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Message
From The Dean....
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In the January newsletter, I mentioned that the
College and the Accounting department were re-accredited and in a
nationwide study of private and public institutions, SmartMoney
magazine ranked URI 15th in the country for value. Well the good
news continues. An article, "Business Students Speak
Out", in the April edition of Entrepreneur Magazine, ranked our
accounting program among the top 15. The results were based on a
survey of more than 19,000 current business school students conducted
by The Princeton Review. This article recognizes what we have
known for years, that we have an outstanding accounting program.
This accomplishment is a testimony to the hard work of our faculty and
outstanding achievements of our graduates.
Ironically, the faculty spotlight newsletter focuses on accounting
Professor Henry Schwarzbach, while the student spotlight is on
accounting major Christopher Trudeau. Our What Happened To?
segment highlights accounting Professor Emeritus Richard Vangermeersch
and the Alumni Spotlight is on Scott Carter. I think you will find
each of these stories to be very interesting.
As
we head into April, the final month of classes for the academic year,
there seems to be an event happening every day. On Sunday April
5, we will host our annual student and faculty awards banquet.
While Homecoming, the Distinguished Achievement Awards and graduation
are all major campus events, this event is special because it focuses
solely on outstanding accomplishments of College of Business faculty
and students. On April 7, the College is sponsoring the Rhode
Island Financial Services Symposium. Our keynote speaker is
Martin Gruenberg, the Vice-Chairman of the FDIC. I hope those of
you in the area will be able to attend. On April 22, we will host
the 2nd Annual MBA Networking Reception at the Providence Marriott.
This year Sandra Parrillo, a 1993 MBA graduate and President and Chief
Executive Officer of The Providence Mutual Fire Insurance Company will
be the speaker. Last year's event was a tremendous success and we
expect another large turnout. Finally, the 2nd Annual Vangermeersch
Endowed Lecture Series will be held in Lippitt Hall on April 23.
The panel discussion is titled "Banking on the
Future". The panel consists of three of our outstanding graduates:
Eric Andreozzi, CEO, Managing Director and co-founding partner, McCall
Partners; Scott Carter, Managing Director, Institutional Business,
Director and North American Head of Global Prime Finance Sales and
Hedge Fund Capital, Deutsche Bank Securities Inc., and Bill Eigen,
Managing Director, JP Morgan Asset Management. Following the
panel discussion, there will be a reception at the University
Club. It promises to be a great event if you can fit it into your
schedule.
As
I meet with outstanding CBA graduates, I consistently learn of the
impact URI and the College of Business has had on your careers. I
am delighted to hear how you want to become more involved with the
University and the College of Business. We are always looking to
get you reconnected with the College of Business and would love to have
you come back to campus and meet with students. Many of you have
not seen the "new" Ballentine. Well, it is not new
anymore since this is our 6th academic year in the building, but it is
just as spectacular as when it opened in June 2003. We hope that if
your travels take you through Kingston you will stop in for a
visit. We are always looking to hear what is happening with our
alums so please let us know what is happening in your life. As
always, I welcome your feedback.
Wishing you all the best,
Mark Higgins
Dean and The Alfred J. Verrecchia-Hasbro Inc. Leadership Chair in
Business
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Professor Henry
Schwarzbach
Professor
Schwarzbach has been a CPA, management consultant, and Professor of
Accounting at URI for 32 years. Dr. Schwarzbach came to URI from
Boulder, Colorado where he earned his doctorate in Accounting and
Strategic Management. He received his undergraduate degree in Economics
from UCLA and his MBA with a concentration in accounting and finance
from the University of Hawaii. He has taught at the University of
Hawaii, Chaminade College of Hawaii, the University of Colorado, and
Monash University in Australia. Henry and his wife Claire
came to URI to see what the East Coast was like and as they told
Spencer Martin at the time, "to stay a few years." I guess 32
is a few.
Henry's research, teaching, and consulting specialties are in the areas
of strategic cost management, value based management, policy analysis,
and accounting information systems. He is currently teaching Cost
Accounting, a core class for accounting majors, and Management
Accounting Theory for students in the Master of Science in Accounting
program. He is also director of this Accounting
program. Before the College eliminated departments, Henry was
chair of the Accounting Department; a position he held for 10 years.
