From Analyst to CEO: Helena Conradie Women in Finance

Hi, Helena! Thank you so, so much for joining me. I'm so excited to chat to you!

Thank you very much. I'm also very excited. And thanks for having me.

Ah, no, the pleasure is all mine!
Okay, let's jump right into it. I want to talk about the early days. You began your journey with Satrix in the year 2000. It was a very different landscape.- Women weren't as prominent in the kind of positions that we're in today. You know, we weren't as represented.

So looking back, what do you think it is that helped you break through those barriers and rise ultimately to CEO of Satrix?

Before I answer your question, I would love to say that EasyEquities is for me just a dream company and I always have a soft spot for them. And for me, this is a huge privilege to be part of this. So whatever we share, just know that it is for me, really a privilege to be part of a podcast associated with EasyEquities.

So back to your question. I think it was never for me about breaking barriers or even thinking about a plan to be a CEO. I mean, definitely not. It's almost in retrospect that you think, okay, what actually was the... What contributed to success and that you actually had that specific path that you followed. Now I'm an analyst at heart, so I would go really into the detail of things, even if I go and buy running shoes. And I think that's what you do when you start with your job, or for me personally, that was my case.

I wanted to know exactly the subject matter. I wanted to understand the system. And for that reason, I think I was quite naive for what is going on around me. I didn't know navigating the system, nothing of that. And I think that actually saved me in a bit because I was really focused on what I'm doing, understanding index investing. And that drawed me that also sort of… That was for me the attractive part because I came from a mathematical background and it was systematic. So that was probably the first step.

Then at some point, I think you get to a point that you believe in what you do and you sort of get a little bit more confidence. But I also realized the strength of index investing and then exchange traded funds. And I don't have to mention that to someone from EasyEquities, but I think at that point I realized this is something that actually can play a huge role in financial inclusion. And that's when you sort of move from just focusing on your job, but moving to something that has got a much bigger purpose in life and where that is actually the driving factor. And then whatever happens after that, you almost develop a thick skin because you believe in that.

So you’re, in a way, not afraid of failure, because this is what makes me passionate and this is what I believe in. So I'm quite fine and relaxed about it. So I think that that's, for me, something that's important and the fact that you can dream about something that you can't see, but that, you know, is a very important part.

Wow, that's such beautiful advice. I love that. Just kind of go with it. Don't be afraid to make mistakes and own it.

Exactly. There's no other way. For... At least for me, I think it's a very personal thing. But for me there was no other way. Yes.

Ah, that resonates. Yeah, that resonates a lot with my journey as well. And I mean, on EasyEquities, we've, we've really tried getting more women investors, getting more women employees. I mean, we've just celebrated our 10th birthday as you know, towards the end of 2024., and our results came out roughly the same time. And I mean, women make up now 42% of our investor base up from 22% in 2015. So we've seen massive strides there.

45% of staff at EasyEquities were women. So what would you like to say to those women who are just starting out, either in the financial world, like working for a financial company, or they're just starting out their financial journey? What advice would you give to the woman who's just stepping into this space?

Well, I think, first of all, congratulations: 10 years, it's amazing! My journey and Satrix’s journey started with EasyEquities when they were only one year old. Yeah, that was. I can't believe that: 10 years old and the women, I mean, 42%, that's absolutely amazing. So well done. I think we often joke that women are multitasking and men can't, but I think there's something in there as well, and maybe a little bit deeper than that is that women has the ability to see the whole and connect the dots and almost understand the needs of people, the needs of themselves, and then also the environment. And I think that's all very important in investing.

Investing is not about just picking stocks. It's part of a bigger financial plan as well. And I think women has got the ability to do that. So in a way, just be yourself, trust what you bring to the party. Don't try and think like a man in investing because you have a different way of, of bringing it all together. And I think that's very important that you sort of… It is almost a way to financial freedom, that ability to invest.

Now just think of how powerful that is for women, because all of us want to be independent, (or at least I wanted to be independent), and that's a powerful tool, the fact that you can invest, but do it in ways in the world that you feel comfortable and also in the much bigger understanding of all your needs.

