DR. SUZIE CARMACK EXECUTIVE WELL-BEING COACH OF THE YEAR PAGE 14 Learn more about Suzie’s Journey on As I hear conversations in which people complain that the healthcare ecosystem is broken, I want to start a new conversation on how we can heal it.
Finance Monthly Global Awards 2023. INTRODUCTION 3
Finance Monthly Global Awards 2023. 5 INTRODUCTION Welcome to the Finance Monthly Global Awards 2023 edition. This year, we spotlight individuals and companies that have marked significant achievements in the finance sector. Our aim is to acknowledge those who have demonstrated notable leadership and innovation within their fields. On our front cover, we feature Howard Lashner from Lashner Financial Group/Primerica, highlighting his role in shaping the company’s direction and its standing in the financial services sector. His efforts have contributed to the firm’s recognition for its services and client focus. Alongside him on the cover, we feature Simbarashe Makwembere from Maksure Risk Solutions, Lilian Lo from Quintar Capital Limited, and Dr. Suzie Carmack an Author and Executive Well-being Coach. Each has made considerable contributions to their sectors—from risk management across Africa and strategic investment globally to advancing financial wellness and leadership coaching. The Finance Monthly Global Awards 2023 edition aims to present a snapshot of current leadership thinking through the achievements of these professionals. It’s through their stories we get a glimpse into the evolving dynamics and resilience of the business world. Congratulations to all our awardees and nominees. Your work has had a tangible impact on your industry and beyond, and it’s with pleasure that we acknowledge your efforts in this edition. Thank you to our readers for engaging with the stories of these leaders. We hope you find insight and inspiration in their achievements.
HOWARD LASHNER Lashner Financial Group/Primerica DR. SUZIE CARMACK Executive Well-Being Coach SIMBARASHE MAKWEMBERE Maksure Risk Solutions Ltd. LILIAN LO Quintar Capital EDITOR’S CHOICE 8 14 18 22
Join us for an enlightening conversation with Howard Lasher of Lashner Financial Group, where he shares his journey from a numbers enthusiast to establishing a successful financial services career. Howard’s philosophy on investments and wealth creation revolves around simplicity, accessibility, and clear communication, ensuring that clients feel understood and valued. He discusses the evolving financial landscape, the personalized approach to retirement planning, and the integration of technology in providing top-notch financial services. Howard also delves into his book, revealing common mistakes in the industry and his unique strategies that have led to his recognition as a top securities producer with Primerica. Whether you’re starting your financial journey or seeking to optimize your existing plans, Howard’s insights provide a roadmap for effective financial management in today’s complex world. ADVISER OF THE YEAR Finance Monthly Global Awards 2023. USA 8
National Sales Director Howard, could you give us a brief introduction to your career path and what led you to join Primerica and establish Lashner Financial Group? I’ve always loved working with numbers. For some reason, there’s a place in my head where they just make sense. It seemed logical when I was younger that I would be an accountant. But I ultimately decided that path wasn’t for me. My grandfather suggested I meet with someone he knew—a Financial Professional with Primerica. Speaking with him let me know that I had found my calling. I also realized that my passion for numbers was only half the equation; the other half was my passion for helping people prepare for their financial future. Over the years, my business grew significantly, so I felt it was time to personally brand my business, so I established Lashner Financial Group. What is your overarching philosophy regarding investments and wealth management, and how do you impart this to your clients? My philosophy breaks down into three parts: Keep it simple; make it easy for clients to work with us; and communicate regularly with them. Here is how I implement my philosophy: In my years of helping clients as a financial professional, I learned the value of keeping it simple. This means never talking down to clients. Instead, present information in a clear, concise way. And take the time to make sure they understand what I am telling them. Using industry jargon—and there is a lot of jargon in our industry—tends to confuse and intimidate many clients. I have learned it’s important to “speak someone’s language”. What I mean by this is, if my client is a teacher, I’ll use examples from education that she can relate to; or, if she’s a realtor, I’ll tailor the information in ways that relate The individuals identified as Lashner Financial Group are affiliated with Primerica Inc., and offer products and services through Primerica subsidiaries, including PFS Investments Inc. Finance Monthly Global Awards 2023. USA 9
10 Finance Monthly Global Awards 2023. USA to her daily experiences. Most people, including myself, have experienced being a customer of a salesperson or representative who throws around their industry jargon we don’t know or understand. So, we often leave either confused or dissatisfied. To paraphrase Albert Einstein, genius is making the complicated simple. I strive each time I’m with a client to be mindful of the words I use. Next, I make it easy for clients to want to work with us. We spend a lot of money on branch office support so we can handle administrative duties quickly and easily. Our attitude is we will either do it for you or with you. If there is an issue, question, or challenge, then one call to our office is all they need for us to take care of it. If whatever they need can’t be handled during that call, we will follow up with regular updates until it is completed. Clients should never have to follow up with us. This ties into the third part of my philosophy: communicate regularly with our clients. For most clients, 90-day outgoing calls to them is just the right timeframe. It allows them to ask questions that they might otherwise not think to call us about. And, importantly, it lets them know that we are there for them. We’re there to answer questions and concerns, as well as reassure them they are on the right track. About half of my current clients have previously worked with financial advisors. I’ve found that they’ve left them and come to work with me because the past advisors failed to do one, or more, of these three points of my philosophy. How do you keep up with the constantly changing financial landscape to provide the most up-to-date advice to your clients? I’m a curious person by nature, so I enjoy reading and educating myself on the financial trends and changes in our industry. I do this by regularly communicating with product wholesalers, who educate us on how and where their products fit in certain situations, and I attend training sessions, conferences, and conventions, as well as meet with individual company representatives. I also constantly ask follow-up questions that I know are