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WPGU NewsApril 12, 2024The principal of Champaign’s Booker T. Washington STEM Academy resigned this week.The University of Illinois has dropped its investigation into the rape allegations against Terrance Shannon Junior and has decided not to take disciplinary action against him. Tre White committed to the Illinois Men’s basketball team for the 2024 to 2025 season. Residents across Central Illinois are donating their glasses to be reused for the August solar eclipse in the Southern hemisphere. Following the solar eclipse on Monday, local businesses in Champaign saw an increase in visitors.Hosted by Layl...
2024-04-1203 min
UFC Round Up with Paul Felder & Michael ChiesaUFC 292 Preview! Round-Up with Paul Felder & Michael ChiesaPaul Felder and Michael Chiesa are back at it again on this episode of UFC Round-Up! To start off the show, the guys break down some of the fights from this past Saturday’s UFC Fight Night: Luque vs. Dos Anjos card. First, the pair hit on welterweight Vicente Luque pulling off a decision victory over Rafael Dos Anjos in the main event. The duo also give credit to how impressive the prelim fights were, including a shout-out to lightweight Terrance McKinney for his win against Mike Breeden. Then, the duo previ...
2023-08-1635 min
The MMA Hour with Ariel HelwaniAljamain Sterling, Eddie Hearn, Ian Machado Garry, Terrance McKinney, and moreAljamain Sterling around (2:46) joins us to discuss his upcoming title defense against Sean O’Malley at UFC 292, if he’s nervous, how he ended up fighting in Boston, the announcement of the fight, his bet with O’Malley, who the UFC wants to win, if this is his last fight at 135 pounds, his prediction, and more.The team around (26:01) discusses whether UFC 292 is really Aljamain Sterling's last fight at bantamweight, what happens next in the division, whether the UFC will give Aljo the chance to be champ-champ, Ariel's dislike of rum raisin ice cream, the UFC 292 fight card...
2023-08-153h 04
MMA on the Rocks325 - Fight Cub - UFC Vegas 78A rare immediate reaction to the fight card - UFC Vegas 78. The main event between RDA and Vicente Luque was a grimy war, tons of big finishes on the prelims and what's next for the fighters. I also take a look at UFC 292, coming up next weekend in Boston. Teenage Mutant Ninja Turtles, a rare dry weekend and more. As always, thank you for the shares, feedback, comments and criticism - cheers!
Hosted by: Bill WelkerMMA on the Rocks T-Shirts - Use promo code: MMAROCKS10
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2023-08-1343 min
The MMA Hour with Ariel HelwaniDominick Cruz, Marlon Vera, Jamahal Hill, Terrance McKinney, Geoff Neal, and moreAriel Helwani and The MMA Hour around (08:32) crew discuss their experience at PFL event Friday, their latest winning parlay, UFC Vegas 59, and the recent Hasim Rahman vs. Jake Paul weigh-in cancellation.Terrance McKinney around (1:01:54) discusses his latest performance at UFC Vegas 59, the chances he gets to fight Paddy Pimblett, facing possible legends next, and more.Geoff Neal around (1:20:03) discusses his big win over Vicente Luque at UFC Vegas 59, what it’s like fighting in the UFC Apex, why he called out Gilbert Burns, Burns’ performance against Khamzat Chimaev, Kamaru Usman vs. Leon Edwards, when he woul...
2022-08-083h 47
Operational LeadersSigning OffAfter 60 plus episodes and almost two years of covering the operational side of the investment management industry, the time has arrived. It's time to sign off. Thanks for listening. Thanks for being part of the Operational Leaders podcast. And thanks for helping make this the best podcast covering the ins and outs of running an investment management business. In the past, I was fortunate enough to work with an awesome set of people who were guided by the highest ethical principle of putting investors first. Now I have the opportunity to do it again. How luck...
2021-11-0902 minOperational LeadersA Season Finale Message of Thanks and Giving BackThis past season and in prior seasons, guests have graciously lent their industry expertise. Many have also mentioned some very important charitable causes. In this episode, we conclude Season Three by welcoming Sumudu Waas, the Acting Executive Director at Help for Children (HFC). HFC is a global foundation supporting the prevention and treatment of child abuse. Sumudu joins this episode to talk about the mission of Help for Children and the foundation’s deep roots within the alternative investment community. She highlights some of the key issues surrounding child abuse. Sumudu also discusses the origins of HFC, how the...
2021-08-1620 minOperational LeadersSylvain Forté Discusses Alternative Data and the Use of Artificial Intelligence for InvestingSylvain Forté is passionate about artificial intelligence. In 2014, he took that passion and co-founded SESΛMm, a company that applies natural language processing – a subfield of artificial intelligence – to extract billions of articles and messages from the web and turn them into relevant insights for investors. In this episode, Sylvain explains the rise of artificial intelligence and big data and their use in the investment field. He discusses the various use cases for AI and his company’s natural language processing, from insights on public and private companies to ESG assessments. He also discusses the extent of his company’...
2021-07-2123 minOperational LeadersRichard Change on Technology Solutions for Efficient Firm ManagementAs the former Chief Architect at a leading private equity firm, Richard Change saw a gap in data standards, as well as limitations on how firms stored and tracked investment information. In 2012 he set out as co-founder to start PFA Solutions. The company now focuses on technology solutions for calculating GP carry allocations and tracking consolidated performance information across fund firms. Richard joins this episode to talk about the ongoing gap in industry-wide data standards and how that creates challenges and opportunities. He also shares his observations about investor demand for insight and transparency into fund performance and...
