29: Dame Anne Richards: CEO, Fidelity International

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 25 February 2021

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our guest today is Anne Richards, CEO of Fidelity International, who offer investment solutions, investment services and retirement expertise to more than 2.5 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, they think generationally and invest for the long term.

Fidelity International operates in more than 25 countries and with $706.3 billion in total assets, their clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.

Anne describes her upbringing in Edinburgh, the decision to study electronic and electrical engineering, spending time at CERN, before going to INSEAD for an MBA. She describes the purpose of Fidelity International and the changing demands of the investing population. Anne discusses the ability of technology to serve clients (of whom they have 2.5 million!), as well as developing a culture that embraces and encourages the “brave/bold/curious/compassionate”.

Anne explains how ESG principles are embedded into all their research work and why their approach to ESG does not necessarily mean divestment is the optimal course. She talks about the decline of public market listings, the importance of research in public and private investing and giving their managers enough room for manoeuvre. Finally, she talks about her drive and hunger to have more women work in finance and gives great advice to “worry less” for those thinking about their careers.

Transcript

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0:00.0	Welcome to the Money Maze podcast. I'm Simon Brewer and Will Campion and I have created this show to explore and unravel some of the mysteries surrounding the investment business.
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1:01.0	We're delighted that Vermont will be sponsoring the Moneymay's podcast throughout this year.
1:06.6	Vermont is an award-winning British company that produces beautifully engineered chronometers,
1:12.0	designed to appeal to those who share the passion and appreciation of the innovation and mastery behind a beautiful mechanical wristwatch.
1:20.2	Brought to you by the luxury British watchmaker, Bramont.
1:26.1	Fidelity is a 15th century French word for faithfulness. Anglicised the Fidelity,
1:31.9	it became the name for a new investment business in 1946 by its founder, Edward Johnson.
1:37.5	Today, Fidelity Investments is one of the largest asset managers in the world, with $3.3 trillion
1:43.5	in assets under management,
1:46.0	50,000 global employees and over 20 billion in revenue. And unusually, the company remains private,
1:53.3	and family and employees still own over half of the equity. And today we're extremely lucky
1:58.9	to have the chief executive of its international business, Fidelity International, Anne Richards. Fidelity International was established in 1969 and became independent of the US organisation in 1980. So Anne, a very warm welcome to the Money Maze podcast.
2:15.6	Oh, thank you very much. I'm delighted to be here. Great. Well, you are fourth, Scott. To come on the Money Maze podcast. Oh, thank you very much. I'm delighted to be here.
2:17.6	Great. Well, you are fourth, Scott. To come on the Money Mace podcast, we had Neil Ferguson,
2:22.7	Dave Yarrow, Martin Gilbert. And I think you were educated in Edinburgh. I'd love to hear a little bit
	...

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