Heneg Parthenay has joined Insight Investment as head of insurance. He joins from BNY Mellon Investment Management where he was chief operating officer and head of insurance.
What did you want to be when you grew up?
My ambition was to become an MP, but I decided to join the private sector first to prepare for a transition later. I have enjoyed the preparation phase so much I have never seriously revisited the idea of going into politics.
What was your favourite subject at school and why?
History was my favourite subject. I had a very talented teacher, keen to use any parallel between history and contemporary society to teach us how to become responsible citizens.
What was your first paid role?
When I was a student, I joined the night-shift in a mail sorting office. In addition to the satisfaction of earning my first income, I found it gratifying to be part of such a complex process that connected people to each other, regardless of how remote they actually were. The smartphone era had not yet begun.
What led you to a career in investment?
I started my career building insurance portfolios and quickly realised how material investment returns were to the profitability of the business.
What are your priorities for the new role?
My priority is to bring investment ideas to our clients to help them adjust to their new regulatory regime under Solvency II.
What is the biggest hurdle for institutional investors at present?
Negative yields in some parts of the eurozone present a real challenge. It will require some material adjustments to investment policies if it lasts.
If you could make one change to investment legislation/regulation, what would it be?
I would try to align regulation with the political will to support securitisation markets, especially in the European Union. The current situation where central banks and some politicians publicly support securitisation markets, but where legislators and regulators penalise holdings in securitised instruments for financial institutions feels a bit contradictory. It does not create the level of confidence necessary to enable these markets to support the real economy.
What do you like to do in your spare time?
I enjoy cooking. I still have a bias toward my native French cuisine but it is progressively completed with other influences. I am practicing my Yorkshire pudding skills on a regular basis and I am taking lessons to learn the basics of Indian, Bangladeshi and Pakistani cuisine. Cooking requires rigour and precision, but it also gives a lot of opportunities to be creative and to improvise.
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