Director of Portfolio Management- Europe United Kingdom
Fidelity International
Full Time
United Kingdom
10.56 - 12.04 GBP Today
Job description
About the Opportunity
Job Type: Permanent
Application Deadline: 29 September 2023
Job Title: Director of Portfolio Management, Europe
Location: Cannon Street
Reporting Line: Head of Equities, Europe
Level: 9
Introduction
We’re proud to have been helping our clients build better financial futures for over 50 years. How have we achieved this? By working together - and supporting each other - all over the world. So, join our Equities Investment Management team and feel like you’re part of something bigger.
About your team
At the centre of Fidelity’s success is our approach to managing money, which the philosophy unchanged since we were founded. Our approach places first-hand, detailed research at the core of our decision making, ensuring that every security – whether equity or bond – is investigated in detail before being included in our funds. We subsequently build our funds from the bottom up, stock by stock, taking account of market trends but not being driven by them.
Fidelity International has investment management activities based out of London, Milan, Paris, Frankfurt, Tokyo, Hong Kong, Mumbai, Singapore, Sydney, Shanghai and Toronto. A presence across key ‘investment centres’ ensures that we truly penetrate the business, economic, political and social landscapes in each region we operate. This local fluency, born primarily out of local staffing, is fused with a global investment philosophy and communications systems.
With close to 50 years’ experience managing equity portfolios, we offer institutional clients a broad range of investment solutions across the risk/return spectrum. Our distinctive active strategies extend across geographies, sectors, investment objectives (capital growth vs. income), risk spectrum, investment styles and market cap. They include long-only as well as long/short strategies.
The equity investment department has responsibility for all retail and institutional funds managed by FIL. This responsibility includes managing equity portfolios in accordance with the stated investment objectives contained in the fund’s prospectus, trust document or Investment Management Agreement (IMA).
Fidelity International has investment management activities based out of London, Milan, Paris, Frankfurt, Tokyo, Hong Kong, Mumbai, Singapore, Sydney, Shanghai and Toronto. A presence across key ‘investment centres’ ensures that we truly penetrate the business, economic, political and social landscapes in each region we operate. This local fluency, born primarily out of local staffing, is fused with a global investment philosophy and communications systems.
With close to 50 years’ experience managing equity portfolios, we offer institutional clients a broad range of investment solutions across the risk/return spectrum. Our distinctive active strategies extend across geographies, sectors, investment objectives (capital growth vs. income), risk spectrum, investment styles and market cap. They include long-only as well as long/short strategies.
The equity investment department has responsibility for all retail and institutional funds managed by FIL. This responsibility includes managing equity portfolios in accordance with the stated investment objectives contained in the fund’s prospectus, trust document or Investment Management Agreement (IMA).
About your role
This Director of Portfolio Managers role has a range of responsibilities but is primarily focused on ensuring the success of the UK and European based Equity Portfolio Management function.
This Director of Portfolio Managers role has a range of responsibilities but is primarily focused on ensuring the success of the UK and European based Equity Portfolio Management function.
The position will work in close partnership with the Director of Portfolio Managers Asia Pacific and the Head of Equities- UK, Global Income, GEMS and Derivatives, sharing in the management responsibility for the global Equity Portfolio Management team and ensuring global strategic connectivity across the different regions.
The individual will serve as a contributing member of the Global Equity leadership team working with the other Heads of business areas, Directors of Research, Traders and the Portfolio Construction and Risk teams.
This role will take responsibility to deliver outcomes that meet the existing and future needs of our clients. This will require both cultural and commercial change as well as ensuring the delivery of investment performance.
The successful applicant will be required to ensure that sustainability is embedded within the Equity investment process.
The individual will also manage the training function under Portfolio Management Academy and support ongoing training needs.
Key Responsibilities
- Direct oversight, leadership and line management of approximately 20 UK and European Portfolio Managers based in London and Europe offices.
- Play a coaching role to PMs to ensure portfolio managers are managing client assets in a process driven, philosophically sound manner that is aligned client needs and expectations.
- Provide guidance and advice on how to handle the pressures of periods of both strong and weak performance.
