Alumni to Know
Fared Adib, '11 (XP-80), vice president, product development, Sprint Nextel Copr., carried the Olympic torch on part of the route from St. Andrews to Edinburgh, Scotland, on June 14, jogging past throngs of cheering spectators. The torch-carrying can be seen on a YouTube video.
Europe can avoid the financial chaos that the United States experienced after the Lehman Brothers, Inc. collapse by employing financial reforms like the ones the United States has put in place, urged Roger Altman, '69, in a Washington Post op-ed piece quoted by Moneynews on June 5. "Europe is on the verge of financial chaos," Altman wrote in the Post. "Global capital markets, now the most powerful force on earth, are rapidly losing confidence in the financial coherence of the 17-nation Eurozone. A market implosion there, like that triggered by the Lehman Brothers collapse in 2008, may not be far off." Altman recommended a European version of the Troubled Asset Relief Program that would include "a larger and instantly available sovereign rescue fund that could temporarily finance Spain, Italy, or others if those nations lose access to financing markets," Altman said.
In a June 1 Post article, the Eurozone was mentioned as a potential topic at the secretive Bilderberg conference this year. Altman also was mentioned in the article as a financier who attended the Bilderberg gathering. Altman is the former deputy U.S. Treasury secretary and founder of Evercore Partners, Inc.
Entrepreneur Jacqueline Baptist, '02, is helping to make a documentary about the ups and downs encountered by women entrepreneurs, She Means Business. "Women entrepreneurs face more challenges than their male counterparts in their journeys toward business success, especially with regard to raising capital," Baptist said in a June 14 PRWeb article picked up by the Albany (New York) TimesUnion. Baptist is serving as executive producer.
Colin Camerer, MBA '79, PhD '81, was named as a shining example of a student who was able to get into an MBA program at a relatively young age. He was 20, while most candidates for MBA programs are 27 or 28, said a June 13 BrightNetwork blog post in the UK. Today Camerer is an economics professor.
Cleve Carney, '66, is giving more than $1 million in money and artwork to the College of DuPage in Glen Ellyn, Illinois, said a June 30 Chicago Tribune article. With the funding, to be made available after Carney's passing, the Cleve Carney Art Space will be established within the McAninch Art Center, the article said.
Singapore is facing a major housing oversupply, said Wai-Keung Cheng, '73, managing director and chairman of the board of Wing Tai Holdings Ltd. In a June 8 article on H88.com.sg, Cheng also warns of overcorrections to the market
Intervale Capital, LLC is approaching investors to close on its second fund for a potential $375 million, according to a June 8 Dow Jones/LBO Wire article. This shows the popularity of Intervale's strategy to invest in oilfield services companies, the article said. Charles Cherington, '92, is cofounder and managing partner of Intervale.
Charles Doyle, '96 (XP-65), a Sandler training consultant, joined with Rotary Club International to sponsor a sales training day for business owners that also raised money for Rotary's Eradicate Polio program. The six-hour event was slated to occur on June 11 in San Ramon, California.
The Emerging Leaders Class of 2010 has recommended that a $10 million philanthropic venture fund be established to support innovative projects that aim to help Chicago Public School students improve in science, technology, engineering, and math skills. The so-called ELP Ventures fund is described in an Emerging Leaders Perspective report, "ELP Ventures: Supporting Innovation in Public Education for Chicago's Global Future." Joshua Paul Fairbank, '06 (XP-75), partner in Orchard Venture Partners and member of the Emerging Leaders Class, was among those slated to discuss the report at a Chicago Council meeting on June 19
Paula Fasseas, '96 (XP-65), has been named as a Chicago Tribune "Remarkable Woman" for her work with animals. Fasseas founded PAWS, Chicago's largest no-kill animal shelter. PAWS started as an advocacy agency in 1997 but soon began to offer adoptions and spay and neuter programs to fill the need, the article said. It adopts out about 5,000 dogs and cats a year and sends about 600 a year into foster care, the Tribune said. Fasseas switched from bank development work to animal welfare because of her daughter. "She had volunteered at a traditional humane society and was shocked when she saw that animals were being killed," Fasseas told the Tribune.
Japanese bank Mizuho Bank, Ltd. wants to participate in American deals and has just the man to represent it: William Getz, '93, managing director and head of the bank's US acquisition finance group. Mizuho served as joint bookrunner in the $7.2 billion leveraged buyout of Samson Investment Co. last fall, according to The Deal Magazine, which published a profile of Getz on May 25. Getz said that the Tokyo-based bank passes on deals where it would be unwilling to risk its own money, and stakes a good chunk of LBO credit on deals it joins in. "We want to make the case that investors are aware we stand by the credits that we underwrite; we never sell down to a zero hold," Getz said in the magazine article.
