In our recent podcast episode with Adam Borgatti, we explored how investor relations officers (IROs) can expand their scope of responsibility while managing growing teams and maintaining excellence in their core functions. Adam shared valuable insights on natural expansion areas, building credibility, and developing high-performing teams.
According to Adam, several areas present natural opportunities for IROs to expand their influence.
Strategy is a natural fit because IROs occupy one of the most strategic positions within a corporation. Being at the nexus between the investor community, analysts, C-suite, and operational executives positions IROs to provide valuable strategic advice across the ecosystem.
Corporate communications and affairs, both internal and external, align well with IR because maintaining consistent messaging across different audiences is crucial. While messages may be tailored for different stakeholders—employees, investors, C-suite, media, and social audiences—the core themes should remain consistent to avoid diluting the company's message.
Sustainability and ESG represent another natural expansion area as these worlds continue to converge with financial reporting. Working with investors who have ESG mandates and helping companies achieve net-zero targets creates natural synergies with IR functions.
Corporate development can be another pathway, though Adam notes this typically requires prior experience in private equity, investment banking, or transaction services. Unlike other areas, it's more challenging to develop these skills on the job.
To position yourself for access to opportunities, Adam recommends three key strategies.
First, demonstrate your ability to provide strategic advice. IROs should remember they're not just vehicles for conveying company strategy outward—they have unique insights from analyzing competitors, gathering market feedback, and understanding trading dynamics beyond fundamentals.
Second, invest in your education and accreditations. While most IROs have foundational degrees (CA, CFA, or communications), pursuing additional certifications like CPIR or IRC can be valuable. Taking courses in sustainability, financial reporting, or AI can also help you stay current.
Third, volunteer for special assignments and task forces. This allows you to demonstrate your capabilities and positions you as a natural choice when new opportunities arise. Adam notes that it's rare for people to decline volunteers for new assignments.
“I love when people can be proactive rather than just do the task at hand. They do extremely well in certain cases, but you've got to come forward with your colleagues, your peers, and others and just say, ‘I was thinking about something. I decided to invest in it. And here's the output.’ I think that's tremendous.“
As responsibilities grow, Adam emphasizes the importance of investing time upfront to understand new areas thoroughly. He encourages adopting a "no such thing as a dumb question" mindset early on, as people are typically willing to help those who show genuine interest in learning.
“Take the time early on to try and get as much information and feedback as possible. You've got to be pretty dynamic and trusting as a leader and a partner. And as responsibilities shift, you'll be taking on new teams and there will inevitably be a get-to-know-you period.”
When taking on new teams, Adam stresses the importance of understanding their strengths and areas for improvement. This involves spending time with team members and demonstrating the benefits of alignment across different functions. It's also an opportunity to provide stretch goals and development opportunities for emerging leaders.
“It's tough to get best practices from others in the organization. But it's an excellent opportunity to provide stretch goals, opportunities, and mandates for emerging leaders and high potential people within your company to give them a more diverse career and a subset of opportunities within your company.”
One of the biggest challenges for growing IROs is letting go of the aspects they excel at—such as investor engagement and management relations—to create space for new responsibilities and team growth. Adam references Marshall Goldsmith's book "What Got You Here Won't Get You There" as a valuable resource for navigating this transition.
“It's tough for IROs, in my view, to really let go of what we love to do the most, which is engaging with investors, being that conduit with management, doing all those things that set you up for career success. You'll have to start letting that next generation of leaders come up and take some of those over as you inevitably have to take on more responsibility and strategic oversight for these new parts of your portfolio.”
To gain more strategic influence and “a seat at the table", Adam emphasizes the importance of:
When providing feedback to management, it's crucial to depersonalize the message and frame it as market feedback rather than personal criticism. This approach helps maintain productive discussions and ensures the focus remains on improving company performance and communication.
Through these strategies, IROs can successfully expand their influence while building strong, capable teams that drive value for their organizations.
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