important to my clients so that I am prepared with the right answers to deliver on their needs. How does Lashner Financial Group simplify the process of planning for retirement? Retirement means different things to different people, so there is no “one-size-fits-all” solution. One client wants to do the expensive bucket list items they’ve put off doing; another wants a simple life spending time with, and doing things for, their children and grandchildren; while a third sees retirement as the opportunity to start a new career or business. I talk with them about their individual visions of retirement so we can make the best specific recommendations. Yet, no matter their vision, I’ve learned that to have a financially stress-free retirement, all clients need to have three simple things in place. First, they should be debt-free by retirement. We develop a plan to help get them there. It is important to go into retirement with low mandatory payments. High mortgage and car payments, and credit card debt can create misery in retirement. Eliminating debt allows people to approach retirement with a greater degree of confidence and security. Next, we develop a plan to ensure that the client has enough monthly income to pay their regular and fixed bills. We look at sources and options such as Social Security claiming strategies, pensions, rental income, and any other investment income they might have. The third thing we look at is how much they need to save and invest outside of the income-producing assets they might live on for monthly expenses. Taking these three items into consideration allows us to help guide our clients to achieve their personal vision of retirement. In this era of technology, such as AI, how has Lashner Financial Group incorporated digital advancements into your services? Of course, we work with many companies that integrate the latest technology into their systems. And it is important that clients have access to the tech improvements and advantages being made in the digital world. However, I have found that as important as high tech is, high touch is even more so. “My passion is not only for numbers but also for helping people achieve their financial goals.”
11 Finance Monthly Global Awards 2023. USA Clients get frustrated calling a company for a quick answer, but instead end up listening to a long AIgenerated voice message telling them what button to press for what topic or department. Or they are told to go to the website where the chatbot can help them faster than waiting on hold, or where they can look up the information themselves. All that’s fine to offer. But there is no replacement for the personal touch. My clients know that when they call Lashner Financial Group there will be a real person on the line to get them their answer, or to “hold their hand” for any investment or financial changes they want to make. Many clients have told me that they left their previous advisors and come to me because they didn’t like being directed to a website or unable to speak to a real person with real knowledge. In your book, 10 Common Mistakes Financial Advisors Make & Simple Ideas to Avoid Them, you distilled key pitfalls that professionals in the financial industry encounter. Could you share with us the process or experiences you went through to identify these common mistakes? Can you provide an insight into one mistake that particularly stands out to you? That is a great question. What prompted me to write the book was that I kept hearing many of the same types of complaints clients had with previous advisors. “I can’t get my advisor on the phone.” “I’m a successful executive, but I have no idea what my advisor is saying—it’s like a foreign language.” “I hear these folks on TV predict the market. Why do I need an advisor? I can just follow their suggestions.” And one statement I make sure no client of mine will ever need to say: “I have not heard from my advisor since the day I opened my account.” I thought about these common mistakes advisors make and saw that there were simple processes and actions to take, not only to resolve them but to avoid them altogether. Here is one example. A common mistake is that to grow your business and get big, you need to focus on the big things. There is a better way to grow your business: Never be too big to do the little things. I learned this the hard way—as we too often learn lessons. When I was starting out, I was not great about consistently following up with clients. Well, I had a client who I helped with a small IRA account. When he later had a very large investment to make, he didn’t consider me. It was not because he only knew me from handling a small account. It was because I didn’t do the “little thing” of consistent follow-up. It was a case of “out of sight, out of mind.” So, forgetting the little things is a big deal. And that is a lesson I always remember. Being recognized consistently as a top securities producer with Primerica is a significant achievement. Can you share what strategies and approaches you believe contributed to your success in this role? How have you maintained a consistent level of high performance in such a competitive environment? I maintain a consistent high performance because I love what I do. As I said earlier, my passion is not only for numbers but also for helping people achieve their financial goals. I wake up happy every day that I get to work with incredible clients and help make a meaningful difference in their lives and the lives of their children and grandchildren. And my clients notice because they frequently comment on my enthusiasm in working with them. I bring joy and enthusiasm every day, but it takes concentrated strategies and approaches to make my clients enthusiastic—or, as I like to phrase it, to turn them into “Raving Fans.” It will always be about how I can help my clients be better prepared for the future and reduce the stress they may feel about investing. One way is that I train my branch office staff to provide first class support. That means treating clients like my staff works for them—because they do. I also look at what I can do for my clients holistically. In addition to investments that I can handle for them, I will talk about other outside elements of financial well-being. I can handle their investments, but I also want to make sure they take steps towards a complete financial future. My clients appreciate my approach. How can I be sure about this? Many of my new clients come to me after referrals from existing clients. For someone just starting their financial journey, what would be the first step you’d recommend they take? The first step I’d recommend is to participate in their company’s retirement plan through their paycheck, or, if that is not an option, set up a monthly automated withdrawal from their checking or savings account into a retirement account. This is the simplest way to put yourself on track for financial independence. I would also recommend that they be patient. Rome wasn’t built in a day, and your wealth won’t be either. But by consistently investing with proper asset allocation, you can feel confident that you are building a solid financial future.
