Jenny Johnson - Seven Decades of Investing Expertise

**Patrick O'Shaughnessy** (0:00)
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Hello and welcome everyone. I'm Patrick O'Shaughnessy and this is Invest Like the Best. This show is an open-ended exploration of markets, ideas, stories and strategies that will help you better invest both your time and your money. Invest Like the Best is part of the Colossus family of podcasts and you can access all our podcasts including edited transcripts, show notes and other resources to keep learning at joincolossus.com.

**SPEAKER_2** (2:10)
Patrick O'Shaughnessy is the CEO of O'Shaughnessy Asset Management. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of O'Shaughnessy Asset Management. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.
Clients of O'Shaughnessy Asset Management may maintain positions in the securities discussed in this podcast.

**Patrick O'Shaughnessy** (2:35)
My guest today is Jenny Johnson, President and CEO of one of the world's largest asset managers, Franklin Templeton. Jenny joined the business in 1988 and has worked in the organization ever since. In early 2020, she became CEO of Franklin, which now manages some 1.5 trillion in assets under management.
I should of course note that I met Jenny as our two firms explored a partnership, which we cemented three months ago when we announced that Franklin Templeton would be acquiring O'Shaughnessy Asset Management. During our conversation, we discussed Jenny's thoughts on leadership, how she manages the needle moving problem that afflicts many large companies and the ways in which she sees private markets becoming more accessible to retail investors in the future. Please enjoy this great conversation with Jenny Johnson.
So Jenny, I was toying with where to begin our conversation today. We're gonna talk about so many different areas of interest, but leadership is one that to me, having spent a little time with you, I'm perhaps most interested to dive into the details on. So my opening question for you is about the roles of a CEO, both things that the CEO should do and shouldn't do. I'll start with the positive, the things that a CEO should do. What do you think are the most important roles and functions of a leader in the CEO seat?

**Jenny Johnson** (3:46)
I always like to say that I came up with my four P's of leadership. And so I'm going to start there and it's people, passion, purpose and persistence.
And I think people, one is, what's the job of the CEO? The number one job is to get the right team, get the right people who are running things. Passion, love what you do, and you're not going to work a day in your life. If you don't love what you do, chances are you might be good at something, but you're not going to be great at it. There's going to be other people who are just more passionate and think about it more often, and they're going to be much better at it. So you got to love what you do.