Alumni Matters July 2014

ALUMNI MATTERS Annual magazine for Business and Economics Alumni fbe.unimelb.edu.au/alumni Vol. 4 august 2014

The goal setter

Paul Hameister’s entrepreneurial journey

Shanghai bound Jill Tang’s insights deliver for Chinese students going home

Inside:

Accounting in China World-leading CO2 research Melbourne Institute’s HILDA findings

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Meet our top alumni for 2014 Learn more about alumni mentoring

FBE news:

features

august 2014

04 Melbourne Foundation Dinner

06 Alumni of Distinction

08 Accountancy in China

20 Alumni profile

26 Alumni mentoring

in this issue 02 Alumni Council update

08 Accountancy in China

20 Alumni profile: Jill Tang

28 Double degrees

03 Faculty Research

10 Newsflash 16 Student focus

22 Alumni profile: Paul Hameister

30 Donor Roll of Honour

04 Annual Melbourne Foundation Dinner

26 Alumni mentoring

33 Upcoming events

06 Alumni of Distinction

18 Alumni postcards

Cover image: Paul Hameister (BCom, LLB 1992); photographed

by Joe Vittorio

32 Vale: Colin Ferguson

Alumni Matters August 2014 Edited by Rubina Bulot, Christine Cheng, Emily May, Vincent Ramos Copy editor: Angela Martinkus Contributors: Eoin Hahessy, Rees Quilford, Rohan Workman, Susannah Woodward Designed by Sophie Campbell, scdesign.com.au Authorised by the Director, Advancement. ISSN: 1839-0420

See page 22

Disclaimer: this information was correct at the time of printing.

The University reserves the right to make changes as appropriate.

Alumni Relations, Advancement Unit Faculty of Business and Economics Level 12, 198 Berkeley Street University of Melbourne VIC 3010 T: +61 3 8344 3507 E: fbe-alumni@unimelb.edu.au F: +61 3 8344 2147 W: fbe.unimelb.edu.au/alumni

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Published by the Faculty of Business and Economics at the University of Melbourne, Alumni Matters is a magazine for alumni of the Faculty of Business and Economics.

It is published once a year and is available in print and electronic format. The Faculty also publishes four editions per year of eComm, an e-newsletter for alumni.

If you would like to receive eComm, please ensure that your email address is up-to-date. You can do this via the University’s online alumni portal: http:// alumni.online.unimelb.edu.au/mydetails

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Business and Economics at Melbourne

Business and Economics Alumni University of Melbourne

墨尔本大学商 业经济学院

deans’ welcome Dear Alumni As we embark on our second year as Co-Deans we are delighted to update you on the latest developments in the Faculty of Business and Economics. With the collaboration with Melbourne Business School now in its second year, a University-wide philanthropic campaign launched and faced with significant government budget cuts, it has most definitely been a year of change, innovation, growth and challenge.

Professor Paul Kofman It should come as no surprise that, by any number of measures, the Faculty continues to deliver world-class education and research in business and economics.

Not only do our students continue to benefit from world-class academics in the classroom, they also benefit from a rapidly expanding program of internships and business projects with corporate partners in Melbourne and abroad. In 2013, over 200 students took part in a Business Consulting Project in Melbourne, or the Global Business Practicum in Bangkok, Hong Kong, Mumbai, Santiago de Chile, Shanghai and Singapore. Our students deliver real outcomes in these consulting projects, and we find many corporate partners return with new projects for the next cohort to tackle. You can read more about the student experiences on page 16 of this edition.

As a faculty, the impact of our research continues to grow. We are delighted that we recently attracted three world-leading academics to join the Faculty to bolster our research and teaching capacity in their areas of discipline expertise.

Professor Peter Bossaerts is one of the world’s leaders in experimental finance and neuro-science decision-making research in finance and economics.

Professor David Ribar is a world authority on the economics of poverty, household economics and food security. Professor Julie Ozanne’s research focuses on transformative consumer research that seeks to address the wellbeing of poorly literate and low-income consumers.

We are truly excited that these pioneering academics have joined us. Each one of them is at the cutting edge of their respective disciplines and their appointments underscore our commitment to world-leading research with practical and public relevance to the challenges faced by business and society.

In making these key academic appointments and while investing in quality courses, student experiences, personal effectiveness skills and career support services, the University of Melbourne faces a challenging funding environment.

The proposed budget cuts to education

Dean, Faculty of Business and Economics Sidney Myer Chair of Commerce

Professor Zeger Degraeve Dean, Melbourne Business School and Dean, Faculty of Business and Economics

The Faculty’s scholarship program continues to grow strongly, aligned with the Campaign’s objective of educating tomorrow’s leaders, in large part due to the philanthropic generosity of alumni.

It gives us great pleasure to report that the Faculty now offers 317 scholarships for our best and brightest students regardless of their circumstance!

In 2013, over 200 students took part in a Business Consulting Project in Melbourne, or the Global Business Practicum in Bangkok, Hong Kong, Mumbai, Santiago de Chile, Shanghai and Singapore.” imply that universities once again have to seek alternative forms of funding and the University of Melbourne has begun the challenging work of framing a response to the budget cuts.

We hope that you enjoy this year’s edition of Alumni Matters. We look forward to engaging with you in the not too distant future and continuing to build strong relationships with all of our alumni here and abroad.

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Many of you will know that the University of Melbourne last year launched Believe – the Campaign for the University of Melbourne. The Campaign is the largest philanthropic initiative in the University’s 160-year history, aiming to raise $500 million by 2017 through its fundraising objectives – educating tomorrow’s leaders, finding answers to the world’s grand challenges and enriching our communities.

The great news is that the University has currently raised over $300 million towards that goal. We thank all alumni and friends whose donations have helped us reach this milestone.

We would also like to take this opportunity to thank our wide community of alumni volunteers who give their time and expertise through work on our Board and Council, Young Alumni Committee, career mentoring and other Faculty programs.

We would also like to welcome the new chair of our Alumni Council, Larisa Moran, and acknowledge outgoing chair Angus Barker for his dedication and hard work.

alumni council

Fostering lifelong connections

As newly appointed chair of the Business and Economics Alumni Council, it is a pleasure to welcome you to the 2014 edition of Alumni Matters.

Over the past year, we have continued to connect with many of the approximately 47,000 Business and Economics alumni across Melbourne and beyond and we are excited to update you on the Faculty and your community.

I would like to congratulate my predecessor, Angus Barker (BCom (Hons) 1991) for his outstanding leadership as Chair since 2012 and thank him for his dedication as a Council member since its inception in 2010.

I would also like to thank outgoing members Stephanie Barr (BCom 2006) and Joyce Au-Yeung (BCom LLB 2003 EMBA 2013) who have both contributed greatly to driving the Council’s mission.

The Council would also like to welcome new member Chris Smith (BCom 1981), who brings 30 years of experience in banking and wealth management roles across Australia, New Zealand and 11 countries in Asia.

The purpose of the Business and Economics Alumni Council is to support the Faculty’s mission by fostering a lifelong connection with its global alumni community. Over the past 12 months, the Alumni Council work streams have supported the following initiatives: •

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Domestic Events: Regular alumni networking drinks in Sydney, various Young Alumni events, the inaugural Young Alumni Commerce Ball Reunion and the inaugural Business and Economics Women’s Lunch;

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International Events: Annual Dean’s Dinners in Shanghai, Beijing, Singapore and Indonesia, the 25th anniversary Gala Dinner for the University of Melbourne Alumni Association in Malaysia, alumni receptions in London and Bangkok and worldwide launch events for Believe – the Campaign for the University of Melbourne; Alumni Giving and Volunteering: Launch of the Alumni Giving Program for graduating students, the Melbourne Foundation for Business and Economics Annual Dinner and Believe – the Campaign for the University of Melbourne;

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Careers Support and Professional Development: Faculty’s alumni-tostudent mentoring program and launch of the Business Leadership Roundtable;

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Alumni Connections and Communications: Cohort reunions for alumni who started their degree in the 1970s, 1980s and 1990s and the University’s 50+ Golden Alumni Celebration;

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Alumni Recognition: Awarding the 2014 Faculty of Business and Economics Alumni of Distinction Awards.

The Council would like to congratulate the Young Alumni Committee on the very successful inaugural Young Alumni Commerce Ball Reunion held in October 2013. The Committee, then chaired by Stephanie Lin, delivered an outstanding event with over 250 alumni who commenced their degree from 2000

to 2011. This year’s reunion is expected to double in size and will be held at the Crown Palladium in October. We look forward to seeing many of you there.

As the Young Alumni Committee expands its size to support our very active young alumni cohort, I’d like to welcome new Chair Melanie Alforque (BA 2011, MMgt 2013) and acknowledge all committee members for the dedication and hard work that they have invested in the program thus far.

As you read through the stories in this edition of Alumni Matters, I hope you are reminded of the global alumni community that you are a part of. Your alumni status entitles you to many exclusive benefits, such as, lifelong career development support, access to networking and social events around the world, mentoring and speaking opportunities and more. To keep you up-to-date with these benefits and opportunities to participate in the community, I encourage you to check and update your contact details via the alumni portal, In Touch, at alumni.unimelb. edu.au, or join our Facebook (facebook. com/BusEcoMelb) and Business and Economics alumni LinkedIn group.

We value the thoughts and feedback of all of our alumni, so please get in touch via the Advancement team (details inside front cover) if there is anything that you wish to contribute.

Larisa Moran (BCom 1994) Chair, Business and Economics Alumni Council

faculty research

helping our cities to breathe

An unlikely pairing of accountants and botanists from the University of Melbourne, the Royal Botanic Gardens in Melbourne and the Institute of Chartered Accountants is expanding our knowledge of how plants and trees can be fully harnessed in the battle against global warming.

Cities are the leading producers of the greenhouse gas carbon dioxide (CO2) and the main drive to reduce these emissions has focused on energy efficiency.

From an early age we are all taught that our plants and trees take in bad CO2 gas and give us back our life-giving oxygen.

Yet despite this generational knowledge we do not know how much CO2 specific plants take in. We have limited knowledge about which is best to plant, a sequoia or a blue gum, to capture the smog and pollution from our cities. We simply know that green belts are the lungs of our cities taking in pollution but we cannot accurately state or account for how much that is processed.

In the fight to reduce CO2 emissions most attention has been placed on energy efficiency measures, such as, using bicycles to reduce the number of cars on the roads or improved insulation of homes and offices to reduce energy consumption.

Yet little attention has been focused on the lungs of our cities, namely green spaces, lakes and waterways, which both capture carbon naturally and act as a natural buffer, reducing the need for heating and cooling of a city.

Recognising this knowledge gap, a team of accountants from the University’s Faculty of Business and Economics and botanists from the University’s School of Botany formed a research team with the Royal Botanic Gardens.

Professor David Cantrill, the Chief Botanist and Director of the Plant Science and Biodiversity Division within the Royal Botanic Gardens Melbourne. “The potential to roll out this carbon model not just nationally but internationally is huge.”

“It is an unlikely team of number crunchers and plant lovers, but by pooling our respective knowledge the benefits we can bring to the field of carbon accounting can be significant,” says Associate Professor in accounting at the University of Melbourne, Brad Potter.

Globally there has never been a project like this, involving a complex urban ecosystem.

With funding from the Australian Research Council over three years the research team will use the manicured beauty of the Royal Botanic Gardens, in Melbourne

According to Professor Ian Woodrow, Head of the School of Botany at the University of Melbourne the creation of this model will “enhance measurement of carbon and improve the approaches for the reporting of this information.”

Across the world shareholders, employees, communities and other

It is an unlikely team of number crunchers and plant lovers, but by pooling our respective knowledge the benefits we can bring to the field of carbon accounting can be significant.” and Sydney, to create a model of the carbon cycle of a managed ecosystem.

The team will test and experiment to ascertain how much CO2 a green belt in an urban environment traps, expanding our knowledge of its benefit to the environment.

From local councils to global corporations, this research offers significant benefits.

“A council might be interested in how much carbon their football oval holds or emits, and this project creates a way to find out where carbon is flowing through the land we are responsible for,” says

stakeholders clamour for organisations to reduce the impact they place on the environment.

However, in accountancy, the field that underpins all economies, no universally accepted standard exists for reporting of CO2 emissions by entities.

“This project allows Australia to take a lead role in the international debate and will explore how the way CO2 emissions are reported impacts on decision making by stakeholders,” says one of the partners in the project Karen McWilliams of the Institute of Chartered Accountants Australia.

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Royal Botanic Gardens, Melbourne

Melbourne Foundation

Melbourne’s most influential business leaders raise $500,000

Chief Executive of Rio Tinto, Sam Walsh, AO (BCom 1972) delivering keynote address

More than 600 alumni, business leaders and sponsors attended the annual Foundation for Business and Economics Dinner at the National Gallery of Victoria in March 2014.

Fast becoming the pre-eminent networking event for Melbourne’s most influential business leaders, the Melbourne Foundation for Business and Economics Annual Dinner honoured some of the greatest business talent to emerge from the University.

Guests on the evening were welcomed by the Chairman of the Foundation Board, Mr Tony Burgess (BCom 1980), who provided an update on the progress of the foundation and its philanthropic priorities for the year ahead.

The Faculty’s fundraising priorities are focused on access scholarships and student experience initiatives, which align with the mission of the Faculty and the key pillars of Believe – the Campaign for the University of Melbourne.

