“Graduates challenge us to think differently”: how LGPS Central is bringing through new talent

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LGPS Central

In our ongoing series looking at how the LGPS can bring new talent into the industry, we hear how LGPS Central is using its grad scheme to bring fresh ideas to its business

For finance graduates, the leap from academic theory to real-world investment can be a daunting one. LGPS Central is looking to bridge this gap through its two-year graduate programme – achieving this through one underlying training philosophy: to make technical and personal development go hand in hand.

“Our programme combines in-team rotations across front, middle, and back office with professional qualifications, while also providing mentoring, soft-skills training, and opportunities to take on responsibility for delivery,” explained Anouska Ramsay, the pool’s chief people and transformation officer.

“This balance ensures our graduates develop the confidence, communication skills, and personal qualities needed to excel, not just the technical expertise.”

The programme has evolved since its launch in 2019, said Ramsay, with the pool formalising career pathways and embedding more peer mentoring and coaching.

Rotations at the heart of the scheme

At the heart of the programme are its rotations, giving trainees the chance to experience a range of disciplines including active equities, fixed income, responsible investment and private markets.

By doing this, graduates can develop a well-rounded understanding of investment management, identify where their strengths and passions lie, and build transferable skills that set them up for long-term career success.

The programme has been improved over the years. Ramsay explained: “Feedback from past graduates has helped us refine the balance between structured training and hands-on responsibility, ensuring the scheme continues to develop talent that can grow with the business.”

One individual who played his part in helping to make these improvements was Sanesh Patel, who was part of the scheme’s inaugural intake.

For him, the rotations were key to the appeal of the scheme as they gave him an opportunity to work across various teams and gain a well-rounded experience of investment management, all while being part of a fast-changing pension pooling environment.

He added: “Entering the graduate programme, I had no bias towards any particular asset class, so having different rotations helped me decide which one was right for me. As a graduate, I spent time in private equity, programmes, active equities and fixed income.

“Having exposure to these teams allowed me to gain a broad understanding of how the company operates and gave me the chance to work on varied challenges. It also helped me develop a well-rounded knowledge base and experience in the industry.”

For him, one rotation proved particularly revelatory. “During my graduate programme, the private equity asset class particularly stood out to me, which interestingly enough, was the asset class I knew least about when I joined the company,” he explained.

“Private equity offered a huge learning opportunity from an experienced and inclusive team. During my rotation, I found myself applying my passion for working with numbers, building models and writing investment memos.

“As well as the interesting work behind the desk, I had exposure to meeting several different fund managers, networking, and learning about the different strategies each one had to offer and how that translated into transforming businesses.”

Qualifications and soft skills development

Alongside the hands-on experience, which combines front, middle and back-office work, graduates complete the Investment Management Certificate (IMC) as a core requirement.

The company also supports those who wish to pursue further qualifications such as the CFA with ESG specialisation for responsible investment, CAIA for private markets, or the more generalist CFA route.

The programme also offers soft skills training and opportunities to take on responsibility for delivery. This balance, according to Ramsay, is designed to ensure graduates develop the “confidence, communication skills, and personal qualities to excel”, not just the technical expertise.

That mix resonated with Christopher Gautret, who is currently on the graduate scheme. Having first invested at age 15, he nurtured his early interest through studies at the University of Warwick and a placement in asset management, before joining LGPS Central’s scheme.

“It offered a broad view of investment management, exposure to different areas of the business, and a chance to specialise over time,” he explained. “That combination really appealed to me.”

Mentorship, he added, has been just as valuable. He said: “The people within the teams I’ve worked with are always very knowledgeable about their fields and keen to share that knowledge, and that has been essential in developing my understanding of financial services and enabling me to contribute meaningfully.

“They have also been great mentors in developing my own personal ambition and career direction, offering guidance whenever I have needed it.”

The programme also develops skills beyond technical expertise. Patel explained: “Networking is an invaluable skill which I learnt and developed during the graduate scheme.

“Not only did I network within LGPS Central while working in different teams, but I was able to network externally, meeting with various fund managers, each with their own specialities.

“Developing the ability to network with different people across various asset classes has given me the confidence and ability to now comfortably attend annual meetings alone, representing LGPS Central, and maintaining positive relationships with fund managers.”

