Bringing external expertise in: Fund Boards Council talks to Henrietta Jowitt, Deputy Director General, CBI about what iNEDs from outside the asset management industry can bring to the industry’s boardrooms.
With a little over 4 months left for many asset mangers to hire at least two new iNEDs on to their mutual fund boards, it’s clear that while some firms are well advanced in their recruitment, a considerable number are still quite some way from signing on the dotted line.
Among the issues with which firms are grappling is how to balance hiring iNEDs who have the industry know-how to help with complex new requirements such as Assessment of Value while at the same time shaping their boards to benefit from greater cognitive diversity.
This was a topic discussed when Fund Boards Council met recently with Henrietta Jowitt, Deputy Director General of the Confederation of British Industry (CBI) and FCA approved Non-Executive Director for the latest in our series of video interviews with leading industry professionals.
With several high profile board roles under her belt and expertise spanning industries such as asset management, Fast Moving Consumer Goods (FMCG) and professional services, Henrietta outlines in the video why she believes there are benefits to asset managers considering prospective iNEDs from outside the industry.
In the video, recorded as part of the “UK Fund Boards Meets…” video series and before the formal launch of Fund Boards Council, Henrietta discusses how those from outside asset management can bring useful perspective and best practice on topics as seemingly industry-specific as Assessment of Value.
As an example, she talks about her own experience of working in FMCG, where mapping the value chain helped ensure the business had complete visibility of value to the end user, in a way that is not yet typically done in financial services.
She also outlines the considerations for iNEDs starting a role on a new board and how asset managers can support and benefit from greater diversity on their boards.
Click here to watch Henrietta’s interview.