Leaders Lounge Podcast | Episode 4 | January 15, 2021

Punching above your Weight—Part 2

Mark Makepeace, the new CEO of Wilshire, talks about what it takes to step into the leadership of a company with an established culture and legacy. It’s one thing to lead a start-up like FTSE Russell, which he founded in the 1990s, and another to lead an established company like Wilshire. “It’s about listening to the talent.”

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.

Larry Black, the managing partner at BlackMoss, continues our Leaders Lounge conversation with Mark Makepeace, who led the index provider FTSE Russell from its founding in the 1990s until 2019. He has now re-emerged as chief executive of Wilshire, the Los Angeles-based consulting firm and asset manager, and home of the Wilshire 5000 index. They talk about the future of investment management and Mark’s approach to his new role.

Topics we discussed:

Why Wilshire? Where does Wilshire sit strategically within financial services?
How do leaders go about getting teams on board for change?
What role will technology play in the evolution of financial services?
Are index providers emerging as virtual investment managers?
Does the investment industry face a threat from the big technology companies like Google, Amazon and Microsoft?

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

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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.