2021-07-1420 minOperational LeadersJohn Brennan Talks Digital Transformation and Organizational ChangeJohn Brennan spent nearly 25 years on the buy-side of the alternative investment management industry, include most recently 10 years as the Chief Technology Officer at Highfields Capital. He now serves as the Chief Strategy Officer at Eze Castle Integration. John joined the podcast as our very first guest. He returns in this episode to talk about integrating new technologies and the importance of first understanding the underlying business environment. Along the way, John hits on a number of key topics, including the benefits of technology solutions and the advantage of using consulting firms to identify the best solutions, the...
2021-07-0725 minOperational LeadersElaine Chim Discusses Fund Administration in the Private Equity SpaceElaine Chim heads the private equity product for the Americas and APAC at the Apex Group. From her position, she maintains a unique view of the market for fund administration and a broader array of client services for private equity firms. In this episode, Elaine discusses the growing use of third-party administrators by private equity firms. She explains some of the trends behind this transition, including the importance of technology solutions that larger administrators can provide in scale, the ability to outsource functions that lead to cost savings and the need to follow an ever-increasing amount of reg...
2021-06-3025 minOperational LeadersAmy Bryant and Peggy Gielen on Jersey as a Fund Domiciliation JurisdictionJersey Finance celebrates its 20th year as a member organization formed to champion the competitive position of Jersey's finance industry. The celebration coincides with the Island of Jersey’s 60th anniversary as a leading finance center. In this episode, Jersey Finance Deputy CEO, Amy Bryant, and Legal and Technical Manager, Peggy Gielen, discuss the merits of Jersey for investment fund domiciliation. They talk about the origins of Jersey as a finance center and its investment funds focus. Amy and Peggy emphasize Jersey’s benefits, including professional expertise, political and fiscal stability and a consistent outlook from a regulato...
2021-06-2330 minOperational LeadersEvan Katz Shares his Insights on Raising Investor CapitalThe ability to raise capital is fundamental to the success of any investment management firm. Evan Katz often stands in the middle of that effort, serving as Managing Director of Crawford Ventures, a firm dedicated to helping hedge and PE funds grow, thrive and raise substantial investor capital. In this episode, Evan talks about his role advising firms looking to raise capital. He shares his observations about some basic fundraising principles, tips and best practices, and why some managers are much more successful than others. He discusses the importance of founders investing in the operational side of the...
2021-06-1629 minOperational LeadersShaun Murray Talks Collateral, Margin and DerivativesShaun Murray helps lead Margin Reform, a UK-based consultancy focused on helping clients address margin, collateral and legal issues in the derivatives, repo and securities lending space. He joined Margin Reform as CEO in 2019, teaming up with former colleague Chetan Joshi, the firm’s founder and COO. In this episode, Shaun provides some background on the development of the derivatives market and particularly the impact of the 2008 financial crisis. He explains how the crisis led to increased regulation and transparency and also changed how firms viewed collateral and the use of margin. Shaun also discusses how firms mana...
2021-06-0926 minOperational LeadersJames Newman Delves into Operational Due DiligenceIn November 2019 James Newman and his business partner, Quentin Thom, left their in-house positions and founded perfORM Due Diligence Services. Their firm is an innovative, flexible and technology-driven ODD service, and the first of its kind in the UK. In this episode, James talks about how he and Quentin saw the need for an independent third-party ODD service and what led them to create perfORM. He also discusses the types of assignments investors request and how those assignments have become more customized over the past few years. James describes the impact of the COVID pandemic, how the ODD...
2021-05-1924 minOperational LeadersBrian Davis Shares his Perspective on the Alternatives Industry through Legal RecruitingMore than twenty years ago, Brian Davis left his legal practice and became one of the top legal recruiters in the profession. He focused his talents on financial services and later became a recognized pioneer for concentrating his work in the alternative asset space. Today, Brian serves as the Managing Partner in New York for Major, Lindsey & Africa, the world’s premier legal executive search firm. In this episode, Brian shares his perspective on the alternative asset management industry. He discusses the hiring process for in-house counsel and the critical importance of finding the right cultural fit. He als...
2021-05-1223 minOperational LeadersJohn Phinney Discusses Operational Soundness and the Importance of Data, Research and AnalyticsJohn Phinney has held almost every C-Suite position in the investment management industry. He has seen some of the best practices - and the worst - on the operational side of the business. In 2013, he left the in-house world behind and co-founded Convergence, Inc., a firm committed to filling a void in data, research and analytics coverage of the Alternative Investments space. In this episode, John shares experiences and insights from his noted career. He talks about the importance of “tone at the top” for any firm to achieve sustained success, the correlation between the quality of a firm’...
2021-05-0532 minOperational LeadersJohn D'Agostino Explains the ABCs of CryptoJohn D’Agostino is one of the industry’s leading experts on cryptocurrency. He sits on the board of several of the industry’s largest crypto-focused hedge funds, leads the Digital Asset Working Group for AIMA and much more. He is also the former Head of Strategy for the New York Mercantile Exchange. John joins this episode to provide an overview to digital currency. He explains what people typically mean when they refer to “crypto,” and why a single definition can prove elusive. John talks about the origin of digital assets, how the market has evolved and some basics me...
