Two Finance Student Groups Visit NYC April 4-6, 2013

By E. Tylor Claggett, Professor of Finance & Ani Manakyan, Assistant Professor of Finance

 Practicum in Portfolio Management students attend G.A.M.E Forum in New York City

Thanks to a generous gift from the PNC Foundation supplemented by grants from BB&T corporation and the Perdue School, students in the Practicum in Portfolio Management class were able to attend the G.A.M.E. Forum in New York City April 4-6, 2013.  This outstanding experience further enhanced the experiential learning opportunities supported by the department and the Perdue School of Business.

SU Student Chapter of Financial Management Association (FMA) visits NYC Financial District 

 

The group consisting of two subgroups of students: 20 from the SU student chapter of the Financial Management Association (FMA) and 15 from the FINA 449 Practicum in Portfolio Management class, departed the Guerrieri University Center parking lot aboard a chartered bus at about 6:15 a.m. on Thursday, April 4. Three faculty members, all from the Perdue School accompanied the students: Drs. Claggett, Ervin and Manakyan.

Upon arrival in NYC, the FMA students (plus Drs. Claggett and Ervin) departed and walked to the New York City offices of Wells Fargo, while the FINA 449 students reconvened for the afternoon session of the Quinnipiac Global Asset Management Education (GAME) Forum.

The FMA students and professors proceeded to the fixed-income floor escorted by Chris Tracy (SU ’06). The discussion with Tracy about career planning, current market conditions and the general future economic outlook was informative and enjoyable. Everyone felt it was value received. We said “good-bye” to our host around 4 p.m., but only after exchanging business cards and contact information. The students were free for the rest of the day to enjoy the city.

From 1:15-2:45 p.m., Dr. Manakyan and the FINA 449 students attended a keynote panel on corporate governance. The panelists* discussed a variety of topics, including the need for disclosure, treating all shareholders equally, the cost of SOX compliance and the decline in the number of publicly listed companies in the United States. The final keynote panel** of the day was from 3-5 p.m. and concerned global markets. The panel discussed topics ranging from the stability of the EU system to the emerging middle class in China. The panelists noted that in looking for emerging markets in which to invest, they look for those with sustainable GDP growth based on more than just exports. They look for an emerging middle class and a government that is willing to invest in education and services to drive the middle class. After the final panel, students were free to explore the city for the evening.

On Friday morning, the FMA students (plus Drs. Claggett and Ervin) traveled to J.P. Morgan in downtown Manhattan for a 9 a.m. appointment, hosted by Catherine Wert. She talked with the students for 15-20 minutes about her duties, how she became a JPMorgan employee and about the general expectations related to professional positions within JPMorgan before introducing various guest speakers. These included junior analysts and a representative from the human resources (HR) department. The HR representative ended her formal remarks by giving several tangible and significant pieces of advice for searching for the first job and what the screening process is like at many first tier financial institutions. Our meeting ended with a lively question-and-answer session.

Friday afternoon was spent with a tour on the NASDAQ office site located on Times Square. Our host was Adam Messick (SU ’10). One highlight for everyone was seeing the Salisbury University logo up in lights on one of the giant screens at Times Square. We were present for the closing bell ceremony.

 

 

 

 

On Friday morning, for the FINA 449 students, the lead analysts coordinated the setup of the poster for the evening’s poster board competition. The GAME Forum resumed at 9 a.m. There were five sessions from 9 a.m.-4:30 p.m., with breaks for coffee and lunch in between. Each session had approximately 10 panel discussions, keynote addresses or workshops from which to choose. Students were free to register for and attend those panels that they found most interesting throughout the day. From 4:30-5:30 p.m., there was a networking reception and awards ceremony in which all of the competing student-managed investments funds displayed their posters.

The FINA 449 students were able to view the posters of many other teams and discuss unique aspects of each investment fund with the students from other teams. Salisbury University was well represented by the work of the lead analysts. Many professors and students from other universities stopped to view and discuss our poster.

For the FINA 449 students, the GAME forum continued at 9 a.m. on Saturday morning. There were two sessions on Saturday, lasting until 11:30 a.m. Once again, each session contained a number of presentations to choose from and Dr. Manakyan and the students split up to attend those panels that held the most interest for each of them before checking out of the hotel at noon and preparing for a 1 p.m. departure. In total, the GAME forum had more than 110 keynote speakers, panelists, workshop presenters and student-managed portfolio judges from more than 80 firms.

