TSG TIME with Pat and Doug
The TSG Time podcast is a monthly podcast that tackles all things performance measurement, in 30 minutes or less.
Co-hosted by Patrick W. Fowler and Douglas Spaulding of TSG.
Pat and Doug sit down with legends of performance measurement on this monthly podcast.
In Episode 23, Pat and Doug sit down with Chi Tu. Chi is a senior manager at UC Investments, responsible for performance and reporting, and he has over 20 years of experience in the industry. UC Investments recently became GIPS® compliant, and Chi discusses the verification process and provides advice to firms that are considering compliance with GIPS. He talks about his most influential mentors, the challenges he foresees in the industry, and how the field of performance has evolved since the start of his career. “It went from quarterly, monthly, and now to daily, and I think that is huge. Before it was just quarterly reporting, then monthly, and now it’s daily, and the future is, of course, real-time.” In the lightning round, Chi tells us about his favorite pastimes and hobbies, and gives us a snapshot of an ordinary moment that brings him great joy.
Connect with Chi on LinkedIn, https://www.linkedin.com/in/chi-t-315aa75/.
GIPS® is a registered trademark of the CFA Institute.
Next Month:
Episode 24 – 1/15/25
Stay tuned for details on our next guest.
Previous Episodes
Debi Rossi joins Pat and Doug for Episode 22 of TSG Time. Debi is President of Kyza Performance Consulting, LLC, and she has over 25 years of experience in the performance measurement industry. Debi tells us about what inspired her to start her own business and discusses the biggest challenge she faced when she became an external consultant after working for an investment manager. At this year’s PMAR Conference, Debi and Christine Iannacone of Prudential gave a presentation on “Essential Skillsets of the Performance Professional,” and Debi shares some of the key points and takeaways from the discussion. “The next part is being able to communicate and convey those numbers into a story so that people can understand what they mean.” She talks about some of the most challenging steps firms face on their way to compliance and provides advice to firms that are considering compliance with the GIPS standards.
Connect with Debi on LinkedIn, https://www.
Matt Swan sits down with Pat and Doug for Episode 21 of TSG Time. Matt is Senior Director of Performance Measurement and Analytics at the Investment Management Corporation of Canada (IMCO), and he serves as 1st Vice-Chair of the Canadian Investment Performance Council (CIPC). He talks about his journey at IMCO and the process of building and leading a strong performance team. “Institutional investors are hungry for analytics to support their investment decision-making process, and building a team that’s constantly enhancing the offering and always improving the stakeholder experience is the key to our success.” He discusses his involvement with the CIPC and shares some of the group’s current initiatives, including artificial intelligence applications for investment performance analysis. He also shares his performance measurement origin story and provides advice to those starting their career in the field of performance. In the lightning round, Matt tells us who he’d cast in a movie based on his life.
Connect with Matt on LinkedIn, https://www.linkedin.com/in/matt-swan-cfa-937273/.
John Longo joins us for Episode 20 of TSG Time. Dr. Longo is a Distinguished Professor of Finance & Economics at Rutgers Business School and Chief Investment Officer and Portfolio Manager at Beacon Trust. John co-authored Buffett’s Tips: A Guide to Financial Literacy, and he discusses how he came up with the idea for the book, the writing process, and the experience of writing a book with his son, Tyler. John talks about the trips he’s gone on with Rutgers students to meet Warren Buffett in Omaha, Nebraska. “For many years, Buffett met with students on a Friday afternoon, roughly around ten or twelve times a year, and we got to go for free. There was Q&A for a couple of hours, he took us out for lunch, and we got a tour of his businesses in the area.” In the lightning round, John tells us about the historical event he’d like to witness, and talks about the two people who have had the most profound impact on his life.
Connect with John on LinkedIn, https://www.linkedin.com/in/
Nicholas Mirlocca joins us for Episode 19 of TSG Time. Nick is the Senior Product Manager for GIPS® at FactSet. He discusses FactSet’s GIPS solution, the hurdles firms face on their way to compliance, and the impact outsourcing will have on GIPS professionals. “That additional level of validation needs to happen. If you’re relying on a third party to send you your performance after they’ve done the operations and closed the books, you can’t just lean on that. The performance team and the validation process are still key.” He also talks about the latest trends in performance and provides advice to firms that are interested in becoming compliant. In the lightning round, Nick shares the top three items on his bucket list and the three items he’d bring to a deserted island.
