Lee Smales

Dr, BSc (Hons), MSc, MBA, PhD, CFA

  • The University of Western Australia (M250), 35 Stirling Highway,

    6009 Perth


  • Source: Scopus
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Personal profile


Lee joined UWA in 2018 as an Associate Professor (Finance) within the Accounting & Finance discipline. Previously, Lee has held appointments at Curtin University, Curtin Graduate School of Business, and University of New South Wales (where he completed his PhD in finance). Lee is also a Chartered Financial Analyst (CFA) Charterholder, and is a Board member of the CFA Society of Perth.

Prior to his academic career, Lee spent 8-years trading foreign-exchange and interest rate derivatives with Citigroup. His research interests are closely aligned with this prior career and focus on financial markets, particularly the market response to news-events and the impact of prevailing sentiment and microstructure on this reaction.

Lee has published in a number of leading journals including the Journal of Banking & Finance, Journal of Financial Research, International Review of Finance, Pacific-Basin Finance Journal, International Review of Financial Analysis, Journal of Futures Markets, and the Journal of International Financial Markets, Institutions, and Money. Lee has also provided expert commentary to TV, radio, and print media in addition to opinion pieces for The Conversation.


  • Financial markets
  • Investments 
  • Market microstructure
  • Behavioural finance
  • News sentiment
  • Political risk
  • Safe-havens
  • Commodity markets

Current projects

  • Spreading the fear: Contagion of the investor fear index among G7 countries
  • Gold and geopolitical risk (with D. Baur, UWA, Australia)
  • How does investor sentiment shape the liquidity response to monetary policy announcements in precious metal markets? (with B. Lucey, Trinity College Dublin, Ireland)
  • Do item writing best practices improve multiple choice questions for University students? (with F. Bertoni, Emlyon, France; B. Trent, CFA Institute, USA; and G VdeVenter, UTS, Australia)

Education/Academic qualification

Finance, PhD, University of New South Wales


Award Date: 30 Jun 2013

Business Administration, MBA, University of New South Wales


Award Date: 30 Jun 2009

International Banking & Financial Studies, MSc, University of Southampton


Award Date: 30 Jun 2000

Mathematics, Operational Research, Statistics & Economics, BSc (Hons), University of Warwick


Award Date: 30 Jun 1998

External positions

Board Member (Perth Society), Chartered Financial Analyst (CFA) Institute


Associate Professor, Curtin University


Exam Development Consultant, Chartered Financial Analyst (CFA) Institute

2016 → …

Senior Lecturer, Curtin University


Associate Lecturer, University of New South Wales


Vice President, Citigroup


Industry keywords

  • Finance and Business

Research expertise keywords

  • Financial Markets
  • Behavioural finance
  • Market Microstructure
  • Investments
  • Macroeconomics
  • Event studies
  • Sentiment
  • Financial economics
  • Futures markets
  • Political risk
  • Commodity Markets


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