Money Maze Podcast

Moreover, if executed well, it offers the potential to act with a long-term horizon as true asset owners, and to unlock investment opportunities that individual funds might struggle to access alone. 
Today in the UK, one of the most consequential organisations in UK pensions, is Border to Coast. They sit at the centre of one of the most significant shifts in UK institutional investing in a generation, and as of April 2026, will oversee nearly £120bn of local authority assets.   
Rachel Elwell explains their investment approach, the motivation behind the merged pools and the advantages scale offers. Specifically, she discusses insourcing versus outsourcing, passive v active, where and why, UK v global, and the role of private assets, fees, as well as why Leeds is such a great place to live and work. 
The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.

We have had some extremely distinguished guests over the last 6 years, but we haven’t secured one who combines, a Rhodes Scholar, US Army Colonel, Counter terrorism expert, leading the US’s cyber intelligence defence agency, and a lecturer at Oxford and beyond, whilst also having worked at Morgan Stanley, and now CEO at RSAC. 
Jen plots a journey from Oxford to Westpoint, from Colonel of the US’s first Cyber Battalion to the Whitehouse, working under Condoleezza Rice and then chosen by President Biden to create CISA, The US’s first cyber defense agency.
In a whirlwind, world-wide tour, Jen plots the risks, defines the adversaries, reflects on intelligence, cooperation, and the real and present cyber risks to industries.
She offers advice to boards, the existential risks for businesses who think this is just a “technology issue” and leaves us with a stark observation. If the cost of annual cybercrimes were aggregated into one number, it would be equivalent in GDP terms to being the third largest economy in the world!
The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.
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A first! For the first time since our inception 6 years ago, we welcome back a guest for their third visit. General David Petraeus, once described by Simon Sebag Montefiore as the ultimate soldier-scholar, is Chairman of the KKR Global Institute. 
Prior to this, David had a distinguished US military career and was the CIA Director during the Obama administration. 
He assesses the heat map of geopolitical and military tensions which is glowing red. Starting with the Indo-Pacific he assesses President Xi’s removal of his top Generals, what this might mean, and why peace must prevail despite the undercurrent of tensions.
Having returned recently from Ukraine, he then gives some fresh perspectives which challenge stale narratives and describes the immense scale of loss of Russian lives and the technological prowess of Ukraine manufacturing and know-how.
He then weights Iran’s options; the US’s potential moves and the perspective of other Middle Eastern nations.  Finally he offers advice for leaders in an environment where “just in time” has morphed into “just in case”.
The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.
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While women leaders in finance are gradually becoming more common, that cannot be said the alternatives industry. 
But as traditional investment firms increasingly acquire alternatives and private markets firms, their leaders, styles and backgrounds are experiencing a changing topography. 
One of those to have been instrumental in helping build some well-known alts firms, from GLG to Moore Capital and now MCQS, is their President and CEO, Soraya Chabarek.
Soraya discusses the characteristics of some of the top hedge fund performers, the egos and enigmas, females in finance, the art of selling, and how she helped reposition CQS from a hedge fund manager into an alternative credit platform.  
She gives her view on where the risks and opportunities lie in today’s credit market, how founder-led firms scale beyond star culture, and on resilience, grit, and what she looks for in a hire.
The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.
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Emerging Markets, once the darling of the asset allocators world, have found themselves increasingly discarded by those same allocators. 
Such became the re-allocation away from them and the magnetism of the US & its technology companies, that as recently as the end of 2024, Emerging Markets were at a 50 year low, relative to the S&P 500. 
With some improved relative performance, it may be asked if this is a flicker, or are we at the foothills of a bigger reallocation? East Capital’s CEO, Peter Håkansson, discusses the opportunities, the lessons drawn from researching them for 3 decades, and what the drop in EM Government bond yields might be signalling. 
He explains why no central heating might indicate corporate failure ahead, which fundamentals matter, and why they prefer to take their bets in company position sizing, rather than in the country weights. 
He also discusses Frontier markets, the impact of foreign exchange and as a music lover he is, “reasons to be cheerful!” (Ian Dury & the Blockheads)
The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.
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