|FRANKLIN P. PERDUE SCHOOL OF BUSINESS|
|CONNECTING YOU TO THE FRANKLIN P. PERDUE SCHOOL OF BUSINESS||APRIL 2014|
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Summary of the SU Finance Studentsâ€™ Trip to NYC
By Drs. Leonard Arvi, E. Tylor Claggett and Ani Manakyan
The group departed the Perdue Chesapeake parking lot for New York City (NYC) aboard a chartered bus at about 6:10 a.m. on Thursday, April 3. All students, but one, expected to be on the trip were present. The group consisted of 35 students on the bus and two who came to NYC by other means. Three faculty members, all from the Perdue School accompanied the students â€“ Drs. Leonard Arvi, Tylor Claggett and Ani Manakyan.
We arrived at the Courtyard by Marriott Manhattan/Fifth Avenue at 3 E. 40th St. at about 11:30 a.m. After checking in and changing into more appropriate dress, the 35 students and the three faculty members walked to Grand Central Station. From there, after a brief ride on the subway, we walked to the New York Stock Exchange (NYSE) for a guided tour that included time on the trading floor and observation of the closing bell ceremony. Our host was James Byrne, senior vice president at NYSE. The other two students joined us at the NYSE. After leaving the NYSE, the group proceeded to the â€œbullâ€ for a group photograph. From there, all were free to enjoy NYC at their leisure.
On Friday morning (at 8:30 a.m.), 37 students plus professors traveled to J.P. Morgan at 277 Park Ave for a 9 a.m. appointment. Our regular annual host Ronald (Ron) G. McGann (SU â€™88) JP Morgan The Private Bank managing director, met us on the 17th floor in a spacious conference room with morning refreshments provided. He had arranged three different panel sessions with junior- (analyst), middle- (associate) and senior-level (managing/executive directors) JP Morgan employees. Each panel session was intended to give students an idea of how a career at JP Morgan progresses (opportunities, responsibilities, etc.). Everyone received several tangible and significant pieces of advice for searching for the first job and what the screening process is like at many top tier financial institutions. Our meeting ended after three hours and the lively question and answer sessions continued after that.
Friday afternoon saw the group split into two subgroups. Fourteen students and Dr. Claggett proceeded to the offices of SkyBridge Capital (a NYC hedge fund). Our host, Matthew Zuckerman, described his firmâ€™s origins, major clients, current activities and future plans plus coming challenges. He brought in a senior investment analyst and she explained in great detail some of the recent investment opportunities SkyBridge has explored. At the same time, 23 students and Drs. Arvi and Manakyan were taking part in a self-guided tour of the New York Federal Reserve Bank (Fed). Dr. Mark Flannery, visiting scholar at the Fed from the University of Florida and a member of the Federal Reserve Systemâ€™s Model Validation Council, gave a presentation to the students about the role of the Federal Reserve. He also discussed the Great Recession and explained the actions of the Fed, including stress testing of the banks. After these two events, everyone was again free to enjoy NYC.
Saturday was free time for the students with respect to site visits. At noon, our entire group departed the hotel and arrived at SUâ€™s Perdue Chesapeake parking lot about 5:15 p.m.
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