TSG Time with Pat and Doug

In Episode 29, Pat and Doug sit down with 2025 Performance & Risk Measurement Hall of Fame inductee, Joe D’Alessandro. Joe is Director of Real Estate Performance Measurement for the National Council of Real Estate Investment Fiduciaries (NCREIF), and is primarily responsible for fund index and attribution products, including the launch of new data products. Joe has over 35 years of industry experience, and he takes us back to where it all started. He reflects on the journey that brought him to where he is today and tells us what induction into the Hall of Fame means to him. In addition to th...

Gerard van Breukelen joins Pat and Doug for Episode 28 of TSG Time. Gerard is a Senior Performance Analyst at Robeco, an asset management company headquartered in the Netherlands. Gerard reflects on the biggest changes he's witnessed in the industry over the past three decades and shares his outlook on where we're headed. Ten years ago, Gerard and Bas Leerink received the Dietz Award for their article, "Multi-Period Performance Attribution: Framework for an Allocation Effect Taking Active Weight Drift Into Account." Gerard shares some of the key insights from the article and talks about his writing process.  He also discusses t...

Ashley Reeves joins Pat and Doug for Episode 27 of TSG Time. Ashley is a Senior Vice President and Senior GIPS verifier at TSG, and she regularly conducts GIPS and non-GIPS verifications, as well as GIPS examinations. She shares some of the most surprising experiences she's had as a verifier, her top recommendation for clients, and the most rewarding moments of her career so far. “I really like mentoring my newer colleagues when they join. We have a lot of very experienced people on our team, but they might not have been experienced in verification, so I really like sharing my...

In Episode 26, Pat and Doug interview Lance Dial, a partner and member of the Asset Management and Investment Funds practice at K&L Gates. Lance has experience advising asset managers and broker-dealers in all areas of the business. At the PMAR Conference this May, Lance will be on an SEC Marketing panel, and he provides us with a sneak peek of the the presentation. He gives us a snapshot of a day in his life as an investment performance lawyer. "The great thing about what I do is it's always unexpected. There are so many different things that I...

Michael Margulis joins Pat and Doug for Episode 25 of TSG Time. Michael manages the broker-dealer performance reporting team at Ameriprise Financial, responsible for maintaining the infrastructure to support the presentation of invest­ment performance to approximately 10,000 financial advisors and millions of mostly retail clients. He reflects on the most significant industry change he's witnessed over the past 25 years, shares the most valuable experiences of his career so far, and offers advice to those beginning their careers in performance. A member of the Data Quality Working Group, Michaels gives us a summary of the work the group did. "I was o...

Jennifer Barnette joins Pat and Doug for Episode 24 of TSG Time. Jennifer is Senior Vice President at TSG and a member of our Verification Dream Team. Jen discusses some of the biggest surprises she's experienced as a verifier and the challenges that she's overcome since taking on this position. She tells us what she likes most about her career, shares the number one recommendation she gives clients, and talks about what she's most excited about in the years to come. "I would say artificial intelligence. I'm most excited to see how that transforms not only performance measurement and reporting...

In Episode 23, Pat and Doug sit down with Chi Tu. Chi is a senior manager at UC Investments, responsible for performance and reporting, and he has over 20 years of experience in the industry. UC Investments recently became GIPS® compliant, and Chi discusses the verification process and provides advice to firms that are considering compliance with GIPS. He talks about his most influential mentors, the challenges he foresees in the industry, and how the field of performance has evolved since the start of his career. “It went from quarterly, monthly, and now to daily, and I think that is huge. Bef...

Debi Rossi joins Pat and Doug for Episode 22 of TSG Time. Debi is President of Kyza Performance Consulting, LLC, and she has over 25 years of experience in the performance measurement industry. Debi tells us about what inspired her to start her own business and discusses the biggest challenge she faced when she became an external consultant after working for an investment manager. At this year's PMAR Conference, Debi and Christine Iannacone of Prudential gave a presentation on "Essential Skillsets of the Performance Professional," and Debi shares some of the key points and takeaways from the discussion. "The next part...

Matt Swan sits down with Pat and Doug for Episode 21 of TSG Time. Matt is Senior Director of Performance Measurement and Analytics at the Investment Management Corporation of Canada (IMCO), and he serves as 1st Vice-Chair of the Canadian Investment Performance Council (CIPC). He talks about his journey at IMCO and the process of building and leading a strong performance team. “Institutional investors are hungry for analytics to support their investment decision-making process, and building a team that’s constantly enhancing the offering and always improving the stakeholder experience is the key to our success.” He discusses his involvement with t...

John Longo joins us for Episode 20 of TSG Time. Dr. Longo is a Distinguished Professor of Finance & Economics at Rutgers Business School and Chief Investment Officer and Portfolio Manager at Beacon Trust. John co-authored Buffett’s Tips: A Guide to Financial Literacy, and he discusses how he came up with the idea for the book, the writing process, and the experience of writing a book with his son, Tyler. John talks about the trips he’s gone on with Rutgers students to meet Warren Buffett in Omaha, Nebraska. “For many years, Buffett met with students on a Friday afternoon, roughl...

