THE WIGMORE ASSOCIATION – A NEW AGE OF GLOBAL INTERDEPENDENCE-Harold Pitcairn, Pitcairn

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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

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THE WIGMORE ASSOCIATION – A NEW AGE OF GLOBAL INTERDEPENDENCE-Harold Pitcairn, Pitcairn

  1. 1. Wigmore Association April 28, 2014
  2. 2. Wigmore Association Progeny 3
  3. 3. Outline • History of Wigmore Association • Members • Structure • Operating principles • Meetings • Benefits and examples of collaboration • Risk and challengesRisk and challenges • Conclusion
  4. 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?
  5. 5. Operating principles • Attendance, contribution • Collaboration • Independence • Optional participation • Confidentiality • Non-competitive
  6. 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. 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. 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. 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. 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. 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

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