INVESTMENT MANAGEMENT: BUSINESS AREA
“It’s something people tend to go into later in their life, once
they have worked in the large banks. It requires a level of
judgement and experience and knowledge about the
marketplace you are working in” Hazel Moore, CFA, First Capital
DAVID PINNIGER, CFA
Title: Investment Manager –
industry has yet to be hard hit by the
International Biotechnology Trust
credit crunch. “Current market
Current employer: SV Life Sciences
Previous employers:
conditions haven’t materially changed
Morgan Stanley; Abingworth
the business. Price expectations have Management
come down, so there are expectation University:
gaps between buyers and sellers that
Lady Margaret Hall, Oxford University
have to be bridged, but the
Degrees: Bachelors in Human Sciences
fundamentals of companies needing
Professional qualifi cations: CFA
to expand and develop hasn’t’ really
changed,” says Hazel Moore, CFA,
What attracted you to this career path?
chairman and co-founder of First
I perceived working in the City to be exciting, stimulating, challenging, and of
Capital, the fundraising specialist
course was attracted to the possibility of earning a good salary.
company. Still, it is inevitable that as
deal fl ow slows down, so will the
What are the major challenges you face in your position?
private equity industry.
Making good absolute returns in the face of equity markets you can’t control is
challenging. The industry we invest in is relatively high risk but high returns
are possible, so another challenge is to balance these two to an optimal level.
OPPORTUNITIES
Moore believes private equity is a
Staying ahead of developments is also a key challenge.
diffi cult area for graduates to go into
Are there certain skills you would consider useful for your job?
without a little bit of experience. “It’s
Natural attributes required include intelligence, competitiveness, common
something people tend to go into
sense, initiative, honesty, stamina etc. On top of this you need to be
later in their life, once they have
comfortable with numbers, have excellent communication skills, an ability to
worked in the large banks. It requires
work well with others, to organise yourself and those around you to work
a level of judgement and experience
effi ciently and effectively, to assimilate and analyse large amounts of
and knowledge about the marketplace
information and to feel comfortable with uncertainty. It goes without saying
you are working in.”
you need to be truly interested in your area of specialisation.
Still, many large private equity
houses do take some graduates in,
How do you think the role you’re in now will change over time?
although graduates do not necessarily
The basic functions of the role will stay similar, but with greater experience
have to have a fi nancial background.
and seniority comes greater responsibility for colleagues and the long-term
If a manager is focused on the life
success of your business.
sciences sector, it may look to hire
people with scientifi c backgrounds. Do you have advice for someone intending to pursue the same career path?
Most managers say it is analytical Show enthusiasm and confi dence but not arrogance. You may think you’re
skill, and the ability to understand smart, but that’s just the beginning. Willingness to learn from others and a
what is relevant and what is not, that desire to constantly challenge yourself count for more. I’m learning that
they are looking for in their experience is everything.
graduates.
Cg
WWW.CFAUK.ORG CAREERS GUIDE 2009 25
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