Student’s View … Day on Wall Street
by David Hadizadeh '07C, '10MBA
A guided day on Wall St. to a business student is akin to a toddler
receiving candy – it is exciting, alluring and almost never happens
under normal circumstances. The business world is reeling from the
effects of the worst recession since the 1987 stock market crash
and the burst of the Dot-Com bubble. To learn about how companies
are managing in these tough times first-hand is definitely more
fascinating than reading about it in a book. And to have a chance
to network, market myself and gain opportunities that I did not
have before is more than welcome.
My day on Wall St. began when I arrived at St. John’s at 5:30 in
the morning to catch a bus to the city. Others like me were
prepared to taste just a little of what Wall St. and the business
world had to offer. After a relatively short bus ride, we arrived
at Fidelity Investments in the World Financial Center of Manhattan,
where 7:30 in the morning seemed like noon and bustling at most
other companies. There, accompanied by a very nice breakfast,
Executive Vice President Robert Adams '84CBA, '88MBA engaged us in
the workings of Fidelity. He stressed to us that innovation and
operating at a high level of integrity compliments a fast-paced and
high demand environment – one where it is professional and
respectful. As an MBA in Accountancy, this hit home. Ethics and
professionalism in the workplace is all too important in my field,
especially in the wake of the Bear Stearns and AIG scandals. More
important, I was pleased to see that these ideals were active and
prominent in a St. John’s alum.
After Fidelity, our group headed to the New York Stock Exchange to
meet Steve Wheeler, Director of Corporate Giving, Archives and
Educational Services. Here, Mr. Wheeler gave us the run-down on how
corporate buying and selling of securities has changed over the
years. I was enveloped by the history of the building, and could
not quite grasp the magnitude of importance of the decisions made
behind the doors at the Exchange. Mr. Wheeler probably has a sense
of this from most of the participants, which is why we proceeded to
the Member’s Gallery to view, from an overlook, the Exchange floor.
Although it wasn’t a particularly busy trading day, fascination
took hold as we watched commissioned and specialist traders working
hard below us.
Our next location was the Depository Trust & Clearing
Corporation located at 55 Water Street, New York City’s largest
office structure. Here we met with a very energetic and
enthusiastic alum, William Corrigan '92SVC, '02MBA. Mr.
Corrigan is a manager in the Learning Application Department at
DTCC and moderated a panel of four, including Louis Colombo, VP of
Core Systems Technology, Patrick Holton a manager of staff
development, and Brenda Williams, Director of Leadership
Development. DTCC is responsible for ensuring and guaranteeing that
transactions made with bonds, money-market instruments, equities
and more are cleared and processed. Furthermore, DTCC’s vault
provides protection and custody of securities in the United States
and 110 other countries, all worth about $28 trillion. This
view was a true 'insider’s view’ of what happens after decisions
are made on the Exchange floor.
The last stop was in the same building, about 30 floors up.
Standard & Poors has, for over 150 years, been a leader in
providing market intelligence and informed investment decisions to
its customers. Furthermore, S&P is a leading provider of market
indices: The S&P 500. Owen Ruhnke '89CBA is a Vice President of
Finance at Standard and Poors and spoke to us regarding searching
for a career. I was keen to notice a constant theme – the
importance of diligent and creative networking. Mr. Ruhnke informed
us that having a great gpa and a strong resume is simply not
enough. Networking is the missing factor in the equation of a
successful career search. And lucky for my group, we had the
perfect opportunity to do just that at the evening reception and
dinner.
The night concluded with a beautiful reception and dinner that
included alumni, St. John’s staff and administrators, fellow
students and various company representatives and leaders. As both
graduate assistant and MBA student, I worked the room, asking for
advice, pitching my qualifications and making new
relationships. It is certainly a benefit to utilize services
such as a career center at a university, but to have the ability
actually meet, mingle and market yourself to potential employers
and other business people is an opportunity worth seizing. Now, I
just await the next occasion where I can do the same.