michigan finance scholars - central michigan university · 2019-12-09 · lending challenge, ally...
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Michigan Finance ScholarsDecember 2019
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Table of ContentsMFS at a Glance
Workshops
Challenges and Competitions
Trips, Tours, and Travel
SEC Chairman
Michigan Finance Scholars
Employers
Alumni & Friends Giving
Program Support
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Founded in November 2017, the Michigan Finance Scholars program prepares
ambitious and driven undergraduate students for top careers in finance. The goal
of the program is two-fold. First, we prepare scholars to become well-qualified
candidates to get top internships and entry-level positions in the finance industry.
Second, we equip them with hard and soft skills to ensure continued success and
growth in their careers.
The past academic year, 2018-19, was one of the greatest triumphs for CMU
Finance in the history of the program. We have seen unprecedented success in
job and internship placements, competition results, student energy, and alumni
involvement. Most notably, the junior cohort of the Michigan Finance Scholars
program has achieved 100% internship placement for summer 2019. This stratum of
success is impressive considering these internships vary across investment banks,
hedge funds, elite private capital management firms, and some of the Fortune
100 companies. With such momentum, CMU is rising to the level of top finance
programs across the country.
The competitions have been another area of considerable accomplishment.
Under the leadership of Professor Brad Taylor, a former CFO, CMU students have
competed in a mélange of finance competitions. These included the Corporate
Lending Challenge, Ally Bank Challenge, CFA Research Challenge, ACG Cup, UIC
Stock Pitch, and 20-Hour Investment Banking Challenge. We performed well in
all events and are especially proud of scoring a historic win at the CFA Research
Challenge.
We invite our alumni and friends to get involved with the program. Over the last year we had countless contributors
engage students for lunch, speak during Dialogue Days, extend access to internships, or attend regional alumni
receptions. We thank those who are already mentoring our students and inspiring them to pursue their career
aspirations. We are incredibly grateful for the time, talent, and treasure you have gifted our program.
Additionally, we welcome speakers at the student-led Central Finance Club on Thursday evenings or every weekday
morning at 7:30 at the Wall Street Journal Club; this was recently founded by Sam Bodman and Max Dolinsky, where
students meet to discuss the latest news in financial markets.
Moving forward, we plan to work together to prepare students for and place them in top positions across the country
and to promote the CMU brand. Brad Taylor will continue training students with business case studies on Saturday
mornings and bringing them to competitions, which are open to every student of any major. We will expand our
strong alumni network and will push the students to adopt the Mamba Mentality – wanting the most from life, and
willing to give every ounce of energy to earn it.
Fire up for finance,
Dr. Max DolinskyAssistant Professor of Finance
Jake AymenMichigan Finance Scholar &
Central Finance Club President
Michigan Finance Scholars at a Glance
Max Dolinsky Jake Aymen
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On October 26th, two CMU Teams consisting of Jack Posljako, Ryan Andrews, Jake Aymen (pictured above) and Ben Smyth, Gabe Nichols, Eric Scott competed against 11 other schools around the state at Grand Valley State University’s Siedman Center. Professor Brad Taylor mentored students for the competition and built on the success of last year’s CMU team placing second. The teams were tasked to present on a case to both the client and lending committee, justifying which loans to extend and defending why. They used knowledge they gained both in class and through their internships. The team of Jake Aymen, Jack Posljako, and Ryan Andrews placed first winning a $3,000 prize. This experience has directly led to students gaining an understanding of balancing client and lending committee needs.
Every year, more than 6,100 university students compete in the CFA Research Challenge. The competition consists of three levels—regional, national, and international. In teams, students intensively analyze a publicly traded company based in their region. This process includes speaking with management, using CFA Institute Resources, and delving into SEC archives. The competition requires a full equity research report and presentation in front of CFA Charterholders. While the benefit from gaining technical experience is substantial, the networking opportunities with other universities, CFA Charterholders, and employers is of immense value.
This year two CMU teams competed in the regional CFA competition, placing first and second among regional schools. The company assigned was Gentex (NASDAQ: GNTX). The first-place team advanced to the national level in New York City. The resounding success will ideally be the first of many more victories—both through competitions and networking with the CFA Institute. This challenge has inspired many Michigan Finance Scholars to take the CFA Level I Exam. Two students, Bailey Wessel and Jake Aymen, recently passed level I.