Saturday was free time for the FMA students with respect to sight-seeing. At 1:15 p.m., our entire group departed the hotel and returned to SU’s Guerrieri University Center parking lot by about 6:15 p.m

 

* The prestigious panelists were Al Angrisani, a turnaround specialist and current president, vice chairman and chief executive officer of Harris Interactive; Edward Knight, J.D., executive vice president, general counsel and chief regulator officer of the NASDAQ OMX Group; John D. Rogers, CFA, president and chief executive officer of the CFA Institute; and Irwin D. Simon, founder, chief executive officer, and chairman of the board of Hain Celestial Group.

** The panelists were Guy Adami, managing director of Drakon Capital and Fast Money contributor; Abby Joseph Cohen, CFA, senior investment strategist and president of Goldman Sachs Global Markets Institute; Jeffrey N. Kleintop, CFA, chief market strategist at LPL Financial; and Bob H. McCooey Jr., senior vice president of new listings and the Capital Markets Group at the NASDAQ OMX Group.

 

 

 

 

Two Finance Student Groups Visit NYC March 29-31, 2012

 

 

Practicum in Portfolio Management students attend

G.A.M.E Forum in New York City

 

Thanks to a generous gift from the PNC Foundation, students in the Practicum in Portfolio Management class were able to attend the G.A.M.E. Forum in New York City March 29-31, 2012.  This outstanding experience further enhanced the experiential learning opportunities supported by the department and the Perdue School of Business.  During this event, students had a chance to hear from high profile practitioners like David Darst, Guy Adami, Abby Joseph Cohen, Bob Froehlich, Tobias Levkovich, Joseph Terranova, Liz Ann Sonders, among others.

 

SU Student Chapter of Financial Management Association (FMA)

visits NYC Financial District

 

 

The group departed the Guerrieri University Center parking lot at about 6:15 AM on Thursday, March 29, 2011.  Twenty-nine FMA students and twenty Practicum in Portfolio Management students, accompanied by three faculty members, Drs. Claggett, Ervin and Manakyan, shared a chartered bus for the trip.  We arrived at the NYC Sheraton Towers in Manhattan at about 11:30 AM.

 

 

 

 

 

 

 

 

After changing into more appropriate attire  The Practicum in Portfolio Management students attended the keynote sessions of the G.A.M.E. forum while the FMA students (plus Drs. Claggett and Ervin) departed and walked to the New York Stock Exchange on Wall Street and Broad.  The students and professors proceeded to go on a “Wall Street” walking tour at 1:30 PM.  The tour was informative and enjoyable with stops at many famous and not so famous sites in lower Manhattan.  Our tour guide was knowledgeable and humorous.  Everyone felt it was value received.  We said “good-bye” to our tour guide around 4:00 PM and the students were free for the rest of the day to enjoy the city.

On Friday morning, while the G.A.M.E. Forum participants attended breakout sessions, the FMA students (plus Drs. Claggett and Ervin) traveled to J.P. Morgan in Downtown, Manhattan for a 9:00 AM appointment.  The group was met by Ronald (Ron) G. McGann, Managing Director, JP Morgan, The Private Bank.  He is an alumnus of SU, class of 1988.  Mr. Mc Gann spent some time explaining the evolution of what is now J.P. Morgan-Chase.   He also recounted some of the ways he was able to continue his career with J.P. Morgan.  Furthermore, he arranged for two junior JP Morgan Analysts to speak to the students as well as two representatives from JP Morgan’s University Recruiting office.

 Mr. McGann inspired students by telling them about how best to prepare for a career in the wealth management and investment banking sectors.  He went on to say to be successful on Wall Street, young people must work very hard and take advantage of their strengths.  He ended his formal remarks by giving several tangible and significant pieces of advice for searching for the first job, what the screening process is like at many first tier financial institutions and how best to manage a young financial professional’s early career.  Our meeting ended with a lively question and answer session.

Friday afternoon and Saturday were free time for the FMA students, who took advantage of the opportunity with some shopping, visiting museums and taking in the sights.  Saturday morning program at the G.A.M.E forum was focused on career planning sessions, which the Practicum students found quite helpful.  After the conclusion of sessions and lunch in the city, our group departed the hotel around 2:30 pm for the long trip back to Salisbury.

