Daire Lydon sits down with Conor Hillery, a UCD alum and newly appointed co-CEO of JP Morgan in Europe, the Middle East and Africa.
Earlier this week, I had the pleasure of sitting down with Conor Hillery, the newly appointed co-CEO of JP Morgan in Europe, the Middle East and Africa. A proud UCD graduate, Hillery’s rise through the ranks of global finance has been marked by intellect, empathy and a deeply human understanding of what makes business work. Over the course of our conversation, he reflected on his time at UCD, his unconventional path into banking and the lessons in leadership that continue to guide him today.
Early Years and Education
What were you like as a student in school? Were there particular subjects or areas you were leaning towards?
“Originally, I thought of doing medicine because a lot of my dad’s family were involved in that profession and had medical careers but I came to the conclusion that it would be too much work,” he laughed. “In my later school years, I formed a view that I’d like to do something in business, with no set idea as to what that would be and that’s what took me to study commerce.”
Outside the classroom, Hillery was as rounded as he was ambitious. “I enjoyed golf, tennis, and then I also did music for my Leaving. I used to play the flute and the piano but I have barely picked up those instruments since, sadly. I hope to remedy that one day.”
Life at UCD
When asked about his time at UCD, Hillery’s face lit up.
“Yeah, look, I loved UCD. Commerce was a great degree to do and I would do it all over again. I really mean that. It’s a great foundation for a career in business and it was also great fun. I enjoyed every minute of my time at UCD. I was class rep in my final year, which was mainly about organizing social events and the fun side of university, which is as important as the academic side.
“I think UCD is a very highly respected university internationally. There is an abundance of UCD graduates in London and other international cities who are thriving, and that reinforces its reputation as a great place to study and a great brand.”
The Path to Finance
So when you were studying commerce in UCD, is that where you started to think maybe I’ll go into finance?
“Honestly, I didn’t know. Nowadays people are much more focused at an earlier stage as to what they want to do. I, like many of my peers, didn’t really have a fixed view at all. I just knew I’d like to do something business-related.
“I did accountancy at KPMG in Dublin because somebody told me that it would be a good foundation for a career in business and I really enjoyed that. It was an extension of university in some ways, because there were a hundred local people in our intake and I made some great friends there.
“The advantage of the training I got there was that I learned a lot about how businesses work. When you train as an accountant, you start to understand in a more in-depth way how a business works, how it makes money, how it goes to market and I also made a great network of friends and business contacts for life there. That was a really great foundation but I had no fixed view. I think back then, people were much more random in their thinking and more opportunistic as things came along. So I kind of fell into it and then I moved to London after that.”
A Leap Across the Irish Sea
So you started off in KPMG, then you decided to make the move over to London. How did that play out?
“That was a bit by chance. I had just come to the end of my training period in KPMG. I saw an advertisement in the Irish Times, put in there by a London merchant bank called Kleinwort Benson, and they were looking for newly qualified lawyers and accountants.
“It said, ‘If you’re interested, turn up at the Conrad Hotel in Earlsfort Terrace in two weeks’ time, call this number.’ So I did that, called the headhunter, went along, and six weeks later I started in London. It was quite a big move at the time because it was a big adjustment moving from Dublin, from UCD, from KPMG in Dublin to London. Things were on such a larger scale and it was a new city. However, it was a great opportunity because of the scale and the velocity of things going on there.
“I worked with Kleinwort Benson for a couple of years, and then my former boss there had moved to Cazenove, which was the premier stockbroking firm in London. Cazenove was a partnership, quite a blue-blooded partnership with great connections in the City of London and they decided that they were going to dissolve the partnership and float the business.
“They were going to IPO on the stock exchange and they offered small amounts of equity to people to join the firm. I thought that it would be exciting to join a firm of its lustre and reputation that was going to list on the London Stock Exchange and I got a small bit of equity with it.
“But then things changed and that was one of the lessons for me, things always change. They never turn out the way you expect them to be. They’ll either be a bit better or a bit worse, and you just have to deal with that as you go.
“The markets moved downwards and they cancelled their IPO plans. Then JP Morgan came along and bought half the business, and then bought it outright. That’s how I came into JP Morgan.
