In the fast-evolving landscape of wealth and investment management, the intersection of diversity and disruptive innovation is becoming an undeniable catalyst for success. As the industry grapples with the need for innovation and inclusivity, embracing diversity as a driver of disruptive change has emerged as a crucial imperative for organisations seeking a competitive edge.
Catherine Wood, CEO & CIO, Ark INVEST, a visionary leader and tireless advocate for diversity and disruptive innovation. She has redefined traditional notions of leadership, challenging the status quo and pushing boundaries. She joined us ahead of her joined us ahead of her presentation at IMpower 2023, to discuss her being nominated our Women Mean Business CEO of the year, how she stepped away from the norm to build a successful business and why diversity is critical for a successful company.
You have been nominated our Women Mean Business CEO of the year because you are a tremendous example of someone not afraid of stepping outside the norm, doing something differently and being very successful at it - why did you did step out of a traditional organisation and do this?
Thank you for the honour of being nominated as Women Mean Business CEO of the year. My decision to step out of a traditional organisation and create ARK Invest was driven by several factors:
- Passion for innovation: I have always been fascinated by breakthrough technologies and their potential to transform and improve our lives. I realised that traditional investment organisations often struggled to recognise and capitalise on these disruptive innovations, so I decided to establish a firm dedicated to identifying and investing in companies driving transformative change.
- Desire for independence and impact: By stepping outside the norm and founding ARK Invest, I was able to create an organisation that reflected my values and vision for the future. This independence allowed me to build a unique investment strategy and culture that prioritises disruptive innovation and embraces transparency and collaboration.
- Filling a gap in the market: I recognised that there was a need for an investment firm that focused on long-term thematic investing and the convergence of technologies. By stepping out of the traditional framework, I could address this gap in the market and provide investors with a new way of approaching investment opportunities. I wanted to create a research team focused on technologies and understanding the convergence around those very technologies, which we believe will drive “super exponential” growth potential.
- Embracing diversity and inclusion: I wanted to create an organisation that valued diverse perspectives and fostered an inclusive environment. By doing so, we've been able to assemble a team of analysts with expertise in various fields, which has greatly contributed to our success in identifying innovative companies and investment opportunities.
Ultimately, my decision to step out of a traditional organisation and create ARK Invest was driven by my passion for innovation, my desire to fulfil an unmet need in asset management, and my belief in the power of diverse perspectives to drive growth and success.
From a leadership perspective what was the most significant change that you made from the way traditional investment management businesses are run?
As the founder and CEO/CIO of ARK Invest, I believe the most significant change we made in comparison to traditional investment management businesses is our focus on disruptive innovation and an open research ecosystem. We concentrate on investing in companies that are developing game-changing technologies, which often go unnoticed or misunderstood by traditional Wall Street analysts.
The reason they are misunderstood in terms of scope and scale is because the technologies are scaling across sectors and with each other, suggesting that the traditional models of research in asset management are not set up correctly to understand the scale, scope, and potential for these technologies.
To foster this innovative approach, we've created a culture of transparency and collaboration. Our research is open source, which means we share our insights, ideas, and analysis with the public. This openness not only helps us create a robust feedback loop with various experts and enthusiasts but also holds us accountable to the decisions we make.
Additionally, we've embraced a multi-disciplinary approach, assembling a diverse team of analysts with expertise in various fields, such as multiomics, robotics, energy storage, and artificial intelligence and blockchain. This helps us identify and understand the convergence of various technologies, which often leads to ground-breaking innovations that deliver “super exponential” growth potential.
By focusing on disruptive innovation, fostering an open research ecosystem, and encouraging collaboration across disciplines, we've been able to create a unique approach to investment management that sets ARK Invest apart from traditional investment firms.
Ark Invest has been spectacularly successful – to what do you attribute this success?
Our success at ARK Invest can be attributed to a combination of factors, which I believe sets us apart from other investment management firms:
- Sole focus on disruptive innovation: We concentrate on identifying and investing in companies that are leading transformative technologies and have the potential to disrupt. By staying ahead of the curve, we believe we’re positioned to capture the exponential growth that these companies can experience.
- Thematic investing: Our investment approach is based on identifying long-term trends and themes that we believe will shape the future. This allows us to invest in companies that are well-positioned to capitalise on these trends, rather than just focusing on short-term market fluctuations.
- Open research ecosystem: We maintain a transparent and collaborative research process, which involves sharing our insights, ideas, and analysis with the public. This not only helps us gather valuable feedback from various experts and enthusiasts, but also holds us accountable to our investment decisions.
- Multi-disciplinary approach: Our diverse team of analysts come from various backgrounds and possess expertise in fields like blockchain, multiomics, robotics, energy storage, and artificial intelligence. This helps us to identify and understand the convergence of multiple technologies, that may lead to ground-breaking innovations.