USA Finance Monthly Global Awards 2023. 12 Lastly, is it ever too late to start? No matter your age or where you are in your financial journey, there are always things you can do to improve your financial situation. Successful planning starts with the end in sight. Take a thorough and honest look at where you are. Are you retired or close to it? Empty nesters? A young family? Set your goals from where you are and review your current investment strategy and allocation to ensure they properly match your goals. Ask yourself some important questions. Are you invested in the right areas? Are you risk averse or a risk taker? Have you considered the tax consequences of various investment products? Once you know your personal end goal, you can then take the basic steps I recommend that everyone should take. As I’ve said, I strongly believe in paying down and eliminating debt. Equally important, increase your savings rate. Need more income? There are more ways to earn extra income than ever before that go beyond being a social media influencer or a ride-share driver. If you are retired, you can still work part-time, but make sure you look into the tax ramifications of these decisions. If you are nearing retirement, perhaps you can delay it for one or two years. Be honest about what your current and expected future needs are and consider whether you should reallocate your current investments to better align with those needs. And you do not have to—and I maintain should not—do it alone. Meet with a financial advisor. Studies have shown that the average individual investor underperforms the market. An outside expert can help you see what you cannot see on your own. After all, Tiger Woods had a swing coach while he was winning the Majors, and Michael Jordan worked with a full-time trainer while he won six NBA championships. Find an advisor that “fits with you,” one you trust, are comfortable with, and who takes the time to make sure you understand what they are saying. If you are already working with an advisor, there’s no harm in getting a second opinion. It is typically free to check out other options or strategies that may better meet your needs. The most important action to take is get started now! There are always reasons to procrastinate or wait until the “market is better.” History has shown that time in the market is more important than timing the market. In all my years in this industry I’ve yet to hear of someone who was upset because they saved too much money. For more information about Howard, please visit: www.primerica.com/lashner For information regarding licenses and state registrations, please visit www.BrokerCheck.com “History has shown that time in the market is more important than timing the market.” Howard Lashner is a registered representative and investment adviser representative with PFS Investments, Inc. (PFSI). In the U.S., securities and advisory services offered by PFS Investments Inc. (PFSI), 1 Primerica Parkway, Duluth, Georgia 30099-0001, a broker-dealer, and investment adviser registered with the U.S. Securities and Exchange Commission (SEC), a member of the Financial Industry Regulatory Authority (FINRA), and a member of the Securities Investor Protection Corporation (SIPC). PFSI offers advisory services and managed accounts investment strategies under the name, Primerica Advisors, as part of the Lifetime Investment Program. PFSI is a subsidiary of Primerica, Inc. Promotional consideration provided to Universal Media Limited for the preceding feature article. Finance Monthly, Global Awards 2023, Financial Advisor of the Year - USA, was provided on October 17, 2023, and which is based on a time frame of June 2022 through October 2023. Individuals identified as Lashner Financial Group are affiliated with Primerica, Inc. and offer products and services through Primerica, Inc., and its subsidiaries. Neither Primerica, Inc. nor PFSI is affiliated with Finance Monthly or Universal Media Limited. Investing entails risk, including loss of principal. Past performance is no guarantee of future results. This material is for informational purposes only and should not be considered investment advice or a recommendation to buy, sell or hold a security.
COACH OF THE YEAR WELL-BEING Dr. Suzie Carmack is a best-selling author, scholar and executive yoga coach, known globally as a thought leader in the promotion of work/life well-being. In her private coaching and consulting practice, she has helped 100’s of senior leaders, teams, organizations and government agencies to thrive. Through her company YogaMedCo, she has built a global training platform that certifies healthpreneurs in evidence-informed practices and then supports them in the growth of their business and brand. Let’s learn more about her journey here! DR. SUZIE CARMACK PhD, MFA, MEd, ERYT 500, NBC-HWC, PCC, C-IAYT EXECUTIVE Author and Executive Well-Being Coach USA 14 Finance Monthly Global Awards 2023.
