Pixabay CC0 Public Domain. Las finanzas se mantienen como una de las opciones profesionales preferidas entre los jóvenes
CFA Institute, the global association of investment professionals, has recently released the results from a survey it conducted on the career outlook of more than 15,000 current university students and recent graduates aged 18-25 from 15 markets. Globally, 58% of respondents still feel confident about their future career prospects in the wake of the COVID-19 pandemic.
“Traditionally stable fields, such as finance, remain attractive for graduates navigating these uncertain times”, the report points out. In fact, respondents across all 15 markets ranked this sector as one of the top five most valuable majors for finding a career. Overall, graduates felt that medicine/science was most stable and attractive, followed by healthcare and then education.
“Students and recent graduates are more flexible and confident about their prospects than ever. The pandemic forced many grads to reassess their expected career paths, and they have displayed remarkable resilience despite the circumstances. It is now incumbent on companies to adapt to the new realities, such as hybrid workplaces, in order to attract and retain the young talent we need to help lead us out of the pandemic”, said Margaret Franklin, CFA, President and CEO at CFA Institute.
She finds “encouraging” to see that many graduates still view finance as a stable and attractive career path; however, they currently don’t see the industry as making a positive social impact. “This issue is only going to increase in importance, and industry leaders need to make sure we are on the front foot in educating students about the positive impact an investment career can have for people and our planet,” Franklin concluded.
The survey shows that a majority of graduates believe their future career will be as good or better than their parents’ generation, despite the pandemic. Findings showed that those studying accounting and finance were particularly confident, with 80% believing their prospects are as good or better than their parents’ generation, compared to three quarters (75%) of respondents overall.
Skills and insecurities
Another primary concern for students is developing work-related skills during degree programs and after graduating. Those surveyed shared personal insecurities about this, with a quarter of respondents saying they feel underqualified for the job they want, and 22% saying they do not feel ready for the working world.
When approaching the current complex job market, students and graduates see value in further education. Nearly nine in 10 respondents feel that upskilling and post-graduate qualifications are important in the current job market, and 57% believe postgraduate qualifications/professional certification will give them an edge when looking for a job.
Working in an industry that makes a positive societal and environmental contribution ranks very important to recent graduates, with nearly nine in 10 respondents saying it’s an important part of their career choice. For CFA Institute, of concern is that only 8% of respondents consider a career in investment management as one in which they could make a positive environmental and societal impact. This finding shows that, to retain talent, the sector must do more to educate students around the positive impact they could have in an investment industry career.
“Graduates may be unaware of the remarkable global trend towards environmental, social and governance (ESG) investing and the career opportunities a specialism in sustainability and ESG could offer them in the investment industry. We need to show them that investment careers can be rewarding well beyond the traditional attraction of higher salaries,” commented Peter Watkins, who leads the University Affiliation Program at CFA Institute in Europe, Middle East and Africa.
Foto cedida. Aegon AM amplía su equipo de Inversión Responsable con tres nuevos especialistas
Aegon Asset Management has announced that Andy Woods, Curtis Zappala and Jamie McAloon will be joining its Responsible Investment team, bringing the number of specialists in this division to 17.
Based in the UK, Andy Woods arrives as a responsible investment manager, supporting the Equities and Multi-Asset investment platforms. His primary responsibility will be the voting activities and related engagements with companies within Aegon AM’s portfolios. Previously, he headed up the Institutional Voting Information Service of the Association of British Insurers.
The firm has also appointed Curtis Zappala as a responsible investment associate. Based in the United States, his focus will be on ESG integration and engagement, supporting the fixed income investment platform. Prior to his new role, Zappala was a member of the sustainability team at United Parcel Service (UPS). He has also held various sustainable-related positions at SunShare and Growth International Volunteer Excursions.
Finally, Jamie McAloon joins as a responsible investment associate, supporting the Equities and Multi-Asset investment platforms. Also based in UK, McAloon will be primarily responsible for supporting the sustainable range of products with analysis of existing and potential holdings, according to Aegon AM’s sustainability research framework. He joins the business from Abrdn, where he was a Private Equity Finance Analyst.
