Antonella, struck on the path to asset management
“After graduation, everyone wanted to work in investment banking, but instead I wanted to be an asset manager because I had a passion for the quantitative aspects of finance and investment.” Antonella Di Chio is the deputy head of NPL (non-performing loan) Strategy at Algebris Investments, and in 2019 she was named Young Investment Woman of the Year at the Women Investment Awards – Italy.
Her lucky break? Finding a job in a company where meritocracy is the engine of growth. “After an exchange program in London,” she says, “I decided to continue my studies in finance with a Master’s degree. Thanks to a friend from university, who insisted on going to a conference even though I was preparing for financial mathematics, I listened to Davide Serra, the founder of Algebris Investments. He talked about his company, which was still medium-sized at the time: he had around $2 billion under management, compared with almost $19 billion today.” Di Chio was thunderstruck!
In her words: “I was struck by his straightforward storytelling and the fact that it showed a young, meritocratic, entrepreneurial culture. I applied and it went well: I was accepted for an internship in London, where I actually only stayed for a short time. Serra was launching a new fund investing in NPLs, with a dedicated unit in Milan.” So Di Chio, who was not an expert in NPLs, returned to Italy and specialized. She played a part in the market boom thanks to “an approach more of an entrepreneur than an employee.” The division was set up, partners came on board who handled NPL management and recovery, and today NPL Strategy is staffed by about 40 employees.
Di Chio eventually took her current title of Deputy Head in this division. As far as her career path, Di Chio explains that being a woman has never been an obstacle, despite the generally hierarchical and male-dominated world of finance: “At Algebris, what counts is competence and the will to succeed. Gender and age have always been secondary. On the outside, however, I came up against some prejudice, especially when I was young: from not being taken seriously as an asset manager to inappropriate comments about my appearance at a private bankers’ convention. When I say that we women have to work twice as hard, I’m referring to these situations.” But she learned to respond, to shield herself from gender bias and to make her technical skills count even more, in the knowledge that true equality is a complex path, but it is possible, even in finance.
She stresses: “Young women need to know that there is room for them, and they shouldn’t let the prejudices in other people’s heads get them down. Even the stereotype that women are not suited to STEM subjects should be “returned to sender,” as I see it. In terms of commitment and passion, I would tell my future women colleagues to look for companies that reward merit; don’t be afraid to make mistakes, and if you fail, stay resilient and focus on succeeding when the next challenge arises.” For Di Chio, who recently became the mother of a baby girl, the other key to creating a healthy working environment is for women to help one another in the workplace: “Surrounding yourself with talented women who can understand you, support you and help you – I guarantee, it makes all the difference.”
