People focus

John Carran

Vice President, Investment Strategist and Economist

Drawing on his understanding of economics and leading investment strategies, John develops practical investment ideas for client portfolios. He strives to ensure his investment insights and solutions are delivered in an accessible way.

John has more than 30 years’ experience as an economist and investment strategist. He was previously a Portfolio Strategist and Senior Economist with Kiwi Wealth, an Economist with Infometrics, and an Analyst and Manager with the New Zealand Treasury. John regularly comments on economic and financial matters in the media. He has a BCA (Economics - Honours) from Victoria University of Wellington.

When he’s not keeping up with his children’s various activities, John is a keen road cyclist and competes in local club events.

Where did your passion for economics come from?

I always had an interest in politics and what was happening in the economy. During the 1980s, I started my first job in customer services, at the former National Bank, in Te Puke – near Tauranga. It was during the early 1980s, a period of major economic reform in New Zealand with ‘Rogernomics’, and popularity in the share market was at an all-time high.

I went straight from school into the bank, and then moved down to work in Wellington. I loved being close to the pulse of government, and also had an interest in how the economy worked, so decided to study economics. At its core, the field is about exploring how people behave and react to developments in society and incentives. There is sometimes a perception that economics is all about charts and numbers – and these are an important part of the picture. However, we use data to illustrate and help people and businesses prepare for various outcomes that can affect them.

Tell us about your experience working for The New Zealand Treasury?

I was fortunate to get a position in Treasury a few years after graduating. With my interest in the political system, it was a goal of mine to work there. It made for 12 years of really interesting work, across several finance ministers, close to the coalface of government.

Towards the beginning of my time at Treasury, I had a role monitoring and providing advice on the goals of the Reserve Bank of New Zealand. The Bolger Government had just gone into coalition with New Zealand First and we were working around-the-clock as they negotiated changes to the Reserve Bank’s mandate. It was fascinating to be involved in the process of political compromise – helping form an agreement that satisfied both parties.

Following an opportunity to move into the Treasury’s international team, I then worked with other financial ministries around the world. We attended forums like APEC, and IMF meetings. When drafting joint statements as part of these forums, I was able to learn more about developing arrangements that landed on a common ground.

In economics, there can be a temptation to be quite purest with your evaluations. Treasury taught me more about political realities and practicalities, about how to adapt and find the best solution that works towards wider objectives. Equally, you were also trained to focus on details, within an environment of robust analysis. It gave me a comprehensive grounding of monetary and fiscal policy – two major factors that can move markets.  

After more than a decade working in the public sector, what brought you into the private sector, and your role at Jarden?

I took a bit of a measured transition into the private sector. When I first moved from Treasury, I undertook consulting work with Infometrics – back to where I actually had my first job as a graduate. It was varied work, across a range of regional and local governments, government departments, and not-for-profits.

I’d had a constant interest in investing and took an opportunity to join Gareth Morgan Investments (now Kiwi Wealth) as an investment strategist, where I worked for seven years.

What drew me to Jarden was the opportunity to join a more bespoke wealth management company. Our wealth management advisers provide tailored solutions, and I share insights that assist with these decisions and recommendations. I look at what’s happening at a macro-economic level – socially, politically. It’s about examining what’s driving markets, and the associated risks and opportunities for our clients in their investments.

What do you find unique about working at Jarden?

The culture at Jarden is fantastic. We are ambitious – for our clients, and our team. With this comes an openness and encouragement for new ideas and ways of thinking, all focused on working towards the best outcomes for clients.

From our quarterly Investment Outlook reports to asset allocation models, I’m able to work across a broad range of areas - applying economics to investment strategy, backing the recommendations our advisers provide.

At a broader level, I am proud to be part of a company that contributes significantly to the financial infrastructure of New Zealand, also building this out in Australia.

What advice would you give to those looking to pursue a career in economics?

Passion and interest are key. There are many routes into a career in finance and economics. While studying finance at university is valuable, there are also people from a variety of different backgrounds and degrees in the industry – all contributing knowledge from a range of areas. These can vary anywhere from political science and sociology to chemistry and mathematics. There are technical aspects you’ll need to know, and you need to be prepared to do extra study. Although with many courses available, it need not be a barrier and another degree won’t necessarily be required.

Internships and graduate programmes can be a great place to start out in the industry. Alternatively, finding a job in the sector – even if not in a ‘finance-focused role’ - can give you an introduction to the industry.

Continue to ask questions and engage as you build up your experience and keep up an entrepreneurial spirit. A career in the financial sector can provide a wealth of opportunities for you to learn, develop, and make an impact.