“We have built a comprehensive responsible investment approach, with a 30-year history of investing in this area. The three new appointments allow us to continue our work, broadening our expertise, knowledge and skills base. I’d like to welcome Curtis, Andy and Jamie to the team and look forward to the fresh perspective and enthusiasm they will bring”, commented, Brunno Maradei, head of responsible investment at Aegon AM.
Foto cedidaDe izquierda a derecha: Honor Solomon, nueva responsable del Canal Minorista de EMEA de AB, y Mike Thompson, recién nombrado responsable Global de Desarrollo de Negocio y Estrategia de Renta Fija.. AllianceBernstein refuerza su equipo para EMEA fichando a Honor Solomon y Mike Thompson
AllianceBernstein (AB) has strengthened its EMEA product and client leadership with the appointment of two high-profile industry figures in London. In a press release, the firm revealed that Honor Solomon will join the firm as Head of Retail EMEA and Mike Thompson will lead AB’s global Fixed Income business development strategy.
In her role, Solomon will oversee strategy, management and distribution for AB’s fast-growing EMEA retail business, and will be charged with building on the considerable growth of the retail offering across the region in the last two years. In this sense, the firm has seen the AUM in its EMEA retail business increase by 47% since the start of 2019 – including strong momentum and inflows into its UK-based OEIC range since its launch in March of last year. She will join the firm in Q1 2022, and will report to Onur Erzan, Head of Global Client Group.
Solomon joins from Legal & General Investment Management (LGIM), where she spent seven years as Head of Retail Distribution, helping to build the firm’s retail offering into one of the UK’s largest. Prior to this, she led BlackRock’s London Discretionary Team, with responsibility for the firm’s relationships with banks and intermediaries. She began her career with Merrill Lynch, where she spent four years in its investment banking division across Paris, New York and London
Meanwhile, Thompson will assume the role of Global Head of Fixed Income Business Development & Strategy, and will be responsible for driving growth and brand-building efforts for AB’s high-performing fixed income range worldwide. He joins from ICG, a leading UK-based alternative asset manager, where he was global head of the Financial Institutions Group and European Head of Marketing and Client Relations.
Prior to ICG, Thompson had a 15-year career at PIMCO, where he was head of Asia ex-Japan and previously head of third-party distribution in Europe. His prior experience also includes large fixed-income managers Western Asset Management and Franklin Templeton. Thompson will join AB in December.
“Bringing Honor and Mike aboard is a clear signal of the ambitions we have for both our EMEA business and our global fixed income franchise, and our intent to capitalize on the growth we have seen in both over the last few years”, said Onur Erzan.
In his view, to be able to attract talent “of their calibre” is confirmation of AB’s status as a brand of choice for both clients and leading industry talent. “We are delighted to welcome them both to the firm, and we are confident that they will help to lift our retail and fixed income franchises to new levels”, he concluded.
Foto cedidaHuw Davies, gestor de fondos adjunto para su equipo de bonos estratégicos de retorno absoluto de Jupiter AM.. Jupiter nombra a Huw Davies gestor de fondos adjunto para su equipo de bonos estratégicos de retorno absoluto
Jupiter AM has strengthened its Strategic Absolute Return Bond (SARB) team with the appointment of Huw Davies as Assistant Fund Manager of Fixed Income. He joined the firm in the summer of 2020 following the company’s acquisition of Merian Global Investors, where he started his previous role as Investment Director of Fixed Income in the same team.
In a press release, the asset manager has explained that Huw will now report directly into Mark Nash, Head of Fixed Income Alternatives, and will work alongside Assistant Fund Manager James Novotny, strengthening the resource dedicated to Jupiter’s alternative fixed income offering.
Following the Merian acquisition, the team’s flagship portfolio, the Jupiter Strategic Absolute Return Bond (ICVC) fund, has been incorporated into the firm’s offering. This vehicle looks to deliver positive total returns uncorrelated to bond and equity market conditions, with stable levels of volatility. Powered by its flexible approach to navigating volatile fixed income markets, the fund has delivered 18.23% over three years and 20.4% over five. The fund is Jupiter’s first footprint in the alternative fixed income space and has added a new dimension to the its existing Alternatives business.
