In August, Chris Wagstaff joined Threadneedle Investments as head of institutional marketing. He joined from Cass Business School Executive Education where he was a client director responsible for the development of pension and investment programmes.
What did you want to be when you grew up?
From an early age I enjoyed tinkering with mechanical things – and still do – so thought I might end up being a mechanic or an engineer. I guess I still get my hands dirty when addressing key investment and pensions issues head on.
What was your favourite subject at school and why?
I had the most amazing and inspirational Maths and English teachers, Mr Williams and Mrs Jackson, whose teaching style and high standards have served me well throughout my adult life.
What was your first paid role?
In 1982 I went straight from school to work in the City as a bank clerk at NatWest. For the first four weeks I printed cheque books!
What led you to a career in investment?
When I started studying for my banking exams in 1983, economics and investment were the two subjects that really struck a chord with me. At 21, concluding there was no future in branch banking, I went to university to study economics, after which I tried my hand at various financial roles before moving into asset management in 1993.
What are your priorities for this new role?
To further raise the presence and profile of Threadneedle in the institutional space in the UK and beyond, principally through a range of thought leadership and educational initiatives.
What is the biggest hurdle for institutional investors at present?
Generating decent investment outcomes against the backdrop of sub-par economic growth, ultra-low yields and mounting geo-political concerns.
What one piece of investment legislation/regulation would you change?
Without a doubt the proposed IORP Directive, the Solvency II-based funding regime for workplace pensions. By effectively forcing pension schemes to invest in low risk assets, it will prove to be the death knell for DB.
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