Hosted by the Babson Investment Banking Association Friday ... · Hosted by the Babson Investment Banking Association . Friday, September 20, ... Day in the Life of a Summer Analyst

Hosted by the Babson Investment Banking Association

Friday, September 20, 2013

Conference Materials

1st Annual Babson Investment Banking Conference 2013 Conference Day Agenda – Babson College

Time Event Location

9am – 9:30am Continental Breakfast and Registration

Knight Auditorium

9:30am – 9:35am Opening Remarks: Dr. Kerry Healey, President, Babson College

9:35am – 10:30am Keynote 1: Brian T. Moynihan, Chief Executive Officer, Bank of America

10:45am – 11:45am

Panel 1: Trends and Opportunities in Leveraged Finance • Adam Cady, MD, BAML • Anthony LoGrippo, MD, Jefferies • Len Sheer, Co-Head of DCM, Cowen Group • Michael Dolce, VP, BAML • Moderator: Ryan Davies, Associate Professor of Finance,

Babson College

Olin Auditorium

Panel 2: Day in the Life of a Summer Analyst • Alberto Sarfaty, Credit Suisse • Cheska Mauban, BAML • Chia Chou Pan, BAML • Paul Kim, Société Générale • Rodrigo Costa, Goldman Sachs • Sarah Whitaker, Piper Jaffray • Moderator: Caroline Hayes, Associate Director, Babson

Undergraduate CCD

Olin 120

12:00pm – 1:00pm Keynote 2: Rebecca Shaghalian ‘91, Head of International Sales and Execution Services, Goldman Sachs

Knight Auditorium

1:00pm – 2:00pm Catered Networking Lunch

Knight Lawns | Rain Location – PepsiCo Hall

2:15pm – 3:15pm

Panel 3: Mergers and Acquisitions Process and Expectations • Adam Cady, MD, BAML • Benjamin Perkins, Partner and Senior MD, Ernst & Young • Jay Hernandez, Director, Harris Williams • Kevin Brunner, MD, BAML • Moderator: Michael Goldstein, Professor of Finance, Babson

Olin Auditorium

Panel 4: Landing a Career in Investment Banking • Anthony LoGrippo, MD, Jefferies • Michael Dolce, VP, BAML • Dan Schultz, VP, Capstone Partners • Moderator: Megan Houlker, Director, Undergraduate CCD

Olin 120

3:30pm – 4:30pm Catered Networking Reception

Needham-Wellesley Room in Olin Hall

1st Annual Babson Investment Banking Conference 2013

Message from the Babson Investment Banking Association

Dear Conference Participants: Thank you for joining us at the 1st Annual Babson Investment Banking Conference hosted by the Babson Investment Banking Association (BIBA). We are proud to bring industry leaders, students, faculty, and alumni together for an engaging discussion on investment banking. BIBA is a student organization whose role is to increase awareness of the different facets of investment banking for the Babson community and beyond. BIBA is delighted to welcome you to Babson College for this exciting occasion. Babson College has a great tradition and storied history in the area of finance. Roger W. Babson, who made his name as an investment professional, now is remembered for the college that he founded and that bears his name. Today, more than a quarter of Babson students enter a finance-related field post graduation, BIBA strives to help prepare these students at Babson and the surrounding schools for a profession in the financial services industry and to strengthen the bond between students and alumni. We hope you find this conference succeeds with these goals. The conference has brought together more than a dozen leading professionals, from Bank of America to Goldman Sachs. The topics include: leveraged finance, mergers and acquisitions, talent in the industry, and summer analyst programs- all with the overarching theme of the future of investment banking. Enjoy the day. We welcome your feedback and hope to see you at future BIBA events. Sincerely, Babson Investment Banking Association


Opening Remarks

Kerry Healey is President of Babson College, a worldwide leader in entrepreneurial education. From 2003-2007, Dr. Healey served as the 70th Lieutenant Governor of Massachusetts. From 2009-2013, Dr. Healey was Founding President of the Friends of the Public-Private Partnership for Justice Reform in Afghanistan, a non-profit promoting rule of law by educating and networking leading young Afghan lawyers and judges. She currently serves as a trustee of the American University of Afghanistan. Dr. Healey holds an AB from Harvard College, and a PhD from Trinity College, Dublin.