In addition to Huw’s appointment, the company has also announced that it is strengthening the client-facing support offered to its flagship fixed income strategy with the promotion of Matthew Morgan to Investment Director, Fixed Income and Multi-Asset. Having joined Jupiter in 2019 as Product Specialist on its Multi-Asset strategy, in his new position he will co-ordinate the activities of the team of Investment Directors across the company’s £15.3 billion Fixed Income and £1.1 billion Multi-Asset ranges, leading a growing team of strategy specialists.
“Since the onset of the Covid pandemic, the policymaking landscape has dramatically changed. Fiscal spending is unlikely to disappear anytime soon as inequality and global warming issues are addressed. Central banks will remain supportive but will take more of a backseat, while ensuring that banking systems are in good health to support the recovery”, said Mark Nash.
In his view, this reflationary environment will see higher growth and higher inflation, with yields rising. “A more ‘absolute return’ approach will be needed to achieve positive returnsfrom fixed income, and I am pleased to be welcoming Huw to the team at this important time in for the strategy”, he concluded.
Pixabay CC0 Public Domain. Nuveen amplía su plataforma Real Asset con dos nuevas unidades de negocio: Nuveen Natural Capital y Nuveen Infrastructure
Nuveen has announced the strengthening of its Real Assets platform, by bringing together its private real asset capabilities and launching two new business units. Its goal is to create a more streamlined proposition as investors seek to increase exposure to real assets and alternatives.
In fact, according to research conducted by the firm, over two thirds of institutional investors are planning to increase allocation to infrastructure, natural resources investments and other alternative assets, as they seek to reduce climate-related financial risk exposure and align portfolios with the transition to a sustainable low-carbon economy.
The newly structured Nuveen Real Assets platform will consist of capabilities in real estate, farmland, infrastructure, timberland, agribusiness, and commodities; which will be organized under three core pillars, including two newly launched units: Nuveen Natural Capital and Nuveen Infrastructure. These two will sit alongside Nuveen Real Estate and will be enhanced by targeted and complementary capabilities across Nuveen’s Private Impact and Commodities segments.
“We’re hugely excited to be enhancing our Real Assets proposition, which will include bringing expertise together to create the newly launched businesses. Investor demand for real assets is increasing at an extraordinary pace and by bringing together our unrivalled expertise in alternatives, we will be better positioned to respond to meet growing global investor demand for long-term sustainably managed investments. The strengthening of the platform represents the next step in our evolution in becoming the leading land-based asset manager, investing in a sustainable way for the enduring benefit of our clients and society”, commented Nuveen’s CEO of Real Assets, Mike Sales.
The company has highlighted that its sustainable investment philosophy will underpin the entire Real Asset platform’s approach, “offering investors access to alpha driven strategies that are deployed via a responsible investing lens“. Under the leadership of Mike Sales, the enhanced platform will launch in January 2022.
The three core pillars
Regarding the new offering, the company has revealed that Nuveen Natural Capital will combine Westchester Group Investment Management, Nuveen’s farmland investment business with over $7.7bn of farmland assets under management, with GreenWood Resources, which specialises in the acquisition and stewardship of forestry assets and currently manages $1.5bn of timberland assets across over 760,000 acres. Martin Davies, current CEO of Westchester Group, will lead this business unit.
As for Nuveen Infrastructure, it will combine private equity and equity-like strategies through Glennmont Partners, one of Europe’s largest renewable energy fund managers with over $2bn in assets under management, alongside Nuveen’s existing diversified private infrastructure platform and its agribusiness platform- AGR Partners. Following a 16-year period at Nuveen, Biff Ourso, will be the Global Head.
Meanwhile, Nuveen Real Estate is one of the largest real estate managers globally, with over $133bn of assets under management, and will remain under the leadership of Chris McGibbon. The business consists of six core business lines across the retail, office, logistics, housing, debt & alternatives sectors
Foto cedidaKristina Church, Head of Responsible Strategy de BNY Mellon IM.. BNY Mellon IM nombra a Kristina Church nueva Head of Responsible Strategy
BNY Mellon Investment Management has announced the appointment of Kristina Church as Head of Responsible Strategy. In her new role, she will collaborate with its investment firms, as well as its parent company BNY Mellon, in relation to their responsible and sustainable investment strategies and approaches.
