WhartonAlumni Winter2015

UNDER
Meet some of the

Schools bright
young stars
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2014 | 2010 | 2005 | 2000 | 1995 | 1990 | 1985 | 1980 | 1975 | 1970 | 1965 Emeritus Society 1932-1965
EXECUTIVE
EDUCATION
Its quite an intensive

experience. You build an
ternational network of highly
skilled managers from different
functions and business sectors.
Interpersonal relationships are key to
the success of your business.
GERALDINE EKKERS
Marketing & Communications
Manager, Manufacturing
Company, Italy
2015 Senior Management Offerings

EXCEL AT THE HIGHEST LEVELS
Make Wharton Knowledge Your Competitive Advantage Wharton Fellows: Master Classes and
Networking for Senior Executives
February 1518 Austin, TX
In todays increasingly complex and competitive world, successful leaders May 1720 Tel Aviv, Israel
are those who want more. They stretch their organizations, their people, September 29October 2 Philadelphia, PA
themselvesnever content to rest on past successes. Each year, senior
Executive Development Program
executives from around the globe choose Wharton to advance their leadership March 1527 September 1325
capabilities and gain knowledge that creates value for business and society.
Here, assumptions are challenged, ideas are tested, and peer networks are The CFO: Becoming a Strategic Partner
April 27May 1
formed, resulting in a learning experience that inspires you to excel even further.
Advanced Management Program
May 31July 3 September 27October 30
Learn more and watch participant stories at:
www.WhartonSeniorManagement.com NEW! The CMO Advantage:
Evolving Beyond the Digital Revolution
June 811 and September 2425
A Wedding to Remember
at The Penn Club
Marrying a Penn alum or hosting a wedding for
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Contents WINTER 2015 FEATURES
20 The Wharton 40 Under 40
Wharton Magazine presents the
inaugural list of young alumni to know
and keep an eye on.
54 Trust Issues
At a time when public condence in
organizations is at an all-time low,
the challenges facing a trustworthy
organization in a multistakeholder
world are complex. There is hope
however. BY MICHAEL J. OBRIEN
60 Hungry for a Sweeter

Workplace?
Wharton alumna Victoria B. Mars
WG84 has ensured her family business
remains one of the most principled
organizations on the planet.
BY MATTHEW BRODSKY
64 MBA for Executives:

A Program Rising
Whats made the Wharton MBA for
Executives Program special over the
past ve decades and continues
to make it a leader today? It has
anticipated changing student demands
and expectations.
BY MEGHAN LASKA
70 Small Dorm Rooms,

Big Startup Funds
Since the launch of the Dorm Room
Fund in 2012, the student-run venture
capital experiment has proved its
point: Entrepreneurs can remain in
college and create successful startups.
BY JOSHUA BROCKMAN
74 Animal Attraction
Alumni are bringing the Wharton
pedigree to all facets of the pet care
industry. BY SAMANTHA DRAKE CGS06
20
WHARTON
DEPARTMENTS MAGAZINE
6 Debrief Executive Director,
40 HOURS AND COUNTING Communications
WATCH LIST: Books Sherrie A. Madia, Ph.D.
BOOSTING BOARDS WITH DIRECTORS
RESUME BOOK EDITORIAL STAFF
REGIONS
Editor
WDP: Why Sports Matter
Matthew Brodsky
4x1: Semester in San Francisco
Associate Editor
33 Class Notes Susan McDonnell
52 Alumni Executive Board Update Editorial Committee

