What do you get when you assemble a group of city heavyweights with a celebrated track record in pensions and institutional investment?
For Alexandra Noble, co-founder and director at City Noble, the answer is a solid business plan for an independent advisory business, with a focus on investment and governance.
Founded last year, and launched late last month, City Noble aims to deliver independent and impartial advice to trustees and institutional investors.
Insight, independence and integrity is the catchline of the new advisory service, according to Ms Noble, adding: “I was inspired to create the company after hearing that many trustees felt they were not being fully supported by their consultants. We wish to offer independent advice and want to help trustees improve their decision-making.”
The firm is owned by its seven founding directors who already advise clients with more than £80bn under management.
Its founding directors include Paul Craven, a former managing director at Goldman Sachs Asset Management, Eamonn O’Connor, who has held a number of board positions at Gissings and SBJ Benefit Consultants, and Ian Maybury who serves as an independent trustee for Unilever.
Having a significant number of seasoned industry brains on the board of directors is a recipe for success, according to Ms Noble, who said there are plans to add even more industry experts onto the board in the future.
“They are a fantastic group of people. They are all very open to listening to each other’s points of view, which is really important. I believe we are all good at listening to each other in the boardroom, and each of us is willing to change his or her views if justly challenged,” she said.
An illustrious career in finance was not necessarily on the cards for Ms Noble, after graduating from London Metropolitan University with a degree in business studies.
“When I left college, I did not know what I wanted to do,” she said. “My bank manager at the time said I must go and work in a bank, and I thought, ‘you must be joking.’”
Ms Noble is now a veteran in the industry. Gartmore, Bankers Trust, Edinburgh Fund Managers and Standard Chartered Bank are just a handful of the institutions Ms Noble has worked for during her tenure as an international fixed-income fund manager, spanning three decades.
She took a hiatus from finance in 1994 to become the managing director of publishing company Trinity Square, which was acquired by her husband’s telecoms company. She re-entered the fray in 1997 after Trinity was sold, and returned to her role as director of Noble & Associates.
“Running my own publishing firm was an enjoyable and extremely positive experience – it gave me a different perspective on things.”
She added: “However, the city is like a bug – when you are used to being part of an active marketplace, it is very difficult to step away from it.”
Pensions have undergone a significant amount of changes thanks to the newly implemented measures initially announced by George Osborne in 2014.
There have been grumbles from industry experts over the lack of new products to cater for pensioners in the post-pension freedoms environment.
According to Ms Noble, there is a greater need for better distribution and education of products than there is for more innovation when it comes to offering products to pensioners.
She said: “The industry is very good at using all sorts of buzzwords that are not necessarily meaningful and are confusing. We need to be able to discuss and translate the complex details of pension products in plain English.
“With the advancement in technology and the internet, people are becoming more engaged and educated in the choices they make.”
There is a rising sentiment within the industry that pensions should be divorced from politics, such as in the build-up to the recent general election, to protect it from short-term political point-scoring.
Ms Noble said that although there might be some truth behind pensions being used for political gain, there is merit in keeping the sector under government control – given the malpractice which in recent years has been well-documented in the financial industry.
A lot could also be said about the transparency of funds – or lack thereof.
Ms Noble said: “Everything has to be as transparent as possible, although I acknowledge that it can be difficult to have regular short-term information flow.
“I think fund managers will be put under a lot more pressure. A lot of data is available to investors, but it is currently not being disseminated in a like-for-like manner to trustees which can be confusing.”
Outside her job, Ms Noble relaxes by listening to classical music, cooking, entertaining and enjoying a simpler existence at her other home in France.
But what does she like most about her role?
She said: “I find it really exciting being surrounded by some really bright individuals who have interesting ideas. I also like learning from the younger contenders, who often have a different angle on things.”
Alexandra Noble’s career ladder
2014-present
Founder and director,
City Noble Limited
2013-present
External adviser,
RCN Foundation Benevolent fund
2004-present
Director,
The Oplan Foundation
1994-present
Director,
Noble & Associates Ltd
2012-2014
Senior adviser and business development director,
AllenbridgeEpic Investment Solutions LLP
2010-2011
Trustee,
Charity Employees Benevolent fund
2007-2008
Consultant,
InsightSearch Ltd
1994-1997
Managing director,
Trinity Square Ltd
1988-1992
Director,
Standard Chartered Equitor
1986-1988
Fixed income portfolio manager,
Lazard
1984-1986
Fixed income portfolio manager,
Edinburgh Fund Managers
1978-1983
Head of international fixed income,
Bankers Trust Investment Management
1976–1978
Fixed income portfolio manager,
Gartmore