Nicholas Mirlocca joins us for Episode 19 of TSG Time. Nick is the Senior Product Manager for GIPS® at FactSet. He discusses FactSet's GIPS solution, the hurdles firms face on their way to compliance, and the impact outsourcing will have on GIPS professionals. "That additional level of validation needs to happen. If you're relying on a third party to send you your performance after they've done the operations and closed the books, you can't just lean on that. The performance team and the validation process are still key." He also talks about the latest trends in performance and provides advice t...

Cynthia Shaw-Pereira joins us for Episode 18 of TSG Time. Cynthia is Vice President and Head of Asset Owner Solutions at CIBC Mellon. She’s responsible for establishing strategic priorities for her firm’s asset owner segment and services for institutional investors active in the Canadian Market. A 2024 recipient of the Outstanding Women in Performance & Risk Measurement award, Cynthia tells us what the award means to her and reflects on her experiences in the industry.  Cynthia was part of the “Performance Challenges with Private Equity” panel at the PMAR Conference in May and she provides us with a summary and key point...

Theo Bell joins Pat and Doug for Episode 17 of TSG Time. Theo is Head of AI Product at Rimes Technologies where she leads the company’s efforts to leverage AI technology in order to provide cutting-edge data management solutions to clients. Theo talks about the challenges facing the asset management industry and the ways that AI can help with productivity, personalization, and private market data. "From the productivity side, I think there's a lot in terms of sales and marketing, so you can generate content like white papers, summarize content for social media, and analyze public data about your cl...

John D. Simpson sits down with Pat and Doug for Episode 16 of TSG Time. John has been in the performance industry since 1985, and he currently heads up TSG’s Global Investment Performance Standards (GIPS®) practice. He is also TSG's Chief Verification Officer (CVO) and discusses how this unique role sets TSG apart. John talks about his favorite PMAR memory, Performance Jeopardy, the importance of the CIPM designation, and what he likes most about his career in performance measurement. "Our industry is rapidly evolving, so there's always something new to learn. And again, I come back to the people as wel...

In Episode 15, Pat and Doug sit down with Frances Barney.  Frances is the Head of Global Risk Solutions and Institutional Accounting Operations within BNY Mellon Asset Servicing, and a 2018 recipient of TSG's Women in Performance & Risk Measurement award. This May at the PMAR (Performance Measurement, Attribution, and Risk) conference, Frances will be participating in a panel on methods and styles of client reporting, and she gives us a sneak peek at the topic. She shares her favorite PMAR memory and some key takeaways from last year's Women in Performance Measurement (Wipm) in-person event. "There's such a strong desire to c...

In Episode 14, Pat and Doug interview Chris Lourens of Solve Consulting. Chris has a 30-year tenure in the financial markets, and over 24 years of involvement in the GIPS® standards. Last year, Chris participated in a webinar with David Spaulding titled “The GIPS Standards and The South African Market: What You Need to Know,” and he shares some of the key takeaways from that event. He discusses GIPS myths, the GIPS Compliance Thinktank, and the benefits of compliance for asset owners. "But I honestly believe that even from an asset owner point of view, the value they get out of imple...

Arun Muralidhar sits down with Pat and Doug for Episode 13. Arun is Co-Founder of Mcube Investment Technologies LLC, and Co-Founder and Client CIO of AlphaEngine Global Investment Solutions.  In 2016, Arun won the Dietz Award for his article “Attribution Hears a Who! The Case for Decision Maker-Based Attribution.” He talks about how he came up with the idea for this article during a conversation at a conference dinner in the Netherlands. “By the next morning, I had a draft of the paper, so sometimes, it’s just pure luck that you happen to sit next to somebody, and that’s why confere...

Melissa Ahern joins us for our first episode of 2024! Melissa is product manager for performance & analytics, including asset owner private market services at State Street, and she has over 20 years of experience in the performance industry. She shares her performance measurement origin story with us and talks about the importance of the CIPM exam for those beginning their performance journey. Melissa discusses the future of ESG, the Performance Measurement Forum, and how asset owners benefit from GIPS compliance. "I think being confident in the data that's being reported is certainly a benefit, and knowing that best practices are being...

In the final episode of the year, Pat and Doug sit down with Alex Serman. Alex has been with First Rate for seven years and is currently a managing director responsible for the strategic direction and growth of the Wealth Bank/Trust and Institutional markets. Alex attended the Performance Measurement Forum meeting in Porto, Portugal in November where he presented a topic on artificial intelligence. He shares some of the key takeaways with us, including when AI is coming, the risks, and the impact. "So, like any other tool, depending on how you use it, it could be good...

Irina Almeida joins Pat and Doug for Episode 10 of TSG Time. Irina is a Principal at Mercer where she leads the European Investment Performance Monitoring Team. She discusses her preparation process for the CIPM exam, provides advice for those planning to take the exam, and talks about what she likes most about performance measurement. "You deal with so many people, within your company and outside your company. I think it's a profession that actually creates bridges. Being with clients, being with colleagues from the company, so it allows us to have this broader perspective of the investment world and...

