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Alumni matters October 2010 www.fbe.unimelb.edu.au/alumni/

Dean’s update The last time I wrote an update for Alumni Matters, discussions around a new structure and strategy for the Faculty’s alumni groups were well underway. It gave me great pleasure to make the official announcement at this year’s Annual Reunion Dinner that we will be establishing the Faculty’s first ever Alumni Council in 2010. Since then, a comprehensive Alumni Council framework has been developed and has received the approval of the Business and Economics Board and Faculty Executive. Coincidentally, this year also marks the 20th anniversary of UMCAS, the University of Melbourne Commerce Alumni Society, which was established in 1990 with the support of the Dean, Professor Peter Lloyd. UMCAS continued over the years as a strong and active link between the Faculty and our alumni – proof of how important and valued that relationship has been and remains. As the Faculty has grown and developed, so too have the needs of both our current students and our alumni community and it is with this in mind that the decision to create an Alumni Council evolved.

Professor Margaret Abernethy

We would not be in this position were it not for the tireless work of a very dedicated team of alumni who have served on the UMCAS committee over the past 20 years. As UMCAS now officially ‘closes its doors’, I would like to thank each and every member who has volunteered their time to serve on the committee. I would particularly like to acknowledge Ross Cameron’s huge contribution to the Faculty; as the longest-serving committee member and the President of the UMCAS committee for the past three years, he has dedicated an extraordinary amount of time and energy to building our alumni relations program to where it is today. Ross has

also been heavily involved in discussions around the establishment and structure of the new Alumni Council. Ross’ enthusiasm and dedication are invaluable and we are lucky to have had his involvement and leadership for so long. The decision to create an Alumni Council was a natural progression as we strive to become the top-ranked business and economics school in the region. The structure of our Business and Economics Alumni Council mirrors those of the top business schools in Australia and internationally, and is a result of months of rigorous research and an extensive consultation process with key stakeholders and experts. continued on page 2

ote now for your Alumni Council, see page 8 Vote now for your Alumni Council, see page 8 Vote now for yo

in this issue UMCAS President’s farewell The Business and Economics Foundation University of Melbourne ranked #1 The Business and Economics Board Recent events FBE Alumni Council Carl Jung, Don Argus – An Invitation Future Leaders Forum GSBE Doctoral program Honours and awards All Class – Executive Education Young Victorian of the Year Alumni connections Donor Roll of Honour Scholarships change lives Calendar of events

2 2 2 3 6 8 8 10 11 11 12 13 14 15 15 16

Students interacting with alumni corporate table hosts over lunch at the Future Leaders Forum, see page 10

UMCAS Annual Reunion Dinner, see page 6

Alumni Matters October 2010 1


UMCAS President’s farewell This is my last report to you as UMCAS President as we change the alumni representation and governance structure to the new Business and Economics Alumni Council. While I will be stepping down from alumni duties it is with great excitement that the Faculty moves to the new Alumni Council, which will help to consolidate many initiatives that we have been working on within UMCAS, and take them to another level. Over the years, the achievements of UMCAS have included: > Teaming with the Faculty’s Careers Centre to drive the mentoring program in which close to 200 mentors – most of whom are alumni – offer their counsel and time to current students; > Awarding the alumni-funded UMCAS Leadership Scholarships each year to two students displaying outstanding leadership in the community; > Our Annual Reunion Dinner for all Commerce Alumni, which regularly sees 200+ attendees;

Dean’s update continued from page 1 The role of the Alumni Council will be to foster networks between alumni and to support the work of the Dean, the Business and Economics Board, and the Advancement Unit. The Council will operate as an arm of the Business and Economics Board; the structure of the inaugural Alumni Council is explained in more detail on page 8-9. We believe that in order to be a truly representative and inclusive Alumni Council, it is imperative that our large and diverse alumni community is fairly represented and also that every alumnus is represented. For these reasons, at least three of the twelve members of the Alumni Council will be international alumni, and three members will be elected to the Council by alumni through an online ballot. Nomination for election to Council is open to all alumni of the Faculty. As long as you are an alumnus of the Faculty of Business and Economics, you are eligible to stand for election and are eligible to vote in the election. Full details of the nomination and election process can be found in this newsletter on page 9. I encourage each and every one of you to be involved. In closing, I would like to assure you that the Alumni Council has the Faculty’s full support and commitment. Through my office and the Faculty’s Advancement Unit, we are committed to providing an extremely positive and rewarding alumni experience. I would like to thank the interim Alumni Council Chairman, Chris Leptos, for his invaluable input in establishing the Council, and again, Ross Cameron for his outstanding leadership of UMCAS. Professor Margaret Abernethy Dean, Faculty of Business and Economics 2 Faculty of Business and Economics

> The signature Young Alumni functions held throughout the year, including a ‘Meet the Entrepreneur’ event – all attracting approximately 100 recent graduates in attendance.

As the last President of UMCAS, I’d like to thank all our supporters and, in particular, the UMCAS committee that has worked tirelessly – especially in recent years – to develop the range of initiatives that we have offered.

> Our Annual 40+ Reunion Luncheon for alumni of the faculty who graduated 40 or more years ago – a highlight for our ‘mature’ segment.

And in closing we must pay tribute to the late John Harper – who many graduates will recall from their time at the University – a terrific lecturer and good old fashioned great bloke. It was John’s vision in 1990 to develop a past students association for the Commerce Faculty, and I am personally honoured to have worked with John over many years to help to carry his vision forward.

Part of the new Alumni Council’s directive will be to continue delivering and to further build upon such initiatives. Our hope is that in the years ahead the alumni body will become even more engaged and connected, both with other graduates and, of course, with the Faculty of Business and Economics.

Ross Cameron President, UMCAS

The Business and Economics Foundation The newly created Business and Economics Foundation has been established to provide the support necessary for the Faculty to innovate and excel in an increasingly competitive marketplace. The support received through the Foundation will play a critical role in maintaining the Faculty’s stature as a global leader in undergraduate and graduate business and economics education. One of the benefits of the Foundation is that it signals to future donors that their donations will go directly to support the mission of the Faculty. The Directors of the Foundation are not responsible for the investment of funds but will require a report from the University Investment Committee on the way in which the funds are invested. The Foundation will open up communication with existing and future donors and create greater involvement and ownership in the future success of the Faculty.

The Directors of the Foundation will: > provide stewardship of all existing trust funds established for specific purposes (e.g. Whitlam Trust Fund, the Helen McKay Trust Fund, etc); > assist in the creation of a new endowment fund from donations provided by alumni, staff and friends of the Faculty; and > provide advice and receive recommendations for the expenditure of new funds by the Dean of the Faculty. The Business and Economics Board and the Foundation are established in the University Regulations.

University of Melbourne ranked #1 in Australia and the Oceania region The University of Melbourne has been ranked the leading university in Australia and the Oceania region, and 36th in the world by the Times Higher Education rankings of the world’s top 200 universities. The University of Melbourne is also the first and only Australian university to have been listed recently in the Economics and Business category subject ranking in the influential and prestigious Shanghai Jiao Tong University Academic Ranking of World Universities 2010. Melbourne ranks equal second in the region in this subject area, and has been placed among the top 100 research institutes worldwide for the eighth year in a row.


The Business and Economics Board, from left: Mr Chris Leptos AM, Mr Paul Bassat, Mr Anthony Burgess, Dr Peter Yates, Ms Patricia Cross, Mr Rupert Myer AM, Professor Margaret Abernethy, Professor Greg Whitwell, Dr Lynne Williams, Mr Peter Gunn, Professor Graham Sewell

The Business and Economics Board The Business and Economics Board was established in 2007 as resource to the Faculty, keeping us in touch with developments and needs of industry. The Board is comprised of prominent leaders drawn from the highest levels of business and public life in Australia and the region. Dr Peter Yates has been Chair of the Board since it was established. The Business and Economics Board will normally meet three times a year with the Faculty. The role of the Board is to: > provide advice and support to build a world-class graduate school; > provide advice on curriculum developments in the New Generation Bachelor of Commerce; > facilitate increased opportunities for research collaboration including identification of high priority topics; > assist in the development of links between the Faculty and the wider business, academic and policy communities for student, research and other purposes; > facilitate advocacy on behalf of the Faculty; and > identify and assist the Faculty with fundraising and income generation activities, through stewardship and oversight of the Business and Economics Foundation (see p2) and by ensuring that monies held within the Foundation are used for greatest need and highest impact to support the mission of the Faculty.