Challenges and Competitions
Commercial Lending Challenge CFA Research Challenge
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WorkshopsMichigan Finance Scholars hosts regular case studies with Professor Brad Taylor. These workshops augment student understanding of finance in areas of capital budgeting, mergers & acquisitions, critical thinking, loan extension, and corporate finance. Meetings this year commenced with 45 students including many non-MFS members, happily joining us on Saturdays at eight o’clock in the morning to hone their skills during these case studies.
September 2019, our students had the opportunity to meet with and hear from the chairman of the U.S. Securities and Exchange Commission, Jay Clayton. The chairman gave an overview of the work of the SEC before sharing his thoughts on capital markets, creating economic environments to support entrepreneurship and the value of teamwork.
Following the presentation, CMU alums Robert Stebbins, the U.S. SEC general counsel, and Jon Voigtman, managing director at Royal Bank of Canada, joined the chairman for a panel discussion facilitated by Max Dolinsky, Assistant Professor of Finance. The panelists answered students’ questions on emerging issues and trends such as market prices, insider trading, private and public sector careers, and much more.
SEC Chairman Visits CMU
“Often the winning team is not just the one with the most individual talent, but the one that coordinates the talent they have most effectively.”
— Jay Clayton, SEC Chairman
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“During the trip to NYC, we visited several companies in the city including the Royal Bank of Canada and Sharp Entertainment. These opportunities allowed me to explore different areas of finance. The trip also provided me with the chance to interview for an internship with one of the companies we connected with on the trip, a rare opportunity for a freshman.”
— Kelsey McElroy, Michigan Finance Scholar
New York City, New York
Minneapolis, Minnesota
Ann Arbor, Michigan
Dallas, Texas
In the last year, our students have taken trips to NYC, Minneapolis, Dallas, Detroit, Ann Arbor, Grand Rapids. During the trips our students compete and promote CMU brand, tour firms, explore cities, and meet alumni. As the result, many students discover valuable opportunities and secure internships and full-time jobs.
Trips, Tours, and Travel
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Inspired by the 2018 NYC trip, Professor Max Dolinsky and Graduating Senior Sam Bodman started a club that meets at Ponder Coffee at 7:30 am Monday through Friday to read a print copy of the Wall Street Journal, and discuss markets, careers, and life. The club has yet to miss a day, including the recent snow-days.
Alumni, recruiters, and even CMU President Bob Davies have dropped by. Among many, we thank Jon (’84) and Terri (’85) Voigtman, Tim Magnusson (’94), Bill Evans (’84), Rose Prasad, and Enrico Digirolamo (’76) for being part of it!
Max often invites recruiters without telling students to keep the sessions authentic. In fact, CMU alumna Tracy Jacobs (’00) from Owens Corning surprised the students one morning. Their energetic interaction led to the attending students interviewing with Owens Corning, and two students recently accepted offers with the company!
To get a feel for Mr. Jon Voigtman’s description of 20-hour days on Wall Street, six finance students simulated the experience last April. Starting at 5:00 am, the team spent 20 hours in the Voigtman Financial Lab to determine a buy, hold or sell recommendation of Bed Bath & Beyond following their earnings call. Sam Bodman, Jake Aymen, Wayland Williams, Austin Harvey, Lisa West, and Eric Scott published a comprehensive analysis and valuation using discounted cash flows, comparable companies, precedent transactions, and a leveraged buyout model. The scholars issued a “sell” rating when $BBBY was trading at $17.71. It fell to less than $8.00 in August, and now trades at around $14.00 per share. The published report is available upon request.
Special thanks to Mr. Jon Voigtman (’84) and Kyle Bazzy (’10) for mentoring the students during the challenge!
Wall Street Journal Club20-Hour Investment Challenge
The Fall 2019 semester has been a resounding success. This year we brought in speakers, hosted a career panel discussion, and spoke with a CFA Charterholder. Speakers included Jerome Schwind, Joshua LaFountain, April Wingate, Charles Zalud, and Troy Root. These speakers presented on hedge funds, family offices, commercial banking, corporate finance, investment banking, and personal financial planning. We also re-balanced the student-run Martha R. Seger Endowment Fund by cutting over-sized positions and bolstering underrepresented sectors.
