JUNE DAVENPORT SHARES HER EQUITY CAREER STORY
Meet June Davenport, FGE, Head of EMEA Trust & Nominee Services at Morgan Stanley at Work and a former long-serving member of the GEO Board.
With nearly four decades of experience in the share plans industry, June's journey has taken her across international borders, working in Canada, the U.S., Australia, the U.K., and now Spain, where she has gained invaluable insights into the challenges faced by large global clients. June has been instrumental in developing Morgan Stanley’s operational infrastructure across North America, EMEA, and Australia.
Let's take a moment to learn more about June as she shares her career journey, the lessons learned from her diverse experiences, and her deep expertise in global equity compensation.
GETTING STARTED AND CAREER MOTIVATION
This happened quite by accident, my business degree speciality was hospitality, and I took a year out to work in Canada, post-graduation. When I received a work visa in Canada a friend suggested I apply for a role in a Trust company posting trades, I didn’t even know it was associated for share plans until I started work in 1985.
Truly, I needed a job and had no idea that I was in the share plan industry – in those days much of the recordkeeping was in simple access databases or ‘horrors’ on manual ledger sheets!
Once I started in share plans, I simply never considered leaving or looking for a role outside of the industry.
This part is easy – every day brings different challenges, you are never bored, you never stop learning, you get to solve complex problems, there is a huge variety of areas to dip your toes and the cherry on the cake - you get to deal with customers (companies and participants).
At the beginning, it was more of a job rather than a career for me, but during my 39 years in share plans I’ve become extremely passionate about the benefits to both companies and participants of having equity incentives as part of their compensation plans.
I’ve been really fortunate to be involved in all aspects of share plans from design, implementation, communications, tax, and compliance to name a few and I’ve seen the difference equity plans can make for participants with alignment to company objectives.
PROUDEST MOMENT AND BIGGEST SUCCESS
Wow, there are so many, but I think they all follow the same theme which is to work with a company and help them successfully launch their share plan.
There are frequently months (or more than a year) of preparation ahead of ‘day one’ and I always felt an incredible sense of pride to be working with a company to help them launch a plan for the benefit of their employees.
Being part a very small but focused team that turned our company profitable when we successfully launched a white label solution, using our share plan system to administer some of the largest plans in the Canadian marketplace.
The technology changed the share plan landscape for companies and participants providing real time transactions, expansive online capabilities and the ability to view plan values in real time.
I could likely rattle off a host of business successes, from acquisitions to the eventual sale of a business where I held a senior leadership role for 19 years - but for me personally it was the recognition from the industry with the when I received the Pioneer Award for 2024 from GEO – this was truly a highlight of my career!
I was raised in a household where I was told, 'if you work hard and do your best success will follow'.
During my career, I have tried to apply that to every job I have held and every project I have worked on – along the way I’ve learned that it’s not just about working hard that creates personal success, it’s about the team you work with, building enduring relationships, giving back and supporting others whether through knowledge sharing, mentoring or just being a shoulder to cry on when things go awry! Celebrating the success of others seems to create success for you too.
My main challenges were working more than full time hours while trying to build a business and raise three children.
FAVOURITE SHARE PLAN
At times I wasn’t sure this was the favourite share plan I worked on, but this plan was certainly the most complex I’ve experienced.
The plan has long term incentives, a share purchase program trading on four exchanges, dividends paid in four different currencies, participants in over 30 countries, multiple custodians and complex money and share movements.
For me, the key to the plan's success was its strong focus on participant outcomes and the simplicity of communication.
Although the plan was extremely complex from an administrative standpoint, the consistent messaging ensured that participants never encountered this complexity. This even applied to mobile employees dealing with multiple contribution purchases, shares, and currencies across different exchanges.
Despite the inherent complexity, the plan achieved some of the best participation rates I've ever seen.
ADVICE, KNOWLEDGE AND INSIGHTS
Trust in yourself and don’t be afraid to say, ‘I don’t know, but I’ll get back to you’.
Sometimes you don’t need perfection – good enough or close enough is okay.
Have patience with yourself. Today’s share plan industry is complex with all the global nuances, rules and regulations and sometimes it can seem overwhelming; but little by little all the pieces start to slot into place and just when you think you ‘have it all’ – just like that something changes and you have to start learning all over again.
How can they best position themselves for success in this field?
Be curious, learn from others, don’t be afraid to ask for help, make friends & maintain relationships in the share plan community) – they are invaluable as you navigate your career.
There are far too many to identify just one!
What did you learn from that experience?
I was fortunate to work with an individual who indicated that you don’t lose your job for making a mistake, but you need to be able to hold your hand up and say, ‘yes I made a mistake’ and then be part of the solution to fix it.
The same individual told me you don’t learn from success you learn from mistakes, which I think is very true, so treat each mistake you make as a learning opportunity.
Tailor your communications to the party/parties receiving it. I think we all have our own approach on how we communicate but with experience (maturity!) I’ve discovered that you can be quite a bit more effective if you consider your audience before you do a presentation, have a dialogue with a colleague or send an email.
How has this knowledge impacted the way you approach your work now?
I have to remind myself every day that ‘more is less’ ? Keep things simple.
In the share plan industry, there are countless individuals I've admired and continue to look up to—far too many to list them all here.
There are so many individuals within companies who have passion for their craft and are truly excited by the ability to change people’s lives through their equity plans.
Equally, if I look at the advisory firms, Trust companies, administration providers, communication experts who specialise in the industry, there are likely hundreds of people I admire for their depth of knowledge and passion for this industry – potentially many of them come to GEO conferences, but each brings something unique to our industry.
I believe there's always something to learn from others, regardless of their role. Whether it's a call centre agent calming an irate participant, a customer service manager building strong relationships, a technologist crafting innovative solutions, a tax professional applying their expertise to share plans, or a financial reporting expert simplifying complex concepts—everyone excels in ways that inspire me.
FUTURE OF EQUITY
It will be interesting to see how the evolution of AI will improve/change the share plan industry. I also see share plans becoming more imbedded as part of holistic programs that support employees.
Hopefully we will also see changes from regulatory bodies that would allow share plan design to design plans that recognise the changes in the workplace such as shorter employment periods at one company.
PERSONAL CAREER GOALS
Yikes, after 39 years in the industry, maybe slowing down a little ?
There are always things to learn and so many resources available – my favourite of course are the GEO conferences, chapter meetings and webinars.
My Equity Career aims to uncover the personal and professional journeys of select GEO members in the share plan industry. By sharing their experiences, we hope to provide valuable insights and advice for those interested in or currently working in our field.
Through these stories, we seek to celebrate the diverse paths, challenges, and achievements that shape our global community, offering inspiration and guidance to both newcomers and seasoned professionals alike.