I write feature articles for business and investment publications, specialising in dissecting the trends and looking into the future of:
- public capital markets;
- private capital markets (VC, PE, M&A, crowdfunding, p2p lending, angel investing);
- financial services and fintech.
Article for Business Life Magazine, Sep 2019 (Global business: a view from the Channel Islands).
Guernsey has carved out a clear niche in the insurance industry. Whereas jurisdictions to which it is often compared – Malta, Gibraltar and Luxembourg – tend to focus on their European Union (EU) distribution capabilities (through ‘passporting’ rights that come with EU membership), Guernsey is at the forefront of insurance ‘capital management’. It occupies a space at the intersection of the insurance and investment industries, helping the insurance sector to attract capital and manage it efficiently, and helping capital markets find attractive insurance-related investment opportunities.
PE-Backed IPOs hit a speed wobble
Interested in the wild ride of tech IPOs in 2019?
Check out my article written before Lyft went public about how public and private tech valuations were already on different wavelengths. Something had to give …
Article written forBVCA Journal magazine (British Private Equity and Venture Capital Association), Spring 2019
Read the full article here on the BVCA medium.com page
Special report for The Review magazine (Chartered Institute for Securities and Investment), Q1 2019
In the early 1990s, defined benefit pension schemes were the norm in the UK and invested 80% of their assets into equities. By 2017, that allocation had dropped to 29%. Bonds have been the main destination for cash coming out of equities. A significant market impact might have been expected from this shift. For equities, counter forces have been at work to cushion the blow. But that has not been the case for bonds …
Read the full article here (link is to pdf of magazine, article on page 29)
Article for Private Equity Wire, June 2019
More businesses are formalising their ESG credentials by becoming certified ‘B Corporations’. And it’s not just a trendy badge or politically correct aspiration.
But are they compatible with private equity?
Read the full article here on the Private Equity Wire website.
Article for Business Life Magazine, May 2019 (Global business: a view from the Channel Islands).
Cryptocurrencies started as payments systems, Then became niche financial assets. Now, especially for the Channel Islands, their underlying technology is driving efficiencies in finance.
Cover story & special report for The Review magazine (Chartered Institute for Securities and Investment), Q3 2018
Algorithmic trading has reduced costs and made investment decisions more sophisticated. But repeated flash crashes highlight the dangers. Markets and regulators haven’t found the balance yet …
Read the full article here (link is to pdf of magazine, article on page 31).
Article for Wealthsmiths magazine (Sanlam), Winter 2018 edition
Greece has officially ‘exited’ its bailout programme. It’s a significant milestone on the road to economic recovery. But it’s also a long way from economic normality, and there are still credible doubters …
Read the full article here. Link is to pdf of magazine, article on page 13.
Article for Business Life Magazine, March 2019 (Global business: a view from the Channel Islands).
We’ve all been through the pain of collating documents to open a bank account – copies of passports, utility bills, payslips and so on. So, imagine how much more complicated the process will be for offshore clients of Channel Islands private banks or investment funds. These are often high or ultra-high-net-worth individuals, or institutions, with complicated affairs structured through trusts or corporations. And imagine their frustration when they have to go through the same process all over again when they make their next investment, with a different bank or fund …
Article & infographic for Quintessence magazine (BNP Paribas), issue 1, 2019.
China is the second largest economy in the world. It is also home to the second largest equity market. According to figures from BNP Paribas, it is valued at USD 14tn (about 45% of the size of the US market), and is the second largest domestic bond market, valued at USD 12tn (about 33% of the size of the US market). But foreign investors have only scratched the surface. Bloomberg data reveals that they only own around 2% of the bond market, and closer to 1% of the equity market according to a white paper published by EFG Asset Management. This is set to change …
Read the full article in Quintessence magazine here (link is to pdf, article on page 42).
