Q: Why did you decide ‘now is the time’ to retire?
There’s never a right time, and it’s not a decision to be taken lightly. But for me, it was a lifestyle choice: with my sons both at university, now is the time for my wife and I to take advantage of some freedom and enjoy the adventures of travelling while we still can. Portfolio management is all-consuming, and while I’ve loved my work over the past three decades, it’s time to take a break.
Q: How involved were you in succession planning – and what did you look for from your successor?
There’s no ‘one size fits all’ when it comes to succession planning. Our multi-asset income strategy at Fidelity is run on a team-based approach – all contributing to decision-making and the investment outcome. Succession planning for us was therefore not just about individuals or a single named successor, but looking at skillsets across the team and deciding the optimal combination of experiences to bring together.
See also: Fund in Five: Fidelity Short Dated Corporate Bond Fund
Q: What have been some of the biggest industry changes you’ve experienced during your career?
Our industry is always evolving, with some particularly rapid changes in recent years. Sustainability is an obvious one, where finally it seems investors are putting principles into practice, and while global regulation is still developing, I think the momentum we’re seeing now will endure after a few ‘false starts’. Another area would be the flexibility of our industry in terms of working practices post Covid. The pandemic certainly accelerated existing trends towards flexibility, and it will be fascinating to see the long-term impacts of this on investment decision-making and idea generation.
To read the rest of this article visit the November edition of Portfolio Adviser Magazine