Kathryn Bezella
80 Share Your Story Eric Borgelt
The Wharton Effect Malini Doddamani
70 Joan Adams Hewitt
Michelle Hopping
Karuna Krishna
ESSAYS 9
Kembrel Jones
Jerry Steinbrink
Meredith Stone
16 Alumni
Saving Capitalism From a Painful Demise Student Interns
Taylor Campbell
Emily Chisholm
18 MBA
Carolina Ortiz
Defusing an Exploding Inbox Andre Serrano
Creative Services
Justin Flax
Colleen Foley
74 Design
Aldrich Design
54 Advertising Inquiries
advertising@wharton.upenn.edu
ADMINISTRATION
Geoffrey Garrett
Dean and Reliance Professor of
Management and Private Enterprise
Sam Lundquist
Vice Dean
External Affairs
Wharton Magazine
Vol. 21 Edition 1
Wharton Magazine is published
quarterly by the Wharton External
Affairs Office, 344 Vance Hall,
3733 Spruce Street, Philadelphia,
PA 19104-6360
Change of Address
Online: Visit
WhartonConnect.com
Mail: Wharton Magazine, Attn:
Alumni Address Update, Wharton
External Affairs, 344 Vance Hall,
3733 Spruce Street, Philadelphia,
(( ON THE web )) PA 19104-6360
Visit www.whartonmagazine.com for expanded features and new content each week on the Wharton Blog Network. Telephone: +1-215-746-6509
Fax: +1-215-898-2695
VISIT WHARTON ON
HIGH
SCHOOL
SUMMER EDITORS LETTER
PROGRAMS
Meet the Wharton 40 Under 40
at
PENN
A Wharton 40 Under 40 list? Are
we out to blow your mind? Not
necessarily. As a Wharton alum
(or student, faculty member, parent or
friend of the School), you already know that
the institution produces many, many star
alumni. Name a business sector, and you
will nd that the most successful individuals
in it brandish the word Wharton on their
LinkedIn proles.
In the Wharton 40 Under 40, there are individuals you certainly
have heard about, maybe even have seen on TV. At the very least, if
they are in your eld, you know of them, maybe even have taken their
calls or done business with them.
What were hoping, though, is that this list will provide at least a
few eye openers. Were hoping it will bring to your attention young
ART: alumni worthy of your time and consideration.
Summer at Penn And we hope that the list brings attention to as many deserving
young alumni as possible through this years and subsequent years
ARCHITECTURE: lists. The idea is that there will be another 40 Under 40 next year,
Summer at Penn and for years to come. Thats where the 40 Under 40 nominating
process comes in. Let us know whom we missed on this years
INTERNATIONAL AFFAIRS:
list. Tell us on social media with the hashtag #40Under40. Or
Learning Leadership
simply give us a shout (hopefully not literally shout at us) on email
through Model UN at: magazine@wharton.upenn.edu.
Countless alums are worthy of our attention (93,000 to be exact).
SUMMER INTERNSHIP
That said, the 40 Under 40 is not a ranking. Think of it more like a
Program
cross-section of the young alumni community, representing its depth
PENN MEDICINE and breadth across industries, regions and nationalities. We know
Summer Program that all Wharton alumni are already part of an elite subset of the
business universe.
Matthew Brodsky
Editor
jkcp.com
MY CITY,
MY WAY.
MY DOCKSIDE
Saturday evening:nding
La
C oncert at Penmnosrning:
Sunday y
Brunch in O ld nCooitn:
Sunday after in hot tub
b y p o o l, t a k e a d ip
Lounge Enjoy Philadelphias best lifestyle,
Sunday night : oking t he river

at The Residences at Dockside.
ks o n te r ra ce, o ve rlo Elegant waterfront condominiums,
Dinner & drin Monday morning:

magnicent views, fabulous amenities,
convenient to everywhere you want to be.
r ea d y f or a new week
hutt le t o Cen t e r C ity, Fitness center/gym Indoor parking
S 24/7 Concierge
Heated indoor pool
Private shuttle
Steps from Penns Landing
1 BRs from the upper-$200s | 2 BRs from the low-$400s | 3 BRs from the low-$800s
717 South Columbus Blvd. | Philadelphia, PA 19147 Sales Center Hours

215-925-3000 | www.docksidecondominiums.com Mon.Sat., 10am5 pm; Sun. 12pm5pm.
Debrief
40 Hours and Counting
Business Radio Powered by the Wharton School
continues to gain faculty and listener support.
W ith just a tap on a touch-screen radio

display, audiences around the world
can now access Wharton thought
leadership 24 hours per day through
SiriusXM Satellite Radio channel 111.
Business Radio Powered by the Wharton School
features more than 20 live shows and 40 hours
of original programming each week, making rich
content from faculty and alumni easily accessible to
SiriusXMs 30 million subscribers. Shows originate
through the Schools new on-campus radio studio in
Jon M. Huntsman Hall, Sirius studio in New York City
and Wharton | San Francisco.
Does all-business programming all of
the time appeal to audiences? The short
answer, it seems, is yes.
Moneyand better money
managementis one of the most important
issues people face, says Kent Smetters,
host of Business Radio show Your Money and
Whartons Boettner Professor in the Business
Economics and Public Policy Department. There is
great need for accurate, clear information that people
can use to make better decisions.
When you provide clear, consistent, nonconicted
advice, an audience will follow, Smetters has found.
He reports regular listeners, consistent caller volume
and a steady stream of emails after each show.
The other part of Business Radios successful
equation? The channel hosts passion for educating
beyond the walls of the Wharton School. After all,
faculty hosts shoulder full research and teaching
loads. Adding regular radio appearances to an
already jam-packed schedule was initially a challenge,
Smetters admits, but the broad, far-reaching impact
of such a medium is worth it.
Education is a passion. Money is tied up in
personal and emotional well-being, and there is great
need for programming like this, Smetters says. As
faculty members, we have the opportunity here to
really help people.
(( ON THE web ))
For a full list of programs and to sign up for a free one-month trial of
Susan McDonnell SiriusXM, visit whr.tn/business-radio. Follow us on twitter @BizRadio111
6 | W H A RTON M AGAZINE | W INTER 2015

