Business and Economics – Fordham Now https://now.fordham.edu The official news site for Fordham University. Wed, 06 Nov 2024 16:13:49 +0000 en-US hourly 1 https://now.fordham.edu/wp-content/uploads/2015/01/favicon.png Business and Economics – Fordham Now https://now.fordham.edu 32 32 232360065 How ESG is Evolving: A Conversation with Fordham’s Bendheim Chair in Economics https://now.fordham.edu/business-and-economics/esg-is-evolving-conversation-an-yan/ Wed, 23 Oct 2024 20:28:20 +0000 https://now.fordham.edu/?p=195801 Since finance professor An Yan joined Fordham in 2001, he has launched multiple programs that connect business schools worldwide to the Gabelli School. Part of this work fits into the Gabelli School’s mission, as he sees it, to educate students all over the world about business ethics and responsible business. But the motivation is also personal for Yan, who came from China to Boston College on scholarship for his Ph.D. Now that he is in a position to extend similar opportunities, Yan said, “I think that’s something I have to return, to help to educate students globally and give them a chance…and the skills to help advance their careers.”

Last month Fordham celebrated Yan’s appointment to the Robert Bendheim Chair in Economics and Financial Policy, which was established in 1996 with a gift from the Leon Lowenstein Foundation. He found time to talk about his work before leaving for a trip to China and Taiwan to meet with Gabelli School graduates and potential donors interested in supporting the school’s research.

Three people standing at Fordham's Leon Lowenstein Center at the Gabelli School of Business: Fordham’s Provost Dennis Jacobs, Ph.D., with the Robert Bendheim Chair in Economics and Financial Policy, An Yan, Ph.D., and Gabelli School Dean Lerzan Askoy, Ph.D. at the Leon Lowenstein Center. Photo by TK
From left: Fordham Provost Dennis Jacobs, Ph.D., with the Robert Bendheim Chair in Economics and Financial Policy, An Yan, Ph.D., and Gabelli School Dean Lerzan Aksoy, Ph.D. at the Leon Lowenstein Center. Photo by Chris Taggart

Your current area of research is ESG—the environmental, social, and governance issues that corporations consider when making business decisions. Why are you drawn to this field and how does the Gabelli School emphasize this in its course offerings? 

That’s part of the strategic research area of the Gabelli School. And also, of course, it’s something I’m passionate about. I spend a lot of time doing this research, trying to see what’s going on, what is wrong, and how we should be trying to educate the students, the market, and the investors. 

Financial Markets and Responsibility is a core course for our Master’s in Finance program and one of the classes I teach. It serves as the starting point for our students to approach [ESG] in more holistic ways and in more scientific ways. And then after this core course, we have electives which are taught by adjuncts working in the field because the ESG landscape has been changing all the time. So those professionals…help our students to really get a hold of the most contemporary issues and challenges. 

Donna Rapaccioli, Ph.D., university professor and dean emerita of the Gabelli School standing with with An Yan at his installation ceremony.
Donna Rapaccioli, Ph.D., university professor and dean emerita of the Gabelli School, with An Yan. Photo by Chris Taggart

The Gabelli School [also]has a student-managed investment fund course that includes an ESG fund. This gives students first-hand experience in managing the portfolio in a sustainable way.

You delivered a lecture on ESG at your installation ceremony. What were the key takeaways?

The takeaway is that ESG is always part of strategic management. It used to be more opportunistic to game the system a little bit and to focus on one [pillar]while sacrificing another one. The recent development seems like the firms, they don’t do this trade-off anymore. My conjecture is, the financial market has become more sophisticated so they can recognize such opportunistic behavior [and they don’t reward it].

There seems to be a backlash against ESG right now. In 2022 Ron DeSantis associated the term with “woke capital.” At the start of this year, The Wall Street Journal ran a story with the headline, “The Latest Dirty Word in Corporate America: ESG.” What’s happening here?

I think it’s just unfortunate, right? It’s a lot of political pressure…but many firms—Unilever, Microsoft—are still [practicing ESG]. They have chief sustainability officers, CSOs. So it tells you they still want to do it. And many people talk about climate risk and how to help the climate. So that’s still there. ESG as a term could be in trouble. But as a practice, I still think many firms are still practicing it, although they may use a different phrase. 

