Enquire, the Investor Relations podcast – Details, episodes & analysis

UK capital markets are undergoing their biggest regulatory transformation in a decade, and the FCA joins Clara Melia to break down exactly what’s changing, why, and what it means for issuers, sponsors, and IR teams.

Sarah Hone, Daniel Holmes, and James Hunt explain the FCA’s shift toward a more disclosure-based regime designed to improve competitiveness, speed up transactions, and maintain high standards of market integrity. They discuss the new single commercial company listing category, the removal of certain shareholder approval requirements, aggregated short selling disclosures, and the sweeping prospectus reforms arriving in January 2026.

The conversation also tackles day-to-day disclosure challenges, from leaks to late results to complex M&A situations, as well as the regulator’s increasing focus on ESG, greenwashing, and technological change; including the safe use of AI in reporting and capital markets activity.

Packed with practical guidance, real-world examples, and forward-looking insight, this episode is essential listening for anyone shaping or operating within the UK’s listed company ecosystem.

In This Episode:

• How the FCA monitors live market disclosures and coordinates across UK regulators
• The four pillars of the 2025–2030 FCA strategy: support growth, fight crime, help consumers, be a smarter regulator
• New short selling transparency rules and their impact
• Common disclosure pitfalls and how IR teams can avoid them
• The new listing regime: simplification, flexibility, and investor-focused disclosure
• PS25/9: What changes for issuers in the 2026 prospectus regime
• MAR hot spots: leaks, M&A, guidance misses, CEO transitions
• ESG disclosures, sustainability labels and greenwashing risks
• AI in capital markets: benefits, risks and FCA expectations
• Three practical checks every issuer should prioritise now

Quotes:

• “Disclosure is the foundation of investor trust, and the new regime puts even greater responsibility on issuers to get it right.”
• “Inside information must be announced as soon as possible. You cannot offset bad news with hoped-for future good news.”
• “AI brings huge potential but uploading inside information into open systems is almost certainly an unlawful disclosure.”

Resources:

Connect with Sarah on LinkedIn

Connect with Daniel on LinkedIn

Connect with James on LinkedIn

FCA changes to the UK Short Selling Regime: consultation materials  

In this Enquire episode, Clara sits down with Oskar Yasar, Managing Partner at Broome Yasar Partnership and author of The Global IR Revolution. With three decades in capital markets and more than 580 senior IR and corporate affairs appointments, Oskar is an influential voice in investor relations talent and leadership.

Oskar shares how IR has transformed from a back-office function into a strategic, board-level career path and why today’s IROs are increasingly moving into financial planning and analysis, strategy, corporate affairs, and CFO and CEO roles. He discusses the perfect storm of talent shifts, why boards now treat IR as mission critical, and how personal branding can make or break a candidate’s chances in a competitive landscape.

From compensation trends and career pathways to interview techniques and the impact of AI on the profession, this conversation offers an inside look into what great IR really looks like and what ambitious professionals should do next.

Whether you’re early in your IR journey, a senior director evaluating your next move, or a business leader shaping your company’s IR strategy, this episode is packed with practical insights and future-facing perspective.

In This Episode:

• Oskar’s career journey from financial communications to global IR headhunter, and how IR has evolved into a strategic, board-level discipline
• What defines a top-tier IRO today, from rising expectations of leadership to a deeper, more competitive talent pool shaped by bankers, analysts and high-EQ communicators
• How the IR function has transformed over the past decade amid activism, globalisation and greater CEO/board involvement in hiring
• Compensation trends post-COVID, including salary inflation, negotiation tips, and why companies often underestimate the cost of securing elite IR talent
• The power of personal branding in senior IR roles and the common pitfalls Oskar uncovers through his interview “trap"
•  Emerging career paths for IR professionals, including increasing movement into strategy, financial planning and analysis, corporate affairs, CFO and even CEO positions
• Practical advice for candidates to stand out, from networking and professional development, to using headhunters as strategic partners in long-term career planning

Quotes:

• “What makes great IR isn’t just company messaging. It’s personal brand, presence, and ambition.”
• “We are in the middle of a perfect storm: boards suddenly recognise the importance of IR just as a newer breed of ambitious, sophisticated candidates are entering the profession.
• “If you want to move into IR, you have to do the work: read the book, join the IR Association, go to events, meet people.”

