Finance careers: Skills, paths, and real-world advice
Being a CFA® charterholder helped Grace Lee navigate the twists and turns of a diverse career to become Chief Operating Officer (COO) of one of China’s most successful VC firms. She explains what she’s learned, and what advice she has for the next generation.
A 20-year veteran of the venture capital world, Grace Lee has been at the center of the China venture capital industry’s changing fortunes since 2005. She’s witnessed significant change during this period including a recent resurgence that has seen China become the second largest global VC market after the US.
Lee is the Partner & Group COO of Qiming Venture Partners, one of China’s leading venture capital firms. She joined the firm in 2009, building its entire non-investment function from scratch including legal, finance, investor relations and human resources. Lee is also CEO of the Qiming Singapore office.
Her 20-year career has spanned a broad range of roles – from investment, portfolio management to fundraising and operations. Prior to joining Qiming, Lee worked in private equities and listed securities at fund management firms PAI Partners and JAFCO Asia.
Why multidisciplinary skills matter in investment careers
After graduating with a Bachelor of Business Administration degree from the Chinese University of Hong Kong, Lee’s career journey started out in accountancy, working for Arthur Andersen and qualifying as a chartered accountant, before moving into banking.
The Hong Kong investment banking industry was thriving at the time and, having done her research, it was clear that the CFA designation would give her CV the gravitas she was looking for. She passed her Level III CFA exam in 2008, at a time when there were fewer than 400 professionals in Hong Kong who had managed it. “I realized that becoming a CFA charterholder would enhance my profile and allow me to differentiate myself,” she says.
In the meantime, Lee added a Bachelor of Laws degree from the University of London to a growing CV. “I intentionally built my profile so that I speak all the commercial languages - accounting, finance and law,” she explains.
Lee is convinced that the credential played a huge role in helping her get a foot in the door of an industry notoriously difficult to break into.
An opportunity early on in her banking career to work on a private equity project presented itself. The quality of Lee’s contribution and her passion for the work did not go unnoticed. “The firm was coincidentally looking to hire an associate director for its principal investment unit and when they realized I had my CFA charter, together with my other qualifications plus the project I’d done for them, I got the internal transfer.”
Although many investment team members had degrees from Ivy League universities, they recognized the CFA Program as a very practical qualification for investment professionals, Lee says.
Because of my profile, and precisely because of my CFA qualification I got the job and successfully made the move from a traditional banker to an equity investor. That was a very critical moment, and it completely changed the path of my career.
Career advice for the next generation of finance professionals
Being a CFA charterholder holds prestige for those looking to forge a path in the investment industry. Against a backdrop of a booming APAC economy, demand for CFA charterholders in the region is continuing to rise, Lee says.
Today, Lee is a non-executive board member of CFA Society Hong Kong and helping to shape the CFA Institute Private Equity Certificate curriculum. “My early charter status together with my 20-year experience of the private asset industry means that I can contribute back to the CFA Society and membership in Hong Kong. And that’s something that’s very fulfilling”
Meanwhile, as a non-executive director of a government-subsidized high school in Hong Kong, and an active donor to various high schools and universities in Hong Kong and Singapore, mentoring and coaching the next generation of talent in the region has become a passion. Alongside her work with school-age children, Lee set up and now runs an annual summer internship program at Qiming Venture Partners. For more than a decade now, the program has given students at various stages of their education an insight into the realities of careers in the finance industry.
“I invite a lot of outside speakers; they’re successful individuals from different parts of the Hong Kong economy who talk about their professional experiences. It allows those planning their career to hear from people across all spheres of the industry and it opens their eyes, and I think that's quite impactful.”
For those keen to establish an investment career, Lee’s advice is always to consider the CFA Program as a foundation for success. “I always tell them, ‘Your first job doesn’t matter so much. Find something you’re passionate about but don't be too picky, give it your best, take time to get the CFA qualification on the side.’
At the same time, plug into the CFA community, so you can meet people from different backgrounds and learn about their profession, and get some good mentors to help you plan your career.
Lee’s other tip is to think global, whether that’s applying for university outside of Hong Kong, or doing an internship in another country. “If you don’t have the budget for overseas internship, there might be exchange programs at university that you could do. There are also so many things online that you can learn.”
And dream big, she urges. Don't think that having a less privileged background than your peers means that you can't achieve your dreams but be strategic in the way you approach your career progression. “The CFA Program helped me to fulfil my professional ambition. There is no such thing as luck, it’s all about preparation and grasping opportunity.”
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