- Drive best-in-class investment performance, business growth and a sustained increase in AUM and net revenue in the UK and European based Equity investment team by providing market context, challenging the team on investment theses, ensuring quality, quantity and timeliness of research product with a focus on innovation and continuous improvement. This include embrace and advocacy of the firm’s current and future Sustainable Investing initiatives.
- Help oversee the quarterly fund reviews and investment risk process, interacting in discussions across risk regime changes, control, transitions, position taking, performance aspects and macro outlook.
- Be responsible for all day to day issues related to the running of the funds e.g. oversight and development of portfolio managers, manager breaches, trading issues, country authorisations etc., and ensuring that the portfolio managers are fully compliant with the regulatory requirements, with training and competency criterion met in full.
- Work closely with internal teams such as product and distribution to ensure franchises are represented correctly, and work closely with investment directors to support, build & grow franchises.
- Ensuring adequate tenure and appropriate succession planning, aiming to stem risk faced by clients.
- Serve as a contributing, productive member of the Global Equity leadership team
- Act as an executive role model within the organisation, providing thought leadership and strategic direction in the region and internationally.
- Ensure that Sustainability is integrated into the Equity investment process in a way that reflects the varied and changing needs of our clients.
- Demonstrate insight and vision into the evolution of FIL’s range of Equity capabilities through partnership with with the Distribution and Product teams to support strategic client development.
- Represent Fidelity to external bodies (journalists, clients, regulators, consultants, government, trade associations) across investment management issues, markets, regulations etc. where and when required.
- Provide executive level briefings, communications, status and updates on operational goals, projects, plans and initiatives to the Global CIO, Asset Management.
- Support, adhere and role model the provisions of Fidelity’s code of ethics and to the applicable FCA rules. Be cognizant of regulatory obligations and requirements in the jurisdictions where we carry out research and fund management activity globally.
- Be aware of and take responsibility for all regulatory, audit and risk issues relevant to investment management activities (e.g. Anti-Money Laundering and Training and Competence requirements).
- Ensure adherence to FSA rules, specifically the Principles for Approval Persons, FSA COB Chp 7 dealing & managing and the Market Abuse Regime, as well as SMCR.
About You
- Experience in the asset management business, working in a sophisticated, performance-driven, team-orientated environment.
- Proven ability to build and develop strong, high-performing, diverse teams and create a collaborative environment that assures excellence through dynamic, engaging and inclusive investment leadership.
- Personal investment track record in Equity markets is preferred to allow the individual the ability to manage others and to challenge portfolio managers on their performance: practical exposure to portfolio construction and risk management needed.
- Demonstrable understanding for sustainability and ESG and how to integrate ESG into investment processes.
- Experience working as a portfolio manager is highly desirable.
- A comprehensive understanding of stock market actions and valuations and, ideally, previous experience of picking and valuing equities. Understanding of fixed income and multi asset ideal.
- With strong emotional intelligence and a value set that matches that of Fidelity, this individual will be a sound judge of character, in making asset allocation decisions that minimise both performance risk and behavioural risk.
- Ideally business development experience to grow and influence a business, over time winning the trust of the fund management community locally and with the Fidelity network more broadly.
- Strong project management and execution skills with a focus on delivery and results. Proven experience of identifying and implementing process improvements.
- Client orientation, with the ability and commitment to treat all clients equally
- Strong connectivity and credibility with Fidelity leadership
- Ability to build and maintain strong and effective relationships with the team, peers and with other departments on a local and global scale.
- Must engender respect and trust from colleagues and encourage a strong team ethic whilst demonstrating the energy, empathy, resilience and focus to lead an organisation through change.
- Skilled at addressing, navigating and resolving difficult situations in a decisive but diplomatic and tactful manner.
- Demonstrable track record of analytical rigour, including evidence of thinking through the realities and challenges of growth, and acting decisively to grow the business.
Feel Rewarded
For starters, we’ll offer you a comprehensive benefits package. We’ll value your wellbeing and support your development. And we’ll be as flexible as we can about where and when you work – finding a balance that works for all of us. It’s all part of our commitment to making you feel motivated by the work you do and happy to be part of our team. For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.
For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.