Resources

Connect with Oskar on LinkedIn

The Global Investors Relation Revolution by Oskar Yasar 

Broome Yasar Partnership Insights

Seismic shifts in the markets and the wider geopolitical environment have become top discussion points for IR, fund managers, and investment companies. But are these shifts the norm or simply blips? Mitesh Sheth, CIO of Multi-Asset at Newton Investment Management Group (“Newton”), discusses his take on the current markets in this episode. 

Expect the Unexpected in the Market 

Mitesh’s varied career has given him unique insight across different areas of investment management. Beginning as an actuary, he later moved into roles including Head of Fixed Income and Director of Business Innovation at Henderson Global Investors and then Director of Strategy and CEO at Redington.  

As the Chief Investment Officer of Multi-Asset at Newton, Mitesh has oversight of Newton’s multi-asset and fixed-income teams based in London, as well as Newton’s quantitative multi-asset solutions team in San Francisco.  

Mitesh shares his perspective on what he describes as the new macro regime and explains that while volatility has brought big changes to markets, change has always been inevitable. His warning for anyone in investment management is to not become complacent with what the “norm” is, because it’s changing all the time.  

Mitesh also shares advice for IR professionals on how to communicate better with investors and fund managers and how to protect against volatility expected through the rest of 2025.  

 In This Episode 

• How Mitesh began his career as an actuary  
• How being an actuary gave him longer-term perspective of markets  
• Why learning from others has been his career north star  
• Mitesh’s perspectives on the shifts in the “macro regime” and why change is inevitable 
• Newton’s approach to market fluctuations 
• Consolidation in the fund management industry  
• How AI is changing investment management  
• Navigating the trend of fund outflows in the UK market  
• Predictions for 2025 
• Advice for communicating with investors today 

Quotes: 

"You're not trying to predict the future. You're trying to prepare for different future scenarios and ensure that clients' assets are protected, and their goals are met somewhat regardless of different scenarios."  

"The best IR professionals are meaningfully additive to the share price."   

“Trust is more important than ever before... And ultimately trust comes down to not over-promising.” 

Resources: 

• Connect with Mitesh Sheth 

Are we overlooking the UK equity market? It hasn’t incited the same level of excitement as the growth in the US market, but that doesn’t mean investors should disregard it. As Wes McCoy explains in this episode, even long market cycles come to an end, so are you prepared for what’s next? 

Is UK Equity Due for a Comeback? 

Wes is the Senior Investment Director at abrdn and has over 20 years’ experience in various roles within UK equity. He sits down with us to talk about why he thinks the UK market is overlooked but also why this could pose a great opportunity for investors planning for the long term.  

We hear a bit of Wes’ backstory as he takes us through the highlights of his career journey to where he is today and how he came to build his fund that oversees 35 stocks. Wes explains the realities of market cycles and tells us the best and worst investments he’s made over the years; plus the biggest lessons each experience taught him.   

Wes also shares some important advice for IR professionals on how to communicate better with investors and why trying to be everything for everyone is the wrong move.  

In This Episode 

• Wes talks about the challenge of fund outflows in the UK  
• How we could reignite the London Stock Exchange  
• The realities of market cycles  
• Three priorities that Wes considers before investing  
• Wes’ take on IPOs and advice for companies  
• Red flags that would put Wes off from investing  
• Wes shares some details of his own fund  
• The best and worst investments Wes has made and what he’s learned  
• What to look for in a fund manager 
• What an ideal investor meeting looks like  
• Advice for communicating with investors   

Quotes: 

 “I’m a believer in value versus expensive.” 

