Leaders In Funds Management: Brett Jollie, Managing Director, Aberdeen Asset Management
Brief overview of Brett Jollie’s career to date:
After completing my degree in 1993, jobs were quite scarce as I had timed my graduation to coincide with the “recession we had to have” (Paul Keating). This was a challenging time for the Australian economy, and for my job opportunities! Many months passed but I was finally rewarded with a job at Permanent Trustee.
After 3 years at Permanent Trustee I moved to Chase Manhattan Bank where I was responsible for managing a team of fund accountants in Chase’s Global Services (master custody) division.
I spent nearly 3 years at Chase where I learnt a great deal about the custody industry and the operational workings of our superannuation and fund management clients – knowledge which I still draw on today. However, in 1999 I decided I was ready to join the fund management industry and when an Operations Manager position became available at a small boutique fund manager by the name of EquitiLink I leapt at the chance.
Within 12 months EquitLink was acquired by a company unknown to me at the time called Aberdeen Asset Management, and I’m obviously still there today.
I am fortunate to have worked in a range of roles across the business at Aberdeen. After starting as the Head of Operations, opportunities arose to move into product management and then into sales and marketing. And in 2004 when someone was required to assist in the integration of a newly acquired business in the UK (Edinburgh Funds Management) I was offered this role. This provided me with a wonderful opportunity to live and work in the UK, living in Edinburgh but regularly commuting to other offices around the UK and Europe. My wife and 3 little boys relocated to Edinburgh with me, and we loved it!
In 2007 I moved back to Australia soon after Aberdeen had acquired Deutsche Asset Management (Aust) and soon found myself back in an operations role, as chief operating officer (COO), when the incumbent returned to the UK. Within 2 years I was offered the role of Managing Director for the Australian business, shortly after the acquisition and integration of Credit Suisse Asset Management.
How did you get your first position in the industry?
It wasn’t easy! After graduating from university in 1993 I fully expected to walk straight into a job. After all, I had a degree, who wouldn’t want me? Wasn’t I wrong!
I really struggled to find a graduate role and frustratingly I was advised on numerous occasions that I was “too qualified” for many non-graduate jobs.
I eventually landed a role at Permanent Trustee as a Cashflow Officer. Now I can tell you, you don’t get much lower than a Cashflow Officer. My early tasks involved reconciling the internal ledgers of our trustee clients to their respective bank account statements. Exciting stuff! I still remember spending 6 hours looking for 20 cents because the ledgers didn’t reconcile! Madness! Common sense would dictate that amounts such as this would be written off as immaterial. However, I had a job, I had a career path in the financial services industry and I was wrapped!
Your LinkedIn profile indicates you have been with Aberdeen for 16 years, but your journey has involved many acquisitions / mergers (Permanent Trustee, Chase Manhattan Bank, EquitiLink Asset Management) which have provided some great opportunities. Have you taken an active approach to your career, or has it been a case of right person, right place, and right time?
A combination of both…throughout my career I have actively sought roles where I felt I could make a contribution and be challenged at the same time. I’ve also been fortunate to have joined a company like Aberdeen which has provided me with the opportunity to move into new roles, including overseas postings. The corporate acquisitions I’ve been a part of over the years have created new opportunities for anyone willing to challenge themselves, and I’ve certainly been active in keeping abreast of these opportunities.
I’ve also worked very hard. After obtaining my economics degree I went on to complete a Graduate Diploma in Applied Finance & Investment from FINSIA, and then a Graduate Diploma in Financial Planning, also from FINSIA. But academic studies alone are not sufficient. I’ve worked hard at building my knowledge of everything around me, including how all parts of our business, and the wider industry, operates. This knowledge has helped me move into new roles over the course of my career, and it was the breadth of my experience across the funds management industry which contributed to my appointment as managing director of Aberdeen’s Australian business.
What’s your approach to attracting and retaining professionals at Aberdeen?
We work hard to be seen as an employer of choice. To achieve this we need to create a positive work environment to ensure staff are motivated to work to their optimal potential. Aberdeen has a unique, collaborative culture and we attribute this to our success not only in growing our business but in attracting and retaining the best employees.
More specifically, we want our staff to feel part of the business, to feel engaged, and to understand the role that their contribution plays in its success. In order to feel motivated, it’s vital that staff are kept informed and receive regular updates on the business. Communication is key. Our open plan office and flat management structure makes for easier communication and efficient decision-making.
I believe it’s also important that people enjoy their job, enjoy working with the people around them, and have a bit of fun. We spend a lot of time at work so it helps to be happy while we’re there!
What are your main goals and challenges at Aberdeen?
- To maintain a positive work environment and keep staff motivated and engaged. Without a positive work force we cannot achieve our other business goals. Take care of your staff and the rest should take care of itself.
- To ensure we continue to provide a high quality service to our clients.
What do you believe are the attributes of a successful leader?
- Have a plan!
- Respect others and treat everyone with dignity.
- Honesty and integrity are two essential values for anyone – especially those in a leadership position.
- Be accountable.
- Delegate. One of the most important skills…trust those you work with. For this to succeed you must identify the strengths (and weaknesses) of your staff. This empowers your staff and helps builds respect. Delegating will allow you to achieve more, reduce stress levels, etc.
- Strong interpersonal skills. Communicate regularly and ensure you actively listen to others. Ensure you make yourself accessible to staff. This will allow you to better understand business issues whilst allowing you to build relationships with your staff.
- Create a positive work environment.
You are a director of the Financial Services Council. What does your position involve?
The Financial Services Council (FSC), the industry body that represents the funds management industry, is very important to our business. Not only does it provide us with a voice in the formation of policy and the subsequent engagement with government and regulators, it is also responsible for setting a wide range of industry best practice standards, standards which all FSC members are required to comply with. These standards and accompanying guidance notes ensure that FSC members adhere to a single set of policies covering a wide range of topics. The consistency of application of these standards helps create confidence in our industry and ensures there is accountability in the event a member fails to comply.
As a director of the FSC I am required to represent the interests of our members and our clients in the upkeep of these standards and the ongoing development of policy.
You are also actively involved with FINSIA and have volunteered for their mentor program</a>; what motivated you to participate?
I chose to join this program out of desire to help others coming through the industry. Sharing my experience with mentees can be very rewarding for both parties and it’s a nice diversion from the day to day pressures of my job.
If you could give one piece of advice about developing a career within funds management what would it be?
The most important piece of advice I can offer is to strive to work to the best of your ability at everything you do. This positive attitude is very important for anyone looking to progress in the industry, and is something I look for in all new (and existing) employees. There are a lot of very intelligent people in our industry. However, many of them will fail to progress because they don’t have the right work ethic. This doesn’t mean they have to work long hours (working hard does not mean working long), instead it means volunteering to help others when they may be struggling, or accepting work that may be seen as menial or boring without complaint. Or it could simply mean getting a job done with no fuss, and doing it well. This “can-do” attitude will endear you to your work colleagues and should help propel your career.
Kaizen Recruitment specialises financial services recruitment across funds management, wealth management, superannuation, investment consulting and insurance. We are based in Melbourne and Sydney. For assistance or further information please telephone our office at +61 3 9095 7157 or submit an online form.
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