Head of Wholesale

Overview

Accountable for the management of the wholesale market segment which includes the ownership and management of existing strategic relationships and partnerships with the wholesale market segment inclusive – but not limited to Discretionary Fund Managers, Multi-Managers, Wealth Managers, Family Offices and Platforms. The role includes driving the strategy for this market segment as well as ensuring appropriate resourcing, capacity and skills.

Key Responsibilities

Strategic Direction

• Develop and execute a business development strategy for the wholesale market segment aligned to M&G’s overall business strategy of building a resilient domestic business while capitalising on global growth opportunities.
• Ensure a focus on the retention of existing clients and identifying and pursuing new wholesale clients and business opportunities.
• Undertake market research, competitor analysis and research into regulatory impacts to ensure M&G identifies and stays abreast of market trends in support of our overall business strategy and to identify new business opportunities.
• Ensure formalized collaboration and information sharing with other client facing distribution teams and stakeholders such as Marketing and Product to ensure focus and alignment in driving the implementation of M&Gs business strategy and financial goals.
• Fulfil a proactive role in the identification, formulation and implementation of strategic initiatives supportive of our goal to position the SA Distribution teams as the gateway to our local and global offerings.
• Where required, lead and / or provide client input into various strategic projects and work streams and ensure collaboration and coordination with other stakeholders.
• Facilitate and assist in the development of a value‑add servicing proposition for the wholesale market segment; to be used by the Client Directors / BDMs thus ensuring consistent messaging and offering across client segments.
• Influence and facilitate the growth of our international offering by ensuring that we have the right products and solutions to offer our wholesale clients.
• Build strong relationships with our colleagues in the UK to facilitate and ensure a frictionless process in the selling and servicing of our international offering.
• Be accountable for the wholesale business planning cycle providing input into M&G’s overall budgeting and planning process.
• Ensure Exco management and board reporting is completed timeously.

Business Development and Client Management

• Ensure M&G builds meaningful long‑term strategic partnerships with wholesale clients by ensuring strong value adding client experiences underpinned by an ethos of knowledge‑based client relationships, process driven protocols, high quality excellence in service levels, strong market visibility, robust client activity and the diligent use of our Sugar CRM system. The M&G wholesale business development team is to be regarded as top tier within industry in terms of knowledge, excellence in client servicing and value add.
• Ensure all Wholesale Clients are allocated a Client Director / BDM which is captured in the Sugar CRM system and are serviced appropriately.
• Actively employ multi‑level relationship management approach with key strategic clients. This requires active intervention and interaction at a Senior Management / FO level. The Client Director/BDM remains the key relationship manager and maintains overall accountability for the client. The Client Director/BDM to ensure that such key strategic meeting with CEO’s, CIO’s and Business Owners are scheduled at a minimum on an annual basis.
• Formal business update meetings with all clients at a minimum half yearly. Formal business update meetings with key strategic clients to be held quarterly.
• Ensure Client Directors/BDMs undertake client analysis and strategy development - actively assessing new business opportunities and threats and identifying opportunities where M&G can add value to the client’s business through our product/solutions/service offerings.
• Ensure the wholesale team is driving and executing on our business objectives with the correct focus and mix between servicing and growth.
• Active ongoing management of both the Pipeline and Business at Risk (BAR) reports to ensure the reports contain accurate and up‑to‑date data and insights.
• Ensure all client presentations are delivered with a clear understanding of the clients’ requirements and expectations. This includes fully briefing the presenter/s upfront in terms of who the client is and what their requirements are. Undertake post presentation debrief to assess appropriateness of delivery of message and client feedback and concerns.
• Provide technical product support, investment insights and knowledge to Primary Consultants and act as a “proxy fund manager” in doing presentations / report backs etc. where required.
• Effective management of the wholesale distribution team to ensure service excellence and the achievement of sales targets.

