Almost anyone at the sharp end of the investment sector would envy the role Ashley Dale now has. He doubles as chief marketing and chief business development officer of Harvest Global Investments, charged with building the firm’s international profile and assets under management (AUM).
That is no small task. But with mainlanders keen to diversify their portfolios and major overseas institutions looking to tap into China’s growth, it offers exciting opportunities to work with sovereign wealth funds, insurance companies, private banks, pension funds and family offices.
“We act as a two-way street in Hong Kong, directing money from China to the rest of the world and attracting international money into Chinese assets.” Dale says. “My job is to provide a global structure and to sow trust in a brand that, two years ago, no one had really heard of outside Asia.”
In fact, the Beijing-headquartered firm is 20 years old, has around 1,300 staff and AUM of roughly US$120 billion. And with more mainland savers moving their money from “under the bed” and China continuing to drive Asia as a whole, Dale is confident the long-term trends are upward.
He started out in Slough, west of London, where his mother and stepfather ran a pub. He attended the local grammar school and, early on, was interested in travel and wanted to earn his own money. Aged 14, he took part-time jobs at the local Woolworths and, later, at a high-street chain selling jeans and cheap T-shirts to relatively poor young shoppers, a “brutal” experience but also a crash course in how to sell.
“For me, independence was the key thing; I had to break out,” he says.
So, after A-levels, he took off to travel around Europe, paying his way as a grape-picker in France and a ski instructor in Austria. It was carefree and fun, but ultimately heading nowhere.
“I realised I had to do something with my life and needed role models and discipline. The army seemed a good place to start.”
Accordingly, he signed up in 1987, aged 19, as a raw recruit sponsored by the Royal Artillery and, a year later, was selected for officer training at Sandhurst.
“They clearly saw something in me that I hadn’t,” Dale says. “It provided me with a brilliant structure, real motivation and a sense of community and brotherhood. I had the time of my life and loved every moment.”
On being commissioned into the Royal Tank Regiment, he went straight to Germany, but was soon required for an emergency tour of duty as an infantry soldier in Northern Ireland. In the early nineties, the situation there was extremely tense, and he had to retrain tank drivers and lead 30-strong foot patrols in some of the more dangerous areas of “bandit country”.
“We had to deal with snipers, mortar attacks and fire from heavy machine guns. It was crazy, but incredibly exhilarating. You’re putting all the things you’ve learned into practice.”
After that first tour, he went back to Northern Ireland as a captain with a different regiment, working in intelligence and planning undercover operations. The roster called for 20 days on, 10 days off, which meant Dale could spend time back in London, meet friends doing well in other fields, and start thinking about longer-term options.
Crucially, during those breaks, he also met his future wife, who was in publishing and made it very clear that a military life was not for her. So, in early 1995, Dale left the army, married soon after and, at a book launch, happened to meet someone who worked for a leading bank and could offer a job.
“In those days, it was easier to use the military connections to find a career, so I joined Barings—and within four weeks they swiftly went bust. They had hired me to sell research and Asian equities to UK and European asset managers. At the time, I had no idea about any of that, but I suppose they saw me as someone with a different kind of experience. And they realised that a few years in the military arms you with a lot of transferable skills, especially for communicating, getting an idea across, thinking on your feet, and getting things done.”
One condition of the bank’s sale to ING was that all staff were kept together, so Dale stayed on and soon showed a real talent for sales. He loved the hunt and meticulously built up detailed client records: who had long-term horizons, who preferred value to growth, and who just liked talking about football.
Back then, when everything was done by phone, there was a maximum of 20 seconds to make an impact, so he would practise his pitch with his wife, script everything for a morning call, and put in hours of research.
“Knowledge is power, so I read relentlessly and still do,” he says. “And as I moved up the managerial rungs, I realised a good team needs analytical types, quant-driven sales, plus incentives and structure to get the dynamic right.”
Successive steps saw him sent to Asia by ING to learn the ropes then back in London for four years selling Asian equities for Societe Generale. There were two spells with CLSA, bracketing time with a hedge fund, and a move to Hong Kong with South Korean asset management firm Mirae, before arriving at Harvest Global in mid-2016.
“I saw it as a tremendous opportunity,” he says. “This company is very supportive and willing to listen, so there is no reason it shouldn’t go well.”
With five children, family comes first, but Dale is also training hard for this year’s London marathon, a celebratory challenge to mark the end of a successful personal battle with leukaemia.
“I’m also heavily involved in a Cambodian children’s charity and I’d like to find time to do a degree.”
