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Economics & Finance

2017 Financial Management Association NY Trip

Summary of the Financial Management Association’s 2017 Trip to NYC

Salisbury University’s Financial Management Association (FMA) participated in their annual trip to New York City from March 29 to April 1. The group of twenty-six students departed Perdue Hall for New York City (NYC) at 5:00 PM on Wednesday, March 29, 2017, accompanied by Dr. Dan Ervin and faculty advisor Dr. Ani Mathers. As in years past, the trip was facilitated by a number of generous alumni in New York City who gave considerable amounts of their time to make the trip a success.                                                                                                  

On Thursday morning, we met up with Dean Christy Weer, who joined us for this year’s trip, before splitting up for two separate site visits. Half of the group went to visit SU class of ’96 alum Mr. Joe Dorrego, CFO of Fox Television. Students received a tour of the Fox News studios, gaining a behind-the-scenes look at the production of a major news network. The tour was followed by a presentation about Fox Television and the role of the CFO of a major corporation. The other half of the group went to meet SU class of ’09 alum Mr. Sean Carmody, Vice President in Capital Markets at Maxim Group LLC in their office in the Chrysler Building. Mr. Carmody arranged for the students to meet with senior executives from each of the major divisions of the investment bank, including capital markets, institutional sales, investment banking, and equity research. The students benefited from the wealth of experience that each of the seven speakers brought, learning a lot about careers within an investment bank.

On Thursday afternoon, we took the subway to the financial district where we broke for lunch. We reconvened at the famous Charging Bull sculpture, where we also had the opportunity to see the new Fearless Girl statue. The latter was recently installed by State Street Global Advisors to bring attention to the need for greater gender diversity in business. We continued to the New York Stock Exchange (NYSE) for a unique opportunity, as we had a 3 PM tour of the NYSE, which is not open to the general public. We were met at the NYSE by SU class of ’88 alum Mr. Ron McGann and SU class of ‘07 alum Ms. Jessica Froats. After learning about the history of the NYSE, Mr. Joseph Tama and Mr. James Byrne escorted us onto the trading floor. The students met with two designated market makers from Virtu Financial Capital Markets who explained their role on the trading floor. At 4 PM, we were there for the closing bell on the NYSE, which was rung by the retiring CEO of Honeywell, Mr. David Cote. While waiting for the closing bell, several students had the opportunity to speak to the President of the NYSE, Mr. Thomas Farley. After the closing bell, we toured the board room before dispersing for the evening.

On Friday morning, the group once again split in two for our morning visits. Half of the group walked to Société Générale. We were greeted by Ms. Sheena Dauro who gave us a brief tour of the trading floor. We were then introduced to SU class of ’95 alum Mr. John Fitzgerald. Mr. Fitzgerald gave an overview of Société Générale and spoke about his career since graduating from SU, providing advice for current students to follow. The other half of the group walked to Bloomberg for a tour of the building, an introduction to the Bloomberg terminals, and a discussion of various career paths within the firm.

On Friday afternoon, we walked to J.P. Morgan, where we once again met SU alum Mr. Ron McGann, Vice Chairman of J.P. Morgan Private Bank, who has been a great supporter of our trip over the years. We had the opportunity to hear from Mr. Stephen Parker, a frequent CNBC contributor, who is the head of thematic equity solutions for the Private Bank. We also had the opportunity to hear directly from a recruiter about tips to being hired at J.P. Morgan, and met SU class of ’07 alum Ms. Eva Ivacekova who spoke about her career path from SU to J.P. Morgan. We then hear from a panel of four analysts and associates, all of whom are recent graduates. They spoke about their jobs, the hours, and the importance of work ethic and networking. At the end of their discussion, Mr. McGann told the students about his career progression and gave them advice on goal setting and career development. Students had the opportunity to ask a number of questions throughout the afternoon and had a chance to network with Mr. McGann at the conclusion of the meeting. At the end of the day, students were allowed to explore the city and find dinner options on their own. We departed as a group on Saturday morning.

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