Members of the Business and Economics Board are:

Dr Peter Yates (Chairman) Peter Yates is Chairman of the Peony Capital General Partnership and a director of AIA Australia Ltd, Oceania Capital Partners Ltd and MOKO.mobi. He was previously Managing Director of Oceania Capital Partners, CEO of Publishing and Broadcasting Ltd and, until 2001, worked in the Investment Banking industry including 15 years with Macquarie Bank. He has also worked for Morgan Stanley in Australia and Booz Allen Hamilton in Tokyo. Dr Yates holds a Doctorate of the University (Murdoch), a Masters degree from Stanford University Graduate School of Business, and a Commerce degree from Melbourne. Dr Yates is also Chairman of the Royal Institution of Australia and the Australian Science Media Centre. He is Deputy Chairman of Asialink and Asia Society AustralAsia Centre; a Board Member of the Australian-Japan Foundation, the Australian Chamber Orchestra, the Royal Children’s Hospital Foundation (Victoria), the Melbourne International Art Festival and The Centre for Independent Studies.

Professor Margaret Anne Abernethy Margaret Abernethy (BEc PhD) is Dean of the Faculty of Business and Economics and holds the Chair in Managerial Accounting at the University of Melbourne. As Dean she was an integral part of the implementation of the Melbourne Model at the University which included the creation of what is now the Graduate School of Business and Economics (GSBE). In 2008 she was named Telstra Business Woman of the Year for the Community and Government sector in recognition of her contribution to higher education. Professor Abernethy is recognised as one of the leading researchers in her field in the world and as an outstanding teacher; she continues to publish in the top tier international journals and contributes to the development of the academy through her membership on the editorial board of prestigious international journals.

Alumni Matters October 2010 3


The Business and Economics Board

Mr Paul Bassat Paul Bassat is the Joint CEO and Co-founder of SEEK. Since its establishment in 1997, SEEK has been one of Australia’s fastest growing companies and has been rated as one of Australia’s Best Employers for the past five years. SEEK is publicly listed on the ASX and is part of the benchmark S&P/ASX 200 index. Mr Bassat has overall responsibility for SEEK’s online employment business in Australia and New Zealand. He is also a director of Zhaopin, one of China’s leading online employment sites, in which SEEK holds a 25% interest. Prior to co-founding SEEK, he spent six years with a leading commercial law firm, where he specialised in corporate law. Mr Bassat holds Bachelor of Laws and Bachelor of Commerce degrees from the University of Melbourne.

Mr Anthony Burgess Tony Burgess is CEO of Flagstaff Partners Pty Ltd, an independent corporate finance advisory firm. Mr Burgess has 30 years of experience in corporate finance in Melbourne, London and New York and was previously Global Co-head of Mergers & Acquisitions for Deutsche Bank AG, based in London. Mr Burgess holds an MBA (with Distinction) from Harvard Business School (1985) and a Bachelor of Commerce (with First Class Honours) from the University of Melbourne (1981). He is a member of CPA Australia and the Financial Services Institute of Australia. He is a Director of the listed investment company, Diversified United Investments Ltd, and is Vice Chair of St Vincent’s Institute Foundation.

Mr Terrence Campbell AO Recognised as one of Australia’s pre-eminent brokers, Terry Campbell is the Senior Chairman of Goldman Sachs & Partners Australia Pty Ltd. With more than 50 years experience in Australian securities markets, he has been a leader in the promotion and development of Australian equities on a global basis. Mr Campbell is a director of Djerriwarrh Investment Ltd and AMCIL Ltd and deputy chairman of Australian Foundation Investment Company Ltd. He has a Bachelor of Commerce from the University of Melbourne and attended the Stanford Executive Program at Stanford University. Mr Campbell attended the Annual Meeting of the World Economic Forum in Davos from 1987 to 2007.

4 Faculty of Business and Economics

Ms Patricia Cross Patricia Cross is a nonexecutive director of National Australia Bank, JB Were and Qantas Airways Ltd, and is a director of the Murdoch Childrens Research Institute, the Grattan Institute and Methodist Ladies College. Previous positions include a director of Wesfarmers Ltd, Chairman of Qantas Superannuation Ltd, Deputy Chairman of Victoria’s Transport Accident Commission, and a director of AMP Limited and Suncorp-Metway Ltd. Ms Cross was a member of the Financial Sector Advisory Council, the Companies and Securities Advisory Committee, and the Australian Financial Centre Forum. Prior to becoming a professional NED in 1996, Ms Cross worked for 15 years in various senior positions with Chase Manhattan Bank, Banque Nationale de Paris and National Australia Bank in New York, Europe and Australia. Ms Cross holds a Bachelor of Science (Honours) from Georgetown University. She is a Fellow of the Australian Institute of Company Directors, and in 2003 received a Centenary Medal for service to Australian society through the finance industry.

Mr Peter Gunn Peter Gunn commenced his career as an interstate linehaul truck-driver, moving on to transport management and logistics. Over some thirty years, he started and developed a number of companies to ultimately form PGA Logistics Pty Ltd. He is now the Managing Director of the PGA Group Pty Ltd, a family-owned investment business. Mr Gunn completed a Bachelor of Commerce at the University of Melbourne and holds various positions, including Fellow of the Australian Institute of Management, Fellow of the Chartered Institute of Transport, Trustee of the Australian Road Transport Forum, Trustee of the Committee for the Economic Development of Australia, Member of the Australian Logistics Council and Member of the Prime Minister’s Supermarket to Asia Council.

Mr Chris Leptos AM Chris Leptos is a Partner in the Melbourne office of KPMG. His earlier management roles include Head of Corporate Development for Western Mining Corporation and Chief of Staff to Senator John Button. He has undertaken numerous government reviews for both State and Federal governments; he is a Governor of The Smith Family; a Director of the Asia Society/Asialink; and a volunteer CFA fire-fighter. Mr Leptos graduated from the University of Melbourne with a BCom (1980) and an MBA (1990), and is a Fellow of both the Institute of Chartered Accountants and of CPA Australia. In 1997 he was designated a “Global Leader for Tomorrow” at the World Economic Forum in Davos, and in the June 2000 Queen’s Birthday Honours Mr Leptos was designated a Member of the Order of Australia for his work on the sustainability of the global mining sector.

Dr Ian J Macfarlane AC Ian Macfarlane was Governor of the Reserve Bank from 1996 to 2006. He is now on the Boards of a number of Australian public companies, the Lowy Institute and the International Advisory Board of Goldman Sachs. Dr Macfarlane was educated at Monash University and worked at Oxford University and the OECD before joining the Reserve Bank. He was elected as a Fellow of the Academy of Social Sciences in Australia in 1998 and awarded an Honorary Doctorate at the University of Melbourne in 2006.

Mr Hugh Morgan AC Hugh Morgan is CEO of First Charnock Pty Ltd. Previous positions held include Director of North Broken Hill and Managing Director, then CEO, of Western Mining Corporation. He has served as a Director of Alcoa of Australia Ltd; a Director of Alcoa Inc.; Member of the Board of the Reserve Bank of Australia; Non-Executive Board Member of the CSIRO; President and Senior Vice-President of the Minerals Council of Australia (formerly Australian Mining Industry Council); Vice-Chairman and Chairman of The International Council on Metals and the Environment; Executive Committee Member on the International Council on Mining and Metals; Member of the Executive Committee of the Australasian Mineral Industries Research Association; Chairman of the World Gold Council; Member of the Earth Resources Development Council.


The Business and Economics Board

Mr Morgan is a Member of the Anglo American plc Australian Advisory Board; Member of the Lafarge International Advisory Board; Honorary Member of the Business Council of Australia; Chairman of the Order of Australia Association Foundation Ltd; Trustee Emeritus of The Asia Society New York; Chairman Emeritus of the Asia Society AustralAsia Centre and President of the National Gallery of Victoria Foundation.

