IR Masterclass - November 2019

On Wednesday the IR Society hosted its bi-annual IR Masterclass. The half day event featured guests from across the industry speaking on a range of topics, including the macro-economic outlook, how to deal with passive investors, and cyber defence. In our panel session three IROs discussed what they perceive to be the major trends and challenges in their roles today and over the coming year.

After a warm welcome and opening remarks from our event moderator Richard Davies (RD:IR), the morning started with Clemente De Lucia, senior economist at Deutsche Bank, outlining macro-economic trends and why the green shoots of recovery in Europe next year may be restricted by ongoing high levels of uncertainty, primarily driven by Brexit and international trade wars, and a limited appetite for fiscal stimulus.

Our panel of IROs tackled a range of issues, including the impact of MiFID II on the quality of sell-side research, consensus forecasts and roadshows. Different approaches to ESG were discussed, with all in agreement that this will be an increasingly important issue over the coming year. It was felt that the US is not yet as well advanced in this area as the UK and Europe.   

The first of our two speakers in the session on how to deal with passive investors, Iancu Daramus, provided valuable insights into how L&G Investment Management scores all companies on ESG, how this influences their vote at AGMs and is used to put pressure on companies to act. Roy Zimmerhansl from Pierpoint Financial Consulting then discussed the rationale for stock lending by institutional funds and how active shareholder engagement can successfully co-exist with a lending programme.

In the final session, Paul Harragon from Ernst & Young joined Richard for an eye-opening interview-style discussion around the cyber security threats facing companies and the different approaches that can be taken to reduce this risk.

Many thanks to Richard Davies, managing director - RD:IR, and guest speakers:

  • Clemente De Lucia – Deutsche Bank
  • Simon McGough – Babcock International
  • Jo Britten – Moneysupermarket Group
  • Phil Corbett – GasLog
  • Iancu Daramus – L&G Investment Management
  • Roy Zimmerhansl – Pierpoint Financial Consulting
  • Paul Harragan – Ernst & Young

Thanks also to Orient Capital, our events programme sponsor, and Maitland/amo for hosting us.  

Published 28 November, 2019

Thanks to everyone who came down and joined us at the Tower of London last night for our 2019 Best Practice Awards… twitter.com/i/web/status/1…