When to buy, page-49

Path to the top

Andrea Slattery’s career was built on boosting professional services, which makes her entry to the AMP board timely, on the eve of the royal commission report.

The report, while potentially important for the banks, is ultimately potentially game-changing for the likes of AMP, given its very business model is under attack.

Not surprisingly Slattery is maximum bullish on its future. Born and bred near the town of Warooka on South Australia’s Yorke Peninsula, her mother and father Arthur and Rosemary Murdoch taught her about entrepreneurship as they built a 12,000-acre property from 200 acres and hard work.

She boarded at what is now Annesley College in Adelaide, where she was a tennis and netball star and school captain.

She had four boys with her long time partner, South Australian District Court Judge Paul Slattery, and started her career designing men’s overcoats and shirts, where she learned the value of cash flow.

After the boys were born she returned to study at the University of South Australia, capitalising on her ability with numbers, resulting in accountancy qualifications and a subsequent master’s degree in commerce.

Part-time jobs were her staple until she was approached by then tax office deputy Mark Jackson to help the self-managed super fund sector in 2002, given it was under attack from the Howard government as being a non-compliant superannuation sector.

Along with co-founders Nick Aston, Peter Fry, Peter Nicholson and Brian Williams she was the full-time chief executive with a drive to build a profession from the sector.

This job developed from her background working as a tax adviser for second-tier accounting firms and sideline milestones like being the first female manager for an AFL player along with giving financial advice to other elite athletes.

Andrea Slattery. Picture: Adam Taylor

Work with the athletes was informative because they were highly focused individuals who were being taught wider skills.

Winemaker son Henry was a former Essendon footballer while the others are doctors and a lawyer.

Through her husband, who was in the Sir Anthony Mason chambers in Adelaide, she met the former High Court chief justice, who backed her ability to build a profession.

In her days as a university lecturer and tutor she pushed greater collaboration between academia and the private sector to give students more practical training.

The way she sees it she knows both sides of the street in Canberra from her SMSF days, having worked closely with former superannuation ministers from Bill Shorten to Chris Bowen to Scott Morrison and Josh Frydenberg.

She knows them and they her.

She won’t talk about the royal commission other than to say: “It’s a wonderful chance to build professionalism in the industry.”

While being a serial small business operator she has long aimed to be a director more than a hands-on business person.

Not bad for someone who left school not having a clue what she was going to do but with the knowledge she was good with numbers.

Another extract from The Australian - don't underestimate the quality AMP are bringing on board. If Hayne doesn't break up the business model and AMP is fixable...they're getting in people who will be able to fix it.