Investment Analyst, Investment Associate Programme

Company/ Firm Name



Published Date

3 April 2022

About the job:

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About the Partnership:

Veritas was established in 2003 with the central philosophy of protecting and growing the real purchasing power of clients’ capital over the long term.

Today, we manage c$35B for our clients across two primary franchises: Global and Asia. After being employee-owned since founding, we entered a partnership with Affiliated Managers Group in 2014 within the context of ensuring long term succession and sustainability of the Partnership.

We are client-centric and have a long track record of controlling growth (i.e., not asset gathering at the expense of our philosophy and process). We do not seek to be all things to all people and dilute our distinctive approach. We seek out clients who understand our philosophy and long-term orientation and have successfully built a diversified institutional/funds client base who partner with us to execute our process.

We invest our own capital alongside our clients and on the same terms. We cannot promise results, but we do promise alignment.

We currently have 45 staff with locations in London and Hong Kong.

For more information:

About the global investment team:

The Global investment team manages approx. $25bn in global public equities on behalf of our clients. We only invest in quality companies, and our deep due diligence process is commensurate with our patient, long term and concentrated approach. Our aim is to compound capital at attractive real returns over the medium to long term.

We are a small team of Investment Analysts with deep domain expertise in a number of key sectors (Tech, Healthcare, FS, Consumer & Industrials). Our flat structure enables greater agility and fosters team collaboration.

Working on our team is collaborative, dynamic and entrepreneurial. You’ll be given the room to explore new ideas and help from the entire team to bring them to fruition. From day one, you’ll have access to and partner with senior leaders, as you work on projects.

What you’ll be doing:

Our Associate Program follows a 1 - 2-year path during which you will be coached and mentored by top equity investment analysts in the industry. Following successful completion, our ambition is for you to continue to pursue your career with us as an Investment Analyst, although this will be contingent on performance.

During your programme, the plan is for you to complete 6-8 discrete projects with agreed deliverables, determined by the Global team on business strategic priorities at the time. Sample projects could include:

• Industry analysis: structure, market share, pricing strategies, cost structures

• Business analysis: “how does this business make money?” what is the source of competitive advantage and how durable is this?

• Financial analysis and valuation

• Primary research: speaking to industry participants, conducting surveys, visiting companies

Each project will be managed by a sponsoring Investment Analyst who will organise on-the job training to support your development, agree deliverables and provide ongoing support and coaching. At the end of the programme, you will have gained exposure to different sponsor Analysts and sectors.

In addition, you will be allocated an overall mentor who will coach and guide you throughout the duration of the programme to ensure you are receiving adequate support and a rich & learning experience. It goes without saying that be successful at Veritas, you must have integrity, creativity, an entrepreneurial spirit and the drive to always learn and bring value to our investors.

Background and experience:

• First and foremost, you must be passionate about starting a career journey in (equity) investing.

• You may have a top-class degree and 3-4 years’ experience in a blue chip, IB, consultancy, or audit firm but we are also willing to consider anyone who is passionate about investing, a clear thinker and distinctive.

• There is no specific type or profile of Investor at Veritas, we are bound by the same investment philosophy and our passion to serve our clients. We actively encourage applicants from all horizons. Our goal is to build a more diverse, inclusive, and accessible Firm.

You should have a robust “tool kit” of sufficient depth such that you can write well, undertake fact-based research / diligence, and importantly understand a set of accounts and build a financial model.

Sounds interesting, what’s next?

If you are still interested, please prepare the following information and send it via the Apply button to us at:

• Please provide a 1-page CV

• Please answer these 5 questions in less than 2 pages:

(1) What makes you distinctive vs the other candidates we are talking to?

(2) What achievement are you most proud of?

(3) What is your greatest failure so far?

(4) What is your biggest character flaw?

(5) What is your favourite investment book, and why?

Please provide us with a write up of a public market equity investment you believe is sufficiently compelling to commit client capital to. Please make sure to include an elevator pitch, and a 1-page model including key financial and valuation metrics you feel are important. No more than 3 pages please! 

Successful candidates will then be invited for an interview.

What we can offer:

We have an outstanding benefits package, which includes:

• Competitive salary and discretionary cash bonus

• Hybrid work

• Health insurance

• 25 days’ annual leave + bank holidays

• Generous pension provision

• Income protection

• Health and wellness benefits including gym subsidy, employee assistance programme and cycle to work scheme

• Life insurance

We partner with charitable organisations to make an impact in the communities where we live and work. Our people are encouraged to support the charities they feel most passionate about.

We are also committed to environmental, social and governance (ESG) investing. We serve our clients in this space as a trusted partner both on specific responsible investment product strategies as well as part of our commitment to deliver a superior investment experience.

People with disabilities: We want to give all our candidates the best opportunity to shine. If you need any adjustments to be made during the application and selection process, please send an e-mail to