Roger CollisonBEc (Hons), MBA, SFFin, FGIA, FAICD
24 Fitzroy Street, Kirribilli 2061 Australia
PO Box 916 Milsons Pt 1565 Australia
Phone: +61 2 9955 3493 Mobile: +61 (0)431 663 468
Introduction:
Roger Collison’s professional career has included stints as a strategy consultant (McKinsey and Accenture), an investment banker (Credit Suisse) and as an equity portfolio manager (Tyndall). At Credit Suisse he led national and global research into building materials and basic materials industries in London and Sydney. At Tyndall he was Head of Research and a portfolio manager. He is now Chairman and Chief Investment Officer of DMX Corporation.
Key Capabilities:
- Highly experienced investment banker (14 years) with expertise in both the primary (IPOs, capital raisings, acquisitions, divestitures and reconstructions) and secondary markets
- Experienced in working alongside senior management and boards at some of the largest companies in Australia and Europe in developing and executing capital market strategies
- Proven leadership skills in a professional environment
- Outstanding abilities in accounting, corporate modelling, portfolio management and valuation
- Highly experienced in the assessment of corporate strategy and performance
- Detailed understanding of, and experience in, the institutional investment process from both the fund manager and broker perspective
- In depth capabilities of corporate valuation across a range of industries
- Extensive experience in managing people in different countries, and working with organisations and clients in multiple jurisdictions
Key Milestones:
- Head of Research and fund manager at Tyndall. At this ~$5bn investment fund he managed the research process with a team of eight analysts. He was a joint portfolio manager of a $1.4bn fund which achieved outperformance of 2.3% pa over his three years of management
- Top three ranking as a sector equity analyst for 12 years achieved in Europe and Australia
- #9 equity analyst in all sectors in all of Europe in 2005
Overview of Professional Employment History:
- DMX CorporationChairman
- Tyndall Head of Research and Portfolio Manager
- Credit SuisseDirector
- AccentureSenior consultant
- McKinsey & CoAssociate
DMX Corporation
ChairmanAugust 2012 – Current
DMX Corporation is a private equity investor with two investments – a start-up funds management enterprise (DMX Asset Management) and a mature, but small, chocolate manufacturing, retailing and wholesaling operation. Roger’s focus has been on assembling the right teams to takes the businesses forward. DMX Asset Management currently has $8m under management, despite operating for less than two years, and has achieved 76% outperformance over the first 22 months. Nina’s Chocolates has a turnover of $2m.
Nikko Asset Management (previously Tyndall)
Head of Research/Portfolio ManagerJune 2006 – November 2010
Nikko Asset Management is a $5bn Australian equity investment fund managing mainly superannuation money. The fund is ranked about #12 in terms of funds under management in Australia. Roger was the fund’s Head of Research with the largest team of research analysts in Australia covering ASX200 stocks.
Tyndall invests over a longer time frame (typically 3 – 5 years) with a “value” investment style. In addition to his research responsibilities, he was jointly responsible for managing a $1.4bn concentrated equity fund (CVA+). The CVA+ fund holds 15 – 25 stocks at any time. During Roger’s period of responsibility, the fund outperformed its benchmark by 2.3% pa adding almost $100m in additional value to client funds
Roger owned an 8% interest in Tyndall which was sold at the time of the Nikko takeover in November 2010.
Key achievements
- Initiated improvements to the valuation process
- Established stronger risk controls around investment bankruptcy
- Documented and made more robust the research and valuation processes
- Created a new investment selection and assessment tool
Credit Suisse
DirectorAugust 1993 – June 2006
Global head of Building MaterialsNovember 1999 – June 2006
Head of European Building MaterialsNovember 1999 – June 2006
Head of European Basic MaterialsAugust 2004 – June 2006
Head of European SteelMarch 2001 – September 2002
Head of Aust and NZ Building MaterialsAugust 1993 – November 1999
Roger was originally hired as an equity analyst covering building materials stocks, and in 1996 was promoted to a Director of the firm. At various times while working for the firm in Australia he also covered stocks in the diversified industrials, engineering, small cap, and tobacco sectors.
