Meet the team

I joined Newton in late 2006 as an Assistant Investment Manager in Private Investment Management (PIM), which manages money on behalf of private clients and charities.  I found out about the job while temping in the Edinburgh office following completion of my degree in History at the University of Bristol; this kind of movement between roles is not uncommon at Newton where internal applicants are encouraged.

I came down to London for a series of interviews and was immediately struck by the incredibly friendly and open environment.  I was also reassured by the fact that not all graduates at Newton have degrees in Economics or Maths, neither of which I had studied at A-Level.  Needless to say, this was not set to continue as I was soon put back on the exam treadmill, completing the IMC soon after arrival and then embarking on the CFA.  I followed an internal graduate training programme, which involves spending time in each department so that we understand how the business works as a whole.

The last few years have been nothing if not a trial by fire in terms of markets so it was exciting to get signed off as an Investment Manager in April 2009.  Newton is brilliant at rewarding junior members of staff with responsibility early on in their careers and I now manage several portfolios of my own.  I sit on the International Team, which means that I specialise in managing portfolios for offshore private clients, trusts and companies.  We manage portfolios for every type of client so it has been excellent to get exposure to all asset classes and mandates.  Private Investment at Newton is in the enviable position of being linked into the Institutional side of the business, which means that we are part of a very well established investment process.  Most importantly, we have direct access to Newton's team of in-house analysts and the ability to attend company meetings with the senior management of the world's top companies.  The mantra at Newton is very much for everyone to speak up in terms of investment views from an early stage.

The role of a Private Client Investment Manager is always varied.  We are responsible for managing client and model portfolios, looking after client relationships, pitching for new business, fostering business development relationships, a healthy dose of admin and client reporting and, at the heart of what we do, contributing to the investment debate.

It is almost impossible to describe a typical day but one might include…

8.00 am:  Arrive at work and catch up on e-mails, the US and Asian markets, and read the financial press.
8.45 am:  Attend the morning investment meeting where the analysts comment on company news overnight and fund managers discuss ideas.
10.00 am:  Host meeting with a private client to discuss the performance of their portfolio, catch up on their financial circumstances and discuss our economic outlook.
1.00 pm:  Attend a lunchtime sandwich meeting with an Institutional Fund Manager to hear about what action they have been taking in their fund.
3.30pm:  Sit down with team over coffee to look at asset allocation across portfolios and discuss recent analysts' recommendations.
6.00pm:  Attend drinks party at law firm's office to meet potential sources of new business.

I studied History at University of Bristol and applied to Newton (in 2000) having been interested in a career in investment management for some time.  From a graduate's point of view I would say that Newton's strength is its inclusive culture and relative size.  These factors enable trainees to get fairly high-level exposure (eg - company meetings etc) almost from day one.  Although there is a structured graduate program, trainees progress at their own pace, hard work and potential being rewarded with greater responsibility sooner than might be the case at larger organisations.

While there is no typical day here, an average day for me could include the following:

8:00am   -   Catch up on overnight developments in US and Asian markets at desk
8:45am   -   Morning meeting, listen to company results updates from analysts, discuss new recommendations and ideas
9:00am   -   Digest the day's results and newsflow
9:30am   -   Discuss Telecoms' analyst's new recommendation in greater depth with analyst and desk members, action purchase of new holding
10:30am   - Focus group with Retail analyst and 3 other fund managers to discuss US Retail stocks
11:45am   - Meet with Marketing, Client Servicing teams to update on fund performance, positioning and outlook
2:30pm  -   Attend weekly European Equities meeting
4:00pm  -   Company meeting with senior management of Cadbury Schweppes.

I joined Newton in 1999, having spent 6 years as an investment consultant post university.  When I was approached to join Newton, I suppose I was in a privileged position from which to assess the merits, since my consultancy role included researching fund managers like Newton and providing investment advice to institutional pension funds.

I was consequently very familiar with Newton and empathised with their global thematic investment approach.  It was an easy decision to join Newton, but a harder one to leave consultancy.  I decided going from 'game-keeper' to 'poacher' would give me a rounded experience of both sides of the fence and I resolved to review how I felt after 5 years.  Over a decade later, I am still here!

Newton has a very collegiate feel and is a stimulating and enjoyable place to work.  We have a saying in the investment team that 'there is no monopoly on ideas', and that sentiment is true across the commercial side of the business too, aided by the flat structure we employ.  Newton rewards good ideas, hard work and excellence with opportunities and responsibility and encourages free thinking towards collective goals.

I have had three different roles in my time at Newton and as Head of Institutional Business Development in the UK, I now have overall responsibility for three areas - consultant relations, consultant-led new business and direct sales.  It is a dynamic role in that no one day is the same as any other.  In general terms, I split my working week between managing my team, interacting with the investment team, meeting consultants, talking to clients and presenting to prospects.

