Coffee Catch-Up Meet Tim Smith
Read excerpts from our Q&A below:
Hi Tim!
We’re delighted to have you here!
Let’s start by delving into your background and your journey to IAM. Could you provide an overview of your experience and how it has evolved throughout your career?
I always had a keen interest in Economics at school. It was one of my better HSC subjects, so it seemed logical to pursue an Economics degree at university, which I completed at Sydney Uni many moons ago! I decided to try and get a head start by combining study with work, which proved to be a daunting task at times. Starting within CBA’s Business Bank and then burning the midnight oil at JP Morgan clearing futures on derivatives night desk. Two very different propositions but valuable in their own right. As global markets imploded during the GFC, I pivoted into fixed income for the first time with FIIG Securities which was an exciting period for the evolution of our local bond market. After a seven-year stint at FIIG I took on a more senior role at BGC Partners, a NASDAQ listed global broking and real estate business and more recently I joined IAM as an Executive Director to help drive the Capital Markets division. Which has been by far and away the most rewarding and enjoyable chapter of my career.
Tell us about your current role at IAM and the types of clients you will be working with here in Sydney?
Historically my clients have always been investors. Having shifted into more of a DCM focus, they are now a mixture of investors and borrowers (issuers). My role is now primarily focused on helping the capital markets team source new debt transactions and then project managing the deal to the finish line with the guidance of our research, sales and legal teams.
One of the great aspects on my job is the diverse range of clients I deal with i.e. high net worths, family offices and some of the largest credit funds in the country. Every client offers something different and it’s not always about investing. There are plenty of colourful entrepreneurs out there that can teach you a thing or two about life outside of work and on a rare occasion if you’re lucky enough, you can find clients who become great mentors.
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Now, let’s dive deeper into your expertise and how you operate within the ever-changing financial markets
What are some of the common misconceptions you’ve come across in your experience regarding the debt market?
There’s always a high degree of subjectivity around evaluating risk. In the context of equity vs debt risk, I still see common misconceptions around debt risk in the context of bond and loan markets. Particularly when compared against listed equities and that’s a function of education and the considerably large head start the equities markets enjoyed over the fast-evolving sub institutional debt market here in Australia.
Do you have a personal investment mantra or any guiding principles or philosophies that inform your investment approach?
Like most Australians with a young family, outside of super my portfolio is largely residential property i.e. my mortgage. Never touched crypto but have had mixed results across a few small cap recommendations from stockbroker friends. I try to keep a small allocation to alternatives to keep things interesting, most recently taking a stake in a friend’s whiskey distillery in Tasmania.
Shifting gears a bit, we’d like to get to know you on a more personal level.
Sydney is renowned for its coastal beauty and vibrant lifestyle. What do you particularly enjoy about living here?
I recently moved to the northern beaches after living in the east for ten years. Beautiful beaches, lots of parks and young families out and about enjoying the suburban beaches lifestyle. This is what I grew up with and now I get the pleasure of reliving it with my young family.
I hear you enjoy spending time out on the water, which is sensational around Sydney’s pristine shores. Do you have a favourite boating spot you can share?
So many beautiful spots around the harbour but I’ve really enjoyed taking my 2yr old boy for a fish around Bantry Bay, Castle Rock Beach near Clontarf for a quick dip and we were lucky enough to see a few seals out on Pittwater at Barrenjoey head in Summer. That said its not always beer and skittles and I am still very much a rookie, the hardest part is convincing my friends and family they’re in good hands on the water!