The 2014 keynote address was delivered

by Chief Executive of Rio Tinto Sam Walsh AO, who graduated from the University of Melbourne with a Bachelor of Commerce in 1972.

Responsible for 66,000 global employees, Sam’s reflections on his remarkable career were humble and insightful.

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“I certainly feel that at the ripe age of 64, I still have a lot to achieve, a lot of life to live and a difference to make,” Sam shared with the audience.

“I still wake up every morning with a spring in my step, a mischievous glint in the eye, which I’m sure isn’t a cataract, and a great passion for what I do.

“And while I apologise for the cliché, I can only confirm it is vital to truly love what you do and take time to celebrate along the journey.

“Celebration is something we often forget to do in western management. Business is about momentum. You’re forever pressing forwards, towards the next quarter, the next challenge, the next opportunity.

“And you can get swept along by the momentum and let the months and years and, in my case decades, roll by like the view from a speeding car. But it’s important to recognise successes along the way. This is one reason why perspective is so important.”

Alumni (refer to page 6 for details).

Guests also heard from second year Bachelor of Commerce student Emad Zarghami. A ‘First in the Family’ Scholarship recipient, Emad shared his remarkable story of escape from Iran with his family, being captured and held in detention, to eventually settling in Australia and commencing at the University of Melbourne.

Emad’s remarkable story and the influence the ‘First in the Family’ scholarship is

I’ve always found that personal growth comes from adapting to changing environments, innovating, and constantly looking at new ways of solving challenges.”

His advice to seize opportunities resonated well with many in the audience.

“I’ve always found that personal growth comes from adapting to changing environments, innovating, and constantly looking at new ways of solving challenges.

So, keep saying ‘yes’,” he urged the audience.

having on his education was received warmly by the audience and demonstrated the impact that philanthropic dollars can have on someone’s life.

“The scholarship not only relieves the financial stresses but also provides a little peace of mind that somebody out there believes in you,” Emad said.

Mr Walsh was also awarded with the Alumni of Distinction – Lifetime Achievement Award, or as he referred to the honour on the night, the “so far so good” award.

“It gives you the motivation to hold yourself accountable and to not only make your family proud but to not let those down who gave you this opportunity, and to strive to be better.”

Other Alumni of Distinction Award winners were, Ms Jacqueline Hey (BCom 1986) – Leadership Award, Professor Ross Williams AM (BCom (Hons) 1964) Contribution to Faculty and University Award and Mr Simon Griffiths (BCom 2007) Rising Star Award for Young

The dinner raised almost $500,000 for the ‘First in the Family’ scholarship program, access scholarships and student experience initiatives, a remarkable result that ensures the success and growth of the Foundation for Business and Economics.

L-R: Nataniel Lashansky, Robert Manolache, Emad Zarghami, Rannia Al-Salihi, Andrew Kemp, Anisha Kidd, Alena Broesder, Harrison Fenton, Ben Clark, Kyle Sutcliffe, Lorraine Priestly, Caitlin Wan, Jasmine Davie, Simon Matthews and Monique Edwards Ken Baxter, Sam Walsh AO and Don Argus AC

L-R: Eden Boulanger, Robert Manolache, Simon Whatmore, Melissa Loughnan and Simon Griffiths

Cathy Quinn and Ian Campbell

Carena Shankar and Jeff Chapman

Mark Pomeroy and Dug Pomeroy

Emad Zarghami

L-R: Peter Yates AM, Sue Cunningham, Shayne Elliott and Paula Dwyer

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alumni awards

Meet our FBE stars of 2014 Each year, the Faculty of Business and Economics hosts the Alumni of Distinction Awards, which celebrate and honours graduates who have made an outstanding contribution to their professions and their communities. The 2014 Melbourne Foundation for Business and Economics annual dinner hosted this year’s event and those honoured represented an array of business interests – from socially aware startups, to technology, to mining and academic distinction. the support of social investors and product partners, including Schweppes and hospitality equipment funder SilverChef, while promising no returns for investors.

With the publicity generated by media coverage and two years of hard work, the Shebeen project secured $250,000 in funding and opened its doors in early 2013.

Simon Griffiths

Mr Simon Griffiths BCom 2007 – Rising Star Award for Young Alumni The Rising Star Award winner Simon Griffiths is the founder of three social enterprises, Shebeen, Who Gives a Crap and Ripple, which aim to alleviate global poverty through consumer-driven philanthropy.

After graduating with a Bachelor of Commerce and a Bachelor of Engineering (Honours) in 2007, Simon turned down his dream job at a management consultancy and set up his first social business, Ripple. org, a click-to-give and search-to-give website that donates 100 per cent of its revenue to development and aid organisations. Ripple was named number 23 in BRW’s top 100 web 2.0 sites of 2008 and has received over six million visitors to date.

Since then Simon has spent time working in development aid in South Africa and visited various NGOs in eight sub-Saharan nations. He recognised a universal problem with each organisation – insufficient funding – and was determined to revolutionise the way society approaches philanthropy.

When he returned to Melbourne, Simon started a bar called Shebeen and an online toilet paper business Who Gives a Crap.

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Inspired by the makeshift bars in South Africa, Shebeen is a restaurant and bar that sells boutique beer and wine from the developing world with 100 per cent of the profit from each sale supporting projects in the country of origin of the purchased beverage.

Instead of conventional capital-raising, Simon and his business partners sought

Who Gives a Crap was created in response to the shocking truth that 2.5 billion people across the world do not have access to a toilet and that diarrhoea-related diseases fill over half of sub-Saharan African hospital beds, killing 2,000 children under five each day.

Simon and his business partners launched Who Gives a Crap, which sells environmentally sustainable toilet paper and returns 50 per cent of its profits to build toilets and improve sanitation in the developing world.

To get the business off the ground Simon used crowdfunding via the internet to generate capital. His push for donations involved live video streaming of himself sitting on a toilet with his laptop until the company raised $50,000. Who Gives a Crap was launched 51 hours later, and the company delivered its first product in March 2013.

In 2010 Simon became Australia’s first Fellow of the Unreasonable Institute in Boulder Colorado, which provides “unreasonable advantage” to entrepreneurs tackling the world’s greatest challenges. In 2011 he was recognised

by The Age’s Melbourne Magazine as one of Melbourne’s Top 100 Most Influential People, and in 2013 he was shortlisted for Young Australian of the Year.

Ms Jacqueline Hey BCom 1986 – Leadership Award With a distinguished career in telecommunications, most recently as Managing Director of Ericsson in Australia, New Zealand and the Pacific Islands Jacqueline is a worthy winner of this year’s Leadership Award.

Currently serving on the Boards of Bendigo and Adelaide Bank, Special Broadcasting Service Corporation, Qantas, Australian Foundation Investment Company, Cricket Australia and the Melbourne Business School, Jacqueline has demonstrated remarkable leadership outside of the boardroom as well.

Jacqueline Hey

She has held key management roles in the telecommunications, technology and IT industries in Australia and internationally.

From 2004 to 2008, Jacqueline was Managing Director of Ericsson UK and Ireland, which included Saudi Arabia from 2005 to 2006. Subsequently, Jacqueline served as Managing Director of Ericsson Australia and New Zealand until 2010.

During her time at the company she helped to cement Ericsson as one of the world’s most important communications companies, shaping the future of mobile and broadband Internet communications through continuous innovation and technology leadership.

Since leaving Ericsson, Jacqueline has continued to make sustained contributions in various industries, utilising her unique breadth of experience in managing strategic, corporate governance and policy issues.

Based on her international experience and expertise in telecommunications services, digital rights management and online service, Jacqueline was appointed to the Board of SBS in 2011. In the same year, Jacqueline joined the Board of Directors of Bendigo and Adelaide Bank and the bank’s Audit, Risk and Change Technology Governance Committees.

In October 2012, Jacqueline became the first woman to join the Board of Cricket Australia, a revolutionary change in the boardroom structure of that organisation.

With her role, Jacqueline hopes to encourage other women to become influential in cricket. Recently, Jacqueline expanded her executive portfolio by joining the boards of Qantas, AFIC and Melbourne Business School. Jacqueline is also Honorary Consul for Sweden in Victoria.

Chancellor Elizabeth Alexander AM and Sam Walsh AO

Mr Sam Walsh AO BCom 1972 – Lifetime Achievement Award Chief Executive of Rio Tinto Group Sam Walsh is recognised as one of Australia’s most successful international business leaders. His ongoing contributions and leadership in business globally and his service to the mining industry in particular is extraordinary.

Sam joined Rio Tinto in 1991 and has held numerous senior positions within the Group. He was Chief Executive of the aluminium business and from 2004 Chief Executive of Rio Tinto’s largest division the iron ore business, where he was responsible for rapid growth through mine expansions and major infrastructure developments.

As Chief Executive of the Rio Tinto Group, Sam has driven a substantive transformation agenda, reshaping the Group’s portfolio focus on core businesses and enhancing its capital allocation processes.

In addition, Sam has overseen the delivery of major projects, including the expansion of iron ore capacity in the Pilbara, as well as the first shipments from the Oyu Tolgoi copper-gold mine in Mongolia.

Prior to joining Rio Tinto, Sam spent 20 years in the automotive industry and held senior roles at General Motors and Nissan Australia.

Sam is a Fellow of the Australian Institute of Management, the Australasian Institute of Mining and Metallurgy, the Australian Academy of Technical Sciences and Engineering, and the Chartered Institute of Purchasing and Supply.

Professor Ross Williams AM BCom (Hons) 1964 – Contribution to Faculty and University Award Professor Ross Williams is Honorary Professorial Fellow at the Melbourne Institute of Applied Economic and Social Research. Ross is highly regarded for his research and development in econometrics and applied economics, particularly in areas of education, public policy and federal–state fiscal relations.

After graduating from the University of Melbourne, Ross worked as a senior tutor in economics before studying at the London School of Economics, where he was awarded a PhD in 1969. Upon returning to Australia, Ross held various positions at Monash University, Australian National University and the World Bank.

In 1975, Ross became Professor of Econometrics at the University of Melbourne, a position that he held for 27 years. From 1994 to 2002, Ross was Dean of the Faculty of Economics and Commerce (now Faculty of Business and Economics). Ross’ deanship saw the massive expansion of the Faculty, through the increase in international student intake, the establishment of the Department of Management and the Department of Finance and the introduction of a suite of postgraduate coursework programs.

He also successfully secured funding for the refurbishment of the Babel building.

During this period, Ross steered the Faculty through major pedagogical changes, including the incorporation of information technology in teaching and learning. His leadership ensured a significant improvement in the quality of teaching and research performance, fortifying the Faculty’s reputation as a world-class business education provider.

After retiring as Dean of the Faculty, Ross became a member of the Commonwealth Grants Commission. In 2003, Ross joined the Melbourne Institute as Professorial Fellow. His research at the Institute continues to provoke public debate and inform policy formation nationally

Koby Tinworth and Professor Ross Williams AM

and internationally. His extensive work on global University rankings design, particularly as lead researcher of the Universitas 21 Ranking of National Higher Education Systems, is extremely influential in shaping the higher education landscape worldwide.

Ross is currently also Managing Editor of the Australian Economic Review.

Throughout his academic career, Ross has made exceptional contributions to the literature on research topics as diverse as demand and saving, time-use studies, the cost of civil litigation, housing, federal–state finance, and the economics of education.

Amongst his many publications, Ross wrote The Policy Providers: A History of the Melbourne Institute of Applied Economic and Social Research (2012) and edited Balanced Growth: A History the Economics Department, University of Melbourne (2009). These two texts contribute immensely to the collective memory of the Faculty and provide invaluable insights to the evolution of the Faculty and the University, within the context of higher education policy in Australia and the state of the economy from past to present.

He is a Fellow of the Academy of Social Sciences in Australia and Fellow of Queen’s College. In 2010 he was appointed a Member of the Order of Australia for his 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.

To learn more about the Business and Economic Alumni of Distinction Awards program, or to nominate and outstanding alumnus for the 2015 awards please go to: http://fbe.unimelb. edu.au/alumni/alumni_awards

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As a strong supporter of the arts, Sam has held a number of senior positions in community and business organisations and has participated in various government-led initiatives. Sam was conferred with honorary life membership of the Western Australian Chamber of Arts and Culture and was appointed as roving Ambassador for the Chamber in 2013.

Sam also became the inaugural recipient of the Chartered Institute of Purchasing and Supply’s CEO Procurement Champion Award in 2013. In 2012, he was awarded a Gold Medal by the Australian Institute of Company Directors. In 2011, he was recognised with the Richard Pratt Business Arts Leadership Award in Australia. In 2010, in recognition of his distinguished contribution to business and the community, Sam was appointed as an Officer in the General Division of the Order of Australia and awarded an Honorary Doctor of Commerce by Edith Cowan University. In 2007, Sam was named Western Australian Citizen of the Year – Industry & Commerce, and an Australian Export Hero.

alumni perspective

Accountancy in China

a young profession in an ancient civilisation Dr Jessie Wong CPA (BCom (Hons) 2000), Len Jui of KPMG China and Amir Ghandar of CPA Australia report on the state of accountancy in the world’s most populous nation.

