A select group of Farmer School of Business undergraduates returned to school this semester with a clearer understanding of the intricate workings of the U.S. financial markets. These 28 students participated in Wall Street Week Jan. 7–11, which took them onto trading floors and into board rooms, and provided the opportunity to learn directly from banking and finance professionals in New York’s financial district.
Led by Dr. Mark Griffiths, Jack Anderson Professor of Finance, the group toured district landmarks such as the Federal Reserve Bank of New York, the New York Stock Exchange, Federation Hall, and Ground Zero. They visited the famed gold vault at the Federal Reserve, and observed activities at the stock exchange, the equities trading floor at Morgan Stanley, and the fixed income trading floor at Lehman Brothers. In a series of seminars during the week, students heard from experts on topics ranging from the sub-prime meltdown to portfolio management, from asset allocation to relationship management.
“It was one of the most rewarding experiences I have had at Miami. I not only learned much more than I expected to, but it was also extremely motivational to be in that atmosphere,” commented Connor Ferguson, a junior.
Wall Street Week, sponsored jointly by the Farmer School and The Royal Bank of Scotland, is designed to expose students to the realities of banking and investment and to acquaint them with career opportunities in these fields. There is increasing interest in this program and its new counterpart in Chicago, Dr. Griffiths said.
“The Finance Department is offering more electives dealing with investment issues such as equity analysis, fixed income and derivatives,” he explained. “There has been a conscious effort to reach out to alumni in the financial communities to involve them in these programs and, as a consequence, more students are being courted by these firms. At the same time, more I-Banking firms are beginning to recruit on campus.”
This year’s participants—all finance majors—included 10 seniors, 17 juniors, and one sophomore. They were selected from a pool of 68 applicants on the basis of GPA, interest in investment banking careers, internship and job prospects upon graduation, and a personal essay.
Inaugural Chicago Week immerses FSB students in the world of banking, securities, commodities trading. more