Can you tell us more about how you started working with senior leaders and government agencies as a coach and consultant? For many years I was working in the Northern Virginia area (near Washington, DC) as a parttime yoga teacher and full time mom. Over time, students started asking to work with me one-on-one, and my private practice grew. I later studied the practices of coaching and yoga therapy, so that I could become more qualified to do this type of tailored and customized work. I also pursued a PhD in health communication, to learn more about how I could engage more compassionately with my clients and promote yoga and lifestyle medicine more effectively. In 2012, a big moment happened when a woman came up to me after a keynote talk I had delivered. She told me she was with the Washington Post and that she wanted to write a feature on my work bringing yoga into office settings. That article ended up going viral, and I started getting calls from organizations and leaders globally who wanted to learn more about my methodology. Since then, it has been an honor and privilege to work with so many government agencies and organizations in the public and private sectors – especially during the pandemic and since then. Even after all of these years of developing well-being solutions, I am still honored to do this work. Over time I have started calling it co-creation, instead of customization, because for me it’s really about partnering with the client. What makes you so passionate about sharing the benefits of yoga, lifestyle medicine and coaching? In my own life, yoga has helped me to know myself well, and empowered me to show up more authentically and unapologetically as the real me – not the me that others expect me to be. Lifestyle medicine has equipped me with the energy and stamina I need to handle the stresses I feel every day – in my struggles and in my successes. Coaching has empowered me to show up more fully for myself; for my family; and for the people I lead. Each of these disciplines have changed my life, and the trajectory of my life story – and I have seen them do the same for the leaders I coach and the organizations I consult. You call your YogaMedCo method of coaching evidence-informed, not evidence-based. Can you explain what you mean by this? Evidence-based practices are those that we know from research actually work; some kind of scientific inquiry has validated their performance and/or their potential. Evidenceinformed practices are those that integrate evidence-based practices, with real-world professional expertise and the real life lived experience of the client or group. Through evidence-informed practice, we get to see how research, real life, and lessons from the real world of practice do and don’t line up. At that intersection is a solution for a client that is informed by the best of all three of them – one that is both data-driven and doable. Can you tell us more about your commitment to social impact? I think it is important for each of us to do what we can, and to support the causes we believe in. A few years ago, when our company was smaller than it is today, the National Board of Health and Wellness Coaching put out a request for donations to support their campaign to promote the profession to the “payers” (insurance companies). I believe that health coaching can make a big impact on the healthcare ecosystem, by helping patients to process the challenges of their healthcare journey and to engage in healthier behaviors – thereby reducing burdens across the system. So I decided to make a leading gift (as the highest donation they head received to date) to support Finance Monthly Global Awards 2023. USA 15
the cause and to encourage other programs to join me. My hope was that this lead gift would pave the way for others to follow – and it did. Sometimes you have to dare to be first. We also believe in tithing a portion of our tuitions and coaching services to those who are less fortunate. We currently offer scholarships to our coach and yoga teacher training programs for underserved populations, and we offer reduced-fee training programs for healthpreneurs in my Prosper with Purpose business course and community program. Through these efforts we are not only equipping future professionals with the tools and training they need to succeed, we are also doing what we can to promote a more diverse health workforce. The more perspectives we have in healthcare, the more the healthcare system will benefit. Can you tell us more about your YogaMedCo certification pathway? We make our online yoga and coaching training programs accessible and affordable by delivering them through a membership model, that offers continuing education credits as well as certifications. Members are able to then take the courses at a pace that works for them and to also feel supported by our online community. We also support organizations and agencies with customized (co-created) training programs delivered through a combination of face-to-face (in person), online synchronous, and online asynchronous formats. We bake evaluation into all of these efforts from the beginning, so that we can track the impact of each practice or program over time. And, we offer one-on-one coaching and consulting to senior leaders and enterprise-level agencies. What are the biggest challenges you face being a coach? I am at my very best when I am able to support each client as a thought partner. But that work can take a lot out of me, because I show up so fully in my mind, body, heart, and spirit for each conversation. About 10 years ago, I wasn’t honoring the importance of taking care of myself, even as I was encouraging my clients to do the same. That’s why I wrote my book WellBeing Ultimatum in 2015 – to share my story as well as the intervention I designed for myself to break through my own burnout. Today I maintain a daily commitment to my self-care, and I continue to encourage the coaches I train to do the same. You are a best-selling Author can you share your writing experience with us and the books you have written? I wrote Well-Being Ultimatum in 2015 to share the framework I had developed for my own burnout, that worked for me. At the time of writing it, I wanted to simply share my story to break through the shame I had about being a burned out yoga teacher. The process of selfpublishing Well-Being Ultimatum was so easy that I decided to also self-publish my second book Genius Breaks (2017). That book teaches people how to take what I call a genius break – a break combining mindfulness, movement and meaning (intentio setting) to reboot their mind, body, heart and spirit for the day. I started giving talks to share the key themes in each book, and over time I was invited to speak at larger venues and events. The books eventually became #1 best-sellers in 2020, and I have also built programs based on them for organizations “Yoga has helped me to know myself well, and empowered me to show up more authentically and unapologetically as the real me – not the me that others expect me to be.” USA 16 Finance Monthly Global Awards 2023.
