News & Updates

Governor Jon Huntsman, Jr. Announced as CFA Society Chicago Annual Dinner Keynote Speaker

The 2014 Annual Dinner is our premier networking event of the year, bringing together nearly 1,000 investment professionals and key decision-makers. The 28th Annual Dinner will take place on Thurs., Oct. 23 from 5:00-9:00 p.m. at Navy Pier Grand Ballroom. The Officers and Directors of CFA Society Chicago invite you to attend this year's event where you will have the opportunity to socialize with individual members and show support for the new class of CFA Charterholders, the CFA designation and for the society.

The keynote speaker is Governor Jon Huntsman, Jr. - U.S. Ambassador to China (2009-2011); Governor of Utah (2005-2009); Co-chair, No Labels; Co-chair, Intellectual Property Commission. Also being honored is Ralph Wanger, CFA, with The Hortense Friedman, CFA, Award for Excellence. Registration closes Oct. 2 - Register Today


There is now only one week left in the CIPM registration window for the October 2014 exam. Do not miss out, register by 31 July 2014.

Only one designation offers the advanced skills in investment performance and risk evaluation that prove your skill, commitment, and integrity. The Certificate in Investment Performance Measurement (CIPM®) offered by CFA Institute provides a practice-based approach to attribution, manager selection, and risk management to drive smarter, more effective investment decision-making.

With CIPM, you'll be prepared to:

  • Deliver more actionable investment insights
  • Improve manager search and selection
  • Provide feedback to maximize your firm's efficiency
  • Increase risk awareness
  • Produce comprehensive and transparent reports

Registration for the October 2014 CIPM exam is open until 31 July 2014. Register Now


CFA Society Chicago Announces 2014-2015 Board Members

Chicago's financial leaders elect new board members at CFA Society Chicago Annual Meeting

Chicago - CFA Society Chicago, the leading organization for Chicago's investment community, elected new and returning board members at the Annual Meeting on June 24, for terms beginning on July 1.

"The CFA Chicago board includes executives and leaders from organizations across Chicagoland, representing the wide diversity of our membership that forms Chicago's financial and business community," said Angela McKay, CAE, CEO and President, CFA Society Chicago. "The board will lead CFA Chicago, and continue to grow and evolve to the benefit of all our members by leading the investment profession in the promotion of the highest standards of ethics, education and professional excellence in the investment community."


Chairman: Christopher Vincent, CFA
Christopher Vincent, CFA, is the manager of the William Blair Income Fund and co-manager of the William Blair Bond Fund. He joined William Blair, a global investment banking and asset management firm, in June 2002 and he leads the Investment Management group's fixed-income team, which oversees approximately $2.4 billion dollars across money market instruments, municipal bonds, structured securities, investment-grade credit, and high-yield bonds.

Vice Chairman: Kerry Jordan, CFA
Kerry Jordan, CFA, is the Director of Business Development for Iron Road Capital Partners, the alternative investments unit of RMB Capital. In this role, she builds awareness of Iron Road and promotes its underlying investment strategies, introducing new clients and conducting ongoing investor relations.

Secretary/Treasurer: Carmen A. Heredia-Lopez, CFA
Carmen A. Heredia-Lopez, CFA, is the Chief Investment Officer at the Chicago Teachers Pension Fund (CTPF) and is responsible for the Fund's $10 billion investment portfolio. She provides oversight of the global, internally and externally managed multi-billion portfolio of cash, equities, fixed-income, real estate and alternative investments.

New CFA Chicago Board Members:
William Atwood - Executive Director, Illinois State Board of Investment (ISBI)
Doug Brown - Chief Investment Officer, Exelon
Gautam Dhingra, CFA - Founder and CEO, High Pointe Capital Management, LLC
Doug Jackman, CFA - Executive Vice President, Thomas White International, Ltd
Christopher Mier, CFA - Chief Strategist and Managing Director, Loop Capital
Maura Murrihy, CFA - Member, Asset Manager Code of Conduct Advisory Committee, CFA Institute
Stephen N. Potter - President, Northern Trust Asset Management
Justin Sheperd, CFA - Chief Investment Officer, Aurora Investment Management L.L.C.
Donna Sims Wilson - Executive Vice President, CastleOak Securities, L.P

Returning CFA Chicago Board Members:
Brian Collins, CFA - Chief Investment Officer, Harbor Capital Advisors
Wendell Mackey, CFA - Founder, Channing Capital Management, LLC
Terry Mullen, CFA - Managing Director/Vice President, Allstate Investments
Patricia Ann Halper, CFA - Partner and Managing Director, Chicago Equity Partners
Robert A. Taylor, CFA - Partner, Portfolio Manager and Director of International Research, Harris Associates L.P.