Mr Rupert Myer AM Rupert Myer is the Chairman of The Myer Family Company Ltd and a Director of the publicly listed Myer Holdings Ltd, AMCIL Limited & DUI Ltd. He serves as Chairman of the National Gallery of Australia. He also serves as Chairman of Kaldor Public Art Projects, as a Board Member of The Felton Bequests’ Committee and as a Director of Jawun-Indigenous Corporate Partnerships.

Dr James Riady James Riady is CEO of the Lippo Group of Companies, which is involved in banking, securities, hotels, property and property development, health care, multi-media, business publications and communications. Dr Riady is the founder and Chairman of the Pelita Harapan Educational Foundation, which operates two universities and 20 k-12 schools. Dr Riady is the Deputy Chairman of the Indonesian General Chamber of Commerce and Industry (Kadin Indonesia), Foundation Member of the World Economic Forum, Switzerland and also a Member of the International Business Council. He was Ambassador at Large and Special Envoy of the President from 1988-2000 and a member of the Peoples’ Consultative Assembly (MPR) from 1988-2000, both in the Republic of Indonesia. Dr Riady was awarded the Australian Alumni Award for Entrepreneurship in 2008 by the Australian Embassy in Jakarta. He completed his Bachelor of Commerce at the University of Melbourne, and has received a Doctor Honoris Causa from both Ouachita Baptist University and La Trobe University.

Professor Graham Sewell Graham Sewell is the Head of the Department of Management and Marketing in the Faculty of Business and Economics. He received his PhD from the University of Wales. Professor Sewell has made a seminal contribution to the management literature regarding the use of teams and quality improvement schemes in the workplace. He and his co-authors have challenged the orthodoxy by employing a post modern or critical theory lens in their research. The results of Professor Sewell’s research have been published in the highest ranking journals in the management discipline. The key publications have become “classics”.

Professor Gregory Whitwell Greg Whitwell is Deputy Dean and Director of the Faculty’s Graduate School of Business and Economics. As Director of the GSBE he has responsibility for the entire suite of graduate programs and for the overall management of the Graduate Student Centre and associated units. Professor Whitwell was the inaugural Associate Dean (International) in the Faculty, and prior to his present appointment he was Associate Dean (Graduate Studies) and the inaugural Associate Dean (Academic Programs). In 2009 he was acting Pro-Vice Chancellor (Teaching, Learning and Equity). He was originally trained in economics and economic history but for more than a decade has concentrated on the areas of international marketing and strategic marketing. Professor Whitwell is a recipient of the Academy of the Social Sciences in Australia Medal, an award for excellence in scholarship. He is also the recipient of two best paper awards from the American Marketing Association and has regularly won Dean’s awards for the excellence of his teaching.

Dr Lynne Williams Lynne Williams is the Under Secretary for the Department of Treasury and Finance (DTF). Previous to this appointment she was Deputy Secretary, Economic and Financial Policy in DTF, a position she held from August 2006 – March 2010. Dr Williams moved from the Federal to the Victorian Public Service in April 2001.

Prior to joining DTF, she was a Deputy Secretary in the Department of Innovation, Industry and Regional Development and Director (Economic Policy Branch) in the Department of Premier and Cabinet. Starting her career as a labour economist, working in several State and Commonwealth research agencies, Dr Williams has worked as an economist in the public sector for over 25 years. This has included positions within the (Federal) Bureau of Labour Market Research, the (Federal) Bureau of Immigration, Multicultural and Population Research, the (Federal) Productivity Commission and the (State) Department of Labour. Dr Williams has degrees in economics from the University of Melbourne, the London School of Economics and Political Science, and a PhD from Monash University. She is a committee member of Athletics International, a Fellow of the Institute of Public Administration Australia (IPAA) and of St Hilda’s College (University of Melbourne), a member of the Australian Institute of Company Directors and of the Economic Society of Australia (Victorian Branch), and sits on the Melbourne University Sport Board.

Mr Kevin Wong Kevin Wong was formerly a Managing Director of JP Morgan, as well as being the Senior Country Officer of JP Morgan Chase for Malaysia, with oversight for all of the company’s Malaysian activities in investment banking, commercial banking and equities. In his 18-year investment banking career with JP Morgan, Mr Wong was primarily involved in corporate advisory and mergers and acquisitions. Prior to his last assignment in Malaysia, he had previously been based in Melbourne, Hong Kong, Singapore and New York. Following Mr Wong’s retirement in 2005, he was appointed the non-executive Chairman of JP Morgan Chase Bank Berhad in Malaysia. Prior to his career in investment banking, he was a companies and securities regulator and before that, was in the chartered accounting profession – both in Australia. Mr Wong is a member of the Institute of Chartered Accountants in Australia and holds a Bachelor of Commerce from the University of Melbourne. He is currently a council member of International House at the University of Melbourne.

Alumni Matters October 2010 5


Recent events India 28 May An alumni dinner was held in the beautiful Taj Mahal Palace and Tower in Mumbai on 28 May. Representatives from the Faculty met with a small group of alumni based in India who are keen to develop a stronger alumni network in the region.

HASS (Honours Accounting Students Society) Alumni event 20 May The Honours Accounting Students’ Society held a social event on 20 May for all Accounting honours alumni and current honours students. Also in attendance were teaching staff from the program, including Department Head John Lyon and members of the HASS Committee. Dean of the Faculty, Professor Margaret Abernethy – who herself began her career at the University of Melbourne as Head of the Accounting Department – addressed alumni and students, commenting that the Honours program is the jewel in the Faculty’s crown and upholds a consistently high calibre of student.

UMAA (University of Melbourne Actuarial Alumni) cocktail event 27 May The University of Melbourne Actuarial Alumni group (UMAA) was established in 2008 and is the only group of its kind providing professional networking opportunities for actuarial graduates in Melbourne. The group holds a number of events each year, with the first function for 2010 being a cocktail party at Blue Diamond, Melbourne’s premier live music and cocktail lounge. Approximately 60 alumni attended the event and enjoyed informal networking over drinks with fellow Actuarial Alumni and academic staff members Professor David Dickson and Richard Fitzherbert from the Centre for Actuarial Studies.

Bachelor of Commerce Graduation Party 25 June BCom students graduating in semester 1, 2010 celebrated the end of their degree and new beginnings with a private party some 300m above sea level at Eureka 89. Guests entered the 89th level of the remarkable Eureka Tower in Melbourne’s Southbank and were greeted with a 360-degree view of Melbourne – worth the vertigo! Deputy Dean Professor Paul Kofman bid farewell and offered his best wishes to the students, while UMCAS president Ross Cameron welcomed a new cohort to the Faculty’s alumni community.

6 Faculty of Business and Economics

UMCAS Annual Reunion Dinner

Young Alumni event – Alastair Lucas @ Deloitte 29 June Generously sponsored by Deloitte, this event was attended by over 100 eager young alumni, who had the opportunity to meet with Alastair Lucas, Vice-Chairman of Goldman Sachs JBWere and one of the most experienced corporate advisors in the country. Alastair gave an insightful presentation on “The NFP Sector: How it Affects Australia... and You”. In his presentation Alastair discussed how the NFP sector provides vital community services in Australia. He also highlighted that for some developing countries, the NFP sector is vital in growing their economies. Alastair summed up by giving five reasons why the NFP sector is vital to our careers and emphasized that every really successful career includes an NFP component.

Global Business Practicum student/alumni dinners 6-7 July After the success of first two Global Business Practicum programs, the Department of Management and Marketing again led three groups of students overseas to complete this intensive subject in July 2010. In Shanghai, 16 BCom students undertook an industry project aimed to develop their practical business competencies in an international setting and establish connections with companies related to their discipline. Similarly, two groups of high-achieving students from the Graduate School of Business and Economics (GSBE) travelled to Beijing and Kuala Lumpur, where they completed their industry projects. Students also had the opportunity to meet with alumni who are currently working in those cities. Through small group dinners with these alumni, students received useful career advice, industry insights, as well as tips on working in China and Malaysia.

UMCAS Annual Reunion Dinner 15 July This year the dinner was attended by over 150 alumni and guests. Superb musical entertainment was provided by the Trewman Ensemble, with speeches by the Dean, Professor Margaret Abernethy, and alumnus Tom Elliott. Most impressively, nearly $4,000 was raised towards student scholarships from alumni who attended the Reunion Dinner.

