Hello, I'm Ted Sides, and this is Capital Allocators.

This show is an open exploration of the people and process behind capital allocation.

Through conversations with leaders in the money game, we learn how these holders of the keys to the kingdom allocate their time and their capital.

You can join our mailing list and access premium content at capital allocators.com.

Today's sponsor insight is from MFS, the $530 billion asset manager founded in 1924 and credited with creating

the first mutual fund. My guest is Carol Jeremiah, president and head of global distribution,

where she oversees the firm's worldwide client-facing efforts and helps drive MFS's long-term corporate strategy.

In her 37 years at MFS, Carol has served as co-head of global distribution, president of the

firm's institutional business, and president of MFS retirement services.

Our conversation covers Carol's early years at MFS, path to her current role, the firm's

hundred-year history, and its culture. We dive into the firm's research process, team structure,

and strategic evolution, and then turn to what Carol is hearing from investors, opportunities

and risks, ESG, and driving change in the industry.

Please enjoy my conversation with Carol Jeremiah.

Carol, great to see you.

Yeah, nice to see you too.

Well, why don't we start with taking me all the way back to your journey within MFS?

Well, I started literally right out of school, and it was a job I had seen in the newspaper.

But really, it actually wasn't specifically to go to Massachusetts Financial Services.

It was through a recruiting firm.

And so I had to respond to the ad through the recruiting firm. And the reason I even tell that piece of it is because the woman who I met with

and who ran the firm herself was working with MFS and places like Bain and other financial

...