CFA Society Chicago
CFA Society Chicago,, aims to lead the investment profession by promoting the highest standards of ethics, education, and professional excellence; to shape an investment industry that serves the greater good; and to serve as the premier local resource for Chartered Financial Analyst designees, candidates, other investment professionals and our communities. Founded in 1925, CFA Society Chicago has more than 4,200 members and is the world's oldest investment analysts' society. View pdf.


Let CIPM Set You Apart as an Investment Performance Professional

Only one designation offers the advanced skills in investment performance and risk evaluation that prove your skill, commitment, and integrity. The Certificate in Investment Performance Measurement (CIPM®) offered by CFA Institute provides a practice-based approach to attribution, manager selection, and risk management to drive smarter, more effective investment decision making.

The CIPM curriculum is based on an advanced body of knowledge that is continuously reviewed and updated by more than 1,000 active investment practitioners around the world to ensure it is relevant to you:

  • Approximately 70% of the curriculum and readings cover advanced performance evaluation (measurement, attribution, appraisal, manager selection).
  • Approximately 30% covers ethical and professional standards, including how firms can comply with the Global Investment Performance Standards (GIPS).

Learn more and register today


Members: Attend Upcoming Events for Free with Function Tickets - Use Your Function Tickets Before June 30

CFA Chicago regular and candidate members received two electronic function tickets in July 2013, to be used for payment at select events through June 30, 2014. If not used, these tickets will expire on June 30.

How to Apply Function Tickets for Events:
1. Click on the name of the event you want to register for.
2. Scroll to the bottom of the event description, click "Register Online."
3. Under the Member Price, click "log in."
4. Log in with your CFA Institute ID# and CFA Chicago password.
5. Enter attendee information and choose the member price.
6. Scroll down to the payment information section and use the drop down menu to select Function Tickets.
7. Choose "No Payment Required."
8. Complete registration.

Learn More about Function Tickets.


Exposure Draft for Firm Notification Requirement Released for Public Comment

The GIPS Executive Committee seeks comment on the proposed new requirement for firms that claim compliance with the GIPS standards to notify CFA Institute of such claim. The purpose of this new requirement is to address the expressed requests of various stakeholders across the globe for more information related to compliance with the GIPS standards. The information gathered will also help stakeholders of the GIPS standards understand trends that indicate where growth in the adoption of the GIPS standards is taking place, which markets need more resources, where more promotional efforts should be focused, etc. Comments will be accepted through an online form for the very first time. Please submit your feedback no later than Monday, 7 July 2014.


GIPS Standards Volunteer Opportunities

CFA Institute is seeking volunteers to serve on the Global Investment Performance Standards (GIPS) Executive Committee and GIPS Technical Committee. The GIPS Executive Committee serves as the governing body of the GIPS standards, and is responsible for the strategic development, promotion, and implementation of the GIPS standards, while the GIPS Technical Committee is responsible for the technical oversight of the GIPS standards.

Nominees must have significant knowledge of investment performance and the GIPS standards and be able to assist in ensuring the integrity, consistency, and applicability of the GIPS standards. Volunteers are needed to represent a broad spectrum of geographical areas (countries and regions), as well as key industry and investor groups (plan sponsors, consultants, investment managers, regulators, individual investors, verifiers, performance measurers, etc.).

GIPS Executive Committee and GIPS Technical Committee Openings:

  • Three GIPS Executive Committee Member-At-Large positions
  • GIPS Technical Committee Member-At-Large
  • GIPS Technical Committee Verification Subcommittee Chair

To request a GIPS nomination application, please contact The nominations period for these positions is open until 20 June 2014 at 17:00 ET. The GIPS Nominations Committee will review and analyze all completed nomination applications and submit recommendations for the five open positions to the CFA Institute Board of Governors for their review and approval.

CFA Chicago in the News: Putting Investors First Month

Putting Investors First Month got off to a great start with kick-offs in New York and Chicago on May 1, 2014. The New York Society of Security Analysts, with CFA Society Buffalo, kicked off Putting Investors First month with the ringing of the NYSE closing bell. That same day they held a free, live-stream event covering best practices for individuals, firms, and policymakers to improve the future of finance. CFA Society Chicago also held their 2014 Annual Conference, titled Adapting Investment Strategies to a Changing World. The tremendous participation of societies in this initiative was also highlighted by John Rogers in his address at the Annual Conference in Seattle. (John's presentation starts at the 3:45 mark.)


