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Capital W Executive Team 2014 What is your favourite thing about Capital W? Whilst it's very hard to choose one favourite thing about Capital W, my favourite aspect would be that you get to meet likeminded, driven students. Not only do you develop a network of contacts, but you also gain a support network of female students who are always willing to give advice about anything relating to university, career paths or even just life generally.
Courtney Moses President Fourth year Commerce/Law
Where is the best place to study? My favourite place to study is definitely the Law Library. It's the quietest study space on campus, and there are always powerpoints available if you need to charge anything.
What's the best advice you've ever received? "Nothing in life is free, there is a trade off to everything.' I would like to let the readers ponder about this advice themselves.
Yafei Fang Communications Director Third year Commerce/Economics
What is your favourite thing about Capital W? Being able to meet a variety of people: students, alumni and professionals, learning and emulating their strengths.
What have you gained by being part of Capital W? Capital W has given me the opportunity to be proactive and to connect with the business world earlier than otherwise. I have formed professional relationships and friendships with inspiring women and men, and have had the fulfilling experience of being a leader and learner.
Jewel Zhu Vice-President
What's the best advice you've ever received? Always set out to achieve, and not merely to aspire.
Fourth year Commerce/Law
What is your favourite way to keep organised? I make use of the calendar on my phone, as well as a physical organiser for keeping to do lists and anything I need to jot down. I feel that the key to being organised is to not be overambitious when setting your goals, and keeping track of what you have already achieved during the day.
What do you know now, that you wish you had known in first year? Time is of the essence, figure out your personality and build character through whatever means e.g. trying different part time jobs, interning, travelling or living by yourself. This will eventually help make career choices easier in the future.
Martha Chan Student Liaison Director Fourth year Commerce/Science What is the best advice you've ever received? Be proactive and go out to find new opportunities, opportunities don't find you.
What is your favourite thing about Capital W? Capital W has given me the most amazing network of friends and mentors across different disciplines, year levels and backgrounds. The people I meet always inspire me with their stories and willingness to share their experience.
What do you know now, that you wish you had known in first year? First year counts in university, in terms of social and academics! Make the most of it.
Where is your favourite place to study? Max Brenner's
Jessica Qin Treasurer
Caroline Wong Secretary
Fourth year Commerce/Economics
Fourth year Commerce/Law
The ReCap 2014 Issue 2 |Page 1
Dear Ladies, Welcome to the Pathways edition of the ReCap! The first semester of university is notoriously busy for both sponsors and students. There are a multitude of events and activities on offer, whether it is a society workshop or sponsor information session to attend, a case competition to enter or an application to write. You should use these events as a catalyst to reflect on your own personal career aspirations; what are your passions? Where do you want to be in five years time? We often have the impression that there is one avenue, and one avenue only, to pursue our desired career path. Our sponsor contributors to the ReCap provide an insight into the path they have taken to occupy the position they are in today. You will be pleasantly surprised at the various roles that our interviewees have assumed over the course of their careers thus far. Whilst it is important to have goals and a plan, it is just as important to have an open mind and consider roles to which you may not have given any previous thought. Above all, use the resources available to you to gain an advantage heading into the internship recruitment season. Actively immerse yourself in the industry youâ&#x20AC;&#x2122;re interested in by reading the news, attending networking events, such as our Annual Dinner, and skills workshops. Capital W provides you with so many opportunities to build your own personal network with both your own peers and our sponsors. Take advantage of what we are providing you!
Capital W Executive Team 2014 Meet the Executives!
Market ReCap By Yafei Fang
Navigating the Pathways of Information By Courtney Moses
Bank of America Merrill Lynch Exclusive Interview with Adrienne Bloom, Managing Director, Corporate Banking
Citi Exclusive Interview with Josephine Majewski, Chief Operating Officer, Investment Banking
Credit Suisse Exclusive Interview with Emma Jane Newton, Director, Investment Banking
Commonwealth Bank Exclusive Interview with Malini Raj, Executive Manager, Retail Banking Services
Deutsche Bank Exclusive Interview with Honor McFadyen, Managing Director, Sovereign and Real Rates Corporate Banking & Securities: Markets
The pathway you take is the one you create for yourself. Courtney Moses President, 2014
EY Exclusive Interview with Sarah Yeo, Director, Risk Advisory
Goldman Sachs Exclusive Interviews with Rachana Kousik and Andrea Pitt, Corporate Advisory
Macquarie Group Exclusive Interview with Courtney, Relationship Manager, Banking and Financial Services
UBS Exclusive Interview with Marissa Freund, Executive Director
Recruitment Calendar and Capital W Semester 2 Events Calendar
Editor Yafei Fang Communications Director Our contributors for this edition Yafei Fang Caroline Wong Courtney Moses Jewel Zhu Martha Chan Jessica Qin Jennie Yiu Mary Ye Lauren Maxwell Disclaimer: "The Market ReCap" article is general in nature and written by a student. The information should not be construed as professional financial advice and/or opinion. Statements and opinions expressed are of the author and do not represent the opinion of Capital W. The author and Capital W will not be held responsible for any liability arising from your actions. Please do your own research and come to your own conclusions, or consult with a licensed professional.
