News & Updates
Morningstar named Kunal Kapoor as its next CEO, elevating an executive who has made his career at the Chicago investment research company since emigrating from India to attend college in Illinois. As Kapoor, 41, becomes CEO, Morningstar founder Joe Mansueto, 60, will give up that post but add "executive" to his chairman title. Both moves take effect Jan. 1, according to a statement from Morningstar. ( via Crain's)
Institutional Investor's 2016 All-America Fixed-Income Research Team includes CFA Society Chicago Board Member Alex Roever, CFA
CFA Society Chicago board member, Alex Roever, CFA, was named to Institutional Investor's 2016 All-America Fixed-Income Research Team under the Fixed-Income Strategy and Short-Duration Strategy categories. To view the full list of individuals on the team and methodology for selection, please visit Institutional Advisor.
Loyola University Chicago's Bachelor of Business Administration in Finance and Master of Science in Finance programs were recently accepted into CFA Institute's University Recognition Program, indicating their curricula is closely tied to professional practice and can help students prepare for the CFA exams. Inclusion in this program also provides Loyola University with three to five CFA Program scholarships each fiscal year. This is the first university in the City of Chicago to be included in the Recognition Program. Loyola University Chicago is a private university founded in 1870. With total enrollment at a little over 16,000 students, the university offers 80+ graduate and 80+ minor programs. Loyola University Chicago is home to 11 schools and colleges and is comprised of four campuses: Lake Shore (LSC), Water Tower (WTC), Health Sciences (HSC), and the John Felice Rome Center in Italy. To learn more about CFA Institute and the University Recognition program, please visit www.cfainstitute.org.
Past CFA Society Chicago Chairman Mark Hutchinson, CFA joins UBS Private Wealth Management's Chicago office
Mark Hutchinson joined UBS Private Wealth Management's Chicago office from Credit Suisse, where he oversaw $320 million in client assets and had an annual production of $2.23 million. Mr. Hutchinson will report to Mike Gatewood, UBS Complex Director for Private Wealth Management, and will focus on ultrahigh-net worth clients. (Chicago Tribune)
CFA Society Chicago Board Member Lyndon A. Taylor named head of the Chicago office of Heidrick & Struggles
CHICAGO, Jan. 4, 2016 /PRNewswire/ - Lyndon A. Taylor has been named head of the Chicago office of Heidrick & Struggles (Nasdaq: HSII), a premier provider of executive search, leadership consulting and culture shaping worldwide. He will continue to be active within the firm's Financial Services Practice as well as the CEO & Board Practice. More
The University of Chicago, the third wealthiest private university in the Midwest, posted a 4.8 percent investment gain on its endowment for the year ended June 30. The size of the fund grew 1.5 percent to a record $7.6 billion, according to a statement by the Chicago-based school Thursday. The fund has been managed since 2009 by Mark Schmid, a former chief investment officer at Boeing Co. Its 10-year annualized return is 8.3 percent. The university's endowment was the 13th largest in the U.S. as of June 2014. The median return for endowments and foundations with more than $500 million in the latest year is 3.6 percent, according to an estimate by Wilshire Trust Universe Comparison Service. (Bloomberg)
Financial Executives International (FEI) Chicago Chapter will be recognizing local financial leaders at its upcoming 5th Annual Chicago CFO of the Year Awards gala. Joan Rockey, CFA with CastleArk Management, LLC is a past Chairman of CFA Society Chicago (2009-2010) and finalist for this year's Chicago CFO of the Year Award. Nominees for the award must be a Chief Financial Officer or equivalent within their organization for a minimum of two years and be based in the Chicagoland metropolitan area. FEI's Chicago CFO of the Year Award will be presented at this year's gala being held on November 19, 2015, at the Marriott Chicago Downtown Magnificent Mile.
As a sought-after professionals in our industry, CFA Chicago would like to invite you to participate in the CFA Chicago's 2015 Financial Compensation Survey. Your participation will provide you-and the rest of the industry-with a unique comparison of salaries, job satisfaction, motivational factors and other industry trends in the financial and investment sectors.
In addition to Chicago, we are excited to share that financial and investment professionals from the Madison, Milwaukee, St. Louis and Twin Cities markets are also participating in this survey. This will deliver to you not only localized compensation levels and pay structure, but also aggregate-level data of your peers for the entire region.
This survey is fully anonymous, with no identifiable data gathered, and will close May 8th. The findings of this region-wide research will be released once the analysis is completed. To help us compile as robust a set of responses as possible, please share this survey (https://www.surveymonkey.com/s/CFA15) with your personal network of financial and investment professionals in the region.
The survey will remain open through May 8, 2015. Questions regarding the survey can be sent to firstname.lastname@example.org.
Michael W. Atwood, CFA, has been named president of the First State Bancorp of Monticello, Inc. He has also been named to the company's board of directors. First State Bancorp is the parent company of First State Bank and First State Bank of Bloomington, IL. More
At William Blair's 10th annual luncheon to honor the firm's more than 120 CFA charterholders, attendees were challenged to take a critical look at how the investment industry and its clients define success.