CIPM Registration Now Open

CIPM registration is open until July 31 for the October 2014 exam. Certificate in Investment Performance Measurement (CIPM) Program provides advanced, globally relevant, and practice-based investment performance and risk evaluation skills. The CIPM designation will set you apart as a deeply knowledgeable investment performance professional committed to your clients' best interests and your firm's success.

CIPM prepares you to:

  • Deliver more actionable investment insights
  • Improve manager search and selection
  • Provide feedback to maximize your firm's efficiency
  • Increase risk awareness
  • Produce comprehensive and transparent reports

Registration for the October 2014 CIPM exam is open until 31 July 2014. Learn more.


CFA Society Chicago Supports Putting Investors First Month: May 2014

As an organization we are seeking to be more proactive about changing the industry for the better. The CFA Institute Future of Finance initiative has a mission to "shape a trustworthy, forward-thinking financial industry that better serves society." The CFA Chicago Annual Conference on May 1, in Chicago, will focus on practical implementation matters and the theory behind the practice. But we should also consider why we do what we do. We want to do well for our clients. At the conference, attendees will receive the Statement of Investor Rights. This statement spotlights ten rights that investors should expect from any financial professional.

Even if we get all the technical details right, but our clients don't trust us, they probably won't stick around. A 2013 investor study by CFA Institute and Edelman showed that the number one attribute in hiring an investment manager was someone "trusted to act in my best interest." Only half as many respondents said "ability to achieve high returns." So in addition to what you learn from our expert speakers at the conference, take these rights to your clients and show them how you truly represent their interests.

Hear what Nobel laureate Robert Shiller, who sits on the CFA Institute Future of Finance Advisory Council, had to say.


CFA Society Chicago Annual Conference Speakers Ian Bremmer and Brian Singer, CFA, Share How to Adapt Investment Strategies in a Changing World

CFA Society Chicago Annual Conference on May 1, will bring together the greatest minds in finance including leading CIOs, equity and fixed income market experts, pension plan thought leaders, global political risk research analysts, investment strategists and traders at the University Club in Chicago, 11:30 am - 6:30 pm. More


CFA Chicago Annual Conference 2014, feat. Ian Bremmer and Brian Singer, CFA

Registration is now open for the CFA Chicago Annual Conference on May 1. The half-day conference will focus on Adapting Investment Strategies to a Changing World with keynote speakers Ian Bremmer and Brain Singer, CFA. The conference will also feature two panel discussions:

  • CIO Perspective - Anticipating and Managing New Risks
  • What Lies Beneath: Seismic Shifts in Market Structure - Equity, Fixed Income and Regulatory Perspectives

Hear directly from thought leaders from: Eurasia Group, William Blair, Exelon, Ariel, Federal Reserve Bank of Chicago, CPS Teachers' Pension and Retirement Fund, Northwestern University Endowment Fund and BlackRock.

CFA Chicago Annual Conference Details


CFA Chicago Announces Spring/Summer Reading List

Meet local authors, explore and debate timely industry events and get to know like-minded financial literature enthusiasts. The CFA Society Chicago Book Club embraces discussion of a wide range of themes in the informal environment provided by the book club. From tried and true classics to cutting-edge industry ideas, well-known leaders and niche topics in between, we have something for everyone.

Meetings are Thursdays at 4pm, join us in person or on the phone:

April 17 - Lean In by Sheryl Sandberg
May 22 - Clash of Cultures: Investment vs. Speculation by John Bogle
June 26 - Markets Never Forget (But People Do) by Ken Fisher
July 24 - Red Ink: Inside the High-Stakes Politics of the Federal Budget by David Wessell
Aug. 28 - Lords of Finance: The Men Who Broke the World by Liaquat Ahamed

Register at

Note: CFA Chicago's Informal Happy Hours are typically held on Thursdays at 5pm. Now you can attend the book club and continue your discussion at the Informal Happy Hours.


CFA Society Chicago Names Illinois Institute of Technology Champion in the CFA Institute Research Challenge Local Level Competition

The Illinois Institute of Technology Stuart School of Business team was selected as the winner of the CFA Institute Research Challenge, hosted by CFA Society Chicago on Feb. 7. The Illinois Institute of Technology team had the highest overall score, defeating teams from Benedictine University, DePaul University, Loyola University Chicago, Northern Illinois University, Northwestern University, Saint Xavier University, and University of Illinois at Urbana-Champaign. More.


Registration Open for 67th CFA Institute Annual Conference: Shaping the Future of Finance in Seattle

Hosted with CFA Society Seattle
May 4-7

The risk, opportunities, and challenges facing the global investment profession are as complex as ever and investment professionals must remain current. If you attend only one investment conference each year, make sure it's the CFA Institute Annual Conference.