“Look out for a manager who owns their mistakes and attributes some of their success to luck. That's usually the right blend, not the other way around.” 

“If companies can explain [their value] to you exceedingly well, it usually means they explain it well to customers and employees. The people that nail that are the people that have authenticity and don't put on different faces and masks for different audiences.” 

Resources: 

• Connect with Wes McCoy 

What can we expect in 2025 when it comes to the UK equity market? While there have been challenges and volatility over the past few years, 2025 seems to be a promising start for companies, investors and IR professionals alike.  

Are Things Looking Up in UK Equity? 

Joining this episode is James Lowen, a Senior Fund Manager with 30 years’ industry experience at J O Hambro Capital Management, where he co-manages the J O Hambro Capital Management UK Equity Income Fund. James offers a broad perspective on the UK equity market in its current state and shares four key reasons why we should be optimistic this year. We discuss the various geopolitical issues impacting the market and his advice for IR professionals and companies trying to navigate the changes.  

We hear James’ view of what makes a perfect shareholder meeting, his advice for companies presenting to current and potential investors, and what IR managers can do to form greater relationships with investors.  

In This Episode 

• James’ career history and how fund management has changed over time 
• UK equity market performance and what changes are needed 
• How James engages with company management to help unlock value  
• IPO market challenges and the valuation gap  
• How James manages their fund 
• Red flags in financial disclosure    
• What makes an effective IR director?  
• Best practices for companies presenting information to shareholders  
• Examples of a good company meeting 
• ESG trends, the impact of current geopolitics and Board interaction 
• Four reasons for optimism in 2025  

Quotes: 

“I think companies have to be audacious in this world of low valuation.” 

“I think this is the most interesting time, probably in the 20 years we've been operating, and that's why we're quite fired up at the moment.” 

“More communication is good. We don't like where companies just pop out their results meeting twice a year. We'd like them to do things in the middle.” 

Resources: 

• Connect with James Lowen 
• The Long & The Low of it 

 £20 billion is the estimated outflow from of UK equities in the last three to four years, with almost half originating from small-mid cap equities. So, what separates companies that retain investor confidence and interest vs. those that don’t? 

 The Right Guidance and Communication Strategy to Weather the Storm 

 UK fund managers have been kept very busy over the past few years. Economic turbulence, sweeping political shifts, and the financial impacts of a pandemic have all contributed to the uncertainty around UK equities, affecting UK fund growth and performance.  

 In this episode, we hear the fund manager’s perspective from Siddarth Chand Lall, the Lead Fund Manager of the Marlborough Multi Cap Income Fund at Canaccord Genuity Wealth Management.  

 We explore the ways companies can improve their communication approach with investors and what needs to change to attract investment back to UK equities. Siddarth shares his perspective on the most influential changes in the market and his advice for investors, IR professionals and fund managers for this year.   

In This Episode 

• How companies can improve their engagement with investors  
• What needs to change to attract investment back to UK equities  
• The role of boards in investor communications  
• How MiFID II impacted company information access and coverage  
• Managing ESG considerations in an income-focused strategy  
• The outlook for UK equity markets in 2025 

Quotes: 

"When communicating with shareholders, they are partial owners. They are on your side, and there can be a partnership. They want you to do well, so it doesn't need to be combative." 

“To under promise and over deliver is so important. It really is one of the golden rules in any listed entity. If you can do that, that's where you protect the share price.  

“When you start off by saying everything's great and we're okay, and then at the end, you say, 'Oh, by the way, there's this negative thing to tell you about,' hoping that maybe some people wouldn't care about it... that really irritates investors."  

Resources: 

• Connect with Siddarth Lall 

As a business model unique to the UK, we dive into what it’s like managing investor relations for a royalty-based company that invests in the mining industry in this episode. Geoff Callow, Head of Investor Relations at Ecora Resources, joins the podcast to share his insights into his role.  

