Mark Makepeace, the new CEO of Wilshire, talks about what it takes to step into the leadership of a company with an established culture and legacy. It's one thing to lead a start-up like FTSE Russell, which he founded in the 1990s, and another to lead an established company like Wilshire. "It's about listening to the talent." Summary: Behind our industry's current focus on technology-enabled investing is the story of the rise of stock market indexes from their original role as economic indicators to their place at the heart sophisticated passive investment vehicles that now account for 40% of the market. Having shown that technology is better at stock picking than humans, index providers are well on their way to becoming virtual investment managers. Larry Black, the managing partner at BlackMoss, continues our Leaders Lounge conversation with Mark Makepeace, who led the index provider FTSE Russell from its founding in the 1990s until 2019. He has now re-emerged as chief executive of Wilshire, the Los Angeles-based consulting firm and asset manager, and home of the Wilshire 5000 index. They talk about the future of investment management and Mark's approach to his new role. Topics we discussed: · Why Wilshire? Where does Wilshire sit strategically within financial services? · How do leaders go about getting teams on board for change? · What role will technology play in the evolution of financial services? · Are index providers emerging as virtual investment managers? · Does the investment industry face a threat from the big technology companies like Google, Amazon and Microsoft? Wilshire, Wilshire Associates, FTSE, FTSE Russell, LSEG, London Stock Exchange, LSE, index, indexes, indices, ESG, Smart Beta, FTSE4Good, passive investing, MSCI, Wilshire 5000, Refinitiv, London, Big Bang, Dow Jones, FT, Financial Times, FTSE100, Brexit, Roger Moore