The accountancy profession in China has a short history of about 30 years and auditing is even younger. The role the profession plays in China’s capital markets is evolving and is yet to achieve the status enjoyed in mature markets such as Australia and the US. Of course, differences abound and operating successfully in China requires a strong awareness of its numerous defining factors. Not least is its place in the populous Asian region, which accounts for almost two-thirds of the world’s people over a vast geographical expanse that occupies the same area as Europe.

On top of this, China’s 5000-year history has given rise to an immense diversity of local cultures and business practices.

Grasping these outstanding features is not only important for businesses, but also critical for understanding and interacting with the Chinese accounting profession.

To put this in perspective, let’s crunch the numbers. There are about 98,000 public accountants (PAs) and 8000 accounting firms in China. At the end of last year the profession served a nation of more than 1.3 billion people, accounting for trade volume of more than US$3.8 trillion. This equates to about one public accountant for every 14,000 people and one accounting firm for every 170,000 (see table 1).

There are about 50 accounting firms licensed to audit listed companies in mainland China. The number of accounting firms in China licensed to provide cross-border audit services is far lower.

In comparison with the numbers in advanced Western economies, the differences are staggering. The US has more than 600,000 PAs and 40,000-plus accounting firms serving a nation of more than 300 million people, accounting for trade volume comparable to China in 2012. This equates to one accounting firm for every 7500 people.

Australia had more than 200,000 professionally qualified accountants and 9500 accounting firms at the end of last year, serving a nation of 22 million people and accounting for trade volume of US$609 billion. This comes to one accountant for every 110 people and one accounting firm for every 2300 people.

Making sense of these stark differences requires an appreciation of the Chinese accounting profession’s early stage of development. The profession in China started to emerge in the late 1980s when the Chinese Institute of Certified Public Accountants (CICPA), a government body, was set up to represent the profession.

This developmental stage brings about challenges similarly faced by the

Table 1: People per Public Accountant

Country

# People / # People / CPA Accounting Firm

China 14,000 170,000 US 500 7,500 Australia 110

2,300

accounting profession in the US and Australia previously.

However, to comprehend the extent of the challenges faced by the profession in China, factors that are unique to the country must be added to the mix.

High on the list is the significant shortage of qualified accountants and auditors in China, where the profession faces competition for talent from other industries and big state-owned enterprises in a rapidly growing Chinese economy.

The corporate governance conundrum High-quality financial reporting and auditing go hand-in-hand with good corporate governance. This is firmly imprinted in the minds of accountants and auditors worldwide.

In response to regulatory requirements, Chinese companies have introduced corporate governance frameworks that appear in line with international best practice. However, many companies lack the resources for effective implementation and monitoring.

Worse, some companies lack the know-how to implement an effective corporate governance framework.

Some continuing areas for improvement include distinguishing the roles of directors and management, establishing effective audit committees and transparency around related-party transactions.

Chinese regulators are cognisant of the importance of Chinese companies implementing high-quality corporate governance, which means ensuring accountability of boards to shareholders and alignment between the interests of management and investors.

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Pushing the corporate governance agenda is the China Association of Public Companies (CAPCO), a national self-regulating organisation backed by the Chinese securities regulator.

The Charging Bull on The Bund in Shanghai facing Pudong District, Shanghai’s growing economic development zone

Notwithstanding efforts by the regulatory community to strengthen corporate governance, demand from capital markets and investors is critically needed to motivate Chinese companies to adopt a far stronger focus. Perhaps the trickier part of the issue is that recognition of the value of strong corporate governance among management, those charged with governance and investors are still very much lacking.

The audit black box The accounting profession in China still has much to do, particularly in educating the investing public on the role of auditors and the value of audits.

In China, accountants may sometimes be inaccurately perceived as mainly performing the role of bookkeepers, because preparers of financial statements perceive this is of most value, resulting largely from the low competency of some companies’ accounting departments.

importance of good corporate governance among Chinese listed companies.

These efforts have resulted in changes in attitudes and the need for these efforts to be continued is clear.

The future of auditing in China is highly dependent on the success of the profession in changing perceptions from audit as a “black box” to being viewed as a valued and essential tool in the corporate governance toolbox.

The challenge ahead Amid the country’s rapid economic development, the accounting profession in China has evolved with its rapid rise to become the world’s second-largest capital market and fastest-growing emerging economy. China has captured the world’s attention and become a prevalent discussion topic across global business.

An understanding of “the value of audit” as an important part of corporate governance is also wanting. More pressing, however, is the need for China to develop strong accounting in companies ahead of driving audit reforms.

There is often a degree of misunderstanding and speculation in such discussions, which is understandable given that the predictions for growth are so impressive. Consider this: by 2025, China will build 10 New York-sized cities and by 2030, China will add more new city dwellers than the entire US population.

Consequently, financial statement audits are treated as compliance exercises.

Without understanding the objective of the audit, many select auditors on the basis of their fees ahead of audit quality, professional competency, and the audit firms’ integrity and reputation. This can

Undue speculation about these issues may be grave. Commentators often fail to remember that China is home to one of the world’s most ancient civilisations, with more than 50 recognised ethnic groups that speak more than 200 languages and dialects. The country’s diversity underpins

Recognition of the value of strong corporate governance among management and those charged with governance and investors is still very much lacking.” discourage efforts to emphasise audit quality in the Chinese auditing profession, effectively penalising good behaviour.

Audit firms that invest in resources to ensure effective quality control systems, competent staff on audit engagement teams and internal infrastructure – all measures that minimise risk for the firm and its clients – will necessarily be compelled to quote higher audit fees to recoup this upfront investment. Firms that have not chosen to focus on quality can afford to provide much lower audit fee quotes as a result.

Against this backdrop, the young Chinese accountancy profession faces challenges on multiple fronts. However, it has the opportunity to rise to the important role of ensuring stability of China’s capital market.

China’s accountancy profession is inextricably linked to the international accounting community. The impact of this interconnection on the profession’s progress flows both ways.

It is vital for the international community’s engagement with China to progress beyond one of form and formality to one of genuine appreciation of the country’s underlying facts and circumstances. China equally needs to reciprocate. It is worth remembering this is achievable, as accountancy professions in other jurisdictions have had to walk a similar path.

About the authors Jessie Wong CPA PhD, a member of CPA Australia, is KPMG China’s Director – Public Policy and Regulatory Affairs, Quality and Risk Management. She is a BCom honours alumna.

Len Jui CPA MBA, a member of the American Institute of Certified Public Accountants (AICPA), is KPMG China’s Partner – Head of Public Policy and Regulatory Affairs, Quality and Risk Management. He was formerly Associate Chief Accountant of the US Securities and Exchange Commission. He graduated from the University of Miami, Florida, USA with MBA (Accounting). Jui is a member of the China Auditing Standards Board and Technical Adviser to China’s Member of the Board of the International Federation of Accountants.

Amir Ghandar CPA is a member of and policy adviser at CPA Australia, where he oversees audit and assurance including professional development and training, policy, resource development, research and key initiatives on integrated reporting and sustainability.

This article is from the May 2013 issue of INTHEBLACK magazine

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Nonetheless, the extensive work done

by Chinese regulators and standardsetters to enhance audit quality should also be acknowledged. For example, they have improved the effectiveness of the framework for inspecting accounting firms, reviewed auditor independence to ensure requirements are up-to-date with current practice and promoted the

how government and organisations operate and how people live and work.

Jessie Wong (left) and Len Jui

newsflash

Business and Economics Newsflash World-leading academics join FBE World-leading academics in the fields of poverty, experimental finance and consumer empowerment will join the University’s Faculty of Business and Economics, bolstering research and teaching capacity.

Professor Peter Bossaerts, who is one of the world’s leaders in experimental decision making research in finance and economics, has been appointed Professor of Experimental Finance and Decision Neuroscience.

One of the founders of the discipline of neuro economics, Professor Bossaerts’ work is widely regarded as having transformed society’s understanding of how humans perceive and take risks. He joins the University from the

Professor Peter Bossaerts

California Institute of Technology.

Professor David Ribar is a world authority in the economics of poverty, social assistance, household economics and food security and will become a Professorial Fellow in Poverty Economics at the Faculty’s Melbourne Institute.

Professor Ribar’s research focuses on the causes of housing insecurity.

Professor Julie Ozanne has been appointed Professor of Marketing, with

Professor Dave Ribar

Professor Julie Ozanne

her work to address the wellbeing of poorly literate and low-income consumers.

Professor Ozanne is currently the Sonny Merryman Professor of Business at Virginia Tech in the United States.

The Faculty Dean, Professor Paul Kofman, heralds the appointments.

“We’re truly honoured and excited these pioneering academics, who are at the cutting edge of their respective disciplines, will be joining us,” he says.

FACULTY SCHOLARSHIP OPPORTUNITY FOR GRADUATES Wilfred Prest Travelling Fellowship 2014-2015

Congratulating the Malaysian Alumni Association The University of Melbourne Alumni Association Malaysia celebrated its silver anniversary at a gala dinner at the Ritz Carlton in Kuala Lumpur in June. A total of 180 guests attended the glittering celebration, including Founding President, Professor Emeritus HF Chin (BAgrSc 1961, MAgrSc 1971, PhD 1974, PhD 1994) and current President, Ms Gloria Goh (BCom (Hons) 1982).

Other special guests at the dinner included association patron and patron of Believe – the Campaign for the University of Melbourne, YB Dato’ Sri Mustapa Mohamed (BA (Hons) 1974, DCom 1997), Australian High Commissioner, HE Rod Smith PSM, Victorian State Government Commissioner to South East Asia, Mr Tim Dillon, Pro-Vice Chancellor Professor Simon Evans, Dean, Faculty of Architecture, Building and Planning and Assistant Vice Chancellor (Campus Development) Professor Tom Kvan and Dean, Faculty of Business and Economics, Professor Paul Kofman.

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A donation of $30,000 was made on the night to Believe – the Campaign for the University of Melbourne by Dato’ Jimmy Lim (BCom 1973). The money will go to the Melbourne Accelerator Program (read more on Page 14).

The association, which started as a group of friends in the 1980s before being officially registered in 1989, provides many an opportunity for alumni to connect; be it as returning locals, expatriates or new settlers to Malaysia. For more information on activities and how to get involved visit http://umaamy.blogspot. com.au/

Available through the generosity of Mrs Marjorie Prest, the Wilfred Prest Travelling Fellowship is available to graduates of the University of Melbourne who will be undertaking postgraduate studies at an overseas university or research institution in 2014-2015. Candidates must be under the age of 27 at the time of the award and pursuing studies in the field of economics.

In recent years the Fellowship has supported researchers at leading international institutions such as the University of Oxford, New York University and the Pennsylvania State University. In 2014 the scholarship is valued at $10,491, paid in two instalments upon confirmation of enrolment at the nominated overseas institution. An extension of the Fellowship may also be granted for a further term of one year upon recommendation of the selection committee.

For further information about selection criteria and the application process please visit our website at fbe.unimelb.edu.au/scholarships or email Leonie Slavin at commercescholarships@unimelb.edu.au

HILDA reveals

the changing face of Australia

Australia’s largest household survey has revealed that retirees are dependent on government benefits, men are doing dramatically less housework than women and that ‘female breadwinners’ are on the rise.

Female earnings – Australia has experienced a slight rise in the proportion of married couples where women out-earn men.

The Household, Income and Labour Dynamics in Australia (HILDA) Survey – produced by the Melbourne Institute at the University of Melbourne – is Australia’s only large-scale, nationally representative longitudinal household survey.

Since 2001, the same group of roughly 17,000 Australians has been interviewed annually to create a ‘moving picture’ of how their lives are changing.

Read more at: newsroom. melbourne.edu/small-rise‘female-breadwinner’

The latest HILDA Survey reports on the following insights.

Weight gain – Married Australian men tend to be more overweight than single blokes, although age remains the largest factor determining weight gain.

Read more at: newsroom.melbourne. edu/married-men-let-themselves-go

Household labour – Australian women are still doing dramatically more housework than their boyfriends and husbands. Both mums and dads, however, continue to be the nation’s unheralded “economic powerhouses”.

Read more at: newsroom.melbourne. edu/women-still-keephome-fires-burning

24.5%

of women earn significantly more than their male counterparts

Government handouts – Australians are working longer and becoming less dependent on government handouts when they retire, but these benefits remain the major source of income for retirees.

Read more at: newsroom.melbourne.edu/handoutsstill-funding-twilight-years

According to the report’s editor and co-author, Associate Professor Roger Wilkins, from the University’s Melbourne Institute, the HILDA Survey helps explain how the lives of Australians are changing.

The HILDA Survey was initiated and is funded, by the Australian Government through the Department of Social Services and can be viewed at: melbourneinstitute.com/hilda/

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Researchers will use this data to produce more comprehensive reports on specific areas of social and economic policy, informing the decisions of policymakers,” he says.

newsflash

Centre for Workplace Leadership

collaboration is key

Professor of Management Peter Gahan is at the helm of the new Centre for Workplace Leadership, launched in February 2014 to improve leadership in Australian workplaces and lift Australia’s productivity.

Positioned within the Faculty of Business and Economics, and with Commonwealth Government support and industry backing, the Centre aims to bridge the gap between academic rigour and real world challenges facing Australian businesses and ensure it is relevant and accessible to all Australian workplaces.