Inaugural Lecture by Professor Deborah Cobb-Clark 22 July On Thursday 22 July Professor Deborah Cobb-Clark, the recently appointed Director of the Melbourne Institute and Ronald Henderson Professor at the University of Melbourne, presented her inaugural public lecture entitled “Disadvantage across the Generations: What do we know about Social and Economic Mobility in Australia?” to an audience of around 100 guests.

The Dean, Professor Margaret Abernethy, with Professor Deborah Cobb-Clark, Director of the Melbourne Institute


David Finch Lecture – Professor Joseph Stiglitz 28 July On 28 July Professor Joseph Stiglitz presented the annual David Finch Lecture 2010 in conjunction with his visit to Australia as the inaugural speaker for the Eminent Speaker Series hosted by the Economic Society of Australia. Professor Stiglitz is an acclaimed international economist, a recipient of the Nobel Prize in economics in 2001 and a joint recipient of the Nobel Peace Prize in 2007. He is currently a Professor at Columbia University in New York and Chair of Columbia University’s Committee on Global Thought. Nearly 700 people flocked to the Parkville Campus to hear Professor Stiglitz talk and some were lucky enough to get a copy of one of his books signed.

Young Alumni enjoying at the August “Meet the Entrepreneur” Young Alumni event at Koko Black, sponsored by RSM Bird Cameron

Lecture Recordings

Alumni Dinner in Indonesia

Young Alumni event – Darrell Wade @ Koko Black

2 August

17 August

Professor Nasser Spear, Associate Dean for Global Engagement, hosted an alumni dinner at the Le Meridien Hotel in the heart of Jakarta at the beginning of August. More than 20 alumni based in Indonesia attended the dinner, many of whom hold important positions in industry, government and NGOs. A few alumni expressed great interest in returning to the University for further studies, particularly in our Faculty’s doctoral programs.

Darrell Wade, CEO and founder of Intrepid Travel shared his entrepreneurial journey with close to 100 young alumni at one of our most popular Young Alumni events of the year, “Meet the Entrepreneur” at Koko Black on Collins Street. Over delicious chocolates and cocktails, Darrell told the inspiring story of how he started Intrepid Travel with a friend after bouncing across the Sahara in a converted tipper truck some 21 years ago.

Max Corden Lecture – Professor Barry Eichengreen 4 August Professor Barry Eichengreen, the George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley, presented the 8th annual Max Corden Lecture entitled “Do we need a new International Monetary System – a Multipolar system for a Multipolar world”. The lecture questioned whether the U.S. dollar can continue to enjoy its “exorbitant privilege” as the global economy becomes less U.S. centric and increasingly multipolar. Professor Eichengreen explored the possibility of a new multipolar International Monetary System in which the U.S. dollar, the euro and the Chinese yuan will all become consequential international currencies; his lecture was well-attended by academics, both from our University and others, industry professionals and students.

With close to nothing but a second-hand typewriter and a borrowed dining table, Darrell and his business partner, Geoff Manchester, created an unconventional style of small group travel that was hassle-free, offering adventures at grassroots level for those yearning to escape the humdrum of mainstream tourism. Intrepid travellers are completely exposed to the good, the bad and the downright weird of nations. The initial struggle, gradual growth and ultimate success of Darrell’s entrepreneurial venture provided great encouragement and motivation to young alumni who are considering their own entrepreneurial endeavour. We would like to thank our generous sponsor, RSM Bird Cameron, particularly Director, Mr Rob Miano.

Dept of Economics – Melbourne Institute Public Policy Lecture – Professor Warwick McKibbin 26 August On 26 August Professor Warwick McKibbin, of the Lowy Institute for International Policy, presented the Dept of Economics – Melbourne Institute Public Policy Lecture. Close to 250 people visited the University’s Parkville Campus to hear Professor McKibbin’s address and the spirited Q&A that followed.

Audio (and/or video) recordings of the following lectures can be downloaded from our Business and Economics News website at http://benews.unimelb.edu.au/

Professor Deborah Cobb Clark Inaugural Lecture Disadvantage across the Generations: What do we know about Social and Economic Mobility in Australia? David Finch Lecture 2010 by Professor Joseph Stiglitz Farewell to the invisible hand? A Global Financial System for the Twenty-first Century Max Corden Lecture 2010 by Professor Barry Eichengreen Do we need a new International Monetary System – a Multipolar system for a Multipolar world? Public Policy Lecture 2010 by Professor Warwick McKibbin Designing Realistic Climate Policy Alumni Refresher Series (September 2010): Associate Prof Angela Paladino – Greening Consumers: Is the Prospect Blue? Prof Kevin Davis – Rethinking Financial Regulation Prof Simon Bell – Letting your Customer into the Kitchen: Co-creation and Competitive Advantage Dr Nikos Nikiforakis – Laboratory Experiments in Economics: Understanding Bubbles in Markets Prof Deborah Cobb-Clark – The Economics of Gender Discrimination Dr Tom Wilkening – Market Design in Development: Promoting Pharmaceutical Research for Vaccines for Neglected Diseases

Alumni Matters October 2010 7


NOW FOR YOUR ALUMNI COUNCIL VOTE NOW FOR YOUR ALUMNI COUNCIL VOTE NOW FOR YOUR ALUMNI COUNCIL VOTE NOW

BEA@M Business and Economics Alumni @ Melbourne

The Faculty of Business and Economics Alumni Council The Faculty of Business and Economics is pleased to announce that the Faculty’s first Alumni Council will be established in 2010 with the enthusiastic patronage of the Business and Economics Board. Over the past months a steering committee chaired by the Dean, Professor Margaret Abernethy, has developed the proposal for the Alumni Council including the Constitution, Terms of Reference, and Nomination and Election guidelines. The Alumni Council steering committee included broad alumni representation and several members of the University and Faculty administration. As the Dean has mentioned in her update, the structure of our Alumni Council mirrors those of the top business schools internationally, and is a result of rigorous research and an extensive consultation process with key stakeholders and experts.

Purpose of the Alumni Council The role of the Alumni Council will be to foster networks between alumni and to support the work of the Dean, the Business and Economics Board, and the Advancement Unit. Specifically, the Council will assist the Faculty to: > represent the views of the alumni community both in Australia throughout the region; > engage in a more strategic way with alumni, the business community, government and the broader community; > foster alumni interest and goodwill in Faculty’s affairs by encouraging intellectual and emotional ties between alumni and the Faculty

Dean, Faculty of Business and Economics Business and Economics board

Chairman

Business and Economics Foundation

Alumni Council

9 appointed members: 6 local, 3 international 3 elected members

> raise the profile of the Faculty both in Australia and throughout the region; > raise resources to support the Faculty.

Structure and Governance The Alumni Council will operate as an arm of the Business and Economics Board. Mr Chris Leptos AM, member of the B&E Board, was appointed by the Dean and the B&E Board Chairman, Dr Peter Yates, as interim Chairman of the Alumni Council to oversee the planning of the steering committee and the establishment of the inaugural Alumni Council. The Constitution and Terms of Reference for the Alumni Council will be finalised by the board in early October.

The Inaugural Alumni Council The inaugural Chairman of the Alumni Council, who will also be appointed by the Dean and Dr Yates, will serve as a member of the B&E Board. There will be nine appointed members of the Council, three of whom will be international alumni. An additional three members will be elected to the Council by online ballot open to all Business and Economics alumni. Nomination for election to one of these three places on the Council is open to all Business and Economics alumni.

Carl Jung. Don Argus. An Invitation. Dear Colleagues, Carl Jung prophesised that the sole purpose of human existence is to kindle a light in the darkness of mere being. I would add to this that the path beyond mere being requires a broad and diverse “human web”. The human web, personal to each of us, is the network of relationships that we have nurtured over a lifetime, and the relationships and networks which they can provide a bridge to. We all have our networks and we are all part of someone else’s web. In the straight-talking words of one of Australia’s iconic business leaders and former Chairman of BHP Billiton, Don Argus: “For those with aspirations to be a CEO or leader of people, can I suggest that intellect and skill will not deliver this; in my 50 odd years in the business world, I have noticed that those people who were able to expand their enterprises were the ones who understood human nature and how to tap the best in people.”