In this episode of TSG Time, Pat and Doug interview Claude Giguère. Claude is the CEO and Co-Founder of Robust Technologies, an industry leader in investment performance software. He has 35 years of experience in performance measurement and was inducted into the Performance & Risk Measurement Hall of Fame in 2020. Claude talks about how he developed his passion for performance early on in his career and provides advice to entrepreneurs. "Believe in your abilities, don't shy away from doing difficult things."  Claude, who spearheaded TSG's Data Quality Working Group,  discusses his upcoming article based on the group's findings. In the lig...

Diane Robertson joins Pat and Doug for Episode 8 of TSG Time. Diane is Vice President, Head of Global Performance, Analytics, and Reporting at T. Rowe Price. She has 25 years of experience in the financial industry and is a 2022 recipient of TSG's Outstanding Women in Performance & Risk Measurement award. At PMAR 2023, Diane was a part of our "Talent Recruitment and Retention" panel. She shares some of the key takeaways from that discussion. She talks about the inaugural Women in Performance Measurement (Wipm) meeting and the group's future plans. “It’s a unique experience for women to be able to come into...

Pat and Doug sit down with Elske van de Burgt for Episode 7 of TSG Time.  Elske has been with Ortec Finance for over 25 years and is the managing director of the Investment Performance group. She discusses a second position she's recently taken on managing the climate and ESG team. Elske talks about the 2002 Dietz Award-winning article, “Decision-based Evaluation of the Performance of a Hierarchically Structured Investment Process,” which she co-authored with Jeroen Geenen, Marc Heemskerk, and Michiel Heerema, and provides some information on her upcoming speaking engagements and her research process. In the lightning round, Elske touches on overcoming fears...

James Cardamone of FactSet joins Pat and Doug for Episode 6 and discusses his recent article, “Measurable Ways for Performance Teams to Add Value in ESG Investing,” which was published in the Winter 2022/2023 issue of The Journal of Performance Measurement. James talks about ESG composite scoring and the considerations that go into constructing one,  as well as the use of carbon analytics in performance style reports. James also touches on modern classical music and the most meaningful book he’s ever read, “The Art of Happiness.”

Connect with James, https://www.linkedin.com/in/james-cardamone-5b663814/.

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Doug interviews Pat in this bonus episode of TSG Time. Pat celebrated his 25th anniversary at TSG in June. In this episode, he shares some of the highlights of his career, discusses how the company became the leader in the performance and risk measurement conference space, and tells us why Dublin, Ireland is his favorite place to visit with TSG. The Performance Measurement Forum recently held its 100th meeting in the US and 101st meeting in Europe, and Pat, who has overseen the group from the beginning, contrasts the US and EMEA Forums. In the lightning round, he touches...

In Episode 5, Susan Agbenoto of Opus Investment Management joins Pat and Doug and discusses the overarching blocks of performance in GIPS compliance. She shares highlights from the inaugural Women in Performance Measurement event, which was held on May 23rd in New Brunswick, NJ, and talks about increased opportunities for women in the field. During the lightning round, Susan tells us where she would go if she could travel back in time, and ends with a snapshot of an ordinary moment that brings her great joy.

Connect with Susan, https://www.linkedin.com/in/susan-agbenoto-cipm-3b3b7256/
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In this episode, Pat and Doug sit down with Stephen Campisi of The Pensar Group to discuss his recent Journal article, "Evaluating Benchmark Misfit Risk" as well as his upcoming PMAR presentation based on that article, and his current research topic on the role of passive investments in asset owner portfolios.  He talks about how performance analysts can gain a greater presence, and shares his thoughts on the direction of the performance function. Steve, who is a classically trained musician, also discusses the correlation between math and music. 

"Evaluating Benchmark Misfit Risk" was published in the Fall 2022  iss...

Carl Bacon of Confluence joins us for Episode 3 and discusses the 3rd edition of his book, Practical Portfolio Performance Measurement and Attribution (Wiley, 2022). He goes over some of the changes and additions that readers can expect to see in this edition, including a new, massive chapter on attribution and an expanded chapter on risk. The book also features a section on the asset management industry and covers the GIPS® 2020 revisions. He talks about his preference for geometric attribution, his love of space opera, and tells us about his favorite football team, the New England Patriots, and how he became a...

In episode 2 of TSG Time, Pat and Doug interview Dan diBartolomeo, president and founder of Northfield Information Services, Inc. Dan discusses his upcoming PMAR conference presentation and Journal article, “Performance Evaluation and Risk When Returns Aren’t Normally Distributed," and touches on his research and writing process. He talks about his analytical work that helped uncover the Madoff investment fraud, provides solid advice to those starting out in the investment industry, and shares the story of his dog's encounter with a bear.

In our first episode, Pat and Doug sit down with the founder and CEO of TSG, David D. Spaulding, DPS, CIPM to discuss his career in performance measurement, the growth of the industry, his passion for performance, and his thoughts on the new SEC marketing rule.

Dave shares his favorite Performance Measurement Forum moment and city, and talks about the differences between the US and European Forums. We conclude the interview with a lightning round of questions.