IR Strategies in a Royalty-Based Business Model 

Geoff gives us the background on his 20-year career, from accountancy to financial PR and eventually to IR. He highlights the top learnings from his previous roles and discusses the importance of having both financial skills and strong communication abilities.  

The conversation then explores Ecora Resources' distinctive business model as a royalty-based investor in mining projects. Geoff explains how this structure impacts IR strategies, including the challenges and benefits of managing investor communications for a globally dispersed business. We hear how he communicates with the board and analysts and why and how he leverages external advisors and brokers to explore a broader market perspective.  

In This Episode 

• Geoff’s experience transitioning from financial PR to IR 
• What it’s like to have an in-house IR role 
• How IR has evolved since he first began his career  
• How Ecora’s unusual business model presents challenges and opportunities for IR 
• How the IR team leverages advisors and brokers for an outside perspective 
• Geoff explains how Ecora has invested in communicating through content  
• The challenge of working with KPIs when things are beyond your control 
• The benefits of working in a small team and interacting with the board  
• Geoff’s strategy for getting direct feedback from investors  
• Geoff explains Ecora Resources’ approach to annual reporting  
• How Geoff’s team is starting to experiment with AI 
• Advice for starting your career in IR  

Quotes:  

“It's all data. The analysis and the data lead us in directions to try and capitalise on who the right buyers are.”  

“Being a small company, which doesn't have operational control, the two things the chief exec says we can do well are, we can invest our money smartly. And then we can tell a good IR story.” 

“It's [IR] not just talking to investors but it's actually, I think if it's done well, understanding the opinion in the market, bringing that back in and when you bring that information back into the business and help the business then to make better decisions and more informed decisions, I think that's where it really becomes valuable and people are starting to see the value in that.” 

Resources: 

• Connect with Geoff Callow 
• Ecora Resources 

Is financial acumen or simply good communication the most important ingredient to succeeding in investor relations? Communication and the ability to build rapport with investors is often highlighted as the one thing that sets great IR professionals apart. But in this episode, Karen Keyes, Head of IR at Canadian Tire Corporation (‘CTC’), explains why financial knowledge is crucial when communicating well with investors. 

Don’t Underestimate the Need for Good Financial Knowledge 

Karen joins the podcast to discuss her 20+ years of experience in IR across different industries and countries. We hear about the challenges of managing major corporate events such as acquisitions and shareholder activism, economic downturns, and adjusting to different IR practices in the UK and Canada. 

As we talk about her current role at Canadian Tire Corporation, Karen explains how she manages investor perspectives while representing a beloved national brand. She shares her must-have IR tools, how her team is experimenting with AI, and her thoughts on how IR has changed throughout her career. 

In This Episode 

• Karen gives us the highlights of her career and the challenges she’s navigated 
• How IR practices differ in Canada vs. the UK 
• The top mistake IR professionals make  
• The most transferable skills and steepest learning curves in IR   
• How IR has evolved throughout Karen’s career  
• How CTC maintains brand trust  
• Why financial knowledge is a priority for Karen’s team 
• How Karen’s team manages time and measures success 
• How Karen manages difficult conversations with investors and the board  
• CTC’s approach to ESG matters  
• How day-to-day activities have evolved in the digital age 
• Karen’s thoughts on how AI is useful in IR  
• Advice for entry-level IR professionals 
• The most challenging parts of leading IR 

Quotes:  

“One of the mistakes people sometimes make in IR is getting very fixated on the market and the investor and analyst audience. I think it's really important, to be successful, to be able to transition and think about stakeholder relations.”  

“The biggest feedback for people trying to explore AI for IR would be that it's really about the prompts and it's about human intelligence and learning. So there's no substitute for knowing IR and then using the tool to help you be more efficient.” 

“I think the most transferable skill has been the skill that you acquire by being part of the finance team, how to think about a P&L and a balance sheet, how to think about valuation. You need to be able to sit in a finance leadership meeting and listen for the right information.” 