Dr. Kerry Healey, President of Babson College


Keynote 1

Brian T. Moynihan is the Chief Executive Officer of Bank of America. He was elected to his role by the Board of Directors on December 16, 2009, and took office on January 1, 2010. Moynihan also is a member of the Bank of America Board of Directors. Moynihan leads one of the world’s largest financial institutions. Bank of America serves consumers, businesses of all sizes and institutional investors with a full range of banking, investing, asset management and other financial and risk management products and services. The company serves more than 52 million consumer and small business relationships with approximately 5,400 retail banking offices, 16,300 ATMs, award-winning online banking with 30 million active users and the number one mobile bank with more than 12 million users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves corporate, institutional and individual clients through operations in more than 40 countries. Under Moynihan’s leadership, Bank of America is building on its leadership position in community development, philanthropy and environmental initiatives. The company is working toward achieving three major public goals: a 10-year, $1.5 trillion community lending and investing goal; a 10-year, $2 billion philanthropic giving goal; and a 10-year, $50 billion goal for lending to and investing in environmental initiatives. Moynihan has led Bank of America’s Global Diversity and Inclusion Council, a group of senior executives from across lines of business, since 2007. His direct support of diversity and inclusion initiatives across the bank has been instrumental in creating an inclusive work environment that is consistently recognized by third parties as one of the best in corporate America. The bank continues to gain recognition as a top employer by Working Mother, Black Enterprise, DiversityInc, G.I. Jobs, Hispanic Business and LATINA Style magazines; scored a 100 percent rating on the Human Rights Campaign Corporate Equality Index for policies beneficial to lesbian, gay, bisexual and transgender associates; and was named an “adoption-friendly workplace” by the Dave Thomas Foundation for Adoption. Moynihan joined Bank of America in 2004 following the company’s merger with FleetBoston Financial. In 2010, he was elected a trustee of the Corporation of Brown University.

Brian T. Moynihan, Chief Executive Officer, Bank of America


Panel 1: Trends and Opportunities in Leveraged Finance

Adam Cady is a Managing Director in the Global Leveraged Finance Group for Bank of America Merrill Lynch. Mr. Cady leads the Consumer & Retail industry vertical within Leveraged Finance. His team is responsible for the origination, structuring and syndication of high yield bonds and bridge loans, and syndicated bank debt. Prior to assuming his current role in 2011, Mr. Cady was previously a senior member of the Leveraged Acquisition Finance Group, focusing exclusively on transactions for financial sponsors. He joined the firm in 1996 as a member of the Leveraged Finance team. Mr. Cady earned a Bachelor of Science in Entrepreneurial Studies and Finance from Babson College.

Anthony LoGrippo is a Managing Director and Head of Leveraged Loan Sales and Trading at Jefferies. In addition to these responsibilities, Anthony leads the syndication effort of new issue loan transactions for the firm. Prior to joining Jefferies in 2009, Anthony worked for eleven years at Deutsche Bank and was most recently head of par loan trading. Previously, he was a Director in the Leveraged Portfolio Group at Bankers Trust. Mr. LoGrippo started his career at The Chase Manhattan Bank (Now JP Morgan) and received a BBA in Banking and Finance with Highest Honors from Hofstra University.

The panel will shed light on how leveraged finance works as an important product within an investment bank. The leveraged finance industry has been in the spotlight lately given the historically low interest rates and other industry dynamics. Hear from industry leaders about one of Wall Street’s most profitable products.

Adam Cady, Managing Director, Bank of America Merrill Lynch

Anthony LoGrippo, Managing Director, Jefferies



Len Sheer is Co-Head of Debt Capital Markets at Cowen & Company. Mr. Sheer has more than 17 years of experience in the financial services industry. His background includes high yield, private placements, liability management and merger and acquisition advisory roles in a wide variety of industries. Prior to joining Cowen, Mr. Sheer was a Managing Director in Debt Capital Markets Origination Group at Gleacher & Company focusing on high yield financings and liability management transactions. In addition, Mr. Sheer held positions as a Senior Analyst at Pardus Capital, a hedge fund based in NYC focused on investing in debt and equity, and as a Vice President at Lehman Brothers, focusing on M&A advisory assignments. Mr. Sheer earned his BS in Finance and Economics from Babson College in 1996.

Michael Dolce is a Vice President at Bank of America Merrill Lynch. He joined the firm in 2005 and has spent his career focused in Leveraged Finance. Mr. Dolce is responsible for all leveraged finance activities which includes origination, advising and executing bank loan and high yield bond financings for corporate clients and financial sponsors, including LBOs, refinancing, M&A transactions and restructurings. Over the past two years, Mr. Dolce has served in the capital markets group. Mr. Dolce graduated from Babson College in 2003.

