Alumni Connections - No. 42 - January 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

Amcore Financial, Inc.
Judith Carre Sutfin, ’93,
has joined as CFO and executive vice president. The consumer and commercial bank is based in Rockford, Illinois.

Ron Iori, ’88,
has joined as senior vice president, corporate communications and public affairs. Based in Philadelphia, Aramark is one of the world’s largest food service providers and a leader in such managed services as building maintenance and housekeeping. Iori will report to Joseph Neubauer, ’65, chairman and CEO.

Juan Carlos Lumbreras De Azanza, ’00 (EXP-5),
has been named general manager. Based in Pontevedra, Spain, the company produces extruded ceramic tiles.

CF Industries Holdings, Inc.
Richard Hoker, ’94,
has been elected vice president and corporate controller. Headquartered in Deerfield, Illinois, the firm is the holding company for CF Industries, Inc., which makes nitrogen and phosphate fertilizers.

Cintas Corp.
Lance Bates, ’03 (XP-72),
has joined as head of the national account sales division. The uniform supplier is based in Cincinnati, Ohio.

Competition Commission of Pakistan (CCP)
Maleeha Mimi Bangash, ’03 (AXP-2),
has been appointed a commission member. Based in Islamabad, the commission aims to counter deceptive marketing practices. Bangash is vice president for marketing and retail sales at MCB Asset Management Company Ltd. in Karachi, Pakistan.

Essex Woodlands Health Ventures
Lisa Ricciardi, ’86,
has joined as adjunct partner in the company’s New York office. The Chicago-based venture capital firm invests in the health care industry.

Excelligence Learning Corporation
Kevin Kiper, AB ’79, AM ’83, MBA ’87,
has joined as director of circulation and database marketing. Headquartered in Monterey, California, the company develops educational products for child care programs, preschools, elementary schools, and consumers.

Gas Technology Institute
Guy Lewis, ’84,
has been named director of supply strategy. Based in Des Plaines, Illinois, the nonprofit organization supports the natural gas industry.

GPX Enterprises, L.P.
Eric Steager, ’03,
has joined as vice president. Based in Haverford, Pennsylvania, the private equity firm invests in operating companies and real estate through its subsidiary, GPX Realty Partners, L.P.

HC Kothari Group
Jason McDannold, ’05,
has been promoted to executive vice president in charge of the petrochemical business unit and the mergers and acquisitions group. The Chennai, India–based conglomerate has 1,500 employees, and its petrochemicals business is the largest of its kind in that country. McDannold is the first American in India to hold such a senior executive position in an Indian company of this size, he said.

Jumpit ASA
Oystein Kvarme, ’98 (EXP-3),
was proposed as chairman at a November 20 Extraordinary General Meeting, according to a November 26 Regulatory News Service article. Based in Akershus, Norway, Jumpit develops disposable and rechargeable batteries for use in handheld devices. Kvarme is CEO at  3g3m, which makes plug-and-play devices that allow users to watch television on their mobile phones.

Lake Capital
Michael Latiner, ’00,
has been named head of business development. The Chicago-based private equity firm invests in service-based enterprises in various industries. 

McKinsey Quarterly
Allan Gold, ’97 (EXP-2),
has been named editor-in-chief of the online journal of business management strategy.

Morgan Joseph
Victor Caruso, ’72,
has been appointed a managing director for the investment banking group. Caruso also heads financial restructuring and special transactions for the New York–headquartered investment bank.

Morgan Stanley
Michael Petrick, ’87,
has been named co-head of institutional securities, sales, and trading. The global financial services firm is headquartered in New York.

MyPrint Corporation
Scott Lucas, ’83,
has joined as executive vice president of corporate strategy. Headquartered in Irvine, California, the commercial printing company also offers software applications, direct mail, and inventory management.

New York Life International
Vikram Sawhney, ’95,
has joined as senior vice president of business development. Headquartered in New York, the firm is the largest mutual life insurance company in the United States.

Particle Drilling Technologies, Inc.
Byron Dunn, ’86,
has been appointed to the board as an independent director. The Houston-based oilfield service company has developed technology to enhance penetration, particularly in hard rock. Dunn is senior vice president, corporate development, of Harvest Natural Resources.

ThinkFire, Inc.
Steven Hoffman, ’78,
has been named to the newly created position of president. Hoffman also was elected to the board of directors. Based in Warren, New Jersey, the intellectual property services firm helps patent owners with sales, licenses, and judgments. Hoffman is a former Bain & Company partner.

