News & Updates
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Free Career Management Events in 2012CFA Chicago Chairman Heather Brilliant, "In this tough environment, I'm pleased to announce our biggest headline: career management events will be FREE for all CFA Chicago members through June 30, 2012. We are offering this benefit based on the feedback and needs of members. I encourage you to take advantage of these events, build your portfolio of skills and make new professional connections." More
Thirty-Eight Percent of 49,380 Candidates Worldwide Pass Level I CFA ExamIncreasing number of investment professionals still seek gold standard of CFA charter despite challenging economic times NEW YORK, 24 January 2012 - As market volatility continues to shake investor confidence and the industry strives to rebuild trust, 38 percent of the 49,380 financial professionals that sat for the Chartered Financial Analyst (CFA) Program Level I exam in December 2011 are one step closer to becoming the next generation of leaders. This six percent increase in the number of candidates that sat for the December 2011 exam demonstrates a continued devotion to the highest standards within our profession and the commitment by tomorrow's experts to put the investor first. The CFA Program is a globally recognized, graduate level curriculum that links theory and practice with real-world investment analysis and portfolio management skills, and emphasizes the highest ethical and professional standards. "The investment profession continues to be deeply affected by the fallout from the 2008 global financial crisis and in such times, the value of truly relevant professional education and credentials comes to the fore," said John Rogers, CFA, president and CEO of CFA Institute. "The CFA designation is a mark of distinction that is globally recognized by employers, investment professionals, and investors as the definitive standard by which to measure serious investment professionals. These successful candidates have shown their commitment to the highest standards of excellence, rigor, and relevance in financial education and I congratulate them on their achievement in passing Level I." Rogers continued, "The value of the CFA charter continues to grow with the number of candidates who registered for the CFA exam in calendar year 2011 (June and December exams combined) increasing five percent to 214,507. In fiscal year 2011, more than 40 percent of registrations came from the Asia Pacific region, more than 20 percent were from the Europe, Middle East and Africa region, and the balance came from the Americas, demonstrating the truly global nature of our candidate base." To earn the CFA designation, candidates must pass all three levels of exam (successful candidates often report dedicating in excess of 300 hours of study per level); meet the work experience requirements of four years in the investment industry; sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct; apply to a CFA Institute society; and become a member of CFA Institute. Tom Robinson, CFA, managing director of Education at CFA Institute, said, "The CFA Program benefits from a continuous, global practice analysis that identifies the knowledge, skills, and abilities necessary to practice in the current market environment. Today more than 80 percent of the CFA Program curriculum has been custom written and presents a global perspective that can be updated on a timely basis, keeping pace with trends in practice. The strength of the CFA Program comes from its relevance to practicing investment professionals today and we appreciate the efforts of thousands of practitioner-members who help make this possible." The CFA Program curriculum is firmly grounded in the knowledge and skills required every day in the investment profession and covers ethical and professional standards, securities analysis and valuation, international financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, and performance measurement. Level I exams are held in both June and December and Levels II and III are held only in June. It takes most candidates more than three years to complete the CFA Program, and requires dedication and determination. (View historic pass rates) CFA charterholders hold positions in numerous fields within the investment industry including portfolio management, research analysis, consultancy, relationship management, risk management, financial advisers, and investment banking. CFA Institute has administered more than one million exams since the inauguration of the CFA Program in 1963. The December 2011 Level I exam was given at 95 test centers in 67 cities worldwide. Examples of countries and territories with the largest number of candidates that took the Level I CFA exam last December are the United States (11,514), Mainland China (6,638), India (5,135), Canada (3,648), the United Kingdom (3,691), Hong Kong (2,826), Singapore (1,865), and South Africa (1,040). CFA Institute also partners with globally diverse, high profile institutions who cover a significant portion of the CFA Program Candidate Body of Knowledge and who embrace the CFA Institute Code of Ethics and Standards of Professional Conduct in their degree programs. This recognition tells students and employers that the school's curriculum is closely tied to professional practice and is well suited to preparing students to sit for the CFA exams. Currently, there are 140 CFA Program Partners on six continents, including schools such as Saïd Business School at the University of Oxford and The Johnson School at Cornell University.
CFA Chicago Launches First-Ever LIVE Webcast of Distinguished Speakers Series: James BiancoWe are proud to launch our first-ever LIVE webcast. Since we are testing out this new technology, we are offering our first webcast FREE. We invite you to give us honest feedback about what you liked, and didn't like about the webcast. Date: Wed., Jan. 18, 2012
View photos from the 2011 Annual DinnerView photos from the 2011 Annual Dinner. Images by: alyssa Miserendino photography
Call for Subject Matter ExpertsThe CFA Society of Chicago is compiling a database of subject matter experts (SMEs) who are willing to share their knowledge and expertise with members of the media. Your contact information will NOT be shared directly with a reporter, instead CFA Chicago will reach out to you to determine your interest in participating. Please note, if your firm requires all media requests to be handled in-house - you can forward the requests directly to your media team. Join the CFA Chicago SME team.