2021-04-2831 minOperational LeadersMichelle Noyes on the Alternative Investment Industry's Top Trade AssociationMichelle Noyes serves as a Managing Director and Head of the Americas at the Alternative Investment Management Association (or AIMA), where she has worked since 2012. In this episode, Michelle provides an inside look at the industry’s top global trade associations and some of the challenges the organization faced and overcame this past year. In particular, she describes the goals of AIMA and how the organization set about fulfilling them on a remote basis, AIMA’s quick pivot after COVID to the use of digital technology to provide critical information and quality content, and some of the trends...
2021-04-2121 minOperational LeadersDavid Lewis Discusses COVID’s Impact and the Ability to Run a Successful FirmIn 2001, David Lewis founded a one-person consulting practice that has since grown to become OperationsInc, one of the largest HR consulting practices in the U.S. When the COVID pandemic hit nearly twenty years later, David and his team set out to become nationally recognized experts on all matters related to managing companies through the crisis and its eventual aftermath. In this episode, David discusses the crisis and some critical early lessons. He then shares his thoughts on why compensation arrangements are harder to predict in the near term than in the medium term. David also talks abo...
2021-04-1432 minOperational LeadersKathleen Muir Explains Brand Creation and ContentA key to every successful investment management firm is the ability to attract and retain capital. And that key begins with a story. Kathleen Muir, founder and CEO of the Muir Network brings her twenty plus years of experience in the alternatives industry to help managers develop and communicate their story or their brand. In this episode, Kathleen talks about lessons learned from her experience as both an in-house branding and marketing specialist as well as a trusted outside adviser. She explains the importance of developing a narrative that cuts through all the data, images and content, and...
2021-03-3129 minOperational LeadersRon Biscardi Talks Capital Introductions in the Digital EnvironmentRon Biscardi has spent the better part of his career in finance focusing on connecting investors and managers. Along the way, he built the world's largest capital introduction conference. In 2020, Ron saw the impact of the global pandemic and the resulting food insecurities that impacted so many. He decided to combine his ability to connect people with charitable efforts to address hunger issues. The result was iConnections, a software platform that serves the alternative investment world bringing together allocators and managers. In this episode, Ron tells his story – how he got started in the alternatives indus...
2021-03-2426 minOperational LeadersMark Fordyce on Comprehensive Outsourced Solutions.Mark Fordyce had an idea to create a firm that provides a full suite of outsourced services to alternative investment managers. Then he executed on it. The result - in 2009 Mark co-founded Blue River Partners which has since grown to become the preeminent outsourced service provider to the alternative asset management industry. In this episode, Mark talks about starting and growing Blue River Partners and a key early decision to combine legal and compliance support with accounting and operations. He also discusses the advantages to outsourcing, the trend and gradual acceptance of the outsourcing option. Along the way...
2021-03-1725 min
IQ-EQ PodcastMark Fordyce on Comprehensive Outsourced SolutionsA conversation with Mark Fordyce about fully integrated back-office services on the Operational Leaders podcast with host Terrance O’Malley. The podcast features leaders and innovators who discuss the business of running an asset management business. Mark Fordyce had an idea to create a firm that provides a full suite of outsourced services to alternative investment managers. Then he executed on it. The result - in 2009 Mark co-founded Blue River Partners which has since grown to become the preeminent outsourced service provider to the alternative asset management industry.In this episode, Mark talks about starting and gr...
2021-03-1625 minOperational LeadersRich Chen Makes the Case for the Boutique Law FirmAfter spending the better part of his 20-year career at top multinational law firms, Rich Chen decided to strike out on his own. In 2019, he started the boutique law firm of Richard L. Chen PLLC. He focuses on providing legal and business advice to investment management firms. In this episode, Rich discusses his career path, the vision for his legal practice, and why he believes that leading his own firm offers the best way to channel his passion and expertise to help clients. Rich adds his thoughts about the potential advantages a boutique law firm can offer cli...
2021-03-1022 minOperational LeadersGrace Reyes Promotes Diversity and Inclusion by Connecting Movers and ShakersGrace Reyes has become one of the most prominent voices in finance when it comes to promoting diversity and inclusion in the investment industry. In 2020 she founded The Investment Diversity Exchange (TIDE) to focus on these goals and create a united voice for diversity. In this episode, Grace talks about her career in finance and some of her experiences that lead to the creation of TIDE. She also discusses a core mission of TIDE to connect asset owner with managers to expand the scope of investment considerations. In addition Grace provides some helpful advice on networking and the...
2021-03-0323 minOperational LeadersAlan Meaney Talks Automating Fund Reconciliations and Data ManagementAlan Meaney stands at the forefront of the fintech movement that’s changing the operational side of investment management firms. He serves as the CEO and was co-founder of Fund Recs, a company originally built to automate the trade and transactions reconciliation process. Now Fund Recs is venturing out to help firms automate their internal process. In this episode, Alan talks about the fund reconciliation problem he and his co-founder saw when they started Fund Recs in 2013. He discusses the challenges in trying to develop industry-wide standards for the creation and transmission of data, and how that crea...
2021-02-2430 minOperational LeadersGary Berger on Audit, Tax and Advisory Services in the Private Fund IndustryGary Berger has spent over 30 years providing audit services and business advice to the private fund industry. Along the way, he became a trusted advisor to existing managers and a “first call” for start-up managers seeking a range of advice from organization structures to economic and tax issues. In this episode, Gary discusses how he got started in the accounting profession, his early days auditing hedge funds and some of the key changes to both the private fund industry and the auditing business. He also talks about his recent decision to join CohnReznick, and what it’s like to...
