WASSERMAN TRADING FLOOR / SUBOTNICK CENTER TO HOST TRAINING EVENT FOR TOP STUDENT INTERNS
May 23 – 25, 2007 at Baruch College
New York, NY, May 17, 2007 – The Wasserman Trading Floor / Subotnick Financial Services Center will host a three-day training event on May 23–25 for 75 sales and trading and asset management student interns who were granted internships by the Sponsors for Educational Opportunity (SEO) Career Program. This marks the third year Baruch has supported SEO with training.
Baruch professors Richard Holowczak and Bernard Donefer, the director and associate director of the Subotnick Center, respectively, will provide instruction and simulated trading exercises; lectures on fixed income, equities, and derivatives; and training on Reuters and Bloomberg terminals.
Established in 1980, the SEO Career Program helps high-achieving students of color reach their career goals by providing internships in challenging fields, including information technology, corporate law, asset management, and philanthropy. Investment banking interns are grouped into areas of Sales and Trading, Research, and Corporate Finance. This year the program recruited a total of 434 top minority students into their summer internship program from 123 different universities across the U.S. and Puerto Rico.
Major financial services firms in New York City participate in the program by hosting interns. Over 80 percent of interns later receive full-time job offers from their host company or partner firms. The full-time job offer rate for sales and trading interns increased from 60 percent to 70 percent since Baruch first teamed with SEO to provide training in 2005.
This year, six Baruch students have been admitted to this competitive national program: Ismolia Alli-Balogun, Gilbert Bouhana, Maria Giraldo, Kenneth Ho, Ariyanto Jahja, and Darren Smith.
One of Baruch’s participants is Gil Bouhana. Gil is a junior at Baruch who will be interning with the Sales and Trading program at UBS. He is vice president of the College’s Portfolio Management Club. Earlier this month, all eight members of the club attended the annual shareholder’s meeting of Berkshire Hathaway Inc. at the invitation of legendary value investor and company CEO Warren Buffett after Buffett received a letter from the club members and several of the club’s research reports.
“Baruch has been an invaluable part of the success of our sales and trading program at SEO,” said William Goodloe, president and chief executive of SEO. “Our significant increase in offer rates can be directly attributed to the outstanding training that Bernard Donefer and Richard Holowczak have provided, as well as Baruch's donating the use of its state-of-the-art facility. With the addition of the Asset Management interns in the training program this year, we are confident that the training will provide a similar boost in offer rates for our Asset Management Program. We look forward to continuing our strong relationship with Baruch for years to come. “
Richard Holowczak, director of the Wasserman Trading Floor/Subotnick Financial Services Center, expressed his enthusiasm for the Baruch students in the SEO program, saying, “I am very pleased and excited to see this amazing cohort of Baruch students going into top-tier firms, shoulder to shoulder with their peers from the Ivy Leagues.”
Holowczak also commented on the expansion of this year’s training program to include interns headed to asset management positions. He noted, “Expanding the training in this way further demonstrates our strong commitment to improving the preparation of these outstanding students and our commitment to the mission of SEO.”
Sylvester McLearn, managing director and head of Middle Market Sales Group (IIG) in Equities from Citigroup, is to be one of several guest speakers.
Contact: Richard Holowczak, director, Wasserman Trading Floor/ Subotnick Financial Services Center, Baruch College, at 646-312-1544, or Lara Moon, Communications and Marketing, at 646-660-6093.