 

 

 

 

 

 

FMA Student Chapter visits NYC (March 25, 2010)

 

 

The group departed the Guerrieri University Center parking lot aboard a chartered bus at about 6:00 AM on Thursday, March 25, 2010.  The group consisted of approximately 25 students and two faculty members (Drs. Claggett and Ervin); all of the PSB.  We arrived at the Downtown Marriot in Manhattan at about 10:45 AM.  After checking into two changing rooms and changing into more appropriate dress, everyone (plus Drs. Claggett and Ervin) departed and walked to the New York Stock Exchange on Wall Street and Broad.  The students and professors proceeded through NYSE security and were given a quick over view of the current operation from the balcony overlooking the traditional trading floor.  Then, the group was divided into four smaller groups for a tour of the trading floor itself.  The tour guides were very knowledgeable and one of the features enjoyed by each smaller group was a discussion with an actual market maker (specialist) on the trading floor.

 

On Friday morning (at 8:00 AM), the group (plus Drs. Claggett and Ervin) traveled to J.P. Morgan in Downtown Manhattan for a 9:00 AM appointment. The group was met by Ronald G. McGann (Ron) Managing Director, JP Morgan, The Private Bank.  He is an alumnus of SU, class of 1988.  Mr. Mc Gann spent considerable time explaining the way J.P. Morgan reacted to and benefited during the current financial crisis.  He inspired students by telling them about his own career and he told them that to be successful on Wall Street, young people must work very hard and take advantage of their strengths. 

Later that afternoon, (approximately 2:00 PM), students (plus Drs. Claggett and Ervin) toured the Museum of American Finance at 48 Wall Street, New York, NY 10005. Friday afternoon and Saturday were free time with respect to sight visits.  Students did some shopping, visited museums and saw the sights.  At 11:00 AM, our group departed the hotel and returned to SU’s Guerrieri University Center parking lot about 4:15 PM.

 

 

FMA travels to NYC (March 26, 2009)

Contributed by Alyssa Price, FMA President  

On March 26 at 4:45 a.m. 43 students from the business school along with Dr. Dustin Chambers and Dr. Danny Ervin boarded a bus heading for New York City. Planned by Rebekah Maclean-Blevins, the students were privileged to visit three amazing sites during the two-night stay in the Big Apple.

The first visit was to the Museum of American Finance where we were able to see the newest exhibit, a wall-length graph detailing the cause and effect events of the recent financial crisis. The second visit allowed 30 lucky students to go five stories below NYC inside the vault in the Federal Reserve Bank where approximately $170 billion dollars in gold bars are held. Also, at the Federal Reserve, there is an exhibit documenting the change of money throughout time and in center display was the rare 1933 Double Eagle coin worth over $7 million dollars.

The final visit was to Société Générale where John Fitzgerald, Class of 1995, showed us the ins and outs of the French banking firm he is now employed at in the Human Resources Department. After listening to several speakers from various divisions within the company, we were given a tour of the trading floors and saw many crowded desks with anywhere from two to nine computer screens stacked on top of each other.

During free time in between the three site visits students were given a chance to roam the streets of NYC attending shows, shopping and having a good time. All 43 exhausted students and two teachers returned safely on Saturday evening. The trip was organized by the Financial Management Association (FMA).

 

 

 

FMA Student Chapter visits NYC (March 2008)

Contributed by Alyssa Price, FMA President

 

 

On March 26 at 4:45 a.m. 43 students from the business school along with Dr. Dustin Chambers and Dr. Danny Ervin boarded a bus heading for New York City. Planned by Rebekah Maclean-Blevins, the students were privileged to visit three amazing sites during the two-night stay in the Big Apple.

 

The first visit was to the Museum of American Finance where we were able to see the newest exhibit, a wall-length graph detailing the cause and effect events of the recent financial crisis. The second visit allowed 30 lucky students to go five stories below NYC inside the vault in the Federal Reserve Bank where approximately $170 billion dollars in gold bars are held. Also, at the Federal Reserve, there is an exhibit documenting the change of money throughout time and in center display was the rare 1933 Double Eagle coin worth over $7 million dollars.

 

The final visit was to Société Générale where John Fitzgerald, Class of 1995, showed us the ins and outs of the French banking firm he is now employed at in the Human Resources Department. After listening to several speakers from various divisions within the company, we were given a tour of the trading floors and saw many crowded desks with anywhere from two to nine computer screens stacked on top of each other.

 

During free time in between the three site visits students were given a chance to roam the streets of NYC attending shows, shopping and having a good time. All 43 exhausted students and two teachers returned safely on Saturday evening. The trip was organized by the Financial Management Association (FMA).

