A Damning Indictment of First Sentier Investors' Downfall
Pros
Strong franchise in EM equities and Unlisted Infrastructure
Cons
One good case study of how a CEO with zero experience in fundraising or investment dismantled a once-decent asset management firm like First Sentier Investors. Lacking forward-looking vision, leadership fixates on cyclical cost-cutting, endless useless operational reviews with governance teams, followed by restructurings that unwind changes for yet another modernization attempt. Prioritizing payouts for management and select investment teams while gutting the rest, this accountant-driven regime bungles acquisitions at market peaks, burdening the company with needless costs, alongside a failed ESG strategy that paid lip service to sustainability without meaningful impact or accountability. This shortsighted strategy erodes client trust, halts growth, and exemplifies visionary-less ruin, bleeding talent and relevance—the outgoing CEO's solo retirement tour around the globe just before closing Stewart Investors epitomized hypocrisy amid a firm-wide travel freeze; why not let the incoming CEO instead?