In a press release, the asset manager revealed that Church will help drive BNY Mellon IM’s positioning relating to responsible investment as a provider of investment solutions, engage with clients, input on product development, contribute to public policy and related initiatives, and advise on data and reporting. Based in London, she will report to Gerald Rehn, Head of International Product and Governance at the firm.
Church joins from Lombard Odier Investment Managers where she was most recently Head of Sustainable Solutions and earlier, Senior Investment Strategist and Deputy Head of Sustainability. Prior to this, she spent a decade at Barclays Capital, latterly in its sustainable and thematic research team and formerly as Head of European Automotive Equity Research. She began her career as an accountant at Deloitte and later an automotive equity analyst in Citigroup.
“I am delighted to welcome Kristina to BNY Mellon Investment Management. She has a wealth of experience gained in different parts of the investment industry and a very strong understanding of the evolving trends in responsible and sustainable investment across various asset classes”, said Hanneke Smits, Chief Executive Officer.
She also pointed out that BNY Mellon IM’s multi-investment firm model provides clients with a “unique and relevant” range of responsible investment solutions. “Kristina will play an integral role in further positioning and articulating our approaches to responsible investment with our clients globally”, she concluded.
Foto cedidaKarin van Baardwijk, actualmente CEO y directora de operaciones de Robeco.. Karin van Baardwijk será nombrada consejera delegada de Robeco en sustitución de Gilbert Van Hasse
Robeco has announced the appointment of Karin van Baardwijk as Chief Executive Officer (CEO) as of 1 January 2022. Currently deputy CEO and COO, she will succeed Gilbert Van Hassel who has served as the firm’s CEO since September 2016.
In a press release, the asset manager has revealed that Van Hassel will stay on as CEO until 31 December 2021 “in order to ensure a smooth handover”, after which he will re-locate back to the United States where he will assume a senior role for ORIX Group based in New York.
Van Baardwijk joined Robeco in 2006 and has held various positions ranging from Head of Operational Risk Management to Chief Information Officer. Having been part of its Executive Committee since 2015, she has played an important role in developing and executing the corporate strategy for 2021–2025 and has been responsible for leading several “successful transitions”.
“It is an honor to be appointed CEO. I am very excited to lead Robeco and proud to add to its long history that goes back for 90 years of serving clients. Sustainability is at the heart of everything we do and I personally stand for. I look forward to further driving the strategic 2021-2025 agenda, to build on the momentum we have and to accelerate growth in all our key strengths”, Van Baardwijk said.
Meanwhile, Maarten Slendebroek, Chair of the Supervisory board,highlighted that she has shown “strong, inclusive leadership and management skills” in her current role as Chief Operating Officer (COO) and deputy CEO. In his view, her strengths in operations, technology, sustainability, relationship building, and her extensive experience within Robeco will “undoubtedly” enable her to be an “effective and respected” CEO.
“On behalf of the Supervisory Board, we thank Gilbert for laying a strong foundation, accelerating Robeco’s growth globally and for guiding Robeco to leading global positions in Sustainable Investing, Quant, Credits, Trends & Thematic and Global & Emerging Market Equities. We wish him all the best in his new role with ORIX Group”, he added.
As for Van Hassel, he claimed to be very grateful for his tenure at Robeco and to have had the opportunity to lead “such an incredibly skilled organization with so many bright and talented people”.
“Robeco is in a great place and with Karin, I have the utmost confidence that its clients are in good hands. To be able to fill this position from our own ranks underlines the strength of our organization. I am thankful for the position that ORIX Group has offered me to share my experience and to further build its global business. I also look forward to being reunited with my family”, he concluded.
Foto cedidaJenny Johnson, presidenta y CEO de Franklin Templeton.. Franklin Templeton adquiere O'Shaughnessy AM, proveedor de índices personalizados
Franklin Templeton has announced that it will acquire O’Shaughnessy Asset Management, a custom index provider and quantitative asset management firm. The transaction is still subject to customary closing conditions and expected to close in the fourth quarter of 2021.
In a press release, the asset manager has explained that through this acquisition, it adds to its offerings in the high growth separately managed account (SMA) industry, where it is already one of the largest providers with 130 billion dollars in assets under management as of August 31, 2021. In its view, OSAM’s capabilities, both as a factor-based investment manager and as a Custom Indexing solution via its flagship Canvas® platform, “will serve as an important expansion and enhancement of Franklin Templeton’s existing strengths in SMA and custom solutions capabilities”.