Henry has consulted with fortune 100 companies such as General Electric
and Apple as well as small companies and state and local government
agencies. Henry's research is not limited to accounting.
He recently finished a grant for the Korean Maritime Institute on
the potential for developing a recreational boating industry in Korea -
his third project for Korea. He previously did a report on how to
increase venture/seed capital for the Korean marine industry which
resulted in a government program similar to the US Small Business
Innovation program. He also conducted a study on the effectiveness of
using the Balanced Scorecard to manage commercial seaports. That
study surveyed all seaports in Korea and the US. He is currently
finishing up a research study with Associate Dean Deborah Rosen and
Professors Albert Della Bitta and Douglas Hales, developing a
sustainable transportation financing model for the State of Rhode
Island. He is working on additional research proposals in carbon
trading with Professor Allan Graham, and another transportation grant
from the MIT transportation center which will compare the differences
in funding transportation with a gas tax versus a vehicle miles
traveled fee.
This summer Henry will teach a class at Xiamin University in China to a
group of MBA's from the GU-8, a consortium of international universities
of which URI is a member.
In his free time Henry enjoys sailing on his sloop Friendship and walks
along Narragansett Beach.
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Student Spotlight
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Christopher
Marcel Trudeau, May '09
My experience at the University of Rhode Island has been
life changing. I have been able to garner the knowledge and experience
necessary to become a professional accountant. Over the last four
years, I have gone from 'Head Busboy' to 'Corporate Accounting Intern'.
The opportunities that lie ahead seem limitless. I look forward to
representing my state and my university as a business professional.
As a native Rhode Islander, URI was the best fit for me as an
undergraduate student. Rhode Island is a state that I have grown to
love. The rich history, tradition and natural beauty here have become a
part of me. Staying close to my hometown of North Kingstown was also
important. Living a short drive away in East Matunuck allowed me to
maintain a part-time job and regularly see my family.
I am a product of the quality education I received at the College of
Business. I was continually challenged in my coursework and as a result
have pushed myself to new heights. With their wisdom and guidance, the
accounting department has prepared me for the future. I have been able
to take advantage of great opportunities to expand my set of experiences.
In early 2007, I began an internship in Providence with Textron Inc. In
a few short years, I've become a contributing member of a team of
financial professionals.
I have been serving as URI's Beta Alpha Psi chapter President for the
last year. Beta Alpha Psi is an international organization for
financial information majors. The advice I received as a junior member
was valuable when it came to preparing for my future. As a senior, I
felt that helping to run the organization would be a good way to pass
that advice to other students. Through our events, I have been inside
the State House, behind the scenes at a Pawtucket Red Sox game, and
attended a national conference in Anaheim, CA. Over the past year, our
group of officers has improved the organization and should be proud of
what we'll be leaving to the next class. The friendships I've made
through this group, however, are what I'll cherish the most.
I find myself at the forefront of an exciting future. I'll be
graduating in May and receiving a Bachelor of Science degree with a
major in accounting. I will spend the next year working on a Master of
Science in Accounting and taking the Uniform Certified Public
Accountant Examination. My professional career will begin in public
accounting. I have accepted a job offer with Pricewaterhouse Coopers
beginning September 2010 in Boston, MA.
I am grateful for all that the last four years has given me. I thank my
parents, who have provided me with love and a stable foundation to
pursue my dreams. I also thank the friends and faculty who have
helped me to accomplish so many of my collegiate goals. URI has
provided me with a world-class education that I will use on my career
path. I will continue to be appreciative of each opportunity that life
provides.
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Alumni Spotlight
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Scott Carter, '89
Managing Director and North
American Head of Global Prime Finance Sales and Hedge Fund Capital,
Deutsche Bank Securities Inc.
Nobody knows the stress of the economic crisis more than Scott
Carter. He works as Managing Director and North American Head of Global
Prime Finance Sales and Hedge Fund Capital for Deutsche Bank Securities
Inc. in New York, NY.
