Produced in partnership with CFA Society Australia.

The investment firm of the future, and the associated technology and talent to lead effectively, will be the focus of the CFA Society Australia Investment Leader Forum this month, as the local society hosts the global board for only the second time in the organisation’s history.

The 14-person CFA Institute Board of Governors from seven countries will touch down in Sydney later this month for the organisation’s quarterly meeting, coinciding with the CFA Society Australia’s Investment Leader Forum. The Board of Governors, led by chair Marshall Bailey and president and chief executive officer Marg Franklin, will join together to discuss the organisation’s four strategic priorities: to grow the investment management profession; evolve the CFA program; expand professional knowledge and capability through thought leadership and unique member experiences; and continue building credibility and trust in the profession.

A priority market

The privilege of hosting the Board of Governors reflects Australia’s increased standing as the CFA Institute’s tenth priority market.

Last year, the three Australian chapters of the CFA Society – Melbourne, Perth and Sydney – merged to unite the country’s 3,500+ investment professionals under one community and one voice.

Globally CFA societies are in the form of countries, states and cities and the merged Australian entity elevates it to one of only 10 CFA Global Financial Centres, giving CFA Society Australia greater opportunity to provide input into, and receive insights about, the CFA Institute’s strategic priorities and partnership programs.

According to Michael Clancy, CFA, inaugural chair of the CFA Society Australia, and chief executive officer of Qantas Super, the strong buy-in from each society ensured a successful transition, despite some challenges.

“As a national organisation, we can serve members more effectively and more efficiently and have a bigger impact,” he says.

“Combining our resources and having a consistent approach across Australia made good sense.”

“The process presented unique challenges as each society had evolved its own operating model and each had their own unique history. That said, the most encouraging aspect was that all societies were committed to serving their members in the best way possible.”

Investment Leader Forum

On February 19, CFA Society Australia will hold its Investment Leader Forum.

The aim of this forum is to encourage the industry to consider today’s challenges through a global and long-term lens.

Participants will be challenged to consider what the world may look like in 2045 and the potential implications for the future of investment management.

Other topics include the growing role of pension systems with a spotlight on superannuation, and what the rapid growth of Australia’s superannuation and retirement incomes system means for investing.

The final session of the day will look at the investment firm of the future, exploring the innovations, strategies and technologies that are shaping superannuation funds and asset management firms.

Clancy is one of the speakers headlining the event in Sydney, alongside Bailey and Franklin from the global board and a bevy of local CFA talent including Anthony Serhan, distribution director, Perpetual; Cassandra Crowe, vice president T Rowe Price; and Richard Brandweiner, chair and foundation member, Impact Investing Australia.

Clancy says the event is an opportunity for the investment community in Australia to gain a truly global perspective.

“The conference agenda has been crafted to step back from an Australian national viewpoint and see the development of the investment and pension industries from a global perspective,” he says.

“There are over 150 different CFA Societies around the world and having the Board of Governors attend and Marshall and Marg speak brings a lot to the table.”

Strongly positioned for growth

Just eight months into the merger and the combined CFA Society Australia is strongly positioned to continue growing its membership base and expanding members services, with a strong management team, engaged volunteers, and integrated systems and processes.

In addition to the country’s 3,500+ CFAs, a further 5,000 professionals Australia-wide are enrolled in the CFA Program.

Clancy understands the important role that corporates and institutions play in raising up the next generation of investment professionals by creating opportunities for them to do additional study.

It was at Russell Investments in the mid-1990s that he, then a performance analyst in the group’s asset consulting business, was sponsored by his employer to undertake the CFA Program.

Clancy recalls his boss at the time, David Grieger, CFA, on secondment from Russell’s US headquarters, was a passionate advocate of the CFA program, reflecting the CFA Institute’s US roots.

“The CFA program was a core plank in [Russell’s] training and development, and as a US company and [the CFA program] originating from the US, they encouraged and sponsored analyst level employees to go through the program. As the investment management industry has globalised, so has the CFA Program,” he says.

Russell was not unique in this. Most of the large US financial services companies had the same policy and, as the CFA designation became more global, other firms adopted a similar approach.

Nurturing members and volunteers

In the immediate term, CFA Society Australia is focused on “nurturing” members and volunteers.

“This is a foundational year, and our focus is on engaging our members and volunteers,” Clancy says, acknowledging the contribution and impact of the organisation’s many volunteers.

“We want to make sure that our volunteers know how much we appreciate them. The CFA community is so generous and willing to give back to the industry and the organisation that has supported their development and career.”

“This first year is all about getting alignment and laying the foundation to grow our membership, add services, and build a strong sustainable and thriving organisation for future years.”

For more information on the CFA Society Australia Investment Leader Forum click here.