Central Finance Club and Martha R. Seger Endowment Fund
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Michigan Finance ScholarsFreshmen (2023)
Sophomores (2022)
Adam KlausMajor: Finance & Accounting
Competitions:Undergraduate Investment Conference
Adam SchihlMajor: FinanceMinor: Accounting & Professional Sales
Morgan ColbyMajor: FinanceMinor: Accounting & Information Systems
Danielle SmithMajor: FinanceMinor: Accounting
Kelsey McElroyMajor: Actuarial ScienceMinor: Finance
Competitions:Stock Pitch at UIC
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Juniors (2021)
William BonneeMajor: Finance & Accounting
Jacob FoxMajor: FinanceMinor: Professional Sales Internship: United Wholesale Mortgage
Bryce ThelenMajor: Finance & Accounting Internship: General Motors
Competitions:Undergraduate Investment Conference
Erik CharenMajor: FinanceMinor: Accounting Internship: Magna International
Competitions:CFA Research Challenge
Andrew GawrykMajor: FinanceMinor: Economics
Competitions:Undergraduate Investment Conference & CFA Research Challenge
Lisa WestMajor: FinanceMinor: Information Systems Internship: Fragomen
Competitions:Stock Pitch at UIC & 20 Hour Investment Challenge
Jacob ChaseMajor: FinanceMinor: Accounting Internship: Northwestern Mutual
Competitions:Undergraduate Investment Conference
Preston GeeMajor: FinanceMinor: Sports Management
Sloan FeltonMajor: Finance
Eric ScottMajor: Finance & AccountingInternship: Azimuth Capital Management
Competitions:RMA Commercial lending Challenge, CFA Research Challenge, ACG Cup, Undergraduate Investment Conference, & 20 Hour Investment Challenge
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Seniors (2020)
Riley AlexanderMajor: FinanceMinor: Accounting Internship: MassMutual
Deanna N. BrouwerMajor: FinanceMinor: Accounting & Information Systems Internship: Domino’s
Jack PoslajkoMajor: Finance & Accounting Internship: Mercantile Bank of America
Competitions:RMA Commercial Lending Challenge
Ryan AndrewsMajor: FinanceInternship: Level One Bank
Competitions:RMA Commercial Lending Challenge & ACG Cup
Mitchell BrussellMajor: FinanceMinor: Accounting Internship: College Works Painting
Competition(s):RMA Commercial Lending Challenge
Samuel ReinaMajor: FinanceMinor: Information Systems Internship: Edward Jones Investments
Jake AymenMajor: Finance & EconomicsInternship: Merrill Lynch Wealth Management
Competitions:Stock Pitch at UIC, RMA Commercial Lending Challenge, ACG Cup, CFA Research Challenge, NIBC Investment Banking Competition & 20 Hour Investment Challenge
Hannah HartenburgMajor: Accounting & FinanceMinor: Information Systems Internship: Office of Auditor General
Benjamin SmythMajor: Finance & Real Estate Development Internship: PNC Financial Corporation
Competitions:RMA Commercial Lending Challenge & ACG Cup
Sam BodmanMajor: FinanceMinor: Mathematics Internship: Garda Capital Partners
Competitions:Undergraduate Investment Conference, ACG Cup, & 20 Hour Investment
Thomas LucasMajor: FinanceMinor: Accounting & Professional Sales Internship: RBC Capital Markets - NYC
Stewart ZondlakMajor: FinanceMinor: Information Systems Internship: WestRock
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EmployersPartnerships with employers are paramount to the success of any academic program. This year employers, including but not limited to, General Motors (pictured below), Royal Bank of Canada, Ally Financial, Owens Corning, Dow Chemical, Medtronic, and Garda Capital Partners engaged with MFS. From hosting a panel discussion and presenting employment opportunities, to hiring students and inspiring them to aim higher and achieve more. Such interactions give an array of perspectives on career choices, paths to dream jobs, and mentorship. Several companies extended internship and full-time offers to our students after these networking events. For example, Central Finance Club hosted General Motors at Ponder Coffee for an insightful discussion that prompted many opportunities.
Alumni & Friends GivingMaimonides defines eight levels of giving, where the highest form of charity is offering assistance in a dignified manner that fosters sustainability and independence. Giving Talent, Time, and Treasure to the MFS program has proven to be a long-lasting gift that multiplies.
With the help of our active alumni and friends contributing towards transformational student experiences, our finance students won competitions, 100% of our Junior Scholars earned internships, most seniors got excellent full-time jobs, and some even passed level 1 CFA. These accomplishments set up our students for long-lasting, perpetual success.
We humbly thank all of you for supporting our program!
“The Voigtman Family Endowed Scholarship is a badge of honor within CMU Finance. Mr. and Mrs. Voigtman’s generosity has allowed me to spend more time to focus on my education and less on managing tuition. I am grateful to be part of the line of students wearing that badge.”