Collaboration is crucial to the Centre’s ability to make an impact on Australian organisations. Having already established partnerships with a range of industry bodies and organisations and being housed in ‘The Spot’ building, the Centre and its ever-growing team of researchers and operational staff is able to draw on the expertise and support of Faculty staff and facilities, along with external groups at the coalface of business and leadership practice.

As Director of the Centre, Professor Gahan highlights the need for improved, innovative and collaborative leadership across all Australian workplaces.

Professor Peter Gahan

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“Studies confirm that a key driver of productive and innovative workplaces is the quality of management and leadership,” he says.

“We are creating the tools to access and harness the potential of leaders in Australia’s workplaces and we want to encourage business of all types and sizes to get in touch with us to see how we can help drive innovation and foster efficiency and collaboration in their workplace.”

One focus for the Centre for Workplace Leadership in its first year is to undertake a stocktake of Australian management skills and competencies in order to establish the gaps that exist, and identify areas for immediate attention.

The Centre is also working on four projects that cover priority themes of frontline leadership, high performance work practices, leading through technology and innovation, and future workplace leaders. The Future Leaders project utilises Faculty of Business and

Economics undergraduate students to gain insights into the leadership capabilities of young people in Australia.

These projects, run through collaborations with industry and business groups, are crucial to establishing industry benchmarks and enabling hands-on investigation to be developed into tools and programs that can help build leadership ability and organisational competitiveness across the Australian workforce.

“Workplaces are changing very quickly and the way we do business, and the leadership of those businesses has to change,” says Professor Gahan.

“Flexibility and adaptability is going to be a big factor in the workplace. By encouraging better and more effective leadership practices, Australian organisations can have world-class leadership where we work collaboratively at all levels to create productive, innovative and competitive workplaces.”

A key driver of productive and innovative workplaces is the quality of management and leadership.”

The Hon John Brumby speaking at the Future of Work conference

The Future of Work: People, Place, Technology The Centre for Workplace Leadership’s inaugural Future of Work: People, Place, Technology conference was held on 9-10 April 2014 at the Melbourne Convention and Exhibition Centre.

Event convenor Jason Clarke summed up the findings of the conference with the inspirational notion that: “Conferences don’t change the world, but they bring people together who might.”

With the aim of starting the discussion on how Australians can begin to do things differently at work, the conference brought together over 30 international and national speakers to discuss new developments in technology, workplace design, and leadership techniques that can influence change in how we work now, and the ways we will work in the future.

Highlights included Apple chief evangelist Guy Kawasaki, London Business School’s Lynda Gratton and Chief Futurist of Cisco Dave Evans live via Telepresence, along with Social Leadership Australia’s Geoff Aigner speaking on the power of collaboration. Faculty Alumnus and CEO of Premier Fruits Anthony Di Pietro (BCom 1990) also led a discussion on family businesses.

With more than 300 delegates in attendance the event has already established itself as an important annual event for current and future business leaders.

Speaker Jason Clarke

Speaker Sarah Kay

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newsflash

Melbourne’s MAP to success for entrepreneurs The University of Melbourne is officially a hotspot for startups according to a recent study of global incubator programs.

The Global Top 25 University Business Incubator list compiled by Swedish research firm UBI Index ranked the Melbourne Accelerator Program (MAP) 13th globally, from among 300 incubators in 67 countries.

Launched by the Melbourne School of Engineering (MSE) in 2012 MAP supports entrepreneurial students, staff and alumni from MSE, the Faculty of Business and Economics, Melbourne Business School, Faculty of Arts, Faculty of Architecture, Building and Planning, and the Faculty of Medicine, Dentistry and Health Sciences.

According to Director of Research at UBI Index, Dhruv Bhatli, MAP performs really well on its global benchmark especially on access to network and competence development indicators.

“MAP’s clients have a higher survival and growth rate and perform much better than the global average,” Mr Bhatli said.

MAP’s Startup Accelerator helps students develop their business ventures by providing free office space, $20,000 in

SwatchMate team: Rocky Liang, Paul Peng and Djordje Dikic

“In the first year we had 32 applicants and this year we had 56 competing for funding,” he says.

“More and more students recognise that startups are a legitimate career path and they are willing to invest a lot of time developing ideas into startups.”

This year 56 teams competed for one of the six $20,000 MAP Entrepreneurial Fellowships awarded to the fledgling startups in areas ranging from medical technology to financial decision-making.

Since it started in 2012, 10 startups have been incubated and between them have raised more than $5 million in funding so far, generated over $850,000 in revenue and created 54 jobs.

Among the increasing number of success stories coming out of MAP is the SwatchMate team, comprised of young Commerce and Engineering alumni Paul Peng (BE, BCom 2012), Djordje Dikic (BE, BA, 2011) and Rocky Liang (BE 2011). The SwatchMate team created the ‘Cube’, a small, portable device that

Since it started in 2012, 10 startups have been incubated and between them have raised more than $4 million in funding so far, generated over $850,000 in revenue and created 54 jobs.” startup funding and access to a network of entrepreneurs, venture capitalists and angel investors to help develop their business idea. The grants are hotly contested and the number of applicants is increasing year-on-year.

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An exciting and new feature of this year’s Startup Accelerator program is that we’ll be taking all the MAP14 startups to both Silicon Valley and Sydney for ‘Demo Days’, where they’ll pitch to investors and supporters in our extended network.

MAP manager Rohan Workman credits the talent within the University as a key aspect of its success.

accurately captures and matches the colour of any surface.

The genesis for the Cube came about after Paul had to rip out a piece of the wall he was repainting so he could match the exact colour. There were expensive machines that could record the exact colour of a surface, but Paul realised a stylish, low-cost device could have a market among do-it-yourselfers and home renovators.

The SwatchMate team used their MAP Fellowship and funding to commercialise the Cube and develop contacts with mentors and venture capital funders.

The Cube took out the Melbourne and Sydney Design Awards in 2013, and

was shortlisted for the New York and Brisbane Design Awards in 2014.

SwatchMate successfully raised over $150,000 through a crowdfunding platform and is currently manufacturing its first batch of Cubes.

MAP Master Classes MAP also runs a series of forums and feeder programs to support entrepreneurial activities around the University and encourage budding entrepreneurs to take the first step in starting a business.

Recent speakers at the forum events include founding investor in 99designs, Leni Mayo, founder of Intrepid Travel and CEO of PEAK Adventure Travel, FBE alumnus Darrell Wade (BCom 1981), Google Australia’s Sally-Ann Williams, and Chair of the Virgin Australia Melbourne Fashion Festival, Laura Anderson.

MAP offers a series of Master Classes to provide practical knowledge in the day-to-day operations of a startup.

These workshops up-skill founders in a variety of areas, including but not limited to: pitching, capital raising, customer acquisition, data analysis, Google analytics, design and marketing.

The MAP Public Forums and Master Classes are filmed and placed on the MAP YouTube channel.

This year MAP is also producing a documentary that will follow the journey of the startups that apply to the MAP Startup Accelerator, both those that succeed and those that miss out. The show will be also shown on the MAP YouTube channel.

Future directions include expanding the Faculties involved in MAP so that the entire University of Melbourne community can access the Startup Accelerator. It is also a key goal to increase the number of startups that participate in the MAP Startup Accelerator, and to increase the number of Master Classes, Public Forums, and feeder programs.

MAP success stories Cortera Neurotechnologies (MAP13): part of the team led by the University of California, San Francisco that recently secured funding from DARPA as part of US President Barack Obama’s BRAIN Initiative. Cortera designs medical devices aimed at revolutionising the treatment of incurable neurological conditions and will be providing their technology to support the project.

121cast (MAP12): launched audio translator SoundGecko in July 2012 followed by personalised radio app Omny in October 2013. 121cast raised $250,000 from SingTel Innov8 and Adventure Capital in late 2012 and secured a further deal with Southern Cross Austereo, the largest radio network in Australia.

Professor Ross Garnaut AO

PM and Treasurer at ‘Pathways for Growth’ event Australian Prime Minister Tony Abbott and Treasurer Joe Hockey attended the recent Economic and Social Outlook Conference co-hosted by the Melbourne Institute and The Australian.

The focus of this year’s two-day conference held on Thursday 3 and Friday 4 July was to address the key economic issues and examine global headwinds that Australia faces. In its ninth year the 2014 event continues to be Australia’s leading platform for public policy discussion.

2Mar Robotics (MAP13): founded by Young Australian of the Year 2012 and Engineering alumna Marita Cheng (BE, BCS 2013), 2Mar builds robotic arms for people with limited upper body mobility. 2Mar has received support from Tech23, the Victorian Government, and STC Australia.

The Hon Malcolm Turnbull

Themed ‘Pathways to Growth’, the highlights of day one included a debate between Social Services Minister Kevin Andrews MP and opposition spokeswoman Jenny Macklin MP on the ‘Age of entitlement’. Treasurer Joe Hockey MP provided an overview of the Commonwealth Government’s finances over lunch and the Prime Minister spoke about the economic and social challenges that lie ahead for Australia, at the delegate dinner at the MCG. Day two saw Professor Ross Garnaut AO join a panel discussing the subject of emissions, while Paul Howes, national

secretary of the AWU (who stepped down from the role in July 2014) spoke later in the day on the subject of a productive workplace. Lunch on the second day saw the focus shift back to politics with Leader of the Opposition Bill Shorten MP outlining Labor’s plan to secure victory at the next election.

According to the Director of the Melbourne Institute, Professor Deborah Cobb-Clark, the consistent thread running through all conferences have been that continued policy reform can enrich Australia’s overall well-being while providing opportunities for all.

“This is a unique forum bringing together leading politicians, bureaucrats, academics and non-government organisation representatives’ highlighted.”

Further information about the conference can be viewed at: melbourneinstitute. com/Outlook_2014

Bluesky (MAP 12): Bluesky is an app that allows users to shop the latest fashion and lifestyle trends.

Bluesky founders David Mah and Nigel Ang (BSc 2011) participated in MAP12 and were finalists at The Big Pitch.

University of Melbourne Vice-Chancellor Professor Glyn Davis AC, Director of the Melbourne Institute Professor Deborah Cobb-Clark, Prime Minister Tony Abbott, and event MC and editor-at-large at The Australian Paul Kelly.

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You can support the growth of MAP with a philanthropic gift by visiting http:// go.unimelb.edu.au/5hmn.

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student focus

Supporting experiences that enrich student life

A holistic University experience for students is a priority for the Faculty of Business and Economics. Whether it is through global travel experiences, formation of student groups or community engagement, the Faculty enthusiastically supports students who wish to take their education beyond the classroom walls. In this edition we profile some worthy student projects.

Maggie takes on the United Nations Current BCom student Maggie Yang has been given the opportunity to take her passion for changing the world outside of the classroom and into a global arena.

With support of the Faculty of Business and Economics and Rotary North Balwyn Maggie was a delegate at the 2014 Harvard National Model United Nations (HNMUN).

One of 25 students selected from across Australia and New Zealand to form the ‘StatesMUN’ delegation, Maggie embarked on a trip through San Francisco, Washington DC and New York City before travelling to Boston to join the 3000 other delegates to participate in the 2014 HNMUN. Maggie was provided with a grant to assist with funding her trip.

“It speaks volumes to the University’s intrinsic values and belief in equality that every student has the opportunity to reach further and aim higher regardless of their financial background or situation,” she says.

Maggie’s work as a local volunteer with the Oaktree Foundation, a youth-based organisation committed to ending global poverty will be enhanced by her journey which gave her the opportunity to speak with NGOs from all over the world.

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The White House, Washington DC

Maggie learned a great deal about the social impact work of the multinational organisations she visited and met with during her tour.

The young people she met were also inspiring.

“The young people I met were incredibly intelligent and extraordinarily passionate about creating a change in the world,” Maggie says.

That they were making huge positive impact on the lives of others in their day-to-day operations was immensely motivational.”

But it wasn’t all work, Maggie was an eager tourist and relished in the experience.

She was “giddy with excitement at the sight of snow”, “excited by burger chains” and learned to read a map while navigating the streets of New York.

“We toured the White House and listened avidly as the security detail described Beyoncé giving a mini concert, took group photos in the United Nations Security Council meeting room and joined aggressive fan-chants at a Knicks game in New York,” she says.

Maggie Yang

Kyle Sutcliffe

Andrew Kemp

Andrew Wheeler

Commerce students use old computers to close the gap Last year current BCom students Andrew Kemp (BCom 2014) and Kyle Sutcliffe (BCom 2014), and alumnus Andrew Wheeler (BCom (Hons) 2012) founded their own Not for Profit organisation, Australian Indigenous Education Support (AIES), which sources donated second hand computers and sends them to disadvantaged schools with arge numbers of Indigenous students.

Through a partnership with the Northern Territory Department of Education, AIES has helped the University of Melbourne faculties donate more than 80 computers to schools in need.

The cause is certainly a worthy one.

With the Indigenous educational gap an average of two full years of schooling research shows that computer-based learning can help bridge this.

The three founders were inspired to establish the program after they heard about a similar program encouraging the donation of old medical equipment to Kenyan hospitals.

On a recent trip to the Northern Territory, Andrew visited a number of schools that received the faculty’s computers to see the impact they have had first-hand.

“We were inspired by the simplicity and practicality of the initiative and it occurred to us that the University was well placed to make use of their old computers in a similar way,” says Andrew Wheeler.

The three approached former FBE Dean Professor Margaret Abernethy and she was eager to support their venture linking them to the University IT department and a transport partner.

