For one week in September, Farmer School finance majors immersed themselves in the world of banking and securities and commodities trading in Chicago. Each day, the students visited top financial firms such as Bank of America, which hosted the program; J.P. Morgan Chase & Co., Key Bank, Barclay’s Bank, and Credit Suisse, learning from finance professionals the rigors and rewards of careers in banking and investments.
A real plus for this experience, said many participants, was the fact that almost all of their speakers were Miami alumni.
“The Miami alums who came to speak were very successful in their career paths, whether they were brand new to the financial world or the CEO of a major firm,” said Hans Skillrud, a senior finance/chemistry major.
“I could not have been more proud to be a Miami student,” senior Brian Prescott said. “Our exposure to Miami graduates holding top positions and running their own trading and private equity shops continued throughout the week.”
Each day was full. The group listened to presentations from experts in finance-related fields; they discussed current events that have an impact on the financial markets; they visited the trading floor of Miami alumnus Jim McCormick’s Transmarket Group and toured the Chicago Board of Trade. At one point, they were able to listen in as the Bank of America’s chief economist took part in a conference call discussing possible Fed actions on interest rates.
After-hours receptions and dinners gave the students opportunities to network with employees of their host firms. These informal contacts, along with the professional presentations, helped the students understand the role of a newly-hired analyst in corporate finance, commercial banking, and investment banking and how to prepare for such positions.
The most beneficial part of the trip to Chicago, for senior Michael Nagy, “was learning what a great alumni network Miami has in Chicago and discovering all the career opportunities there.”
The program was organized and facilitated by Mark Griffiths, Anderson Professor of Finance with alumni outreach spearheaded by Kirk Bogard and Susan Armacost of Miami’s Development Office. It is an offshoot of the popular Wall Street Week program in which Griffiths has taken groups of finance majors to the heart of New York City’s financial world.
Senior Amanda Link found the most beneficial part of the trip to be what she learned about specific areas within the financial world. “Understanding the daily responsibilities and functions of traders, investment bankers, credit analysts, hedge fund managers, and private equity partners helped me to redirect and focus my career aspirations,” she said.
“We received 54 applications for our first Chicago Week this year,” said Griffiths. “We chose 25 great students who excel in the classroom and are self-motivated. They will make excellent academic ambassadors to the business world and very loyal alumni.”
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