I wanted medicine but found myself in financial services

Esther Ugwu is the managing director of Anchoria. Prior to this position, she served as the executive director of business development and investor relations at Anchoria Asset Management, where she was instrumental in shaping and executing the firm’s growth strategy, leading capital-raising efforts and strengthening relationships with institutional and high-net worth investors.

In this interview during the first edition of The Quorum held by Anchoria with the theme “Positioning for Growth: Investment Opportunities In a Changing Market,” the young, amiable MD spoke with Sunday Sun about her career, Anchoria’s operations and unfolding trends in investment.

What is the essence of today’s lecture?

We are gathered here today to invite key stakeholders, clients, prospects and everybody

at large to understand that inquiry asset management is an investment management business. What we largely do is to help investors build, create and preserve their wealth. So, we’re gathered here today to let our clients know that, even while we’re helping you build your wealth, there are other opportunities in the market that we think will help you grow that wealth and then build over time.

Do you know what it feels like when you’re spending your interest and you know that the capital that you have is still there, not in a stock? So, I also wanted to create that value, because when you see the joy on the faces of investors, when you tell them that this is what this money that you gave me, this is what has returned, that joy on their faces also is some motivating factor for me to continue in this business and to spread the word: you should not only save, you should also start investing to get on top.

Where did you work before Anchoria?

I worked as a relationship manager at Chapel Hill Denham, one of Nigeria’s foremost investment banks, where I managed key client portfolios and facilitated tailored investment solutions. My earlier experience included roles within the bonds unit at UBA Trustees, where I supported fixed income portfolio structuring and compliance; and team lead, customer service, at United Capital Plc, where I led client engagement initiatives and service delivery excellence. Also, I began my career in financial services as an investment advisor at AIICO Capital Limited, where I developed a strong foundation in investment product distribution and client acquisition.

What did you study in school?

I read chemistry. I earned a Bachelor of Science in Chemistry from Lagos State University and an MBA from Obafemi Awolowo University, with a focus on business strategy and financial management.

From Chemistry to banking, how did the journey start?

I studied chemistry but, along the line, I interned at the bank and that’s where my financial services career started. So, from the bank, I worked at United Capital; then I went to AIICO Capital. From AIICO Capital, I moved to Chapel Hill Denham and, here, fully into Anchoria asset management.

There must have been something that made you become a banker. Could you tell us?

One key reason was that I wanted to first of all understand financial services. When you’re in the bank, you’re not just managing money, you understand the flow. You also think about how you can create value in helping people do this. I started my career in operations, understanding the business, how businesses are run and how banking operations are run. Going from there, I moved into active investment management. So, when you’re in financial services, you’re not just thinking about money, you’re sending that money on an errand and then it brings returns. That’s one thing. I wanted to understand the flow of money, how money works and, essentially, how to build it, moving from building to creating wealth. If you really want to understand money, you understand that money is not just about spending. That was what inspired me to move into financial services.

Where did you grow up?

I grew up in Lagos. I attended Federal Government College, Ijanikin, Lagos. So, all these years, I’ve worked in Lagos.

Growing up, who influenced you the most – your dad, your mum or someone else you looked up to?

My mum. My mum influenced me, really. She greatly influenced me. I wanted to read medicine in the university. I wanted to read medicine but, along the line, I found myself in financial services. So, in terms of influence, my mum influenced me the most

What’s your kind of fashion?

My kind of fashion is conservative with style.

I like to do things differently. I don’t like to wear things that other people wear. I have an eye for details. So, there are some things that I would pick that other people might not like. But there’s one unique thing there that might have caught my attention. So, I’m a very conservative dresser, but uniquely conservative. I also like to do some vintage pieces.

You look rather young, so how do you cope while managing your older staff?

Largely, you need to have emotional intelligence. Because, sometimes, you walk in rooms and people say, is it this small person? But what happens when they listen to you speak? Even in your industry, where you work, you need to have experience. You need to have knowledge of what you’re doing, a service you’re rendering.

So, when you enter a room where you’re speaking to people and you’re coming from a

knowledge standpoint, I think that will also build that respect for you in terms of how you’re managing and how you’re leading people. And you understand that even leadership is an act of service. So, if you see it that way, as a leader, you’re leading from the front; when you now tell people to do something, you give them the drive to do it. If they see that you’re leading from the front, it won’t be that difficult for people to follow. I see leadership as an act of service and also pushing people to deliver.

What’s your favourite destination in terms of travel?

I love Paris. I like their culture, I like their style, I just like how calm they are. I also love their style and I like how they smell.