In this revealing interview, John Cucchiella exemplifies the Italian spirit of resilienza, or resilience, that propelled him from immigrant roots to leadership in Canadian wealth management. His story showcases how the tenacity instilled by his mother, Azelia Rossi, and his cultural heritage became powerful assets in navigating challenges and innovating in finance. Cucchiella’s journey illustrates the transformative power of embracing one’s background in professional life.
BY LF ITALY
October, 2024
How has your experience as an Italian immigrant in Canada shaped your professional journey?
Within two years of my parents leaving Milan and arriving in Canada, my mother, Azelia Rossi, had the strength to escape a very abusive relationship. At the time, Canada did not have the social programs we do today. We were on our own and therefore learned how to survive very quickly. My mother became my mentor, and I am the man that I am today because of her. She endured incredible hardship at the hands of an abuser, but the woman who stood 1.6 meters tall towered in strength and, in one day, picked up her kids and walked away from everything to start a new life for her family.
How did this form/change you?
Over the years, she built our lives and successfully planted the roots that I continue to leverage in my life today: appreciation and love for family, respect for women, the value of hard work and sacrifice, money management, and pride in being Italian. You appreciate the ability to work, and you learn financial and economic management early. After graduating, I wanted to pursue a career in business; however, that was another challenge considering that the majority of Italians were “known” to be in trades. So, I pursued and accepted every entry-level position in the business field that I could and began to gain experience and demonstrate my value. Eventually, I found my voice and confidence while always drawing on and relying on my early experiences.
Can you describe the pivotal moment that led you into the wealth management industry?
After completing several jobs locally and abroad, I began to work in banking but quickly realized it wasn’t for me. It was very transactional, and for someone who values relationships, it felt superficial. It wasn’t until a chance encounter happened with a bank client that the door opened for me. As I was assisting her, she mentioned that she had just been hired by an independent wealth management firm. Curious to understand her credentials, I asked her about them. After she left, I cold-called her hiring manager and stated that I didn’t have an MBA, but I had a lot of savviness and the gift of gab. He asked to meet, and I was hired as an Investment Advisor a few days later.
How did you approach building your career in an industry where Italians were underrepresented?
Being an Investment Advisor in Wealth Management is a very fulfilling and prestigious career, but at the time, you could count on one hand how many Italians were in the financial industry in Canada. I knew the opportunity that was in front of me, and I wasn’t going to let it slip through my fingers. The investment industry is a forever-changing school in academics and psychology; you become a permanent student. I absorbed as much as I could about markets and people, took additional courses, I sought mentors, and I drew on my roots.
How did your Italian heritage influence your approach to building your career?
“Rome wasn’t built in a day.” It takes time to build a practice, but you don’t realize that in your 20s—at least I didn’t. Being raised by my mother, I was often reminded of two sayings that she would share with me when I became frustrated: 1. “Le cose belle richiedono tempo” (good things take time) and 2. “Fallo con orgoglio” (do it with pride), and good things will come. Italians are naturally conditioned for this long-term patient thinking.
Simply consider the number of hundred-year-old vineyards, artisan fashion houses, manufacturing businesses, and bars that have been built and passed down over several generations. These weren’t created by punching a clock, and I’m sure it wasn’t always a smooth trajectory, but they had pride in their craft and knew it wasn’t going to be built overnight. I wasn’t planning for the C Suite or Partnership; however, I did learn that true wealth, in all its forms, can be created with some pride in your work and a commitment to time.
What prompted your transition into consulting, and how did you navigate this career shift?
Consulting wasn’t something I had decided to do, but I knew that I really enjoyed working with leaders to solve problems. After leaving my executive position in wealth management, I was at a crossroads and was unclear on what I wanted to do next. I had several years of intellectual capital with a real desire to help solve problems, but I wasn’t sure how to monetize or package this intangible. Then a friend of mine referred me to a law firm to assist with a case involving wealth management, which contributed to a successful outcome for them, and it blossomed from there.
Has your heritage influenced your consulting approach?
Without question, it has. From when I started in the business as an Advisor to all of my leadership roles, including my partnership today, relationships are at the core of my success. Italians can be very transparent and inquisitive; what you see is pretty much what you get, and in business, these are excellent characteristics to have. For me, I need to understand people’s stories because we all have one. The more time we invest in that, the better the relationship and understanding we have, and the better the solution one can provide.
What led you to join First North, and how did you
know it was the right fit?
My friend Andrew “Andy” Mitchell, who is the CEO of The Investment Funds Institute of Canada, referred me to John Packwood, the CEO of First North. I knew of First North and their exceptional reputation in consulting, but after speaking with John, I knew that all of my experience, both professionally and culturally, could be aligned with their thinking and philosophy. Our expertise is in four pillars: Front Office Advisory, Middle and Back Office Operations, Technology, and Regulatory and Governance in Capital Markets, with each led by a Partner.
Experience matters at First North, and I would argue that this is our differentiating factor in the marketplace.Each leader began in entry-level positions within their field of expertise, and that is the same with many of our consultants. We are a culturally diverse group of professionals, each with our own unique story and experience, and we view this as a strength and a catalyst for innovation and excellence. For me, my success is not just my own. It’s the result of the strength of my Italian roots, the sacrifices of my mother, and the rich cultural treasure she brought with her to Canada.
Like a muse, your mother, Azelia Rossi, left her mark on your life. Can you share a memory that exemplifies her spirit of resilienza and that’s left a lasting impression?
Before my mother passed, we had a difficult discussion about her plans, and she stated to me very adamantly, “I am not to be buried.” When I pressed her on this, she stated, “For years I was under the foot of your father, and by burying me, that will allow people to walk on me, and that will never happen again.” Needless to say, no one has ever walked on Azelia Rossi again!
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