Thursday, March 19, 2009

Worth Noting....

Consortium schools Yale SOM and NYU-Stern were mentioned in a New York Times article Mar-15 about how prominent business schools are responding to the current financial crisis. (See "Is It Time to Retrain B-Schools?" by Kelley Holland.)

Top business schools are examining how best to address to the crisis and its impact in coursework. Some are reviewing and analyzing specific events such as the collapse of Lehman Brothers and Bear Stearns; others are revamping courses and writing new cases. Yale is in the process of writing new case studies. NYU professors prepared analyses of the crisis, which will be published in book form.

Bloomberg Markets columnist Matthew Lynn argues (in its April issue) that banks will need to reduce overall compensation for top bankers by 40-50% from past levels to reach what he called "sustainable long-term levels."

Sunday, March 15, 2009

Kick-off Event at the Federal Reserve Bank, New York

Over 160 people registered for and attended the CFN's kick-off event in New York City (Feb-26, 2009), which turned out to be a grand opportunity for Consortium alumni, friends and sponsors to meet, greet, connect, and trade stories and strategies about financial markets and careers.

Consortium students, alumni and friends from as far as Chicago, Texas, and Indiana attended.

Peter Aranda, Consortium CEO, shared updates on Consortium activities, programs and the Orientation Program (in June in Charlotte) and encouraged all to re-engage and get involved.

Panelists helped spur lively discussion on many topics -- from a possible recovery in the economy and markets this year to a general prognosis on careers in finance; from how financial markets might be restructured to how risk management might be a desirable career path.

The panelists (Theo Lubke from FRB-NY, JD Moore from CS, and Fatimah Gilliam from Citi) addressed audience questions on corporate finance, compensation, deal flow, diversity and finance-related hirings in 2009.

Jose' Marcos Calunga, Consortium student at Indiana, outlined goals and next steps for a mentorship program to be unveiled this spring. The program will help first-year Consortium students in finance.

Ken Alozie, Consortium alumnus from Michigan, had a chance to discuss and spread the word about his website venture

Rachel Delcau, Consortium student and alumni relations mgr., was instrumental in ironing out logistics and details for the event.

We outlined the primary objectives of CFN and urged guests to sign up for follow-up initiatives.

We are thankful to the Federal Reserve Bank of NY (Michael Embry and team) for sponsoring and hosting the event its in lower Manhattan headquarters. We hope to share video and photo summaries of the event soon.