8 Faculty of Business and Economics

Argus and Jung, in their own unique way, provide the clarion call to each of us to nourish our human web. We can choose to feed and water this web to create a rich meandering vine or we can leave it wither in the paddock. Like our physical and mental fitness, we must use it or lose it. In the thirty years since I completed my undergraduate studies at the University of Melbourne, an enduring feature in my business and personal life is that I have connected with alumni from the University in the four continents where I have lived and worked – indeed, I married one! Currently, my touch-points with the University include sponsoring academic research, promoting indigenous employment opportunities and being a member of the Faculty Board.

This has made my life richer and expanded my human web. I hope the same is true for those alumni I have connected with on this road. The creation of the Alumni Council heralds a new direction for engagement with our far-flung alumni, and I invite you to take this opportunity to nourish your alumni network and reconnect with your alma mater. Over the next few months I look forward to sharing with you further news about what is planned. In the meantime, if we need to be doing more to enable you to connect better with your alumni peers, please email me at chrisleptos@kpmg.com.au. Chris Leptos AM Interim Chairman, Alumni Council Partner, KPMG


NOW FOR YOUR ALUMNI COUNCIL VOTE NOW FOR YOUR ALUMNI COUNCIL VOTE NOW FOR YOUR ALUMNI COUNCIL VOTE NOW

Business and Economics Alumni Council elections Who is eligible to stand for election? All alumni of the Faculty of Business and Economics (including the Graduate School of Business and Economics) are eligible to stand for election to the Alumni Council, whether residing in Australia or internationally. It is recommended that you familiarise yourself with the proposed Alumni Council Constitution and Terms of Reference before nominating for election to gain an understanding of the expectations of Alumni Council members. These documents can be found on the alumni website at: www.fbe.unimelb.edu.au/alumni. How do I nominate myself or another alumnus as a candidate for election to the Alumni Council? If you, or a Business and Economics alumnus you know, would like to stand for election to the Alumni Council, you will need to submit your application to the Alumni Relations Office by Sunday 31 October (see details below). To be considered for election, your application must include all of the following: > a completed nomination form (please use the form included with this newsletter or download a copy from the website: www.fbe.unimelb.edu.au/alumni); > candidate statement outlining why you would like to stand for election; > candidate bio; > candidate photo (head and shoulders). Candidate statements, bios and photos will be published on the alumni website as they are received prior to elections. All applications received from eligible candidates by midnight on Sunday 31 October, and accompanied by all the documents listed above, will be included in the election. Incomplete applications will not be considered. Where do I send my application to stand for election?

Can I vote for the elected members of the Alumni Council? Yes, if you are an alumnus of the Faculty of Business and Economics (including the Graduate School of Business and Economics). All Faculty alumni are eligible to vote for elected members of the Alumni Council, whether residing in Australia or internationally. All voting will be online and will open on Monday 15 November. To vote online you will need to register with the University’s online alumni community if you have not done so already. This is to ensure that all voters are verified alumni of the Faculty of Business and Economics and that each alumnus only votes once.

Key dates to remember Monday 4 October: Applications for election candidates open Sunday 31 October: Applications for election candidates close at midnight Monday 8 November: Candidates for election advertised on the alumni website Monday 15 November: Online voting opens Sunday 21 November: Online voting closes at midnight

It is quick and easy to register and you can do so by going to: http://alumni.online. unimelb.edu.au/new_account

Monday 6 December: Winners of election announced

You can do this at any stage before voting opens on 15 November, but you are encouraged to register as early as possible.

Any questions?

How do I vote in the Alumni Council election?

Voting is easy! 1. Make sure you are registered with the University’s online alumni community (see above); 2. Go to www.fbe.unimelb.edu.au/alumni and follow the prompts to log in; 3. Once you’re logged in, you’ll be able to cast three votes in no specific order, with a maximum of one vote per candidate. The online ballot will be operated by the University’s Advancement Office, and administered by the Dean of the Faculty of Business and Economics. Although you are required to log in before voting, your vote will be anonymous.

If you have any questions about the Alumni Council, please contact the Faculty’s Alumni Relations Manager at the details below: Anthea Barry, Alumni Relations Manager, Faculty of Business and Economics Tel: +61 3 8344 2128 Email: antheab@unimelb.edu.au

All information about the Alumni Council elections is available online at www.fbe.unimelb.edu.au/alumni

To be elected to the Alumni Council, a candidate will need to receive a minimum of 20 votes in his/her favour – so it is important that as many alumni as possible vote in the election!

Completed applications should be sent to Anthea Barry in the Alumni Relations Office. Email: antheab@unimelb.edu.au Fax: +61 3 8344 2147 Post/hand delivery: Ms Anthea Barry, Alumni Relations Manager, Advancement and Marketing Unit, Faculty of Business and Economics, Level 12, 198 Berkeley Street, University of Melbourne Victoria 3010

Alumni Matters October 2010 9


Future Leaders Forum 2010 By Margaret Lee

Population, Migration and Social Cohesion Lead·er [lee-der] noun 1. A person or thing that leads. 2. A guiding or directing head, as of an army, movement, or political group. Sponsored by NAB Education, the theme of the 2010 Future Leaders Forum was “Population, Migration and Social Cohesion”, a topic that was addressed with gusto by the key speakers of the day. Held on August 6th at the Woodward Conference Centre, this year’s Forum saw approximately one hundred students from the Faculty of Business and Economics in attendance. The annual event brings together students and members of the community to discuss present and future challenges to business and society as well as the role of leadership in managing these issues. In the first session, Professors Michael L’Estrange and Max Corden provided an overview of global change and Australia’s role in international politics. Session two saw Reverend Tim Costello and Ms Sarah Davies address the issue of social cohesion and inclusion, whilst Professors Harry Clarke and Peter McDonald outlined Australia’s population and migration concerns. The key message which emerged from these three sessions revealed the need to evaluate and reflect on Australia’s role in international politics without overlooking the ‘micro’ issues of people, particularly those who may be left behind in the name of progress. As a result, decisions regarding population and migration need to be measured and carefully considered before implementation. Lunchtime provided the welcome opportunity for students and guests to mingle over an informal meal. Corporate table hosts included the aforementioned speakers as well as many Melbourne University alumni, such as Dr Peter Yates, Mr Barry Thatcher, and Mr Chris Leptos (see the end of the article for a full list of corporate hosts). 10 Faculty of Business and Economics

As a student attendee of the Forum, what I found most enriching was the opportunity to learn from and engage with influential members of the business, political and social community. The ‘conversational’ structure established a two-way dialogue between the guests and the students, which was a highlight of the event. For example, finding myself seated next to Mr Michael Short during lunch, I scored pointers for writing this article, career advice and a crash course in philosophy and economics. In addition, the question time following each session provoked some interesting and lively discussions. Personally, what resonated with me most was Mr Rupert Myer’s opening address where he urged the members of the student audience to apply themselves to a range of interests outside of business:

“There is no software package called Life 101 to equip you for the future… my advice to you, don’t just lead one life, get on and have a few.” As an honours student in my final semester and on the cusp of gainful employment, Mr Myer’s comments reflect an approach to life, which I can but hope to emulate as I graduate as a (hopefully) productive member of society. Overall, what I took from the Forum was that leadership in practice bears little resemblance to the dictionary definition presented at the beginning of this article. Leadership is not just about formal titles or spearheading high profile projects; rather, it comes from all levels of an organisation and all walks of life. Although the Future Leaders Forum was invitation-only, I am sure everyone can be a leader in their present lives by taking action and making the most of the opportunities that come their way.