From a personal perspective, I enjoy line-dancing and broad beans (OK.....so I was just checking if you read to the end).

After graduating from Durham with a degree in Mathematics, I joined KPMG to qualify as a Chartered Accountant. Many of my clients were in the Investment Management industry and it seemed an interesting and challenging part of the City to work in. Therefore, on qualification in 2002, I joined Newton's Fixed Income Team as an Investment Grade Credit Analyst. It was the perfect role as it allowed to me to use both my accounting skills, in company analysis, and my mathematical skills to understand how the underlying bond mechanics worked.

Almost immediately on joining I had exposure to senior levels of management at companies and was actively encouraged to make and share my views. This means that there is a steep learning curve, but it is a fantastic challenge. The team based approach across the company means that there is plenty of support and encouragement. When I joined I made extensive use of the global research team, where the in-depth knowledge of the industry specialists enabled me to get up to speed on industries very quickly.

Within the Fixed Income team both the analysts and portfolio managers sit together and this allows a rapid implementation of ideas into portfolios. It is very rewarding to see your ideas add to fund performance.

There is no fixed career path at Newton, and my role has developed considerably in the eight years I've been here. My interest in economics and developing econometric models has meant I've moved towards looking more at global government bonds and currencies. I became an Investment Manager in 2007 and my main roles now are as a Global Bond Manager and the Fixed Income team's representative to the Multi Asset Strategy.

The Multi Asset funds invest across the bond spectrum from very safe AAA government bonds, through investment grade credit and all the way to riskier high yield credit.  The global bond funds invest predominantly in government bonds and take positions through the FX markets.  These two roles mean I get great exposure across the entire bond market and certainly means that every day for me at Newton is exciting, challenging and never the same!

I joined Newton in 1997 as a research analyst straight from university after completing an engineering degree. Throughout the recruitment process I got to meet many senior and junior employees, which gave valuable insight into the work environment. One thing that stands out in my memory is how easy it was to talk to people and how they also appeared to listen to me too! It was not as intimidating as I had expected. Having been at Newton over 10 years I can categorically say that everyone encourages communication, debate and feedback from an early stage and it is hugely important to the way that we invest.

Newton hires career analysts, however, they were very understanding in 2000 when I approached the CIO about moving into portfolio management. It was still very early in my career and the PM role was becoming something my skills were more suited too. I moved to the US equity desk and have been involved there ever since, taking over the management of the US fund at the end of 2002. Newton is very good at rewarding employees with responsibility and is very meritocratic. The flat structure makes for an easygoing workplace but also one where everybody contributes. The Newton investment process is geared towards looking at investments on a global basis, so despite the US being a difficult place for investors over the last 7 years, I am always involved in framing stock ideas from a US perspective.

As a regional PM, I spend my time working with our analysts on US stock ideas, working with the global fund managers on US investment strategy, meeting US companies in London and visiting them in the US, chairing the US investment meeting as well as some client marketing. Apart from the daily morning meeting, there is not really a typical day for me which I think is great! Newton encourages debate, thinking laterally and enthusiasm. Work here is still fresh 10 years on!

I joined Newton ten years ago having studied history at the University of St Andrews and The College of William & Mary in the US.  While I had done some economics and had an interest in investment, I had a lot to catch up on in terms of the way markets and companies worked. Partly I did this through studying for the CFA qualification, but mainly just by being part of the fund management team and being given the opportunity to attend investment meetings, meet company managements and see the way portfolios were constructed against a backdrop varying from the Asian crisis to the dot com bubble. While Newton has its own in house analysts there was also the opportunity to work on some recommendations myself and get an idea of the way the research process worked.

My role now is a global fund manager, running portfolios of equities and bonds for institutional clients. An average day starts with the morning meeting, a run down of event overnight, company results and any new recommendations from the analysts.  After that I'll probably spend some time looking at the portfolios and deciding if market moves or newsflow justifies any changes in position. One of the advantages of Newton is that it is a compact investment team, most of whom are in London, so it's very easy to discuss ideas or concerns with your colleagues. The rest of the day will probably be taken up reading reports, meeting with company managements, or talking with internal or external analysts not just on stocks, but on economic or political trends and events. As a fund manager you also need to present Newton's ideas and explain performance not only to your clients, but prospective ones as well.

