Senior Analyst – Equity Research (TMT) – Vice President/Executive Director - Australia

As a Senior Analyst in Equity Research, you will serve as a joint lead on a defined Technology, Media & Telecommunications (TMT) coverage universe within the Australian market, working collaboratively alongside existing TMT team members to deliver a cohesive, high-conviction franchise. You will co-own the investment thesis and share responsibility for modeling, forecasts, valuation, and written research, acting as a primary voice to clients and internal stakeholders across Sales & Trading. Partnering closely with your fellow analysts, you will help set and uphold the team's standards for analytical rigor, compliance, and high-quality written product, bringing authoritative fluency in the sub-sector dynamics that drive TMT valuations (software/SaaS, internet & online marketplaces, IT services, hardware/semiconductors, telecom carriers, data centres, media & entertainment).

Co-develop and defend the investment thesis, ratings, and price targets across the shared TMT coverage; contribute a differentiated view while aligning with fellow team members on the collective franchise position. Build and co-own detailed company financial models, forecasts, and valuation work for TMT names (e.g., trading comparables, precedent metrics where applicable, DCF/SOTP, and sector-specific frameworks such as EV/Sales, EV/EBITDA, rule-of-40, LTV/CAC, and per-subscriber/per-tower/per-MW valuations where relevant). Monitor and analyze earnings, guidance, filings, corporate actions, spectrum/regulatory developments, and key news flow across the ASX-listed TMT universe and relevant global peers; translate developments into decisive estimate and thesis updates in coordination with the team. Author flagship research publications including earnings previews/recaps, company updates, thematic/industry pieces (e.g., generative AI adoption, cloud migration, digital advertising cycles, 5G/fibre monetisation, data-centre capex), and initiations/deep dives, collaborating on jointly authored product where appropriate. Drive fundamental analysis of TMT business models, unit economics and KPIs (ARR/NRR, churn, ARPU, subscriber net adds, take rates, gross margin per unit, capex intensity, data-centre utilisation/PUE), competitive positioning, and industry structure to identify catalysts and risks. Share client-facing activities including calls, meetings, marketing roadshows, and conferences; respond authoritatively to institutional client inquiries with clear, compliant communication. Build and manage relationships with corporate management teams and coordinate with internal partners (Sales, Trading, Corporate Access, and other stakeholders) to ensure research insights are delivered effectively and on schedule. Establish and enforce controls around model governance, documentation of assumptions, and versioning; ensure accuracy and auditability of outputs, maintaining consistency across the shared coverage. Mentor, develop, and review work from junior team members; work with fellow leads to set execution discipline around key deliverables, especially during earnings and AGM/reporting season. Required Qualifications, Capabilities, and Skills Extensive experience in equity research and/or a related analytical role (e.g., investing, IB, corporate finance) with a demonstrated track record of owning coverage, published ratings, and differentiated written analysis, ideally with TMT sector exposure. Advanced financial statement analysis skills (income statement, balance sheet, cash flow; accounting and disclosure interpretation), including facility with TMT-specific accounting nuances (capitalised software/R&D, deferred revenue and RPO, lease treatment for towers/infrastructure, stock-based compensation). Proven ability to build and maintain robust, flexible models and to articulate key drivers, sensitivities, and non-consensus views with conviction. Excellent writing skills with a track record of producing clear, investment-relevant