You teach at a Jesuit institution and you received your Ph.D. from one. What is it about this tradition that speaks to you?

Cura personalis [care for the whole person], that’s the key part. Of course there are different ways to talk about a whole human being, but I think one way [is]: just do the right thing. In the current world, you have so much information, different extremes, social media. Sometimes you get lost. I think we’re just trying to [teach]students—think about what’s the right thing to do…follow your value system.

This interview has been edited and condensed for clarity. 

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In Male-Dominated Field, a Gabelli School Grad Student Thrives https://now.fordham.edu/business-and-economics/in-male-dominated-field-a-gabelli-school-grad-student-thrives/ Wed, 01 May 2024 14:54:21 +0000 https://now.fordham.edu/?p=189537 Yan Wang always knew she wanted to work in the financial capital of the world. When she graduated from Wuhan University with a bachelor’s degree in mathematics in 2023, she explored graduate-level business programs in New York City.  

Fordham’s high placement in the QuantNet Ranking of Best Financial Engineering Programs caught her eye, and so in August 2023, she enrolled in the Gabelli School of Business MS program in quantitative finance.

“I love financial markets. I think they’re really beautiful. The uncertainty in them is really charming,” said Wang, a native of Xiaogan, China.

Quantitative finance involves the use of mathematical models and extremely large datasets to analyze financial markets and securities. Practitioners need to be fluent in both computer programming, such as C++, and advanced math, such as stochastic calculus

It is traditionally a male-dominated field; nearly 80% of quantitative analysts are men. In fact, when Wang enrolled at the Gabelli School, she was one of only two women in her program.  This was a surprise to her, as her undergraduate classes were more evenly divided. But she was undeterred.

“I thought, ‘It doesn’t matter, women or men, we are just working on the same thing,’” she said. 

“Others might think, ‘This program is too difficult for a girl,’ but I love mathematics, I love finance, and this program is perfect for me.”

Wang is drawn to the fact that in the financial markets, profit is derived from uncertainty and that uncertainty brings a lot of different possibilities. 

“You can apply all your knowledge to the market, and you can see whether it works well; if it doesn’t, then you’ll know you need to learn something new that can fit well for this market,” she said.

“That’s where the beauty comes from.”

Wuhan boasts a population of 11 million people, so the transition to New York City wasn’t too difficult. Wang said she was able to quickly make friends with other Gabelli School master’s students from China; she recently visited the National Museum of Mathematics in Lower Manhattan with one of them.

Coursework Is Good Prep for Internship Interview

Wang says a course on derivatives was especially helpful because she learned how to evaluate and price options and futures.”

“The class sparked my interest in derivatives and really laid a solid foundation for a career in derivatives pricing in the future,” she said.

This summer, she’ll be a quantitative research intern at startup hedge fund SIMO Capital. She expects to graduate in May 2025 and hopes to find a job in the United States, ideally as a “desk quant” whose job is to implement pricing models and hedge the risks.

Qing Sheng, Ph.D., the director of the quantitative finance program, taught Wang in the class financial markets. She said math skills like Wang’s have taken on even more importance of late, as many other aspects of business can be delegated to AI tools.

“Having the math will set you apart from your peers. It’s not one of those things that ChatGPT can just figure out for you,” she said.

Sheng said she’s been encouraged by Wang’s willingness to contribute more to discussions in class.

“We had some conversations when she first started because she was pretty reserved, and I know her background. She had a lot more to give,” she said.

“You could literally see that she was talking herself into saying, ‘I’m going to ask questions, even if they may sound stupid.’ That’s very good for a female student to say, ‘I am going to take risks and not worry too much about how other people think about me.’”

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The Power of No: Lessons for Business Students https://now.fordham.edu/business-and-economics/the-power-of-no-lessons-for-business-students/ Thu, 25 Apr 2024 13:46:39 +0000 https://now.fordham.edu/?p=188947 Spring break is often a time when students relax and recharge.

Anthony Ambrose, a junior majoring in business administration at the Gabelli School of Business, spent his break trying to see how many times he could get rejected.

