Traders Magazine caught up with Carrie Benz, Global Investments COO at Janus Henderson Investors, to discuss her career, key trends in the asset management industry and financial technology.
You’ve had an impressive career path leading up to your current role as Global Investments COO of Janus Henderson Investors. Can you share some pivotal moments or decisions that shaped your journey?
As an investor in what was then Janus Funds, 25 years ago this was the only place I wanted to work and still is. I happily began by answering direct investor calls and I have been tapped on the shoulder for opportunities within the firm ever since, working in both distribution and investments. One of the most defining moments was accepting the role of Global Investments COO in 2022. This opportunity allowed me to bring together various teams under one umbrella, including fixed income and equity trading, research management, strategic investment banking partnerships, front office controls and governance and business & change management functions. This amazing group of people bring their expertise and work together globally in support of our investment teams to drive client outcomes.
As someone who’s navigated both leadership and operational challenges, how do you balance the demands of managing people, processes, and technology?
Balancing the demands of managing people, processes, and technology requires a multifaceted approach. We focus our efforts on activity that generates alpha, improves profitability, results in operational efficiency, and mitigates risk. I believe in fostering a culture of collaboration and open communication, which helps in aligning the team’s efforts towards common goals. It’s essential to leverage technology to streamline processes and enhance efficiency then redeploying that capacity to growth areas of our business. Key to this approach is investing in our people. We sponsor career development through global assignments, continuing education, management training and special projects. I’m proud to share that 50% of our new hires in the Investment COO Team in 2024 were internal promotions.
As a woman in a senior leadership role, what challenges have you faced, and how did you overcome them?
As a woman in a senior leadership role, I find that we can be a better ally to ourselves. In the past, I have shied away from new growth opportunities and felt the need to prove my capabilities at times, but mostly I have been surrounded by colleagues, friends and family who have pushed me to try, helped me along the way and were there to celebrate successes. I try to share this perspective and encourage others to remove their own self-limitations. As my mother taught me, “leave things better than you found it.” In this regard, it’s my responsibility to be an advocate, ally and role model… leaving the door wide open for the next generation of leaders.
Throughout your career, what’s been a defining project or initiative you’ve worked on that stands out as a real game-changer for you or your organization?
I find that opportunities often present themselves in the form of frustration. One such opportunity presented itself with a chorus of frustration around the way in which Janus Henderson leverages our proprietary research. This culminated in the development, in partnership with our colleagues in IT, of a world class award winning proprietary research management system. The ethos of which was to take us from being “information rich to insight rich”. The tool, named QuantumOne is leveraged across the global and by all asset classes within Janus Henderson.
In your experience, how has the role of a COO in asset management evolved over the years, and what do you think will be the biggest changes in the future?
The role of a COO in asset management has evolved to encompass a broader range of responsibilities, including strategic planning, risk management, and technology integration. COOs are now expected to drive innovation and operational excellence while ensuring regulatory compliance and managing complex stakeholder relationships. In the future, I believe the biggest changes will involve the increased adoption of advanced technologies such as artificial intelligence and blockchain, which will transform how we manage assets and interact with clients.
From your perspective as a Global Investments COO, what are the key trends currently reshaping the asset management industry, and how do you think these trends will play out in the next 5 years?
Several key trends are currently reshaping the asset management industry. A core belief underpinning Janus Henderson’s strategy is that traditional investment products are commoditizing, new asset classes are forming, and future asset growth will come from different channels and markets than in the past. Over the next five years, I expect these trends to continue gaining momentum. Asset managers will need to innovate both organically and inorganically and adapt to meet evolving client needs, leverage partnerships, and enhance operational processes to remain competitive and relevant.
How do you see the relationship between technology and human capital evolving in the asset management space? Do you think automation could replace certain operational functions, or is human oversight still essential?
The relationship between technology and human capital in the asset management space is evolving towards greater collaboration and synergy. While automation can replace certain repetitive and manual operational functions, human oversight remains essential for strategic decision-making, risk management, and client interactions. Technology can augment human capabilities by providing data-driven insights and enhancing efficiency, but the expertise and judgment of skilled professionals are irreplaceable. The key is to strike a balance between leveraging technology and maintaining a strong human element to drive innovation and deliver superior client outcomes.
What do you think will be the next big ‘disruption’ or innovation in asset management that firms need to prepare for?
The next big disruption in asset management is likely to be the widespread adoption of blockchain technology and digital assets. Blockchain has the potential to revolutionize how we manage and transfer assets, providing greater transparency, security, and efficiency. Additionally, the rise of digital assets and cryptocurrencies will create new investment opportunities and challenges for asset managers. Firms need to prepare by investing in technology infrastructure, developing expertise in digital assets, and staying abreast of regulatory developments. Embracing these innovations will enable asset managers to stay competitive and meet the evolving needs of their clients.