"The unbalanced pursuit of alpha is a huge problem in our industry," Duncan said. "We as an industry need to redirect more of our time, energy, and resources to helping clients achieve their long-term goals."
The event was the 10th annual luncheon William Blair has hosted to honor its employees who have earned the Chartered Financial Analyst charter. In addition to being one of the largest employers of CFA charterholders in the Chicago area, William Blair has a long tradition of leadership within the CFA Institute and the CFA Society Chicago.
"This annual luncheon is an important event because it's a chance for us to honor the charterholders and thank them for their commitment to the charter's ethical underpinnings and for all of the analytical work they do on behalf of our clients," said Chris Vincent, CFA, who heads William Blair Investment Management's fixed-income team and has served as chairman of the CFA Society Chicago's board of directors for the past year.
Michelle Seitz, CFA, head of William Blair's Investment Management, said she is extremely proud that so many CFA charterholders throughout the firm are actively involved in the CFA Society Chicago through various leadership, teaching, and mentoring roles. "It shows how passionate our people are about the profession of investing and how committed they are to making sure the industry delivers the highest levels of service, performance, and innovation for our clients."
About William Blair
The Board of Directors of CFA Society Chicago is pleased to announce that Shannon Curley, CFA has been selected as the new Executive Director of CFA Chicago.
Curley joins CFA Society Chicago with more than 25 years of investment management and financial operational experience. He has been a Charterholder since 1997, and has been a member of the CFA Chicago since 2004. Previously, Curley worked at UBS O'Connor, LLC as a Director of the Long/Short Equity Hedge Fund. He has held various financial and investment positions in New York, Houston and St. Louis before moving to Chicago. Curley has a MBA in Finance from Tulane University, a BA in Economics and BA minor in Mathematics from Fairfield University.
"I'm excited to join CFA Society Chicago, an organization rich in history and success. In 2015 we will be celebrating the 90th anniversary of CFA Chicago, and I look forward to commemorating the society's milestones and charting a path to new successes and growth," said Curley.
CFA Chicago will continue to focus on its mission 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.
A Contrarian View of Emerging Markets
CFA Institute annual survey highlights importance of central bank policies for 2015 market performance, notes concerns about weak developed markets and political instability
Investment professionals worldwide expect the global economy to grow an average of just 2 percent in 2015, according to the CFA Institute 2015 Global Market Sentiment Survey (PDF). Survey respondents-who include portfolio managers, research analysts, and C-suite executives-cite political risks, including secessionist and nationalistic movements, as the most underestimated risk that could negatively affect markets in the next five years. The annual CFA Institute survey measured the opinion of 5,259 CFA® charterholders and members, representing the views of professional investors around the world. To review the complete report and survey results, visit www.cfainstitute.org/gmss.
Read the CFA Institute 2015 Global Market Sentiment Survey (PDF).
CFA Society Chicago recently hosted an event that was an opportunity to hear straight talk from three leading experts on China's economy-while asking if Chinese shadow banking is "a valuable new source of funding, a replay of US subprime lending or somewhere in between?" Read more
CFA Chicago Board Member Carmen Heredia-Lopez, CFA appointed Kellogg Foundation Director of Investments
Carmen Heredia-Lopez, current CIO of Chicago Teachers Pension Fund, has been tapped to lead the W.K. Kellogg Foundation's $8.3 billion portfolio. More
CFA Chicago is excited to announce the launch a new chapter in the history of CFA Chicago - the CFA Society Chicago Blog.
The Communications Advisory Group developed this new communication tool, populating it with event news, speaker recaps, society news and more. As the blog continues to grow, I invite you to submit articles that address current trends and research in the in the investment industry. This blog will also be an exciting part of the society's 90th anniversary celebration, starting in 2015.
Browse the blog, read about our great events ... and members - consider joining the Communications Advisory Group.
CFA Society Chicago invites all members to support the Greater Chicago Food Depository by participating in the 1 City, 1 Food Drive campaign by donating one bag of food.
We invite you to drop off one bag of non-perishable food donations at our office now through Thurs., Dec. 11. Drop off location: 134 N. LaSalle Street Lobby or our office in suite 1740.
CFA Chicago's mission is 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. CFA Society Chicago, the world's first investment analysts' society, is committed to working with our members and the investment community to achieve our mission by expanding our investment culture to serve the interests of investors and society.
View photos from the 28th Annual CFA Society Chicago Dinner, held on Oct. 23, 2014, at the Navy Pier Grand Ballroom in Chicago. View Photos
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:
Registration for the October 2014 CIPM exam is open until 31 July 2014. Register Now
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."
CFA CHICAGO BOARD OFFICERS:
Chairman: Christopher Vincent, CFA
Vice Chairman: Kerry Jordan, CFA
Secretary/Treasurer: Carmen A. Heredia-Lopez, CFA
New CFA Chicago Board Members:
Returning CFA Chicago Board Members:
CFA Society Chicago
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:
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:
Learn More about Function Tickets.
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.
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:
To request a GIPS nomination application, please contact email@example.com. 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.
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 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:
Registration for the October 2014 CIPM exam is open until 31 July 2014. Learn more.
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
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:
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.
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
Register at www.CFAChicago.org/events
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
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:
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).
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:
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