Some are still hoping that investing as they did twenty years ago will get them out of their current problems; I don’t believe it will
INTERVIEW: Meet the Editorial Board: Anna Grebenchtchikova
Marieke de Leede invites Anna Grebenchtchikova as the next participant in this ‘relay interview’. Her reason: Anna is the youngest member in the Editorial Board and we need young people to change our future.
What is your personal motivation to SHIFT TO?
'I believe finance has become obsessed with producing short term figures and therefore focuses on short term goals. This short-sightedness is unlikely to translate into good long-term strategies. As a youngster, and a trustee of a pension fund, I’m naturally interested in the long term. Of course it’s brilliant if your firm has an uptick now as opposed to the next quarter, but how will it fare in five years? Ten years? For the young, focusing only on short term makes little sense – we are interested in the state of the world over the next 50 years.'
How does this fit into your professional ambitions?
'As the youngest pension fund board member ever, I’m often asked to be the voice of the young. As an ‘expert’ I explain about the future of the labour market, and share the view that for young people looking forward, having a pension does not only entail getting a decent sum in our bank account monthly in fifty years’ time - but also that the world, by then, will be stable and sustainable.
SHIFTTO.org will, I hope, switch the perspective most people take on finance – from “which strategy will make this month’s results spike” to “which strategy will make us a stable and sustainable company in the decades to come?”'
In your opinion, where should the financial industry be in seven years’ time?
'The finance industry will hopefully have embraced the changes the internet has brought by then. By that, I not only mean the front end – websites – but also in terms of payment accounts, loans, and currency.
Who should we definitely hear from in this newsroom?
I would love to hear how a tech disrupter would structure finance, having never been a part of the finance industry... How would Steve Jobs have envisioned pensions? How would Satya Nadella structure a payment system? How would Steve Wozniak structure the reporting of company results?'
Which issue is most urgent in your view/field of work?
'My field of work is pensions, and I would say the biggest challenge for pension funds is embracing change. Some are still hoping that investing as they did twenty years ago will get them out of their current problems (being underfunded). I don’t believe it will.'
Extra question from Marieke de Leede: How can we involve more students and young professionals in the network of SHIFT TO?
Anna Grebenchtchikova invites: Keith Ambachtsheer as the next participant of this 'relay interview'. Reason: 'He is the founding father of the shift to long-term investing, and I wonder in which ways he executes the movement from theory to practice.'
And adds one question: 'How can a small (pension) fund contribute to and achieve a shift towards long-term investing?'