We try and sort of put things in buckets and we say, this is our health, this is our sport, this is our work, and this is our investing, and you think they're not interconnected - They are. And I think that's what women can do. They can connect all of those things and then understand what it is that I want to achieve with my financial goals. And I think that is probably what women should focus on and really trust your instinct, because that plays a huge role in terms of the investing trust, that inner compass. And I think that's very important for us as women.

That's amazing. I love the passion that you bring when you talk about this! And before we hit record, we were talking about some other passions that we had. You're big into nature photography, so could you tell us a little bit about that? You know, linking, as you say, everything is interconnected, so linking that passion not just to your job, but finding ways to inject it into other avenues and bring them together. Like it's not just one or the other. I'd love to hear more about that.

Yes. That was when I left Satrix it was really, I promised myself I would really go back to my camera and pick it up. And actually my love for photography died a little bit through your career because you just don't have time. And I went to Chobe and it was a Canon festival, and then we also went after that to Okavango Delta, and there was one of the Game Rangers, so I was just... I mean, I was in seventh heaven. It was just absolutely fabulous. And one of the Rangers, at one point, he switched off the engine and he said, “Sometimes you just have to switch off the engine and listen” and I thought, my word, I mean, this is business!

And then I started. Yeah, I literally took my phone and they were laughing at me after a while because everything then that they said, like, ‘you can't see your reflection in running water’, or… it was just everything I could take back to my other passion - that's Business Strategy, and then I started to connect the two. So I came back and my presentations are now filled with wisdom from nature as well. And I linked it. But I think it is for me, it was absolutely a moment of joy when I realized, okay, I can actually combine these passions.

That's incredible. And what would you say, just for fun, what is your favourite element of nature to photograph and why?

Okay, my favorite moment is literally when I'm there and you don't have a cell phone connection and you feel the warmth of the sun. And then probably my favorite animal is a leopard. If I look into the leopard's eyes, I mean, it's just the most beautiful animal to photograph. And you don't see them very often. So if you do, I mean your heart jumps out of your mouth.

And have you, have you managed to photograph?

Yes, yes! So we went to Mashatu last year and that was just its leopard country. And we were starting to almost bet how long it will take into a drive for us to see a leopard. And that was just amazing.

Oh, that's so special. We have to get some pics. I want to see!
So with SatrixNow, obviously it was part of a big drive to champion making investing accessible to all South Africans, regardless of where we come from, we've all got a common goal… Besides that, what would you say are some of the biggest wealth building opportunities that can help shape our economic landscape and uplift and make real change?

You know what, I think there's two elements to it. If you think of investments, there's a vehicle and then there's the actual asset. So the underlying... So if you think of an exchange-traded fund, you can invest in the top 40 shares or you can invest in property. So that's sort of the two components. And I think what Satrix and index managers in South Africa and EasyEquities, what they have contributed to this environment is the fact that they have democratized investments, but also exchange-traded funds. And for me, there's an opportunity in both of these, of these elements. In the vehicle, I think you see more and more active ETFs coming through as well. It is a very, very efficient vehicle. And I'm so glad to see that people now see that it's not linked to index management as such. It's a vehicle of access. And that's the magic. So you can access, and especially like EasyEquities have done, you can access property through it, you can access wealth, sort of portraits and art and anything.

So the underlying is an opportunity but the vehicle itself, I think is an opportunity as well. And in the underlying, I think, especially with the world that we confronted at the moment, the complex nature of the problems we all want to be involved in, impact. Where can we have impact? And I think if you can match those things and you say impact investing or social investing as well, sustainability funds, there's a huge opportunity to democratize that so that people own a little bit of what they want to see changing in the world as well.

So if you can link investment return with what people fear and dream about, I think that's the opportunity. And there's a huge opportunity, I think, for EasyEquities to do that.

This ties in nicely with our drive to educate our EasyEquities user base. It's a big drive for u: financial literacy. I mean, we always talk about ‘grow and protect your wealth’. I think we could even add on ‘know, grow and protect your wealth’… so I would love to pick your brain and hear your thoughts on how you think we could improve both the quality and accessibility of financial literacy. And then what would be your kind of one nugget that you would tell somebody who's just at the precipice, they want to take that first step, but they just can't get off the line to just start. Because I've heard that, you know, oh, just start. But what would that nugget be that could get someone to just take that first step?