Follow SiriusXM Business Radios Weekly Schedule
PETER HOEY
W INTER 2015 | W H A RTON M AGAZINE | 7

THE WATCH LIST identies products, services and companies emanating from the Wharton community
that are worthy of your attention. In this case: books written by alumni.
BOOKS
EVERY WOMAN SHOULD KNOW MOONSHOT! STACKING THE DECK

HER OPTIONS John Sculley WG63, renowned David S. Pottruck C70 WG72 builds
Laurie former CEO of Pepsi and Apple, off his business leadership experi-
Itkin W90 has offers game- ence (e.g.,
scored an Ama- changing strate- as Charles
zon best-seller gies to build Schwab CEO)
by explaining billion-dollar to offer practi-
stocks and businesses. cal advice for
options for the driving change
working woman. across an
organization.
TRILLION
DOLLAR
PROFITING THE BABY
ECONOMISTS
FROM CHASE
Economists arent
THE DATA Get inside the is-
just societys
ECONOMY sue of surrogate
forecasters. They
Who among pregnancy with
are its innovators,
writes Robert Litan
you will shape New York Times
tomorrows big bestselling
W72, Brookings
data economy? author Leslie
Institution senior
Goizuetas David Morgan Steiner
fellow.
Schweidel C01 WG92.
GRW04 GRW06
offers an answer.
BAREFOOT TO BILLIONAIRE
Jon M. Huntsman Sr. W59
HON96, found- THE NEW RULES OF LEAD
er of Huntsman PARENTING GENERATION
Corp. and past WITH A STORY Experienced CMO
chairman of Its not just a David T. Scott
Whartons parenting book. WG98 provides a
Board of Over- Paul Smith strategic update
seers, spent a WG93 offers to tried-and-true,
lifetime writing 101 narratives and new, market-
this autobiog- about character ing techniques.
raphy. development for
adults too.
(( ON THE web )) Know of a new product, service or company for the next Watch List? Tell us: magazine@wharton.upenn.edu.
Debrief
Boosting Boards With

Directors Resume Book
A new service by Career Management helps senior-level alumni to
further themselves by pairing them with appropriate boards.
For Dai, the experience was an amazing

learning opportunity.
Its great to be exposed to more than I
am at my current job, she says.
The Resume Book was conceived
in 2012 when Costello perceived a
need. Senior-level alumni sought a way
to advance their careers by serving
on boardsto fulll a particular area
of personal passion or to take on a
leadership role and add breadth and
depth to their professional experience and
network, Costello explains.
Wharton MBA Career Management
starts the process by collecting resumes
from alumni. When a company or search
PETER HOEY
rm reaches out, Costello works to send

qualied, matching resumes from the
Resume Book within 48 hours of the
A licia Syrett W99 experienced

a moment of School-inspired
serendipity in early 2014 at the
Wharton Women in Business
lunch. She came across a promotion for
the new Wharton Board of Directors
hetexted.comwas in need of an advisory
board member. Within 48 hours of
contacting Costello, Syrett had a book of
Wharton resumes at her disposal.
request.
So far, over 20 searches have taken
place, and 850 resumes have been sent.
Several successful matches have already
occurred, including placements at a major
corporation, startups and nonprots,
Resume Book, encouraging her to One resume jumped out at her, recalls ranging from executive-level positions
submit her resume. After getting more SyrettAlicia Dai W08. Dai participated to junior board positions. Companies
information from Cara Costello, director in the Wharton Board of Directors conducting searches include top executive
of alumni services for Wharton MBA Resume Book because she was interested search rms, smaller private equity
Career Management, Syrett realized that in applying the fundraising skills shed shops, and rms in across 15 industries
she should be the one ipping through gained in her position at a major Internet and regions (e.g., social impact/impact
resumes. company in a different way. Within the investing, technology, startups and
Syrett, CEO of Pantegrion Capital and month, Dai earned an appointment to the nonprots). As of this writing, there are
board member of NY Angels, is involved HeTexted advisory board. 310 resumes in the book.
in seed- and early-stage investments. The exchange was very benecial for Hannah Hartig
She says the need for qualied, skilled both parties.
and suitable candidates for board They were really appreciative of
positions always exists. This time, her her input and told me she was the best
(( ON THE web ))
To hire board talent, visit http://whr.tn/resume-book.
portfolio company HeTextedan online introduction I had made, Syrett says of To participate in the Wharton Board Book, visit
relationship advice platform at www. Dai and the startup founders. http://whr.tn/join-board.