As part of a Gabelli School of Business course called Innovation and Resilience, taught by Julita Haber, Ph.D., Ambrose visited numerous places around his hometown of Moorestown, New Jersey, with the goal of hearing the word “no” at least 10 times.

Anthony Ambrose headshot
Anthony Ambrose

Could a local pretzel shop make him 500 pretzels in 10 minutes? No. Could he use a leaf blower inside a friend’s living room? No. He even asked an employee at Target if he could display clothes as a living mannequin. Also, no, but with a giggle.

“That was very uncomfortable for me. I even shed a tear when I asked for it because I felt I would be rejected. But before the Target employee rejected me, she smiled and giggled because I had that ounce of hope,” he said.

“I’ve never done anything like it before. It was pretty crazy.”

As part of her course, Haber required students to reach out to friends, family members, and strangers and make 21 bold requests that would result in at least ten rejections.

Because 7 in 10 new businesses will fail within three years, she said, entrepreneurs need to be accustomed to hearing the word “no”.

“Students sometimes have a hard time giving or getting feedback. They avoid a lot of confrontation, and they perceive the word no as negative. We need to strengthen them to be more capable to take no,” said Haber, an associate clinical professor.

“That is the foundation for entrepreneurship.”

Saying ‘No’ as Well as Hearing It

Julita Haber
Julita Haber

In a separate exercise, Haber pitched business ideas to students to get them used to the idea of saying “no” as well as hearing it.

“Students can have a really hard time both giving and receiving feedback. They’re very kind, and they avoid a lot of confrontation, so they perceive ‘no’ as a negative thing,” said Haber, who credited Gabelli School assistant professor Sophia Town, Ph.D., for the idea.

The exercises are part of an emphasis on learning five “discovery skills” described in The Innovator’s DNA: Mastering the Five Skills of Disruptive Innovators  (Harvard Business School, 2011), which students read for class. Those skills include associating, questioning, observing, networking, and experimenting.

Sometimes ‘No’ Is Really ‘Not Now’

For Ambrose, the exercise was illuminating. Occasionally, the “no’” he was looking for never came, such as when he went to a local Wawa and asked if he could have a free cup of coffee instead of paying $1.89. The clerk told him to go ahead and take it. And when he asked if he could intern over the summer at a local real estate brokerage, the answer was more like “not now” than “no.”

“The woman at the brokerage took my email, and she said she would keep me in mind if any internship came up elsewhere at any other company,” he said.

“I thought that was pretty cool. Just because you get rejected doesn’t mean that you’re totally cut off from something; it could open up more doors down the road.”

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Pitch Perfect: Perfecting Your Business Pitch https://now.fordham.edu/business-and-economics/entrepreneurship-101-how-to-perfect-your-business-pitch/ Wed, 21 Feb 2024 17:22:27 +0000 https://news.fordham.sitecare.pro/?p=182083 Pitching your business idea to the public isn’t easy. In this video, three experts from the Fordham Foundry—Executive Director Al Bartosic, Associate Director Shaun Johnson, and Entrepreneur-in-Residence Lauren Sweeney, co-founder of DeliverZero and a 2012 graduate of Fordham College at Rose Hill—explain how to effectively pitch your idea and earn the public’s trust.

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How Do You Bring a Business Idea to Life? https://now.fordham.edu/business-and-economics/how-do-you-bring-a-business-idea-to-life/ Wed, 21 Feb 2024 15:55:59 +0000 https://news.fordham.sitecare.pro/?p=182077 Everyone is an entrepreneur—they just don’t know it yet. 

That’s the philosophy of Albert Bartosic, executive director of the Fordham Foundry, a hub where Fordham community members learn how to launch and grow their own businesses. 

Most people already use the skills required for entrepreneurship in their daily lives, including pitching new ideas and working in a team, said Bartosic. What most people don’t know is that we are all capable of coming up with the next big idea—and bringing it to life. In a recent interview with Fordham News, Bartosic explained how to get there: 

Answer three key questions: What problem are you solving? How is that problem being addressed now? And why is your idea new, different, and better? “Why are people going to change their behavior and take your solution, as opposed to the solution that they’re using now?” 