The platform was launched in late 2019 and has seen strong growth since its inception, now representing 1.8 billion dollars of OSAM’s total 6.4 billion in assets under management as of August 31, 2021.
“Technological advances are reshaping how financial solutions are delivered, and we continue to invest in innovative technology to enhance client outcomes and their experience. Custom Indexing is aligned with our commitment to bringing sophisticated customization to a broader investment audience, and I’m excited to welcome the OSAM team to Franklin Templeton”, said Jenny Johnson, President and CEO of the asset manager
Franklin Templeton believes that the transaction will bring “compelling benefits” to the clients that both companies serve across multiple channels. “Custom Indexing represents a significant area of growth in asset management today, and Canvas allows financial advisors to build and manage Custom Indexes in SMAs that are individually tailored to the client’s specific needs, preferences, and objectives”, points out the press release.
Besides, they highlight that advisors can create investment templates, access factor investing strategies, utilize passive strategies, and apply ESG investing and SRI screens to adhere specifically to the client’s personal beliefs. Canvas also provides the opportunity for advisors to efficiently plan, set tax budgets, identify realized and unrealized gains and losses, and systematically sell certain positions to create offsets. OSAM is also regarded as a pioneer in factor-based investing with a long history of delivering its investment strategies through SMA and mutual fund solutions.
Patrick O’Shaughnessy, CFA, Chief Executive Officer of OSAM said that Custom Indexing represents the next progression of investing through Indexing, ETFs, and Direct Indexing. “As part of Franklin Templeton, we’ll have the opportunity to accelerate client growth at Canvas and continue to add to existing OSAM offerings. We’re excited by the incredible potential this acquisition creates and look forward to getting started”, he added.
Through this transaction, OSAM’s more than 40 team members are expected to join Franklin Templeton along with all of the necessary intellectual property, investment management processes, and principal business assets necessary to evolve and grow the business within the Franklin Templeton Product Solutions group.
Roger Paradiso, Head of Franklin Templeton Product Solutions claimed that they “firmly believe” winning solutions will need to combine a quantitative skillset, active investment management expertise, and a great digital user experience. “This partnership will further enhance Franklin Templeton’s ability to deliver compelling individualized SMA solutions to clients, advisors and firms while continuously innovating to advance and shape the managed accounts industry”, he concluded.
Pixabay CC0 Public Domain. Jupiter amplía su equipo de crédito estadounidense con la apertura de una oficina en Nueva York
Jupiter Asset Managementhas announced the launch of a new, New York-based US credit hub, increasing the research capacity of its 13 billion dollars’ global unconstrained fixed income strategy and deepening analytical coverage of the world’s largest, most liquid market.
In a press release, the firm has revealed that three Jupiter employees, including two newly appointed team members, will be based in the office, evolving the firm’s US credit coverage from its current focused and selective approach to a deeper and more extensive analytical cover. “With the office designed as an idea-generation hub for Jupiter’s UK-based fixed income strategy, the team will have no initial requirement for order raising or trading capability”, they add.
Dedicated US credit research team
The New York-based team will be led by experienced US Credit Analyst and US national Joel Ojdana, who joined the company in London in July 2018 and moved back to the United States with the opening of Jupiter’s Denver office in October 2020. With over thirteen years’ experience in fixed income investing, the asset manager believes that Ojdana has made “a meaningful contribution” to the firm’s US credit research – an important pillar of Jupiter’s unconstrained bond offering, led by Head of Strategy, Fixed Income, Ariel Bezalel.
With Ojdana in the credit hub will be David Rowe and Jordan Sonnenberg, who have joined the company as Credit Analysts this month. Rowe joins Jupiter from JP Morganwhere he has worked as an Analyst on theLeveraged Loans & High Yield Credit Trading Desk for the last two years, while Sonnenberg joins from Deutsche Bank, where he has spent five years on the company’s High Yield Credit Research team, most recently as a High Yield Credit Research Associate covering the industrials, paper & packaging and chemicals sectors.
In their new roles, both will work closely with Jupiter’s 10-strong London-based credit research team, including Credit Analyst Charlie Spelina, who joined Jupiter in 2017 to spearhead the company’s US credit research. Besides, they will report into Ojdana and to Luca Evangelisti, Jupiter’s UK-based Head of Credit Research.
