A Word with Jonathan Bell

Jonathan, how did your family background in global development shape your interest in EMpower's mission of serving marginalised people?

Both my parents spent much of their careers working in international development in the non-profit and government sectors. My father was stationed with the Ford Foundation in Chile, where I was born, during the Pinochet coup d’etat. Although I was too young to remember, his efforts instilled a sense of urgency to act in uncomfortable situations and highlighted the overlap between fundamental rights and development work. My folks' involvement in international development shaped and influenced my world view about the power of global connectivity and provided a sense of moral and ethical responsibility to give back. I was fortunate to spend time abroad in my formative years, as an AFS student in Brazil and a Peace Corps volunteer in Central America. Furthermore, I studied development economics in graduate school, which has provided a solid foundation to think about the complexity of sustainable development.

When we reached a point at Cape Ann Asset Management, when we were able to contribute, we had a fortuitous introduction to EMpower. The mission resonated with our efforts at Cape Ann, which invests in emerging market equities around the world. The more we learned about EMpower’s work, the more we realised that it dovetails with our efforts not only in terms of geographic overlap but also in providing capital, although at a venture capital scale to NGOs on the ground and, of course, with different performance metrics focused on youth development.

In addition, EMpower is of a size and scale that we feel we can make a tangible difference as an underwriter and providing expertise. I have found my involvement with the Global Finance Committee particularly rewarding.

As we embark on strategic planning in the coming months, what key trends should we be paying close attention to for their potential impact on our work, specifically concerning Finance, a key EMpower constituency?

I believe the jargon that we are using is that we want to “Futurefit” our financial process. To me that means on the revenue side of the equation, we need more consistent growth in Income, continue to ensure diversity of revenue streams and to the extent possible, greater predictability. On the cost side, we need to build reserves and leverage the investments that we have made, particularly in people, to scale further growth. I think we have had a smooth transition in revamping the finance team and I am encouraged by early efforts to push best practice, such as accrual accounting. I also think the finance department serves not just an auditing or reporting function but will be an important strategic element to fit more hand and glove with our programmatic activity in the years to come.  

That's incredibly helpful. Thank you, Jonathan!