Yesterday, today and tomorrow
Thirty years since its launch, IR Magazine is in celebratory mood
Of course, 30 is a mere baby compared with the magazine that describes itself as the oldest continuously published weekly magazine in the English language. That’s The Spectator, which, at 190, is old enough to be our great- great-great-grandparent.
But it’s hardly a fair comparison. There really was no call for a publication about IR in 1828. Even in 1988 it was a bit doubtful. The first corporate investor relations department had been launched by General Electric in 1953 by its then president Ralph Cordiner. He saw the need for listed firms to compete for investment via direct communications with their shareholders, or potential shareholders, and so launched the world’s first IR function.
In 1969, as IR was starting to become the norm in the US, the National Investor Relations Institute – or NIRI, as we now know it – was established and the rest of the world gradually began to follow suit. The UK’s Investor Relations Society started life in 1980, and there are now more than 30 investor relations associations around the world. Several of those bodies – including Meira, Dirk, Cliff and Nevir – offer comment in this issue, which also covers IR events in Brazil, Canada, France, India, the US and beyond.
To be sure, investor relations has changed since 1988. It’s not just that it’s become an accepted and a global discipline; it’s also one whose importance is recognized by CEOs, CFOs, investors, analysts and more.
But where will it be in 30 years’ time? Can it survive the growing proportion of investment decisions being made by algorithms? The degree of artificial intelligence involvement in the field? When these have taken over, the human aspects of the investor relationships will all but fade away. And it’s the human aspects that differentiate IR from so much else in the investment world. Its dependence on trust, honesty and relationships. Those are surely timeless values. So here’s to IR’s survival – to 2048 and beyond.
Winter 2018 features:
30TH ANNIVERSARY COVER STORY
In the beginning...
Janet Dignan recalls the early days of IR Magazine
30TH ANNIVERSARY
Stepping up a gear
How has the development of technology shaped IR over the past 30 years? Tim Human reports
30TH ANNIVERSARY
The future of IR
Investor relations associations from around the world share their views on what they believe the future holds for the profession
New strategic plan aligns NIRI with the future of IR
Gary LaBranche, president and CEO of NIRI, outlines the association’s vision for the future
Brexit uncertainty clouds UK future
But Mifid II and ESG are also top of mind for UK IROs, finds Gary Davies, CEO of the IR Society
Changing the way IROs work
Olivier Psaume, chair of Cliff, the French IR association, shares his thoughts on where IR has come from – and where it’s going
Keep on learning to stay ahead of the game
Serena Zuidema, IRO at Signify and board member of Dutch IR body Nevir, on the six areas IROs should watch for the future
Great strides ahead: IR in the Middle East
Andrew Tarbuck, chair of Meira, says IR features strongly in the region’s post-oil era
The view from the continent
Kay Bommer, general manager at German IR association Dirk, imagines a trip to the European Capital Markets Forum 2038
30TH ANNIVERSARY
Starring in alphabetical order...
Whose IR has most impressed over the past three decades? IR Magazine looks at a selection of investor relations stars from the past 30 years
RESEARCH
Global Roadshow Report 2018
The definitive guide to roadshow practices around the world, based on the responses of 750 IR professionals, including rankings of the most-visited cities and the most-used brokers
ESG
Know the score
As ESG issues grow in importance for investors, IROs face an ever-increasing burden from ESG questionnaires. Garnet Roach looks at what can be done to better manage the subsequent workload
DEBT IR
Dealing with debt
Ian Williams talks to IROs and ratings agencies about mutual relationship expectations
REGIONAL FOCUS: NORTH AMERICA
Proxy 2019: Governance trends go global
From compensation to climate risk, diversity to disclosure, Ben Ashwell looks at the issues likely to dominate the 2019 proxy season
REGIONAL FOCUS: EUROPE
Three is the magic number
Three companies took home three gongs each at the IR Magazine Awards – Europe 2018. Garnet Roach reports
Hitting a moving target
Andrew Holt reports from this year’s IR Magazine Think Tank – Europe
The story of winning
Andrew Holt talks to Sergio Gámez, Santander’s global head of shareholders and IR
REGIONAL FOCUS: ASIA
The duel over dual-class shares
Dual-class shares may be a boon for capital markets in Asia, but concerns persist over lapses in governance standards. Andrew Holt reports
CONFERENCES
Feedback from the forums
Highlights from IR Magazine’s female-focused forums in North America
Doing more with less
Ben Ashwell reports from the IR Magazine Forum & Awards – Small Cap US
Paradigm shifts
Highlights from IR Magazine’s second West Coast Think Tank of 2018
Mifid, MAR and ESG
Laurie Havelock reports from the inaugural IR Magazine Think Tank – France
The changing ETF world
Ben Ashwell reports from the IR Magazine Think Tank – Canada
IR comes of age in the Middle East
Oliver Schutzmann reports from the 10th annual Meira conference in Dubai
AWARDS
Calm amid the storm
Laurie Havelock reports from the inaugural IR Magazine Forum & Awards – India
Best of Brazil
Ben Ashwell presents highlights from this year’s IR Magazine Awards – Brazil
All about that ESG
Garnet Roach reports from the IR Magazine Global Forum & Awards 2018
Global Top 50 revealed
New-look top 50 sees 10 firms named best in sector
BUY SIDE
GAM theory
Gill Newton catches up with Ali Miremadi of GAM to talk market cap cut-offs and turning around Rolls-Royce
Regulars:
TECH TALK
New medium
Is it a video? Is it a PDF? No! It’s GraphCall. Garnet Roach reports
CAREERS
Thirty years of IR careers
Garnet Roach presents highlights form the IR30 careers series
Print magazine only
Six month review: Célia d’Everlange of SMCP
Former IR director at Danone discusses what IR has been like in the newly created role at the Paris brand owner. Garnet Roach reports
15 questions with DXB Entertainments
Marwa Gouda is head of investor relations at Dubai-based DXB Entertainments
COMMENT
Gender diversity
Deborah Gilshan of Aberdeen Standard Investments, argues the economic case for gender diversity
IR PAPERS
Winter quiz edition
Empirical evidence from the world of IR, as seen by Jeff Cossette
LAST WORD
Prophets warning
Predicting the future is a precarious business, finds Clare Harrison
