Prioritising the team over the title has been a winning game plan for Cosmos Asset Management chief executive Dan Annan.
When Dan Annan left BlackRock, the world’s largest asset manager, to join Aussie challenger BetaShares, it wasn’t the first time he’d taken a punt on a risky bet. And it won’t be the last.
It’s the kind of self-assuredness that comes from knowing who you are. To Ghanaians, the Annan name is revered – one he shares with arguably the nation’s most famous son, former United Nations Secretary General, Kofi, a distant relative. Annan’s paternal uncle was also a senior diplomat representing Ghana on the world stage.
His time as a pro taught him plenty of lessons he would draw on during his subsequent career. “You’re not always going to win, but you always try to achieve that outcome,” Annan says of his mindset both on the pitch and in business. “You could play the best game of your life and still lose the game. The key is you show up and give 110 per cent, no matter the result.”
At AB, the young Annan spent his days penning requests for proposal , which were documents spruiking the firm’s wares to pension funds and big institutional investors. It was the ideal gig to cut his teeth in the complex world of investment management, giving him exposure to portfolio strategy, fund selection, regulatory compliance and marketing.
At a town hall meeting with iShares customers in California, an investor quizzed BlackRock executives about whether they would ever consider a bitcoin ETF. They laughed and said it was an “unregulated asset”, making it a dealbreaker for the multitrillion-dollar giant.
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