Q&A with Future Generation's new CEO
Louise Walsh was all set to leave for an overseas post when she was offered the opportunity to head the Future Generation Investment Company. Louise tells Industry Moves why the offer was too good to refuse and how her previous roles had prepared her. She also tells us a little about two very impressive men and the influence they have had on her life and career.
Louise Walsh was all set to leave for an overseas post when she was offered the opportunity to head the Future Generation Investment Company. Louise tells Industry Moves why the offer was too good to refuse and how her previous roles had prepared her. She also tells us a little about two very impressive men and the influence they have had on her life and career.
What drew you to take up the role as CEO
Following my time as CEO of Philanthropy Australia. I was looking to take on a senior philanthropy role in the United States either late last year or early 2016. In the interim, I agreed to come on board as the CEO of Future Generation Global Investment Company (FGG) until we listed FGG in mid September last year. The fund manager Geoff Wilson from Wilson Asset Management is the brains behind FGG and also the Australian equities equivalent - Future Generation Investment Company (FGX). He recruited me to run FGG. In December last year, he persuaded me to drop the US search and take on the CEO role for FGX as well as continue as the CEO of FGG for the long term. I couldn't be happier in the role.
How have your previous roles prepared you for this one?
Early in my career I was a commercial lawyer at Allens, and I've found the legal background is useful at FGX and FGG. Also, I understand the non-profit and philanthropic sectors very well, which is where the bulk of my career has been focussed to date. So I suppose, I have the ideal background to develop and manage the charitable side of the business with 1% of the net assets of each company being donated each to charity - in the case of FGX, that's focussed on youth at risk with 14 selected non profits, and with FGG its focussed on addressing youth mental health issues with eight selected non profits
Who has had the biggest influence on your life/career and why?
There are two people not one in my case...in relation to my career. Firstly, my father Brian who passed away last month aged 84. He was the ultimate community man with an extensive list of board/committee and volunteering achievements on the south coast of NSW - anything from 50 years with the local Agricultural Show Society to 25 years as a volunteer with St Vincent de Paul Society. He was always fundraising for one cause or another including the local catholic church and our schools. The difference between my father's community career and mine is that he never was paid a cent for his tireless work! Secondly, the other stand out influence is David Gonski. David and I share a relentless passion for growing philanthropy or giving in this country. I was lucky enough to work with David when I was a 'baby' M&A lawyer at Allens and he weaved his magic to ensure two roles happened for me later in my career - becoming the founding director of Artsupport Australia in 2003 and also CEO of Philanthropy Australia in 2012. David is the absolute inspiration with my career and I'm sure our paths will continue to cross into the future.
What is the best advice you've ever been given?
'Whatever it takes to win'......can't remember if it was John Coates or Rod McGeoch who said it......from my time working on the Sydney 2000 Olympic Bid - I convinced Allens to send me on secondment to the Olympic Bid and it changed the course of my career dramatically.
What was your very first job?
My first job was a shop assistant at Sussan, the fashion store. I worked at Shellharbour Square Shopping Centre from age 16 on Thursday nights and Saturdays. Ironically, I'm now friendly with the owner of Sussan and Sportsgirl, the fabulous Naomi Milgrom from the Besen family.
Do you have a secret skill/hidden talent?
I'm not sure its particularly hidden or secret...but I'm incredibly competitive and determined. I love the arts and sports. I adore being around creative people.
Is there a particular charity or cause that you support?
That's a tough question for me with my background but I'm about to help fund a new scholarship at my old university college, Sancta Sophia College at the University of Sydney in honour of the Principal at my time there. I'm very fond of her still and I loved my time at the College. I'm also going to actively find three other funders to match my support for the scholarship. I'm also a very big fan of Primary Ethics NSW, which teaches ethics in primary schools in NSW. Finally, I'm about to start donating to the Stella Prize which honours Australia's best female authors.