Building a mentoring culture

Given the scheme has been running since 2019, the business has benefited from recent graduates becoming mentors themselves. One individual who has taken on a mentoring role is Sanesh, who is keen to put his experience to best use.

He said: “Having been in their shoes, I can be relatable and talk about my own rotations including the opportunities I was given and the challenges I faced, as well as how I navigated them.

“After nearly six years at LGPS Central, I have gained a good understanding of career development for a young professional, which is what most graduates are keen to learn about since this is often their first job.

“My experience allows me to help graduates understand the different career paths available and what they can do to help achieve their goals. I’ve also acted as a sounding board for our graduates to encourage them to talk openly about their current experiences and what they want to gain from the programme.”

Measuring success

When it comes to measuring the success of the programme, there are three key areas that LGPS Central assesses.

Ramsay explained: “We measure success through the career progression of our graduates, their professional qualification achievements, and the impact they make within teams during rotations.

“For the business, success is demonstrated by the energy and innovation graduates bring, the long-term talent pipeline they create, and the way their fresh perspectives contribute to building an inclusive, high-performing culture.”

This capacity to bring fresh ideas, curiosity, and energy is key to why the pool is investing in new talent. Ramsay added: “Graduates challenge us to think differently, adopt new approaches, and build for the future.

“By investing in their development, we are creating a pipeline of future leaders who will carry forward our mission of delivering strong, sustainable investment outcomes for our partner funds.”

Another key aspect of the graduate programme is its diversity and inclusion principles, achieved through initiatives like Discover Finance – which has broadened access to careers in investment for underrepresented groups.

Ramsay added: “This has brought new perspectives and strengthened the quality and inclusivity of our graduate intake. Our membership of the Diversity Project also gives us access to the Pathway Programme to support our female investment managers.”

From theory to practice

The programme puts academic understanding of the investment management world into practice. Gautret explained: “It has added massively to my understanding of the investment management industry as a whole.

“Before joining, my understanding was largely shaped by academic studies and a prior internship, which offered a more traditional view of asset managers and GPs.

“By contrast, LGPS Central operates in a distinct space. It is a pool at the service of the LGPS aiming to work as both a cost saver and investment performance enhancer, while working in close collaboration with pension funds to deliver these.

“This resulted in exposing me to a universe of its own within financial services while giving me a new perspective on the very purpose of investment management, and the decisive role it can play in supporting the pension system and potentially nurturing domestic growth.

“It has made me think of the field in a more holistic way, considering total portfolio management and the key roles each asset class has in fulfilling different essential purposes. As a result, I’ve developed a more complete view of investment management, portfolio construction, and asset class dynamics.”

Key characteristics for success

When it comes to those looking to enter the industry, Ramsay believes curiosity, adaptability, and having a collaborative mindset are key.

She added: “We look for people who are analytical and ambitious, but also strong communicators and team players. In a fast-changing industry, resilience and openness to learning are just as important as technical ability.

“Graduates who combine these qualities with a passion for responsible investing will find themselves well placed to thrive at LGPS Central.”

Reflecting on how the scheme has supported him, Gautret said: “My experiences in investment operations and client services have allowed me to gain a strong understanding of how an asset manager functions and a holistic view of the asset classes LGPS Central invests in.

“I’m excited to apply this skillset over the coming year as I rotate through front office roles across multiple asset classes.

“These recent rotations have provided a strong foundation for a long-term career in front office functions, and I believe they’ve given me a more well-rounded skillset and deeper understanding than if I had entered a front office role directly – something I am convinced will be essential going forward.”

LGPS Central’s graduate programme stands out as a dynamic and evolving initiative that bridges the gap between academic theory and real-world investment practice.

Through structured rotations, professional qualifications, and a strong emphasis on mentorship and soft skills, the scheme equips graduates with both technical expertise and the personal attributes needed to thrive.

The programme’s success is evident not only in the career progression of its alumni but also in the fresh perspectives and energy they bring to the organisation. By fostering diversity and inclusion, LGPS Central is broadening access to investment careers and enriching its talent pipeline.

Ultimately, the scheme is more than a training ground – it’s a strategic investment in future leaders who will help shape a more inclusive, innovative, and high-performing investment culture.

As Ramsay aptly puts it, graduates challenge the organisation to think differently, ensuring it remains agile and forward-looking in a fast-changing industry.