After graduating from URI in 1989 with a major in finance,Scott joined
CSFB (what was then CS First Boston) in Mortgage Backed Securities
Trading as an assistant trader on the desk. Scott explains "I was
the right hand man for the traders and that meant I was in the thick of
all the action. MBS trading was the place to be at the time. Guys who
played a starring role in the likes of Liars Poker called on me for
their most important assignments - such as "take this fist full of
hundreds and buy enough White Castles for the trading floor"- at
7:30 AM. It was a high pressure job and I learned a lot about what it
takes to be successful on Wall Street. My time at URI prepared me for
this stepping stone and this exposure put me in position to go to a top
business school a few years later."
In 1994, he landed a summer internship at Bankers Trust between his
first and second year at Cornell's Johnson School. "BT had a
reputation as the leader in derivatives and was a very entrepreneurial
culture, which was a good fit for me. Little did I know that I would
stay with the firm, through Deutsche Bank's acquisition, as long as I
have."
Scott joined Bankers Trust full-time in 1995 and covered US
Pension plans for fixed income derivative products, including Synthetic
GIC's until 1998. He then took on the role as senior structurer
for the hedge fund derivatives business and helped develop Deutsche
Bank's market leading platform in principal protected and leveraged
hedge fund products over the next three years.
In 2001, Scott joined Global Prime Finance Sales and is now head of the
group in the Americas. This group is responsible for distribution and
client coverage of the firm's global prime brokerage, swap financing
business - Global Prime Finance, Fixed Income Prime Brokerage and FX
Prime Brokerage.
Scott also heads the Capital Introduction team in the region. This
group is responsible for managing relationships with hedge fund
investors, such as Pensions, Endowments, Foundations, Family Offices
and Fund of Funds. The team leverages these relationships to help the
bank's hedge fund clients identify new sources of capital.
Scott notes about his time at URI "URI was a good fit for me
because the culture offered an appropriate balance of academics and
social life. If you were the type of student who knew how to push
yourself academically, you could do very well at URI. Like everything
in life worth having, you have to go out and get it, and the culture at
URI reinforced this culture. The University had some great professors
and a diversified curriculum. I took everything from Oceanography to
Accounting. I was able to take risks and start to figure out what I
wanted to do. At the same time, I made lifelong friendships and my four
years at URI left me with some of the greatest memories in my life.
Herein lies the balance.
In Real Estate Finance, Professor Sullivan used to say it's all
negotiable and in that class, it all was. Everything - even your grade
on an exam. Of course post graduation, anyone who bought a house or had
the chance to backpack Asia knew this was valuable advice. At the time,
although I understood Sully's point in the traditional sense I think
there was a bigger lesson he was after as well. Life isn't structured
and there really are no hard and fast rules, so there was a
"negotiation of life's uncharted waters" element to his teachings.
The Fraternity of Phi Gamma Delta in particular was a huge positive for
my life. At URI I further developed confidence and the leadership
skills that have helped me advance my career through my fraternity. The
fraternity system was a collection of the best and brightest on campus.
The people that sit next to me on the trading floor now look an awful
lot like the nerds and the athletes that made up the brotherhood back
then. There was a healthy sense of competition between the houses,
which manifested itself during Rush and Greek Week as we
proudly strutted across the quad with our letters on our
sweatshirts. We also worked collaboratively together and did some
great things for the campus and the community. I saw an opportunity to
get some formal leadership experience as FIJI President and I jumped on
it. A leader in a fraternity faces many of the same interpersonal
challenges as a manager on Wall Street. In some ways, the job is
tougher because you don't have the sticks and carrots most managers use
to motivate a team. The role forces you to build consensus and
articulate a clear vision. I think most people got it and as a result,
we were a very strong house within a tremendous Greek system. I loved
those days."
Scott has been chosen as one of three panelists for the College of
Business annual Vangermeersch Endowed Lecture Series on April 23, 2009.
Details on this event are found in this newsletter.
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What Happened To?
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Dr. Richard
Vangermeersch
There have been a number of great happenings since his
retirement from URI in 2004, offset by continuing activities at both
the Narragansett Republican Town Committee and the RI Republican
State Central Committee. One highlight for Richard was
his third hole-in-one on June 7, 2005 at the Jamestown Golf
course. His personal new slogan is now "A lifetime of
mediocrity erased by 3 swings."
