Working on Wall Street

$12,000 in prize money. Other competing schools included American university, Baruch College, florida State university, Lehigh university, new york university, and Penn State university.

VSB students earned special recognition from the judges for the quality and persuasiveness of their presentation. According to Lauren Lynch, “Our team emphasized connectivity; a modern style; access to arts and culture; and natural vegetation in our concept, creating a mixed-use destination that would transform Tysons Corner while providing a strong return to investors. It was an amazing learning experience for us to have the opportunity to pitch our vision for the project to such an impressive panel of real estate executives.”

The Challenge featured two rounds of presentations, with the four finalist teams emerging from the morning sessions after deliberations by the judges. following the student competition, the developer for the project, Aaron Georgelas of the Georgelas Group, explained the firm’s strategy for the project and answered questions from the participants.

“Encouraging tomorrow’s leaders and facilitating their professional growth is essential,” says michael Geoghegan PA ’11, vice chairman of CB Richard Ellis and member of the Daniel m. DiLella Center for Real Estate Advisory Council. “Villanova’s Real Estate Challenge provides the next generation of top industry professionals with a unique opportunity to experience the complexity and challenges of our business.”

The competition was made possible through the generosity of top firms within the real estate industry, including lead sponsorships from Delphi Affordable Housing Group, CB Richard Ellis, and Ernst & young. V

VSB Working on Wall Street

Adiverse group of VSB undergraduate and graduate students recently had the opportunity to connect classroom theory to realworld practice when they traveled to Manhattan for a first-hand education in working on Wall Street.

The day began with Masters of Science in Finance (MSF) students Jacqueline “Jackie” Peloquin VSB ’11 and Lauren Gallagher VSB ’12 network about careers in the financial participating in visits to services industry. Barclays Capital, where they took a guided tour of the equities trading floor, and to Bloomberg, where they had a behind-the-scenes look at the company’s operation and facilities. At each location the students heard valuable career advice from a panel of VSB alumni who work for the firms.

Later that afternoon, undergraduate and graduate students came together when the Villanova University Financial Club—comprised of alumni who work on Wall Street and provide support to VSB students through a summer internship initiative, networking events, and a mentoring program—hosted 110 students from various majors and disciplines at the Princeton Club of New York for its annual “Working on Wall Street” event. During the program, the group heard from a panel of 10 VSB graduates who work in various capacities on Wall Street.

The panel discussed the different types of jobs available in financial services and investment banking, what a typical work day is like, how trading companies go about recruiting new talent, tips on making résumés stand out, pointers for interviewing, new jobs created by regulatory reform, and strategies for pursuing advanced academic degrees.

The seminar was followed by a reception during which the students were able to engage in one-on-one time with almost 75 VSB alumni who work in various parts of the financial services industry. These conversations allow for invaluable networking with previous generations of successful alumni and Villanova University Financial Club members and lead to great opportunities for students as they begin to build their professional network.

Connecting Theory to Practice

“The purpose of learning theory is to help students become effective decision makers in practice,” says David Shaffer, PhD, chair of the Department of Finance. “This event not only exposes students to the realities of Wall Street, but also gives our alumni a glimpse into the high-quality Villanova students who are graduating

VSB Professors Nancy Heck, Mary Kelly, David Nawrocki, John Kozup, and Gunita Grover with SEC Commissioner Kathleen L. Casey (center). Moderator Michael S. Pagano, far left, with keynote speaker and panelists: Jamil M. Nazarali, Joseph Mecane, Kathleen L. Casey, Christopher R. Concannon, and Greg Tusar.

“High-speed traders can access equity markets in a way that creates a fair and reliable system for executing orders for all types of investors.” Industry Experts Analyze One of the Most Turbulent Days in Wall Street History

Less thAn A Week After A one-day drop of nearly 1,000 points on the new york Stock Exchange, more than 100 alumni, faculty, and students from the Villanova School of Business gathered in new york City to participate in a finance symposium titled “Current Issues in Competition and Regulation.” moderated by michael S. Pagano, PhD, the Robert j. and mary Ellen Darretta Endowed Chair in finance, the session featured a keynote speech by SEC Commissioner Kathleen L. Casey addressing the recent turmoil in the ongoing financial crisis.

In her remarks, Casey discussed how governments and regulators around the world are contemplating regulatory changes in order to reduce systemic risk and enhance the robustness and integrity of financial markets and institutions. She also detailed how the changing financial landscape will impact future prosperity of the u.S. and global economies.