Resources: 

• Connect with Karen Keyes 

Investor relations in the digital age has seen big changes in the way we communicate with investors and shareholders, thanks to the evolution of technology. In this episode, we dive into how Workspace Group’s IR department has embraced the changes that new technology can offer with Paul Hewlett, Director of Strategy & Corporate Development. 

Technology and Emotional Intelligence Are Key to IR Success Today 

With over two decades of experience in corporate finance and broking and a 14-year stint at J.P. Morgan, Paul has a strong track record of building great client relationships and managing complex investor transactions. He now focuses on accelerating growth and enhancing shareholder value at Workspace Group and joins the podcast to give us a behind-the-scenes look at IR in his team.  

Paul breaks down his career journey so far, what he’s learned and how he’s applied a wealth of knowledge to his current role. We talk about the impact of digital transformation on communicating value and performance to shareholders, the importance of emotional intelligence, and his experience of how IR has changed. Paul tells us that some of the biggest changes in IR have been technology’s impact on the sector and regulatory changes, and he explains how they have shaped his role. 

In This Episode 

• Paul’s career journey and top learnings so far 
• The impact of digital transformation on IR, including the rise of social media and virtual events 
• The importance of consistent messaging and delivering on promises 
• How regulatory changes are shaping the industry, particularly in areas like IFRS and ESG reporting and cybersecurity 
• The growing emphasis on emotional intelligence in leadership roles 
• The critical balance between strategy and execution in corporate communications 

Quotes: 

“People will not always remember what you do or indeed what you say, but they'll always remember how you make them feel. You've got to ensure they feel like they're being listened to and it might not necessarily mean you take all their ideas or indeed any of their ideas, but stay close to your shareholders.” 

“It used to be that IQ is always important. But now it’s more of an understanding as to the people and how to drive them. Not just recruit the right people, but once you've got them, keeping them engaged. I think you're seeing that across the business sector.” 

“If investors understand and believe that you have a product that customers and prospective customers are willing to pay for, you've done a lot to get them there. They are much more likely to become buyers with that foundation of knowledge. And so that alignment and communication is really important.” 

Resources: 

• Connect with Paul Hewlett 

How does a global consumer brand like Etsy manage investor relations? And what does it take to lead IR successfully? In this episode of Enquire, the Investor Relations podcast, we sit down with Deb Wasser, VP of Investor Relations and ESG Engagement at Etsy, to uncover the secrets of a successful IR career. 

The Secrets to Success in Modern Investor Relations 

Throughout Deb’s journey in investor relations, she has taken on roles both on the consultancy side and in-house, switching between the two and picking up expertise and insights from both sides. She shares her unique experiences in this episode, and we hear her perspective on the most important traits to have in modern IR. As a former NIRI board member, we also learn about her work in the wider investor relations community. 

As the conversation explores Deb's experiences at Etsy, we hear about its innovative approach to IR and how it adapted to the challenges of a post-pandemic market. Deb also outlines how ESG ties into her role and why Etsy made the bold decision to make corporate social responsibility a core KPI.  

In This Episode: 

• Deb takes us through her career and how she started in IR  
• Why mutual trust between management in IR is the secret to success in IR  
• How has IR changed since she began her career? 
• An introduction to Etsy and Deb’s role 
• What has been behind Etsy’s successful IR programme? 
• Why Etsy continued the video earnings calls after the pandemic 
• How Etsy’s IR team measures success  
• Where ESG fits into Deb’s role in IR  
• Etsy’s unique approach to measuring ESG performance  
• Deb explains her previous experience as a NIRI board member  
• How Etsy is embracing tech trends in IR   
• Advice for entry-level IR  

Quotes: 

“We're a B2C business, and we are often in the news for good and for bad. And so you have to have really tight comms.” 

“Most investor relations executives are good at many things. It’s a diverse bunch of skills that are critical for success.” 

“Having mutual trust is the secret to success in IR, whether as a consultant or in-house. If you don't have it, it's not going to work.”

Resources:  

• Connect with Deb Wasser