When investigating the idea, Kyle, Andrew and Andrew found that most faculties’ computers were discarded or sold for a small fee.

The computers are being welcomed with open arms. Whilst the Northern Territory Department of Education funds a computer program, the extra computers allow schools in socio-economically disadvantaged areas to increase the ratio of computers to students.

“Computer-based learning is a central part of the Australian curriculum, yet there is a serious shortage of computers in many remote and disadvantaged schools. It was wonderful to see the computers being used to provide equal opportunities for students from disadvantaged backgrounds.

The AIES is looking to arrange another successful round of donations.

Kyle, Andrew and Andrew, working with current BCom student, Jonathan Lau, are soliciting computer donations from other faculties at the University of Melbourne and from secondary schools.

The Faculty of Engineering pledged 100 computers delivered to schools in June. Support is also rolling in from the Faculties of Law and Architecture, Building and Planning, and a number of secondary schools, with another 125 computers to be donated to schools and communities in the near future.

While not all donated computers meet the standards for use in Australian

The Indigenous educational gap is an average of two full years of schooling – research shows that computer-based learning can help bridge this.”

The AIES initiative has received the University’s Peter McPhee Student Award designed to promote community engagement. The team will use the award to fund storage and transport costs, with the remainder to supplement computer donations with supporting hardware.

“This grant removes the bottlenecks in the computer donation process, allowing us to manage the donation of a lot more computers every year,” says Andrew Kemp.

The AIES team would welcome support through donations of computer equipment, funds, services or advice. If you would like to support the organisation, please contact the group through the faculty or at info@aiesupport.org

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“We were really impressed with the response,” says Kyle. “In particular the initial support from the Faculty of Business and Economics. They immediately saw the impact that their equipment could have on the educational outcomes of Indigenous and disadvantaged students”.

“Everyone I met strongly emphasised the value that computers have in addressing educational inequality,” he says.

classrooms, the tenacious group have started to identify alternative recipients within Australia and overseas to ensure that all donated computers will find a worthy home. One of the next donations will be to a secondary school just outside of Port Moresby, Papua New Guinea.

global alumni

Alumni postcards

The Faculty of Business and Economics has a global community of more than 47,000 alumni. Here we share stories about what some of our graduates are doing.

To update your profile, please send an email to fbe-alumni@unimelb.edu.au

kuala lum pur

Kathy Pung Quek (BCom 1976, LLB (Hons) 1978) Malaysian entrepreneur Kathy Pung Quek was a trailblazer when she commenced her studies in 1974 and since then has seen many women in her family follow her in her footsteps. She shares her journey and perspectives.

“40 years have passed since I commenced my undergraduate studies in Commerce/ Law at the University of Melbourne in 1974. I was part of the pioneer batch of women entering Ormond College with Tan Lei Cheng, as the college had only started admitting girls the year before.

My sister, Christina, joined me two years later for her Commerce Honours degree.

Little did I know that years later, my three girls Sarah, Audrey and Rachel and Christina’s two daughters, Sabrina and Priscilla Lim, would follow in our footsteps and graduate with Commerce degrees from the University of Melbourne. Indeed, our family has strong links with the University.

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Upon graduation, I qualified as a Chartered Accountant and Chartered Secretary but ended up being an entrepreneur.

About 30 years ago, together with my husband Dennis, I started a small business distributing computer peripherals. This pathway has enabled me to work and connect with people on a daily basis and I have no intention of retiring.

My goal is to live life to the fullest. I enjoy exploring the world and learning something

new every single day. If there is one thing life has taught me, it is that education certainly does not stop when you leave university.

I strongly believe in helping others where possible and connecting with them when needed. In fact, I maintain an active emailbased ‘newsletter’ that I share with friends around the world to inspire, help and connect people. Likewise, my university friends have also been very kind to mentor my three girls as they tackle life after university. Thus, I definitely believe that alumni links are of the utmost importance.

I enjoyed university thoroughly and immersed myself in the University’s social and extracurricular scene. I was the Secretary and later Vice-President of MUASA (Melbourne University Asian Students Association) and remember having so much fun organising events such as the Combined Asian Ball with other tertiary institutions, field outings and parties for overseas students.

Sarah and Rachel were actively involved in the clubs and societies as well.

Both were voted in as Presidents of MUOSS (Melbourne University Overseas

Little did I know that years later, my three girls and Christina’s two daughters would follow in our footsteps and graduate with commerce degrees from the University of Melbourne.”

Sarah, my oldest daughter, has a Commerce Honours degree in Accounting. She is currently a Fellow with Teach for Malaysia and is teaching English at a high-needs government school in Sungai Petani, Kedah.

Students’ Service) in 2008/09 and 2012/13 respectively and Audrey was the International Representative for the Commerce Society in her third year. All three girls were also university tutors and gained much experience teaching others.

My second daughter, Audrey, did her Masters in Finance, and is now working in Zurich for Novo Nordisk. The baby of the family, Rachel, graduated last year, and is currently interning in Melbourne before she heads to Oxford for her Masters in Financial Economics. We are grateful to the University for offering Rachel a full scholarship for her undergraduate studies.

Time has indeed flown by. I still recall attending the early alumni dinners in Kuala Lumpur whilst pregnant and now my babies are also alumni members.

Our family would like to express our gratitude and appreciation to the University for bringing us this far. May we continue to have many more years of warm friendship with the University.”

new york

Jessica Bibby (BCom, BSc 2005) Ben Combes (BCom 2005)

Jessica Bibby and Ben Combes met on their last day of class in 2005.

They were both studying Commerce subjects. Now almost a decade later they are happily married, working in corporate roles in New York and living the dream.

“Ben and I met on the last day of classes in 2005. I was completing a double degree in Commerce and Science, and Ben was completing a Bachelor of Commerce.

A mutual friend invited us to go out and celebrate what would be the end of classes forever, at the infamous ‘U Bar’.

Melbourne University was such a memorable time for both of us, filled with inspirational lecturers we would both remember fondly long after we left.

The fun of sleeping out overnight for Commerce Ball tickets. Making amazing and lasting friendships during ‘O Week’ and so much more.

our way home! It was somewhere that we had both always wanted to live and with our respective career backgrounds it seemed to be the epicenter of our industries.

We arrived in New York in September of 2013, suitcases in hand and began the search for jobs.

Networking is key in the job-hunting process over here. It’s hustle, hustle.

You really need to be persistent, persevere and get in front of as many people as you can because you never know who will be able to help get your resume in front of the right people.

Last year we decided to make a big change and travelled to Europe for three months on our honeymoon with New York being the last destination before we made

I have since started work at Estée Lauder on Fifth Avenue, where I am the Marketing Manager for North America on Michael Kors Beauty, Tory Burch, Coach and

It is a wonderful experience, which I am thoroughly enjoying!

Ben is working at Credit Suisse in equities, working with Equity Research and HOLT® on a strategic project. He is currently managing an initiative between the two divisions of the bank across USA, LATAM and Canada.

We both found the integration into the New York work culture surprisingly seamless. Everyone was very friendly and there are so many similarities in the ways of working, especially within my industry. This wasn’t an issue at all.

There’s also a great network of Australians over here. Everyone is open and friendly and ready with tips to enable settling in and everyone wants to help anyway they can. Furthermore, there are multiple groups for Australian women in New York and I am joining a netball team with fellow Aussie expats even though most of my co-workers have never heard of the sport!

We absolutely love New York and look forward to growing our careers over here and having a great time whilst doing so.”

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We got married nine years after that night out and our wonderful friends from the University were there to share it with us!

That was one very different experience over here, versus the job search process at home. It’s more about networking than recruiters and job search engines.

LinkedIn is an essential tool over here and was absolutely key for both of us.

Connecting with people at the companies you want to work at and reaching out to have exploratory interviews with them to hear more about a particular role, or workplace was key.

Lab Series Skincare for Men.

Alumni profile

Riding the Reverse culture shock wave Founder of CareerXFactor, a new networking website that helps returning Chinese students and expats settle into life inside the world’s biggest economy, Jill Tang (MBA 2011) talks to Angela Martinkus about her experiences at Melbourne Business School and how they have shaped her new business venture.

When Jill Tang left Beijing for Melbourne in 2003 she was a fresh-faced 20 year old with a humble dream to complete a degree, improve her English skills and return home to China.

During the next eight years however, a lot changed. China’s economy moved into overdrive and the world that many international students like Jill left behind changed significantly while they were abroad studying.

So after completing her undergraduate studies Jill was eager to get ahead and started a career in the finance industry but was restless for more opportunity.

“At that time my career was bottlenecked,” she says. “I was an analyst at AXA and later moved to the accounting department but I felt that with my personality it just wasn’t for me.”

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In 2009 she applied to Melbourne Business School and was accepted into the MBA program.

The experience transformed her career (she switched from a finance role to a marketing position) and provided Jill with the skills needed to manage the biggest transition of all – moving back to Shanghai to start her career afresh.

“The first lesson I learned from Melbourne Business School was understand yourself and networking, networking, networking,” Jill says.

“Melbourne Business School equipped me with leadership and entrepreneurial knowledge but I also learned so much more about myself - what I liked and what I am good at.

“I also developed many great and lifelong friendships and I have a network and friendships all over the world, who are helping each other grow together in business, careers and personal life.”

While focused on returning to China at the completion of her MBA, Jill participated in the School’s student exchange program and studied at Shanghai Fudan University in 2011.

“I thought that it would give me a great launch pad into the career I wanted,” Jill recalls. But the reality was very different. In the eight years she had been out of the country a lot had changed.

A lot of local Chinese students had good English language skills, so that wasn’t a huge differentiator. Jill didn’t have a client base or local networks that would be attractive to an employer and there was a big difference between the local wages and what she was used to.

“It was very tough because everyone in Australia said how well I would do with good English and a great personality,” she says.

Top 5 tips for Chinese returnees 1. Do your homework – know the recruitment season, hiring processes and salary levels.

2. Get an internship – internships during Chinese holidays are a good way to get your foot in the door.

3. Be humble – you don’t have much competitive advantage over local graduates. Learn and grow and then you will have more opportunities.

4. Networking – associate with the communities who share your values, such as alumni from your university or the country you studied in.

5. Be open-minded and flexible – expect reverse culture shock even if you grew up in China.

Also, it’s such a fast moving market and often things don’t go to plan.

Top 5 tips for expat students “Chinese overseas returnees were often mistakenly categorised as Chinese, which they are NOT,” she says.

“Individual alumni want ties back to the community who share their values and experience.

I was 29-years-of-age with an MBA and only earning $1000 per month. I basically had to start back from zero.”

“I was 29-years-of-age with an MBA and only earning $1000 per month. I basically had to start back from zero, again.

“I got a job, for which I was over-qualified, and then I started to go out networking”.

Building connections back home in Shanghai was critical and when she started to go out networking, to places like the Australian Chamber of Commerce she realised how common her experience was.

“I met a lot of people who came back to the same reverse culture shock.

“We speak the Chinese language and know the culture but our perspective through business and social lives was very different. I felt more like a foreigner than a local in Shanghai.”

Knowing that she had to widen her business networks to attain a more senior role Jill accepted a position managing the Business Development for the Australian China Alumni Association.

Before long Jill had started to build a profile of what returning students wanted and needed when they returned home.

“They want to keep in touch with Australia and they need help with career development and job placement.

“I found there was no current platform providing all of these needs.”

The University of Melbourne leads several alumni programs in Melbourne and in China to assist returning students to find jobs and re-orient back into the Chinese work culture. These include sponsorship a global suite of alumni chapters, alumni networking events, public lectures, career preparation services and online mentoring for international students.

Through her own experiences and those of others she met, Jill realised there was a gap in the market and a lot more could be done to help returning and expat students understand more about working in China.

So despite the barriers to entry Jill had initially experienced she soon realised that with the right connections the entrepreneurial opportunities in China were limitless.

Jill’s website CareerXFactor launched in August 2014 and took her 14 months to build. It’s more than a job seeking site, or a site advertising network events and uses the latest collaborative online technologies to bring together information onto one platform, helping students returning to China make the transition as seamless as possible.

“When friends from my MBA course came over, I helped them settle in and introduced them to people but they always had the same questions. So I thought if I could answer the same questions for them why not make a video so many people can get access to the

2. Be prepared – investigate visa eligibility and talk to people with a similar background who’ve worked in China.

3. Learn the language – preparing yourself by taking a Chinese language course is really important.

4. Networking – embrace the culture and meet like-minded people whether that’s expats from other countries, alumni from your university or other social groups.

5. Be open-minded and patient – it takes time to be comfortable living in a country with a completely different culture.

Be open-minded and patient in making friends with Chinese locals. In the end, you will get there.

same information even if they don’t have friends in China.

“So if I’m a student in Melbourne I can look up the site, watch videos and hear from people who have gone through the same experiences, get information and insights into how the job market works, when the hiring season is and networking tips and contacts.”

For the record coming home to Shanghai, “is the best thing I have ever done.” In three years Jill has settled back in and is enthralled by the opportunities the city offers.

“My favourite part of the city is the French Concession,” she says. “It’s just like Melbourne, it’s got great laneways and coffee shops.”

