two iconic Latino figures in Southern California, an investor who weaves spirituality into his mission, and a private equity investor who has just left and dedicated his career to changing the profession, creating opportunity and spreading share ownership more widely. Our guests share their experience of being working parents, of the challenges that have rocked them and how they have overcome them, and of how they wish to leave a mark.

Sorina Zahan is managing partner and Chief Investment Officer at Core Capital in Chicago, an asset manager focused on building specialty portfolios in the alternatives area, as well as Founder and CEO of Aiperion, a research development and fintech firm which aims to change the way we think about investment risk. Before entering asset management she previously worked as an engineer and as a professor focused on AI. Sorina has a strong interest in innovation in investment management, in particular around portfolio construction and the allocation of risk. We talk about her career journey from academia into finance, her "hobby" of thinking, and why she believes diversity is so key in a research team. We discuss academic research as a search, about how much is not known, and AI in particular, and whether it will be used for good.

Emanuel Arbib is the Chief Executive Officer of IAM Capital Group in London, an asset manager whose product range includes real estate, hedge fund of funds and green opportunity products. Prior to founding IAM he was a director at a NASDAQ listed company that controlled an Italian motorcycle manufacturer, and prior to that a director of a family office based in Jersey and Monte Carlo. He works extensively across Israel, Italy, the US and the UK. Our conversation looks at what is key when winning and retaining the loyalty of family offices in wealth management and the wisdom what he has gained from working with some great financiers over the years. We also examine the role that internships plays in ensuring diversity of thought and fresh ideas within an organization.

Sorca Kelly-Scholte is Head of Pensions Solutions and Advisory for EMEA at a large asset management firm. She trained as an actuary, and spent time as an investment consultant before assuming her current role. She is a frequent writer on the topic of institutional asset allocation, strategy and portfolio construction. Our conversation covers her undergraduate degree in Mathematics, and how it taught her to think. We return to this when we discuss her current approach to asset allocation, particularly against the backdrop of a crisis, and how she is coaching her pension fund clients by reference to different models of best practice. We spend some time on how she embraced the challenge of speaking in public, and the people and habits that enabled her to build her confidence. We also turn to the question of gender diversity in finance and Sorca shares her experience as well as her vision for how things can be better.

Shawn Evans is an investment officer at a large corporate pension plan in Chicago and prior to that held a series of similar roles in Chicago-based public pension funds. He started his career as an accountant, and is a CPA as well as a CFA. He works as a volunteer leader with Chicago Cares, and has participated in college and high school mentor programs. Our conversation covers how Shawn came into a career in finance, his early days in accounting and his transition onto the investment side. His career was predominantly self-driven, and he didn't participate in any mentorship and sponsorship programs that are sometimes offered. He is keenly aware of the importance of a personal brand, and prefers to focus on long-term sustainable solutions v. short term fixes when it comes to addressing diversity needs in firms.

Roxanne Martino is Managing Partner at OceanM19 family office in Chicago, and has had a long career in asset management. She founded Aurora Investment Management in 1988, a firm which provided hedge fund portfolio solutions to institutional investors for over 28 years. She is Co-Chairperson of the University of Chicago Booth School of Business Council, Chairperson of the Boards of the Ann & Robert H Lurie Children’s Hospital of Chicago and Chair of its Executive and Governance Committees and holds a number of investment committee and board roles in educational institutions and charities. She is a published author and a frequent commentator on investment matters in the media and on the conference circuit. Our conversation delves into her very early entry to college and the world of business, her rise through the hedge fund of fund business and the process of starting and growing her own firm, with particular focus on the diversity that she built into it from the ground up.Now in her portfolio career, she holds a number of pivotal and influential roles in educational and health-care institutions that are in the cross-hairs of the current Covid-19 crisis. These are circumstances which test such roles to the limit, and Roxanne's experience has led to her having an exceptionally nuanced approach to how to best leverage her skills in these roles. Roxanne is a founder among founders - and has so many firsts to her name. She is a role model to many, and I hope you enjoy our wide-ranging conversation.

Saker Nusseibeh is Chief Executive Officer of the international business of Federated Hermes. He has previously headed equity teams in a range of asset managers, and is a passionate advocate for responsible investing and the integration of ESG factors into investment processes. He is a frequent contributor to industry dialogue on these topics and received the honour of Commander of the British Empire in January 2020 for services to responsible investing and the financial sector. Our conversation traces Saker's journey from his childhood to his brush with academia through his study of Medieval History which resulted in a PhD. We discuss what this intensive immersion in history taught him about life, and how he continues to apply these lessons in the investment world. We spend some time discussing sustainable investing as well as the challenge of increasing the diversity within the financial sector. It is a conversation that comes full circle to consider the absolute necessity of diversity as a requirement of sustainability, and why there really is no other way.

Judy Chambers is Managing Principal of Meketa Invstment Group, an investment consulting firm. She has had a long career in investment consulting and prior to that investment banking. Based in NYC, she is Chairman of the Advisory Board of the Toigo Foundation, and sits on the Board of the Community Service Society of New York. Judy had an exceptionally early start in the world of investing - starting as an intern at JP Morgan at the age of 15. She has not stopped since. Our discussion covers her moves through investment banking and then investment consulting, and some insights she gained along the way as to the power structures she would encounter as she built her career. Now, in an investment consulting role, she is instrumental in identifying promising minority led investment firms, and we discuss the enduring challenges that these firms face in getting a seat at the table.Judy is currently Chair of the Advisory Board of the Toigo Foundation and we discuss the benefits that this program and affinity groups provide in nurturing diverse talent within the investment profession.

Tom Majewski is managing partner of Eagle Point Credit Management, which focuses on investments in CLOs – or Collateralized Loan Obligations - and CLO equity. Prior to founding Eagle Point he held a variety of roles on Wall Street, mainly in the fixed income area. We talk about how he planned his career in 5 year increments, the chain of managers and mentors who influenced him and his thought process in establishing his own firm. We spend quite a bit of time discussing how the market backdrop has required building resilience and in particular examine how the investment management industry dismantles complexity for investors. This touches the importance of transparency and disclosure.His philosophy is one of playing the long game and we will learn what this means in investments, in work relationships and in life. We discuss his emphasis on inter-personal dynamics and connecting with investors.

Dr. Christine Chow is global tech lead and head of Asia and GEMS in EOS, the engagement arm of the international business of Federated Hermes. She has had a global career, spanning Asia, the US and Europe, and is a member of the All-Party Parliamentary Group on Artificial Intelligence. Christine pursued her PhD mid-way through her investment career and we talk about the challenges that that presented, in addition to her juggling work and family. She has a wealth of anecdotes gathered from her time in Asia and when moving through the ranks of finance, and she has been pivotal in shifting perceptions on interview panels and in seeking to eradicate bias within firms. One of the most fascinating aspects of Christine's story is what happened when she conducted an experiment - she applied for some jobs using her Chinese name, and applied for other jobs using a non-Chinese name. What ensued was both surprising and disappointing. Tune in to find out more.