Rupert spent 13 years working in investment banking gaining broad experience across the capital markets. From a start in equity sales at Cazenove he moved via cross-asset sales at Lehman into principal trading at Nomura. This career path gives Rupert a perspective from both buy and sell-side and an understanding of a range of asset classes. Having spent his career consuming financial data Rupert is determined to transform loan performance data into metrics that facilitate price discovery and drive investor adoption. Rupert holds a BSc from the University of Durham.
What is it about FinTech that excites you?
Equities are a perpetual asset where cash flows should be expected to be volatile and may, or may not, be paid out as distributions to investors. Huge investment has been made into the almost impossible task of establishing fair value in these assets: quarterly reporting; the research community; earnings estimates; earnings consensus etc.
Meanwhile any loan is made up of a series of cash flows scheduled to arrive over a defined period. Performance measurement and valuation should be a relatively simple task. The reward for effective price discovery is better rates for lenders and a fair compensation for the risk taken by investors. This is the definition of financial efficiency. I am excited by the progress being made towards improved price discovery for lending markets.
What do you envisage being the biggest development in FinTech in the next 5 years?
Improvements in price discovery for loan assets.
What is the biggest change that you have witnessed in the sector over the past 12 months?
A developing recognition that improved price discovery brings benefits to both sides of the market.
Who would be your top 3 dinner party guests and why?
- JM Keynes – The foresight and integrity contained in ‘The Economic Consequences of The Peace’ is unmatched in human history.
- Mario Draghi – Because he understands monetary policy and had the diplomatic skills to use his skills to good effect in difficult circumstances.
- Alev Scott – For making us realise how little thought we give to our most precious innovation – democracy.