Reverend Tim Costello AO, CEO World Vision (left), Ms Sarah Davies CEO Melbourne Community Foundation (right) with Advancement Director Suzanne Dixon and GSBE Director and Deputy Dean Professor Greg Whitwell

Key speakers: The Hon Alex Chernov AO QC Mr Rupert Myer AM, Chairman, Myer Family Company Professor Michael L’Estrange AO, Director of the National Security College ANU Professor Max Corden AC, Emeritus Professor of Economics, University of Melbourne Reverend Tim Costello AO, CEO World Vision Australia Ms Sarah Davies, CEO, Melbourne Community Foundation Professor Harry Clarke, Department of Economics and Finance, La Trobe University Professor Peter McDonald AM, Director of the Australian Demographic and Social Research Institute, ANU

Corporate hosts: Mr Ross Cameron, Managing Director, Cameron Research Group Mr James Douglas, Owner, Edison Partners Ms Kathryn Gunn, CFO, PGA Group Mr Peter Gunn, Managing Director, PGA Group Ms Merran Kelsall, Director, Melbourne Water Mr Chris Leptos AM, Partner, KPMG The Hon Jim Short, former politician and diplomat, Chairman, IATIA Vision Sciences Mr Michael Short, Editor, New Media, The Age Mr Barry Thatcher, Managing Partner, nabeducation Dr Peter Yates, Chairman, Peony Capital


Doctoral program at Business and Economics first of its kind in Australia The Faculty of Business and Economics’ new four-year doctoral program allows candidates to complete rigorous coursework units and then embark on research theses in the fields of economics and econometrics. The doctoral program is one of a number of new graduate programs offered by the Graduate School of Business and Economics from 2011. Other new offerings include the Master of Actuarial Science and the Graduate Certificate in People Management. Head of the Department of Economics Professor Nilss Olekalns says the doctoral program adopts a structure widely acknowledged as international best practice. “Graduates from our program receive world class instruction, both in terms of coursework and research training,” he says.

“The Faculty’s economists are ranked among the top in Australia and we have developed a doctoral program befitting that rank.” The new program will increase the ability of graduates to undertake critical research and solve complex problems. Students in the program can apply for a scholarship which covers all fees and provides a living allowance above what is provided by the current Australian Postgraduate Award.

Also new to the Department of Economics in 2011 is the Master of Actuarial Science. This two-year degree (four years part-time), is designed to provide non-actuarial graduates with their initial education in actuarial studies and provide the skills necessary for their immediate transition into the actuarial workplace as a trainee actuary. Successful graduates from this course may be exempt from various professional actuarial examinations, subject to their examination performance. To be considered for admission, applicants must have successfully completed an undergraduate or postgraduate degree with the equivalent of a major in mathematically oriented subjects. The new learning opportunities are not confined to the field of economics; the Department of Management and Marketing has also developed a new program aimed at developing the knowledge and capacity of professionals. The Graduate Certificate in People Management provides a unique and holistic approach toward the understanding of people management in the globalised business environment. The program combines best

business practices in generating deep understanding of cross-cultural interaction, ethical issues in a global context, leadership and team dynamics and team management. The program consists of four subjects, offered on a part-time basis; it would normally be completed in one year. The new programs will be offered from Semester 1, 2011. Further details on these new programs and the full suite of available graduate programs can be viewed on the Graduate School of Business and Economics website at: www.gsbe.unimelb.edu.au.

Information sessions are held regularly, where you can meet and speak with professional and academic staff about programs offered at the GSBE and the benefits of studying with us. The next sessions are scheduled for Wednesday 6 October and Wednesday 10 November. For further info and to register go to www.gsbe.unimelb.edu.au/contactus/ information-sessions.html.

Honours and Awards We would like to congratulate the following Alumni who were recognised with Queens Birthday Honours in 2010:

Medal of the Order of Australia (OAM)

Member of the Order of Australia (AM)

For service to the community through a range of Jewish organisations.

Mr Ian M Dicker, AM – BCom (1969) MBA (1972)

Mr Alan Storr, OAM – BCom (1949)

Mr Michael S Cohen, OAM – BCom (1952)

For service to the community of Victoria, to Australian Rules football and to business.

For service to the community through the research and documentation of World War II RAAF service personnel.

Professor Ross Williams, AM – BCom (1964)

Officer of the Order of Australia (AO)

For service to education, particularly in the discipline of econometrics, through research and administrative roles, as a contributor to professional publications, and as an adviser to state and Federal governments.

Mr Sam Walsh, AO – BCom (1972) MBA For distinguished service to the mining industry through the development and implementation of large scale export strategies, and to the community of Western Australia, particularly through employment programs supporting Indigenous communities.

Congratulations also go to Professor Emeritus Peter Dawkins for his recent appointment as Vice-Chancellor of Victoria University. Former Dean of the Faculty and former director of the Melbourne Institute, Peter became the Secretary of the Department of Education and Early Childhood Development in 2006. He will assume his new role in January 2011. And finally our heartfelt congratulations go to young alumna Wesa Chau, who was recently named 2010 Young Victorian of the Year. The award recognises Wesa’s work in assisting people from marginalised communities in Australia, especially international students. Wesa managed to spare a few moments to talk to us about her work – please see the full article on p13.

Alumni Matters October 2010 11


All Class

By Professor Simon Bell

Australian businesses, like their counterparts in the US and Europe, are embracing the idea that investing in employees is a good idea. Educating staff is effective not only in building organisational competencies, but also for retaining valuable people.

Executive education also allows enduring relationships with business and government in a way that traditional education products do not. Executive education is highly customisable and a good provider will tailor their programs to fit a client’s needs and adapt quickly as these needs change. This will result in enduring relationships with clients that spill over into engagement in other areas, such as research collaboration and funding, corporate philanthropy, interacting with the study body and knowledge exchange. Finally, executive education fits snugly with Universities’ broader objectives of lifelong learning and accessibility. Nowhere have I seen more classroom diversity than in executive education. From entrepreneurs and bankers to leaders in the not-for-profit sector, executive education workshops draw fabulously diverse audiences. It is incredibly exciting to be involved in expanding the University of Melbourne’s offerings in this market. The Graduate School of Business and Economics is working with the corporate, government and community sectors to design and deliver short courses that lead to genuine qualifications.

One of our first initiatives is to launch some innovative open programs. Open programs are seminars delivered in short, intensive bursts on topics of specific interest to the business community. Delegates come from a variety of backgrounds and industries although it is not uncommon for single organisations to send teams of employees. Our intention is to gradually build the number of open programs to provide clients with the opportunity to design and build their own qualifications. Our executive education team will also focus on growing the number of firms with whom we can co-create tailored programs, typically delivered to middle and senior management over extended periods. We have built strong and productive relationships with firms such as Petronas, KPMG and Coles, and it is something that we would like to replicate with other businesses and government. Tailored programs are attractive to most clients as materials are highly customised to suit a company’s unique circumstances. As such, they provide a rich learning experience for delegates. With a world-class faculty, and the passion and commitment of our team, Executive Education at the GSBE will have a significant presence in the years to come. Professor Simon Bell is Chair of Marketing and Academic Director of Executive Education, GSBE.

Leadership and learning are indispensable to each other. - John F. Kennedy, 1963

Too often academia is criticised for its “ivory tower” mentality and seeming indifference to the real problems of industry and government. In the executive education classroom, there is nowhere to hide. Delegates are looking to academics for real solutions to real problems – solutions they can implement on Monday morning.

Organisations collaborate with the Faculty of Business and Economics to gain a competitive edge. Our partners enjoy unparalleled opportunities for business success by gaining access to the talent, thought-leadership and world-class reputation of the Faculty.

Intensive programs open in 2010: Y Treasury Management

Y Operations and General Management Y Foundations of Supply Management Y Leadership and Management Y Quantitative Analysis for Managerial Decisions Y Strategic Marketing Y E-Business and Supply Chain Information Y Decision Analysis and Projects Y Financial and Performance Management Y Leadership and Behaviour in Organisations

Executive Masters Y Master of Supply Chain Management

Y Master of Enterprise (Executive)

For more information: www.gsbe. unimelb.edu.au/programs/execedu/

GSBE Never stop learning In  today’s  ever-changing  environment,  it  is  vital  to  understand  the  principles of  business and economics, learn from experience and innovate  in sustainable ways. At the GSBE we believe in teaching these principles through insightful  teachers and great ideas, leadership programs, individual career planning  and networking with industry. We  never  stop  learning  and  neither  should  you.  Whether  you’ve  just  completed  your  undergraduate  degree,  are  looking  to  change  career  direction  or  want  to  acquire  specialist  skills  and  knowledge,  we  have  a  program  for  you.  Discover  our  wide  range  of   full  and  part-time  study  options, scholarships and support services at www.gsbe.unimelb.edu.au ;]KKM[[Q[J]QT\WV[\ZWVONW]VLI\QWV[aW]KIVJMKWVÅLMV\\PI\¼[VW\ about to change. Australia’s newest business school just happens  to be Melbourne’s oldest.