Narrow your market. “The least successful thing you can do is say that your idea is for everybody. This won’t be successful, at least initially. Focus on a market that really needs this solution and is willing to pay for it.” 

Present something tangible. “If it’s a product, you can construct something using a 3-D printer. If it’s a service, you can try offering it to people on a test basis. You could use a GoFundMe or Kickster campaign if you need some money to put this together.” 

Survey your target demographic. “One shortcut is to construct a three-question survey and share it with your social media followers. You might get a small response rate, but you’re going to start to gather some data. That’s going to tell you if you’re on the right track. But don’t just talk to friends and family. They’re going to tell you, ‘You are brilliant, and this is the best thing I’ve ever heard of.’ You really want to speak with people in your target demographic who are friendly-adjacent—willing to give you both time and honest, valuable feedback.” 

Learn from the feedback—and try again. “It’s an iterative process. Take what you’ve learned and try it again, adjust it, and keep trying until you either know that you have a product that makes sense, or you don’t.” 

Learn from the process. “The skills and tools that you learn through entrepreneurship—how to sell an idea, how to get people to work with you, how to build a team, how to deal with setbacks, how to stay resilient in the face of failure—will help you, no matter what.” 

Finally, you need to convince the world that your idea is worth investing in. Watch a brief crash course video featuring Bartosic and other experts from the Fordham Foundry—Associate Director Shaun Johnson and alumna and Entrepreneur-in-Residence Lauren Sweeney—on how to pitch your idea to the public.

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5 Myths About Entrepreneurship https://now.fordham.edu/business-and-economics/5-myths-about-entrepreneurship/ Tue, 20 Feb 2024 20:20:49 +0000 https://news.fordham.sitecare.pro/?p=182058 Popular success stories about entrepreneurs often gloss over the challenges, tough decisions, and even failures that they’ve faced. As the entrepreneur-in-residence for the Fordham Foundry, and an entrepreneur herself, Lauren Sweeney, FCRH ’12, has seen this firsthand.

Sweeney is the CEO and co-founder of DeliverZero, a service that makes it easy for restaurants and grocers to offer customers the option to order in returnable reusable packaging, eliminating emissions and waste with every order. She’s also the entrepreneur-in-residence for the Fordham Foundry. Below, she shares five common myths about entrepreneurship.

Myth #1: Your startup idea has to be fully developed in order to launch.

Often aspiring entrepreneurs have a “really big vision of where they want to go,” but don’t have the resources to make that happen immediately.

Lauren Sweeney talks with Brandon Kim, FCRH ’15, at the Foundry’s 10th Anniversary event. (Courtesy of Lauren Sweeney)

“They’re like, ‘well I couldn’t start the next Uber for dog walkers,’ so then they just don’t start at all,” Sweeney said. “Whereas I think the best thing you can do is start in a smaller way that feels actually doable for you.”

By launching with a smaller product, Sweeney said, it allows them to get their idea out in front of customers and try different things before committing too much time and money. By engaging with customers early, she said they can learn more about the problem they’re working to solve in a timely manner and gain increased access to resources.

Myth #2: The first business idea is the best idea and never has to change.

Gathering customer feedback is incredibly important, Sweeney said, because it allows the entrepreneur to change course if they need to.

“The likeliest scenario—and this is the thing that really scares everyone—is that customer feedback is going to actually show you that you should pivot, which is a terrifying word for entrepreneurs, but also kind of the key to every successful outcome,” she said.

For example, her own business pivoted away from a “zero waste version of Grubhub” to a network
of reusable packaging that allows customers to access reusable packaging at all points of sale. This pivot
was due in large part to hearing customer feedback on how they would like to see the packaging waste problem solved in a bigger way.

One way for entrepreneurs in the Fordham community to start getting that feedback, she said, is to participate in activities and competitions, such as the Foundry’s Pitch Challenge.

Myth #3: All entrepreneurs are funded through venture capital or angel investors.

According to Al Bartosic, head of Fordham Foundry, and Sweeney, only between 1% and 5% of startups receive venture capital funding, meaning 95% of startups are not backed by venture capital funds. More than 70% of startups are funded through loans, personal savings, or friends and family, they said.