Why have I stayed at Newton for so long? A lot of the attraction is the culture of the company. It's not particularly hierarchical and it's a team approach so even as a graduate you'll be encouraged to contribute ideas and it helps that everyone is friendly and supportive. It's also a flexible organisation and there's no rigid career development path; it's up to you to find your interests and the best way to contribute and with Newton looking at investments globally, there's lots of different areas you can focus on. Newton's purpose is getting the best performance for our clients and you're rewarded for that, and while that means working hard you're still able to maintain a good work/life balance.

I left college at the age of 18 with a Business Studies qualification and like so many ex-students wasn't really sure what I wanted to do. From an early age I had held an interest in investment, I followed my dad's bets on various equities and retail investments closely and would help him to research and choose investments. Then came the privatisation era where it seemed so easy to make money so I decided to apply for a job in investment. My options were limited as I lived in Norwich so I wrote to Norwich Union Investment Management (NUIM) and was lucky enough to be accepted as a dividend clerk. I spent almost 12 years at NUIM and held a number of different operational and client service roles. The merger of NU with Commercial Union gave me the push I needed to move (to work, not to live. I still travel in from Norwich each day!) to the big city, London. Having worked for NU for 12 years I felt that it was time to experience a different working environment and through an ex-colleague I was recommended to Newton where I was given the opportunity to head up the transition team. That was in 2000 and I have been here ever since and now head up the Investment Administration area with responsibility for a number of operational activities.

In my opinion Newton is a great place to work. What I quickly noticed when I joined was just how friendly and approachable everyone was, from the most junior administrator to the Investment Managers. Employees are encouraged to share their thoughts and ideas and people actually listen. And you are rewarded for hard work. It's a nice feeling when you look forward to going to work and I can honestly say that I do.

A day in the life of.....

05:00 Get up !
06:10 Train to work:  check diary to see what meetings are planned for the day. Answer emails received overnight. Catch up on some sleep.
08:30 Arrive at the office. Cup of tea and breakfast and prepare for morning meetings.
09:00 Check and authorise custodian cash instructions.
10:00 Managers meeting:  Discuss current work items and issues.
11:30 Meeting with the New Markets/Products team to discuss changes in the Brazilian market and the impact on Newton clients.
12:30 Lunch:  catch up on some reading
13:30 Review aged cash reconciliation report and discuss with senior management.
15:00 Chair Custodian Service Review meeting.
17:30 Train home:  some quiet time to read / reply to emails.

I joined Newton in 2000, after a fascinating 19-year career in the oil industry.  It had not been my intention to leave industry for "The City", but I was approached to interview with Newton, and was intrigued by the job profile and the culture of the company.  Newton seeks to ensure the effectiveness of its research capability by blending industry experience, industry auditing or consulting exposure, and in-house developed analysts.  I attended a series of interviews, and was instantly impressed by enthusiasm and collegiate working environment.  Making the step from a big name oil company into the city was a significant decision for me, but I am pleased to report that I continue to be delighted that I made the move - and each day continues to throw up new challenges.  I appreciated the help I had from my new colleagues as I made the transition. I observe that recently Newton has made great strides forward in developing graduate and personnel development programmes, so that those that make this transition in future will be well supported.

After Graduating with a Civil Engineering degree, my first job was offshore in the North Sea looking after drilling operations.  My oil industry career was unusual in that I was able to work across the industry both domestically and internationally in a variety of roles.  After offshore operations, I became a reservoir engineer, looking after new field design.  I then moved into project management.  I used my MBA as a stepping stone to finance, business planning and commercial roles, ultimately running ARCO's European natural gas supply and marketing business.  Following the acquisition of ARCO by BP, I led the integration project to bring together the two gas marketing and trading businesses for Europe.

A broad perspective of the industry, plus technical knowledge, has many advantages for my daily role as a Global Industry Analyst leading the Oil and Gas sector analysis - especially when dealing with senior industry management.  The oil industry is a truly global game, heavily influenced by political, fiscal, technical, as well as operational factors.  This being a large sector, I have another analyst working with me.  We spend a significant proportion of our time understanding the risk factors, as well as doing fundamental work on oil and gas supply and demand.  Company analysis for us is much more than reviewing financial statements.  We have regular meetings with all our companies, and ensure, where possible we visit company operations and facilities. 
As the oil and gas price outlook are important factors for other sectors, as well as requiring a solid economic underpinning, I work as part of the Strategy Group here at Newton.  We also arrange our physical work areas so that all the commodities, and utilities sit together in a hub, so that we maximise the synergies of our observations.  Our focus is always to understand the long-term competitive situation for the industry.  Some of our long-term Supply and Demand work at Newton has been groundbreaking and has been a driving force behind house investment themes.  There are always frustrations where some shorter-term recommendations do not work, but the emphasis here is to learn when things do not go to plan.  The satisfaction comes from getting more right than wrong, and getting the longer-term picture correct - which leads to consistent performance.