Leaders in Investment Management, Anne Kuleshova – Senior Manager, QIC
How did you get your first position in the industry?
It is a bit of a cliché but I was a maths nerd and got good grades in high school. However, to my family’s disappointment, I didn’t go into medicine or law and instead chose Actuarial Studies at The University of Melbourne. I grew up in a poorer household, so I thought that by going into commerce, I could learn about how people make good investments and manage money. This field of study led to my first role in the industry.
Please give a brief overview of your career to date.
I have spent most of my career working in private markets. In 2007, I started at Macquarie Investment Banking division in the infrastructure team. I subsequently worked for Deloitte in M&A and most recently for JANA Investment Advisers. The role at JANA came up at a time when Australian superannuation funds were ramping up their co-investment programs and needed more ‘arms and legs’ to execute transactions, while they were building out their internal teams.
You worked with JANA for almost a decade, what kept you so engaged with the business over such a long period?
JANA has incredible people and a kind culture, and I am grateful for all the friendships I made there with colleagues and clients.
Personally, it was energising to work in an organisation where clients trust you and treat you as a member of their team, rather than just another service provider. There was also a huge sense of responsibility and connection in terms of doing the right thing by members and beneficiaries when making investment decisions.
Professionally, I had the privilege to work on large-scale and complex offshore and domestic transactions with some of the world’s most reputable infrastructure fund managers.
You have recently joined QIC as a Senior Manager. Can you provide an overview of your current position, what do you do on a daily basis?
My role is focused on supporting the management of co-investments and capital raising activities. Day-to-day this involves interfacing between clients and deal teams to facilitate investor due diligence and information flow on transactions. I am also involved in business development for QIC Infrastructure, which includes anything from negotiating governance and fund terms, to putting together presentations for potential clients.
What is unique about QIC’s business and their investment approach?
While I was at JANA, I saw how QIC operated and was attracted to working for them because of the high calibre of individuals and QIC’s disciplined and thoughtful investment approach. In addition, I believe QIC’s government heritage gives it an edge in terms of being able to secure and execute infrastructure transactions. This is a strong differentiator in terms of our reputation both domestically and offshore.
You are one of the founders of Women in Investments. Can you tell me more about this community and what are your plans for 2023?
My good friend Xing Zhang and I co-founded a professional network called “Women in Investments” in 2016. Its purpose is to promote diversity in the investment industry and to create a community to support each other personally and professionally. Today we have over 250 members and hold regular events in Melbourne (and occasionally Sydney). We have had some high-profile speakers over the years including Shemara Wikramanayake (CEO of Macquarie Group), Anna Shelley (CIO of AMP) and Fiona Trafford-Walker (Non-Executive Director).
In 2022, after two years of lockdowns in Victoria, we launched a Mentoring Program to support our members through career transitions. We were overwhelmed by the calibre of mentors generously offering their time, including several Non-Executive Directors, Investment Committee members of large Australian superannuation funds, and senior fund managers. A key focus for 2023, is to run the program again, as well as continuing to hold events showcasing some of the fabulous women and male champions of change in our industry who work in leading Australian super funds and fund managers.
During your career have you ever had a mentor? If so, how do you manage this relationship?
I was lucky to meet Claire Simpson, my boss at JANA, who is a beautiful human and a formidable investment professional. Claire is the kind of boss who is always in your corner, cheering for you to succeed. When I joined JANA in 2014, I was very ‘green’. Thanks to Claire’s coaching and support, I built up my capabilities and expertise to have the confidence to present to the Boards and Investment Committees of some of JANA’s largest clients. She has also been a rock during some not-so-great times in my life, and I will always be grateful for her friendship.
Outside of JANA, Lucy Liu, who is on the Advisory Board of Women in Investments, has been a confidante and a sounding board. I could not believe my luck when Lucy called me to invite me to apply for a role in her team at QIC.
What do you see as the main opportunities and challenges for investment markets in 2023?
The first decade of my career post Global Financial Crisis (“GFC”) was defined by low interest rates and a conducive investment environment. We are now seeing a rotation to higher interest rates and inflation. In unlisted markets, that means that some domestic clients are impacted by the Denominator Effect, limiting their deployment capacity. At the same time, the heat has come off the market and the current vintage of infrastructure investments should present some attractive buying opportunities for investors who have dry powder (i.e. cash to deploy). As always, investment discipline remains critical, given the uncertain investment outlook.
If you could give one piece of advice about developing a career within Investment Management Industry, what would it be?
When I reflect on my own lessons learnt early on in my career, I was focused on being an Excel ninja and building my technical expertise, which is an invaluable foundation skillset. Then mid-career, I realised I needed to work on my emotional intelligence (“EQ”) and develop relationships, rather than stay back in the office and do extra work. That has pushed me out of my comfort zone, enabled a huge amount of personal and professional learning, and led me to new career opportunities, such as joining QIC.
However, what I have learned in more recent years is that by not being afraid to put myself out there with clients, to share my knowledge, ask questions, be vulnerable, admit mistakes, and have a few laughs, has been the key to building genuine trust and relationships with clients and colleagues. Therefore, the most valuable and enduring piece of advice I would give is: push your boundaries and put your best effort forward and you will build a rewarding 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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