The amount of venture capital available to early-stage startups is also decreasing, according to Sweeney, particularly following an increase in interest rates. Before 2022, many venture capital firms were deploying capital at a faster rate, often into businesses with little or no market validation.

“I think what we’ve really learned in the last few years is that venture money really should only go towards companies with some proof of concept,” she said.

Myth #4: All entrepreneurs are immediate success stories and don’t have to work hard.

Sweeney said that before FTX failed, its founder, Sam Bankman-Fried—who has been convicted of fraud—was seen as “this mythological creature.” But the failure “reset a lot of thinking about what it means to be an entrepreneur.”

She said now there’s more of an “understanding that you have to put work in and that there are no overnight billionaires—and a ten-figure net worth might not be what you’re looking for anyway.” From the outset, she said it’s important to outline personal goals and what fulfillment means, and then work to meet that definition of success.

Myth #5: Entrepreneurs have to develop their business alone.

While entrepreneurship can at times feel isolating, Sweeney encouraged entrepreneurs and aspiring entrepreneurs to find community where they can. At Fordham, that can mean meeting fellow student entrepreneurs, guest speakers, and coaches at the Foundry.

“What spaces can you consistently show up in, just be welcomed in, maybe not even have to talk about entrepreneurship, but just be a human being near other human beings?” she said. “I think it’s important for entrepreneurs, especially because it can be such a lonely grind in the beginning.”

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Four Ways Everyone Can (and Should) Be an Entrepreneur https://now.fordham.edu/business-and-economics/four-ways-everyone-can-and-should-be-an-entrepreneur-2/ Wed, 14 Feb 2024 16:15:16 +0000 https://news.fordham.sitecare.pro/?p=181900 Dennis Hanno is a CEO, former college president, and clinical associate professor teaching several entrepreneurship courses at the Gabelli School of Business.

A headshot of Dennis Hanno
Dennis Hanno

He’s also a self-described Swiftie.

”That’s an entrepreneur. Taylor Swift fits all the parts of my definition,” Hanno said, adding that her creativity and innovative thinking are just as central to her brand as the music itself.

According to Hanno, entrepreneurship isn’t just about starting businesses—it’s a holistic mindset that can influence how someone approaches anything they do.

“It’s about looking at the status quo and saying, ‘How can we do things differently to achieve even greater success?’” he said.

Rather than looking to solely benefit oneself, Hanno stresses that true entrepreneurship is all about finding a problem that needs solving, and tackling it in a way that is unique to you.

The Entrepreneurial Checklist

What makes a successful entrepreneur? Hanno breaks it down into four parts.

1. Act on Your Ideas

“There’s so many people that have great ideas. There are so many times where people say, ‘Oh, those are great ideas, I wonder who’s going to do something about that.’ The entrepreneur has to act.”

2. Identify Opportunities

“Seek ideas wherever they are. Figure out a way to take action that aligns with your own values and skills so those become opportunities for you. How does that map with what your community needs or wants? An opportunity for you is going to be very different from opportunities for me.”

3. Analyze Everything

“Sometimes people think the Elon Musks of the world wake up in the morning and say, ‘I’ve got an idea, I’m just going to dive into it.’ And I would argue that Steve Jobs, Elon Musk, Bill Gates—they’re not that kind of person. They actually do analyze—and probably their greatest skill is to be able to analyze quicker than you and I can, to look at the landscape and say, ‘If I do this, I have a greater likelihood of success than if I do that.’”

4. Find Your Passion

“In both my undergrad and grad classes, we spend three hours talking about basically yourself—‘What’s really important to you? At the end of the day, what do you think about in terms of what you want to achieve?’ I think that helps people to focus on their values.”

“When I was a college student, I didn’t spend any time thinking about it. It was maybe 10 years later, I really thought, ‘You know what’s really important to me? Education.’ That’s when I shifted my pursuit because I had identified what my passion was, so I’ve never looked back.”