So I think there's different levels to this. And if you can connect the heart and the brain, the heart and the mind, then I think knowledge will be internalized. If you only throw knowledge at people, it might not make sense. And because investing is so intimidating, I think it hits something sometimes a wall, like mathematics. Some people just, I mean, they shut down when hear investments.

So I think the most important thing is speak to the heart of a person that they can relate. And we've had, years ago, we had something called the People of Satrix where you and it's storytelling. It was basically telling the stories of real investors and how they started and a real story where people can relate to it immediately. It catches you because if you think of you scrolling through Instagram, where are you going to stop? Where there's a little bit of a story and you might even relate to that story. So I think that is a very important part. Then it is almost easier to get to the mind and then break it into something that is again, interactive. EasyEquities. Years ago, that's actually how we, we noticed EasyEquities - they had a game where you invest it, and all we picked up on Twitter was, “I've just invested in Satrix 40. It's that easy!”… But it was a game. And I think that's also, if you can make it very real, then people… It's not just a notebook, it's just not a story. It's, “I can actually play with it and I don't have to lose money, but I can try.”… So I think the gamification of that is also important. Then make it fun.

And then third. Third one I would say is that there's a quote from James Clear - You do not rise to the level of your goals; You fall to the level of your systems. And I think your systems must be built in such a way, (and I mean systems in terms of roles as well, roles within the bigger ecosystem), not only the actual I.T, but that must almost enable continuous learning and different levels. And with AI nowadays, I mean, you can build fantastic things, and I think that will also play a role.

So I think there's different levels to it. But you can't just start if you don't first speak to the heart.

So if they say that “The way to the heart is through the stomach”, is the way to the mind through the heart”?

I think investing is a very personal thing. You basically give money to someone else and say, I trust you to invest this and make this grow or lose my money. So it is a very emotional thing. Although it's all about numbers and investment return, it's very emotional. There's a huge psychology behind it. And I think that's why we often just think about the numbers and go and look at the expected return and all those things.
But can you actually relate to the way that I'm investing, to the person that I'm giving my money to and to the business I'm investing in? So those are all things that I think is very important.

I love that. Thank you.
Okay, we're going to end off with a little fun one, but I first want to say thank you so much for your time. I've loved our chat and I hope to do it again soon.
Before we go, if you had to describe your leadership style using a movie or a song title, what would it be and why?

Okay, that's a very, very fun question. It's also a difficult question. So I was literally going through a few movies and I thought, okay, what was it that I really enjoyed? Now, there was a movie about Nike Air (“Air” 2023). I don't know if you've seen it. And it was all about their executive, I think he was called Sonny. And at that stage, they were... I think Adidas at that stage were actually quite a contender. And Nike was not top necessarily. And I loved the business idea of that as well, because they went through the business like a business. The whole process of that. I loved that. But then Sonny basically said, okay, we are. We need to contract with Michael Jordan. And at that stage, he was not. I mean, the famous Michael Jordan. He was still upcoming, so there was a huge risk. But he had a dream. And he was intuitively, he knew that this is the right thing to do. And that ended up in the Jordan Air brand and hugely successful.
But I resonated with that because I thought I'm a bit of a dreamer. And yes, it's because you, in your gut, that inner compass, you know that this is the right thing.

Like index investing, you go through a lot of rolling the eyes. I mean, there were people sleeping in presentations that you realize they don't believe in this as I believe in it. But you had a dream and you get to a point where you almost, in a way, have a thick skin and you actually don't mind criticism anymore because you believe in this. And then you take it forward because it's not all about the numbers.
You didn't have a business case before you started with that dream. As you go on, you build it. But the first step is again, just start in a way, you have to start kicking off that dream. So I think that's… That's my reflection.

Such wise words! Thank you. Thank you so much for sharing with me and wishing you all of the best.

Thank you very, very much. It was lovely speaking to you!

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