Meet Kim Howard, Chief People Officer at Ashburton Investments
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Meet Kim Howard, Chief People Officer at Ashburton Investments

From stockbroking and psychology to asset management Human Capital, it’s about honing human potential for Kim Howard, Chief People Officer at Ashburton Investments.

With more than 100 high-performing employees under her wing, Kim Howard, Chief People Officer at Ashburton Investments, has the dual task of creating an environment that drives strong team performance in a high-stakes knowledge industry, while encouraging resilience and a sense of value in individuals who chose a career in the asset management industry.

Her unique set of qualifications, as a Chartered Accountant with a PhD in Social Psychology, provide her with a unique understanding of the human needs within the industry environment. For Howard, it’s important to enable people to play to their strengths, which often involves “removing obstacles and noise”. Balance is important to her. She is married with two sons, an avid traveller and cook, and has a horse she loves to ride. She also recently became “a meditation zealot”. “It’s important to give your mind and body a chance to breathe and be mindful. Our hectic, ‘always on’ lives are not conducive to that.”

To delve deeper into her insights, credentials and goals, we asked her a few questions:

  1. What have been some of your milestones since taking over the human capital function at Ashburton Investments a year ago?

    The team has stabilised quite significantly in a year. We haven’t had any new changes to the executive team, in fact, I was the last person to join the exco a year ago. The exco is strong, the larger team is settling, we now have very strong distribution people in place, we have great ops (operations) people, and we have strong leadership, all of which is very positive. We are also making some exciting new female appointments, which we will be announcing in the coming months. Female representation in the asset management industry is definitely an area we can all improve on.

    We have an effective human capital support team, and we have completed a six-month performance cycle. The team has also implemented a much more objective performance assessment process. We are succeeding in creating a stimulating and challenging environment for diverse talent. If talented people are not challenged and slightly uncomfortable, they stop growing and start waning. This is why we provide incentives for reaching stretch goals.

  2. As the Chief People Officer at Ashburton, how would you describe the leadership of the business?

    We have established and respected industry stalwarts leading all our teams, and that’s a great base from which you can build a formidable company. CEO Duzi Ndlovu is an experienced and inspiring leader. He is the kind of person you want to follow, with people’s interests and development at heart. We also have a very strong Chief Investment Officer (CIO), Patrice Rassou, who is well-known in the industry and a true champion for diversity. He prioritises hiring women and people from different backgrounds and perspectives, as cognitive diversity is very important within teams that solve complex problems together.  

  3. What is your human capital goal for the Ashburton business?

    Now that we’ve achieved stability, our next goal is to take it to the next level and instil belonging and engagement within the business to entrench high performance. From a cultural perspective, we are fostering a sense of urgency around healthy competition, cohesion in the business, a thought-provoking ethos, and a quest for excellence. We are on a mission to identify top talent and to further strengthen the gender stats in our investment teams. We are also focusing on building a culture of curiosity and continuous learning, which is very important in our industry.

    We also want to build stronger industry ties for education and learning, for instance through partnership with the CFA (Chartered Financial Analyst) Society. People join companies where they can develop and learn. You also need have a culture where people feel psychologically safe where they feel they can challenge group think, are able to grow, and give each other constructive and candid feedback in a respectful and productive way. 

  4. How did you get to your current position?

    I started out as a Chartered Accountant (CA) about 33 years ago and completed my articles at KPMG, and then I started my career as a stockbroking analyst at HSBC. I brokered for both Patrice and Duzi, actually. So, I really do understand what they do, even though I have never been a fund manager myself. Then I ran Standard Bank’s Investor Relations for about eight years, which is also in the investment field. I loved psychology so much that when I had two young kids I went back to university and picked up another major in psychology, eventually ending up with a PhD in social psychology, specialising in adolescent identity construction and belonging. Our identity is ultimately a negotiation between where we belong, where we want to belong, and where we can never belong. The findings are equally relevant in the workplace as they are in adolescence. Being a banker, I found my way back into financial services and joined Ninety One for two years, where I did some really fascinating work with another psychologist on risk-taking behaviour within asset management, and the identities of people who are willing to take risks.

  5. What have you learnt over the years about what makes asset managers tick?

    I understand the stress and pressure asset managers are under to perform and grow assets and all the operations around them that by implication are under the same pressure. I get what makes them tick. Most asset managers are quite restless. They tread in the world heavily. They make a career out of sharing their opinions, which exposes them to scrutiny. Their jobs are stressful, as the world changes constantly and  and their performance is reliant on analysing the effects of these multitudes of changes. You have to find a balance between supporting them and giving them the space to grow. If their funds are doing badly, you need to bolster their confidence and resilience, while also understanding that their sense of discomfort, vigilance and ability to operate in uncertainty drives them and makes them good at their jobs. What is very important is to create an environment where they are stimulated and challenged, yet feel supported, and enabled to perform. For asset managers, autonomy – the ability to be in control of their own funds – is extremely important. You enable them by removing frustrations, noise and obstacles to performance, such as laborious admin and other extraneous distractions. They want the luxury of being able to focus obsessively on the markets, as that’s what they do best!

  6. What are the other roles within asset management that need to be looked after?

    At any asset manager, you also have an operations team, who creates the processes and systems that the portfolio managers depend and thrive on. The salespeople also need to be highly competitive, highly driven and are people who do not take ‘no’ for an answer. We have a really good selection of those kinds of people in the business now. I am excited about the team we have in place.

  7. Are there any general trends or insights you can share about human capital development?

    I think the global focus on wellness is positive, but in some cases the pendulum has swung too far to the other side. I see young people in the workplace outsourcing their agency and happiness, because they think other people will provide it to them. For people to feel the real rush of purpose and personal growth, they need internal agency, resilience and grit. It’s up to the individual to take up and use the many wellness offerings we have. The most important thing for employees is the ability to develop and grow. I think you can do so much more for an employee if you understand what motivates them, where they want to belong and develop in their career, and offer a path for them to get there. The rest is up to them.

  8. Would you say that Ashburton is now one of the asset managers to watch?

    Yes, definitely! I think Ashburton has a good story to tell, both from the performance perspective and from the perspective of being a great company to work for. Its exceptional locations, in Sandton in Johannesburg, and the Foreshore in Cape Town, also make it a great place to work. What we are working on now is the Ashburton Employee Value Proposition. This is ultimately the organisational social contract: what we as an organisation offer you and what can you offer the business in return, with both parties feeling that they get real value out of the relationship. It defines why an employee would want to work for us. Beyond fair renumeration, it’s also about getting the balance with learning and development right. Within our company, we provide support on health and wellness, childcare (in Sandton), further education and training, and emotional benefits such as a positive culture, connection and recognition. Employees want a sense of purpose and asset management as the custodian of people’s retirement plans provides a deep sense of purpose. Culture and connection should never be underestimated – globally more people change jobs because of this than they do for more money or benefits.

  9. What are you most excited about for the future at Ashburton? I am excited about the future prospects of this brand and the value it adds to the FirstRand Group. We work with smart, interesting people, and develop young talent, while focusing on an environment of inclusion and belonging. There is a real opportunity to create something incredible here at Ashburton.