A Day in the Life of an IR Professional
Ronan White
40 years: Capital markets and investor relations
In this video, Ronan goes through the practicalities of IR; that is, how roadshows are used to engage with investors, how companies work through structuring IR and, lastly, what kinds of skills are needed to succeed in IR.
In this video, Ronan goes through the practicalities of IR; that is, how roadshows are used to engage with investors, how companies work through structuring IR and, lastly, what kinds of skills are needed to succeed in IR.
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A Day in the Life of an IR Professional
8 mins 10 secs
Key learning objectives:
Identify the different skill set requirements of equity and debt IR
Understand how roadshows are used to facilitate communication with investors
Outline the different structures and reporting lines of IR
Overview:
Investor Relations (IR) is a critical function that facilitates effective communication between a company and its investors, supporting both equity and debt markets. Through activities like roadshows, IR teams engage stakeholders, share strategic updates, and gauge investor sentiment. The structure of IR varies by organisation, influenced by size, complexity, and market focus, and may sit within finance, communications, treasury, or operate independently. Successful IR professionals possess a blend of financial acumen, communication skills, credibility, and strategic insight. As the field continues to evolve, it is increasingly shaped by regulatory developments, ESG priorities, shareholder activism, the rise of passive investing, and technological advancements such as big data and machine learning.
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Summary
What are the different skill set requirements for equity IR and debt IR?
The skill set requirements for equity IR and debt IR share similarities but have distinct emphases. Debt IR professionals typically come from treasury or capital markets backgrounds and require a strong understanding of these areas. Equity IR professionals often have backgrounds in communications, finance, accountancy, or as buy or sell-side analysts. In both fields, an IR professional should demonstrate credibility, authority, confidence, and comprehensive knowledge of the business. Key skills also include good collaborative abilities, authority and presence, understanding financial reporting, and strong presentation skills. Essentially, an IR professional should be a Jack or Jill of all trades, able to navigate complex financial landscapes and communicate effectively.
How are roadshows used to facilitate communication with investors?
Roadshows are crucial events used to engage with the investment community by facilitating a series of investor meetings. These meetings can be virtual or physical, one-on-one or in groups, and occur over several days across different locations. In equity IR, roadshows can be event-specific, such as coinciding with corporate announcements, or non-specific to boost investor knowledge and interest, especially before an IPO. In debt IR, roadshows can be deal-specific, for bond issues, or non-deal-specific to raise awareness of a company's debt programmes. Roadshows may precede formal book-building exercises to assess investor appetite and help set transaction parameters. With the rise of remote work due to COVID, virtual roadshows have become more prominent, offering flexibility and increased reach.
What are the different structures and reporting lines of the IR function?
The structure and reporting lines of the IR function vary significantly between companies, depending on factors such as size, complexity, and management commitment. Some companies have a dedicated IR team, while others have separate equity and debt IR teams within the corporate hierarchy. Alternatively, IR may sit within another department, such as finance, corporate communications, or treasury. Historically, IR was part of the corporate communications team, but with its increasing technical demands, it often sits within the finance function, sometimes with a dotted line to communications. In some organisations, IR may report directly to the CEO, maintaining connections with finance, treasury, communications, and PR. Ultimately, each company tailors its IR setup to its unique needs and goals.
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Ronan White
Ronan has over 30 years’ experience in senior management roles across the financial services sector in Ireland and the UK. His career spans treasury, capital markets, investor relations, corporate lending, corporate communications, marketing, and compliance. He currently works in Dublin with InCol Limited a mortgage sector, financial solutions business focusing on the UK, Irish and Benelux markets, and with its sister company,
DFinitive Capital, a financial aggregator originating capital markets funding for the social and affordable housing sector in Ireland.
Ronan serves as Non-executive Chairman of Moneycorp Technologies Limited (MTL), the Irish based regulated subsidiary of Moneycorp Group. MTL operates the group’s EU business. Prior to InCol and DFinitive Ronan worked with National Australia Bank in London and prior to that he was with Anglo Irish Bank (Dublin and London), the Woodchester Group (a consumer finance business owned by GE Capital and before that by Credit Lyonnais) (Dublin and London) and with Allied Irish Banks (Dublin). Ronan is a Fellow of Chartered Accountants Ireland having trained with KPMG where he specialised in reconstruction and insolvency assignments. He is a graduate of University College Dublin with a B. Comm. He holds the FT Non-Executive Director Diploma.
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