www.gsbe.unimelb.edu.au

12 Faculty of Business and Economics


BCom graduate named 2010 Young Victorian of the Year Wesa Chau (BCom 2004) was named 2010 Young Victorian of the Year in July for her work helping international students adjust to life in Australia. The award recognises Wesa’s work in assisting people from marginalised communities in Australia, especially international students. Currently the Direct Service Manager at Action on Disabilities within Ethnic Communities (ADEC), Wesa founded the Australian Federation of International Students (AFIS) in 2002. She also holds positions on the board of management of Ethnic Communities Council of Victoria and Immigrant Women Domestic Violence Service. Wesa emigrated to Australia from Hong Kong at a young age and went on to study Commerce and Engineering here at the University of Melbourne. During her time at university Wesa witnessed the difficulties that faced international students when adjusting to life in a foreign country. AFIS is a nonprofit, community oriented organisation aimed at assisting international students in maximising the scope and potential of their experience living and studying in Australia. Wesa currently spends more than 30 hours each week helping international students and advocating for their rights. Her vision was to bridge the gap between international students and the wider community and to establish a one-stop shop to support international students. Commenting on the integration process of international students into their new life in Melbourne, Wesa named three key factors: instability in accommodation, cultural and language barriers, and exploitation of international students through not being given the same “fair go” as local students. “The lack of housing in Melbourne has driven the price of rent very high, and resulted in students having to move frequently in the hope of finding better accommodation. The exploitation of international students in the work place, by landlords etc. makes it even more difficult for students to be given a fair go. On top of that, international students are not eligible to get public transport concession. This is viewed as systemic discrimination, and positions the government as unwelcoming to international students. “Aside from these issues, the migration policy has recently changed, affecting the future of thousands of international students and, without proper transitional measures, has created even more problems for them.

“In order to address the problems, government must work in partnership with stakeholders including Universities, businesses, communities and student groups to develop strategies in a coordinated manner.” Until the government reviews its policies, Wesa believes it is up to the community to step in and make positive changes. “The Australian community could achieve small changes by initiating conversations with international students, helping to ease them into society. Cultural and language barriers make it difficult for students begin new friendships with local Australians. Many indicate the desire to get to know more local Australians, but do not know how to do this.

to do well in their studies and integrate and benefit from all the things Melbourne has to offer. The 2010 Alumni Welcome to Melbourne Program for International Students invites alumni to host a student for dinner in their home, among other activities. The program currently pairs an alumnus (and their family) with an international student on an AusAID

“The Australian community could achieve small changes by initiating conversations with international students, helping to ease them into society. Cultural and language barriers make it difficult for students begin new friendships with local Australians. Many indicate the desire to get to know more local Australians, but do not know how to do this.” “At the end of the day, international students spend the majority of their time in classrooms, and hence lecturers, tutors and other local students also need to play a role. This may mean starting a conversation, introducing them to Australian culture or showing international students around Greater Melbourne. Many of them have not visited the beach, or regional Victoria, because they do not have a car.” Since awareness among the Australian public about international student issues has increased, Wesa says that there has been more goodwill by locals to help them. She views this is a great start, but emphasised that more needs to be done. The University of Melbourne, in response to the challenges faced by its international student cohort, has established a pilot program to give alumni the opportunity to make a positive difference to the lives of some of our international students. These students need to understand local geography, language, cultural and social norms, adjust to food and climate and come to terms with different expectations about their roles and responsibilities and their study. Getting on top of these things, and feeling comfortable in their new surroundings can have an enormous impact on each student’s ability

scholarship, coming from developing countries around the world, including Africa, Indonesia, the Pacific and many South East Asian countries. Participating alumni receive a background brief on the country and culture which their student comes from. Wesa congratulated the University on this program and reported that, through her work with AFIS, she has seen strong interest among international students to visit a local Australian home. “This is knowledge beyond the classroom and social interactions at the University. I congratulate the University for the initiative and truly hope it will be a success.” The Faculty is always proud to note the many ways in which our alumni contribute to the community and would like to congratulate Wesa on the public recognition of her contribution. Wesa has also participated in the Faculty’s Career Mentoring Program.

The 2010 Welcome to Melbourne Program program is now closed, but for information on how to get involved in future please go to www.unimelb.edu.au/alumni/ welcometomelbourne/.

Alumni Matters October 2010 13


Alumni connections By Jun Wei Tong The benefits of tapping into the resources of your alumni community Imagine stepping off a plane in a foreign country, emotions amok, as you begin a new phase of life – one which will dictate your future. Imagine titanic expectations, your jetlagged head filled with the recent memories of farewells to loved ones. Imagine eyes ablaze with flames of ambition: the world is your oyster, Melbourne University your shelling knife. Imagine me. Harvey Mackay once said, “No matter how smart you are, no matter how talented, you can’t do it alone.” Likewise, my experience at university has shown me that one can only get so far on talent alone. The rest lies in relationships; relationships with your peers and, more importantly vocation-wise, relationships with your alumni. Having personally endured the hardships that new graduates might identify with, as well as those to come, alumni are veritable wells of information waiting to be tapped. Tap them, and indulge in their wealth of knowledge. I, myself, after hacking and slashing through hordes of applications and internships, came to realise the rewards that networking bears. It tells the story of the industry, its pitfalls and its perks. It explains the art of applications, of feet in doors and of interview secrets. It offers the solace of supporting shoulders and sagacious advice. Keen to capitalise on all of these, I applied as a mentee to the Faculty of Business and Economics Career Mentoring Program, a decision which changed my life. Immensely so. So what is the Career Mentoring Program? It essentially aims to pair successful Faculty alumni and industry professionals with current students in a bid to advance their career progression. It was through this program I had the fortune of meeting my mentor, Ms Adriana Saw, a former accountant at one of the big four firms. Ms Saw provided me with unparalleled insight into the accounting industry here in Australia, guided me through the lengthy and convoluted trials of the recruitment process, and meticulously reviewed and criticised my

14 Faculty of Business and Economics

cover letters and resume on top of other things. She offered advice gratuitously; always keen to help so long as I was willing to learn and together we slowly mapped out my future. Ms Saw’s efforts, coupled with a clear idea of my career path resulted in a more confident and prepared me, primed for victory as I prepared to face the arduous job application process. Many months have passed since my days in the program but Ms Saw and I still make time to meet up, chat and share developments. If for nothing else, the program provided me with a mentor whose sincere efforts have really captured my gratitude.

So inspiring were her actions that I got in touch with my local University of Melbourne Alumni Association (Malaysia) and joined as a lifelong member. Warm, inviting and helpful, the committee kept in constant contact with me about networking opportunities, which I did not hesitate for a moment to take advantage of! With several high profile corporate leaders present at the events, the experience proved to be entirely enriching as we became acquainted and they imparted their wisdom. Having reaped so much benefit from these events has only made me more enthusiastic about being involved in the alumni community and eager to meet more of the diverse people that are the University of Melbourne alumni. At one of these events I met Mr Kevin Wong, who has had a particular lasting impact. Mr Wong, previously managing director of JP Morgan Chase Bank Berhad, was a veritable treasure trove of experience and know-how. Hailing from a long and successful history in banking, his counsel greatly influenced my course of action, prompting me to start my career in equity research. His words imprinted on my mind, and his guidance – both on the importance of networking as well as his insight into finance – placed me in a better position to make informed decisions about my future.

Jun Wei (far right) at the 2009 Mentoring Program Launch with two career mentors

My meeting with him was a truly fortunate one, and would never have transpired if not for the alumni program. As Mr Wong mentioned, alumni are there to help, a valuable opportunity not to be wasted. I have sung the praises of alumni and networking and will finish here. To those that this resonated with, I wish you all the best. To the others, I hope that my experiences may have swayed you to some extent. To all of you, I leave these parting words: imagine a tree, with the University of Melbourne as the core, each graduating year a different branch and each one of us a leaf. We are all connected under its verdant boughs. The opportunities are truly infinite. Jun Wei Tong graduated with a Bachelor of Commerce in 2009 and is now completing his honours year in accounting. He is a senior tutor in the Department of Accounting and Business Information Systems.