- Active portfolio management: We constantly monitor and adjust our portfolio based on new research findings, market dynamics, and company developments. This active management style allows us to respond effectively to changes in the landscape and take advantage of emerging opportunities.
- Long-term perspective: At ARK, we have a long-term investment horizon, which enables us to look beyond short-term market fluctuations and focus on the transformative potential of the companies we invest in.
By staying true to these principles, we have been able to achieve the success that ARK Invest is known for today.
You made the move quite late in your career, what is your advice to other talented women in the later stages of their careers?
My advice to other talented women in the later stages of their careers is:
- If you are going to start a business, look for an opportunity to fulfil an unmet need.
- Believe in yourself and your capabilities: It's important to have confidence in your skills and expertise, regardless of your career stage. Age and experience can be valuable assets, so don't be afraid to leverage them. Trust in your abilities to make a positive impact and pursue new opportunities that align with your passions and goals.
- Embrace change and continuous learning: The world is constantly evolving, and it's crucial to adapt and stay up-to-date with new developments, technologies, and trends in your field. Be open to learning new skills, acquiring new knowledge, and expanding your horizons. This will not only make you a more valuable asset in your career but also keep you engaged and motivated.
- Build and maintain a strong network: Your professional network can be a powerful resource for discovering new opportunities, gaining insights, and receiving guidance. Make an effort to connect with others in your industry, attend relevant events, and engage in online discussions. Cultivating these relationships can open doors and help you navigate through the later stages of your career with greater ease.
Remember, it's never too late to make a significant impact in your field or to pursue new opportunities that excite and inspire you.
Stay focused on your goals, be adaptable, and trust in the wealth of knowledge and experience you have accumulated throughout your career.
How important is it to highlight the diversity of ways that women think, act, collaborate to get things achieved – that otherwise are often considered impossible to do?
Highlighting the diversity of ways that women think, act, and collaborate to achieve seemingly impossible tasks is extremely important for a number of reasons:
- Breaking stereotypes: By showcasing the variety of approaches and styles women bring to the table, we can challenge traditional gender stereotypes and help create a more inclusive environment for everyone.
- Empowering and inspiring: When we celebrate the achievements of women who have overcome obstacles and found innovative ways to accomplish their goals, we empower and inspire other women to pursue their own aspirations and believe in their potential.
- Encouraging diverse perspectives: Emphasising the diverse ways women think and collaborate can contribute to better decision-making and problem-solving in the workplace. A variety of perspectives can lead to more innovative and well-rounded solutions.
- Promoting inclusion and equality: Recognising the unique contributions of women in various fields helps to level the playing field and fosters a more equitable and inclusive work environment.
- Driving innovation and growth: When we appreciate and harness the power of diverse thinking, we can unlock new possibilities and drive innovation and growth.
By highlighting and embracing the diverse ways in which women think, act, and collaborate, we can foster a more inclusive and dynamic environment that benefits everyone involved and helps to create a more equitable and innovative world.
Under the spotlight: Catherine Wood
Cathie registered ARK Investment Management LLC (“ARK”) as an investment adviser with the U.S. Securities and Exchange Commission in January 2014. With over 40 years of experience identifying and investing in innovation, Cathie founded ARK to focus solely on disruptive innovation while adding new dimensions to research. Through an open approach that cuts across sectors, market capitalisations, and geographies, Cathie believes that ARK can identify large-scale investment opportunities in the public markets resulting from technological innovations centred around DNA sequencing, robotics, artificial intelligence, energy storage, and blockchain technology. As Chief Investment Officer (“CIO”) and Portfolio Manager, Cathie led the development of ARK’s philosophy and investment approach and has ultimate responsibility for investment decisions.
What are you most passionate about within the industry?
I am most passionate about disruptive innovation and its potential to transform and improve our lives. At ARK Invest, we concentrate on identifying and investing in companies that are leading transformative technologies in multiomics, robotics, artificial intelligence, energy storage, and blockchain technology.
These game-changing innovations have the potential to revolutionise the way we live, work, and interact with one another, creating new markets and driving economic growth. I am excited about the opportunities that these technologies present, and I'm passionate about finding the companies that are on the cutting edge of these advancements.
Another aspect of the industry I'm passionate about is democratising access to investment opportunities and information. With ARK Invest's open research ecosystem, we aim to share our insights and analysis with the public, fostering a culture of transparency and collaboration that benefits all investors.
By focusing on disruptive innovation and promoting transparency, I believe we can contribute to a more prosperous and equitable future for all.
Catherine Wood is a part of our incredible speaking faculty at IMpower 2023. Don't miss out on her presentation 'IMpower Women Mean Business Investor of the Year - How I stepped out of the norm to build a winning business' on the 28th of June, 2023.
Find out more about IMpower 2023 here>>