and government agencies. I did not intend for all of that to happen when I wrote them; I just wanted to share my work in a way that was more accessible than working with me one-onone. But I am so glad it did happen – because through the books and our YogaMedCo platform I get to serve the greater good in a way that feels aligned with what yogi’s call my sense of dharma (my personal calling and call to Serve the Greater Good). Do you have plans for any more writing to share your knowledge further? Yes, my next book is called Yoga for One: How to Co-Create an Inclusive and Evidence-Informed Practice On and Off the Mat, and it is in the preorder phase, set for full release in August 2024. In that book I share my YogaMedCo method of bringing yoga, lifestyle medicine and coaching together with professionals who wish to bring yoga to clients in one-on-one settings. Although the book is written for professionals, I do think that the public will like it too, because it shares a simple and strategic system for creating a customized practice – one that is relevant and realistic. I am excited to share this method with the world, with hopes that it will be helpful to fellow coaches, yoga teachers, yoga therapists and other health professionals. What is next for you? Personally, I will continue to live out the very principles and practices that I share with my clients. As a survivor of both burnout and cancer (12 years clear and counting) I know from my research and my lived experience that self-leadership and self-care need to come first - even when we’re busy. So my commitment to my own health, wellness and well-being, and my family will continue to come first. And professionally, I will continue to do what I love to do for as long as I can – working with clients, hosting retreats, consulting organizations, conducting intervention research, and training the change agents of tomorrow – through YogaMedCo and through my university affiliations with the Maryland University of Integrative Health (as Department Chair of Yoga Therapy and Ayurveda) and the George Mason University Center for the Advancement of Well-Being (as Senior Scholar). Although my days are full and sometimes challenging because I get to wear so many hats, I do wake up every day feeling extremely Blessed to be able to do work that I love in Service to the Greater Good. As I hear conversations in which people complain that the healthcare ecosystem is broken, I want to start a new conversation on how we can heal it. I think we really can do it - through the power of yoga, lifestyle medicine and coaching. And that is why I will continue to show up every day, for myself, for my family, for my clients and for our YogaMedCo community of change agents. Together we can co-create a more healthy and happy world - one breath at a time. www.drsuziecarmack.com Finance Monthly Global Awards 2023. USA 17
18 UNITED KINGDOM Finance Monthly Global Awards 2023. BROKER OF THE YEAR NICHE REINSURANCE Today, we have the privilege of speaking with Simbarashe Makwembere, the Managing Director of Maksure Risk Solutions for Europe, Asia, and Africa. Known affectionately as Simba, he’s here to share insights into Maksure’s expansion and its impact on the global insurance and reinsurance landscape. Maksure has evolved remarkably since its inception in 2013, starting as a modest operation in South Africa and growing into an Afro-global insurance and reinsurance broking powerhouse. With operations spanning over 47 countries across various continents, Maksure has established itself as a leader in providing innovative risk solutions. Simba Makwembere Managing Director – Europe, Asia & Africa Maksure Risk Solutions Tel: +44 (0)20 8187 5262 Email: simba@maksure.co.za www.maksure.co.za CONTACT
19 Finance Monthly Global Awards 2023. UNITED KINGDOM Simba, could you tell us about the Maksure journey expanding to reach Asia, Africa and UK. Maksure Risk Solutions has grown from a modest operation with only three colleagues focused on personal and SMEs into an Afro-global insurance and reinsurance broking powerhouse, ranking among the leading broking firms on the African continent with a client footprint in more than 47 African countries, Europe, Middle East, south-east Asia, Caribbean and the Americas. Our journey dates back to the year 2013 when we established Maksure Risk Solutions in South Africa, which serves as our headquarters. We went on to establish the engineering centre in Zimbabwe in 2017, where we built the capacity for risk management focusing on power and energy, mining, construction risks, and the oil and gas industries. The following year, in 2018, we established a branch in Ivory Coast to service the French-speaking markets. The UK branch was established in 2020, to act as a gateway to servicing the African markets in the UK. In the same year, we incorporated a Lusophone division resident at our head office in South Africa to service our growing Portuguesespeaking markets. What are the biggest challenges facing the insurance and reinsurance industry from a product development point of view, especially across the UK and Europe? We are an Afroglobal insurance and reinsurance broker searching for risk solutions for emerging markets especially for the African market, so I will respond from this perspective. The gap in providing Afrocentric risk solutions that require capacity from Europe is huge because there are various challenges that include limited quality of underwriting information emanating from Africa as well as the need for minimum premiums. These two key challenges limits the attractiveness of African risks into international markets. Although in our experience some of these risks are lucrative and sustainable they do not present what a typical Managing Director of Maksure Risk Solutions SIMBARASHE MAKWEMBERE for Europe, Asia, and Africa