The Business and Economics Careers Centre runs the Faculty’s Career Mentoring Program. For further information on program, and to register your interest in becoming a mentor for the 2011 program, please visit the Career Mentoring Program page at http://www.gsbe.unimelb.edu.au/ careers/employers/mentor.html or contact the Business and Economics Careers Centre: Email: gsbe-careers@unimelb.edu.au Phone: +61 3 8344 2629 or +61 3 8344 1694 Contact information for the University’s international alumni networks can be found online at http://www.unimelb.edu. au/alumni/international/ or by contacting the Advancement Office: Email: alumni-office@unimelb.edu.au Phone: +613 8344 1751


Donor Roll of Honour The support of our donors enables the Faculty of Business and Economics to deliver the highest standard of education excellence – thanks to an extensive scholarship program, state-of-the-art teaching and learning facilities, and world-class academics. We would like to thank the following people and organisations – and also those who wish to remain anonymous – for their donations during 2010 and commitment to the future development of the Faculty: Professor Margaret A Abernethy Miss Geraldine L Adam Mr Charles M Amalfi Mr Duncan G Andrews Mr Richard W Armstrong Ms Joyce Au-Yeung Ms Stephanie L Barr Miss Anthea S Barry Mr Malcolm M Brumby Emeritus Professor Maureen Brunt AO Mr David S Burnet Mr Ross A Cameron Mr Terrence A Campbell AO Ms Siobhan L Cheng The Hon Alex Chernov AO QC Ms Chi Oi Meng Mr Esmond Choo Mr Ivan N Clyne Mr Jonathan Cosgrove Ms Clare L Cummins Ms Suzanne R Dixon Dr Meredith A Doig FAICD Mr Gregory J Doyle Ms Katrina F Efthim

Mr Jonathan R Elliot Mr Bryce G Ferguson Ms Kaye M Fletcher Mr Eric R Forrest Ms Rosemary T Grabau Mrs Isabella F Green OAM Mr Richard R Green Mr Ronald J Griffin Mr Fred S Grimwade Mr Edward C Hauser OBE Ms Therese E Hickey Mr Geoffrey R Hindle Ms Jacqueline M Hoare Mr Brian F Horwood Mr Richard K Hounsell Mrs Rosemary Hume Prof Emeritus The Hon Joseph E Isaac AO Mr Ernest R Jacobs Mr Kenneth James Ms Merran H Kelsall Mr Brendan F Kissane Her Honour Judge Irene E Lawson Miss Olivia Lee Mr Dennis Lee

Mr Chris Leptos AM Dato Jimmy Lim Mrs Helen M Lloyd Mrs Leanne Loh Ms Aileen Loi Mrs Sheila M Loudon Mr Gilbert W Loughman Mr Ian H Loxton Mr Stephen J Mason OAM Mrs Frances G McKay Ms Michelle E McLean Mr John M McMahon Mr Edward J Miller Mr Valentine C Morgan Mr Richard M Morgan AM Mr Jim D Nikolareas Mr Daniel T Norman Ms Sarah L Norton Mr James H Nott Ms Elizabeth O’Brien Mrs Ruth Perkins Professor Emeritus James O Perkins Mr Joseph T Prowse Dr James Riady Ms Jana Samargis

Mr Graeme W Sinclair Mr Maurice Smith Mr Rohan L Stanton Mr Selby K Steele AM Mr Casey Tan Mr Murli K Thadani Ms Karen H Tsang Ken James and Associates Pty Ltd Inglemar Pastoral Co Pty Ltd Ms Stella Voules Mr Christopher J Warrell Ms Anne L Warren Mrs Helen M Wedd Mr John Wedd Mr Eric H Welsh Ms Alexandra White Ms Taryn White Ms Trudy R Willis Mr Kingston Wong Mr Johnson Ching Shion Yip Ms Brooke M Young We would also like to extend our thanks to Faculty alumni who have made a donation to the University.

Scholarships change lives Increasingly, Faculty alumni are joining with us to build transformative opportunities through new scholarship support. We’re delighted that philanthropic gifts from the alumni community are creating new horizons for outstanding students to overcome disadvantage, and in turn build a more diverse and interesting classroom from which everyone benefits. To illustrate the point, 2010 has seen an increase of 83% since the same time last year in alumni and friends making a gift to Faculty initiatives. Perhaps what is most pleasing is the number of donors that have given this year – we see this as endorsement of the philanthropic programs we are embedding. While we continue to pursue our goal of being a world class Faculty, it means less if we’re not also using an elite and influential education as a force for good for those who will benefit most from a helping hand. So while more donors to the Faculty is obviously terrific news, it means little without hearing about the impact this support is having.

One new program that has been launched this year, thanks to the increased generosity of Faculty alumni, is the First in the Family scholarship. This program aims to break cycles of social disadvantage by providing scholarship support to bright but disadvantaged Australians, who are the first in their family to attend university. We are partnering with Ormond College to deliver the scholarship, which sees important pastoral support combined with an excellent business education, to students who will likely have little or no support networks in Melbourne.

Rhodes Scholarship recipient and first in his family to attend the University BCom (Hons) 2007 alumnus Daniel Norman

Yours and other alumni support is valued tremendously in being able to provide these opportunities.

If you would like to support outstanding but disadvantaged students at the Faculty, please contact Jonathan Cosgrove on +61 3 9035 4288 or jcos@unimelb.edu.au.

We firmly believe that education is vital to unlocking and developing young people’s true capabilities. Alumni Matters October 2010 15


Calendar of events There are several Faculty and alumni events planned for the rest of the year. Please save the date for those you would like to attend. Details, including how to register, will be published on the alumni website and in the Business and Economics alumni e-newsletter, eComm, as soon as they become available. For updates please visit www.fbe.unimelb.edu.au/alumni. For enquiries about any of the events below, please contact Christine Cheng on (03) 8344 3507 or at cche@unimelb.edu.au. OCTOBER Young Alumni event @ KPMG Date: Tuesday 12 October Time: 6.00pm – 8.00pm Venue: KPMG, Collins Street Speaker: Paul Bassat, Joint CEO and Co-Founder, Seek Ltd UMCAS 40+ Reunion Date: Friday 15 October Time: 12.30 for 1.00pm – 3.00pm Venue: Upper East Dining Room, University House Cost: $50 RSVP by 8 October The Foenander Public Lecture Date: Wednesday 20 October Time: 6:30pm – 7:30pm, followed by refreshments Venue: Theatre A, Elisabeth Murdoch Building Speaker: Dr Simon Longstaff Topic: Reflections on the Harvester Case (ethics in the contemporary workplace)

NOVEMBER BCom ’04-’09 Young Alumni Reunion Date: Thursday 11 November Time: 6:30pm – 10:00pm Venue: Deck 10 Level 10 & 11 Adelphi Hotel 187 Flinders Lane Guest speaker: Scott Pape, “The Barefoot Investor” Cost: $20 pp, earlybird $15 pp if paid by 11 October RSVP by 5 November

Department of Finance Honours Alumni dinner

Date: Tuesday 26 October Time: 6.30pm – 10.00pm Venue: The Westin Melbourne Speaker: Avi Gilboa, Managing Director, Unitas Capital (Melbourne) Cost: $50 RSVP by 20 October Department of Economics Honours Alumni End-of-Year event Date: Thursday 28 October Time: 6.00pm – 8.00pm Venue: Rydges on Swanston

Contact details and further information: Faculty of Business and Economics Advancement and Marketing Unit Level 12, 198 Berkeley Street The University of Melbourne Victoria 3010 Tel: 03 8344 3507 Fax: 03 8344 2147 Email: ecom-alumni@unimelb.edu.au Web: www.fbe.unimelb.edu.au/alumni Alumni Matters is edited by Anthea Barry, designed by scdesign.com.au and published by the Faculty of Business and Economics with authorisation from the Director, Advancement. Disclaimer: this information was correct at the time of printing. The University reserves the right to make changes as appropriate.

Finance Alumni event in Hong Kong Date: Tuesday 30 November Time and venue: tbc

DECEMBER HASS (Accounting Honours) Alumni Dinner Date: Friday 3 December Time and venue: tbc

The University also organises a number of alumni events in Melbourne and internationally. To find out what’s happening in your city visit: www.unimelb.edu.au/alumni

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Join our facebook group to stay in touch with what’s happening at the Faculty, and connect with alumni from around the world. facebook group: Business and Economics Alumni @ Melbourne Follow @BusEcoNews for the latest news and research of interest.

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Alumni Matters October 2010