2021-02-1726 minOperational LeadersDan Nathan Flips the ScriptDan Nathan was a trader in the hedge fund business before pivoting his career to become a business advisor and market commentator, including his noted position as a regular panelist on CNBC’s Fast Money. He returns to the Operational Leaders podcast this week for the second part of a special two-part bonus episode. In part 2, Dan flips the script on host Terrance O’Malley and gets Terrance to open up and share some of his experiences and thoughts on the investment management business. Along the way they discuss the current launch environment and barriers to entry for pr...
2021-02-0222 minOperational LeadersDan Nathan on the Private Fund Business and His Role as Advisor and CommentatorBefore RiskReversal.com and RiskReversal Advisors, before the regular panelist role on CNBC’s Fast Money, Dan Nathan was a trader in the hedge fund business. He joins the Operational Leaders podcast for a special two-part bonus episode. Dan and host Terrance O’Malley swap personal stories about their experience in the asset management business and share insights into the private fund sector. In Part 1, Dan describes his early days as a hedge fund trader, and how he later pivoted to the next phase of his career as a business advisor and market commentator. Dan also shares a behin...
2021-01-2624 minOperational LeadersGovernor Martin O’Malley – Lessons from Leadership in the Information AgeAfter the election comes the governing. Few have been as innovative and successful as Martin O’Malley who served as the mayor of Baltimore and two terms as governor of the great state of Maryland. Many of the lessons he learned – chronicled in his new book, Smarter Government: How to Govern for Results in the Information Age – apply equally to running a smarter business. Governor O’Malley explains how he became an early adopter of technology and data-driven systems of performance management. He talks about how this approach brought greater efficiency, transparency and accountability. Go...
2021-01-0643 minOperational LeadersSeason Two: Outtakes and BloopersThanks for listening to Season Two of the Operational Leaders podcast! To wrap up the season on a lighter note, we put together a brief episode featuring outtakes and bloopers. Enjoy. And please check out our season finale on Wednesday, January 6th. We’ll be joined by a very special guest who will discuss data driven systems of performance management, change integration and leadership. We’ll see you again a few weeks later for the start of Season Three. In the meantime, you can find a...
2020-12-3013 minOperational LeadersNida Panchee on the Growth of Outsourced ServicesFor almost twenty years, Nida Panchee worked in-house for private equity firms on both the investment and the operations sides. Then she decided to take a step back. But she soon found herself with growing list of projects and clients. From that beginning, she founded Panchee Advisory, an up-and-coming outsourcing firm. In this episode, Nida discusses her professional experience and how she has grown Panchee Advisory. She also shares insights on where the demand for outsourced services is coming. In addition, she describes a growing trend to outsource even the “Chief of Staff” position tasked with coordinating all othe...
2020-12-2321 minOperational LeadersYohan Kim Discusses Managed IT and the Importance of Data ManagementPerhaps no area in the investment management business evolves as quickly, constantly or significantly as information technology. Yohan Kim and his team at RFA are among the industry’s leaders in responding to these changes and providing clients with tailored IT solutions. Yohan currently serves as President and CEO of RFA. He joins the podcast to talk about how the IT business has evolved over the past decade or more, including some of the major themes. In particular, he highlights the use of data, both as an investment research tool and as a means for the efficient opera...
2020-12-1624 minOperational LeadersIngrid Pierce Explains Offshore Jurisdictions and the Appeal of CaymanIngrid Pierce is one of the world’s top fund attorneys. She serves as the Global Managing Partner at Walkers and heads the firm’s Cayman Investment Funds Group. In this episode, Ingrid answers the fundamental question, why Cayman? She explains the reasons behind the use of offshore fund vehicles and how Cayman – with its well establish set of regulations, stability and cadre of resident experts – has become the jurisdiction of choice for offshore fund formation. Ingrid also discusses the importance of Cayman maintaining regulations that meet international standards while also taking into consideration commercial expectations of the busine...
2020-12-0922 minOperational LeadersBill Salus Adds his Independent Perspective on the Fund Administration BusinessBill Salus has spent the past 30 years in the fund administration business, and previously served as Global Chief Executive Officer for Apex Fund Services. He is now the CEO and Founder of Paddock Consultancy, a firm that advises asset, fund, and investment servicing firms on engagements across the investment management ecosystem. In this episode, Bill adds his unique and independent perspective on the state of the fund administration business. He explains how fund accounting remains at the heart of the business, but that it is transforming to more of a data-oriented business. In addition, he sees fund adm...
2020-12-0228 minOperational LeadersMeredith Moss Automates the Investor ExperienceThere has to be a better way to invest in alternative funds. Meredith Moss and her team at Finomial have found one. Meredith has been leading Finomial as CEO since its start in 2011. The company has created a client lifecycle management platform enabling digital client onboarding for investors and their fund managers and administrators. In this episode, Meredith explains the persistent problem with a paper-based system for completing investor subscription documents and why it has been such an industry challenge to automate the process. She also talks about how regulation and compliance requirements drive automation developments at F...