The ReCap 2014 Issue 2 |Page 2
Market ReCap Yafei Fang Communications Director It has been an interesting interlude into winter for the market and the global economy. Over the past few weeks we have seen equities markets push on despite a sell-off in US technology stocks. The bull market continues its rise upwards. The Australian equities market has also risen, however, it is currently taking a hit from lower iron ore prices and China's growth concerns. In the last edition of The ReCap I mentioned the large number of IPOs in the works for the year. These have come to fruition with many private equity firms exiting their older investments. The privatisation of government assets continues, with the Medibank mandate likely to be the largest this year. M&A activity also shows signs of possibly taking off.. The Australian Federal Budget has been largely unappealing, in particular to university students, who are the target audience of this article. However, how has it affected other realms of the economy? A new Asset Recycling Fund will hopefully help construction and transportation companies, given the lack of mining investment. GP co-payments and frozen Medicare schedules are likely to hit pathology and medical centre operators. To top it off, the budget lowers economic growth, which is not good news for retailers either. To an extent, these implications were a theme on ASX the day after the budget announcement.
With regards to the US, US tapering continues ahead, with Janet Yellen taking the helm of the Federal Reserve. The Federal Reserve has been reluctant to set out a timetable for tapering and possible shortterm rate rises, noting that they are to be determined by the prevailing economic conditions. The US Federal Reserve is expected to announce another $US10bn cut in its monthly bond-buying program to $US45bn. The S&P500 is trading on a forward P/E multiple of 16 times, high by historic standards and implying that investors continue to be confident about US company profits and revenues. US bonds continue to trade on a low yield, painting a different picture of the economy. Europe's deflation concerns continue. Growth in the EU was 0.2% in the first quarter, 0.8% annualised, which was significantly lower than what was expected. Mario Draghi, ECB President, indicated possible stimulus in June given weak annual inflation of 0.7%, well below the ECB target of 2%. Into the future, macroeconomics themes will continue to determine the direction of the global markets. Key macroeconomic themes for Australia will come out of the US and Chinese markets. The Market ReCap is intended to provide context to the world around global markets, and what ultimately drives them. I encourage all our readers to always ask why the market moved like it did today.
In world news, Japan experienced a surge in spending just before the sales tax hit, boosting the economy for the first quarter.
The ReCap 2014 Issue 2 |Page 3
Navigating the Pathways of Information Courtney Moses President I can safely say that I am a routine person. There are certain things I like to do each and every day. These include consuming one skim latte, checking my emails, scrolling through my Facebook newsfeed and reading the latest news. So, why is reading the news important? More importantly, why is reading the financial news important? By keeping up to date with the latest local and global events, you are immediately furthering your understanding of the industry. Through constantly reading the financial news, you will be inadvertently placing the terminology you learn from your courses into practice. You will develop an understanding of how these terms are used and applied in reality. Even if you do not study finance, like myself, you will gain an awareness and understanding of the typical jargon used in the industry. You will also start to gauge what captures your attention, whether it is a certain type of transaction or a particular industry sector. Finally, by remaining informed you are automatically placing yourself ahead of your peers. You are able to demonstrate to firms that you have knowledge of the industry through an awareness of current events. To put it simply, there is no better way to signal your interest to a firm than to be able to hold a conversation about what has made headlines.
Student subscription to the Australian Financial Review (AFR) – this is a yearly digital subscription available exclusively to students and allows access to the AFR via the Internet, smartphone or tablet. It only costs $99! Social media – major publications and firms have Facebook and Twitter accounts.
