AI's Capital Markets Breakthrough
18 September, 2024
In the latest episode of FinTech Focus TV, Toby Babb and Tom Ungi from True Partnership engage in a compelling discussion on financial services recruitment and the transformative power of coaching in the fintech sector. This conversation sheds light on the importance of leadership development, talent nurturing, and the evolving landscape of recruitment in financial services and fintech.
Background and Experience
Tom Ungi, Co-Founder & CEO of True Partnership, shares his extensive background in financial services, spanning nearly 25 years. He recounts his journey from the sell-side to his significant tenure at Millennium, a hedge fund where he played a pivotal role in its growth. His experience in financial services has equipped him with a deep understanding of the industry's dynamics, pressures, and opportunities.
Tom's story begins in the northwest of England, where he grew up before moving to London at the age of 21. His career in financial services started on the sell-side, where he honed his skills and developed a keen understanding of the market. His time at Millennium was particularly transformative, as he witnessed and contributed to the fund's growth from managing $3 billion in capital to becoming a significant player in the industry.
Transition to Coaching
Tom's transition from a hedge fund manager to a coach was driven by his personal experience with coaching. He highlights how receiving coaching transformed his approach to leadership and personal development. This pivotal moment led him to pursue a master's degree in coaching and psychology, enabling him to help others unlock their potential.
While at Millennium, Tom underwent a period of self-doubt and uncertainty, which led him to seek coaching. This experience was eye-opening and profoundly impactful, helping him gain confidence and clarity. The positive changes he experienced motivated him to delve deeper into coaching, eventually leading him to establish True Partnership, a firm dedicated to helping individuals and organisations thrive.
Building Confidence and Curiosity
Tom emphasises the profound impact of coaching on building confidence and curiosity in individuals. He explains how coaching helped him shift from a numbers-focused perspective to a people-centric approach. This transformation allowed him to better understand and nurture talent within the financial services industry.
Coaching encouraged Tom to embrace a more holistic view of leadership, where emotional intelligence and interpersonal skills are just as important as technical expertise. By fostering curiosity and encouraging open communication, Tom was able to create a more inclusive and supportive environment for his team. This shift not only improved individual performance but also enhanced overall team dynamics.
Embracing Humility and Creativity
One of the key takeaways from Tom's coaching journey is the importance of humility and creativity in leadership. He discusses how successful leaders often exhibit humility and a willingness to adapt. By fostering these traits, individuals can create more dynamic and innovative teams.
Tom shares that humility allows leaders to acknowledge their limitations and seek input from others, fostering a culture of collaboration and continuous learning. Creativity, on the other hand, enables leaders to approach problems from different angles and devise innovative solutions. Together, these qualities contribute to a more resilient and adaptable organisation.
Nurturing Diverse Talent
The discussion delves into the significance of diversity in financial services recruitment. Tom shares anecdotes about identifying and nurturing talent from unconventional backgrounds. By focusing on attributes such as curiosity, relationship-building, and creativity, organisations can foster a more inclusive and high-performing workforce.
Tom emphasises that diversity goes beyond demographic differences. It includes diverse experiences, perspectives, and problem-solving approaches. He recounts a story of hiring a young woman with no traditional banking background but exceptional skills in relationship management and problem-solving. This unconventional hire proved to be instrumental in the growth of a new business unit, showcasing the potential of looking beyond conventional credentials.
Overcoming Challenges in Recruitment
Toby and Tom address the challenges faced in financial services and fintech recruitment. They highlight the need for organisations to evolve their recruitment processes to attract and retain top talent. This includes creating a supportive and engaging environment that values diverse perspectives and encourages innovation.
One major challenge discussed is the industry's traditionally conservative approach to hiring. Many firms are risk-averse and hesitant to deviate from established recruitment practices. Tom argues that to stay competitive, organisations must embrace change and be willing to take calculated risks in hiring. This involves not only recognising potential in unconventional candidates but also providing ongoing support and development opportunities.
Expanding Impact
True Partnership's growth from a small coaching firm to a team of 21 professionals is a testament to the increasing demand for coaching in financial services and fintech. Tom discusses the firm's expansion into new markets, including Dublin, Dubai, New York, and Miami, driven by client needs.
The firm's success is built on its ability to deliver tailored coaching solutions that address specific client needs. Tom explains that True Partnership's approach involves a thorough understanding of each client's unique challenges and goals. This client-centric focus has enabled the firm to build strong, long-term relationships and expand its impact globally.
Commitment to Long-Term Relationships
True Partnership's approach centres on building long-term relationships with clients. Tom emphasises the importance of understanding client needs and providing tailored coaching solutions. This client-centric approach has contributed to the firm's success and positive impact on the industry.
Tom shares that True Partnership views each client relationship as a true partnership, where mutual trust and collaboration are key. This philosophy extends to the firm's internal culture as well, where team members are encouraged to continuously learn and grow. By fostering a supportive and inclusive environment, True Partnership can deliver high-quality coaching services that drive meaningful results.
This episode of FinTech Focus TV provides valuable insights into the evolving landscape of financial services and fintech recruitment. Tom's journey from a hedge fund manager to a coach underscores the transformative power of coaching in unlocking potential and nurturing talent. By embracing diversity, humility, and creativity, organisations can navigate the complexities of financial services recruitment and drive sustained growth.
FinTech Focus TV is a leading platform featuring in-depth interviews with industry leaders, innovators, and influencers in the financial technology sector.
Hosted by Toby Babb, each episode provides valuable insights into the latest trends, challenges, and opportunities in fintech.
The show aims to inform and inspire professionals in the financial services industry, offering a wealth of knowledge and expertise from some of the brightest minds in the field.
For more information and to watch the latest episodes, visit FinTech Focus TV.
