One of the country’s most famous working mothers, Nicola Horlick was labeled “Superwoman” by the media when she successfully juggled a high-flying career in the city, with caring for a large family and a daughter with leukemia. First noticed u the pres when she flew to Germany to argue against her suspension from Morgan Grenfell following a rumour that she was planning on defecting with a team of fund managers, Horlick has always held on tightly to her morals and self-belief to achieve in arguably the most masculine industry in the world. But characteristically honest and upfront, she maintains that there are many other women that deserve the title more than her.

When were you first interested in a career in business?
I’m surprised I ended up in the city – it certainly wasn’t my intention, from a very early age I wanted to be an actress. When I was 17 I had an audition for RADA but I also had a place at Oxford so I went to Oxford and somehow ended up in the city, it must have been fate. I stopped acting completely because I’m the kind of person that couldn’t do something without full commitment, but it was very useful training for business because I can now stand up in front of 2000 people and make a speech without being nervous and without notes. When I’m recruiting I look for people who have done drama and debating, because so much of what we do these days is about communication.

You entered a world of strategic risk, would you say you thrive under pressure?
A lot of women don’t like that kind of pressure, which is why they leave the city and go off and do something else. I can cope with it because I’m a very laid-back person and not neurotic in any way. You need nerves of steel to deal with what I’ve had to deal with in business, and a lot of women aren’t suited temperamentally to constantly having to deal with a large amount of risk, and being measured the whole time. I’ve always recruited equal numbers of men and women graduates, but quite often after two or three years the women go off into other sectors because they don’t like the pressure.

How did you come to join S G Warburg?
I had applied to all of the merchant banks in the city and some stockbrokers, but when I went to the final interview at Warburg’s I noticed it was markedly different. At my other interviews I was the only woman, all of the guys were English and they’d all been to Eton or Winchester, or Oxford or Cambridge, whereas at Warburg it was half men, half women, they came from all over the world and I instinctively knew it was the right one for me. The bank had risen to being the best in the city in a very short space of time because it was a true meritocracy. I really enjoyed it and I threw myself into the challenge, so I did really well, really fast. I was 22 when I started, married by 23, had my first child by the time I was 25, and was director by the age of 28.

What made you decide to set up two businesses up from scratch?
I’d been successful at a big bank, I’d done the turnaround situation at Morgan Grenfell and it seemed that being a start-up with the backing of a big bank was a natural progression. It went incredibly well and was really successful so after selling our stake back to the French after a year, I decided to take on the challenge of setting up a boutique without a big bank behind me. It felt like the logical next step, especially in terrible market conditions with regulators getting more and more demanding. I’m really glad that I’ve done all the things I have because it’s taught me so much about business.

How hands-on are you with Bramdean Management?
Very because it’s a small company and we’re doing really complex things. From the beginning I’ve lead from the front, but it’s a team effort, I don’t believe in hierarchies.

Would you recommend setting up your own business to other entrepreneurs?
Absolutely, but people have got to understand that it’s very nerve-wracking, it’s hard work and you can never really escape from it like you can paid employment because every problem in the business is your problem, and every issue in the business is your issue. But at the end of the day it’s incredibly rewarding, it’s a bit like having a baby and watching it grow into a child and then an adult; it’s a similar sort of feeling of nurturing something. If you have a good idea and you can get the financing, then you should set up your own business. The problem in this climate is getting the financing – it’s really hard to establish businesses at the moment.

What are your thoughts on the G20 announcement earlier this year to regulate hedge funds and credit rating agencies?
I’m glad they mentioned credit rating agencies because I think they were one of the villains of the Bernard Madoff scandal quite frankly. I couldn’t understand why they weren’t being criticised, considering they were leaving pretty high ratings on Icelandic banks until the very last minute and putting triple A ratings on some of these vehicles that had sub-prime mortgages in them. In my view a reform is essential, I’m not exactly sure of the best way to do it, whether regulating them is the right way, or whether it would be better if there was some sort of central credit rating agency where everybody paid money into a pot and got their credit rating out. Either way there definitely needs to be a better system than the current one, which consists of a beauty parade of three people presenting to you and then rating your paper. Clearly they don’t want to disappoint you and get the sack, so it’s actually really corrupt.
As far as hedge funds go, again some regulation is important, but since Lehman Brothers went bust there are only about 6,000 in the world now, their collapse sent a shock wave through the whole hedge funds industry. The truth is there aren’t 6,000 geniuses though, there are only a handful of people who are actually any good at managing money, and regulation will at least help sort out which ones don’t deserve to be in business.

What are your thoughts on the bankers bonus debate?
There were extreme excesses in some of the American investment banks and they were completely unjustifiable. These are team-orientated businesses, why should one person take a bonus of $50 million dollars? Why weren’t the shareholders standing up and saying this isn’t how we want the business run? Why weren’t they making sure there were stronger non-executive directors on the board? It wasn’t just the bonuses; it was the corporate cheques and the whole lot. Our culture has become far too celebrity driven and materialistic, with private jets and chauffeured cars, I think it’s just vulgar ostentation that should be stamped out.  Thankfully in this new climate people are saving more and being more frugal, which in my opinion is a good thing and good for the soul. People have got to get real, there’s more to life than material things.
You’ve been in the public eye for most of your career, how have you found that?
I never expected to be in the public eye because managing pensions isn’t the most exciting job, but there aren’t very many senior business women in my industry so I guess the ones there are, are going to be pursued and covered in detail. It’s been good in some ways because it shows young women that you can have a high powered career irrespective of whether you get married or have children, but on the other hand it does put a lot of pressure on the individual when you’re constantly highlighted, and it causes problems in a team environment. I’m a team player and I get rather sick of the fact that something good or bad happens and they attribute it to me, they miss the fact it’s a business.

How did you feel about being dubbed ‘Superwoman’ by the media?
It’s ridiculous; I’ve always been fortunate enough to earn sufficient money to have plenty of help, so I’ve been able to have a housekeeper and a nanny and Pas, as well as back up support at work. The real superwomen are the single mothers living on council estates on the 14th floor of a tower block with no lift, who bring up three children on their own. Childcare in this country isn’t very good and it’s extremely expensive. Scandinavia has really succeeded in terms of getting more equal numbers of women into senior positions and they have childcare provided and paid for by the state. The problem is they’re more highly taxed and most people would rather have the choice to how their money is spent, but that’s not good enough. I’ve only been able to be a successful working mother because I’ve earnt a lot of money from a very early age so I’ve been able to afford the right kind of help.