EP32: Peter Reynolds: How to Succeed in IR - Lessons from a 30-Year Career

Enquire, the Investor Relations podcast

While investor relations may have evolved over the past 30 years, some things remain consistent – the value of building great relationships with investors has always been fundamental to building a successful career in IR. As someone with an impressive 30-year career across corporate finance, equity research, and investor relations, Peter Reynolds, Director of IR at Whitbread, joins this episode of Enquire, the Investor Relations Podcast, to share insights and advice gained from IR roles in multiple industries.
How Persistence, Being Proactive, and Getting Direct Feedback Are Key to Succeeding in IR
Peter takes us on a journey through his diverse roles, including his time at Rank Group and PartyGaming, where he built an IR programme from scratch and balanced regulatory affairs with investor communications. He offers his perspective on the evolution of IR over the past two decades, emphasising how the role has become more challenging yet more valued by senior management. Peter shares his approach to staying on top of current information from results days and industry changes and how he uses that knowledge to be proactive in his communications with company boards.
We explore the complex truth around measuring success in IR, with Peter arguing that conventional metrics like share price performance may not always reflect the true value of IR efforts. For Peter, persistence and open communication with investors (sometimes over years) are key to seeing success and tangible results. 
In This Episode

• Peter takes us through his career journey and what has driven him to pursue IR
• What it was like managing regulatory affairs in the gaming industry
• Peter explains the learning curve he had when his role involved political lobbying
• How IR has evolved over the last 20 years
• Tips for keeping on top of information so you can be proactive with investors
• A typical day in managing IR at Whitbread
• How to measure success in IR
• The value of direct investor feedback
• Peter’s experience of presenting to the board
• Whitbread’s typical roadshow schedule
• Why IR teams need to stay on top of ESG matters
• How a digital-first approach has impacted IR
• Peter’s advice for anyone looking to start a career in IR

Quotes:

• "Being in a meeting and just watching that light bulb go on in an investor's head is a magical moment and one that I never get tired of pursuing."
  
• "IR is relatively easy when everything is going well. But when things are in a downturn or business is perhaps not performing well, it's when IR really comes into its own and we have to work the hardest."
  
• “Conventional success metrics are not always what you would think in IR because in many ways you just have to keep going and keep having those meetings and keep banging on the door and then you never know, at the right moment, the investor will pull the trigger.”

Resources:
Connect with Peter Reynolds