1: Peter Harrison CEO, Schroders PLC.

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 25 March 2020

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Peter Harrison, included in Debrett’s 500 most influential people, starts by describing a rebellious youth that led him to reject his family’s wish to study Theology at Oxbridge and instead to make a decision to go to Bath University to study Business in the 1980s.

From there he talks of his first job at Schroders, working as an analyst, and further experiences he had at Newton, Flemings, Deutsche Asset Management and then a start-up, RWC. Peter describes their merger with Schroders and his ascent to CEO, and the journey from managing money to managing an investment business.

The conversation moves to him talking about the compelling opportunities in Global Asset Management, contrary to some gloomy commentaries that we often read. He talks of the shift to managing money to solve problems and not simply to be benchmarked, and the evolution of active and passive strategies. He describes Schroder’s vision of serving the individual customer, both affluent and high net worth, with the help of more electronic applications, a wider public and private offering and trying to help them avoid classic pitfalls of poor timing in entering and exiting the market.

He also explains why although he thinks ESG must be embedded in your investment process, it will morph into a more coherent drive for impact investing. Peter also gives his thoughts on the growth of private equity, and the challenge facing stock markets buffeted by weighty regulation and diminished liquidity.

He then discusses advice for the young thinking about future career, and some of the characteristics he looks for in potential hires.

Transcript

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0:00.0	Welcome to the Money Maze podcast. I'm Simon Brewer, and we've created this show to explore and unravel some of the mysteries surrounding the investment business.
0:19.3	And we hope through direct and insightful interviews with
0:22.3	masters of the real-life money maze, we're going to learn about different approaches to
0:27.5	allocating capital, making investment and business decisions, and navigating the pitfalls that line
0:34.2	the paths to prosperity. Whether you're a current or aspiring investor or a student
0:39.3	exploring career options, we hope you gain some helpful insights and enjoy the shows. Thank you for
0:45.6	listening. My guest today is included in DeBretz as one of the UK's most influential people.
0:53.8	He sits on the takeover panel.
0:55.5	He's a member of the Diversity Project, a patron of the Prince's Trust,
0:59.4	and has an honorary doctorate from the University of Bath.
1:02.7	His day job, however, is chief executive of one of the UK's leading asset managers, Schroeder's.
1:08.5	Peter Harrison, welcome to the MoneyMays podcast.
1:12.4	Thank you. I'd like to start with the early days and so maybe we could talk a little bit about growing up where I think you grew
1:16.4	up in Cheshire. Tell me a little bit about your childhood. Early days, I don't remember a great
1:19.8	deal. I remember being sent away to school at the age of seven, which was a forming experience.
1:24.3	We sort of very, very tough boarding school, which put out a lot of rugby teams, a lot of
1:28.8	cross-country teams, and we did nothing but sport and a modest amount of education. I then was a bit
1:34.4	of a rebel, so my father was absolutely clear that I was going to go to Cambridge and read theology.
1:40.5	So I found the one university that did business administration in the country, much to his disgust, and became not a lawyer, which was the one thing I had to become.
1:49.5	I had to be a lawyer and accountant.
1:50.6	I think it took him about 30 years to get over the fact I didn't join a professional services firm.
1:54.3	But business administration, back in the 80s, was an unusual route.
	...

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