Dirk Toedte from Eastspring Investments is our Sales Manager of the Month

Dirk Toedte is a senior executive in the European asset management industry with extensive experience across distribution, product, and business development roles. He is a CFA Institute Charterholder and CAIA Charterholder, and has also completed the Applied Responsible Investment program with PRI Academy.

He currently serves as Director Distribution Europe at Eastspring Investments, where he leads European sales and contributes as a ManCo board member in Luxembourg. Previously, he held senior leadership positions at Alma Capital Group, Allianz Global Investors, Amundi Germany, and Société Générale.

Across his career, he has focused on European distribution strategy, investment product development, and institutional client coverage.

Looking back at the beginning of your career, what initially attracted you to the world of finance, and which early experiences most shaped the way you work today? 

I was born in Berlin and grew up in the western part of the city before the fall of the Iron Curtain and the Berlin Wall in 1989. Initially, I was attracted to the construction industry, influenced by the ongoing transformation of Berlin, particularly East Berlin and Mitte. After graduating, I enrolled in a dual-degree program in civil engineering and business administration, which also took me to Paris for two years, where I completed a long-term internship at Société Générale Asset Management.

During this experience, my interest in the financial industry was sparked. When I was looking for my first permanent role shortly after 9/11 and the bursting of the tech bubble, SG Asset Management was seeking a junior sales professional to cover the Swiss market. It was a challenging time to start a career in finance, but I have enjoyed working with clients throughout my entire journey.

Financial markets have evolved rapidly with technology, data, and faster information flows. How has this transformation influenced the way you approach your role and communicate with clients? 

Back in the early days, we had large desktop computers and Nokia mobile phones. We already used email and corporate websites, but I still remember senior colleagues talking about looking up NAVs in newspapers. Over the years, the pace of change has accelerated significantly. We moved from Palm Treos and BlackBerrys, which allowed us to read emails remotely, to today’s iPhones, iPads, and cloud-based systems.

Looking back, I spent far more time on the phone than I do today. I still remember our manager encouraging us to have “red ears” from being constantly on calls. Today, communication with clients is more email-driven, complemented by phone conversations, which is likely a reflection of the increased workload faced by fund selectors and asset owners. Overall, communication has become both faster and more efficient.

Are there any widely held assumptions about today’s markets that you think deserve to be challenged or reconsidered? 

Allow me to refer to Carmen Reinhart and Kenneth Rogoff’s book This Time Is Different, published in 2009 at the height of the Global Financial Crisis. A client recommended the book to me, it is highly statistical and perhaps not for everyone, I learned a great deal from it.

The book examines financial crises and sovereign collapses over eight centuries and demonstrates that while every crisis appears different on the surface, the underlying patterns are often remarkably similar. Applying this thinking to today’s markets, themes and narratives may change over time, but the underlying mechanics driving markets remain largely the same. Ultimately, valuation remains key, and assets tend to gravitate toward their intrinsic value.

What themes or concerns are currently dominating your conversations with clients, and how have those discussions evolved compared to a few years ago? 

Clients today have access to a much broader range of investment products than they did two decades ago. At that time, the market was largely dominated by traditional active funds, while institutional investors had privileged access to more sophisticated OTC solutions. Since then, we have seen the rise of equity derivatives, ETFs, index funds, alternatives, more complex structured products, and now cryptocurrencies.

I welcome this broader product landscape, as it allows clients to build more diversified and tailored strategic and tactical asset allocations. At the same time, it means that asset managers must continuously evolve and improve in order to remain competitive.

From your perspective, what qualities distinguish the most effective sales professionals in asset management today? 

To succeed in asset management sales, I believe you need commercial drive, entrepreneurial spirit, strong market and product knowledge, curiosity, and honesty. Over the years, I have seen many colleagues come and go, and those qualities consistently make the difference over the long term.

How do you balance commercial objectives with maintaining client trust? 

My answer is straightforward: clients come first. Without client trust, commercial success is not sustainable. Work hard, stay focused on delivering value, and if strong performance is supported by a favourable market environment, commercial objectives will follow naturally.

What do institutional clients value most in their relationships with asset managers today? 

Many asset managers offer solid products, but success often lies in the details and in going the extra mile. Beyond performance and product fit, clients value reliability, responsiveness, strong risk management, and the ability to provide the necessary regulatory reporting. Most importantly, asset managers must be available and supportive when clients face challenges that need to be resolved.

What would you tell young professionals who aspire to work in sales within the investment industry? 

Be humble, curious, and hardworking.

Outside of finance, what interests or activities help shape your broader perspective? 

I believe it is important to maintain a balanced life. Outside of work, I enjoy spending time with family and friends, having meaningful discussions, and training for long-distance running.