Woolworths under pressure from Aldi
Marcus Bogdan, CIO Asia Pacific
Canaccord Genuity Asset Management
The Australian grocery industry is experiencing both structural and cyclical headwinds, making operating conditions for supermarkets particularly challenging. It is abundantly clear that the discounters, most particularly Aldi, have been far more successful in challenging the incumbents’ business models than anticipated. Aldi has not only offered lower prices but has provided groceries of similar, and at times better, quality than its competition. In some respects Woolworths has been a victim of its own success, where for a number years it successfully compounded its competitive advantage over its rivals. Arguably, this has led to Woolworths focusing excessively on its operating margin, paying insufficient attention to reinvesting back into its operations, and failing to solidify itself as the price leader in its industry. However, as Coles has clearly demonstrated, even the most-deep seated problems can be resolved with competent and focused management. Please click below to read the market commentary in our latest Quarterly.
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Marcus Bogdan is Chief Investment Office of Canaccord Genuity Asset Management, and joined the business in August 2013. Marcus has a diverse range of skills and 20 years of experience in the Financial Services Industry. He started his career as an Analyst at McIntosh Securities/Merrill Lynch where he covered the miscellaneous industrial sector as well as emerging companies. In Funds Management, he was a Portfolio Manager at Cooper Investors working on their Australian Equity Portfolio where he specialised in the Retail, Transport and Industrial sectors. In Wealth Management, Marcus has worked at Credit Suisse in International Equities and as Senior Vice President at Morgan Stanley where he advised High Net Worth clients and Family Offices.
Marcus is a graduate of the University of Melbourne holding degrees from the Arts, Business & Economics and Law faculties. Most recently, Marcus attained the University of Melbourne’s Law Masters Degree specialising in Securities Regulation and Corporate Law in Asia. Marcus is a Fellow of the Financial Services Institute of Australia and a graduate of the Australian Institute of Company Directors.
Marcus Bogdan, CIO Asia Pacific
Chief Investment Officer, Asia Pacific
Canaccord Genuity Asset Management
Marcus Bogdan is Chief Investment Office of Canaccord Genuity Asset Management, and joined the business in August 2013. Marcus has a diverse range of skills and 20 years of experience in the Financial Services Industry. He started his career as an...
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Marcus Bogdan, CIO Asia Pacific
Chief Investment Officer, Asia Pacific
Canaccord Genuity Asset Management
Marcus Bogdan is Chief Investment Office of Canaccord Genuity Asset Management, and joined the business in August 2013. Marcus has a diverse range of skills and 20 years of experience in the Financial Services Industry. He started his career as an...
Expertise
No areas of expertise
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