The flagship CFA Institute Annual Conference rotates continents each year and is one of the investment industry's largest and longest-running educational gatherings of investment professionals, attracting as many as 1,800 delegates from 70 countries in prior years. Speakers include top economists, legendary investors, bestselling investment authors, and governmental and regulatory leaders who share insights on today's most critical investment issues, examine market trends, uncover new investment opportunities, and deliver practical investment advice. Featured Speakers Include:

  • Tomas Sedlacek - Chief Macroeconomic Strategist, CSOB
  • William F. Sharpe - 1990 Nobel Laureate in Economic Sciences, STANCO 25 Professor of Finance, Emeritus, Graduate School of Business, Stanford University
  • Nate Silver - Founder, Author, The Signal and The Noise

Groups of five or more delegates from the same firm who register by 1 April 2014 receive a discounted rate of US$700. Register a group now and save (PDF).

Read pre-conference highlights on the Annual Conference blog and register now to join us in May.

If you haven't been to a CFA Institute Annual Conference before, experience the excitement now by watching this video.


CFA Chicago Board Member Carmen Heredia-Lopez, CFA, Appointed Chief Investment Officer for Chicago Teachers' Pension Fund

The Chicago Teachers' Pension Fund (CTPF) named Carmen Heredia-Lopez as its new chief investment officer. As CIO, Glen Ellyn resident, Heredia-Lopez, 43, oversees the globally diversified multi-billion dollar portfolio of cash, equities, fixed-income, real estate and alternative investments - and ensures the plan's growth and long-term prosperity through the continued prudent management of its nearly $10 billion investment portfolio. She previously served for three years as CTPF's director of investments. More

Final Five Teams Competing in the CFA Institute Research Challenge Local Level Competition Announced

Cheer on five teams of students from area universities on Feb. 7, as they compete in the CFA Institute Research Challenge hosted by CFA Society Chicago. The competition kicked off Nov. 22 with eight universities participating; and is now down to the final five teams. Listen as the teams present their research on Littelfuse, Inc. (NASDAQ: LFUS) to a panel of judges who are CFA Charterholders and experts in equity research. More

The final five teams:

  • DePaul University
  • Illinois Institute of Technology
  • Loyola University
  • Northern Illinois University
  • University of Illinois at Urbana-Champaign


CFA Chicago Member Cory Fulton Named to Emanuel's Affirmative Action Advisory Board

Cory Fulton, (30), a key staff member of the Mesirow Financial Wealth Management group, was appointed by Mayor Rahm Emanuel to the City of Chicago's Affirmative Action Advisory Board. The board oversees the city's procurement decisions as they relate to minority and women-owned businesses in public contracting. More


CFA Chicago Event with Richard Fisher, Dallas Fed, Covered in WSJ

Fed's Fisher: Time To Taper Fed's Bond Buys Is Now
Source: The Wall Street Journal

Mr. Fisher also spoke to the CFA Society Chicago at the University Club of Chicago. During that talk he said the Fed's asset purchases are essentially "subsidies for the big boys," namely the largest banks and biggest hedge funds and investors. More


Annual Dinner Photos Available

View photos from the 27th CFA Chicago Annual Dinner, featuring Nate Silver


CFA Society Chicago CEO and President, Angela McKay Named Forty Under 40 Award Honoree

CFA Society Chicago CEO and President, Angela McKay, CAE, has been named as one of the recipients of the USAE and Association Forum inaugural Forty Under 40® Awards. The inaugural class of honorees was selected from nearly 150 applicants who work for associations and nonprofits across the country who are 39 years of age or younger and demonstrate strong leadership skills and potential along with a solid commitment to the association industry.

USAE has published the digital version of the Forty Under 40® Awards special edition with the Honoree's profiles.


CFA Society Chicago Member and Former Chairman Heather Brilliant, CFA, Earns Crain's Chicago Business 40 Under 40 Title

Heather Brilliant oversees an army of Morningstar Inc. analysts-120, scattered all over the world. When she's not jetting around to visit clients and her team members at outposts in 15 countries, she's working with an 80-employee group at the home office in Chicago, guiding the company's equity and corporate credit analysis and managing six direct reports. More


CFA Chicago member and Past President Joan Rockey, CFA, CAIA, CPA, announced as Chapter Head for CAIA Chicago

CAIA Chapters around the world help members expand their networks, find jobs and keep abreast of alternative industry developments. CAIA Chapters produce more than 100 events per year. More


CFA Society Chicago Announces University Competition featuring Littelfuse, Inc.

