(Talking) heads of IR: Lessons in targeting

Taking on the topic of ‘IR best practice: How successful heads of IR manage their day-to-day operations’ is a pretty big feat, with much to cover. And while the three-strong panel on the big afternoon session at June’s IR Magazine Think Tank – Euro Leaders discussed everything from ‘IR-immune’ institutions to third-party providers, private client roadshows and the perils of doing ‘too much IR’ – or the wrong type of IR – the real focus of the session was targeting. 

The event is held under the Chatham House Rule, so quotes remain anonymous. 

Though all three panelists use brokers – especially for international roadshows – each head of IR on the panel agreed on the importance of making the process work for you. ‘We’re pretty candid and upfront about how we want our roadshows to work,’ noted one. ‘We’re open to input but this is our event.’

And two of the three have an IR team member dedicated to targeting. ‘Use brokers – good brokers – where they’re relevant and they can help but do the targeting yourself, particularly if you want to get down to the individual portfolio manager or fund manager level,’ advised another panelist. ‘The broker’s going to help you get to the right building, the right floor, but if you want the right people in the meeting, in my experience you have to do that yourself.’

Of course, an IRO dedicated to targeting is a big commitment, with much of the detail changing month by month – but it pays off. One head of IR told a story of how one of its top five or six investors, which would otherwise have been screened out, came through the direct targeting approach: ‘One meeting with me, one meeting with our CEO and it went right to the top of the register.’ 

This topic – how successful heads of IR manage their day-to-day activities – will also be tackled on day one at the IR Magazine Global Forum in Paris on October 3 and 4.