For Marney McCabe, Head of Relationship Management for Fidelity Agency Lending, what began as a “chance entry” into the industry quickly turned into a dynamic career, marked by a focus on relationship management, strategic insight, and a commitment to mentorship. In an interview with Traders Magazine, she reflects on her professional journey, the changing needs of clients, and how trust, customization, and technology are shaping the future of agency lending.
Can you tell us about your career journey—what led you to securities lending and ultimately to your role at Fidelity?
I actually stumbled into securities lending by chance, but quickly became hooked. My background in finance and passion for client engagement made the transition feel natural, and over time I evolved from an individual contributor to leading global client relationships. After 16 years with another firm, I was drawn to the Fidelity Agency Lending vision, particularly being so focused on the client experience, which made the move an exciting next step.
As someone who has been so engaged in the Women in Securities Finance group in Boston, what inspired you to get involved in this initiative, and how has the landscape for women in finance evolved since you began?
I’ve always been passionate about mentorship and creating space for women to grow in the capital markets space. Serving as a senior leader with the Women in Securities Finance (WISF) group has been a way to formalize that mission by offering a platform for connection, support, and opportunity. I’m proud not only to have seen WISF grow in scale and impact, but also to see many individuals into active allyship through the group.
Relationship management has always been a people-driven function. How have you adapted your approach in today’s increasingly digital and remote environment?
Relationship management has always been about personal connection. While in-person interactions remain important, technology has allowed me to stay closely engaged with clients in a virtual environment. In today’s fast-paced world, whether you’re remote or in-person, building trust and strengthening relationships is still essential to my role and something I thoroughly enjoy.
What are some key traits or actions that still define a “strong relationship” with clients, even when face-to-face interactions are limited?
Strong relationship management is rooted in staying one step ahead of client needs. While face-to-face time is valuable, being well-prepared, whether it’s understanding the regulatory landscape or anticipating shifts in demand, builds trust and credibility even in a virtual setting.
From your perspective, what are the top priorities or concerns for asset managers, hedge funds, and broker-dealers in the securities lending space today?
While the industry grows more complex, the margin pressures still persist, so it’s critical that lendable assets are optimally positioned to generate the most value. That requires the right mix of relationships, technology, and trust to ensure clients can benefit from the most profitable trades.
How have market dynamics or regulatory changes in recent years impacted what clients are looking for in a lending agent?
As market dynamics shift and the lenders pool contracts, clients are placing greater value on transparency, customization, and overall alignment with a dedicated agent. At Fidelity Agency Lending (FAL), we’re seeing that clients increasingly want clarity around how, why, and when their lending programs deliver value. That focus on outcomes and partnership is shaping how we support a diverse range of beneficial owners.
What’s your approach to building trust and aligning with client strategy in such a complex, data-driven area like securities lending?
In a complex, data-driven space like securities lending, building trust starts with putting client needs at the center. Across the FAL team, we’re laser focused on delivering customized lending solutions that align with each firm’s risk profile and strategic goals, while maintaining strong credit standards.
What advice would you give to those who are interested in building a career in the finance or securities lending sectors?
Don’t underestimate the power of your network or the opportunities that come your way. Success in this industry comes from hard work, confidence, and leaning into what you’re passionate about. I’ve spent over 20 years in financial services because I genuinely love what I do and finding that kind of drive makes all the difference.
