March 26, 2003
Hedge Fund Managers, MBAs Converge on Austin for Symposium
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Austin – Over the last two years, as financial services firms have laid off analysts and scaled back recruiting efforts for new hires, MBAs seeking an edge in the job market have increasingly turned to one of finance's more obscure corners – hedge funds.
Signs of the surge of interest will be in evidence in Austin on Friday, March 28, as MBAs from Cornell, MIT, Carnegie Mellon, Chicago, and other top-ranked business schools in the U.S. and Canada join peers from the University of Texas at Austin's McCombs School of Business for a day-long conference with some of the nation's leading hedge fund managers.
The MBA Hedge Fund Symposium, organized by the Texas MBA Hedge Fund Organization, will not be a career fair, says organization president Holly Goodrich, but it will offer unique networking opportunities for students interested in the profession.
"The hedge fund industry is one of the only sectors of Wall Street that is expanding in terms of assets under management and total number of funds," notes Goodrich, "so in comparison with traditional buy-side firms there are more positions available for those with the relevant experience."
The keynote speaker is Dr. Richard Lindsey, who as president of Bear, Stearns Securities Corporation and senior managing director of Bear, Stearns & Co. Inc., represents one of the nation's top-performing prime brokers (which provide service to hedge funds). Lindsey will offer an outlook on the role of hedge funds within the securities industry over the next five years.
Additional speakers at the event, which takes place at the Driskill Hotel in Austin from 8 a.m. - 4:30 p.m., include Mike Weinberg of Carlson Capital LP leading discussions of "What is a Hedge Fund?" and how professional managers evaluate them, Jeff Kinneman of Quint Capital LP discussing long vs. short investment strategies with a specific focus on the utility sector, and a panel of McCombs alumni talking about their experiences in the profession.
In addition to national and Texas-based funds, Austin-based hedge funds and institutional investors will be well represented at the event, with attendees from UTIMCO, the Teacher Retirement System of Texas, and all of the major regional players in the hedge fund industry.
For more information visit the Texas MBA Hedge Fund Organization or email event organizer Holly Goodrich.
About the Texas MBA Hedge Fund Organization
Since September 2002, the Texas MBA Hedge Fund Organization has enabled the University of Texas McCombs School of Business community to gain unparalleled exposure to the ever-changing, intricate and sophisticated asset management strategies of hedge funds. Through the sharing of ideas, information, experiences, and importantly, by providing direct interaction with top industry professionals, the Texas MBA Hedge Fund Organization is the first of its kind, providing its members with the educational resources needed to expand upon their career goals.
Holly Goodrich, McCombs MBA '04, on student interest in hedge funds:
"The advanced trading styles and strategies of hedge funds tend to mean that the positions are usually filled by people with prior buy / sell side experience. While the hedge fund industry is not a typical recruiting ground for newly minted MBA's for jobs or internships, I feel that there is potential for MBAs with knowledge of hedge funds to enter the industry as analysts and research associates. The goal of our organization is to enhance members knowledge and understanding of the various hedge fund strategies, which should prove an advantage when competing for potential jobs in this industry."
For information on specific programs at the McCombs School, consult our contacts page. For media information, contact the Communications Director by phone at 512-471-3314 or by email at CommunicationsDirector@mccombs.utexas.edu.