The capacity of social media to keep us informed is underrated. For example, Twitter is a convenient way to scroll through headlines and instantly become updated, without spending more than five minutes of you time. Major publications, such as The Economist, will often link to articles that are available for free and thus you can avoid the costly subscription prices. From personal experience, the most informative Twitter accounts include The Economist (@TheEconomist), Bloomberg (@BloombergNews), TIME (@TIME and @TIMEBusiness), Harvard Business Review (@HarvardBiz) and Wall Street Journal (@WSJ). Make reading the news part of your daily routine. Spending half an hour every day or $99 a year is a relatively minor investment for the potential return it has for your future career.
Now that you know that reading the news is important, it is equally as important to understand how to access it. The modern world is full of information. With the click of a button, we are able to discover what is making headlines on the other side of the globe. At times, this wealth of information can be overbearing. However, there are certain ways you can channel this information to ensure you remain updated.
The ReCap 2014 Issue 2 |Page 4
EXCLUSIVE INTERVIEW WITH ADRIENNE BLOOM Adrienne Bloom
opportunities youâ&#x20AC;&#x2122;re after.
Managing Director Corporate Banking
How have you managed your career so far?
What is your background? I have an undergraduate degree in Chemistry and then completed postgraduate studies in Accounting and Finance. I am also CPA-qualified and a Fellow of FINSIA. I have been in banking my entire career. I started as a junior accountant before moving to Financial Control. Later, I joined the team in Structured Finance for banks. Currently, I am a Managing Director within the Corporate Banking business at Bank of America Merrill Lynch. In this role, I lead the financial institutions group, providing corporate banking services to financial institutions in Australia, including lending, foreign exchange and other banking services. Describe yourself in 2 words.
You have to be cognisant of change within the industry, especially in a very dynamic industry like banking. It is important to manage your career in the context of what is going on in the market as well as your own personal circumstances. You may want to fast track your career while other things take priority. But you should always be proactive and take opportunities such as courses, projects and senior roles as they arrive. In every role that you take, you should at least consider whether the role gives you more seniority and/or opportunities to develop more new skills. Did you always aspire to be in the role you are now? If not, how did you end up in your current role? Iâ&#x20AC;&#x2122;ve always wanted to be in banking. So I ended up in my current position through a natural evolution. What has been the most challenging experience since you have started your current role?
Motivated and results-driven. What advice would you give to a student in the recruitment process? Donâ&#x20AC;&#x2122;t be constrained by the nature of your undergraduate degree for your first role. Employers these days are looking for individuals who are smart, motivated, possess strong communication skills and are able to provide a diversity of thoughts and inputs. True technical skills can be taught on the job, so it is important to study something that you are interested in. Would you say that the opportunities available are limitless? Yes, particularly as we live in a global world where industries and countries are so interconnected. It is just a question of which path you choose, and you may need to take a different path in order to get the
As I am responsible for setting the strategy and ensure the delivery of results, it is important to have the flexibility to adapt to a very dynamic market place. You need to be very focused on delivery in order to overcome these challenges. What is the biggest career risk you have taken that has brought you to where you are? During the GFC, I was in Structured Finance which involved dealing with highly complex structures and financial instruments. I decided to seek other opportunities after the GFC, and make the change to a different career path. Although it might have seemed incongruous at the time to join a US bank, especially when Banks were facing regulatory difficulties, I had faith that the financial markets would bounce back.
The ReCap 2014 Issue 2 |Page 5
EXCLUSIVE INTERVIEW WITH JOSEPHINE MAJEWSKI
Josephine Majewski Chief Operating Officer Investment Banking
Did you always aspire to be in the role you are in now? If not, how did you end up in your current role? No. I didn’t even know these roles existed when I started working. I ended up in my current role by taking on new projects and letting people know that I could help them. What has been the most challenging experience since you have started your current role?
What is your background? I have a master in Finance from the University Lumiere Lyon 2 in France. I am currently the Chief Operating Officer for the Corporate and Investment Bank department of Citi. I started my professional career as an auditor for PWC. What advice would you give to a student in the recruitment process? Spend the right amount of time preparing for the interview process. Preparation is essential. Make sure that when you leave the interview room you have told the interviewers all the important things you wanted them to know about you (have your mental list prepared).
The most challenging but also interesting was probably about relearning everything about a new company (processes and people etc.). What is the biggest career risk you have taken that has brought you to where you are? Accepting to project manage the float of Telstra 3 for ABN AMRO in 2006. This was a very big and complex transaction involving more than 400 people. For your industry, what skills do you find the most important to develop? Resilience and strong people skills.
