Chairman’s Message

I hope you enjoyed a great holiday season, and 2014 was a fulfilling year for your career.  It is the halfway point of CFA Chicago’s fiscal period, which makes a good time for us to review the strategic themes we established in July; and also to tell you about changes underway and upcoming events.

From the staff direction viewpoint, Shannon Curley, CFA, joined us in mid-December as Executive Director of CFA Chicago.  He brings a wealth of financial services knowledge to our organization.  In addition, he has had a distinguished career in the investment management profession.  I encourage you to introduce yourself to him at an upcoming event.

With respect to creating original content for our members, I want to highlight the Career Management Advisory Group’s work.  In particular, Co-Chairs Joan Rockey, CFA, and John Mirante, CFA, and their talented group, have undertaken a long-term project called “Career Map.”  This is an ambitious idea with multiple stages.  Importantly, it is designed to outline the industry jobs and career opportunities in our Chicago market.  Given the mature nature of domestic asset management, creating a taxonomy of companies, industries/asset classes and newly evolving job assignments will have multiple uses, including assisting you in navigating and maximizing your investment career.  More information will be shared as the project develops.  We welcome CFA Chicago members that are interested in participating in this project with the Career Management Group Advisory Group. Sign up today.

Another team pursuing a big agenda is our Education Advisory Group.  Under the direction of Marie Winters, CFA, and Larry Cook, CFA, we will host a Latin American Investment conference this May.  As you know the global nature of our profession warrants our continual search to learn, grow and seek evolving investment opportunities.  I hope you are able to attend this unique, mid-west opportunity to expand your acumen of countries, industries and companies in South America.  I view this single event in the context of a longer term portfolio of seminars which CFA Chicago will pursue over the next decade.

I would be remiss if I didn’t mention CFA Institute’s upcoming first Annual Women in Investment Management Conference in San Antonio, June 2015.  Our society has been at the vanguard of advancing women in finance and has made demonstrable progress in this effort. CFA Chicago Vice Chair, Kerry Jordan, CFA, has been instrumental in this endeavor. Among those speaking at the conference will be CFA Chicago Past Chairman Heather Brilliant, CFA, and CFA Chicago Secretary/Treasurer Carmen Heredia-Lopez, CFA.

Lastly, let me acknowledge our Immediate past Chair Gautam Dhingra, CFA, and his wisdom in leading our Governance & Nominating committee.  The work of our Governance & Nominating group is vitally important, and in great hands as we build a future team of leaders.  If you know someone that would make a great leader – or if you’re interested in serving, please review the nomination process and selection criteria and complete the nomination form. To be considered for the 2014-2015 Board of Directors, complete the nomination form before 5:00 p.m. Wed., Jan. 14, 2014.

Chairman’s Message: Society Update

Let me begin with a thank you to CFA Chicago’s Governance & Nominating Committee for entrusting me with the role of Chairman.  It’s a distinct honor to lead the oldest Investment Analyst Society in the world.  Positioning our 89-year-old brand for the future, delivering relevant and cutting-edge programming, and enhancing member value are our top priorities.

As our board and officer volunteers change annually, I have worked extensively with our Vice Chair Kerry Jordan, CFA, to create a long-term vision for our enterprise.  Kerry and I are just back from a CFA Institute Society Leaders Conference in London where best practices and future opportunities for our profession were exchanged.  The key takeaways from London for me are:  the U.S. asset management business is very dynamic and mature, and globalization remains apace at an increasing rate.

With respect to international financial services and investing, the five newest Societies in the CFA Institute family are Qatar, Norway, Peru, Lichtenstein, and East Africa.  And while the U.S. base of Charterholders remains the core membership, the candidate population and growth rates in international markets are much higher, and more diverse, than in the United States.

As I write this, the Chinese e-commerce firm Alibaba’s IPO is set to price this evening.  On a market cap basis, four of the top 10 internet companies will be based in Asia, up from two in 2004.  One of my London partners said this is evidence of “China’s capitalistic system writ large.” We are an international profession and we must continue to think globally.

Our Society is positioned quite well with 4,300 members, talented volunteers, dedicated staff, and because of thoughtful stewardship, strong financial resources. Resting on our laurels, however, is not what Kerry and I and the board can or will do.  As the 6th largest and original Society, we must be strategic about our industryand what role Chicago’s financial services community and professionals will play as we move toward our 90th year and beyond.  Thankfully, our leadership team and board are embracing the challenges we face in this dynamic environment.

Lastly, let me express great appreciation for an outstanding membership.  Your time, energy, ideas, and ethical practices are the most valuable asset we have.  Please get involved, stay committed, and then recruit a fellow professional to take your place in the future.  I hope to see you at our annual dinner in October.