2020-11-1822 minOperational LeadersPete Cherecwich Explains the Expanding Role of Asset ServicingPete Cherecwich serves as the President of Northern Trust Asset Servicing where he oversees 10,000 employees and multiple business lines. From this position, he has a unique perspective on the asset management business. In this episode, Pete provides background on the evolution of the asset servicing business from custodian to fund administration and to outsourced services such as data analytics and trading. He also provides his views on the future of the buy side firm and what he sees as the inevitable trend toward the core functions of portfolio management and distribution. In between, he shares some thoughts on...
2020-11-1125 minOperational LeadersRado Lipuš on Sourcing and Assessing Alternative DataThe quest for alternative data has grown exponentially over the past few years, and so have the challenges of identifying and assessing the value of alternative data sources. Rado Lipuš and his team at Neudata have been at the forefront of helping investment management clients find, evaluate and select new data sources that will advance their investment processes. In this episode, Rado shares his experience working in the alternative data field. He explains what constitutes alternative data, how it's identified, and who uses it. He also discusses some recent trends involving the use of alternative data, and offe...
2020-11-0425 minOperational LeadersMike DeSanti on the Technology Reshaping the Middle and Back OfficeOver the course of his 40-year career in FinTech, Mike DeSanti has been at the forefront of almost every technological advance in the business. He believes we are in the midst of another great movement forward. In this episode, Mike talks about his role as President of LightPoint Financial Technology, a firm he joined in 2017 to help build a flexible and modern trading, risk and accounting platform using the latest software design and infrastructure technologies. He explains some of the key drivers – including open source software and the cloud – propelling the ability to create an integrated system for mu...
2020-10-2825 minOperational LeadersMelissa Kelley-Hilton Speaks About Investigative Due DiligenceFor the past 20 years, Melissa Kelley-Hilton learned her investigative skills in a variety of roles and increasing leadership positions. She recently decided to strike out on her own and start Hilton Global Associates, an investigative due diligence firm. In this episode, Melissa talks about her experience in the business, what lead her to start her own firm and the types of assignments her firm performs in the investment management space. She is also joined in this episode by her firm’s new Chief Operating Officer, Randy Shain. No stranger to the asset management industry, Randy has more than...
2020-10-2128 minOperational LeadersFrank Byrd on the Transition from Hedge Funds to Outsourced Family OfficeIn 2003, Frank Byrd served as co-portfolio manager for one of the year’s biggest hedge fund launches. Today he is the Founder and CEO of Fielder Capital Group, a firm that serves as an outsourced family office. In this episode, Frank discusses his journey and transition to an outsourced family office, including some of the key moments along the way. He also explains why he is excited about the financial advisory role that he plays at Fielder Capital, the advantages he sees in the family office model, and the importance of being an independent, fee-only fiduciary. He also...
2020-10-1423 minOperational LeadersLeslie Picker Covers the Asset Management Industry for CNBCLeslie Picker spends her days steeped in the investment management industry looking for the next big story – whether breaking news, identifying an emerging theme or landing an exclusive interview. In this episode, Leslie talks about her career and how this rising star went from Kansas to New York City. She discusses her passion for journalism, her transition from print media to television and digital media, and how reporting through different formats requires slightly different skill sets. She also explains how an interesting story and quality research remain at the heart of all good journalism. In addition, Leslie revea...
2020-10-0728 minOperational LeadersEd Klees Takes the Allocators' Side of Fund AgreementsSometimes the decision to make an investment can turn on the contents of a fund’s offering documents. Few people understand that better than Ed Kless. Ed has been a trusted advisor to some of the nation’s top endowments and other leading institutional allocators for over 25 years. He has held the position of General Counsel at the University of Virginia Investment Management Company, and for the past five years, he has served his clients as outside counsel and partner at the Hirschler law firm. In this episode, Ed covers a wide-range of topics involving investment agreements, includi...
2020-09-3026 minOperational LeadersChristine Chang Talks about the CEO Role and Family OfficesChristine Chang has spent the better part of her career in the investment management business, and a significant amount of that time working in family office organizations. Most recently, she held the position of Chief Executive Officer. In this episode, Christine recaps her career. She explains how, with a liberal arts background, she rose to the position of CEO by consistently seeking out roles involving the most quantitative challenges. She also talks about her experience in family offices, including how they operate, how they invest and how they vary from one office to the next. In addition, she...
2020-09-2321 minOperational LeadersJason Duffy Explains Employee Health InsuranceJason Duffy started selling insurance to hedge funds in 2000. At about the same time, he founded Fieldstone Investment Group, a specialized insurance and benefits brokerage focusing primarily on alternative asset managers, as well as family offices, investment advisors and other professional firms. His firm brokers a full range of insurance products. In this episode, Jason take time to discuss one of the more critical but complicated products – employee health insurance. He provides an overview of the product and explains the market’s evolution, including the rise of the professional employer organization (or “PEO”). He also offers insights on how to ch...
2020-09-1628 minOperational LeadersAnthony Scaramucci of SkyBridge Capital Provides the Founder’s PerspectiveIn 2005, Anthony Scaramucci founded the investment management firm SkyBridge Capital. It was the culmination of 15 years in the industry that began at Goldman Sachs. Since then, Anthony and his team have weathered the ups and downs of the financial markets to turn SkyBridge into one of the industry’s leading firms specializing in fund of hedge funds products and hedge fund advisory solutions. In this episode, Anthony talks about his career in the investment management industry and some of the lessons he learned along the way. He discusses the impact of getting fired from his first job at G...