 

 

FMA Student Chapter visits NYC (March 2007)

 

The group departed the Guerrieri University Center parking lot aboard a chartered bus at about 6:30 AM on Thursday, March 29, 2007.  All students expected to be on the trip were present.  The group consisted of approximately 36 students (two of whom drove to NYC because of an early, sports related, commitment on Saturday) and two faculty members (Drs. Shetty and Claggett); all of the PSB.  We arrived at the Holiday Inn SoHo Hotel - Manhattan at Lafayette Avenue and Howard street at about 12:00 noon.  After checking into several rooms and changing into more appropriate dress, a group of approximately 25 students (plus Drs. Shetty and Claggett) departed and walked to the New York Stock Exchange (NYSE).  At about 2:00 PM, we entered the security process and proceeded to enter the building at about 3:00 PM.  We were met and hosted by Mr. Murray Teitelbaum (212-656-2017), the NYSE Director of Education, once inside the NYSE .  He led us to one of the many conference rooms within the NYSE.  He proceeded to give us a very insightful discussion about the history of the NYSE and most notably, the recent events leading up to the purchase and subsequent “for profit” status of the NYSE.  Then we were able to view stock trading from the balcony.

 

On Friday morning (at 6:30 AM), our group (approximately 25 students plus Drs. Shetty and Claggett) traveled to the New York Board of Trade (NYBOT) via the NYC subway system.  After proceeding through security, we entered the building and were greeted by our host.  She explained many of the functions and purposes of the NYBOT.  While there, students were allowed to actually go onto the trading floor in small groups and talk to traders as they were conducting trading business.  Coffee and other agricultural markets were particularly active.

 

Later that same morning (approximately 10:15 AM), another group of students plus Drs. Shetty and Claggett walked to the Federal Reserve Bank of New York.   Again, after completing a rather lengthy security check, we were greeted by several guides.  The group was lead to a classroom and given a 45 minute overview of the FED’s role and purpose plus a video of the currency operations at the nearby East Rockford Operations Center (EROC).  Finally, students were shown the gold vault (after a lecture about the vault’s features) which is in the basement of the Federal Reserve Bank of New York.  Marina Rivilis was one of our hosts.

 

Friday afternoon and Saturday were free time with respect to sight visits.  Students did some shopping, visited museums and saw the sights.  At 2:00 PM, our group departed the hotel and returned to SU’s Guerrieri University Center parking lot about 7:30 PM.

 

 

FMA Student Chapter visits NYC (March 2006)

 

 

The group consisting of  40 students and three faculty members (Drs. Manakyan, Ervin and Claggett) departed the Guerrieri University Center parking lot aboard a chartered bus at about 6:00 AM on Thursday, March 30, 2006.  We arrived at the Sheraton Hotel - Manhattan at about 12:00 noon.  After checking into several rooms and changing into more appropriate dress, a group of 25 students (plus Dr. Claggett) visited the Bank of America Securities Office of New York.  The visit included a 45 minute open discussion with three relatively new Bank of America employees about what it takes to get a corporate job and then to be successful at Bank of America, followed by a tour of the trading floors within the building.  The tour guide explained the Bank trades for large clients (such as pension funds, etc.) as well as its separate accounts.

 

On Friday morning (at 8:00 AM), a  group of  25 students plus Drs. Ervin and Claggett traveled to the New York Board of Trade (NYBOT) via the NYC subway system.  At the same time, a second group of  15 students traveled (also via subway) with Dr. Manakyan to attend the Investments Symposium at St. John’s University’s Manhattan campus.  The symposium was held all day and consisted of many well respected speakers that addressed the students from many schools and universities besides SU. 

While at the NYBOT, students were allowed to actually go onto the trading floor in small groups and talk to traders as they were conducting trading business.  Oil and other energy markets as well as several precious metals markets were particularly active as prices were increasing strongly during our visit.

 

After visiting NYBOT, the same group of students plus Dr. Claggett visited the New York Stock Exchange.  After getting through rather tight security measures, we were able to enter the Board room and meet with the NYSE Director of Education, Mr. Murray TeitelbaumHe proceeded to give us a very insightful discussion about the history of the NYSE and most notably, the recent events leading up to the purchase and subsequent “for profit” status of the NYSE.  Then we were able to view stock trading from the balcony.  Again, we had a very good host, Ms. Florrie Matesic, and she provided significant insight into NYSE recent history and current activities.

 

Saturday was a free day with respect to site visits.  Students did some shopping, visited museums and saw the sights.  At 5:00 PM, our group departed the hotel and returned to SU’s Guerrieri University Center parking lot about 10:20 PM.

 

 

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