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Fordham Senior’s ‘Happy Accident’ Leads to Brand Deal with Bratz Dolls https://now.fordham.edu/colleges-and-schools/gabelli-school-of-business/fordham-seniors-happy-accident-leads-to-brand-deal-with-bratz-dolls/ Wed, 07 Feb 2024 21:34:28 +0000 https://news.fordham.sitecare.pro/?p=181642 Muskan Abdulhussein came to Fordham with big ideas.

Originally a marketing major, she also thought about going into fields like sustainability farming and fashion modeling before settling on finance.

Muskan Abdulhussein

Now a senior at the Gabelli School of Business, Abdulhussein hopes to combine her interests through Al Ameerat, her startup clothing brand that aims to empower women through modest and stylish fashion. Its debut collection is set to be released this spring with the aid of a surprising partner: Bratz dolls, the billion-dollar media franchise known for its outsized influence on youth fashion and culture.

“Nothing has gone [according] to plan,” Abdulhussein said of changing majors and landing her first big deal. “But it worked out.”

Abdulhussein has created eight original designs for women that will be modeled by select Bratz dolls and made available for purchase this spring.

Seizing Opportunities ‘in the Middle of the Night’

Al Ameerat’s initial rollout will focus on fashionable and affordable designs of the abaya, a religious garment commonly worn by women throughout the Middle East. Growing up between Tanzania and Dubai, wearing an abaya was commonplace for Abdulhussein. But in the U.S, she found limited offerings.

“In America, it’s very old style, traditional. But if you go to the Middle East…you’ll see such a big difference. It’s very flashy, it’s fun, it’s trendy,” she said.

Abdulhussein partnered with her friend Mira al Aqrabawi, based in Dubai, to collaborate on the business plan and manage operations on the ground.

A Bratz doll in jeans and gold top
A Bratz doll

It was an offhand comment between the two that sparked the breakthrough.

“I was telling her, ‘You look like a little Bratz doll,’” Abdulhussein said, conjuring the fashion-forward dolls of their youth. “And then I was like, ‘Wait, this is a great idea.’”

Abdulhussein did some research on the spot and messaged a Bratz representative for brand collaborations, emphasizing the opportunity to expand into a new market—modest fashion—while simultaneously demonstrating a commitment to diversity and inclusion. She didn’t expect to get a response at all—let alone a few hours later.

“It was a happy accident that took off literally in the middle of the night,” she said.

Now she and her partner are finalizing their collection to prepare for their spring launch with Bratz.

From the Classroom to the Market

A global business major with concentrations in finance, business economics, and fintech, Abdulhussein credits her classes and professors for her ability to execute her idea so quickly.

“I couldn’t have told you anything about how finance worked before I got here,” she said. “It’s hard to forecast sales for a company that doesn’t exist yet. My analytics class was really helpful because I was like, ‘Alright, I have to make this balance sheet balance.’”

When it came time to finalize her pitch, Abdulhussein drew from hands-on learning experiences like the Gabelli School’s Consulting Cup event.

But Abdulhussein stressed that the ability to make connections was the most rewarding part of her experience.

“My professors put me in touch with good people. They taught me how to network,” she said. “Toy companies aren’t too scary once you’ve been reaching out to all these JP Morgan people.”

Employing Women

Abdulhussein still has big ideas. She hopes to sell out the first collection, donate a percentage of profits to a worthy cause, and eventually have a fulfillment center fully populated by women.

For now, she spends her nights on Zoom clutching pieces of fabric and trying to communicate her vision to tailors on the other side of the globe.

“You have to be patient,” she said, reflecting on the design process—and the path that led there. “It’s not always going to work out on the first try.”

Follow Al Ameerat’s progress on Instagram @ameerat.abayas.

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Brazilian Student Combines Global Business with Art History https://now.fordham.edu/business-and-economics/brazilian-student-combines-global-business-with-art-history/ Mon, 29 Jan 2024 20:46:46 +0000 https://news.fordham.sitecare.pro/?p=181340 Julia Vilela was initially drawn to Fordham’s Gabelli School of Business at Lincoln Center because of its global business program and location in the heart of New York City.

“It’s amazing to be in a school that allows you to take advantage of being in New York,” Vilela said. “There’s something about the pace and person that New York attracts—it’s a driven individual who wants to be able to explore multiple interests.”