Eight Illinois Universities and Business Schools to compete in local level of the CFA Institute Research Challenge

CFA Society Chicago announced today the eight Illinois universities and business school competing in the local level of the CFA Institute Research Challenge. Teams of three to five students representing each school will focus their equity research on Littelfuse, Inc. (NASDAQ: LFUS) the global leader in circuit protection and an emerging player in power control and sensing technologies. More


CFA Chicago Board Member Kerry Jordan, CFA, Profiled by The Glass Hammer

When Kerry Jordan, CFA, Director of Marketing and Chief Compliance Officer, Chicago Capital Management L.P., was first starting out in her career, she wished that she knew how to remind herself that everything would be alright. She explained, “If you make a mistake, you have to acknowledge it, learn from it, and move on from it.” It is also important to recognize early in your career just how vital it is to act with integrity, competence, and respect and to maintain a credible reputation. More


CFA Society Chicago Board Member Carmen Heredia-Lopez, CFA, is Profiled by aiCIO
Switching Up the Status Quo in Chicago

Carmen Heredia-Lopez, CIO of Chicago Teachers', has an unusual set of risks to manage-and an unusual investment team to help her do it. If Chicago's public teacher pension plan were a hedge fund, it would be in the vein of Third Point or Perishing Square. More


CFA Institute Honors CFA Chicago Member Richard Ennis, CFA, for Key Contributions to the Profession

CFA Institute, the global association of investment professionals that sets the standard for professional excellence, honors CFA Chicago member Richard Ennis, CFA with the C. Stewart Sheppard Award for his outstanding contribution to the financial industry.

Richard Ennis, CFA, former principal and chairman of the board of directors at Ennis, Knupp and Associates and expert witness in fiduciary and investment litigation who has been published in such journals as the Financial Analysts Journal and Journal of Portfolio Management, is recognized for his outstanding contribution in fostering the education of professional investors with the C. Stewart Sheppard Award.

The C. Stewart Sheppard Award was established to honor a CFA charterholder in recognition of their outstanding contributions, through dedicated effort and inspiring leadership, in fostering the education of professional investors through advancement of the Body of Knowledge and development of programs, publications, or other learning tools to encourage continuing education in our profession. More


CFA Institute Global Market Sentiment Survey

This week, CFA Institute members will have the opportunity to speak out on market sentiment, performance, and market integrity issues in 2014. Check your email for the survey invitation from CFA Institute and make sure your opinion is a part of the conversation.


More than $56,000 Available in Scholarships to Chicago-area Financial Professionals in 2013-2014
CFA Chicago and CFA Institute Scholarships available for CFA Exam and Prep Materials

CFA Society Chicago is pleased to announce that more than $56,000 in scholarships are available in 2013-2014 for candidates planning to sit for the CFA exam. CFA Chicago and CFA Program scholarships contribute to the vision of serving the interests of investors and society by promoting awareness of CFA Chicago and CFA Institute programs and by providing access to those programs to individuals.

As part of our mission to lead the investment profession by setting the highest standards of ethics, education, and professional excellence, CFA Chicago is pleased to offer educational opportunities to current and future stewards of the world's investment markets.

2013-2014 Scholarships:
Kimberly Paige Memorial Study Scholarship (sponsored by CFA Society Chicago)
Covers the cost of Kaplan Prep Course. Up to four scholarships awarded per year. Application deadline: July 19, 5pm CT. Apply

CFA Exam Registration Scholarships (sponsored by CFA Society Chicago)
Reduces CFA program enrollment fees and/or curriculum expenses. Up to 10 scholarships awarded per year. Application deadline: Aug. 16, 5pm CT. Apply

CFA Institute Access Scholarships
Reduces CFA Program enrollment and exam registration fees. Up to 35 scholarships awarded per year. Apply


'Future of Finance Starts With You' Video Lunched by CFA Institute

The Future of Finance project is a long-term global effort to shape a trustworthy, forward-thinking financial industry that better serves society.

Watch this clip to see the role that finance plays in our lives and how we all need to do more to build a better industry. 'Future of Finance Starts With You' Video


CFA Chicago Member Elizabeth Higashi, CFA, named NIRI-Chicago President for 2013-2014

"NIRI-Chicago offers its Midwest members both topical educational programs and engaging social networking opportunities," said Elizabeth M. Higashi, incoming chapter president. "We host a variety of events on a broad range of IR topics with experts in the fields of IR, communications, finance, capital markets, regulatory issues, corporate governance and career development. Our community benefits from the range and size of companies and individuals who comprise our membership and who willingly share their expertise and experiences at our formal and informal events. More


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