20 Finance Monthly Global Awards 2023. UNITED KINGDOM (re)insurer in Europe would need to pass their underwriting guideline. Further, we find that the European mainstream market has not taken time to understand and craft products that are relevant and applicable to the African diaspora living and working in Europe. As Maksure Risk Solutions we are working with the European market to close some of these gaps. How do you build and maintain solid relationships with clients across different regions and cultures? We have a conscious awareness and appreciation of the unique cultures and circumstances of our clients. The make-up of our team is an advantage in that the different backgrounds allow us to understand different cultures, perspectives and needs. Culture has a great influence on how the organisation approaches risk and risk mitigating models. We have a unique appreciation of these nuances. Additionally, we extend relations beyond virtual connections to meeting physically so as to build and solidify our client relationships. We are first believers in the holistic ethos of Ubuntu (a concept in which your sense of self is shaped by your relationships with other people), and our clients will attest to how this has brought about fruitful and long-reaching relationships. The domino effect has gained us access to places and markets we have yet to enter; our reputation always precedes us. How has technology influenced Maksure’s approach to risk management and, particularly, reinsurance management in the markets in which you operate? Maksure comprises of a young and dynamic team anchored on technology. We have developed a strong IT system that integrates all our strategic business units. Additionally, we have employed an insuretechheavy approach to the solutions we offer, enabling seamless engagement with our clients in providing traditional and alternative risk transfer. We are also employing blockchain technology to refine our product offerings and markets. Blockchain technology has enabled the organisation to achieve efficiency gains, make cost savings, employ transparency, make and receive faster payouts, and mitigate fraud while allowing for data to be shared in real-time between various parties whilst protecting the integrity of all our clients and supplier information. Because in our line of business, information is everything. Technology has also enabled us to gather and quantify data that allows us to design alternative risk transfer models and have a stake in futuristic forms of cover, such as parametric insurance, which is now forging a critical role in securing the key functions in most emerging markets in the areas of agriculture, power and water supply and generation, and other bespoke lines of business. How does Maksure Risk Solutions balance global risk trends with local market needs in the regions in which it operates? What sets us apart from competitors is that we have local knowledge of the markets we serve due to our physical presence, backed by a global outlook as a result of the network of colleagues in our organisation operating in various parts of the world. As market leaders, we continuously stay abreast of market forces and trends, providing timely innovative solutions and pre-empting potential threats. Our teams are geared to anticipate market shifts and changes by dedicating resources to extensive research through our dedicated think tanks and prototype centres, where we test theories in real time and weigh possible trajectories in markets. We are intentional in ensuring we are not blindsided by developments; in that way, we become the client’s preferred service provider. How do you envision the future of reinsurance in the emerging markets in line with developments in the European market. What is Maksure Risk Solutions’ role in shaping it in the future? Climate change, leading to increased frequency of catastrophic losses will continue to be a challenge in the future. We have seen international markets,
21 Finance Monthly Global Awards 2023. UNITED KINGDOM including European markets, participating in large catastrophe claims that has impacted their profitability and the way in which they view risk. Inadvertently, this will have a huge impact on emerging markets, and Africa, that have not been active in catastrophe losses will not be spared the potential adverse effects. As Maksure Risk Solutions we assist our clients in emerging markets to elevate the pricing of secondary perils in line with global trends. Europe, the UK in particular have, in the last two to three years, been faced with a high inflationary environment. This has also impacted the way that reinsurers view sum insured adequacy and issues of application of average in general. Although most emerging markets have already been faced with issues of inflation, we have seen the elevation in the management of sum insured adequacy through the tightening of clauses and policy wordings. Finally, if you could have any superpower for a day, what would you choose and why? I would have the superpower of omnilingualism, which is the power to speak and understand any language fluently instantly. Not only will this mean my reach will be limitless, that l can easily enter spaces and make connections easily – but should anyone “talk behind my back”, l can catch them out. Maksure Risk Solutions is an Afro-global independent specialist insurance and reinsurance broker with a business footprint in Europe, Africa, Asia and the Caribbeans. We provide innovative and tailor-made risk solutions in Insurance and Reinsurance as well as Risk Financing and Actuarial Consulting geared towards capital management and strengthening our client’s balance sheet. Our global nature ensures that our clients access A-rated market capacity and stay abreast with the world’s most equipped think tanks and tailored solutions. The United Kingdom entity is our latest addition to the group, having been established and authorised by the Financial Conduct Authority (“FCA”) in March 2020. The group’s history dates back to 2013, when the company was incorporated in South Africa and registered with the Financial Services Provider (“FSP”). The establishment of the Maksure UK office was to act as a gateway for African businesses that require complex capacity from the world’s largest financial hub, including the Lloyd’s of London. Furthermore, the UK office was also established as a response to the growing need for an organisation to meet the unique needs of the African diaspora residing in the diaspora (Europe, the Americas and Asia) by designing and offering bespoke products that may not be found in the mainstream markets. Today, the company is recognised as a niche player servicing the African and the Caribbean markets with reinsurance capacity in the lines of aviation, political violence, financial lines, clinical trials, large property accounts in mining, oil and gas, and renewable energy, to name a few. The company relies on its 5 key core competencies which are: • Deep understanding of the emerging market risks that require complex capacity from Europe and other developed reinsurance markets • World-class specialist technical skills in risk financing, reinsurance, actuarial consulting, and insurance broking • A blend of cell captive management (non traditional insurance) and reinsurance structuring expertise backed by a world-class network of capacity holders and strategic relationships. • State-of-the-art IT systems that allow us to support our clients in handling large corporate risks facultative and treaty reinsurance with great efficiency • Exceptional product design and route-to- market skills. ABOUT MAKSURE RISK SOLUTIONS
