Alumni Connections - No. 49 - August 2008

Alumni Connections is a sampling of alumni news. Alumni on the Move, Alumni to Know, CEO Watch: Taking the Lead, and CEO Watch: Making Headlines share news gleaned from media online and in print, including news submitted to Chicago Booth Magazine. Submit information about yourself or fellow alumni to

Alumni on the Move

Aon Corporation
Paul Hagy, ’99, has been appointed corporate treasurer. Previously, he was vice president, investments and treasury, of the Chicago-based insurance and management consulting firm.

Barclays Bank
Pamir Arat, ’07 (EXP-12), has been named head of premiere emerging markets in such countries as India, Russia, United Arab Emirates, Egypt, Pakistan, Mauritius, Seychelles, as well as many African countries. She will be based in Dubai. The investment bank is headquartered in London.

Boenning & Scattergood, Inc.
Stephen Hurly, ’97, has joined as a managing director, focusing on biotechnology and pharmaceutical sectors. The investment banking firm is headquartered in West Conshohocken, Pennsylvania.

Carlson Wagonlit Travel
Marc Karako, ’81, has been named executive vice president and CFO. Headquartered in Minnetonka, Minnesota, the travel company offers cruises, vacations, and other travel-related products and services. Karako will be based in Paris.

Deutsche Bank Securities Inc.
Randy Kurtz, ’88, has joined the global banking division as managing director and head of corporate finance coverage in the Midwest region. The investment bank is headquartered in Frankfurt. Kurtz will be based in Chicago.

Equibase Capital Group, LLC
Ronald Koretz, ’93,
has joined the Chicago investment firm as vice president for asset and portfolio management of investments.

Matthew Ferguson, ’01,
has been appointed to the board of directors. Headquartered in Indianapolis, Indiana, the firm offers email marketing software. Ferguson is president and CEO of

Indiana University Kelley School of Business
George Telthorst, ’84,
has been named director of business development. The university is located in Bloomington, Indiana.

Medis Technologies Ltd.
Frank Romero, ’94,
has been appointed senior vice president of sales and market development. The New York–based company develops fuel cell technology.

Rich Nuzum, ’96, has been appointed president and global head of the firm’s investment management business. In addition to investment services, the New York–based firm does consulting and outsourcing.

MorrisAnderson & Associates Ltd.
Aaron Gillum, ’04, has joined as a consultant. Headquartered in Chicago, the firm offers a range of finanancial, consulting, and turnaround services.

Royal Bank America
Robert Kuehl, ’76, has been appointed CFO. The bank is a division of Royal Bancshares of Pennsylvania Inc., which is based in Narberth, Pennsylvania.

Spring Point Project
Timothy Clark, ’92, has been appointed to the board of directors. Based in Minneapolis, Minnesota, the nonprofit organization works with the Diabetes Institute for Immunology and Transplantation of the University of Minnesota to expedite the availability of islet tissue to diabetes patients. Clark is a senior partner and executive team member of CarVal Investors.

Talisman Energy Inc.
L. Scott Thomson, ’98, has been appointed CFO and executive vice president, finance, for the independent oil and gas exploration and production company, which is headquartered in Calgary, Alberta, Canada.

Topco Associates LLC
Steve Schmitchel, ’98,
has been promoted to vice president of TopSource, the firm’s not-for-resale program. Schmitchel has worked for TopSource for nearly four years. Based in Skokie, Illinois, Topco uses the purchasing power of more than 60 member firms to get discounts from wholesalers and manufacturers and then distribute more than 5,000 private-label foods and beauty aids.

Wachovia Global Asset Management
Michael Borkan, ’82, has been named managing director of distribution for Europe, the Middle East, and Africa.

XF Media
Richard Young, ’02, has been named managing director of the Xinhua sports division. The Beijing-based company is a leading media group in China.

Alumni to Know

Norman Bobins, ’67, will become chairman of the “fast-growing” PrivateBank, according to a July 1 article in Crain’s Chicago Business. Bobins also joins the board of the bank’s holding company, PrivateBancorp, “giving a major boost to the Chicago-based lender,” the article said. Bobins had retired from LaSalle Bank at year’s end.

Stephani Mason, ’97 , is part of an initiative by the non-profit “PhD Project”, designed to increase diversity representation in business school faculties according to The eventual goal is to increase diversity in top management by providing minority business school students with more role models. Mason who held corporate positions as a wealth manager as well as sitting on her firm's compensation and evaluation committees is studying for her doctorate at Rutgers. She is also an adjunct professor at The City University of New York.


Daphne Mazarakis, ’99,left Kraft Foods to start her own company, Tula Foods, based in Evanston, Illinois. Its current specialty: natural yogurt with whey protein, called "Better Whey of Life", according to an article in the May edition of BW Chicago. The article said Mazarakis lost enough weight to drop one skirt size in six weeks simply by sprinkling whey powder on her meals. Extracting the powder from milk isn’t easy, however. “It requires delicate treatment and high technology,” Mazarakis said. She said she chose to start her whey product line with yogurt because its sales are growing 35 percent a year in organic markets. She hopes to make a profit within three years, the article said.

Gus Sauter, ’80, managing director at Vanguard Group Inc., discusses his firm’s steady, long-haul philosophy in a June 26 profile in the Philadelphia Inquirer. “It’s boring,” Sauter told the Inquirer. “We just keep saying, you know, ‘Stay the course.’” When markets tank, people are tempted to cut their losses, he said in the article. “But, really, the investors who fare the best are the ones who avoid those urges.” Fun facts about Sauter: A former gold miner who lived in Las Vegas, he loves roller coaster rides, the article said.

Donald Shepard, ’81, has been elected chairman of the U.S. Chamber of Commerce’s board of directors, according to a June 12 article in The Financial, a newspaper based in Tbilisi, Georgia. “I am extremely honored by the board’s confidence,” Shepard said in the article. “The U.S. Chamber is a dynamic and effective advocate for American business in today’s increasingly competitive global marketplace.”  Shepard is chairman of AEGON USA and retired CEO of AEGON, a European financial services company.

CEO Watch: Making Headlines

Robert Lane, ’74
Deere & Co.
Lane “is, in fact, one of America’s top performing CEOs,” said a June 23 profile in Fortune. Since he became CEO eight years ago, Deere shares have quintupled despite a flat stock market, the article said. Lane told Fortune that company business improved through asset disposal and a plan for measuring the amount of capital used per product. Before any internal profit can be reported, the profit must exceed a charge for use of capital. “Everything is about the kind of capital that it takes to produce the profit,” Lane told the magazine. “We have tried to do this in a way that all of our operating managers could understand. We made it very simple: a capital charge of 1 percent a month, 12 percent a year. It’s not a perfect number, but it’s easy to understand. And every asset has that charge. So a breakeven number means you’re earning 12 percent, which is not bad.”

Ron Packard, ’89
Founder and CEO
K12 Incorporated

Packard received a regional award for the Ernst & Young Entrepreneur of the Year 2008, which recognizes the entrepreneurs who demonstrate extraordinary success in innovation, financial performance, and personal commitment to their businesses and communities. He was chosen in May out of nearly 100 nominations from the Greater Washington Region by a panel of independent judges. As a regional award winner, Packard is eligible for the Ernst & Young Entrepreneur of the Year national program announced November 15. Founding K12 Incorporated in 1999, Packard’s vision for the company was to provide every child access to an excellent education regardless of geographic, financial, or demographic circumstances.

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