Ki Myong Hong, AB '79, MBA '81, holds positive expectations for asset management in Asia. Hong is head of Asia Pacific for Pacific Investment Management Co., also known as Pimco. The future of asset management in Asia "is underpinned by strong economic growth potential relative to the developed markets; there's a great deal of individual wealth that is building up in the region in the retail and high-net-worth levels," Hong told the Wall Street Journal in a June 17 article. "On the whole, Asia has had a saver's mentality, and this will evolve over time into an investor mentality. It has also been a bank-dominated market and as that relaxes the financial and capital markets will move from early stages of development. Although the region as a whole lacks regulatory development, it will soon become priority subject matter for all local asset-management companies."
Kenton Klaus, '87 has received the 2012 Outstanding Leadership in Advancing Diversity Award from the Illinois CPA Society. Klaus, partner, global employer services for New York - based Deloitte Tax LLP, has sought to bring individuals with disabilities into the profession, said a June 13 PRNewswire-USNewswire article.
Maged Latif, '02 managing director, global co-head of financial institutions advisory, London - based HSBC Group, was quoted in the Financial Times May 29 "World Views" column. "FIG M and A activity continues to evolve, dominated by clean-up and portfolio-reshaping divestitures by banks and to some extent insurers, mainly in Europe," Latif said. "The ongoing financial crisis, coupled with material regulatory change, is sharpening CEOs' focus on business scope, strategic fit, and economic returns on allocated capital. There is also a trend to increasing the share of capital deployed in home markets, and a near-universal aversion to transformational mergers due to significant regulatory hurdles."
3M Co. is buying FSTech, the electronic tolling business of Federal Signal Corp., according to published reports. The deal is expected to be completed by year's end, 3M said. "I think the price and growth expectations right now are a little bit more realistic than they were over the last year or two," said David Meline, '86, 3M CFO, at an investor conference. He was quoted in a June 21 Reuters article about the 3M purchase.
Alana Muller, '98, president of Kauffman FastTrac, has written several guest posts as a Forbes columnist. In one dated June 18 she discusses the importance of having a proper entrepreneurial ecosystem. "If you are a would-be entrepreneur considering a new company, here's an important tip: Wherever you choose to locate your firm, make sure there is an entrepreneurial ecosystem in place to support your efforts," Muller said. She added that "no company has ever succeeded without the backing of a solid support network." This includes partners, peers, mentors, advisors, friends, and customers, she wrote.
A new data center in London is being created. It is being funded by a partnership consisting of Apollo Global Real Estate and Glebe Asset Management Ltd., said a June 7 Business Wire article published in the New York Times. "We are thrilled to have partnered with Glebe Asset Management on the acquisition and refurbishment of this facility," said Roger Orf, MBA '77, JD '79, managing director and head of Apollo Global Real Estate Europe. "We believe there is simply no better location for a world-class data center than in Central London in close proximity to the world's leading businesses. The future prospects for this center are extremely encouraging as local businesses' data requirements continue to expand."
Manny Roman, '87, is credited with bringing his friend Luke Ellis out of retirement and into a position at Man Group, where Roman is chief operating officer. In a June 6 story about Ellis in The Telegraph, Roman is described as "widely regarded as the power behind the throne and not a person people find it easy to say no to." Roman worked for 17 years at Goldman Sachs, before becoming a partner at GLG Partners, Inc., which became a wholly-owned subsidiary of Man in 2010.
George Sauter, '80, is retiring at year's end as chief investment officer of The Vanguard Group, Inc., where he has worked since 1987. The mutual fund firm is based in Valley Forge, Pennsylvania. "I have been here 25 years and I have done about as much as I can do," Sauter told Bloomberg in a June 27 article. He said he may decide to teach at a university or go back to school for a master's in mathematics.
Traditional economic cycles no longer hold sway but are being disrupted, Diane Swonk, '89, said in a keynote to the DuPage County Regional Business Outlook. Swonk, chief economist and senior managing director for Mesirow Financial Holdings, Inc., said that usual cycles, like low interest rates leading to a higher number of home purchases, can't be counted on. Such cycles are being affected by government deficits, high unemployment, and a gap in workforce education, she said in a May 2 article in the Daily Herald.
Christopher Turillo, '10, has been named a 2012 Echoing Green Fellow. Turillo cofounded Medha, a program "to better prepare India's youth for life after school. We support existing college and high school students with employability training, leadership development, and career services," according to the Medha website. Echoing Green said its fellows are "visionaries with ideas so bold and convictions so strong they could shake the world."