The “bold idea” was unveiled last night at an event in Perth attended by Bill Johnston, the Western Australian mining and petroleum minister.
“We are the leading province for capital internationally,” Johnston said.
“They are still the center of knowledge for the mining industry internationally.”
Johnston said the vision of the CFA Society Perth will support the WA government’s ambition for the state to be the global hub of capital.
“We have to take advantage of everything together,” he said.
Next year, CFA Society Perth will host a symposium focused on solving some of the key economic, political, social and environmental issues confronting the resource market, including climate change and ESG, for natural resources finance and investment practitioners.
In the meantime the market is looking for feedback.
Claire Mortoni, co-president of the CFA Society Perth, said With Western Australia’s wealth of natural resources and internationally acknowledged excellence in oil, resources and agriculture, Perth is the logical home for creating a center for financing natural resources and investment excellence.”
“CFA charterholders are known for adapting investment recommendations, risk assessment and accountability to a comprehensive, legal and knowledgeable methodology. In essence, exploiting these tools would bring tangible value to the sector of natural resources.”
Executive Vice President and Chief Financial Officer Sherry Duhe of Woodside Energy spoke at the event and said that while recruiting, she was attracted to CFA charterholders.
Ross Dinsdale, general manager, corporate and CFA board member of Myanmar Metals, said it will produce prospects for jobs.
“What we hope to see over time is that Perth’s global capital players are discovering their potential in the financial business,” he added.
“I feel this also offers an incentive for those working out of colleges and learners to see a concrete way ahead for them in today’s non-existent job sector.”
Dinsdale recognized that Perth was not a diversified finance center and that financial practitioners were typically exported to other cities.
Around 70 percent of the members of the CFA Society Perth function explicitly and indirectly in the resource business.