Len Sheer, Co-Head of Debt Capital Markets, Cowen Group

Michael Dolce, Vice President, Bank of America Merrill Lynch



Professor Ryan Davies is an Associate Professor of Finance at Babson College and the Faculty Director of the Stephen D. Cutler Center for Investments and Finance. He teaches undergraduate and graduate courses on security valuation, capital markets, and fixed income and structured products. He is also the faculty advisor for the very successful Babson trading competition team. His research interests include price discovery and trading behavior in financial markets, the measurement of trade execution costs, trade-based manipulation of closing prices, and financial market regulation. He has published numerous well-cited academic articles and has been invited to present his research at universities in the U.S., Canada, U.K., France, Australia, and New Zealand.

Moderator – Ryan J. Davies, Ph.D., Associate Professor of Finance, Babson College


Panel 2: Day in the Life of a Summer Analyst

Cheska exerts her leadership as a proud Posse Scholar and Resident Assistant. She was previously a Summer Analyst at Bank of America Merrill Lynch and an IT Intern at Moody’s Corporation. Finance, economics, politics, and world problems are the focus of her learning. She enjoys sports, the outdoors, shopping and laughing.

Current students that recently served as Summer Analysts at prominent investment banks will explore their experiences interning at their respective firms and will provide insight into the dynamics of their workplaces. From pre-internship training to an analysis of the average day, the goal of this panel is to provide an overview of a summer on Wall Street. Alberto Sarfaty, Summer Analyst, Credit Suisse

Cheska Mauban, Summer Analyst, Bank of America Merrill Lynch

Chia Chou Pan is a senior at Babson College studying finance and leadership. He interned at Bank of America Merrill Lynch’s investment banking group in New York City this summer. He is passionate about building financial models, studying the market and executing deals. In school, Chia is involved in Student Government Association, Chinese Student Association, Rocket Pitches A Cappella Group and Babson Dance Ensemble.

Chia Chou Pan, Summer Analyst, Bank of America Merrill Lynch

Alberto has worked in banking throughout his college career. He has worked at BTG Pactual, the largest private Latin American investment bank, and this past summer with Credit Suisse's Latin American group. He is also part of the Babson College Fund and is a senior at Babson.


Panel 2: Day in the Life of a Summer Analyst

Paul is concentrating in Finance and Economics at Babson and expects to graduate in May 2014. He is president of Delta Sigma Pi and serves as a senior advisor for the Babson Asian Pacific Student Association. The past two summers, he worked as a derivatives analyst at Société Générale.

Paul Kim, Summer Analyst, Société Générale

Rodrigo spent the last two summers in the Investment Banking Division of Goldman Sachs’ Consumer Retail Group in New York. In his past two years at Goldman Sachs he had the chance to work on an array of mergers and acquisitions, financing and other transactions. He will be returning as a full-time analyst in Goldman Sachs 2014 Analyst Class.

Rodrigo Costa, Summer Analyst, Goldman Sachs

Sarah is a senior at Babson and will start her career following graduation at Piper Jaffray in Minneapolis as an Investment Banking Analyst in the Medical Technology Group. At Babson, Sarah is the captain of the varsity women's tennis team and is in the Women's Leadership Program and the Honors Program.

Sarah Whitaker, Summer Analyst, Piper Jaffray

Caroline joined the Center for Career Development in 2010 as the Employer Relations Manager where she established and maintained relationships with employers interested in recruiting Babson talent. Caroline earned her B.A. in English from Loyola Marymount University and is currently pursuing her M.B.A. from Babson College.

Moderator - Caroline Hayes, Associate Director, Babson Undergraduate Center for Career Development


Keynote 2

Rebecca is head of the International Sales and Execution Services business in the United States at Goldman Sachs. Previously, she was co-head of Americas Equity Derivative Sales for the Securities Division. Rebecca began her career at Goldman Sachs as an associate in Equity Derivative Sales in 1998. After eight years in sales, she led the North American Equities Management team for both sales and trading and then co-managed the Global Institutional Sales force. Rebecca was named managing director in 2005 and partner in 2008. Rebecca serves on the Board of Directors for the Make-A-Wish Foundation of Metro New York, is a member of the Advisory Council for the Johnson Graduate School of Management at Cornell University, and is on the Board of Directors for the Armenian Church Endowment Fund. She is also a member of the President's Council of Cornell Women. Rebecca earned a BS in Business from Babson College in 1991 and an MBA from the Cornell University Johnson School of Management in 1998.