Chicago Live Weekly Classes by Kaplan SchweserLevel I: Thursdays, Jan.19-May 3
Membership Renewal ReminderIf your membership dues have been delinquent this year, your account has lapsed. If you are a Charterholder, this will mean you are no longer eligible to use the CFA designation. Log in to your CFA Institute account to update contact information and to verify your account standing.
Get Involved: Board of Directors and Volunteer OpportunitiesCFA Society of Chicago needs you! This is your chance to help lead the society dedicated to meeting the professional needs of Chicago-area financial investment professionals. See below for details about Board nominations or the Advisory Group volunteer process. Call for Nominations: Board of Directors Become a Volunteer: Advisory Groups As a Board member of volunteer you will have the opportunity to contribute to advancing your profession, enhancing the value of the society, accessing up-to-date information about the challenges facing your industry, and exchanging ideas and perspectives with other leaders. On behalf of the society, I thank you for your consideration and look forward to your active support! Sincerely, Angela McKay, CAE
CFA Institute: Forty-four Percent of CIPM Candidates Pass Final Expert Level ExamCertificate is investment industry's only designation dedicated to investment performance analysis and presentation New York, NY., 14 December 2011 - CFA Institute, the global association of investment professionals, today announced that 44 percent of the candidates who sat for the final Expert level exam in the Certificate in Investment Performance Measurement (CIPM®) program passed the exam in October 2011. The CIPM credential is the investment industry's only designation dedicated solely to the specialized field of investment performance analysis and presentation. The two-level, self study CIPM program is designed to test a candidate's knowledge and understanding of a specialized curriculum in the areas of ethics, performance evaluation, and application of the Global Investment Performance Standards (GIPS®). Obtaining the CIPM certificate demonstrates a practitioner's proficiency in applying analytical techniques and preparing GIPS-compliant presentations, which guide investment firms in fairly representing and fully disclosing performance results. In total, 237 candidates in 29 countries sat for the three-hour, computer-based Expert exam, which was administered during October 2011, an increase of five per cent from the same exam period last year. The Expert exam emphasizes performance evaluation and presentation, including application of the necessary tools and inputs and GIPS guidance statements. To earn the certificate, a candidate must enroll and pass two exams, become a regular member of the CIPM Association, and meet professional experience requirements. There are two exam periods per year, so it is possible to complete the program in one year. "In today's increasingly tech dependent world it is easy to produce data that people do not truly understand," said Todd Jankowski, CFA, head of the CIPM Program. "The analytical skills and standards that are developed through the CIPM program, however, prepare analysts to address the risks of new investment products and alternative investment strategies. Investment industry employers value CIPM certificants because they increase client trust and confidence in investment strategies and reported results." To date, 789 people hold the CIPM certification. The number of candidates that sat for the October 2011 exam cycle has increased by 15 percent when compared to October 2006. This marked growth demonstrates the increased value that professionals in investment performance evaluation are placing on the designation. Successful CIPM candidates include performance analysts, client relationship managers, institutional investors, consultants, compliance officers and IT professionals, among others - people whose work in the investment industry calls for a solid understanding of performance concepts, analytical techniques, and presentation standards. "The Certificate in Investment Performance Measurement is the established standard of excellence for investment performance analysis," attests Timothy Ryan, CIPM, Vice President, Performance Measurement at Hartford Investment Management Company. "The program is grounded in practice and perspectives which previously would not normally be covered in a decade of on-the-job experience. CIPM is one of the first and foremost relevant attributes you look for in job candidates." In addition,53 percent of the candidates who sat for the Principles level of the CIPM program passed the exam they took in the October 2011 window. A total of 276 candidates in 35 countries sat for the three-hour, computer-based Principles exam, which emphasizes investment tools and inputs necessary for performance evaluation and the provisions of the GIPS standards. Candidates who pass the Principles exam are eligible to enroll in the Expert level of the program. Enrollment for both levels in the April 2012 examination window remains open through January 31, 2012. The CIPM curriculum is offered online and examinations are administered during two periods each year at test centers worldwide.