2020-09-0933 minOperational LeadersGregory Zuckerman, Author and Special Writer for the Wall Street Journal, Discusses His Latest BookGregory Zuckerman has spent more than twenty-five years covering some of the biggest stories in the private fund industry. Along the way, he developed a keen interest in the incredible investing prowess of Jim Simons and his firm Renaissance Technologies. And Greg wanted to write a book about it. Though reluctant at first, Simons and dozens of current and former Renaissance employees eventually gave Greg unprecedented access. The result was his latest book and New York Times Best Seller, “The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution.” In this episode, Greg tal...
2020-07-2128 minOperational LeadersSeason One: Outtakes and BloopersThanks for listening to Season One of the Operational Leaders podcast. To wrap things up on a lighter note, we put together a brief episode featuring outtakes and bloopers. Enjoy. And please check back over the summer for the occasional pop-up episode. We’ll see you again in the fall for Season Two.
2020-07-0911 minOperational LeadersMichael C. Neus - Author, Scholar and Esteemed Industry Veteran - on the State of the Alternatives IndustryOver the past two plus decades, the alternative fund industry has seen its share of changes, including on the operational side of the business. Michael C. Neus has been there to help guide some of the top firms through these changes. He has served as a General Counsel, a Chief Compliance Officer and a Chief Operating Officer. And he recently co-authored/edited a book, “The Insiders’ Guide to Hedge Funds: Successfully Managing the Middle and Back Office.” In this episode, Mike shares his views on the state of the alternatives industry as one of the most respe...
2020-07-0224 minOperational LeadersKatherine Burton Shares the Journalist PerspectiveFor more than two decades, Katherine Burton has been a groundbreaking journalist for Bloomberg News. She has been at the forefront of every major story involving the alternative fund business, often breaking major stories of the day. She also wrote a watershed book chronicling some of the leading managers in the 2000’s and their response to the 2008 financial crisis, Hedge Hunters, After the Credit Crisis: How Hedge Fund Masters Survived. In this episode, Kathy brings her unique perspective to describing the rise and maturation of the alternative fund business. She discusses the role of the journalist and what...
2020-06-2519 minOperational LeadersTim O'Shea on Listed Derivatives and the Futures MarketThe world of listed derivatives and futures is a place not well known to many in the asset management industry. For those on the outside, it can seem quite distant and opaque. Tim O’Shea joins this episode to help shed light on listed derivatives and the futures market. Tim has spent the better part of 30 year in the business and now serves as President and Chief Operating Officer of Thalēs Trading Solutions. He provides a broad overview of financial instruments falling in the category of listed derivatives (including futures), presents a framework for understanding how the fu...
2020-06-1822 minOperational LeadersMeet the Journalists - The HFM TeamThe journalists who write the stories are often as interesting as the industry they cover. They can also help shape public perceptions about firms, managers and investors. This episode marks the first in a series of periodic interviews with leading journalists who cover the alternative fund business. In this episode, we hear from three top professionals at HFM: Jennifer Banzaca, the Compliance Editor, Michael Paterakis, the Investment Editor, and Thomas Duffell, the U.S. News Editor. Each has a different segment in which they describe how they got started in the business, reveal some of their favorite sto...
2020-06-1125 minOperational LeadersBart McDonough Provides Valuable Lessons on Managed IT and CybersecurityTechnology can be a great thing. But harnessing its possibilities requires the right professionals and the right protections. Bart McDonough, the CEO and Founder of Agio, has spent more than 20 years working in cybersecurity, business development and IT management within the alternative fund industry. Ten years ago, he founded Agio a hybrid managed IT and cybersecurity services provider for the financial services industry. He also launched his debut book, Cyber Smart: Five Habits to Protect Your Family, Money, and Identity from Cyber Criminals, in early 2019. In this episode, Bart discusses managed IT and cybersecurity, where they overlap, how th...
2020-06-0427 min
Incubator Hedge FundTerrance O’Malley, Author of Insider’s Guide to Hedge FundsTerrance J. O’Malley founded TJO Management in 2018 to provide consulting services and market intelligence to the investment management industry.
Throughout his 25-year career, Terrance has served firms as both a trusted outside adviser and as a key in-house executive. Drawing on this experience, he provides a variety of consulting services and lends his judgment to complex problems faced by the industry’s top firms.
Terrance also hosts Operational Leaders, a podcast he created in 2019. The podcast features leaders and innovators responsible for “the business of running an investment management business”. In addition, he publishes a popula...
2020-06-0319 minOperational LeadersJoseph Signorile Discusses the Chief Operating Officer RoleIt all rolls up to the Chief Operating Officer. For over 15 years, Joe Signorile has held the COO position in the private fund industry. He also founded Our Peer Group (“OPG”), a leading best-in-class private network of COOs and CFOs that enables peer-to-peer communications. Joe joins this episode to discuss the responsibilities and challenges presented by the Chief Operating Officer role. He talks about the qualities that make a good COO - understand all areas of the business, managing people and gaining the confidence of the portfolio manager/owner. He also offers some thoughts for vendors on the impor...
2020-05-2824 minOperational LeadersPoseidon Retsinas Tackles Trading Agreements for the Buy SideTrading agreements are lengthy and complicated. The consequences of missing an issue or getting bad terms can be significant, particularly in times of turbulent markets. Getting the best terms requires focus, dedication and deep industry knowledge that is not always easy to find. Attorney and business person, Poseidon Retsinas, saw an opportunity. In 2019, he launched a law firm called HedgeLegal that specializes in helping the buy side negotiate its trading agreements. In this episode, Poseidon talks about some of the factors that led him to launch HedgeLegal. He also talks about his business model and how his...