Go to the website at www.careerxfactor.com Jill has also recently been appointed as the leader of the Melbourne Business School alumni chapter in Shanghai – connect with her at http://www.mbs. edu/alumni/Pages/Alumni_Chapter_ Information.aspx

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During this time Jill learned a great deal about the returning student community via networking events and her own social circles and without even realising she started to implement key strategies from her favourite MBA subjects – Market Research, Business Strategy, Brand Management and ISA (Industry Studies in Asia).

“They attend Australia Chamber of Commerce, or Australia China Alumni Association events to meet like-minded people going through the same challenges.

1. Visit first – go on an exchange program, or a language course to understand if it is the right place for you.

Alumni profile

The goal setter Paul Hameister (BCom 1991, LLB 1992) co-founder of boutique property developer HAMTON has some simple tips for would-be entrepreneurs – set goals, meet 90 per cent of them and learn from your failures. This edition’s profile cover story by Angela Martinkus.

Every year, around the 1st of January, Paul Hameister gears up for the toughest negotiation he’s likely to encounter for the next 12 months.

Around this time of year, every year, the 44 year old co-owner of awardwinning property development firm HAMTON, entrepreneur, devoted father and husband, CrossFit athlete and mountaineering legend sets his goals for the year.

There are usually about 40 of them, broken down into categories from business, wealth management, personal fitness, travel and adventure, family, friends and community.

Setting them is the easy part. Then he’s got to sit down with his wife and negotiate what she’s prepared to support.

“I go through with Vanessa what I want to achieve and if she’s not happy with anything on the list, I’ve either got to convince her or it comes off,” he says.

“It’s an annual partnership planning meeting and ensures she knows why I am spending my time in a certain way each year.”

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For the record, his strike rate is about 90 per cent for goals achieved to goals set. Not bad considering he sets goals like, “climb the seven highest peaks on the world’s seven continents,” which he pulled off in 2013. One of only 12 Australians to achieve this treacherous feat which he did in only five years. It’s a fitting analogy for the laser-like focus he’s applied to all parts of his life.

to achieve every year, it also makes it easy to say no to distractions and ensures he maintains a balanced life.

“It’s the little improvements I try and make each year in all areas of my life, which like compound interest sort of add up over time”, he says, seated in the South Yarra-based HAMTON boardroom overlooking the Melbourne skyline.

It’s an insight into the mindset of a man who’s been a high-achiever ever since he was a kid.

Born and raised in Adelaide, the Hameister family moved to Melbourne when Paul was 12 years old.

“Dad was working for a transport business and running an indoor cricket centre at night and Mum was a school teacher working in the labs at night”, to put their three kids through private schools.

He attended Haileybury and was the first one of seven generations of Hameisters in Australia to complete Year 12, where by his own admission, he worked his “butt off”.

Plans to join the army and get paid to train as a dentist were re-visited when he “did a lot better than expected”, achieved an exceptional VCE score and opted for a Law/Commerce degree at the University of Melbourne.

“It was 1987 and the heroes of the kids in the Commerce Faculty, including me, were Skase, Bond, Elliott, Holmes à Court,” Hameister sheepishly admits.

Hameister has been setting goals ever since he was 17 years old.

He gravitated more towards the Commerce faculty, rather than the Law School, and went straight through his double degree in five years.

“It’s something I look forward to every year,” he says of the practice, which not only helps him focus on what he wants

Summer breaks were a chance to get ahead and at the end of first year he wrote “more than 100 letters” to secure

He was young, focused and very determined and he’s achieved great things working for himself, rather than working for another organisation and doing it their way.”

– Bob Mansfield an internship. Even Robert Holmes à Court got one (he didn’t reply) but Arthur Robinson & Hedderwicks did and while his colleagues were partying in the sun, young Hameister was seated in the law firm library summarising articles “about mergers and acquisitions, which I was really interested in.”

“Copping rejection after rejection letter was an early lesson in building resilience.”

“I never took a holiday through Uni,” he says and in following semester breaks he worked at management consultancies,

Paul had worked out that students didn’t know anything about this new emerging area of investment banking and developed the idea for a new association that intermediated the gap between the students and the firms.” – Peter Yates

setter

investment banks and offshore at accounting firms, learning about business, making connections and fuelling his passion for deal making.

“He came to see me to talk about establishing a student association to assist students to find jobs in the new industry called Investment Banking.”

While still a student he tried to get elected to the committee of the Commerce Students’ Society, started by one of his early heroes John Elliott, “but it was a closed shop and I couldn’t get in”.

“He made a very persuasive pitch and it suited Macquarie Bank at the time because we were new to the industry and at the bottom of the pile.”

“Coming from a family that didn’t have a lot of connections to the business world it occurred to me that a lot of the kids getting jobs were kids whose families had connections.

“So I thought bugger you blokes, I’ll start my own club.”

Peter Yates AM, Deputy Chair of the Myer Family Company and Chairman of the University’s Business and Economics Board, remembers the meeting well.

“Paul had worked out that students didn’t know anything about this new emerging area of investment banking and developed the idea for a new association that intermediated the gap between the students and the firms,” Yates says.

After the meeting, Macquarie Bank signed up as Gold Sponsor of the newly formed Financial Management Association of Australia (FMAA), which now has more than 4,500 student members,

It was an early example of Hameister’s entrepreneurial flair. He also lined up a job with Yates but decided to complete his articles at Freehills first.

“In my mind I hadn’t finished my law degree until I had done articles,” he says.

At the Bank in the early 1990s Hameister found himself in a commercial hothouse “working on buying and selling businesses, takeovers and floats.” He worked six days a week, had “breakfast, lunch and dinner at my desk” and was regularly working through the night into the next day.

It was a small work environment, “very entrepreneurial, creative and innovative,” he says.

Yates was one of his bosses and recalls a young man in a hurry with good analytical and drafting skills.

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And so it followed that the young Hameister met with then banking executive Peter Yates in the Melbourne offices of Macquarie Bank.

The previous year, Yates had gone to the University to make a pitch for graduating students to join Macquarie Bank. He got zero response.

40 corporate sponsors and both Hameister and Yates still co-chair the National Board.

Alumni profile “He was a star and very entrepreneurial,” Yates recalls. “The challenge was always going to be that the time would come when he would tire of providing advice on business transactions and want to move into business himself.”

While at Macquarie, at the top of his game, Hameister applied for a Vincent Fairfax Fellowship, Ethics and Leadership Award.

“They picked 15 young Australians from all walks of life and put them on a two year leadership program, which provided a framework in which to make ethical decisions.

He stepped out of the ivory tower, gave up his holidays and spare time (again) to work through the program and came to the realisation that “I didn’t want to spend the rest of my life working at a desk six days a week.”

A student of leadership – Hameister had a mentor at Freehills (Peter Hay) and Macquarie Bank (Alistair Lucas) – so when he joined the program and was to be assigned a mentor he decided to seek one of his own choosing and called the chief executive of Fairfax at the time, Bob Mansfield AO, and asked him direct.

Bob Mansfield was a bit taken aback.

“Who are you?,” he recalls asking when he received the call. “And we got together for a coffee and have been together in a very valuable relationship ever since.”

“He was young, focused and very determined and he’s achieved great things working for himself, rather than working for another organisation and doing it their way,” says Mansfield.

Toward the end of his time at Macquarie, Hameister had worked on a deal for a company called Viacom. After he left the bank they asked, “if I’d be the Managing Director in Australia.”

The answer was “yes” and at 28-yearsof-age Hameister was the Australian MD of the 2nd largest media and entertainment company in the world.

ABOUT HAMTON “The genesis behind HAMTON, established in 2006, was to create a vehicle to give institutional capital an exposure to residential development rates of return. In particular, industry super funds because they were doing retail, industrial and commercial development on balance sheet but not residential development.

“It was right time, right place. We were at the forefront of that partnership model.”

With more than $1.2 billion in completed residential projects Hameister says, “Amongst others, we’ve done six projects with the Industry Superannuation Property Trust (ISPT). They have invested around $100 million of equity with us and we have generated returns for them on average of 33 per cent per annum. 50 per cent of Australian workers have their superannuation invested through ISPT, which is pretty satisfying at a personal level.

“The reason we have been successful in that relationship – other than the returns we have generated – is because they can trust us. We differentiate ourselves as a private developer by operating with integrity, ethics and transparency.

“For me one of the most important building blocks of my career has been building relationships of trust and doing the right thing by people. If things work and you make lots of money then everyone is happy. If for reasons beyond your control things don’t work, then everyone knows you have done the right thing by them and it’s part of life. Move on.”

Hameister regards the project as “my biggest failure and learning experience.”

“It taught me that it’s better to fail while daring greatly than not to have tried at all.

“At home we have a massive framed picture of the theme park plans on the wall, to remind the kids that it is okay to fail and it’s important to celebrate failures.”

In the wash up after turning down a job in Hollywood he took stock. “I looked at the industries in which people had made serious wealth in Australia and it was

either IT or property development.”

One of the key people he’d met “across the table” in recent negotiations for Viacom was Michael Buxton.

“He took me under his wing,” Hameister says. “I worked at MAB for three years, learnt the game and after leaving, Michael’s eldest son and I formed HAMTON eight years ago.”

He is also “committed to giving something back”. Amongst his various philanthropic interests, in 2013 he received an

In 2013 he received an Excellence Award from the Nepalese Association for his long-standing support for an educational scholarship for 90 ‘at risk’ Nepalese children in Kathmandu.”

“I did that for five years. It was good fun,” he says.

Viacom were leading a joint venture consortium to build a theme park at Melbourne’s Docklands, which was still in its infancy. It was a big play and a big deal at the time.

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So while one side of the role was, “trips to LA once a month, going to the Emmys, sitting in the Paramount studio lot in Hollywood, smoking cigars and drinking Pepsi Max.” He was also charged with delivering an ambitious project with multiple stakeholders and opponents hostile to its success. He threw his heart and soul into the project but “it all fell over and then we had to wind it up.”

Donations by Paul Hameister to the Sunrise Children’s Association fund scholarships for Nepalese children.

For me, I am most engaged when there is a big audacious challenge that I am working towards and that’s when I feel most alive.”

Summit of Mt Vinson, highest peak in Antarctica

conquering MOUNTAINS Excellence Award from the Nepalese Association for his long-standing support for an educational scholarship for 90 ‘at risk’ Nepalese children in Kathmandu.

For the past 25 years he has also actively mentored all Victorian-based FMAA Presidents.

Back home his property development interests continue to expand and diversify – a property management business, an owners corporation management business, an infrastructure business that re-sells all of the electricity in the buildings.

He is also getting more involved in funding new ventures, like a Mexican food business making tortillas out of real corn, a CrossFit gym, award-winning documentaries, coin laundries and more.

“Entrepreneurs will drive the economic wheels of Australia,” he says. “It’s these guys that are taking risks and starting businesses that are creating the future jobs for everyone else.”

“Years later my HAMTON business partner and I agreed to take a three-month holiday each year. So I needed a project to fill some of that down-time and figured I’d have a crack at high altitude mountaineering.

“I started with Aconcagua in December 2007, which is in the Andes and three out of 11 in our expedition made it to the top. There was a guy in the group in front of us who died from altitude and a guy in our group fell off the top of the summit and knocked himself unconscious so we had to get him back to Camp 2 and airlifted out.

“After that summit, back at High Camp, I rang my wife on the satellite phone and said it was the stupidest thing I’d ever done and I’d never climb another and as soon as I got home I forgot all the bad stuff and thought where’s the next one?

“And that was it. It became an all-encompassing project that led to my whole passion for elite athletic performance, fitness training, diet and lifestyle.

“I was the first climber to the top of Vinson in Antarctica for the 2012 season, first to the top for Everest for the 2011 season. Did Denali in the Arctic in just six days and in the end it was time to pull back.”

“I’m not an adrenaline junkie,” he says. “Life is about finding things that engage you. For me, I am most engaged when there is a big audacious challenge that I am working towards and that’s when I feel most alive. It doesn’t have to be a mountain. It can be a new development project or investment. Anything where I am out of my comfort zone.”

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“I love what I do. I love the deal making, the creativity and the innovation and I believe that the key to the future success of Australia’s economy is entrepreneurial creativity.

“When I was at MAB Michael Buxton asked me to go on a surfing trip to Banda Aceh. I’d never really done that sort of stuff before, just worked, and that gave me a taste for adventure travel.

career mentoring

Mad about mentoring

Ms Renata Bernarde (left) and Kristen Goulopoulos

More than 200 students reached out to mentors during the past year and demand for the program continues to grow.

The extremely successful Faculty Career Mentoring Program, which is now in its eleventh year, is continuing to expand.

This year 221 graduate and BCom students participated in the program, which was hosted by 198 professional industry mentors. For the first time the program went global with nine Asia-Pacific based mentors matched with students from their country.

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The program, which runs throughout the year, matches students with professionals in a mentoring partnership based on shared interests and areas of speciality.

A newly developed online eCoaching module was introduced for overseas mentors to facilitate and enable online discussion forums.

The popular program, which has been running since 2003 highlights how much people can learn from one another and how mentoring can help careers to develop and grow.

marketing minds meet – Kirsten and Renata Mentee: Kristen Goulopoulos, Intern L’Oreal, (MM 2013, BA 2011) How many years did you participate in the Career Mentoring Program as a mentee?

I participated during 2013 but Renata (my mentor) and I have continued our mentor/mentee relationship, which is one of the most significant relationships I have developed in my career so far.