After celebrating one of the funnest and funniest
retirement banquets in June 2004, Richard won the co-convener at
the 10 World Congress of Accounting Historians in St. Louis and Oxford,
MS in August 2004. As an off-shoot of that, Richard was involved
with the 2006 World Congress of Accountants and the 2008 World Congress
of Accounting Historians, both in Istanbul.
He was thrilled to complete The Life and
Writings of Stuart Chase (1888-1985): From an Accountant Prospective.
He also penned a centennial history for the RI Society of CPAs in
2005.
Richard is involved locally in Narragansett's attempt
to extend tourist activity beyond July and August, in increasing the
usability of Canonchet Farm, and in trying to control the town's
pension costs.
He is currently involved with a murder writer who is doing
a book on John C. Colt - an accounting textbook writer who murdered
his publisher in 1841. Colt was the brother of Samuel Colt of the Colt
45 fame. This is a different type of writing and research, and Richard
is excited about the soon to be published book by Harold Schecter.
Richard believes he is fortunate in having Lois Pazienza,
a longtime accounting secretary, also retired, continue helping him in
various word-processing tasks and offering great ideas. Lois
remains the "star of this duo".
Always the optimist, Richard sees great things happening
in the future. He remains involved in an interesting historical
paper business, in various projects at the URI Archives and Special
Collections, and in golf. He has uncovered a cycle to his
hole-in-ones. From his first game in 1955 to his first hole-in-one
in 1973, it took 18 years, the second in 1987 was 14 years later,
then again in 2005 another 18 years had passed. Richard adds
"Hence, please search this publication for hole-in-one number four
in 2019, followed by number five in 2037. Why Not?"
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Topic: Banking on
the Future
April 23, 2009
4:30 PM
URI Kingston
Campus
Lippitt Hall,
Room 402
All are welcome to
attend the second annual Vangermeersch Endowed Lecture Series
- Eric
Andreozzi: Managing Director and co-founding Partner, McCall
Partners
- Scott
Carter: Managing Director and North American Head of Global Prime
Finance Sales and Hedge Fund Capital, Deutsche Bank Securities
Inc.
- Bill
Eigen: Managing Director, JPMorgan Asset Management
Please RSVP by calling 401-874-4377 or email suemc@uri.edu
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MBA
Networking Reception
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Join
guest speaker Sandra Parrillo, MBA '93, President and Chief Executive Officer
of The Providence Mutual Fire Insurance Company, fellow MBA alumni,
current MBA students, faculty and staff at the annual ...
MBA
Networking Reception
April
22, 2009
6:00-8:00
PM
Providence
Marriott Downtown,
Free
parking, free hot hors d'oeuvres,
and
cash bar available.
Please RSVP
by April 12th to the MBA Office at 401-874-5000 or email manni@uri.edu
For further details on the event, click HERE
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Financial
Services Symposium 2009
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URI
College of Business Administration, Greater Providence Chamber of
Commerce and Senator Reed's Office Hosts Financial Services Symposium
2009
Fueling
the Financial Services Engine
Tuesday,
April 7, 2009
Rhode Island
Convention Center,
Providence,
RI
7:45 AM - 2:00 PM
Keynote
Speaker: Martin Gruenberg, Vice Chairman of FDIC and President of the
International Association of Deposit Insurers (IADI)
Cost
is $50 pre-registration or $60 at the door. This includes lunch.
For details and registration, visit www.cba.uri.edu/fss
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AACSB
Accreditation Renewed for College of Business
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The Association to Advance Collegiate Schools of
Business has renewed its accreditation of the undergraduate, master's and
doctoral degree programs offered by the University of Rhode Island's
College of Business Administration.
URI's College of Business Administration has maintained national
accreditation since 1972, making it the longest standing, continuously
accredited business program in the state. In addition, the College's
accounting program, first accredited in 1993, maintained its status for
its undergraduate and graduate programs. URI is the only Rhode Island
institution to have its overall business and accounting programs
accredited by the association. The business school at URI dates back to
1923.
Fewer than 15 percent of the institutions offering management education
and fewer than 5 percent of the accounting programs in the United
States have earned accreditation. The College of Business
Administration will undergo its next evaluation in 2013.
"Re-accreditation affirms that URI provides all students -
undergraduate, masters and doctorate - with a high quality business
education," said Mark Higgins, Dean and Alfred J.