2020-05-2125 minOperational LeadersScott Chace Explains Outsourced TradingOutsourced trading isn’t new. Twenty years ago, Scott Chace and his business partner, Robert Fleming, co-founded CF Global Trading. The firm has since grown into one of the leading outsourced trading solutions for institutional asset managers. In this episode, Scott talks about the origins of outsourced trading, and why its appeal has grown in recent years. He also looks at trends in the business, provides thoughts on what managers should consider when looking for an outsourced trading firm and explores some of the advantages of the outsource trading model. To learn more about Scott an...
2020-05-1417 minOperational LeadersJosh Barlow on the Role of Independent Fund DirectorsJosh Barlow spent over twelve years at PAAMCO where he led Operational Due Diligence and Accounting. This experience reinforced his view on the importance of fund governance and the value of independent directors who can deliver both oversight and practical guidance. In 2018, Josh left PAAMCO to become the founder of Valhalla Fiduciary, a consulting firm whose core service is to provide independent non-executive directorships within the asset management industry. In this episode, Josh discusses the circumstances that led him to create Valhalla Fiduciary. He also discusses the role of the independent director, including topics such as why th...
2020-05-0722 minOperational LeadersPaul Calderone Talks Treasury ManagementAs firms grow and counterparties multiply, the job of tracking and managing cash, collateral and other aspects of treasury becomes increasingly challenging – and critical. Paul Calderone, the Chief Operating Officer at Hazeltree, joins this week’s episode to discuss treasury management for alternative investment firms. With over 30 years of experience in the alternative space, Paul has gained a unique perspective on treasury management and technology. He shares his experience in this episode, including the importance of aggregating data to have an accurate understanding of cash, portfolio finance and capital usage. Paul also discusses how firms might optimize their...
2020-04-3021 minOperational LeadersCosimo Montagu Looks Forward to the Next Top Industry ConferenceOne day, we’ll all be able to get together again, maybe at some sunny tropical location to attend a top industry conference. When we do, Cosimo Montagu, Editor and Organizer of the GAIM Ops event series, will be ready. In this episode, Cosimo provides a behind-the-scenes look into what it takes to pull off one of the top conferences in the investment management industry. Planning starts up to six months in advance, with endless hours of coordinating, hundreds of calls with the industry’s top professionals, and countless revisions to the agenda. Cosimo discusses topic selections, logis...
2020-04-2319 minOperational LeadersKimberly Patlis Walsh Explains the Insurance LandscapeInsurance can be a world unto itself, with It’s own language, all sorts of different players and multiple types of coverages. Kimberly Patlis Walsh, President and Managing Director at Corporate Risk Solutions, has spent the better part of her 20+ year career helping investment management clients navigate the insurance landscape. In this episode, Kim talks about the role of Corporate Risk Solutions as an independent advisor and explains the range of different market participants from brokers to insurers to re-insurers. She also discusses the types of coverages typically obtained by investment management firms. Kim concludes with some concr...
2020-04-1623 minOperational LeadersFizza Khan Discusses the Role of the Compliance FirmCompliance veteran Fizza Khan started Silver Regulatory Associates in 2018. As CEO of a now ten-person firm, Fizza saw an opportunity to establish a consultancy that capitalized on her compliance experience and her views on the best model for delivering compliance advice. In this episode, Fizza discusses the impact of Coronavirus on her firm and on the compliance function generally, including how her firm and her clients are overcoming the challenges of social distancing. She also shares her thoughts more broadly on how compliance consultants can add value at different points in an investment firm’s growth. Fizza also...
2020-04-0923 minOperational LeadersBrian Shanly on Outsourcing the Back OfficeOutsourcing back office functions has been a growing trend in the investment management field. The coronavirus pandemic will likely accelerate that trend. 2912 Advisors sits at the top of a new generation of outsourcing firms, providing a high-quality, high-touch option with the added benefits of operating remotely and creating functional redundancy. Brian Shanly, co-founder of 2912 Advisors, joins this episode to talk about outsourcing. In our interview – originally conducted in early February – Brian covers a variety of topics, including the efficiency afforded by outsourcing, services typically provided, when it makes sense to outsource, and the future of the outsourcing model. ...
2020-04-0216 minOperational LeadersJack Inglis, CEO of AIMA, on the State of the Alternatives IndustryJack Inglis leads the alternative investment industry’s top international trade association, with around 2,000 corporate members in more than 60 countries. Jack spent 25 years in a variety of senior executive roles throughout the alternatives business before becoming the CEO at AIMA in 2014. Jack joins the Operational Leaders podcast to discuss what it means to be an industry association and the importance of fostering collaboration, peer-group interactions and best practices. He also gives his views on issues such as the need for operational excellence, the impact of margin compression, and the moderation of Investors’ expectations regarding returns. For mo...
2020-03-2620 minOperational LeadersMonel Amin Talks about Digitizing Due DiligenceLeader and innovator, Monel Amin, saw a problem and set out to fix it. The due diligence process of exchanging information between allocators and managers was manually intensive, administratively burdensome and most importantly, a two-sided problem. Together with her team of experts, Monel created DiligenceVault, the first two-sided digital diligence platform for investment managers, asset owners and allocators. In this episode, Monel describes the events that lead to the creation of DiligenceVault, as well as some of the product’s key features and functionality. She then discusses more broadly the impact of technology on the investment management indus...
