Next in our series of features profiling key roles in financial services, we speak with Arun Neelamkavil, Independent Non-Executive Director (INED), Advisor and Certified Investment Fund Director.
With over 25 years of experience in investment banking and a background in computer engineering, Arun recently transitioned to work as an Independent Non-Executive Director in the funds and asset management sector. We speak with Arun about his experience working as an INED, the importance of objectivity and diversity in decision making and the skills required to excel in governance roles.
I’ve taken somewhat of a ‘road less travelled’ in my career journey. I have a background in computer engineering but also have an interest in finance and tried to mix both skillsets throughout. I started out in management consulting during the dot-com days, working on the technology driven transformation of public sector and financial services firms. One of my clients was a large Investment Bank servicing hedge funds in their Prime Finance group. I enjoyed it so much that I decided to move to the sell-side leading the business consulting and sales teams at a top tier European and US bank, respectively. Most of my executive career was based in London and New York, and thankfully I still maintain good connectivity with clients and service providers in both regions.
I currently serve as an Independent Non-Executive Director across a number of funds in the asset management sector, where I try to bring both a pragmatic and responsive approach to my boards, founded in a deep understanding of investment management and technology.
I have always been interested in having a more strategic role, such as being on a board, in order to utilise my broader experience in building successful businesses with new and growing managers.
The opportunity arose much earlier than I had expected after moving back to Ireland to start our family; in doing so I was able to reconsider my options for the next phase of my career journey. Becoming an INED has enabled me to stay connected with the industry I loved working in for the previous 15 years from a more strategic perspective.
The Irish asset management community is unique in that participants are both successful and hugely collaborative & supportive of one another; this is something you will not find in any other location and one I am fortunate to be part of.
I began as a full time INED in January 2020; little did I know it was just before the Covid pandemic was to hit. Building a non-digital business from your bedroom is a tremendously difficult task and it took me a lot longer than expected to become established, but it also allowed me to build a broader and deeper network of industry connections.
I enjoy continuously learning, whether that be about ESG, AI or even SEAR; but most enjoyable is working with the variety of amazing individuals on the boards I have the privilege to serve on and the service providers that we delegate to.
I also enjoy being able to separate myself from the party politics of an executive role and solely focus on objective, investor driven, decision making.
We all have varying domain specific skills that are additive in different ways but I think there are two broader skills that INEDs need to have in order to succeed:
Diversity of Thought – you’ve been asked to join the board for your independent views; they don’t want you to simply go with the consensus. Boards want you to listen, think, ask questions and challenge when necessary; all with consideration and empathy. There are many types of diversity that boards should consider, but most critical to a successful board is diversity of thought.
Programme Management – each board position requires you to manage multiple issues, across multiple delegates over an extensive period of time, so it’s important to be on top of these matters and proactively drive them to closure. Hopefully you can build a portfolio of several boards and so the complexity multiplies, but you should also be able to learn best practices from one board and apply them to others.
“Be clear about your (product) offering and long term in your ambitions”
You need to be clear as to what your offering is, how it differentiates you from others, and then you need to concurrently build it out along with client relationships, patiently. You need to approach each with clarity, intensity and focus, while recognising that it takes time to build both. Think in years, but act in days.
This has applied throughout my career journey, whether the product was technology transformation as a consultant, margin lending in prime finance or as an INED where the product is effectively me, my collective experience and my approach to good governance.
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