Leaders Lounge Podcast | Episode 3 | January 15, 2021

Punching above your Weight—Part 1

Mark Makepeace, the founder of index provider FTSE Russell and now the CEO of Wilshire, talks about what it takes to lead—from a start-up of nine people to a global information services provider with $16 trillion in assets benchmarked to its indexes. “It’s about bringing people along on a journey.”

Summary

Behind our industry’s current focus on technology-enabled investing is the story of the rise of stock market indexes from their original role as economic indicators to their place at the heart sophisticated passive investment vehicles that now account for 40% of the market. Having shown that technology is better at stock picking than humans, index providers are well on their way to becoming virtual investment managers.

For this episode of the Leaders Lounge, host Craig Welch hands over the microphone to Larry Black, the managing partner at BlackMoss, for a two-part conversation with Mark Makepeace, the founder of global index provider FTSE Russell. Larry worked for Mark as FTSE's CMO for the better part of a decade, as it came of age in North America and grew to become, by some measures, the world’s largest index provider.

Topics we discussed:

How central indexes and passive investing have become to investing and the global economy
How FTSE grew beyond the UK into a global index provider, securing key prizes in the US and China and rivalling incumbents like MSCI, S&P Dow Jones and Bloomberg
How his leadership style has been shaped by his personal journey—from Big Bang-era London, to running a global company, to reviving Wilshire
Revelations from Mark's new book “FTSE: The inside story of the deals, dramas and politics that revolutionized financial markets”—including the role played by Roger Moore of James Bond fame in the creation of FTSE4Good and ESG investing
The future of London as a global financial center post Brexit

FTSE: The inside story of the deals, dramas and politics that revolutionized financial markets

by Mark Makepeace and James Ashton

A RINGSIDE SEAT ON SOME OF THE BIGGEST DEALS AND BIGGEST PERSONALITIES IN BUSINESS AND GLOBAL POLITICS.

They are just four letters on an electronic ticker tape, but FTSE has become a byword for money, power, influence and—crucially, after numerous financial crises—trust.

How this organisation, FTSE International, brought order to the financial system over several decades, is a story of how capitalism globalized and a data revolution transformed the investment industry. It is a story of how a team of innovators seized an opportunity to build a business that today leads its field and guides the fortunes of an astonishing $16 trillion of funds. It is a story that Mark Makepeace, founding Chief Executive of FTSE International, knows better than anybody.

FTSE is a ringside seat on some of the biggest deals and biggest personalities in business and global politics, chronicling how the FTSE 100 was born, behind-the-scenes rows with chief executives of some of the world’s largest companies, political in-fighting, diplomatic incidents, and the ferocious dealmaking that followed over 35 years of market boom and bust.

‘An inspiring success story.’ Baroness Rona Fairhead, CBE
‘FTSE is a story which should inform and fascinate anyone interested in capital markets.’ Sir Donald Brydon, CBE

How to Listen

*Spotify unavailable until it addresses misinformation

About Our Guest

Mark Makepeace offers a unique perspective on the financial services industry. During a 35-year career he was founding Chief Executive of FTSE International and turned a small UK start-up into one of the largest and most successful global index providers—and one of Britain's most famous brands. In 1985, he arrived in the City at the London Stock Exchange as a clerk to co-ordinate Big Bang—and never left. He recently stepped down as Chief Executive of FTSE Russell and from his role as Executive Director responsible for the LSE's information services division. He is now the CEO of Wilshire.

About The Leaders Lounge

Our guest host, Larry Black is a leader in helping financial firms modernize their client engagement platforms. After a trans-Atlantic career in financial journalism, he pioneered content marketing at Credit Suisse, launched AllianceBernstein's award-winning blog, and championed digital marketing at London Stock Exchange Group, where he ran marketing globally for FTSE Russell.

Our host, Craig Welch has always been drawn to great leaders, especially those who help others see and believe in a vision, and lead innovation in a company. During Craig’s +20-year career in financial services he has had the opportunities to work directly with leaders of some of the industry’s top global brands such as American Express, Deutsche Bank, JP Morgan Chase and Bloomberg. Craig’s educational background in psychology and marketing combined with his career experiences as a “brand evangelist” bring a unique perspective as host of The Leaders’ Lounge podcast.

The Leaders’ Lounge is a new podcast series from BlackMoss Partners. We share the voice of Industry leaders—thoughts about overcoming challenges and realizing success in times of change and uncertainty. The programme explores how today’s most transformational business leaders see the future, and how they are driving change to achieve that vision.