How have you managed your career so far? No real plan but I have always put my hand forwards for any new opportunities that sounded challenging. A “Can do” and positive attitudes are essential to progress a career.
The ReCap 2014 Issue 2 |Page 6
EXCLUSIVE INTERVIEW WITH EMMA JANE NEWTON Emma Jane Newton
How have you managed your career so far?
Director Investment Banking Division (Telecom, Media and Technology)
Through international mobility: having worked in Melbourne, New York, London and Sydney. I made decisions that enabled me to have work experiences in different parts of a bank. I made sure I had good support from members and leaders of my team, and from my managers to help me grow and develop.
What is your background? In my first year and second year I studied Bachelor of Engineering at Monash University due to my interest in science and maths. However, after going to a few engineering plant visits, I couldn’t see my final career path in engineering therefore I decided to transfer to a Bachelor of Commerce degree in my third year. I chose finance and econometrics as my majors as it involved a more interesting application of maths. I went on to complete an honours degree specialising in finance and econometrics. My thesis was on capital asset pricing model. During my university life, I worked part time work for lecturers and was a university tutor.
What has been the most challenging experience since you have started your current role?
Energetic, competitive and driven.
Making the transition from a capital markets role in London to an Investment Banking advisory role in Australia was a major challenge. The time it took to reestablish relationships was longer than I expected. Not only that, it was the GFC period, so I was faced with the challenges of having to generate revenue and reputation for the bank in addition to establishing myself and my knowledge. I overcame these challenges by continuing to work hard, staying on focus, not being afraid to ask for support, leveraging global and local relationships and having a good team of motivated people.
What advice would you give to a student in the recruitment process?
For your industry, what skills do you find the most important to develop?
Do your homework. Show you are genuine and passionate. Be careful not to over rehearse, as you may be perceived as disingenuous. Be sure of your knowledge and skills and don’t be afraid to talk about them. When I am hiring people, I look for people from diverse backgrounds, cultures, and degrees. I look for people that are able to generate a fresh perspective on matters.
For a graduate, what differentiates those who makes an exceptional contribution from those that make an average contribution are qualities like being proactive, positive in demeanour, willingness to learn, grow and develop, problem solving skills, analytical skills, good judgment and team work skills.
Describe yourself in 3 words.
Would you say that the opportunities available are limitless? My mother always told me “there is no such word as can’t” and I have applied this to my career. Be sure about what you want, if you’re passionate about something then I believe you can achieve what you set out for.
Is there anything you would like to add in regards to career advice? Like Capital W, I continue to participate in initiatives to improve gender balance in finance. I am a mentor for women and I am part of the Women in Banking and Finance organisation. I firmly believe that this industry is an exceptionally rewarding career for women to succeed in.
The ReCap 2014 Issue 2 |Page 7
EXCLUSIVE INTERVIEW WITH MALINI RAJ Malini Raj
Area Manager), each gave me a broad experience, insight, developing my networks and increasing my visibility within the business and with senior management.