2020-03-1923 minOperational LeadersBill Kelly, CEO of the CAIA Association, Talks about Alts Investing and its FutureWilliam J. “Bill” Kelly is the CEO of the Chartered Alternative Investment Analyst Association (“CAIA”). Formed in 2002, the CAIA Association has 12,000 members worldwide, 31+ CAIA chapters and sponsors over 250 events annually. Its Charter designation has become the globally-recognized credential for professionals managing, analyzing, distributing, or regulating alternative investments. In this episode, Bill covers a wide-range of issues involving the current state of the alternatives industry and its future. He discusses topics such as asset growth, the benefits of understanding portfolio construction and risk metrics, the challenges of accessing the private markets (particularly for retail investors who need to manage the...
2020-03-1225 minOperational LeadersTom Hardin Tells his Tale of Insider Trading, and its ConsequencesOne of the most powerful stories on the Street. For a few insider trades and about $46,000 in personal profits, Tom Hardin threw away his bright future as an investment analyst. The FBI tracked him down and tapped his shoulder. Facing inevitable felony charges, Tom became “Tipper X,” the government’s most productive cooperating witness in Operation Perfect Hedge, a sting set up by the federal government in 2007-2008 targeting the hedge fund industry. In this episode, Tom recounts his decision to engage in insider trading and its consequence. He then goes on to discuss his life in the ten ye...
2020-03-0521 minOperational LeadersSteve Bruce Discusses Media Communications and BrandingSteve Bruce has been referred to as the Dean of Alternative Fund Strategic Communications. For 40 years, he has helped some of the top hedge funds and private equity firms navigate the tricky waters of public relations. And in 2010, he co-founded his own public relations firm, ASC Advisors. In this episode, Steve talks about some of the key public relations issues facing alternative fund managers – from start-ups to firms with over $100 million in AUM. He also describes some of the historical events that helped shape manager attitudes about public relations. In addition, Steve discusses the importance of branding and in...
2020-02-2724 minOperational LeadersDes Johnson on the Fund Administration BusinessWhere passion, enthusiasm and executive skills combine with the fund administration business, you will find Des Johnson, CE0 of Centaur Fund Services USA. Des has over 20 years of experience in the investment fund industry holding top positions at some of the industry’s leading fund administrators in Ireland, Bermuda and the United States. In this episode, Des recounts the history of the fund administration business, from offshore funds and the “ten commandments” to the Madoff-era scandals and investors’ insistence on an independent service provider. He also points out the pitfalls in commoditizing the business and the importance of customi...
2020-02-2024 minOperational LeadersNorm Champ, Former Top SEC Regulator, Author, Speaker and Law Firm PartnerOne of the industry’s true Renaissance People. Author. Speaker. Partner at Kirkland & Ellis. And former Director of the SEC’s Division of Investment Management. In this episode, Norm Champ discusses his latest book, Mastering Money. He talks about how his time at the SEC helped inspire the book and shape his views on achieving financial security. Norm also talks about how his career path led to the SEC, some of the challenges of working for a government agency and his accomplishment at the Commission. He also discusses his law practice in the years since leaving the SEC and offe...
2020-02-1323 minOperational LeadersAndrea Colabella, Executive Recruiting for Investment ManagementTen years ago, Andrea Colabella and her business partner, Steve Shapiro, set out to start their own executive search firm, the Cardea Group. They focused their efforts on the operational and infrastructure side of the investment management business. Now Andrea is one of the up and coming leaders in the executive search field. In this interview, Andrea talks jobs – where they are and how firms can find the right candidates. She also discusses some of the challenges of starting and building a business. Along the way, she offers up some important tips and reminders, and describes what ma...
2020-02-0620 minOperational LeadersMichael Merrigan Discusses Operational Due DiligenceMichael Merrigan officially starts season one of Operational Leaders with a discussion on operational due diligence. Michael is a rising star in the business with 20 years of experience and the founder of Shadmoor Advisors, an independent ODD consulting firm he established in 2014. Michael covers a broad range of topics including a discussion about the evolution of ODD from operations to a more wholistic review of enterprise risk. He also provides his view on the ODD evaluation deliverable - an assessment of the risks and related market color which individual investors should then use to make their own i...
2020-01-3021 min
Operational LeadersPreview Episode with John BrennanJohn Brennan kicks off the Operational Leaders podcast series with a discussion about information technology and the role of the Chief Technology Officer. John is a 25-year industry veteran and most recently spent nearly 10 years as the Chief Technology Officer at Highfields Capital. In this episode, John discusses the importance of standards and procedures, managing both the hardware and software sides of an IT department, integrating IT within business units and the importance of speaking to business teams in words and concepts they will understand. He also discusses implementing technology solutions for start-ups. John is al...
2020-01-0920 min
Model Rail RadioModel Rail Radio #167: The Brothers O'Malley [December 14, 2019]Terry Terrance's final operating session at his current location was a success and they discuss Tony Koester's two rail O scale article in the hallowed publication. Dave Barraza has been holding regular operating sessions and discusses his weekly round-robin group. John Garaty has a couple of early Christmas gifts. Eric O'Malley (brother of Will) introduces his model railroading interests. Will O'Malley has been working on terminal modules. Todd Hermann has been working on his HO Lehigh and New England Railroad layout. http://www.modelrailradio.com/archive.html#167
2019-12-151h 18