For my third year in a row, I had the opportunity to attend the 10th Annual CREDIT Conference on April 10, 2015 at The University Club of Chicago. CReDIT, a Chicago Booth student group, stands for Credit, Restructuring, Distressed Investing & Turnaround, and is student-led career-focused group whose mission is to help educate its members about the opportunities and operations of all aspects of the distressed investing and restructuring industry.
This year's Keynote Speaker was Byron Boston, CEO/President and Co-Chief Investment Officer of Dynex Capital. Mr. Boston, Chicago Booth MBA '86, during his 30-year career has held a number of leadership positions in the asset management and investment banking community, including Credit Suisse First Boston, Lehman Brothers, and Freddie Mac. He later personally founded two successful public companies, and led the IPO of Sunset Financial Resources by raising $130 million in initial equity. After Sunset was sold, he consulted with Redwood Trust for a couple years before joining Dynex Capital in 2008 as its current CEO, President, and Co-Chief Investment Officer.
Panels of experienced professionals in the legal and financial services sector brought their knowledge to the table with up-to-date industry shifts that frequently evolved into a lively debate over the critical issues that matter in the space. For students looking to make a career transition, listening to practitioners of multiple industries and hearing their stance provides a more macro perspective that offers tremendous insight through various lenses. As my classmate Jorge Martinez '15 put it, "As a student transitioning into investment banking in the energy sector, I found the conference to be an amazing opportunity to learn about many of the current restructuring and distressed M&A practices, particularly those in the oil and gas sector." Headline-making industries, such as the oil, retail, and casino sectors, and their future outlooks were discussed, and hot topics in bankruptcy code were tackled to provide some very important answers to today's questions that challenge existing professionals.
MaryLou Marinas | Current Evening MBA Student | SAC Co-Chair