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    Saleem Sonday

    Head of Retail and Managing Director of M&G Investments Unit Trusts

    July 2024

    Meet M&G People

    Tell us something about your job that most people don’t know.

    While I have over 20 years of experience in Distribution in the investments industry, it was not my first career. I started out in Information Technology (IT) working across functions and gaining experience in a range of interesting IT-related projects. In a way, I think that Distribution as a career choice found me along the way in my career journey.

    Tell us about your very first job.

    My first job was working in our family business, which was a butcher. So, I know my way around meat products and also, I’m handy with a meat cleaver. I’m quite happy to cut the top cap of your rump (steak) into a tasty Picanha!

    What motivated you to pursue a career in financial services?

    During my time at business school, one of the leading asset managers presented to students at a recruitment drive. What appealed to me was that financial services seemed like an industry that provided a valuable service in helping people retire with dignity and helping them grow their wealth. Further to this, it also seemed like an industry that is quite resilient and brimming with opportunities for growth.

    What is your go-to career advice for young people at the start of their careers in financial services?

    Many years ago I read this article titled: “Why Generation Y Yuppies Are Unhappy” which was a an interesting perspective on how different generations compare to how Gen Y view themselves in the context of the world and their approach their careers. One line really summed it up for me: “Great careers take years of blood, sweat and tears to build and even the most successful people are rarely doing anything that great in their early or mid-20s”. There are no wiser words which I would pass along to young people entering any career.

    What do you consider to be the biggest challenges facing this industry? 

    The financial services industry faces several challenges, including transparency around products and cost disclosures. In addition, the regulatory environment makes it hard for pension funds, intermediaries and investment businesses, like M&G, as it adds significant costs to doing business.

    What are some of the key lessons you have learnt in and about the industry?

    Stay humble. Always remember that we are only the custodians of our clients’ assets and without them we wouldn’t have a business. We place our clients at the centre of everything we do. We must always place a premium on building and maintaining our clients’ trust as it takes years to gain but can be destroyed in an instant.

    What is one of the best books on business/finance/motivation that you’ve ever read — and why would you recommend it to others? 

    My favourite author in this category is Morgan Housel. His writing style and pragmatic approach to money management and investing makes it a very good read. His books offer great financial as well as life lessons for all.

    What would you say have been your best personal financial moments? 

    I would say taking a ‘buy and leave’ strategy has stood me in good stead over the years.

    What would you like to be known for?

    I would like to be known as someone who has made a small difference in the lives of others but doing it with a sense of justice and equality. Finally, it would be about being known as someone who focused on the long-term view while having built something that added value.

     

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