— Sam Bodman, The Voigtman Family Endowed Scholarship Recipient 2018 -19
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Program Support: Time and Talent
Larry Alberts Former Portfolio Manager, Ameriprise
Bianca Allen Associate Underwriter, Quicken Loans
Michael Armstrong Professional Sales, Harness
Karen Arthur Director of Business Student Services, CMU
Jake Aymen Senior, CMU
Jody Bandlow Finance Staffing and Development Manager, Dow Chemical
Kurt Baringer Manager of Multimedia Production, CMU
Alma Bazarbaeva Consumer Credit Risk Manager, GM Financial
Nicholas Bellestri Commercial Lender, Mercantile Bank
Diane and John Berghoefer Friends of MFS
Sam Bodman Trading Assistant, Garda Capital Partners
Melodie Boling Senior Director of Development, College of Business Administration, CMU
Dustin Burke Credit Officer AVP Business Banking, Independent Bank
Phame Camarena Director of University Honors, CMU
Marilou Chanrasmi Academic Program Manager, SAS
Jay Clayton Chairman, Securities and Exchange Commission
Morgan Colby Freshman Scholar, CMU
Chuck Crespy Dean Emeritus, College of Business Administration, CMU
Aaron and Christie Cromar Founders, Ponder Coffee
Guy Daigneault Author, Wealth Manager, National Bank of Canada
Bob Davies President, CMU
Cam Davis Managing Director, J.P. Morgan
Katrina De Hart Senior Financial Analyst, General Motors
Jennifer Dietzel Academic Advisor, CMU
Enrico Digirolamo International Executive and Board Director
Rebecca Dingus Associate Professor of Marketing & Professional Sales, CMU
Margaret Dinneweth Accountant I and ALDP, Ally Financial
Cheryl Doggett VP & Chief Talent Officer, Anthem
Bill Evans Managing Director, Commerzbank
James Felton Professor of Finance, CMU
Francesca Ferrara Law Student, University of Michigan
Walter Galloway Sr. VP Credit Risk Reporting and ALLL Manager, Comerica Bank
Tim Gerstenberger Talent Programs Manager, Ally Financial
Alexandra Goodell Sr. Account Manager, MNI- Market News
Bryan Griffin Director of Annual Giving and Online Engagement, CMU
Matt Grimes Managing Director, Wells Capital Management
Todd Harter Associate VP, Ameriprise Financial Services
Austin Harvey Commercial Underwriter, Comerica Bank
Marilee Hedberg Director, Client Solutions, Scholarship America
Steve Hedberg Managing Director, HK Hospitality
Ryan Heeke ABS Syndicate Desk, RBC Capital Markets
Jan Hewlett Sr. Managing Director & Co-Founder, Azimuth Capital Management
Dustin Hill VP, FINNEA Group
Cindy Howard Executive Assistant, CMU
Zhenyu Huang Professor of Information Systems, CMU
Ashley Hughey Finance Manager, General Motors
Derek Humphrey Analyst, Goldman Sachs
Wayne Irwin VP Operations & COO, Ericsson
Tracy Jacobs Senior Finance Director, Owens Corning
Lynn Jones Financial Analyst, Ford
Riley Justis VP of Business Development, Faulkner Tech
Bob Kendall Director, UHY Advisors Corporate Finance
Kristen Kendrick Academic Advisor, CMU
Patrick King Designated Market Maker, Citadel LLC
Peter Konyndyk Plante Moran Financial Advisors
John Kulhavi Senior Consultant, Merrill Lynch Wealth Management
Joshua LaFountain Sr. Financial Analyst, General Motors
Chris Lane Country Music Singer
Bob Larson Executive Vice President, Sharp Entertainment
Fred Lawrence Professor of Marketing & Logistics, CMU
Olivia Long CarMax
Sherry Magnusson Volunteer, Friend of MFS
Tim Magnusson Founding Partner and Senior Portfolio Manager, Garda Capital Partners
Chuck Mallon CFO, Rio Grande Regional Hospital
Bruce Marble Director of Isabella Bank Institute of Entrepreneurship, CMU
Caleb Mathers Finance Supervisor, General Motors
Jack McCarthy Jr. Senior Managing Directory & Founding, Alvarez & Marsal Capital Partners
Linda McClain Executive Secretary, CMU
Kelsey McElroy Freshman Scholar, CMU
Gary McGuire Vice President and Treasurer at Dow Chemical
Jessica Meyers Coordinator of Communications, Marketing, and Social Media, CMU
Andhi Michaux Chief HR Officer, Garda Capital Partners
John Mitchell Professor Emeritus of Finance, CMU
Chris Moberg Dean, College of Business Administration, CMU
Mark Nadolski Senior Finance Manager, General Motors
Darian Neubecker VP of Finance, Robertson Brothers Co.
