From geopolitical uncertainty to climate risk, technological disruption to shifting workplace expectations, today's leaders are operating in a world that looks nothing like the one they entered. The demands are higher, the context more complex, and the need for clarity, empathy and long-term thinking has never been greater.

In this episode, we explore how leadership is being redefined, not in theory, but in lived experience.

What does it mean to lead with purpose? How do leaders stay grounded amid complexity? And what does the next era of leadership require from all of us, inside and outside the workplace?

Joined by three industry leaders — Kirshni Totaram Global Head of Institutional Business, Coronation Fund Managers, Yolanda Blanch Chairperson, Pensions Caixa 30 (PC30) and Diya Luke, Global Head of Investments, WTW — we explore the principles, practices and perspectives shaping leadership today. Resources mentioned:

• Toolkit: Spotlight on Superteams
• Research paper: Culture – the organisational superpower
• Book: Drive: The Surprising Truth About What Motivates Us – Daniel Pink
• Book: The Fifth Discipline: The Art & Practice of The Learning Organisation – Peter Senge
• Book: Hidden Potential: The Science of Achieving Greater Things – Adam Grant
• Book: Thinking, Fast and Slow – Daniel Kahneman
• Book: Noise: A Flaw in Human Judgement – Daniel Kahneman et al.
• Book: Quiet: The Power of Introverts in a World That Can't Stop Talking – Susan Cain
• Explainer: Theory U – Otto Scharmer
• Article: Understand team effectiveness – Google

Defined contribution (DC) pensions have overtaken defined benefit schemes globally, marking a fundamental shift in how societies save for retirement. But while the model has grown in scale and sophistication, a central challenge remains: how can DC systems deliver reliable income for life?

In this episode, we explore the evolving world of DC pensions — from technology and private markets to sustainability, systemic risk, scale, and member outcomes. Joined by Tim Hodgson, Co-founder, Thinking Ahead Institute, and Jelena Croad, Head of LifeSight, WTW, we unpack insights from Thinking Ahead's Global DC Peer Study and discuss how leading providers are responding to growing pressures and opportunities.

Resources mentioned:

• Study: Global DC Peer Study
• Investment insight: Data 'slop' and disinformation emerge as systemic risks for investors

In this episode we explore the future of wealth management at a time of profound demographic and cultural change.

Joined by Andrea Caloisi, Associate Director, Thinking Ahead Institute, and Ellie Lloyd Jones, Director, WTW Investments and Strategic Development Support, atomos wealth, we unpack the findings of Thinking Ahead's new Global Wealth Study and the implications for an industry in transition.

We discuss the "Great Wealth Avalanche" and how this shift is already reshaping client expectations. We also examine the role of technology and AI in lowering barriers to advice, the growing demand for ESG-integrated products, and why wealth management may increasingly look like wealth care: a model built around financial wellbeing as much as financial returns.

Resources mentioned:

• TAI Global Wealth Study
• TV series: Succession

Risk 2.0 isn't just a theory—it's changing how risk is measured, analysed, and managed in real time.

In part one of our Risk 2.0 series, we explored the concept as a more adaptive approach to risk—one that accounts for uncertainty, resilience, and long-term thinking.

In part two, we turn to practice. Investors are applying new tools, new data, and new thinking to navigate today's more complex landscape. From forward-looking indicators to options-based hedging, the focus shifts from philosophy to application.

Joined by Benedek Voros, Director of Index Investment Strategy at S&P Dow Jones Indices, and Mandy Xu, Head of Derivatives Market Intelligence at Cboe Global Markets, we unpack the relevance of volatility dashboards, the growing role of dispersion, the breakdown in traditional correlations, and the tools enabling more precise, flexible risk management.

In this episode of Investing for Tomorrow, we unpack the digital transformation reshaping investment organisations and the evolving landscape of private markets.

Joined by Martin Dietz, Head of Diversified Strategies at L&G Asset Management, and Christine Moy, Head of Digital Assets, Data & AI Strategy at Apollo Global Management, we explore how blockchain, tokenisation, and AI are driving innovation, operational efficiency, and new opportunities across asset management.