During the mentoring program I was in the second year of my Masters of Management (Marketing) degree, and it was overall my fifth year at the University of Melbourne, having previously completed a Bachelor of Arts.

What were the most valuable aspects you gained from having a mentor?

Renata has a wealth of knowledge and her experience and advice has been the most valuable aspect of the program.

Simply listening to Renata talk about the different situations and contexts she has experienced has given me an understanding of how the marketing industry works in practice.

It is extremely helpful to ask questions and receive honest feedback on what I should and shouldn’t be concerned over.

My goal from the program was to develop myself professionally on paper and in person. Even though she has such a busy schedule, Renata always found the time to sit down and go through my resume.

Her attention to detail and advice about what different parts of my resume said about me, helped me to develop a resume that I am very proud of. I admire Renata and she is someone I look up to as a strong role model.

Tell us a bit about your role or industry in which you are currently working.

I work for a thought leadership organisation, the Committee for Economic Development of Australia (CEDA). My role is to ensure we engage with our top corporate stakeholders and members so we can develop research and events that focus on economic and social issues affecting Australia. For example, we host functions at Parliament House in Canberra with the Prime Minister, Cabinet and the

My interviewing skills improved through my mentor relationship with Renata – in particular active listening, communicating succinctly and what interview strategies can be successfully used.”

Mentor: Renata Bernarde, National Membership Manager, Committee for Economics Development (BCom 2004)

If your mentee has been able to successfully practice just one key skill or piece of knowledge from you as a mentor, what would it be?

How many years have you participated in the Career Mentoring Program as a mentor?

Phone skills are under-rated but very important for job interviews. I want my mentees to be confident at picking up the phone and calling anyone. The recruiter, a friend of a friend, the CEO’s EA. Whoever they think can help them in their careers.

The perfect phone conversation that is respectful yet convincing and you need the famous elevator pitch ready without sounding “sale-sy”. It’s hard to learn for some, but so very effective in life.

This is my second year, so Kristen was my first mentee but I have been involved in other mentoring programs as well.

Did your experience as a mentee influence your decision to become a mentor?

Opposition members discussing their policies and obtaining feedback from the business sector and academia. It’s a lot of fun and I learn something new every day.

I am currently completing a marketing internship with L’Oreal and work on the brand La Roche-Posay, which is sold in dermatologist’s clinics and pharmacies.

I get to see marketing activities in practice within the marketplace, which is extremely exciting. We recently held a blogger event at head office to introduce our new products.

Can you talk about a challenge where you’ve been able to utilise skills you learned from a past mentor?

Do you take part in any other mentoring programs?

I am the Chair of the Mentoring Work Group at the MBA program at La Trobe University. This year I have also mentored a student at the University of Melbourne Scholarship Access Program and I am starting a new venture helping an American organisation supported by the UN and the World Bank that is recruiting over 2,000 mentors willing to remotely work with mentees in South Africa. I hope I can contribute with the recruitment of at least 200 Australian mentors. It is all very exciting and I am so thrilled to be able to help.

What has been the most valuable aspect of being a mentor?

Getting to know Kristen has been the best part of the mentoring program. I think she is fantastic and the organisers did a good job pairing us. We have a lot in common but we also have very different personalities. I learn from her just as much as she learns from me. I am also living vicariously through her experiences, as she got an amazing internship at L’Oreal and I love hearing about her work and all the products she gets to try!

If you think back to immediately after graduation what is the top tip you’d give yourself?

Eat healthy, wake up early, don’t sit at your desk all day, always be nice to people but learn when it is okay to say no, celebrate your accomplishments and work for people and organisations you trust.

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The challenge of writing internship applications. I have developed my resume writing and interview skills with Renata. Throughout the recruitment process I employed Renata’s advice.

It was fascinating using her perspective as a recruiter on what aspects of a resume stood out and which didn’t.

My interviewing skills improved through my mentor relationship with Renata – in particular active listening, communicating succinctly and what interview strategies can be successfully used.

Yes, it did. I have a couple of very special mentors who helped me so much, some of them for only a brief period, others I have been in touch with for many years.

The learning is fantastic. I know they have my best interests in mind when they are giving me feedback, ideas and sharing their knowledge and experience. So when I could help someone as a mentor I jumped at the opportunity. I am at a stage in my career where I have accumulated enough experience that I can share and also understand and empathise with someone who is starting their career and experiencing their first job – first manager, first major blunder. It is all new to them but I hope I can give them a sense of perspective.

our vision

Doubledegrees The Commerce Opportunity Bursaries have been awarded, thanks to an anonymous donor, since 2010. In 2014, one of the three annual bursaries was shared between two recipients; twins Peter and Cynthia Dupes.

Peter and Cynthia Dupes are just like any other first year Bachelor of Commerce students on campus – eager to learn, discovering a love of coffee and mastering the balancing act of University life.

They are also the co-recipients of one of the 2014 Commerce Opportunity Bursaries, made available through the generosity of an anonymous alumni donor.

The bursaries are available to Victorian residents who apply for entry into the Bachelor of Commerce to assist high achieving students who are in financial need, or are otherwise disadvantaged.

Peter and Cynthia graduated from Lalor Secondary College in 2013 with the same goal in mind – to undertake the Bachelor of Commerce at the University of Melbourne. Peter has always loved maths and finance-based subjects, whilst Cynthia has always been interested in business and legal studies.

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From their first day of school in prep, the twins have been in the same class all the way through to the completion of year 12. So it seemed only natural that their University experience would also be shared. The University of Melbourne had long been their number one preference, however the financial pressures on their single mother was a concern for the twins.

“We always wanted Melbourne, but didn’t want to put the strain on Mum,” says Cynthia. According to Peter,

“If we got the marks we still would have chosen Melbourne, it just would have been financially difficult.”

Cynthia received the email informing her of the scholarship and she was “elated” but then instantly disappointed. “I really wanted Peter to get it.”

After reading through the email Cynthia discovered that the scholarship was to be shared with Peter, and their Mum’s reaction was “speechless ... then tears!”

When asked how they felt about sharing yet another milestone, Cynthia says, “We have never been separated, we were always in the same class, we have the same friendship group, to not share the scholarship would have been weird.”

Their transition into university life has been an eye opening one.

“All of a sudden it feels like you are competing with thousands,” says Peter.

But the twins agree that sharing the University experience with “like-minded people who are here to learn” is the most rewarding aspect, as well as being accountable for their own success.

Cynthia says that “staying on top of things and not falling behind” has been one of the most difficult aspects, but the “great independence we now have” makes it all worth it.

Their multicultural cohort is also something that is opening up their world and they

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Peter and Cynthia have utilised their bursary to help with the costs of textbooks, commuting expenses and were even able to purchase laptops to assist them in lectures and tutorials. Whilst they still tutor high school students, the bursary has meant that they don’t need to seek further employment and for that they are extremely grateful. “We are here to learn and not having to have part-time work means we can focus solely on our studies,” says Peter.

We can’t express how grateful we are. Every single member of our family wants to thank our donor.”

When asked what they would like to pass on to their donor or potential donors Cynthia says: “We can’t express how grateful we are. Every single member of our family wants to thank our donor.”

Cynthia and Peter want to further their studies, with a Master in Finance for Peter and the Juris Doctor for Cynthia. We can’t wait to see just how far they will go.

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Donations of $2 or more to University of Melbourne initiatives in Australia are tax-deductible for Australian tax payers. ABN: 84 002 705 224 Donations of $2 or more to University of Melbourne initiatives in Australia are tax-deductible for Australian tax payers. ABN: 84 002 705 224. The information on this form is being collected by the Advancement Office at the University of Melbourne. You can contact us on +61 3 8344 1751. The information is being collected for the purpose of processing your gift and updating your contact details on the University’s relationship management database. The University may receive funds as an agent for affiliated colleges and semiautonomous bodies, in which case the tax receipt for the gift will be issued by the University for the relevant college or semi-autonomous body. You can access any personal information the University holds about you. The information will be used by authorised staff for the purpose for which it was collected and will be protected against unauthorised access and use. If the “Other” option is selected, the University will endeavour to direct your donation to your preferred area of support. Where an exact area does not exist, the University will carefully select the closest match. The University has a detailed Privacy Policy and you can contact the Privacy Officer (privacy-officer@unimelb.edu.au) with any question about how the University deals with personal information. See: www.unimelb.edu.au/unisec/privacy/

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Peter adds that: “The scholarship has provided Cynthia and I with a major head start to our university education. We no longer have to stress over university fees and prices of books. It has enabled us to focus solely on studying hard and getting the best results we can. I am so grateful for the scholarship, and want potential donors to know, any help is appreciated and really does go a long way to helping people like myself reach our potential.”

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our donors

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 also those who wish to remain anonymous – for their donations and support during 2013 and commitment to the future development of the Faculty: CHANCELLOR’S CIRCLE DONORS

Ian Loxton

Duncan Andrews and Jan Andrews

Laurie Cox AO and Julie Ann Cox

Thomas Hogg

Bryan Lukas

Margaret Abernethy and Alex Abernethy

Terry McMahon

Shin Khoon Ang

Patricia Cross

Clare Armstrong

Anne Miller

Aurora Aylward

Philip Crutchfield SC and Amy Crutchfield

Brian Horwood and Gillian Horwood

Fiona Adler and Ross Adler AC

Peter Meurer Edward Miller

Marnie Baker

Sue Cunningham and Howard Moore

Michael Baldwin

Duncan Andrews and Jan Andrews Angus Barker Trevor Bradley Graham Bull Anthony Burgess and Janine Burgess David Burnet and Betty Burnet

Stephanie Barr Anthea Barry

Rosemary Hume (née Johnson)

Anthony Di Pietro

Kim H Hwang

David and Vivien Dickson

Phillip Ingle

Suzanne Dixon Chris Dobb

Sarah Myer and Baillieu Myer AC

Steven Bashta Andrew Batsakis

Leo Dobes and Alice Dobes

Raymond Ng

Craig Bell

Neville Norman and Margaret Norman

Greg Doyle

Christian Bennett

Craig Drummond

Mark Chiba and Lisa Herrell Chiba

Tony Peake and Lyndal Peake

Paul Berger

Carol Dyer Adrian Fethers

Laurie Cox AO and Julie Ann Cox

Cate Pickett

Bruno Blosfelds and Denise Blosfelds

Stephen H Roberts Barry Saunders

Patrick Boland Simon Bolles

Peter Scott and Anna Scott

Phillip Bradley

John Sevior

Brendan Britten Roger C H Brookes

Craig Drummond

The Hon Jim Short and Jan Rothwell Short

Gan Eng Chee

Rodney Sims

Michael Gan and Angie Gan

Rohan Stanton

John Gandel AO and Pauline Gandel

Paul Wheelton OAM

Graham Bull

Ross Williams AM and Lynne Williams

Anthony Di Pietro Suzanne Dixon Leo Dobes and Alice Dobes

Richard Green and Isabella Green OAM Fred Grimwade and Alexandra Grimwade Rae Gunn and Peter Gunn AM

Trevor Bradley

Merran Kelsall Dane Kennedy Sarah Kirk

Fu Yun-Man

Paul Kofman and Guyonne Kalb

Gan Eng Chee

Youngmi Kwon

Michael T K and Angie Gan

Edmond K Lee Chris Leptos AM and Julia Trafford

Maureen Brunt AO

Glen M Gersch

Graeme and Phillipa Liebelt

Graeme Bryce

Estate of James Hugh Gibson

Dato’ Jimmy Lim Thaw Chay

Nick, Kate and Jack Bull

Lige Gong

Helen Lloyd

Anastasia Goulas

The Hon John Lloyd

Ashley Williams and Sarah Morgan

Anthony Burgess and Janine Burgess

Kerry Gracie-Watson

Leanne Loh

David Williamson

David Burnet and Betty Burnet

Richard and Isabella Green

Sheila Loudon

Jeffery Greenberg Timothy Greene

J S Loveridge and Pam Loveridge

Ronald J Griffin

Ian Loxton

Fred and Alexandra Grimwade

Mark D Lucas

Rae Gunn and Peter Gunn AM

Roderick Mainland

Howard Welsh

Kingston Wong

Leslie Campain and J M Campain Angela Carter and Colin Carter AM

Nick Zisis

Rose-Mary J Cassin

DONORS TO THE FACULTY 2013

Edmond Lee

Margaret Abernethy and Alex Abernethy

Chris Leptos AM and Julia Trafford

Fiona Adler and Ross Adler AC

Jun Li

John and Jacinta Agostinelli

Leanne Loh

Peter L Keet

James Gatehouse

Charles Young and Brooke Young

Graeme Liebelt and Phillipa Liebelt

Bhuchong Jansubbakich and Sansanee Jansubbakich

Kester Brown

Dean Ireland

Paul Kofman and Guyonne Kalb

Timothy Freer

Joe Isaac AO and Golda Isaac

Fiona Brown

Susan Yates and Peter Yates AM

Merran Kelsall

E R Forrest

Dean Ireland

John Gandel AO and Pauline Gandel

Brian Horwood and Gillian Horwood Joe Isaac AO and Golda Isaac

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Rupert Myer AM and Annabel Myer

Angus Barker

Ying Hou

Sue Cunningham and Howard Moore

Angela Carter and Colin Carter AM

Philip Crutchfield SC and Amy Crutchfield

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Elizabeth Morgan and Hugh Morgan AC