Executive Manager Retail Banking Services CommBank What is your background? I studied the Bachelor of Accounting (B.Acc) as a Cooperative Scholar at UTS majoring in Accounting and Finance and subsequently completed my Masters of Applied Finance and Investment (FINSIA/Securities Institute). I am currently an Executive Manager in Retail Banking Services at CommBank. I’m responsible for developing and facilitating execution of the small business banking capability strategy for CommBank’s Branch network as part of the “Branch of the Future” Program. Prior to CommBank, I commenced my career in an Investment Banking Graduate program, which provided me with a tremendous foundation. Since then I’ve held various roles with Citigroup, Wilson HTM, Pacific Road Corporate Finance, Westpac and Hastings Funds Management. Having worked in such diverse roles, I have been fortunate enough to develop a solid base of experience and transferable skills in Accounting, Property, Equity Capital Markets, M&A, Project Management, HR, Business Strategy & Change Management in Retail & Institutional Banking. Would you say that the opportunities available are limitless? Yes, if you are ambitious, focused and proactive – the opportunities are limitless. I was one of two participants in the Group’s “Executive Manager Development Program”. Specifically tailored and sponsored by CommBank, the position involved gaining exposure to various areas. The accelerated program gave me the opportunity to spend a short time in relief capacity in a variety of roles throughout the year within the Network Branch Manager, Lender, Customer Service Manager, Deputy
Now you are working at CommBank full time – is being involved in extra-curricular activities still relevant – does CommBank support this? YES! Having interests outside of work is important to me and is encouraged by CommBank who have a strong focus on work/life balance. I am still heavily involved in FINSIA as a mentor & board member. I’m also involved in the Starlight Children’s Foundation, where I volunteer fortnightly. I am also part of a choir – Polyphony. CommBank also has several opportunities to get involved in areas that you are passionate about within the organisation. Promoting diversity is a strong focus of the Group, including gender diversity through our ‘Women CAN’ initiative and Cultural Diversity through our ‘Mosaic’ network. I am very passionate about promoting gender and cultural diversity within the organisation. Do you recommend taking considered risks in the early stages of your career? There have been roles in areas which I have not been entirely qualified for, or in an area which I am not familiar, or I may not have previously considered trying. I approached the roles with a view that they would broaden my skill set and give me a greater suite of transferrable skills. I saw these roles/secondments as opportunities to learn a new skill set and to be exposed to a different area of the business – so I took risks and believed in my ability to succeed, and persuaded those interviewing me to do the same. My philosophy is that “any situation or experience at the early stage in your career is not a waste of time if you learn something from it”.
The ReCap 2014 Issue 2 |Page 8
EXCLUSIVE INTERVIEW WITH HONOR MCFADYEN Honor McFadyen Managing Director Sovereign and Real Rates Corporate Banking & Securities: Markets What are the most attractive things about a career in investment banking? It’s very dynamic – things move very quickly and every day is different. Our industry also attracts very talented people – people with real passion for what they do and great people to learn from. It’s also very rewarding. Not only from a financial point of view but on a professional level – you acquire new skills, build global networks and are challenged constantly. It provides a great platform for future success.
embrace technology. If you consider the challenge of being more innovative under increased regulatory constraints and in a global context, you can understand that only the brightest minds will enable us to remain competitive. As a woman in leadership in a male-dominated industry, what challenges have you encountered and what strategies have you used to get through them? I think the challenges at Deutsche Bank are much like those of any organization. Juggling work/life priorities inevitably falls more on a woman’s shoulders and this will always be a factor which needs careful consideration. As a mother, having flexible childcare at home has been crucial for me.
What sort of career opportunities are available? Deutsche Bank offers a vast range of opportunities across its four business areas: Corporate Banking & Securities; Asset & Wealth Management; Global Transaction Banking; and Private & Business Clients. In addition, our Infrastructure divisions offer careers in everything from Technology and Operations, through Risk and Compliance, to Human Resources and Communications. From a regional perspective, opportunities to launch your career with us are primarily through our Internship and Graduate Programs – especially in Corporate Finance and Markets. We typically have opportunities here in Australia as well as in our other regional hubs in Asia: Hong Kong and Singapore. With the issues surrounding the global economy and the banking industry entering a new era - is now a good time to start a career in the sector? Yes, definitely. The past few years have undoubtedly seen a significant shift in the role of banking in the global economy. Whatever the future holds, the banking system will need to continually evolve to meet the needs of clients whilst regaining the trust of society. In order to achieve this for Deutsche Bank, we need high achievers who have the ability to transform business strategy, create new opportunities and
Focusing in on the work environment, over the years I’ve learnt to stand up for myself a lot more and make sure colleagues take notice. In the early part of my career, opportunities were fewer, but in recent years this has changed immeasurably and there are many programs focused on developing female talent within the bank. The Bank is also firmly committed to enabling work/life balance for all staff and provides many benefits such as child care support and flexible work arrangements. What do you look for in young talent? What should students be doing now to prepare them for a future in the banking industry? We look for a wide range of people from all sorts of backgrounds as we believe that diverse teams are smarter teams. However, what brings us together as Deutsche Bank employees is genuine passion and enthusiasm for what we do and, perhaps most importantly, the integrity and commitment that commands the respect of colleagues and clients alike. In your early career, it’s important to bring an open mind, the ability to learn quickly and the responsibility to work ethically. My advice would be to build a broad range of skills, develop your knowledge of the industry whichever way you can and work hard to gain appropriate experience whilst building strong networks.
The ReCap 2014 Issue 2 |Page 9
EXCLUSIVE INTERVIEW WITH SARAH YEO depends on your qualifications, experience, personal drive and the business needs. For example, I began in Assurance, building the foundations of my financial risk and control knowledge.