Connect with Nick on LinkedIn, https://www.linkedin.com/in/
Theo Bell joins Pat and Doug for Episode 17 of TSG Time. Theo is Head of AI Product at Rimes Technologies where she leads the company’s efforts to leverage AI technology in order to provide cutting-edge data management solutions to clients. Theo talks about the challenges facing the asset management industry and the ways that AI can help with productivity, personalization, and private market data. “From the productivity side, I think there’s a lot in terms of sales and marketing, so you can generate content like white papers, summarize content for social media, and analyze public data about your clients.” She discusses the impact of AI in the asset management industry, strategies for the adoption of AI, and the Rimes AI lab. “It’s my sandbox where I can experiment and deliver things to clients without worrying about disrupting our massive daily production pipeline.” In the lightning round, she tells us about the person she admires most, the book she recommends everyone read, and the first album she ever bought.
Connect with Theo on LinkedIn, https://www.linkedin.com/in/
John D. Simpson sits down with Pat and Doug for Episode 16 of TSG Time. John has been in the performance industry since 1985, and he currently heads up TSG’s Global Investment Performance Standards (GIPS®) practice. He is also TSG’s Chief Verification Officer (CVO) and discusses how this unique role sets TSG apart. John talks about his favorite PMAR memory, Performance Jeopardy, the importance of the CIPM designation, and what he likes most about his career in performance measurement. “Our industry is rapidly evolving, so there’s always something new to learn. And again, I come back to the people as well; lots of great people in the space that are fun to work with.” In the lightning round, he gives a synopsis of one of his favorite films, “My Life as a Dog.”
Connect with John on LinkedIn, https://www.linkedin.com/in/johndsimpson/.
For more information on the PMAR Conference, visit https://tsgperformance.com/events/pmar/.
In Episode 15, Pat and Doug sit down with Frances Barney. Frances is the Head of Global Risk Solutions and Institutional Accounting Operations within BNY Mellon Asset Servicing, and a 2018 recipient of TSG’s Women in Performance & Risk Measurement award. This May at the PMAR (Performance Measurement, Attribution, and Risk) conference, Frances will be participating in a panel on methods and styles of client reporting, and she gives us a sneak peek at the topic. She shares her favorite PMAR memory and some key takeaways from last year’s Women in Performance Measurement (Wipm) in-person event. “There’s such a strong desire to connect and build a network, in part to help the next generation, but in part to develop a shared language and sense of experiences.” Frances tells us about ImprovEdge, the business training company she co-founded shortly after graduating from college. In the lightning round, she shares her dream musical theatre role.
Connect with Frances on LinkedIn, https://www.linkedin.com/in/frances-barney-cfa-24280b12b/.
For more information on Women in Performance Measurement (Wipm) and the 2024 Wipm conference, visit https://tsgperformance.com/events/women-in-performance-measurement/.
In Episode 14, Pat and Doug interview Chris Lourens of Solve Consulting. Chris has a 30-year tenure in the financial markets and over 24 years of involvement in the GIPS® standards. Last year, Chris participated in a webinar with David Spaulding titled “The GIPS Standards and The South African Market: What You Need to Know,” and he shares some of the key takeaways from that event. He discusses GIPS myths, the GIPS Compliance Thinktank, and the benefits of compliance for asset owners. “But I honestly believe that even from an asset owner point of view, the value they get out of implementing GIPS is making sure they go through all the steps and that everything is correct, so that at the end of the day, you know you’ve got a clean system, you’ve got clean processes, and things are working.” In the lightning round, Chris talks about his favorite risk measure, the book he recommends everyone read, and the movie he’s watched the most.
Connect with Chris on LinkedIn, https://www.linkedin.com/in/
In the final episode of the year, Pat and Doug sit down with Alex Serman. Alex has been with First Rate for seven years and is currently a managing director responsible for the strategic direction and growth of the Wealth Bank/Trust and Institutional markets. Alex attended the Performance Measurement Forum meeting in Porto, Portugal in November where he presented a topic on artificial intelligence. He shares some of the key takeaways with us, including when AI is coming, the risks, and the impact. “So, like any other tool, depending on how you use it, it could be good, it could be bad. It’s really up to you as a user to make sure that you integrate that properly, you mitigate all those risks.” Alex also talks about his recent blog post, “5 Performance Measurement Methodologies to Master After-Tax Benchmarking,” the Whiskey and WealthTech podcast, which he hosts, and his love of languages. In the lightning round, Alex tells us about his go-to feel-good dinner and shares his favorite holiday memory from childhood.
Connect with Alex on LinkedIn, https://www.
For more information on the Performance Measurement Forum: https://tsgperformance.
Irina Almeida joins Pat and Doug for Episode 10 of TSG Time. Irina is a Principal at Mercer where she leads the European Investment Performance Monitoring Team. She discusses her preparation process for the CIPM exam, provides advice for those planning to take the exam, and talks about what she likes most about performance measurement. “You deal with so many people, within your company and outside of your company. I think it’s a profession that actually creates bridges. Being with clients, being with colleagues from the company, so it allows us to have this broader perspective of the investment world and industry.” Irina also touches on travel planning, her favorite risk measure, and in the lightning round she recommends books and shares what she is most grateful for.