We discuss the shift from fragmented record keeping to unified infrastructure, the power of programmable finance to democratise private markets, and the accelerating role of AI in transforming the industry. Resources mentioned:

• Research paper: The Future of Wealth Management: Ultra-efficient portfolios of traditional and alternative investments powered by tokenization
• Artwork: Everydays by Beeple

In this episode of Investing for Tomorrow, we explore the Total Portfolio Approach (TPA) — a model that prioritises long-term goals, cross-team collaboration, and dynamic decision-making over rigid asset class buckets.

Joined by Sue Brake, former CIO of the Future Fund and Board member at NZ Super Fund and Stephen Gilmore, Chief Investment Officer at CalPERS, we unpack the practical and cultural changes required to implement TPA, from breaking down silos to fostering joined-up thinking. As well as the benefits and the real challenges in making the transition.

Whether you're just starting to explore TPA or looking to deepen your understanding, this episode offers timely insight into one of the most promising evolutions in institutional investing.

Resources mentioned:

• Research paper: It's about time
• Research hub: Total Portfolio Approach (TPA) hub

As market dynamics shift, alternative and private market investments are taking centre stage—reshaping portfolios and redefining investment strategies. In this episode of Investing for Tomorrow, we explore why asset owners are increasing their allocations to private markets, the rise of "Alternatives+++", and how gold continues to serve as a safe-haven asset in uncertain times.

Joined by Denise Kehler, Chief Investment Officer, North America at WTW, and Jeremy De Pessemier, Asset Allocation Strategist at the World Gold Council, we explore the trends, innovations, and challenges driving a new approach to portfolio construction—one that emphasises resilience and long-term performance through alternative investments.

Resources mentioned:

• Global Asset Owner Peer Study on best practices
• Goldhub

Risk has always been at the heart of investing—but today's systemic shocks, regime shifts, and the rise of private markets are pushing traditional risk models to their limits. Investors need a new approach.

In this episode we explore Risk 2.0—a broader, more adaptive way of managing risk that accounts for uncertainty, resilience, and long-term thinking.

Joined by Jeff Chee, Global Head of Portfolio Strategy at WTW, and Lindsey Matthews, Chief Risk Officer at Universities Superannuation Scheme (USS), we unpack why the current risk paradigm is falling short, what's holding investors back from adopting a more systemic approach, and how firms can evolve their risk management for the future.

Resources mentioned:

• Systems thinking content hub
• Systems curriculum
• Pay now or pay later?

Beyond portfolios, what truly drives long-term success? In this episode of Investing for Tomorrow, we explore organisational alpha—the value firms create through people and process.

In an era of rapid change and uncertainty, resilience is key. Joined by Roger Urwin, Co-founder of the Thinking Ahead Institute, and Mitesh Sheth, Chief Investment Officer, Multi-Asset at Newton Investment Management, we unpack how governance, technology, talent, culture, and leadership shape the future of investment. We discuss why firms that master these elements are better positioned to adapt, innovate, and thrive.

Resources mentioned:

• Global Asset Owner Peer Study on best practices

• Insights and best practices from global asset owners | part 1

• Insights and best practices from global asset owners | part 2

• 2024 NZ Super Fund review

• Holiday time reading 2024 | Today a reader, tomorrow a leader

Don't miss our final podcast episode of the year, where we spotlight the standout Thinking Ahead Institute research from 2024. While we can't cover it all, we'll explore key highlights, from the climate transition and systems thinking to investment beliefs, asset owner best practices, and our latest industry studies.

Join us as we sit down with each member of the research team to dive into their insights and get to know them better. Tune in to reflect on what has been another bumper year for the Thinking Ahead Institute!

Resources mentioned:

• Research agenda 2024
• Global Asset Owner Peer Study on best practices
• Global industry studies
• Systems curriculum
• Systems thinking content hub
• Book: Post Growth—Life After Capitalism by Tim Jackson
• Book: Siddhartha by Hermann Hesse
• Book: On Leadership: Lessons for the 21st Century by Tony Blair
• Film: The Day After Tomorrow
• Artwork: The Great Wave off Kanagawa
• Song: Imagine by John Lennon
• Cartoon: Ride the waves of annihilation