Phil is a co-founder and Chief Executive of Ricardo Research. He manages the business, contributes to the development of new intellectual capital and acts as a consultant to large institutional investors.

Phil has over 15 years’ experience in the pensions and investment industry. Before co-founding Ricardo Research, Phil was a Partner and Global Director of Strategic Research at Mercer. In that role, Phil had responsibility for developing intellectual capital on strategic and dynamic asset allocation, new asset class ideas and broad themes relating to the economic environment. Phil has worked with large institutional investors in many countries to help them address a wide range of investment challenges.

Phil is a regular speaker at conferences and industry events and is often quoted in the press. Phil holds a first class degree in Mathematics from the University of Warwick and is a Fellow of the Institute and Faculty of Actuaries.

Our Latest Idea

A model of imperfection

Mainstream finance theory offers an idealised view of how financial markets work and, as a result, fails to provide practitioners with a useful basis for decision-making. By studying the effects of delegation from asset owners to asset managers, we develop a more realistic and useful understanding of financial markets and point towards actions that would improve outcomes for savers and wider society.

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Misdiagnosing the crisis of capitalism

Much of the commentary on the crisis of capitalism ignores the role of institutional investors in creating the conditions in which corporate short-termism can thrive. We argue that a greater focus on long-run value creation in the capital markets – instigated by long-horizon asset owners – could help restore trust in the financial system and deliver meaningful benefits to society.

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