ADVISORY FIRM OF THE YEAR FINANCIAL Quintar Capital is a specialist private market investment firm based in Hong Kong with a strong focus on primary and secondary Private Debt opportunities. Founded in 2015, Quintar Capital is well-positioned to leverage funds raised in Europe and Asia while taking advantage of the fast-growing Private Debt market. One of the key strengths of Quintar Capital is its unique combination of Asian investment expertise and a European-based group affiliate network, which includes a pan-European insurance group, a German-based bank, a UK-based asset manager, and a Swiss-based asset manager. The Firm’s investment team is led by a key professional with over 30 years of experience in complex risk and investment matters, thereof 24 years working out of Hong Kong and Tokyo. Quintar Capital specializes in alternative debt financing and marketplace lending solutions. Furthermore, Quintar Capital’s European-based investor network provides access to a vast pool of capital. European investment portfolios tend to be underweighted in Asia due to concerns such as time zone differences, rule of law, and language barriers. Quintar Capital actively addresses these concerns by maintaining regular communication with its European and Asian institutional investors, ensuring their needs are met, and creating sought-after investment strategies. Quintar Capital currently manages five funds and several managed accounts. Its flagship strategy, which focuses on marketplace lending, debt secondaries, and other yielding private debt investments, was launched in 4Q 2021. LILIAN LO Fund Manager of Quintar Capital USA 22 Finance Monthly Global Awards 2023. HONG KONG
Lilian, can you tell us about your journey to become the Fund Manager of Quintar Capital and how your experience and expertise in the Asian markets have shaped the company’s approach to its key services, such as marketplace lending and private debt investments? As the Fund Manager at Quintar Capital, my passion for Asian markets and expertise in private debt investments drive my journey. With prior experience at UBS in Global Wealth Management, catering to ultra-high-net-worth clients, I understand the unique investment needs of affluent individuals. At Quintar Capital, I have gained extensive knowledge in private credit and trade finance, particularly in distressed and special situations private debt instruments. This expertise allows me to evaluate and structure investments in financially troubled companies or those undergoing significant changes. My expertise in special situations shapes Quintar’s investment approach to have a focus on risk management. We emphasize portfolio diversification as a risk mitigation strategy. By spreading investments across various platforms or issuers, industries, and geographies, we reduce the impact of any individual default or adverse event on the overall portfolio. Diversification helps to manage concentration risk and enhance the potential for stable returns. Quintar Capital has a specific focus on family-oriented investments. What are the key criteria you use when assessing these investments? And what are the types of investment strategies you cover for family investors? Quintar specializes in private credit and trade finance investments in the APAC region, with a particular focus on the commodity trade finance space. Our expertise in this area stems from our initial involvement as an investor through the management of a fund-of-funds’ strategy. We have found this strategy appealing due to its low volatility and limited correlation with the broader market. Building on this success, in November 2023, we expanded our offerings and acquired the management of a trade finance fund (Quintar Kimura Special Credit Fund, formerly known as Kimura Commodity Trade Finance Fund), engaging in direct lending to commodity traders. This move allows us to further capitalize on the opportunities presented by the commodity trade finance market. In addition to our focus on trade finance, lending platforms are another target of our investments. These platforms serve as an effective tool for diversification within our portfolio. Typically, these platforms provide financing to small and mediumsized enterprises (SMEs) using invoices or receivables as collateral. Furthermore, we actively seek investment opportunities on the equity side and engage in direct lending with an equity upside to prospective companies. Our investment strategy is aligned with mega trends, such as electric vehicles and the transition to a more sustainable future. For example, we invested in an electric vehicle infrastructure company that emphasizes vehicle-to-grid integration. This innovative approach allows EV owners to be paid by local electric utilities during peak hours of electricity usage, providing an additional revenue stream. By combining our expertise in private credit and trade finance, our focus on diversification through lending platforms, and our alignment with futureoriented mega trends, Quintar delivers strong riskadjusted returns while contributing to sustainable and impactful investments in the APAC region. Considering the unique dynamics of family-oriented investments, how does your firm assess and manage the risk appetite for these investments, and what strategies do you employ to align these risks with the long-term goals and values of family stakeholders? Quintar operates under the premise that we know exactly the investor’s risk pocket we have been mandated to and that we need to stay flexible and Finance Monthly Global Awards 2023. HONG KONG 23