Steven Banks

Ian Hopkins

Ray Anderson Campbell Andrews

Siew Wong Chan John Chanter

Elena Hajis

Jun Li

Gilbert Loughman

Bryan Lukas Maria Makris

Jennifer Hamilton

Laurence and Natasha Mandie

Timothy Hammon

Stephen Mason OAM

Raymond Choo

Penelope Heard

K C Mawson OAM

T E Clarke

Geoff Hindle and Judith Hindle

Stephen May

Ye Cheng Mark Chiba and Lisa Herrell Chiba

Ivan Clyne The Hon Peter Collins AM QC

Stephen Hiscock

Donald McAllister and Maureen McAllister

Judy Hogg OAM

Marie McIlwain

excellence opportunity innovation Alan McKay and Frances McKay Angus McKay John McMahon Terry McMahon Peter Meurer Anne and Edward Miller Gordon Milne Kenneth Moncrieff Sarah Morgan Peter Morriss OAM Bruce Murray Baillieu Myer AC and Sarah Myer Rupert Myer AM and Annabel Myer Dennis Myler Ng Kam Luen Raymond Phuong Nguyen Jim Nikolareas Lila Avana Denove

Neville Norman and Margaret Norman Daniel Norman Philip Norman William Norton James Nott Brendan O’Brien Tom Orange Tony Peake and Lyndal Peake Lili Pechey Cate Pickett Julian Polic Douglas Poulter AM Joseph Prowse Vincent Rice Stephen H Roberts Emile Rochman Barry A E Saunders Peter and Anna Scott John Sevior The Hon Jim Short and Jan Rothwell Short

Rod Sims Graeme Sinclair Maurice Smith Paul Somerville Richard Southby John Spiers AM and June Spiers R L Stanton Selby Steele AM Keith Stockwell Andrew Tulloch Chris Warrell and Diana Warrell Allan B Waugh Geoffrey Webster Bruce Weeden Howard Welsh Janet West AM Jamie Westlake Paul Wheelton OAM Dinuka Wijetunga Murray Wilkinson Ashley Williams

Lynne Williams and Ross Williams AM David Williamson Kingston Wong Tat-Chuen Wong Alex Yakovlev Peter Yates AM and Susan Yates Brooke Young and Charles G Young Sigourney Young Nick Zisis We would also like to acknowledge 58 donors whose wish is to remain anonymous.

Bennelong Foundation

We would also like to thank and acknowledge the support of the following trusts and foundations: The Aranday Foundation

Rae and Peter Gunn Family Foundation

Bertalli Family Foundation Dawn Wade Foundation Drummond Foundation Gandel Philanthropy Jean and Howard Norman Trust Lord Mayors Charitable Fund The Myer Foundation P and S Bassat Family Charitable Foundation

Sports Administration and Development Ltd UBS Australia Foundation Yulgilbar Foundation

Remembering rich experiences on campus David Burnet graduated with a Bachelor of Commerce in 1947 and says his degree was the major factor in his very successful business career in Australia, Europe and the United States.

Awarded a Commonwealth Scholarship, which paid his fees and gave him an allowance, without it he wouldn’t have had the resources to attend university, as his father drowned at sea in 1944 after being held as a prisoner of war on the Burma Railway.

remembers Union House as a great place to meet and socialise.

During those three years he enjoyed the scope of the Commerce degree and the rich and varied extra curricula activity while studying at the University.

After 65 years David is still in touch with Bryan Haig (BCom 1948, MCom 1954), whose sister Betty he married in 1951, and Gordon Grant (BCom Hons 1949, BA 1953, DipPubAdmin 1955) who were amongst his closest friends at University.

He was also a member of the University Athletic Team and

Last year David and his wife Betty created the Burnet Family Access Scholarship because in David’s words: “I was the first in my family to attend university and without a scholarship,

31 I would not have been able to do my Commerce degree, which helped me to go on to have a very successful career in business in Australian and then internationally.”

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“I was Secretary for the Commerce Society and organised many hiking days in the Dandenong Ranges as well as several Commerce Balls at the St Kilda Town Hall.

David says his lecturers were outstanding. “Dr Jim Cairns on South East Asia and particularly Japan had a major influence on my future career, as I went on to have major business dealings with Japanese companies.”

vale: colin ferguson

PROFESSOR COLIN FERGUSON: A prolific

academic and a champion of the profession

By Geoff Burrows and Stewart Leech Professor Colin Brian Ferguson (1949-2014) passed away peacefully after a short illness in his native Warrnambool at the age of 64. Colin had an international reputation for work encompassing auditing, forensic accounting, and accounting information systems.

Raised in Warrnambool where he completed his secondary education at the Christian Brothers (now Emanuel) College, he commenced tertiary studies at what was then the Warrnambool Institute of Advanced Education (now Deakin University), graduating with a Diploma of Business Studies in 1971. This was the modest start to what turned out to be a brilliant academic career.

After working in the Melbourne office of Peat Marwick Mitchell & Co (now KPMG) in the early 1970s, he commenced teacher training and taught commercial subjects, including typing, for two years in state secondary schools before completing a Bachelor of Business degree at Swinburne University. A Master of Economics at the University of New England followed in 1980 and a Graduate Diploma of Computing at Deakin University in 1985.

The die was cast – Colin had entered the nexus of computing and accounting, a sub-discipline of accounting that has been described affectionately by more than one scholar as the “lunatic fringe”.

A gentle person who was always positive and could always see the best in people, he will be missed but never forgotten by all his academic and professional colleagues, friends and ex-students.

In the meantime, he had obtained a lectureship at Deakin where he completed his PhD in 1994, under the supervision of Professor Peter Wolnizer, who went on to become an eminent Dean of Business at the University of Sydney.

Colin’s interest in both accounting and computing was reflected in his choice of PhD topic – “An investigation of the effects of microcomputers on the work of professional accountants”. One of his examiners was Professor Ron Weber, an eminent professor at UQ in the field of information systems and accounting.

It was hardly a surprise when Colin was recruited by the University of Queensland (UQ) the following year.

Drawing on his PhD and with the stimulus of one of Australia’s leading departments in accounting and information systems at UQ, he commenced publishing prolifically in top-tier accounting and information systems journals, leading to a professorial appointment as Professor of Accounting Information Systems in 2001.

At UQ, he had the top echelon of professors with which to work, including Frank Finn, Ian Zimmer (whom he had known at Swinburne and Deakin in the 1970s), Paul Bowen, Fiona Rhode, Peter Green, and of course Ron Weber, to name but a few. At the same time, he maintained a close relationship with Deakin University, continuing to work with his close friend, Professor Graeme Wines, where he held an Honorary Professorship from 2003.

While happy in Queensland, Colin always maintained that he was an avowed “Victorian living in Queensland”. He said this once too often to Professor Stewart Leech at a meeting of the Institute of Chartered Accountants in Australia’s (ICAA) Education Board in Sydney in 2003, who promptly replied: “If we create a Chair of Business Information Systems at the University of Melbourne, will you move to Melbourne?”

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The chair was created and the move was made, despite some misgivings at the time from his wife Yvonne, who was also happy in Queensland.

At the University of Melbourne, Colin continued to publish regularly in top-ranking journals, facilitated by his outstanding success in gaining competitive linkage research grants (with industry partners) through the Australian Research Council.

To his Melbourne colleagues he was known as an excellent teacher, higherdegree supervisor, program director and mentor to junior staff. He played a major role in strengthening the ‘town and gown’ links of the University’s Department of Accounting and Business Information Systems (now Department of Accounting) through his Directorship of the Department’s Centre for Accounting and Industry Partnerships, his instrumental roles in the creation of the Australian Accounting Hall of Fame and the highly successful executive-in-residence program.

He served on a variety of University committees, including positions as Associate Dean (Research) and Associate Dean (Knowledge Transfer) in the Faculty of Economics and Commerce (now Business and Economics), as well as Deputy Head of the Department of Accounting.

Colin was always in demand to present his research at a wide range of seminar programs, symposia and conferences. He had a natural brilliance about him – often it was more about his research philosophy than the topic at hand – often frustrating a session chair to keep him on track! But his depth of knowledge and highly-tuned presentation skills always meant that the audience was entertained and rewarded.

At one academic conference, his co-author, who was to present the paper, was missing. Colin presented the research – no paper, no PPT slides, no notes (in fact it was doubtful if he had seen the paper for six months or so). The resulting oration held the audience in awe – it was no less than brilliant.

He served on a variety of committees of CPA Australia and the ICAA and was President of the Accounting and Finance Association of Australia and New Zealand from 2004 to 2005.

Colin’s death is an enormous loss to academia and the accounting profession.

A gentle person who was always positive and could always see the best in people, he will be missed but never forgotten by all his academic and professional colleagues, friends and ex-students.

All our sympathy is extended to Yvonne, and their children, Sam, Katherine, Joseph and Patrick, and to the wider Ferguson family.

alumni events

Upcoming Events

Reunions 15 October 2014 40+ Alumni Annual Reunion Luncheon Venue: South Room, University House at The Woodward Level 10, 185 Pelham Street, Carlton Time: 12 – 3pm

International Alumni Events November 2014 Annual Dean’s Dinners in China Beijing, Shanghai, Guangzhou and Hong Kong Venues and dates to be confirmed

Young Alumni Events 24 September 2014 Young Alumni Career Life-cycle event Venue: Dining Room, University House at The Woodward Level 10, 185 Pelham Street, Carlton Time: 6–8.30pm Please refer to the Faculty’s online events calendar for further details on all events as they become available: fbe.unimelb.edu.au/events

Public Lectures 6 August 2014 Corden Lecture 2014 Speaker: Professor Jaume Ventura, CREI, Barcelona GSE and Universitat Pompeu Fabra Venue: Copland Lecture Theatre, Basement, The Spot Building, 198 Berkeley Street, Carlton

YOUNG ALUMNI COMMERCE BALL REUNION 2014 Last year’s inaugural Commerce Ball Reunion for Young Alumni was a tremendous success. Over 240 alumni and friends enjoyed an event-packed evening at the Langham Ballroom with wonderful food and drinks, delightful entertainment and most importantly, fantastic company!

Following the success of the 2013 Reunion, the Business and Economics Young Alumni committee is pleased to announce that a bigger and better Commerce Ball Reunion will be held in October 2014. The Reunion this year will be doubled in size – accommodating up to 500 guests at the Crown Palladium Ballroom.

The 2014 Young Alumni Commerce Ball Reunion will feature: • Three-course dinner with free-flow drinks • Live DJ (DJ Phil Ross) • A bigger dance floor (less formalities and more dancing) • Two photobooths with plenty of fun props • Complimentary entry to the after party at Fusion Club at the Crown Entertainment Complex

17 September 2014 Finch Lecture 2014 Speaker: Professor Anat Admati, George G.C. Parker Professor of Finance and Economics, Stanford Graduate School of Business Venue: Copland Lecture Theatre, Basement, The Spot Building, 198 Berkeley Street, Carlton Time: 6.15pm

Time: 6.15pm

Venue: Copland Lecture Theatre, Basement, The Spot Building, 198 Berkeley Street, Carlton Time: 6.15pm

22 October 2014 Downing Lecture 2014 Speaker: Professor Bruno Crépon, Research, Centre de Recherche en Économie et Statistique (CREST) and Associate Professor at ENSAE and École Polytechnique Venue: Copland Lecture Theatre, Basement, The Spot Building, 198 Berkeley Street, Carlton Time: 6.15pm

Date: Friday

31 October 2014

Time: 7.30pm

pre-drinks for 8pm start

Venue: Crown

Palladium Ballroom, 8 Whiteman Street, Southbank Dress Code: Black-tie Price: $155

per person for group of five or $165 per person for individual tickets To secure tickets, please visit: http://bit.ly/ CommBallReunion2014Tickets

Other Events 21 August 2014 Melbourne Institute Public Economic Forums in Canberra Speakers: Professor Stephen King, Professor of Economics and CoDirector, Business Policy Forum, Monash University Professor Caron Beaton-Wells, Associate Dean, Melbourne Law Masters and Director of Studies, Competition and Consumer Law, The University of Melbourne Venue: The Canberra Room, Hyatt Hotel Canberra For further details about any Melbourne Institute events, please visit the Institute’s events page at www.go.unimelb.edu.au/t5tn or email melb-conf@unimelb.edu.au

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20 August 2014 Foenander Lecture 2014 Speaker: Ms Rosemary Kirkby, Principal, Rosemary Kirkby & Associates

This reunion offers Business and Economics Young Alumni (commencement year 1996 to 2013) the opportunity to escape from corporate life for a night, get dressed up and enjoy a fun-filled evening with friends and fellow graduates.

Professor James McCluskey Deputy Vice-Chancellor (Research)

THE FUTURE IS IN THE HANDS OF TODAY’S RESEARCHERS. The University of Melbourne has a clear strategic imperative to improve lives and contribute to solving the world’s most difficult problems. Our research is driven by three grand research challenges: to understand our place and purpose, to foster health and wellbeing, and to support sustainability and resilience – locally, nationally and internationally.

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Ultimately, the challenge we task our researchers with is an audacious one and is encapsulated in the question we constantly ask – who says we can’t change the world? Being Australia’s leading research university we expect to do nothing less.

I encourage you to embrace this vision and support our endeavours.

campaign.unimelb.edu.au