Q&A with J.P. Morgan's new Head of Institutional
Stephen Alcorn has been appointed to head J.P.Morgan's Australian institutional business. Find out why 18 months in a different industry gave him the impetus to finish his studies, what he is most looking forward to in the new role, and why his father's "longevity expectations" are a reminder of the industry's obligations.
Stephen Alcorn has been appointed to head J.P.Morgan's Australian institutional business. Find out why 18 months in a different industry gave him the impetus to finish his studies, what he is most looking forward to in the new role, and why his father's "longevity expectations" are a reminder of the industry's obligations.
What are you most looking forward to in your new role?
The opportunity to share with the market and my clients the tremendous range of global capabilities, research, and expertise across virtually every asset class that J.P. Morgan Asset Management can bring. Also, developing long-term partnerships with Australian institutional investors and helping them deliver better investment outcomes through that partnership.
What skill do you think is paramount in working in the financial services industry?
Flexibility to adapt to the ongoing changes as the industry matures, along with an ability to effectively communicate with the diverse range of participants - from fund members to Chief Investment Officers and Trustees. All while maintaining honesty, openness and a commitment to "do the right thing".
If you could give advice to someone starting out in the industry what would it be?
Like superannuation, you must maintain a long-term commitment to your clients, and always "be yourself". My father regularly reminds me he doesn't like adjusting his "longevity expectations" and that ultimately there are millions of Australians like him who are relying on us and our industry to help provide stability and security in their retirement years. Finally, to quote Dr Don Stammer - "always remember that everything goes in cycles, and the cycle lives on....."
Would you consider yourself an introvert or an extrovert? And why?
I wouldn't say I have a strong bias to either, rather I'd like to think I can adapt to each situation and bring a valuable perspective to the conversation.
What was your very first job?
After completing Year 12, I spent 18 months as a cleaner for a Health Club in Perth. Scrubbing toilets, showers and gym equipment at 4am wasn't much fun, but encouraged me to pursue my studies. Soon after, I was also "privileged" to be working at AMP Superannuation through the 1987 market crash and learned many lessons from that experience.