Sarah Yeo Director Risk Advisory, EY What is your background? I went to Burwood Girls High School and studied Commerce at the University of New South Wales, majoring in Accounting and Information Systems. I then started as a graduate at EY in the Assurance division. My initial industry focus was Telecommunications and Entertainment Media. After moving into Advisory in the Risk team, I now focus mostly on government clients, but also work with the telecommunications and property industries. Describe yourself in 3 words. Ambitious, passionate and hard-working. What advice would you give to a student in the recruitment process? Study the organisation you are applying to and demonstrate that you really know what their business does. Itâ&#x20AC;&#x2122;s important to speak to people who work at the organisation at recruitment events. To set you apart from other candidates, you need to articulate what the role involves and your passion and desire to want to work there. You can achieve this by giving examples of how you would conduct that particular role. The other aspect is to demonstrate your level of business acumen and professionalism. Understand and keep up-to-date with business issues and consider how you can apply that knowledge in terms of the role you are interested in. You need to show the right attitude, which includes personal drive and the willingness to learn. Would you say that the opportunities available are limitless?
I found that I wanted to explore risk and control further, and pursued the opportunity to move into Risk in the UK. The move to the UK was fueled by my personal and career ambitions. I was supported by management in my pursuit of a secondment to the UK and as a result, secured a position in the Advisory practice for a period of time. How have you managed your career so far? I began by understanding what I wanted in my career and building a career plan, with a timeframe setting out the steps I needed to take. It has been important to be surrounded by the right people. These include fantastic mentors, both formal and informal, who helped me see what my pathway looked like. I have found that it is important to develop close relationships at work within my team because they have helped me to move forward, but also to develop solid relationship with my clients as they provide the work and basis on which I can progress professionally. What is the biggest career risk you have taken that has brought you to where you are? Looking back, the biggest career risk has possibly been going to the EY London office during the global financial crisis. I had been warned that the work might not be plentiful and not the type of work I was hoping to do. However, I still took the risk because it fulfilled my personal desire to travel and maintain my career at EY. I was very fortunate to work with many clients, including a large infrastructure organisation in the UK. My experience in London helped drive my career forward as I learnt and applied different skillsets. Taking the risk also solidified my desire to stay at EY long-term.
There are a lot of opportunities and it certainly
The ReCap 2014 Issue 2 |Page 10
Goldman Sachs Career Path and Application Advice Rachana Kousik, Associate, Natural Resources Team I went through the application process for financial services internships in 2006. I wrote and re-wrote my resume multiple times and I came up with 17 different introductions, before settling on "My name is...and I am applying for...". A good application that stands out amongst the crowd requires a lot of research and effort. Whilst it can be a daunting process when you first sit down to write an application, try to remember the application process is more important than any single assignment or exam at university and therefore warrants as much time and effort as a 3 unit subject that you'd like to HD! Based on my experience on recruitment committees, below are a few tips on writing a good application: - Match your skills to the job: Before you start writing, research the role you are applying for and make a list of the top 3-5 skills required to do the job. Think about varied examples from your academic, professional and extra-curricular activities that best match these skills. - Focused applications: Given the number of applications firms receive, recruitment committee members generally only have up to 5 minutes to read an application in the first round. Make these 5 minutes count, by ensuring your application is focused on the skills required for the job you are applying for. Tip: Hand a final draft of your CV and cover letter to friends or family members and ask them to skim read your application in 3 minutes. Then ask them what 3 things about you stood out the most. If the 3 things they mention are not aligned with the skills you're trying to highlight, then you should probably revisit your application. - Make it interesting: Whilst good university results and relevant professional experience are a great start, it always helps to have something interesting on your application to help you stand out - even just a line or two. For example, in 2000 (my high school years), I was part of the Sydney Olympics Closing Ceremony. I was one in a cast of thousands and didn't think much of it, but to my surprise, I was asked much more about this experience than a corporate finance challenge I'd done during university! These are just a few tips and I hope they help. All the best with your application.