Article for The Review (Chartered Institute for Securities and Investment), 29 Oct 2018
Read the full article here on the CISI website
Article for BVCA Journal magazine (British Private Equity and Venture Capital Association), Winter 2018
There’s an energy in the Welsh start-up scene at the moment, and a feeling that a new generation of tech, and in particular fintech, businesses have a real shot at giving the Welsh economy it’s next foot-up. Not only are there increasing numbers of home-grown start-ups, but the region is attracting start-ups from out-of-town …
Only available in print edition. Request a copy here
Article for The Review magazine (Chartered Institute for Securities and Investment), Q3 2018 edition.
Personal data has fuelled the growth of some of today’s leading companies. Risks and ethical dilemmas are increasing, threatening to derail this trend …
Read the full article here. (link is to pdf of magazine, article on page 17)
Article for The Review magazine (Chartered Institute for Securities and Investment), Q4 2018 edition.
Banks are further along their digital journey than wealth managers, but they are struggling to generate returns on their digital investments. Wealth managers’ more cautious approach might be paying off.
Written for The Review (Chartered Institute for Securities and Investment). Read the full article here on the CISI website.
Written for quantitative investment manager, CFM, 6 Jul 2018.
Article for The Review magazine (Chartered Institute for Securities and Investment), Q2 2018 edition.
Growth in P2P lending shows no sign of slowing. The innovative finance ISA might provide a further boost. What are the pros and cons for an investment portfolio? …
Written for Dolfin Diary (a look at the people, technologies and ideas shaping the investment landscape – by custody, brokerage and asset management firm, Dolfin), 19 Jun 2018.
Article for Hiscox Informed – small business knowledge centre, 14 June 2018
Smart speakers, like the Amazon Echo – the hardware that is home to the now famous digital voice assistant, Alexa – have become a common feature in many homes around the world. In the small business market, Alexa isn’t very busy yet. But that might change …
Article for Hiscox Informed – small business knowledge centre,12 Jun 2018.
Management consulting hasn’t escaped threats of ‘disruption’ from artificial intelligence (AI). The Economist recently produced a special report entitled: ‘AI providers will increasingly compete with management consultancies’. Even the Harvard Business Review has run an article with the headline: ‘AI may soon replace even the most elite consultants.’ Those headlines mask a more complex reality …
Article for Dialogue magazine (Schroders & Cazenove), Spring 2018 edition.
Millennials are set for an inheritance windfall, but it could arrive too late to get them on the housing ladder. Financial advisers have a key role to play guiding older and younger generations on this issue …
Read the full article here. (link is to pdf of magazine, article on page 13)
Article for The Review magazine (Chartered Institute for Securities and Investment), Q1 2018 edition.
Open banking presents new opportunities for the financial services sector beyond retail banking, but customers could be slow on the uptake …
Read the full article here. (link is to pdf of magazine, article on page 17).
Article for The Review magazine (Chartered Institute for Securities and Investment), Q4 2017 edition.
Using artificial intelligence for investment decisions is no longer the exclusive domain of ‘quant’ funds. Asset managers and financial advisers are also adopting the technology. But does it really introduce a new level of sophistication? And will it become mainstream? …
Read the full article here. (link is to pdf of magazine, article on page 25).
Article for IFA Magazine, July/August 2017 edition.
Peculiarly, IFAs and financial planners, seen by some as the archetypal middlemen, are facing pressures to get more involved. Clients see attractive returns and credible incentives such as the Innovative Finance ISA. Platforms are starting to see advisers and planners as an important channel when sourcing loan capital …
Canbry Research blog, 27 Sep 2016
UK households hold over £800bn in ultra-low interest savings products. Many savers and the FCA are dissatisfied with the savings market. Robo-investors, the tech and marketing savvy FinTech disruptors, are aggressively trying to capture these customers. Savers’ reluctance to switch from banks will be a challenge. The economics of Robo-investors also looks questionable unless they can achieve very large scale. However, strong progress is likely to make them acquisition targets for larger financial services incumbents. What if the opportunity for investors and consolidators?
Canbry Research blog, 20 Sep 2016
UK lawyers may see a ‘Brexit Bonanza’ surge in demand as clients seek advice on changes to legal and regulatory environments. At the same time, law firms have started forming ‘Alternative Business Structures’ and take on outside investors…