agile to bring added value to our investors. Quintar is constantly on the lookout for niche investments, niche markets and unique opportunities, so far, we have achieved this nicely. Given Quintar Capital’s roots and connections with European financial institutions, how do these relationships influence your investment strategies, particularly in the context of Asian markets? These relationships influence Quintar in the way that we need to evolve, need to continue to find special investment opportunities. Nobody is asking Quintar to build a listed equity portfolio, for that there are much better managers around. However, Quintar’s relationships are asking for special opportunities that cannot be sourced by the box-standard asset or wealth managers. Quintar Capital also offers trade finance investment services. Given the complexities and risks involved in international trade, particularly given the current shipping disruption around the Red Sea, how does Quintar Capital assist its clients in terms of risk mitigation? What finance instruments are available? We now offer direct lending to commodity traders, expanding our support in trade finance. We acknowledge the increased volatility caused by geopolitical tensions and climate issues, which affect trading routes and commodity supply. There are new crises coming up every few months. Nonetheless, the similar nature of the crises makes them easier to manage. To manage these challenges, we maintain strong borrower relationships, carefully select trades, and establish strong relationships, or even partnerships with finance players that have gone through the toughest of time, like the COVID-19 pandemic. Our adaptive risk management approach enables us to effectively navigate uncertainties and disruptions in the trade finance space. Could you share how your trade finance offerings and strategies have evolved in response to recent global economic changes? We evolved our trade finance offerings and strategies in response to recent global economic changes, particularly during the COVID-19 pandemic. Recognizing the challenges faced by traders in terms of limited working capital and disrupted cash flow, we took a dynamic approach to address these issues. Anticipating the need for extended loan restructuring and turnaround times, we implemented a strategy to purchase trade finance fund units at substantial discounts. In return, we receive future distributions from these funds when successful recoveries occur. This investment strategy was specifically designed to capitalize on the unique opportunities presented during this special window of economic uncertainty. We are pleased with the returns generated through this approach, which has allowed us to support traders and benefit from their eventual recoveries. By adapting our trade finance offerings and embracing innovative strategies, we have demonstrated our ability to respond to the evolving global economic landscape and provide valuable support to clients during challenging times. “Quintar delivers strong riskadjusted returns while contributing to sustainable and impactful investments in the APAC region.” USA 24 Finance Monthly Global Awards 2023. HONG KONG
Concerning private credit - Can you elaborate on the key advantages private credit offers to borrowers, particularly in comparison to traditional forms of financing, and how these benefits align with current market trends and investor appetites? Private credit has become increasingly popular as investors seek diversification and stability. Unlike traditional financing, private credit offers lower sensitivity to market news and serves as a hedge against equity volatility. Quintar specializes in distressed/private credit, which exhibits low volatility and is counter-cyclical. Furthermore, private credit’s floating rate feature, tied to risk-free rates like SOFR, allows it to stay competitive during interest rate hikes. In contrast, fixed coupon bonds decline in value when rates rise. With the current high inflation and rising interest rate environment, private credit’s ability to provide diversification, stability, and competitive returns aligns well with market trends and investor preferences. What is Quintar Capital’s approach to risk concerning private credit? Private credit investments present similar risk factors to publicly traded fixed-income securities, but one notable risk is illiquidity. Unlike publicly traded securities, private credit investments often lack liquidity, making it challenging to sell or exit these investments quickly, especially in the absence of active secondary markets. This illiquidity can create difficulties for investors in accessing their funds when needed. However, we have established a strong network within the private credit market, which allows us to provide liquidity to the market as needed. Therefore, illiquidity is not a concern for us. In fact, we leverage this advantage by strategically purchasing secondaries of trade finance fund units, enabling us to enjoy high returns by combining the illiquidity premium and credit risk premium. By actively managing liquidity and capitalizing on opportunities in the private credit market, we navigate the challenges posed by illiquidity and maximize returns for our investors. Finally, looking at the global economic trends, particularly in Asia, what are the strategic priorities for Quintar Capital in the next five years? Private credit is a robust strategy in the US and Europe, but remains largely untapped in APAC. Asia’s credit market has grown significantly, yet banks still dominate credit allocation. Quintar sees opportunities to fill this gap, especially in commodity trade finance. We provide capital to commodity traders through asset-backed loans, offering consistent returns with low correlation to credit spreads and interest rates. By leveraging our expertise in private credit and focusing on commodity trade finance in Asia, we aim to tap into the vast opportunities presented by the region’s growing credit market and contribute to the financing needs of commodity market participants. Contact Lilian Lo - Fund Manager Quinter Capital T: +852 3701 1515 E: info@quintar.capital LI: www.linkedin.com/company/quintar-capital/mycompany/ www.quintar.capital Finance Monthly Global Awards 2023. HONG KONG 25
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