CFA Society Of Chicago Announces University Line Up In Local Level Of The CFA Institute Research Challenge
Media Contacts
Virginia Petrancosta CFA Society of Chicago, Director of Communications and Development Tel: (312) 251-1305 Email: vpetrancosta@cfachicago.org Top Illinois and Indiana Business Schools compete on equity research for a chance to advance to the regional and global finals Chicago - CFA Society of Chicago announced today the 10 universities participating in its first administration of the CFA Institute Research Challenge. The Research Challenge is an annual educational initiative designed to promote best and ethical practices in equity research to finance and business students through hands-on mentoring and intensive training in equity analysis. This year, more than 2500 students from 500 universities worldwide will participate in local Challenges, leading to the national and global finals. CFA Chicago is pleased to announce the 10 universities that will compete on Feb. 16, 2012, in Chicago for the local Research Challenge title:
"This local Challenge brings together the top universities, students and investment professional in a competitive forum that highlights ethics, professionalism, and the value of a career in the finance industry," said Michelle Moreno, CFA, senior vice president First Analysis. "This highly-regarded competition pits the brightest future finance and business minds against one another." The program spans nearly an entire academic semester, and consists of the following components:
Founder and CEO of High Pointe Capital Management, Gautam Dhingra, Ph.D., CFA, said, "We are thrilled that all of the best schools in the area were eager to participate in the CFA Institute Research Challenge. Their excitement about this opportunity is very gratifying for CFA Society of Chicago, as organizers and sponsors of the competition." The local Challenge team winners will receive an internship at Morningstar, Inc. (NASDAQ: MORN) (subject to usual and customary HR requirements). In addition, the first, second and third place teams will receive various prizes sponsored by CFA Chicago. The local Challenge team winners will continue on to the regional competition in New York. Regional champions will then vie for the global title on April 12 in New York. This year's local challenge is hosted by CFA Society of Chicago, www.cfachicago.org. CFA Institute Research Challenge CFA Society of Chicago CFA Society of Chicago aims to be the premier local resource for Chartered Financial Analyst designees, candidates and other investment professionals. Specifically, the Society empowers a community of financial professionals and serves as a platform to:
CFA Institute
CFA Institute Launches "Top New Finance App" Developed by WillowTree AppsNew York, NY, September 28, 2011 - CFA Institute, the global, not-for-profit association of investment professionals that awards the CFA and CIPM designations, has partnered with app development company WillowTree Apps to launch the CFA Institute Mobile App, which was recently highlighted as a "top new Finance App" in the Apple iTunes App Store. "The CFA Institute Mobile App is a free and convenient way for busy investment professionals to stay up to date with key trends and the latest research on finance and investing - no matter where they are in the world," said Jan Squires, CFA, managing director of the Strategic Products & Technology division at CFA Institute. "Given the widespread use of mobile devices in our industry, apps like this provide important new channels for delivering high-value educational content and services to CFA Institute members, candidates and other constituents. We were pleased to engage WillowTree Apps on all phases of the development, from concept to launch." The CFA Institute Mobile App, now available in the Apple iTunes Store and Android Marketplace, delivers audio and video podcast interviews with leading investment practitioners and provides access to CFA Digest summaries, which highlight and condense the most important, investment practitioner-oriented articles from a universe of more than 70 publications. Users can save content from the app for off-line consumption, and easily share the content via email or over social networks like Facebook, LinkedIn and Twitter. To download the CFA Institute Mobile App, visit: "The CFA Institute Mobile App was an important project for our team," said WillowTree Apps CEO Tobias Dengel. "Working with CFA Institute was a pleasure, and the resulting iPhone and Android apps allow time-pressed financial professionals to easily stay current with the organization's valuable analysis of the rapid changes in global finance."
Check your email inbox for the new CFA Chicago weekly emailStreamlined and distributed weekly, this new member benefit will help you plan which events to attend and keep you up to date with the latest news. Didn't get our weekly email? Let info@cfachicago.org know you want to be added to the distribution list.
Snyder appoints CFA Chicago member Quackenbush to Public Service CommissionThe Holland Sentinel, Lansing, MI., 15 Sept., 2011 - John Quackenbush was appointed today by Gov. Rick Snyder to serve as chair of the three-member Michigan Public Service Commission. The commission provides regulatory oversight of Michigan's utilities. Quackenbush's "extensive experience in the financial services industry" will be important to the commission, Snyder said in a statement. Quackenbush, of New Buffalo, has worked for UBS Global Asset Management for 10 years, the statement said, most recently as a managing director and senior investment analyst responsible for equity research of the transportation, utilities and coal industries in the U.S. and Canada. He previously worked as manager of the Sprint Corporation Treasury Department and Sprint Corporation Local Telecom Division. Quackenbush was named a Top Gun U.S. Industrials Investment Mind in 2011 by Brendan Wood International. He obtained certification as a Chartered Financial Analyst (CFA) in 1993 and is a member of the CFA Institute and CFA Society of Chicago. He previously served as a board member of the Society of Utility and Regulatory Financial Analysts. Quackenbush will serve a six-year term beginning Oct. 17 and expiring July 2, 2017, and replaces Monica Martinez. Current chairman Orjiakor Isiogu will continue to serve on the commission as a member. He will represent Republicans; no more than two members of the commission may be from the same political party. The appointment is subject to the advice and consent of the Senate.
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