Roger moved to the London office in November 1999 and was initially responsible for the leadership and direction of the firm’s global heavy building materials research efforts and charged with the responsibility of leading the firm’s building materials team in all of Europe. For a period, he was also given responsibility to lead the European steel industry research. Towards the end of his time in Europe, he coordinated the European coverage of the chemicals, paper, mining, steel, and building materials research.
During his time at Credit Suisse he covered stocks in 13 counties and had employees directly reporting to him who covered stocks in additional 13 countries. He had clients in 25 countries most of whom were visited 2 or more times per year.
He had extensive involvement with several corporate transactions including: block trades, IPOs and corporate restructurings.
As a sector analyst, his job routinely required the assessment of others’ strategies and involved contact with the most senior management, chief executives and Boards of some of the world’s largest companies. He had direct and indirect responsibility for companies that are collectively worth approximately US$300Bn.
Awards
- Building materials - Extel 2004 (#1), 2005 (#3)
- Building materials - Institutional Investor (individual): 2002 (#3), 2003 (#1), 2004 (#1), 2005 (#1), 2006 (#2)
- Building materials - Institutional Investor (team): 2003 (#4), 2004 (#2), 2005 (#2), 2006 (#2)
- Steel – Institutional Investor 2001 (runner-up)
- Steel – Extel 2002 (#2)
- All European analysts - Sunday Times : 2005 (#9)
- Building materials – Sunday Times: 2005 (#1)
Accenture (previously Anderson Consulting)
Senior strategy consultantJanuary 1991 – August 1993
He worked on and led engagements in Australia, New Zealand, Fiji and Mauritius, and also worked in Singapore, Hong Kong, the UK and the USA. When he left the firm, it was the third largest strategy consulting practice in Australia.
McKinsey & Co
Summer AssociateNovember 1989 – February 1990
Strategy consulting whilst studying for his MBA
PriceWaterhouseCoopers (previously Price Waterhouse)
AccountantJanuary 1989 – February 1989
December 1987 – February 1988
December 1986 – February 1987
Professional Qualifications:
Grad. Dip. in Applied CorporateGovernance(2012)Governance Institute of Australia (GradDipACG)
Company Directors Course (2009)Australian Institute of Company Directors (GAICD)
Investment Management Workshop (2008)Harvard Business School
NYSE – Supervisory Analyst (1999)Financial Industry Regulatory Authority (SA)
Chartered Financial Analyst (1998)CFA Institute (CFA)
Master of Business Administration (1990)Australian Graduate School of Management, University of
New South Wales (MBA)
Graduate Diploma of Applied Finance (1990) Securities Institute of Australia (now Finsia) (GradDipAppFin)
Bachelor of Economics (Honours) (1988)University of Sydney (BEc Hons)
Affiliations:
Governance Institute of Australia –Fellow (FGIA)
Institute of Chartered Secretaries and Administrators (UK) – Fellow (FCIS)
Australian Institute of Company Directors – Fellow (FAICD)
CFA Institute – CFA Charter holder (CFA)
Financial Services Institute of Australia –Senior Fellow (SFFin)
Personal Profile:
He enjoys travel - having so far visited 72 countries and territories, reading, and outdoor pursuits including bushwalking and rock & mountain climbing.
He acted as a standard setter for the CFA Institute’s June 2010 and June 2011 level 1 and 2 exams and as an exam developer in March 2012.
He has leadership roles at several organisations. Current positions include: Anglican Church Property Trust (Trustee), Shore school (Councillor), Anglican National Super (Director), DMX Corporation (Non-executive Chairman) Waterford Retirement Village (Non-Executive Director). He has been Branch Secretary for the North Sydney branch of the Liberal Party, acted as a Mentor for Finsia, and as a panel member for the Association for Independent Schools. He also chairs a strata plan and has committee duties at most boards which primarily focus on finance functions.
He has done post graduate studies on equity valuation at the University of Nebraska, Omaha, the Ivey School of Business at the University of Western Ontario, and at the University of Columbia in New York.
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