Casey also stressed the need for the SEC to strike the appropriate balance between analysis and action so that economically relevant financial regulations can be implemented in a timely fashion. In particular, she pointed to the numerous comments from the financial industry and the academic world regarding the SEC’s recent Concept Release as being of great benefit to the commission as it moves forward with its regulatory agenda. She also advocated a greater need for more rigorous, objective empirical, and academic analysis of the costs and benefits of regulatory initiatives so that potential unintended consequences of any new regulation can be minimized. following Casey’s remarks, Pagano moderated a panel of financial services industry experts who analyzed key issues related to the current SEC Concept Release on u.S. market structure and other regulatory initiatives. The panel featured joseph mecane, executive vice-president and co-head of u.S. Cash and Listings, nySE Euronext; jamil nazarali, managing director and head of Electronic Trading, Knight Capital Group, Inc.; Christopher Concannon, partner,

Virtu financial; and Greg Tusar, managing director, head of u.S. Electronic Trading, the Goldman Sachs Group.

The panelists analyzed several market-related issues and provided their perspective on the recent financial chaos, including how high-frequency traders and algorithmic trading have affected the quality and efficiency of trading in u.S. financial markets. In addition, the panel discussed the efficacy of proposed rule changes related to how high-speed traders can access equity markets in a way that creates a fair and reliable system for executing orders for all types of investors.

“The depth of the panel allowed for lively debate involving buy- and sell-side perspectives alongside broker and regulatory perspectives,” says Robert Borland VSB ’01, a manager for GX Structured Products Operations at morgan Stanley. “The topics were extremely relevant to the current market environment, especially since the ‘flash crash’ had just occurred.”

In a timely discussion related to the “flash crash,” the panelists also discussed the role of a new “circuit breaker” rule and how traditional markets such as the new york Stock Exchange and the nASDAQ Stock market can maintain market integrity when a stock drops suddenly.

The panelists also considered the role “dark pools” of liquidity play in the u.S. financial markets; new regulations needed to enhance the quality of these markets; how both retail and institutional investors have fared over the past 15 years of regulatory and technological changes; the competitive landscape of u.S. markets and securities markets in Europe and Asia; and the regulatory framework that is necessary to keep u.S. markets competitive internationally over the next decade.—V

VSB Working on Wall Street – CONTINUED

with the most up-to-date thinking in business. It is this thinking that will ultimately help shape the direction of these businesses in the future.”

Connecting theory to practice was a clear message for attendee Kelley Bergsma VSB ’09, who is studying in the MSF program. “When a professor gives Michele-Olivier Marcoux MSF ’11 and Lee Sinkow MSF ’11 speak with Michael B. Malloy VSB ’89 from Deloitte a classroom lecture or and Touche. discusses trends in the financial world, it can be hard to see the real-world implications,” she says. “But when someone who has been successful in the financial world speaks, students really listen. I am constantly learning new perspectives from the wealth of knowledge our alumni are sharing.”

David Reynolds, a senior economics and finance major, says the best tip he gleaned from the panel was to be prepared. “When starting a career, solid preparation is critical, especially when networking,” he says. “If I keep working toward my goals, I will be ready when the opportunity eventually arrives.”

The Financial Club has a long history of connecting former VSB students with those currently on campus. Panel leader Chris Driscoll VSB ’93, president of the club and a Vice President at J.P. Morgan, notes that the relationship is symbiotic. “On the corporate level, we get to meet and recruit some of the best finance students from one of the best business schools in the country,” he says. “And on the other side, we get to help our young alums get a foothold in an extremely competitive field.”

Fellow panelist Stephanie Lamson Schaub VSB ’03, vice president of Merrill Edge Operations at Merrill Lynch, echoed those sentiments. “Helping current students is personal for me because I feel like I’m staying connected to the university, which is important,” she says. “I’ve had a great career and I want to help out wherever I can. I get a lot of pleasure seeing students succeed, receive opportunities, and secure jobs. Knowing that I’ve had a direct contribution to this process is very fulfilling.”

Shaffer says he was pleased with the record number of students at this year’s event, along with the continued invaluable support of VSB’s alumni. “The spirit of giving back and helping out is part of what it means to be a Villanovan,” he says. “The dedication of our alumni speaks volumes about their commitment to students, to VSB, and to the university. These alumni give generously of their time to help students prepare for a career on Wall Street in the midst of a difficult economy. It’s a very meaningful way to contribute.”