YouSaid · the spoken record

Christine Hurtsellers

lines on the record: 61
first: 2021-07-09
most recent: 2021-07-09
sittings or episodes: 1
sources: podcast

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“We also have a private equity business that focuses on what we call secondaries. So think about buying secondary private equity investments in the marketplace at a very attractive kind of going in investment level. So when you think about those things, Barry, those really are opportunities where, yes, you don't necessarily call Voya tomorrow and say, please liquidate my real estate or my private equity portfolio. But if you're patient and you have a long run business strategy, these can be some great opportunities to enhance your yield and your return.”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Really, it's, as you say, it's just that dialogue with the clients in terms of do they have specific liquidity needs in point in time that they're looking to us to help them deliver? Do a lot of the specifically some of these clients more and more are asking how can I get yield and maybe not need as much liquidity? So when you think about the markets today and really the growth of private markets, I think that a lot of institutions are waking up and saying, is liquidity necessarily as necessary, meaning that they can quickly liquidate their bond portfolios within a few days? Or do I actually have opportunities in my business model where I can have long-term investments and tuck it away? So when you think about that and what we can do across FOIA, private credit could be a great example.”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Markets have done well, so many of the pension funds are saying, wow, I want to do what I call immunize and actually move my overall pension funds that I have as a corporation into more of a fixed income laddered bond portfolio. So that's essentially what's happening. And yet that fixed income laddered bond portfolio, there aren't a lot of corporate issuers out there. So you end up taking trading equity volatility for concentrated credit risks. So what do we do? We actually blend in private credit with public bonds for those clients to offer them a unique solution where they can diversify some of the exposure to the companies that they're invested in. So that would just be one small example of how do we customize something to help our clients come up with a better solution.”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, you know, we have a variety of clients, but on the institutional side specifically, when you think about insurance companies or some of the pension funds, they have unique liabilities that they're managing assets against. So they need somebody that's going to engage them. And then plus, when you look at the context of the market and where the equity markets are and all the liquidity in the world, more and more clients are nervous about yields being so low and where can I really put things in terms of what asset classes offer great returns. And so what does customization look like? Let's just take a somewhat simple example in the fixed income market. And so there's a product or a trend called LDI or liability sort of immunizing liabilities for pension funds, right? And so as the equity”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“billion to a trillion are just going to go away right the industry is consolidating but at the end of the day I just don't think clients want to wake up and just have a few select partners where they're gigantic and that customization and that high touch isn't really available and over half of our assets that we manage barrier what we call customized meaning the client has specific needs that they need it's not just to what we call a generic benchmark in the marketplace so again that that's our brand that's our value and it's really resonating with clients and so we're growing as a company you know despite the rhetoric around the difficulty to compete and the trillion dollar club”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, you know, Voya overall, you're absolutely right, Barry. We are one of the largest companies that work with defined contribution plans and managing them for employers and really having good tools really to engage employees and to help them save. And so I would say, though, as you say, Voya, you know, we call ourselves small but mighty as a company. We've got a great brand recognition and our brand is really only, as VOAA, only about, I want to say, seven years old at this point. And yet, you know, our brand recognition is very attached to retirement. So going back overall, like how do we do this?”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, it has, and a lot of the momentum that we continue to see just based on where yields are in the world and what's going on really are in some of those more private asset classes that we manage. So think commercial real estate or actually what we call private credit, meaning issuers that don't come to a public credit market. And we have a very strong business there. So as a result, as people continue to struggle with, where am I going to put my money? I'm uncertain. You know, the yields are really low. We tend to see quite a bit of demand in those assets that we manage.”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Clients and really walking them through. We did tons of webinars, talked about what was working, what was not, what was in the portfolio, what were we doing, and what were our views. And we got the feedback from clients. Hey, not all asset managers are doing that, right? But at the end of the day, we're in the trust business. It's their money we're managing, and we want to be that trusted partner. So how you behave and how your people rally together in times of stress, those are moments in life and in careers that truly define you. So couldn't be prouder of the team as we work through 2020 to push ahead through a lot of uncertainty.”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Wow. Well, it's no very, I mean, last year just started out in such a crazy fashion. And I would say that Voya did so well, I mean, number one, you know, we have great customer relationships and really differentiated products so much today. People are talking about alternatives in private markets and $70 billion of the assets that we manage are in that category. So number one, we certainly have great products that our clients want, but more importantly, you know, was really leveraging our culture into a period of real uncertainty. I mean, as you recall, the market's just completely froze in the spring. And so what did we do as things just got so disconnected? It was leveraging the culture of just being transparent and talking to our”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Skills that you develop early in your career. So, really, it was a pretty natural move, but I will tell you, Barry, the one thing that I really miss is my, I miss being in the markets for sure. I mean, just the joy of being with an investment team. That isn't my day job anymore. But again, I love strategy, love working with people, and so I think it's just a wonderful role for anybody to have.”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Very, you know, in some respects, those different skills, but in a lot of ways, very similar skills. And so what in the world do I mean by that? You know, a lot of what you need in the role of CEO is good strategic thinking. So really being able to think about where are the markets, where's the business going out three to five years from now. And so I've been an investor most of my career. So when you think about strategic thinking and reading the markets and opportunities, there's a lot of similarity there, as well as you have to have a team approach, really have good intuition and figure out how are we going to set a strategy, how are we going to get people excited and really moving in this direction. And so what they call EQ, that emotional intelligence, the more senior you become over time, the more important that actually is and less so pure technical.”
2021-07-09 · Masters in Business · Christine Hurtsellers on the Business of Trust (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source