Andrea Pitt, Analyst, Credit Capital Markets Team There are innumerable potential pathways in your career and at GS including in different divisions, overseas, and different teams within a division. I personally started in the Natural Resources corporate advisory team where I worked predominantly with mining clients on M&A related activities. I then rotated into the Leveraged Finance team in the Financing Group, where I worked on US capital markets transactions for Australian sponsors and corporates, acquisition financing and structured finance transactions across a range of industries. I am also currently considering several potential opportunities in an overseas office as part of the mobility program for junior associates. In recent years analysts from Sydney Corporate Advisory have moved to Hong Kong, Beijing, London and New York, as well as into several different teams in the Securities division. I believe it is important to be open to different options. Try not to view your career in a narrow way or be afraid to challenge yourself, as you never know what might be out there, where your next step might take you, and what might be right for you. However, to make sure those opportunities will be open to you, it is important to work hard, develop a good reputation, make your goals known and build networks within the firm.
The ReCap 2014 Issue 2 |Page 11
EXCLUSIVE INTERVIEW WITH COURTNEY At Macquarie there are no set pathways in an individualâ&#x20AC;&#x2122;s career, we encourage everyone to define their own career within the roles they undertake. You are in charge of your own direction and drive it by pursuing opportunities and being involved as much as possible. Your efforts are rewarded at Macquarie and we encourage staff to be proactive in seeking new challenges to further themselves professionally. Careers today, particularly at Macquarie take many shapes and forms. It is not just about climbing the corporate ladder, career development can occur through lateral movements between divisions, promotional opportunities as well as global mobility. In order to gain an insight into the pathway of one of our previous graduates, Courtney, you can read below the journey she has taken since joining Macquarie.
Throughout the next three years I assisted with the training of junior analysts, worked on national projects within the analyst team and presented to clients. Macquarie provides additional responsibility once you have proven yourself and when you ask for it.
Courtney Relationship Manager Banking and Financial Services
After this time I moved into a client facing role as a Relationship and Business Development Manager, which I have been in for almost four years. I look after a loan portfolio consisting of 30 small to medium enterprises and high net worth clients, which has enabled me to develop strong relationships with these businesses and the Directors behind them. I also speak to prospective clients throughout the day to both discuss Macquarie Business Bankingâ&#x20AC;&#x2122;s place in the market and how I could assist them to achieve their business and personal goals. This incorporates presenting lending proposals to company directors, analysing company financials and reviewing lending submissions for approval by the Bank.
What did you study at university and what subjects did you enjoy the most?
What advice could you give students thinking about undertaking an internship this summer?
I studied a Bachelor of Commerce (Corporate Finance and Management) and Bachelor of Arts (Political Science & International Relations and Anthropology) at The University of Western Australia.
An internship at Macquarie is as much about the company getting to know you as it is about seeing if Macquarie is where you want to work. Macquarie is recognised for its high-performance culture and as such an internship can be a big shift from university life both in terms of responsibilities and hours in the day. While there will be an adjustment, it is important to note that Macquarie rewards and recognises individuals who are passionate and committed to their roles. I would strongly encourage interns and graduates to contribute ideas and suggestions and to get involved in all opportunities provided, for example networking events for graduates and more broadly within the Bank, training seminars, client and charity events and social events with your colleagues.
I loved the variety that my studies provided, I particularly enjoyed Applied Financial Management and Global Governance. How long have you been at Macquarie for and what was the first role you undertook when you commenced? I completed work experience in 2005 and commenced my career with Macquarie in 2007 as a graduate Client and Risk Analyst, working part time through my final semester of university. This initial role entailed the analysis of company financials and preparation of credit proposals. I was also fortunate enough to co-attend client meetings to understand clientsâ&#x20AC;&#x2122; banking requirements first hand. What changes to your career have experienced during your time at Macquarie?
What are the most rewarding aspects of your role? Having close relationships with our clients means that I am a trusted advisor for them. I think the most tangible reward is the recognition that the advice I have provided and the decisions I have made, contribute directly to the success of what will be some of the biggest decisions of their lives - such as purchasing a business or acquiring property assets.
The ReCap 2014 Issue 2 |Page 12
EXCLUSIVE INTERVIEW WITH MARISSA FREUND Looking back on your career move, what attributes would you say are the most important to develop for starting a career in investment banking?
Marissa Freund Executive Director One of the greatest hurdles faced by young females is what appears to be a trade-off between establishing a career and family life. Capital W explores this as well as the experiences and challenges within investment banking with Marissa Freund – investment banker, UBS Executive Director and soon to be a mother of two.
