Alum Jonathan Hughes led a roundtable discussion this week about Goldman Sachs and the upcoming recruiting season for both full time positions and summer internships. Stonehill senior, Dan Doherty, provided interesting insights about his experience this past summer in New York. Upon completion of the internship program, Dan accepted an offer to join the firm full time when he graduates this May.
Members of the Finance and Accounting Departments of John Hancock Insurance and Wealth Management were on hand this evening to discuss roles and careers at the firm in time for the upcoming recruiting season. The company offers an interesting variety of internship and post-graduate positions in the accounting and finance fields.
Stonehill College’s FMA chapter is pleased to announce that it has been honored as a Superior Chapter by the FMA International. This is the third year in a row that the College has received this honor and is among a select group of chapters worldwide to have been designated as a Superior Chapter. The highest honor for an FMA Student Chapter or Honor Society is the attainment of the Superior Chapter designation. Of the over 200 active student chapters, less than 10% receive this honor each year. Congratulations go to Jim Scanlan and his executive team for their outstanding effort. “This year we had some great speakers and really interesting field visits including a trip to Ocean Spray where we learned about farming co-op business structures and the challenges of selling consumer products”, said Jim. We are looking forward to another great year in 2014-15.
Stonehill College is pleased to announce that seven students of the class of 2014 were inducted into the FMA International Honor Society. Students majoring in finance with a minimum GPA of 3.5 in finance and a minimum overall GPA of 3.25 are eligible for this special honor. This year’s inductees included:
Thomas A. Banks
Charles J. Bradford
Michael R. Frick
Casey E . Mathews
Stephanie C. Powers
Kyle J. Randall
Brandon M. Sturtevant
Congratulations for this wonderful achievement!
The FMA welcomed to campus in early April Frank M. Loehmann, Jr., Chairman & CEO of Resources Management Corp (RMC). RMC is a fee-based registered advisory based in West Hartford, CT that traces its roots to the early 1970’s where it primarily served the interests of John G. Martin, entrepreneur and Chairman of The Heublein Corporation. Mr. Loehmann in his introduction took a moment to share with us some of the history of the Corporation and brought with him some of the familiar products that the company developed since it was founded back in the 1870’s. Those products included A1 Steak Sauce, Smirnoff Vodka, and Grey Poupon, just to name a few.
Mr. Loehmann began his career as an auditor and earned his CPA shortly after earning his MS in Accountancy from Northeastern University. But it was not long before he started his career that he was asked to assist in the management of the assets of The Heublein Corporation by Mr. Martin. It was a different time and a different world than the students in attendance could imagine. To say that all were fascinated and thrilled by the presentation is an understatement. Our thanks to Mr. Loehmann for taking the time to make the trip from Hartford and join us for the evening.
For our second field trip this academic year, FMA members thought it would be interesting to visit Lakeville, MA based Ocean Spray, the market leader in cranberry-based consumer products. And with the cooperation of Ms. Kellyanne Dignan, Manager of Corporate Communications for Ocean Spray, we journeyed about 20 minutes south to its corporate headquarters to spend a few hours exploring the business dynamics of cooperative farming. Cooperative farming has a unique corporate structure and tax policy that is rarely explored by undergraduate corporate study. It is nonetheless big business for Ocean Spray. The company controls about 60% share of the global cranberry farming market and unlike independent cranberry farmers its members share in the value of the end product sales. A discussion about the business and Ocean Spray was led by Jon Cowell, Director and Corporate Controller of the company. Much of what was discussed related to the organization structure of the company. As a private company, details of its financials are proprietary. Nonetheless, much was learned about this very well managed and very successful company. We estimate its cooperative members earn as much as four times the value of a barrel of cranberries relative to independents. The difference relates largely to participation in end product sales.
Will Husic represented Stonehill and the FMA at the RISE 2014 conference this past March in Dayton, Ohio. This was the first year that Stonehill has sent a representative to the Redefining Investment Strategy Conference in Dayton thanks in large part to a grant received from Eastern Bank. Coverage of the conference was global as CNBC brought a team of journalists to moderate the impressive line up of panelists during the professional day on Thursday. The network also broadcast interviews from the Dayton University arena as part of its programing on Thursday morning and afternoon. Host of CNBC Mad Money and founder of TheStreet, Inc., Jim Cramer kicked off the morning sessions with a live feed from New York addressing the guests and responding to questions by the audience. Keynote Speakers included Sandra Pianalto of the Cleveland Federal Reserve Bank and John Rogers, President and CEO of the CFA Institute. Events on Friday and Saturday morning focused more on portfolio management with presentations led by professionals, faculty and students that participate in student run investment funds. Will was selected as part of the 2014-15 SCIFI Mary Herlihy Opportunity Fund student managers and gained numerous insights on investment research, evaluation and portfolio management strategies. He is eager to share the ideas and put some into action in the coming months. Student run funds also competed in performance competitions with awards handed out to the top performers in various categories on Saturday morning. We hope that one day soon we will be able to share in this success and pick up a few awards for our fund along the way.
The FMA Chapter at Stonehill sponsored a field trip to technology giant EMC in Hopkinton on February 7th to meet with alumni to gain better insights on the company and discuss its Financial Training program. Special thanks to Stonehill alum Kevin Bridgeo and EMC employees Mara Barteck and Katie Swank for pulling together what was a interesting and informative program for Stonehill finance and accounting majors. The featured speaker was financial executive Pat Collins who provided an interesting overview of finance at EMC. Also in attendance and heading a Q&A panel session where Stonehill alumni Katerine Moan, Douglas Carter, Corey Adams and Vanessa Egan. Stonehill College has had a long standing relationship with EMC especially in Finance and Accounting with the assistance of outstanding alumni like Kevin Bridgeo. The panel of recent alums talked about their experience at the company, its commitment to training and education and the overall corporate culture of EMC. Student Q&A was very active with a focus on the transition from Stonehill to EMC, how students should think about leveraging their Stonehill education while in school, things to consider when seeking internships and the path to better post graduate finance opportunities. Our thanks to all that participated in the field visit and especially all the folks at EMC.
The student leadership of the Stonehill Chapter of the FMA honored Stonehill alum Gene Cassis this year as FMA Outstanding Financial Executive. A strong supporter of our College and our efforts in the FMA, Mr. Cassis became Chief Financial Officer of the Waters Corporation in February 2014. Since 2001 he served as Corporate Vice President of Business Development and Investor Relations. After joining Waters in 1980, he held several management positions in operations and product development, including: President and Representative Director of Nihon Waters K.K. (Tokyo, Japan) and Mass Spectrometry Business Unit Manager. Gene was kind enough l to host the FMA chapter last year as we visited the Waters Corp. in Milford. Students learned insights on the financial management process as well as first hand observation of the manufacturing of high end life science discovery machines. Our sincerest thanks to Gene for his commitment to the College and the FMA.