THE WIGMORE ASSOCIATION – A NEW AGE OF GLOBAL INTERDEPENDENCE - Presentation delivered by Speaker Harold F. “Rick” Pitcairn II, CIO, PITCAIRN, at the IFG Wealth Management Forum Spring 2014 held in Phoenix, AZ
3. Outline
• History of Wigmore Association
• Members
• Structure
• Operating principles
• Meetings
• Benefits and examples of collaboration
• Risk and challengesRisk and challenges
• Conclusion
4. History of Wigmore Association
• How did it start?
• Background of members?
• Why it was set up?
• What members were looking for?
• How it has transitioned?
6. Semi-annual meetings
Date Host Location
2011 Spring Sand Aire London2011 - Spring Sand Aire London
2011 - Fall Pitcairn New York
2012 - Spring Myer Melbourne2012 Spring Myer Melbourne
2012 - Fall Northwood Toronto
2013 - Spring HQ Trust Frankfurtp g
2013 - Fall Turim Brazil
2014 - Spring Progeny 3 Big Sky, Montana
2014 - Fall Wigmore Singapore
2015 - Spring Wigmore London
7. How the Wigmore Association is structured
• Structure –Association
• Confidentiality agreements
• Meetings 2x per year, various locations
• Bi-monthly conference calls
• Rotating chair
• Criteria for membership
8. Sample speakers
David Denison, President/CEO Canada
Pension Plan Investment Board
• $160 bln pension plan
• Very creative long term investment
Hon. Michael Wilson, Chairman
Barclays Capital Canada
• Former Cdn Finance Minister
• Former Canadian ambassador to
Roger Martin, Dean, Biz school
• Very creative long term investment
fund
• World Bank Advisory Board
• Former Canadian ambassador to
the U.S.
• Represented Canada at G7, IMF,
World Bank
g , ,
University of Toronto
• Top global business school
• #10 most influential business school
professors
Kevin McCann, Chairman
Macquarie Bank
• Leading director in Australia
• Chairman of financial, energy
• #6 top management thinker (Thinkers
50)
Premier,
and steel cos.
Helima Croft, Ph.D., Director,
Australian state
• Private meeting with premier
• Perspective on Australian
politics and economics
, , ,
Barclays Capital
• Geopolitical strategist
• Expert in Middle East, commodities
• Former CIA
9. Benefits of global collaboration
• Global perspective
• Regional expertise
• Manager research sharing
• Asset allocation strategy and other family investment issues
• A contact in each region
• Better info for clients
• Shared due diligence and or co-investingShared due diligence and or co investing
• Exposure to new products and approaches
Marketing• Marketing
10. Examples of collaboration
• Joint meetings with investment managers in each region
• Discussion of key themes, e.g. infrastructure, emerging
markets etc.
L l i t t t E i• Local input on current events, e.g. Eurozone issues
• Each firm brings specific expertise
• Input on investing, structuring and distribution strategy for a
$1+ bln family
C i i C di l f d• Common interest in a Canadian real estate fund
11. Conclusion
• So what?
• Future of MFO advice based model depends on scale and• Future of MFO advice based model depends on scale and
scope