What she didn’t expect was that she’d get to explore a completely different interest as well—all while she made connections and secured a full-time position at Deutsche Bank.

Vilela, who’s a senior in the Gabelli School, said her background as an international student from Brazil helped inspire her to major in global business. But minoring in art history wasn’t something she saw coming.

“It’s one of the things that would have never crossed my mind if it wasn’t for the core curriculum,” she said. “Fordham is so good at giving us the opportunity to be exposed to and pursue disciplines we are passionate about. You don’t have to give up one over the other.”

After she took an introductory art history course, Vilela studied abroad at Fordham London, where she took a course on art and architecture. All the classes, she said, met in museums.

“It trains different parts of your brain,” she said of studying art history. “It wires you, in a way, to be very detail-oriented. Your critical thinking gets honed to a very sharp degree. It hones in a part of your brain where you’re constantly questioning things.”

Julia Vilela finishes classwork at the Gabelli School of Business at Lincoln Center.

From Art to Investment Banking: Asking the Right Questions

Vilela said she used some of those skills to stand out as when she interned at Deutsche Bank.

“Especially at a junior level you’re expected to ask questions,” she said. “I think the art history part my brain was incredibly helpful in that.”

Vilela will start as a sales, trading, and structuring analyst at Deutsche Bank following graduation. She credits Armani Nieves, GABELLI ’21, with helping her in the recruitment process. Nieves helped create networking events as a student, such as Finance Diversity and Inclusion Night.

“He mentors students from Latinx backgrounds into the investment banking recruitment process, said Vilela, who as part of her major is pursuing a concentration in global finance and business economics. “He connected me with Fordham alums who were incredibly supportive and helped me prepare for my interviews.”

Vilela said that she’s seen this level of support throughout her time at Fordham.

“Everything is so much smoother because everyone’s in it together.”

Business for Positive Change

Vilela also said that she appreciated the Gabelli School’s focus on business with a purpose.

“I got accepted into Ignite Scholars Honors Program—it’s for people who have a social entrepreneurship background who want to use business to affect positive change, which is very cool,” she said.

She also serves as an Angel Fund fellow at the Fordham Angel Fund, where she works to connect with Fordham entrepreneurs and vet their applications for funding.

“What’s cool about it is it’s not an undergrad club; it’s people from the Law School, MBA students, and undergraduates,” she said. “It’s also a really nice opportunity to learn from your peers—that’s what I love the most about it. You put a business student and a master’s in social work student and a law student together—the types of questions we’re asking these companies are very different.”

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Finance Exec Offers Gabelli Graduate Students Insights on AI, Investment https://now.fordham.edu/fordham-magazine/finance-exec-offers-gabelli-graduate-students-insights-on-ai-investment/ Mon, 08 Jan 2024 21:11:38 +0000 https://news.fordham.sitecare.pro/?p=180538 Veteran financial executive Peter Zangari, Ph.D., FCRH ’89, has some advice for students pursuing graduate degrees in business analytics and information technology, and it may surprise you.

You don’t need to dive headfirst into computer science and programming to succeed in those spaces, he told students in the Gabelli School of Business during a talk at Fordham’s Lincoln Center campus in November.

Zangari retired in early 2023 from his role as global head of research and product development at MSCI after more than 25 years in the finance industry. His retirement was a short one, though: Last month, he was named a partner and head of the Americas at MDOTM, a company that specializes in “AI-driven investment solutions.”

What AI Can—and Can’t—Do

During the student enrichment event, Zangari reflected on his professional experiences and shared insights on data analytics to help students better prepare themselves for careers in the industry. He said technology skills aren’t as critical to long-term success in finance as understanding how to apply technical tools like artificial intelligence.

“In this space, students should do their best to understand how people make investment decisions, and then learn about artificial intelligence—learn about what it can do, and what it is capable of doing—and then apply that to how investors make investment decisions,” he said.

He encouraged students to see AI as a partner, not a substitute for effective portfolio managers, and he said problems may arise when people “think [AI] can solve certain problems, like predicting the future, which I think is really a far-fetched idea.”

A Living Resource

The students in attendance said they were grateful for the opportunity to hear from an industry professional firsthand, peppering him with questions about trends, investment strategy, and his experiences with different employers.