The three things we look for are technical skills, passion and personality. Technical skills will help you a lot in financial analysis, which is fundamental to the role of an analyst. However we also want to see passion for the industry and we want to see your personality come through. When we’re working long hours, we want to be surrounded by people we like.
What is your background? I went to UNSW and studied a combined Commerce and Law degree. After graduating, I joined what is now known as King and Wood Mallesons as a lawyer, and in 2005 I made the switch to the Mergers and Acquisitions team at UBS. I am now an Executive Director within the General Industrials team where my focus is predominately on consumer and retail businesses. Why did you gravitate towards the law side of your combined degree? I enjoyed both finance and law equally, however it never occurred to me to apply to an investment bank upon graduation. Perhaps I was cautious because I didn’t imagine it would be a friendly environment, or perhaps I was so involved in the student culture of my law school that I didn’t think to explore other options. What sparked your interest in investment banking and why did you make the switch? I was working on a deal at Mallesons when I met two very senior female bankers who were also working on the same deal. I saw that they’re not that different to me, and if they can do it then I can probably do it too. In investment banking, I’m involved throughout the entire deal lifecycle, which makes it far more interesting, whereas my job at Mallesons was more focused on the execution side of a deal.
I’m very lucky in that I married someone who was also in investment banking. When I first joined UBS, I used to sit in a pub with my husband every weekend. While he watched the footy, I would build a financial model then hand it over to him to critique and we would do this on repeat every weekend! What has it been like since you joined? As I moved from being an Associate to an Executive Director, I have become a lot more involved in originating ideas for a deal. This calls upon entrepreneurial skills that I’m still trying to develop. On the personal side, I have taken leave to have a child in and I will be taking leave in another three months to have my second child. How has UBS supported your career progression, especially with respect to starting a family? UBS has been incredibly supportive, which may be surprising to a lot of people. The fact that there are not a lot of women in investment banking means that the bank has more flexibility to accommodate your needs. I have been given challenging and stimulating work since I returned. Although my decision to start a family and join investment banking is not deliberate, I am incredibly lucky to have such a positive and supportive experience.
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Capital W Calendar Semester Two Events Week 4 Intro to Industry Week 5 Business Etiquette Week 6 Networking Workshop Week 9 Capital W Week Early Summer Holidays End of Year Social Please note that specific dates and times will be confirmed closer to the events. We will give notice of this in the fortnightly e-newsletter and place the details on our website and Facebook page. Sponsor events will also be held throughout the semester.
Recruitment Calendar Summer Internship Deadlines ANZ Bank of America Merrill Lynch Citi Credit Suisse Commonwealth Bank Deutsche Bank EY Goldman Sachs Macquarie Group Westpac Institutional Bank UBS
Open: 21 July Close: 15 August Close: 3 July (Melbourne) at 12pm/ 24 July at 12pm (Sydney) Close: 3 July (Melbourne) at 12pm / 24 July at 12pm (Sydney) Close: 3 July (Melbourne) at 12pm / 24 July at 12pm (Sydney) Open: 30 June Close: 3 July (Melbourne) at 12pm / 24 July at 12pm (Sydney) August Vacationers (NB: This is subject to available positions being filled) Open: Monday July 14 (Rolling recruitment) Close: 3 July (Melbourne)/ 24 July (Sydney) Open: 9 June (Melbourne)/ 7 July (Sydney/Perth/Brisbane) Close: 3 July (Melbourne)/ 24 July (Sydney/Perth/Brisbane) Open date: Early July (TBC) Close: 3 July (Melbourne)/ 24 July (Sydney)
Special Opportunities (Scholarships, Programs and Cadetships) EY
Cadet Program Open: 19 May Close: 18 June Career Compass Open: July Close: August (Exact dates TBC)
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About Us Capital W is the first and only dedicated undergraduate women’s business club at the University of New South Wales and in Australia. It was founded in 2007 by UNSW Co-op scholars as a grassroots approach to bridging the gap between university and the corporate world. Our goal is to motivate and educate talented female students of today – to give them the skills, confidence and inspiration they need to become successful business leaders of the future.
Our Vision To form a business-related women’s club with a reputation for attracting talented female students and equipping them with the skills and networks to become future business leaders.
Our Mission To advance the career development of women in business through a network of undergraduates, professionals and faculty.
Stay Connected! Keep up to date with the latest Capital W news, events and sponsor information via our website, capitalw.org, or like us on Facebook at facebook.com/capitalwinc or on Instagram, Capital_W.
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