Jupiter AM has pointed out that the team will focus onhigh-yield credit research, feeding into the idea generation process for its global unconstrained bond offering, including the flagship Jupiter Dynamic Bond (SICAV). In addition, their work will also feed into the research process across Jupiter’s broader fixed income strategy, including the Jupiter Global High Yield Fund, with a longer-term scope for evolving the company’s product range in this area.
Meanwhile, Stephen Pearson, CIO, addedthat as Jupiter’s Fixed Income strategy continues to go from strength to strength, it is “vitally important” to invest in their people and infrastructure. “David and Jordan’s experience in the US credit market make them the ideal candidates to further expand the team’s wealth of regional expertise, building on the meaningful contribution Joel’s work in the US has already made to the team’s investment process”, he concluded.
Pixabay CC0 Public DomainAutor: Alexas_Photos. Franklin Templeton compra el equipo de Crédito Investment Grade de Aviva Investors
Franklin Templeton has announced the talent acquisition of Aviva Investors’ US-based Investment Grade Credit team. This means that senior portfolio managers Josh Lohmeier and Michael Cho will join Franklin Templeton Fixed Income (FTFI). In addition, Tom Meyers, previously Aviva’s Head of Americas Client Solutions, will join FTFI in a newly created role as SVP, Senior Director of Investments and Strategy Development, Fixed Income.
In a press release, the asset manager has revealed that Meyers, Lohmeier and the full investment team are expected to join by the end of 2021. Lohmeier and Meyers will report to Sonal Desai, CIO at FTFI, and the investment team will continue to report to Lohmeier.
The Investment Grade Credit team currently manages over 7.5 billion dollars in institutional assets under management at Aviva, across its suite of investment grade credit strategies, including US Investment Grade Credit, US Long Duration Credit, US Long Duration Government/Credit, and US Intermediate Credit, with additional customized versions of each strategy for various institutional clients. The asset manager has clarified that Aviva clients in these strategies will have the opportunity to continue to have the team manage their assets at Franklin Templeton.
“Bringing this experienced team aboard will complement our existing credit capabilities by further deepening our expertise in investment grade credit, strengthening our research and analysis resources, and expanding our strategy offerings and capabilities further into the institutional marketplace, with a special focus on defined benefit and liability-driven investing,” said Desai.
“I look forward to working with Josh and the team to bolster and differentiate our investment grade credit offerings, and with Tom to bring this messaging to our clients and consultants, especially in the institutional arena”, she added.
Excess returns through all market cycles
Franklin Templeton has highlighted that this Investment Grade Credit team uses a differentiated portfolio construction process that breaks down and analyzes credit markets in distinctive ways in order to uncover additional opportunities for alpha and risk reduction for clients. Utilizing a custom risk framework and allocation system, the team aims to consistently deliver positive and uncorrelated excess returns through all market cycles, regardless of the direction of credit spreads, with a focus on downside protection.
Lohmeier claimed to be “thrilled” to continue to grow the substantial client interest they have seen in their investment grade credit strategy, now with Franklin Templeton. “Portfolio construction sets the strategy apart from its peers and is a key driver of its non-correlation. Our time-tested process is designed to add value by creating a more efficient portfolio and allocating to the best credit ideas”, he said.
Franklin Templeton believes that the team’s approach and expertise are complementary to its existing active quant investment process, which combines fundamental research-based active management with quantitative analysis and data science. In addition, the team’s investment philosophy and culture, built on the belief that a quantitative enhancement to fundamental research leads to more consistent and repeatable alpha generation, strongly aligns with FTFI’s existing culture.
“In the current environment, and especially within fixed income, we believe clients are looking for crisp differentiation and consistency,” said Meyers. “I look forward to working with Josh to continue to articulate the benefits of the investment grade credit strategies, and with the broader Franklin Templeton Fixed Income team in connecting clients with investment strategies that meet their diverse needs.”
Franklin Templeton Fixed Income has 156 billion dollars in assets under management, with approximately 13 billion of that in corporate credit strategies, as of August 31, 2021. The firm’s existing Corporate Credit Research Team comprises 31 investment professionals, organized by region.