Verrecchia-Hasbro Inc. Leadership Chair in Business. "It is a
credit to the faculty and staff and their commitment to providing the
best business education possible."
In its congratulatory letter to Higgins, the association commended the
College for the following:
ˇ Its required freshmen acclimation course, URI101, which groups
students by majors and is led by faculty members and senior or junior
student mentors/instructors. "This innovation is an excellent
mechanism to improve student retention and increase the connections
between upper and lower division students," the letter said.
"The mentor program is universally lauded by students."
ˇ The annual review and promotion and tenure evaluation systems, which
the association called highly transparent and very well received by
faculty.
ˇ The collegiality of the faculty ... "Faculty believe some of the
key reasons for this include the leadership of the dean, the move to
areas rather than departments, and an increase in junior faculty who
bring a fresh view and perspective."
Other strengths include the student career passport program, a course
that helps juniors and seniors make the transition to employment and
self-sufficiency, the joint master of business administration with the
URI Graduate School of Oceanography and the College's affiliation with
the Chartered Financial Analyst Institute
In 2007, URI became just the 5th undergraduate finance program in the
U.S to be named a Chartered Financial Analyst Program Partner by the
CFA Institute.
Last summer, URI's College of Business Administration earned
Certification in Transportation and Logistics from the American Society
of Transportation and Logistics. It was the first New England
university - and just the 22nd U.S. university overall - to offer the
certification to its students. At the time, URI and Michigan State
University were the only schools certified by both organizations.
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Where
Are They Now?
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Where
are some of our CBA alumni?
Michael Clegg '02 is a General
Manager at the Hampton Inn in Princeton, NJ.
Michael Maita '89, is Managing Director
at Morgan Stanley, Investment Management in New York, NY.
Claire
Marcille Gadrow '91 MBA '98, is Assistant Vice
President for Advancement at Connecticut College in New London,
CT.
Mark McGivney, '89, is Chief Financial
Officer of Marsh Inc. in New York, NY.
Katy Paquet, 04' is a Merchandise
Planner for Polo Ralph Lauren in Lyndhurst, NJ.
To be added to the next newsletter email your update to cbanews@etal.uri.edu
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Ph.D.
News
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Congratulations on the recent accomplishments for
the following CBA doctoral students:
Adriana M. Bóveda-Lambie
Conference
Presentation
Bishop, M. and A. M. Bóveda-Lambie, "The Impact of Medium Language
on Code-Switched Advertising" Special Session on Psycholinguistics
and Consumer Behavior Society for Consumer Psychology Winter
Conference, San Diego, CA, February 2009
Julianne Cabusas
Book Chapter
Dholakia, N. and J.J. Cabusas, "Second Life", in Encyclopedia
of Consumer Culture, Dale Southerton (ed.), London: CQ Press,
forthcoming 2010
Conference
Presentation
Dholakia, N., J.J. Cabusas and E.J.M. Arruda-Filho,
"Worming into Apple's Core: Devotion and Impatience among iPhone
Innovators", Association for Consumer Research (ACR) - Asia
Pacific Conference, Hyderabad, India, January 2009
Kyung Woo
"David" Kang
Conference
Presentation
Kang, K.W. and S.K. Shin, "Anonymity, Virtual
Network Structure, and Knowledge Intentions: Perceived Network
Structure as Antecedents of Knowledge Intentions in Virtual Knowledge
Communities", Proceedings of the 2008 International Conference on
Business and Information (BAI 2008), Seoul, South Korea, July 2008
Kathleen Ferris-Costa
Journal
Articles under Review
Ashley, C., J.D. Oliver, D. E. Rosen and K. Ferris-Costa,
"Consumer Responses to Brand Experiences in Retail Settings: The
Moderating Role of Involvement" third review, Journal of Retailing
Woodside, A. G., K. Ferris-Costa and H.M. Pattinson,
"Implemented-Strategy Theory and Case Study Research," second
review, Industrial Marketing Management
Bogdan Prokopovych
Conference
Presentation
Dorado, S. and B. Prokopovych, "Convening a conference to jumpstart
a field: The case of the alternative staffing alliance,"
Academy of Management Annual Meeting, Anaheim, CA, August 2008
Journal Article
Sun,
Z and J. Jarrett, "Evidence and Explanations for the Association
among Six Asian (Pacific-Basin) Financial Markets", Applied
Economics, 2009, forthcoming
Grants and Awards
American Finance Association (AFA) Doctoral Student Travel Grant, 2009;
Western Risk and Insurance Association (WRIA) Dorfman Research Award,
2009; The Chartered Financial Analyst (CFA) Exam Student Scholarship,
2009
Caroline
Wilcox
Conference Presentation
Dholakia, N., J. Rooka, J.J. Cabusas, C. Wilcox, and E.J.M.