Rebecca Shaghalian ‘91, Head of International Sales and Execution Services, Goldman Sachs


Panel 3: Mergers and Acquisitions Process and Expectations

Adam Cady is a Managing Director in the Global Leveraged Finance Group for Bank of America Merrill Lynch. Mr. Cady leads the Consumer & Retail industry vertical within Leveraged Finance. His team is responsible for the origination, structuring and syndication of high yield bonds and bridge loans, and syndicated bank debt. Prior to assuming his current role in 2011, Mr. Cady was previously a senior member of the Leveraged Acquisition Finance Group, focusing exclusively on transactions for financial sponsors. He joined the firm in 1996 as a member of the Leveraged Finance team. Mr. Cady earned a Bachelor of Science in Entrepreneurial Studies and Finance from Babson College.

Benjamin Perkins is a Partner and Senior Managing Director at Ernst and Young. He has 15 years of lead-, co- and exclusive advisory experience in the Life Sciences sectors. He has worked with leading pharma, medtech and diagnostic companies on equity and debt financings, merger and acquisition transactions and partnership structuring. Ben joined Ernst & Young from Merrill Lynch, where he served as a Managing Director leading the West Coast Life Sciences practice. Ben graduated from Babson College in 1997.

Industries are defined, reinvented, and shaped by acquisitions and combinations of companies. With deals running into the multi-billion dollar figures, M&A is one of the key drivers of investment banking activity. The Mergers and Acquisitions panel will provide a high-level oversight of the current state of this field and will delve into an analysis of its future performance.

Adam Cady, Managing Director, Bank of America Merrill Lynch

Benjamin Perkins, Partner and Senior Managing Director, Life Sciences Mergers and Acquisitions, Ernst & Young



Mr. Hernandez is a Director in the Industrials Group at Harris Williams & Co., with a focus on companies within the test, measurement and control sectors. Mr. Hernandez has advised both public and private middle-market companies in a variety of merger and acquisition, capital raising, and strategic advisory assignments. Prior to joining Harris Williams & Co., Mr. Hernandez was an Assistant Vice President within the debt capital group at Fleet Capital Corporation and was a Senior Associate within the audit and transaction services groups at PriceWaterhouseCoopers, LLP. Mr. Hernandez earned an M.B.A. from the Robert Emmett McDonough School of Business at Georgetown University and a B.S. in Accounting and Finance from the University of Arizona. He is a Certified Public Accountant.

Kevin Brunner is a Managing Director in the Mergers & Acquisitions group at Bank of America Merrill Lynch, leads the Technology, Technology Services and Business Services M&A practices and is a member of the Firm's Fairness Committee. Mr. Brunner's substantial transactional experience includes counseling both domestic and international clients on public and private company transactions such as acquisitions, divestitures, joint ventures, strategic minority investments, proxy contests, special committee assignments and hostile transactions. Mr. Brunner received a B.B.A. from the University of Michigan and an M.B.A. from the Wharton School of Business at the University of Pennsylvania. He is a Certified Public Accountant.

Jay Hernandez, Director, Harris Williams

Kevin Brunner, Managing Director, Bank of America Merrill Lynch



Dr. Goldstein is a Professor of Finance and Chair of the Finance Division at Babson College. He has taught in the undergraduate, MBA, and Executive Education programs. He has also taught at Boston College and at the University of Colorado at Boulder, where he received the Proctor & Gamble Teaching Excellence Award. He served as Chair of the NASDAQ Economic Advisory Board for 2005. From August 1997 to July 1998, Dr. Goldstein was the Visiting Economist at the New York Stock Exchange, the eighth academic to hold this one-year post. Prior to this position, he advised the Deputy Prime Minister of Poland on Poland's privatization program, and served on an SEC roundtable. He also worked as an Investment Banker with Merrill Lynch Capital Markets in their Financial Institutions and Japan Banking groups. He also consults and advises major security firms and Fortune 100 companies. Dr. Goldstein is also the Chair of the Economic Advisory Committee of the Financial Industry Regulatory Authority (FINRA).

Moderator – Michael A. Goldstein, Ph.D., Professor of Finance, Babson College


Panel 4: Landing a Career in Investment Banking

Anthony LoGrippo currently is a Managing Director and Head of Leveraged Loan Sales and Trading at Jefferies. In addition to these responsibilities, Anthony leads the syndication effort of new issue loan transactions for the firm. Prior to joining Jefferies in 2009, Anthony worked for eleven years at Deutsche Bank and was most recently head of par loan trading. Previously, he was a Director in the Leveraged Portfolio Group at Bankers Trust. Mr. LoGrippo started his career at The Chase Manhattan Bank (Now JP Morgan) and received a BBA in Banking and Finance with Highest Honors from Hofstra University.