Tudor, Pickering & Co., LLC
David Cunningham, ’97,
has been appointed managing director, investment banking, and heads the oilfield services sector. The Houston investment banking firm offers equity research, sales, and trading in the energy sector through its broker-dealer, Tudor, Pickering & Co. Securities, Inc.

Watson Pharmaceuticals, Inc.
Mark Durand, ’86,
has been appointed senior vice president and CFO. The specialty pharmaceutical company is based in Corona, California.

Alumni to Know

Michael Polsky, ’87, and his alternative energy business were featured in a November 19 article in Crain’s Chicago Business. After he bought gas-fired plants at reduced prices, starting in 2001, Polsky got into alternative energy in 2003 by building wind farms, the article said. “All that stress over rising fuel prices, plus growing concern about the environment and the security of the nation’s energy supply, made renewables appealing,” Crain’s said. Today Polsky’s Chicago-based company, Invenergy LLC, is still going strong with six wind farms in the United States and one in northeast Poland—enough to power 200,000 homes, the article said. It has four more farms under construction in the United States, which will nearly double the amount of power generated, Crains’ said. Invenergy is one of the few independently owned companies in wind power.

JPMorgan Chase has hired Barry Zubrow, MBA ’79, JD ’79, as its new chief risk officer. Jamie Dimon, chairman and CEO, spent a year looking to fill the position, said a November 27 article in Financial Times. “The chief risk officer function is a critical role and I’m thrilled we’ve attracted someone of Barry’s caliber and experience to this position,” Dimon told the Times. Zubrow was a former cochairman of Goldman Sachs’s risk committee and is also former chief credit officer. Most recently Zubrow was president of ITB, a private investment management company, the Times said.

CEO Watch: Taking the Lead

Kurt Gallo, ’96
President and CEO
Glacier Bay, Inc.
Gallo was recently appointed to the Monroe, Washington–based company, which makes advanced power and thermal management technologies.

CEO Watch: Making Headlines

Satish Jasti, ’02 (XP-71)
President and CEO
Lotus Bank

Nearly 10 months after opening, the commercial bank aiming for an Asian American customer base—primarily Asian Indians—is preparing to open a second office, he told the Detroit Free Press in a December 16 article. The bank operates from a temporary office in Novi, Michigan, expects to move into its $1.8-million headquarters in March and but plans to open a branch in Troy, Michigan, sooner than planned. Lotus is one of three new banks to open in Michigan in 2007. “There are branches of big, huge banks in southeast Michigan, but the decision-making is not done here,” Jasti said in the article. The bank attracted $11 million in capital in 11 weeks despite Michigan’s poor economy. “Many of Lotus’s customers are Asian Indian doctors or owners of medical-related businesses. That gives Lotus some protection because health care is one of the few booming local industries,” the Free Press said. Lotus has 200 customers and expects its holding company stock to start trading on the OTC Bulletin Board in about a year, according to the article.

Bill Osborne
President and CEO
Ford Motor Co. of Canada
Osborne, the first automotive executive in Canada to take a strong stand against a fuel efficiency program, said Ford may shy away from further Canadian investment if Ottawa signs a free-trade agreement with South Korea without specifying that South Korea be open to Canadian automotive imports. “Too often what passes for free trade in the automotive industry is a one-way street in which imports flow into Canada, but our exports are unfairly prevented from entering foreign markets,” Osborne said in  a November 29 article in the Globe and Mail. “For years, South Korea has successfully maintained an ever-changing array of non-tariff barriers to block access to its market. As a result, trade with that country remains entirely one-sided.” According to the Globe and Mail, a General Motors statement favors a reciprocal trade deal with South Korea. 

Jude Rake, ’87
Recycled Paper Greetings Inc.
Rake went to college to become an engineer, but a Myers-Briggs personality test led him into business management after showing him he’s “someone who likes to take a leadership role, better-suited to a business, not engineering, career,” said a November 25 profile in the Chicago Tribune. After four years as an engineer with Bechtel Corp., he came to Chicago GSB to study brand management. “I went to many company presentations and job interviews. With brand management, I liked the ownership and variety, touching every aspect of a business,” he told the Tribune. After earning his MBA, he joined Clorox, then moved to Pepsi International as the marketing and business development manager. He held positions at S.C. Johnson, Kodak, and Fellowes, Inc., before joining the greeting card firm in 2007.

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