Arruda-Filho, "The Rebel Co-Creator: Exploring the iPhone
Unlocking Phenomenon", Workshop on Transformative Consumer
Research (TCR), Sao Paulo, Brazil, July 2008
T. Jeffrey
Zhang
Conference
Presentations
Zhang, T.J., "Do Analyst Earnings Forecasts Reflect
Pension Underfunding Information?" Eastern Finance
Association (EFA) Conference, Washington, DC, 2009
Zhang, T.J., Z. Huang and J. Heian, "Trading Volume Shocks and
Stock Returns: Evidence from the U.S. and Asian Financial
Markets," Financial Management Association International (FMA),
Dallas, TX, October 2008
Zhang, T.J., "Pension Underfunding and Bond Ratings: Evidence from
Bond Seniority, Default Risk and Recovery Rate", Eastern Finance
Association (EFA) Conference, Washington, DC, 2009
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Ballentine Hall Naming Opportunities
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When
Ballentine Hall was re-dedicated on Wednesday, June 4, 2003, the front
of the program read: "The Transformed and Expanded Home of URI's
College of Business Administration". In the past five years,
the College of Business has truly been "transformed" due in
large part to this world-class business facility.
If
you have yet to see the "new" Ballentine, I would encourage
you to stop by, or better yet, contact me and I would be delighted to
give you the "VIP" tour which would include:
ˇ
the Bruce Sherman Trading Room which provides students the opportunity
to simulate stock trades and purchases, as well as analyze financial
information from markets around the globe.
ˇ a spacious computer facility (not yet named)
ˇ two tiered classrooms on the first floor (the Dick Harrington and Bob
Crandall rooms)
ˇ the Dean's suite, which includes the Thomson Boardroom, an impressive
executive-style boardroom overlooking the Quadrangle.
If you are interested in becoming a true "shareholder" in
Ballentine Hall, there are still a number of naming opportunities
available, including:
9 faculty offices ($10,000 each)
Computer Lab ($50,000)
Graduate Student Office Suite ($50,000)
Your gift (payable over a period of 5 years) would become part of an
operational fund dedicated to the maintenance, upkeep and continual
modernization of this truly outstanding facility that has become such a
wonderful resource to College of Business students and faculty.
For more information contact.....
Michaela Mooney
Associate Dean of Development
College of Business Administration
341 Ballentine Hall
University of Rhode Island
Kingston, RI 02881
Office: 401.874.4716
Fax: 401.874.4312
mmooney@foundation.uri.edu
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Picture of the Month
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Alumns of the Game
Two
business executives, Sandra Glaser Parrillo who earned her MBA in 1993
and Jodi Fournier who earned her bachelor's degree in business
administration in 1982, were recognized as "Alums of the
Game" at halftime during the UMass vs. URI game March 7 at the
Ryan Center.
As
President and Chief Executive Officer of the Providence Mutual Fire
Insurance Co., which employs 75, Parrillo is one of more than 800
alumni who own or run businesses in the Ocean State, contributing to
the Rhode Island economy.
Jodi Fournier is Chief Executive Officer of Taylor Grey, a recruiting
and consulting firm in New York City. The firm specializes in high-end
administrative and professional support. She is also an active member
of the Women's Council for Development at URI and has been a guest
speaker/expert at some of the council's events.
Pictured
above: From left Thorr Bjorn, director of athletics, Jodi Fournier '82,
Sandra Glaser Parrillo '93 MBA, President Robert L. Carothers, and
Robert Beagle, vice president for University Advancement.
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Quick
Links
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UPDATES FOR NEWSLETTER? Contact:
University of Rhode Island
College of Business Administration
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