How do investment banks select candidates for entry-level jobs from thousands of applicants? In an industry with such highly coveted positions, prospective investment bankers have to position themselves in a manner that makes them stand out. In this panel, the speakers will provide an insider’s view on the recruiting process and how to successfully navigate it and will analyze the traits the finest Summer Analysts possess. For anyone interested in breaking into the industry, this will be an opportunity to have your questions answered and to gain insights that could give you a competitive advantage over other banking aspirants. Anthony LoGrippo, Managing Director, Jefferies

Michael Dolce is a Vice President at Bank of America Merrill Lynch. He joined the firm in 2005 and has spent his career focused in Leveraged Finance. Mr. Dolce is responsible for all leveraged finance activities which includes origination, advising and executing bank loan and high yield bond financings for corporate clients and financial sponsors, including LBOs, refinancing, M&A transactions and restructurings. Over the past two years, Mr. Dolce has served in the capital markets group. Mr. Dolce graduated from Babson College in 2003.

Michael Dolce, Vice President, Bank of America Merrill Lynch


Panel 4: Landing a Career in Investment Banking

Dan oversees Capstone’s national business development and industry coverage activities, working closely with current and prospective clients of the firm on matters related to corporate sales, recapitalizations, mergers & acquisitions and growth financings. In his role, Dan is able to deliver specific market intelligence to clients regarding M&A, financing, strategic, industry and competitive trends. Dan also gained hands-on transaction experience as an investment banker at Headwaters MB. He started his career with Ernst & Young’s National Professional AABS practice in New York and later worked in Assurance and Advisory Business Services in the Denver office. Dan received a BE in Biomedical Engineering with a Business Minor from Vanderbilt University. He earned an MBA and a Master of Accountancy from the Daniels College of Business at the University of Denver.

Megan Houlker has served as the Director of the Undergraduate Center for Career Development since 2006. She provides leadership for the delivery of all career development, employer relations, and experiential education for Babson undergraduate students and alumni. Megan began her recruiting career in the corporate sector as the Global Recruiting Manager for Bear, Stearns & Co. Inc. where she led the investment banking division’s undergraduate recruitment efforts. Megan earned her Bachelor’s Degree in English from Fordham University and her Master’s in Business Administration from Babson’s F.W. Olin Graduate School of Business.

Dan Schultz, Vice President, Capstone Partners

Moderator – Megan Houlker, Director, Babson Undergraduate Center for Career Development


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Conference Committee

Babson Investment Banking Association Leadership Sid Kapur ‘14, President

Philip von Koss ‘14, Executive Vice President Joshua Blond ‘15, Vice President of Communications

Christopher LoGrippo ’16 , Co-Vice President of Marketing Lisa Chen ‘16, Co-Vice President of Marketing

Sanjay Zimmermann ‘15, Vice President of Finance Jacob Vick ‘15, Student Government Association Representative

Cutler Center Mark D’Annolfo, Managing Director, Cutler Center for Investments and Finance

Ryan J. Davies, PhD, Faculty Director, Cutler Center for Investments and Finance Karl Honerlaw, Program Coordinator, Cutler Center for Investments and Finance

Special Thanks Laurie Krigman, PhD

Michael Goldstein, PhD Undergraduate Center for Career Development

Tracee Petrillo Kathryn Shilling Alisha Cahue

Babson Student Government Association Babson College Facilities Team

Sodexo Catering Team Babson College Media Services

Babson Investment Management Association BIBA Volunteers

And a special thank you to all of our guest speakers and alumni.

Thought Leadership, Education, Mentoring

Congratulations to the Babson

Investment Banking Association

on a great Conference!

The Stephen D. Cutler Center for Investments and Finance at Babson

College is dedicated to advancing the understanding and practice of

investments and finance in our global economy. The Center provides

programs and resources that enrich student experience, support faculty

research, and engage our alumni community. It is committed to furthering

Babson’s innovative and practical approach to finance education and

enabling industry practitioners, faculty, and students to collaborate and

learn from one another.

babson.edu/cutlercenter

Hosted by the Babson Investment Banking Association

Friday, September 20, 2013

A Special Thank You To

Len Schlesinger, President, Babson College 2008 - 2013

Documents

Hosted by the Babson Investment Banking Association Friday ... · Hosted by the Babson Investment Banking Association . Friday, September 20, ... Day in the Life of a Summer Analyst