Lori Olsen School of Accounting Chair, CMU
Allison Osterdale Graphic Design Coordinator, CMU
Karla Ott Manager of Financial Operations & Accreditation, College of Business Administration, CMU
Diane Patton Ford Europe Executive
Mike Petix Senior Vice President, Citizens Business Capital
Robin Petix Friend of MFS
Rose Prasad Professor Emerita of Finance, CMU
Renae Pung Academic Advisor, CMU
Sarah Ransom Administrative Secretary, CMU
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Dave Roberts Senior Vice President, Medtronic
Troy Root Portfolio Manager, Garda Capital Partners
Andreas Rothe CFO, Fragomen
Mark Salter Executive Director, CFA Society Minnesota
Elise Sandler Sr. Financial Analyst, General Motors
Jerome Schwind President and COO, Isabella Bank
Josh Sheldon Sr. Strategy Analyst, CarMax
Emanuel Sledge Enterprise Risk Manager, Ally Insurance
Karl Smart Interim Associate Dean, College of Business Administration, CMU
Colleen & Kevin Smyth Friends of MFS
Rob Sparling Global Director / CIO, Dow Chemical
Bob Stebbins General Counsel, Securities and Exchange Commission
Shelby Stine Assistant Director of Employer Relations, CMU
Quinn Sullivan Analyst, Garda Capital Partners
Brad Taylor Corporate Finance C-Level Executive & Professor of Finance, CMU
Emily Telesco Operations Analyst, RBC Capital Markets
Jeff Thomas Entrepreneurship Department Chair, CMU
Makayla Tyler Financial Analyst, General Motors
Nick Urban Investment Advisor Representative, Advanced Wealth Strategies
Mark Van Faussien Senior Managing Director, Azimuth Capital Management LLC
Tzveta Vateva Professor of Finance, CMU
Frederic Vereecken Head of Trading and Middle Office, Garda Capital Partners
Voltaire Vizcarra Director of Production Finance and Accounting, Sharp Entertainment
Jon Voigtman Managing Director, RBC Capital Markets
Kirby Voigtman Credit Desk Strategy, RBC Capital Markets
Terri Voigtman Volunteer, Friend of MFS
Michael Wahl Managing Director, PNC Capital Markets
Scott Walbrun Investment Banking Associate, Jeffries
Christopher Weiss Business Unit Chief Accounting Officer, Ally Financial
Bailey Wessel Consumer Credit Risk Analyst, GM Financial
Holt Wilson Professor of Marketing, CMU
April Wingate Talent Advisor/Campus Recruiting, Raymond James
Charles Zauld Vice President, SI Capital
John Zehr Director of Global Learning & Development, Medtronic
Bob Zeinstra Group Manager, Global Sales Operations Support at Toyota North America
Dave Zick President, Rehab and Mobility Systems LLC
$10,000+
Lisa & Jack McCarthy Jr.
Jon & Terri Voigtman
Tim & Sherry Magnusson
$5,000 - $9,999
Jackie Goforth
$1,000 - $4,999
Jake Aymen
Chuck & Leigh Crespy
Cam Davis
Max Dolinsky
Jim & Angie Felton
Charles & Gerry Scribner
Brad Taylor
Anonymous (x1)
$500 - $999
Melodie Boling
Mary Davis
Mark Van Faussien
Jan Hewlett
Anonymous (x3)
Shae-Lyn Berghoefer
Nicholas Bellestri
Nils Bodman
Sam Bodman
Nick Clark
Program Support: Treasure
Brent Cox
Margaret Dinneweth
Sean Goffnett
Bryan Griffin
Allison Harrison
$1 - $499
Austin Harvey
Joshua LaFountain
Fred Lawrence
Mitchell Kerkstra
John Mitchell
Emily Telesco
Renji Thomas
Tzveta Vateva
Bailey Wessel
Anonymous X6
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The CMU Finance program is eager to increase our network. Many alumni and employers may wish to engage students. Please reach out get involved in any of the following ways:
» Student Mentor — Become a mentor and coach
» Alumni Speaker — Visit campus and share your story
» Host a Corporate Tour — Open your doors to traveling students
» Internship Sponsor — Help place a Michigan Finance Scholar
» Alumni Networking — Attend an alumni reception in your area
» Financial Support — Fund transformational experiences
Alumni & Friends: How Can You Get Involved?
To get involved, please connect with Max Dolinsky on LinkedIn or contact him at [email protected].
Visit www.MichiganFinanceScholars.com for more info.