“It was an amazing partnership because JP Morgan had compatible values with Cazenove, but it brought to Cazenove’s people and clients a whole new world in terms of capabilities and a global network. That was great for our clients and great for our people because it gave them a whole new breadth of opportunity for their careers.”
On Leadership and People
In JP Morgan, you rose through the ranks and now you’re in an incredibly prominent position, speaking to some of your colleagues, they describe you as a very popular leader. What kind of leader do you aspire to be?
“People sometimes forget in business, it is all about people. It’s people who make things happen. It’s trusted relationships that get deals done. It’s the positive energy and attitude that allow business to happen, investments to take place, opportunities to open up.
“If you build trust with your colleagues and clients, that will enable you to do things that otherwise are very difficult to achieve.
“At the core of it, as a leader, I think to be a leader with impact you need to have real empathy and understanding of your colleagues. You need to have the strength to be direct with them to help them and to help your business. And you also need to have a constant level of curiosity ‘Why are we doing this? Is this a good idea? Could we do it better? Could we do it a different way? Should we be doing it at all?’ Constantly asking yourself these questions, challenging yourself and others in a positive and productive way.
“The foundation of business is the trust that comes from people believing in each other and empowering people to bring the best out of themselves. When I look at the business that I co-run with Matthieu Wiltz, so much of it is about making sure we’re investing in talent, but also people of good character, and then enabling them to do their absolute best.
“That involves encouragement, support, challenge, motivation and career progression. So much in business is about the product and about the capital and about the balance sheet, but more than anything else, it’s about those you work with. They are the ingredients that make the critical difference. That’s one of the reasons why we’ve been successful at JP Morgan and have had the momentum we have in our business.”
Advice for Young Professionals
When you’re hiring or working with people under you in the company, what qualities do you look for?
“You’re looking for people with a positive attitude, who’ll take a risk on themselves and who think big, and who can get on with the job without fuss. They can just get stuff done. They’re good at working as a team and they bring positive energy and momentum to those around them.
“Working hard is important, and being really organised and focused on what you’re doing, but we’re looking for people who can help make things happen with the right attitude. The kind of attitude and personal impact they have is as important as their academic track record and how hard they work.
“As you’re looking to build your career, I’d say - take risks on yourself, back yourself, think big and, if in doubt, believe in your instincts. Sometimes people can be too restrained or don’t have the self-belief. You’ve done all this work, you got this far, you studied hard, you got a great degree, you’ve got great ambition, then go the whole way and really back yourself and take risks on yourself in managing your career.”
Lessons and Influences
Is there a particular book you’ve read that you’d recommend to young people starting out?
“Outliers” by Malcolm Gladwell.
What’s the best advice you’ve ever been given?
“The best advice I was given was by my dad, who said, ‘Just do your best, no more!’ And treat people really well and respectfully.”
Who were your role models growing up? Was it your dad?
“Yeah. My parents actually gave me all the opportunities that I have. The support and encouragement I had to do those things, I wouldn’t be doing them today without that.”
Finding Balance
How do you relax and unwind outside of work?
“I play golf, I ski, I run, and I go back to Ireland quite a bit. My dad’s family were from the west, from County Clare, so I play golf in Lahinch where we have a family home.
“In this day and age, people drive themselves very hard, particularly when they’re thinking about a career in business. It’s very important to take care of yourself and make sure that you have the longevity and energy to do what you do.
“That means having enough balance in your life. Make sure you have enough fun. Work hard, be focused, be ambitious, be organized but also make sure you have fun with friends and family, because that’s what gives you the energy and happiness to get the best out of your talents in the long run.”
A Full Circle Moment
In 2025, you returned to UCD to celebrate the 50th anniversary of the Human Resource Management and Employment Relations Department, in memory of your father, Professor Brian J. Hillery. What was that like?
“Oh, it was very special. We wanted to mark the occasion by supporting prizes that will commemorate the foundation of that department, and also what it stood for. It also brought back memories, my father actually lectured me while I was in UCD. He was professor of industrial relations and human resource management, and when I was in my second year in college, he lectured me and 299 other students, which was, as I’ve said before, quite a nerve-wracking experience on the first day. However he lived up to expectations, so my nerves turned out to be unfounded!”
As our conversation drew to a close he looked back on his journey with gratitude. “The foundation of what I do is where I started with commerce in UCD. I look back with great fondness and happy memories there and I would do that all over again.”