“I’m really interested in finance and tech, and looking to go into that after I finish my master’s,” said Ruth Kissel, who is studying business analytics. “So I wanted to listen to a really experienced professional speak about those same topics.”

The M.S. in business analytics (MSBA) and M.S. in information technology (MSIT) programs are offered by the Gabelli School’s Information, Technology, and Operations area.

In the MSBA program, students learn to integrate analytics techniques, data management, information technology, modeling, and statistical analysis to become more effective analysts and informed users of business data. The MSIT program focuses on systems development, training students to gain the technical skills they need to excel in IT management positions. Grads of the two programs have gone on to work at companies including Amazon, American Express, Deloitte, JPMorgan Chase, and the Metropolitan Transportation Authority.

Zangari, who studied economics at Fordham, said he knows how vital it is for students to have access to alumni and industry professionals, so he spends “as much time as possible being available to students.” He’s an adjunct professor at Drew University in New Jersey, and at Fordham, he’s a member of the President’s Council, a group of successful professionals and philanthropists who are committed to mentoring Fordham’s future leaders, funding key initiatives, and raising the University’s profile.

“I see how the students kind of lean in,” he said. “When you tell a story about your career, you tell a story about your life because, in a nutshell, one’s career is a reflection of life.”

Zangari said that at Fordham, he had an opportunity to learn and work with “people from all different walks of life,” and it was invaluable.

It’s not all about the hard skills, he said. Everyone will have those, but “what makes an employee very attractive is someone who has super-interest in what they’re doing. They’re self-motivated. They’re resourceful.”

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Don’t Be Afraid to Make That First Call: Fordham Alumni Provide Mentorship and Advice https://now.fordham.edu/business-and-economics/dont-be-afraid-to-make-that-first-call-fordham-alumni-provide-mentorship-and-advice/ Wed, 11 Oct 2023 15:34:36 +0000 https://news.fordham.sitecare.pro/?p=177717 Jason Caldwell, GABELLI ’10, ’17, GSAS ’11, said that one of his biggest pieces of advice to students entering the job market is not to be afraid to make that first call or send that email.

When It’s Fordham Students, ‘I Always Answer’

“I get emails or LinkedIn requests from at least two Fordham students every day—and I always answer the call,” said Caldwell, executive director at JPMorgan Private Bank and member of the Fordham President’s Council. “Every job I’ve gotten since I graduated college has been through a Fordham alum, so I feel like it’s my duty to give back, wherever I can.”

Jason Caldwell speaks with students.

Caldwell spoke with Fordham students at the Oct. 2 President’s Council Executive Leadership Series Mentoring Event. The evening brought together senior students and young alumni with members of the President’s Council—a group of professionals and philanthropists who provide mentorship and support to students and the University—and guest mentors.

His friend Will Finn, GABELLI ’17, a managing director at PNC, took it one step further: “Once you meet someone, build a relationship—don’t just reach out to reach out, but do some research. See what their career has been, what their education has been, and try to touch on those points.”

The Value of Face-to-Face Networking

At the evening event held in Lowenstein’s 12th-Floor Lounge, students networked with the alumni and asked questions about their career paths while gaining interviewing tips and career advice.

Hector Cruz, a senior at Fordham College at Rose Hill majoring in math and computer science, is currently interning at Con Edison. He’s interested in staying in that field, working toward creating a greener energy infrastructure. He said the opportunity to hear from alumni was very helpful.

“This was a good chance, especially as a graduating senior, to really get to know people and further my career, as well as further my relationship with Fordham postgrad,” said Cruz, who is the president of the Commuting Students Association.

Student Hector Cruz talks with alumni.

For senior Emma Balint, the chance to connect in person was powerful, especially in the age of Zoom.

“I missed that component of getting to socialize with people face-to-face because I feel like that’s really where I thrive,” said Balint, who is majoring in psychology and minoring in bioethics at Fordham College at Rose Hill.

Finn said that he was glad students got to see the alumni network in action.

“I think networking is incredibly important within business, and people want to help each other, and that’s probably one of the best things about Fordham—the fact that people are willing to pick up that phone call,” he said.

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