Connect with Irina, https://www.linkedin.com/in/
Claude’s article will appear in the Fall 2023 issue of The Journal of Performance Measurement. Sign up for your free subscription now, https://tsgperformance.
Connect with Claude on Linkedin: https://www.linkedin.com/in/
Pat and Doug sit down with Elske van de Burgt for Episode 7 of TSG Time. Elske has been with Ortec Finance for over 25 years and is the managing director of the Investment Performance group. She discusses a second position she’s recently taken on managing the climate and ESG team. Elske talks about the 2002 Dietz Award-winning article, “Decision-based Evaluation of the Performance of a Hierarchically Structured Investment Process,” which she co-authored with Jeroen Geenen, Marc Heemskerk, and Michiel Heerema, and provides some information on her upcoming speaking engagements and her research process. In the lightning round, Elske touches on overcoming fears and her favorite summertime activity.
Connect with Elske, https://www.linkedin.com/in/
James Cardamone of FactSet joins Pat and Doug for Episode 6 and discusses his recent article, “Measurable Ways for Performance Teams to Add Value in ESG Investing,” which was published in the Winter 2022/2023 issue of The Journal of Performance Measurement. James talks about ESG composite scoring and the considerations that go into constructing one, and the use of carbon analytics in performance style reports. James also touches on modern classical music and the most meaningful book he’s ever read, “The Art of Happiness.”
Connect with James, https://www.linkedin.com/in/james-cardamone-5b663814/.
Sign up for a free subscription now, https://tsgperformance.com/free-journal-of-performance-measurement/.
Doug interviews Pat in this bonus episode of TSG Time. Pat celebrated his 25th anniversary at TSG in June. In this episode, he shares some of the highlights of his career, discusses how the company became the leader in the performance and risk measurement conference space, and tells us why Dublin, Ireland is his favorite place to visit with TSG. The Performance Measurement Forum recently held its 100th meeting in the US and 101st meeting in Europe, and Pat, who has overseen the group from the beginning, contrasts the US and EMEA Forums. In the lightning round, he touches on golf and music.
Connect with Pat, https://www.linkedin.com/in/
For more information on the Performance Measurement Forum, click here, https://tsgperformance.com/
In Episode 5, Susan Agbenoto of Opus Investment Management joins Pat and Doug and discusses the overarching blocks of performance in GIPS compliance. She shares highlights from the inaugural Women in Performance Measurement event, which was held on May 23rd in New Brunswick, NJ, and talks about increased opportunities for women in the field. During the lightning round, Susan tells us where she would go if she could travel back in time, and ends with a snapshot of an ordinary moment that brings her great joy.
Connect with Susan, https://www.linkedin.com/in/
For more information on Women in Performance Measurement (Wipm), visit https://tsgperformance.com/
In this episode, Pat and Doug sit down with Stephen Campisi of The Pensar Group to discuss his recent Journal article, “Evaluating Benchmark Misfit Risk” as well as his upcoming PMAR presentation based on that article, and his current research topic on the role of passive investments in asset owner portfolios. He talks about how performance analysts can gain a greater presence, and shares his thoughts on the direction of the performance function. Steve, who is a classically trained musician, also discusses the correlation between math and music.
“Evaluating Benchmark Misfit Risk” was published in the Fall 2022 issue of The Journal of Performance Measurement. Sign up for a free subscription now, https://tsgperformance.
The 21st annual PMAR Conference will take place on May 24 and 25th, and there’s still time to register. For more information, visit https://tsgperformance.
Carl Bacon of Confluence joins us for Episode 3 and discusses the 3rd edition of his book, Practical Portfolio Performance Measurement and Attribution (Wiley, 2022). He goes over some of the changes and additions readers can expect to see in this edition, including a new, chapter on attribution and an expanded chapter on risk. The book also features a section on the asset management industry and covers the GIPS® 2020 revisions. He talks about his preference for geometric attribution, his love of space opera, and tells us about his favorite American football team, the New England Patriots, and how he became a fan.
Practical Portfolio Performance Measurement and Attribution, 3rd Edition is available now, https://www.wiley.com/en-us/Practical+Portfolio+Performance+Measurement+and+Attribution%2C+3rd+Edition-p-9781119831969
Connect with Carl, https://www.linkedin.com/in/carl-bacon-86984b101/.
In our first episode, Pat and Doug sit down with the founder and CEO of TSG, David D. Spaulding, DPS, CIPM to discuss his career in performance measurement, the growth of the industry, his passion for performance, and his thoughts on the new SEC marketing rule.
Dave shares his favorite Performance Measurement Forum moment and city, and talks about the differences between the US and European Forums. We conclude the interview with a lightning round of questions.
Click here to begin your free subscription to The Journal of Performance Measurement.
Connect with Dave, https://www.linkedin.com/in/daviddspaulding/