CEO chat: Fraser’s Kurten on impact, goals & leadership
Anders Kurten describes himself as a “pathological optimist” whose role is to “nurture and protect the trust” of his people and clients.
He became CEO, Fraser Yachts in September 2023 after a long history of management, strategy and product positions in the marine industry, IT and beyond.
Previously the CEO of Baltic Yachts in Finland, Kurten opens up to Superyacht Investor on his impact, the yachting landscape, headwinds, opportunities and his leadership philosophy.
What impact have you made so far and how could Fraser be doing better in the current market?
At our core, we’re a people-centric business. We operate in an environment of extreme scarcity where everything and everyone is one-of-one, from the yachts and our brokers to the owners, buyers, sellers and charterers, so trust is our most valuable asset. It is forged through genuine, one-on-one connections.
My role is to nurture and protect this trust, a cornerstone of our company’s values. Internally and externally, we prioritise client interests over short-term gains. Our commitment to go the extra mile is unwavering to facilitate a transaction, ensure a seamless charter experience or simplifying yacht ownership making it predictable and hassle-free. So, I find myself in the very fortunate position to truly have an ambitious, high-performing team – which in a sense makes my job if not easy, easier.
There is always room for improvement. I believe in building on strengths to achieve excellence and that has been our focus lately. Joining a high-performing company has allowed me to concentrate on refining processes and fostering a unified culture. This is an ongoing challenge given our global reach, diverse workforce and wide range of services.
As to tangible major milestones over the past months, I would maybe pick out opening our new office in London in April, as well as recently establishing Fraser Yachts Greece in Athens.
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What are the headwinds and what have you done to mitigate those?
The sales brokerage market softened in 2024, while charter and yacht management remained steady, even growing. Despite industry challenges, we focused on the nuts and bolts, and our sales brokerage division actually bucked the trend year-on-year, significantly outperforming the market.
As to the overall perception of headwinds, this to me relates to global macro factors, as general uncertainty usually is not conducive for our business. How the global geopolitical situation develops is out of our hands, but I am fundamentally an optimist and believe and hope that we will face an environment with slightly less uncertainty going into 2025. While short-term fluctuations occur, the long-term outlook for yachting remains positive. The overall appetite for yachting is not diminishing, quite to the contrary.
Also, analysing industry performance requires a long-term perspective. Given the relatively low volume of transactions and normal variance and fluctuations even without macro level drivers behind them, quarterly or annual comparisons can be misleading. A more accurate picture emerges when examining longer-term trends.
How do you assess the brokerage landscape ?
Over the past decade, the larger players have become significantly more professional and structured in their approach, which is a great thing, especially considering the influx of new owners and charterers the industry saw during the pandemic and even after it. Given many of these owners don’t have a wealth of first-hand experience, providing expert guidance on the complexities of superyacht ownership becomes increasingly crucial. Having the necessary expertise readily available in-house is essential.
Strong industry associations like MYBA and LYBRA will remain pivotal for ongoing progress in the industry because many of the challenges we face are shared by all. These platforms provide invaluable opportunities to collaborate, share experiences and address common challenges.
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What opportunities are you most excited about?
From a managerial perspective over the years, it has become incredibly rewarding to foster an environment that cultivates individual growth. Witnessing team members ascend is truly gratifying, from entry-level roles into a junior broker, or when someone already on the management level takes the step up to director and becomes a part of the management team.
In terms of business opportunities, I truly believe our emphasis on diversity within the brokerage community remains a cornerstone of our success. Referring back to my thoughts on our environment, in a market characterised by limited availability, a varied team enhances our ability to forge meaningful connections and build lasting relationships based on trust. These strong bonds often lead to invaluable referrals.
Speaking specifically about “pins on the map”, I am also particularly excited about our expansion into the Eastern Mediterranean. Our new Fraser Greece office in Athens has made a strong start and I see immense potential for growth in this region. Elsewhere, we have managed to attract some key brokerage talent, with both younger and more seasoned brokers joining the team lately in Europe as well as the US.
Then looking further, there are so many opportunities in terms of developing our digital tools that are already ongoing.
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What are your goals for Fraser?
Obviously being American-owned the goal has to be world domination! On a more serious note, our purpose in and of itself is to continue to be the best. Our focus lies in delivering exceptional service and being the best partner to both existing and new clients, because frankly, I do not think our clients care about working with the biggest, they just want to work with the best. This unwavering commitment to client satisfaction is fundamental to our ambition.
At Fraser, we understand that excellence in service cannot be pre-crafted or stored; every interaction is created in the moment, making our commitment to deliver top-tier service to demanding clients a continuous, 24/7 endeavour. This is why we strive to make Fraser a great place to work for all our employees and brokers, ensuring they have the best environment in which to excel and provide exceptional service.
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What is the key to leading a company such as Fraser and what learnings have you brought to it?
This gets a little bit philosophical, but I will attempt to succinctly summarise my management philosophy. There are a couple of main themes that I tend to revert to in terms of leadership that to me in many ways are industry-agnostic best practices.
One is communication. Be honest, frank and to the point. If you know something, share it. If you do not know – admit it and figure it out if you can. Even if you do not have all the answers, in most cases you can share your “hot take” on whatever the topic at hand is.
Another theme is respect. Respect rather than fear. Like a bank account, goodwill must be earned before it can be drawn upon. I’ve found that respect, rather than authority or intimidation, is the key to unlocking a team’s full potential.
A third theme, not surprisingly, is trust. Unlike the divisive approach of management guru Jim Collins, who speaks of categorising people as “ON” or “OFF” the bus, I believe in fostering an environment where team members feel secure and supported; to me it is imperative that your team members know you will not throw them UNDER the bus. They deserve not only strategic leadership but also ethical guidance. It is essential that my team trusts I won’t jeopardise their position.
And then one last simple thing; make yourself available. I have this rule that when my office door is open anyone can walk in without warning. Firstly, because the serendipity of face-to-face encounters is greatly underestimated. Secondly, because many things can actually most efficiently be dealt with on the spot. Despite the geographical distribution of our offices, I make it a priority to regularly visit our larger locations with significant headcounts. This allows me to connect with as many team members as possible, ensuring a strong and unified company culture.
So in summary: Communicate. A lot. Be respect-worthy – and you shall get it back with interest. Foster a culture of trust and be there for your staff – let them know that they matter. And put yourself on the line by being available.
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Where do you see the superyacht industry in 5/10 years’ time?
I find that being a pathological optimist is certainly helpful in this industry, but even when I put my more analytical hat on and temper my private enthusiasm, I see the sector growing.
The yachting industry is experiencing a golden age of innovation. Shipyards are pushing boundaries with sustainable propulsion systems and ground-breaking interior designs, offering unprecedented opportunities for new-build projects. Even older yachts can benefit from these advancements through technological upgrades becoming more readily available and adopted. The fascinating thing about technology in general is that the pace of development has never been as fast as it is today, but at the same time, in the future, it will never be as slow as it is today.
Moreover, advancements in connectivity, such as Starlink, are revolutionising life on board and extending the time spent afloat – and this really goes for both owner’s private use as well as extended charter. Owners and charterers can now stay connected virtually anywhere, blurring the lines between work and leisure. So owners could even run board meetings sailing across the Atlantic.
When we combine the above with the seemingly insatiable appetite for ever more experience-oriented travel and lifestyles, I think we are looking forward to some really positive years ahead of us.
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