Leslie Marks is chief investment officer of equities at Mackenzie Investments. She oversees approximately 90 investment professionals who manage the firm’s diversified equity portfolio across 11 equity boutiques.
With over 25 years of experience in asset and wealth management, including 22 years with a major Canadian bank, Leslie is a veteran and respected leader in the financial industry. She is a CFA charterholder and holds a Bachelor of Commerce from Queen’s University and an MBA from Ivey Business School. Active in the community, Leslie serves as Board Chair for the Crescent School Foundation, sits on the Advisory Board for the Sustainable Finance Association and is a member of the Finance and Risk Committee for Kids Help Phone.
Leadership lessons: What are the most impactful leadership lessons you have learned so far? How do these lessons inform your everyday decision-making?
Leadership is an ongoing journey that requires openness to evolve, especially as you gain experience. Each of these experiences acts as a building block, allowing leaders to learn from their mistakes while adapting to changing environments and industry disruptions. Cultivating a growth mindset extends to self-awareness: recognizing and leveraging your strengths and recognizing areas where you still have room for improvement.
At the end of the day, I believe the human aspect of leadership is paramount. Maya Angelou wisely said, “People will forget what you said, they will forget what you did, but they will never forget how you made them feel.” As leaders, we cannot control every event or the actions of others, but we can shape the impact we have by showing empathy to our team members.
Career Evolution: Over the course of your extensive career, what significant changes have there been in your approach to investment management, and how have these changes contributed to your success?
Early in my career, my focus was narrow and focused on Canada. Over time, I came to understand the interconnectedness of the world and began to think more frequently about how important global trends were affecting domestic outcomes.
Another change in approach is the emphasis on risk management and leveraging data-driven insights to enhance our investment approach by moving from a purely return-driven approach to delivering attractive risk-adjusted returns. Another example of a broader perspective is the consideration of sustainability and non-financial factors in the decision-making process, which also contributes to enhancing our overall risk management approach to investments.
Innovative Culture: Can you share your thoughts on how fostering an innovative culture has contributed to your company’s success and your company’s role in fostering this environment?
Innovation plays a critical role in Mackenzie’s success. We work together across different departments – product development, marketing, sales, investment management and sustainability – to anticipate future trends and respond to emerging market needs. The most powerful and creative ideas are born at the intersection of these departments and drive us forward as a whole.
As an innovation driver, I gain insights from nearly 30 years of industry experience spanning multiple market cycles and events. Additionally, I maintain a broad knowledge base beyond Mackenzie’s walls, drawing on industry sources and geographies across the globe, as valuable ideas can come from diverse sources. Given the importance of globalization in the industry, our global teams in Asia and Europe markets also provide exposure to fresh ideas from a global perspective.
Diversity and Inclusion: How do you address diversity and inclusion in the finance industry, specifically gender diversity? What strategies do you think would be effective in encouraging more women to pursue and thrive in leadership roles?
Gender diversity in the asset management industry is still not where we would like it to be, and more specifically, progress in investment decision-making roles has been limited.
Despite increased attention over the past decade, this trend has stagnated. However, it is encouraging to see roughly equal representation of men and women in college-level STEM programs, particularly in business and engineering. From a recruiting perspective, we believe we can make the biggest impact in this space if we can effectively address the education of college students and ultimately attract more women into the industry.
Through our efforts, we have improved our gender balance, with approximately 30% of our investment professionals now female. We are proud that our representation is above the industry average, but we know there is still work to be done.
Future Trends: You have extensive experience in both asset management and wealth management, what trends do you think will impact the financial industry over the next decade?
The asset and wealth management industry is facing two major trends that will shape how it operates over the next few years. First, the widespread adoption of artificial intelligence (AI) is transforming the way we work. Generative AI tools are becoming more accessible, improving productivity across a range of sectors. At Mackenzie and across the industry, we are exploring how to integrate these tools into every step of the workflow, aiming to further increase alpha generation for our clients.
Second, a generational shift is underway in how investors gather information, make decisions, and allocate capital. Younger generations of investors, especially Gen Z, are digital natives and heavily influenced by social media. They prefer to invest through their mobile phones and minimize human interaction. As an industry, we need to develop strategies to attract the emerging Gen Z investor demographic while balancing serving our existing customer base with a high-touch approach.
What are you excited about for the future?
Throughout my career, I have experienced the impact of transformative technologies – from fax to email, from landlines to smartphones – that have created new opportunities and ways of doing business.
While the exact impact of digitalization and GenAI on our industry is unknown, one thing remains constant: our industry is fundamentally about helping people from all walks of life achieve financial milestones in life. Whether it’s buying a home, funding a child’s college education, or securing a financially secure retirement, our objective remains the same. The way we achieve these outcomes may change, but I’m excited about the role I can play in improving them. At Mackenzie, our motto is “Invest In,” and anything we can do as an organization to inspire more people to invest in their future is an inspiring prospect.
