In honour of Mr Colin Brain, the Ferriscorp Group established the Colin Brain Governance Fellowship, an endowment for the QUT Business School. The gift encourages research and education in areas of corporate governance, business ethics, and integrity of the financial management of an organisation.
The Fellowship is awarded annually for study or research in corporate governance and/or business ethics including the financial management of organisations.
Recipients can be:
- PhD students
- QUT staff who have been given time off from normal duties to study
- visiting overseas scholars
- another aspirant deemed suitable by the panel.
An annual Colin Brain Prize is also awarded to an MBA student for outstanding performance in the study of corporate governance, business ethics, or the ethical or governance aspects of financial management of an organisation.
Colin Brain history
Colin Brain, FCA, ACIS was Chief Financial Officer of a group of electrical engineering companies and Company Secretary of a listed company in Sydney. He worked as an accountant with Price Waterhouse for 11 years and was involved with auditing a large number of small to medium enterprises and many of Australia's best known blue-chip companies.
During this period Colin became aware of the shortfalls in standards some organisations applied to their fiduciary responsibilities.
In 1972 he joined what was to become the Ferriscorp Group of Companies, based in Brisbane, and materially assisted in the Australian and international growth that followed. During his 35 years with Ferriscorp, Colin demonstrated that building and managing a successful international business can co-exist effectively with ethics and good corporate governance, even in a highly entrepreneurial and competitive environment.
Alarmed by the business excesses of the late 1980s and a plethora of corporate crashes (Bond Group; Enron; One-Tel; HIH for example), he was delighted that, on his retirement in April 2007, the Ferriscorp Group offered a donation to establish an endowment in his honour at QUT for the purposes of fiduciary business education.
Colin was convinced if the various management personnel of these organisations had learnt good financial management skills and applied the principles of good business-ethics, good governance would naturally have followed.
It was Colin's fervent wish on retirement to see solid education in good corporate governance, financial management and business ethics taught to future business leaders through the QUT Business School, and we have lived up to this honour.
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