Products & Support Services

• Actively influence, facilitate and collaborate with various stakeholders such as – legal, marketing, operational, product, front office etc. – both in SA and Globally – to ensure functioning and efficient support services – as these are crucial to the Team’s ability to deliver on their KPIs and ensure we have a well‑executed client journey providing our clients with seamless access to M&G’s local and global investment expertise.
• Conduct a thorough analysis of market trends, competitive landscape and emerging opportunities to ensure we have a competitive capability offering for the wholesale market in both local and global multi asset and building block solutions ensuring appropriate pricing structures.
• Work alongside the Product team to ensure our pricing is competitive and relevant with an understanding of market pricing dynamics.
• Ensure consistency of pricing across clients, products and capabilities, to reduce the risk of anti‑selection by clients and with due consideration of TCF principles.
• Ensure all new Strategic Partnership fee arrangements are aligned with M&Gs pricing principles in terms of TCF and the protection / enhancement of revenue and margin and growth of AUM.
• Provide input, support and collaboration to the Global Investment Director to ensure:
• our Global offering is accessible to clients via the right channels and a frictionless process is in place for solutions.
• the client take‑one process into M&G offshore funds (Ireland, Lux or UK) is clearly defined and can be easily shared with clients. Actively manage and influence the refinement of the process where necessary to ensure it is working efficiently and seamlessly.
• Facilitate the development of tactical responses to segment focus areas and themes in collaboration with other stake holders such as Front Office and Marketing in support of our business strategy and to ensure M&G remains top‑of‑mind.
• Collaborate with Marketing by being an active participant in terms of influencing appropriate marketing message and identification of key marketing themes.
• Provide guidance and input into focused marketing efforts to build visibility of our global M&G brand.
• Accountable for the ownership of all M&G and Partner events in the wholesale market in collaboration with Marketing. Work in partnership with the Marketing team, to ensure that M&GSA’s brand receives appropriate prevalence in line with the targeted client segments.
• Represent M&G at industry events, conferences, and other forums to promote M&G brand awareness and expand the network of wholesale contacts.
• Define client data required to ensure we obtain efficient and effective management information inclusive of management reporting dashboards for the Wholesale market segment.
• Ensure all client data is correct and up to date in Sugar CRM system
• Provide feedback into the RFP / DDQ process to ensure correct information and alignment with Wholesale Client requirements.
• Collaborate with RFP / DDQ Team to identify and drive M&Gs representation on key consultant databases – both locally and offshore.
• Legal: ensure all clients agreements are up‑to‑date and relevant, and that client contractual terms and conditions are being monitored and met.
• Ensure appropriate governances are in place across all areas of responsibility.

People Management

• Set the tone on culture in the wholesale distribution team, ensuring a high‑performance culture where we treat each with professional integrity consistently displaying high ethical standards such as honesty, dependability, confidentiality and trustworthiness.
• Manage the wholesale team in a manner that ensures individuals can deliver to their highest potential, in a collegiate and constructive environment. This includes ensuring staff have access to the appropriate tools and support services.
• Ensure ongoing development of staff in collaboration with the Head of Distribution and Human Capital team to ensure appropriate skills give the targeted market segments and changing environment.
• Structure the team so that they work optimally across the Wholesale investor base.
• Assess and ensure team appropriately resourced, ensuring business transformation objectives are executed where appropriate.
• Continued mentorship and development of team members including succession planning for key roles.
• Develop Performance Contracts for all staff including KPIs and career pathing visibility.
• Be a positive contributor to the wholesale business development team and the wider M&G Distribution team.
• Facilitate collaboration and integration across the wider M&G distribution teams in terms of client servicing standards and the implementation of our go‑to‑market business strategy.
• Be a positive contributor to Client Forum.
• Keep management informed on key strategic and tactical issues pertaining to the wholesale market that may impact on our business targets and goals.

Attributes, Qualifications, Skills & Experience

• Relevant tertiary qualification in Finance, Investments, Commerce, Economics or a related field.
• Postgraduate qualification would be advantageous.
• CFA, CAIA, CFP or other relevant investment industry qualification will be beneficial.
• Minimum 10-15 years' experience within the asset management, investment management or financial services industry.
• Extensive experience managing and growing relationships within the wholesale market segment, including Discretionary Fund Managers, Multi‑Managers, Wealth Managers, Family Offices and investment platforms.
• Proven track record in business development, strategic relationship management and sales leadership.
• Experience leading and developing high‑performing client‑facing teams.
• Sound understanding of local and global investment products, markets, competitors and industry trends.

Competencies & Personal Attributes

• Strong commercial and strategic thinking capability.
• Exceptional relationship management and stakeholder engagement skills.
• Leadership and people management capability, including coaching and talent development.
• Strong presentation, communication and influencing skills.
• High levels of business acumen and negotiation capability.
• Ability to analyse market opportunities and translate insights into business growth initiatives.
• Strong understanding of regulatory requirements and governance considerations relevant to the investment management industry.
• Ability to collaborate effectively across multiple business functions and senior stakeholder groups.

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