EXPLORE the innovative and myriad ways that Whartons faculty, students,
alumni and partners gain and use knowledge for global impact.
L ATIN AMERICA EUROPE

M I D D L E E A ST
A F RI C A
ALUMNI SPOTLIGHT:
Economics Over Eggs John Gachora

Growing up in Kenya in a modest WM: What were your highlights
peasant family with 12 siblings, from Wharton?
John Gachora WG02 came to GACHORA: One of the best parts of
the Wharton MBA for Executives Whartons [East Coast] WEMBA
(WEMBA) Program with a bit program was indeed the people. It
different background than most wasnt uncommon to be discussing
classmates. Now back in Kenya as a case study and have a student
JOHANNA GOODMAN
group CEO of NIC Bank, a leading in the class actually have been at
nancial services provider in East the company at that time, which
Africa, he was kind enough to share certainly added greater insight to
details of his Wharton journey and the discussion. Other times, Id
career. read about someone
Penn and Wharton alumni in Mexico participated in a textbook and
in a unique breakfast on Aug. 11, 2014. Besides WHARTON MAGAZINE: then meet them at
a light meal, the menu included a presentation by How did you come Wharton. The same
Eduardo Sojo G83, the economist who previously to study in the States thing was true of
served as chief economic adviser to President and at Wharton? the faculty, who are
Vicente Fox and as secretary of economy for JOHN GACHORA: I often mentioned in
President Felipe Caldern. Sojo currently serves as rst came to the the media and on
JOHANNA GOODMAN
U.S. through an Wall Street. To meet
president of the Governing Board of INEGI National
exchange program them in person and
Institute of Statistics and Geography. In the
in high school with learn from them
rendition above are (left to right): Noel Perez C03,
Brooks School in was a tremendous
Sojo, Alberto Gmez Alcal G85, Caleb Osollo Andover, Mass. opportunity.
WG08 and Fernando Gmez Arriola WG14. While attending the
( ( ON THE web ) )
Another highlight
Find the original version of
Brooks School, I Gachoras interview on was the enrichment
became interested the WEMBA Blog at: from classes. I came in
(( ON THE web )) in and visited MIT http://whr.tn/John-Gachora.
quite green in terms of
because a friend people management,
Connect With the Dean from high school had gone there. but when I left I felt like I could
in a City Near You When I returned to Kenya, I applied

and was accepted with a nancial
manage any group of people.
The Wharton School invites you to meet Dean aid package. I was the rst of my WM: Where have you been since?
Geoffrey Garrett as he embarks upon a Global siblings to attend college. GACHORA: I worked for two more
Conversations Tour to engage with alumni around I went on to earn a masters years at Credit Suisse before
the world. International and regional dates include: degree at MIT in electrical moving to Charlotte, N.C., with
engineering and took a job with Bank of America, where I became a
London (March 4)
Credit Suisse in New York. When managing director and head of the
Miami (April 27) I became a vice president in the nancial engineering team. Later, I
San Francisco (May 4) Asset Finance Division, I realized was recruited by Barclays to work
that I wanted to earn my MBA in South Africa as the head of
Seoul (June 10)
to better understand nance corporate and investment banking
Find more information and registration at: and organizational behavior, as for Sub-Saharan Africa. Last fall,
http://whr.tn/global-conversations. well as gain more leadership and I moved back to Kenya to become
management skills. group CEO at NIC Bank.

Debrief
ASIA
New Format for International

Seminar, New Value?
We would travel literally [only] two miles to visit Francisco students another.
a company, and it would take over an hour. It was This years students represented a wide variety of
mind-boggling, says Brad Line about his Wharton industries, according to Kobrin, including someone
International Seminar in Indonesia last September. who works in the White House, an orthopedic
Transportation may have been unbelievably slow, doctor, a global strategy consultant, a manufacturing
but this nation of about 17,000 islands is urbanizing at marketer and a Moscow-based venture capitalist.
breakneck speed, according to Line. As a result, he says, Line enjoyed meeting West Coast students such as
youve got every infrastructure [and economic] problem Judy Staley, co-founder of a solar energy company.
you can possibly imagine from energy to education to It was great bouncing ideas off people like Judy
lifting people out of poverty. who are experts in the solar industry, and seeing how
It was a far cry from the image many Americans have that might apply to Indonesia, he says.
of Indonesia: tropical white sand beaches and exotic Another highlight of the trip for Line was being
animals like Komodo dragons. That side of Indonesia invited to the palace of Dr. Boediono GRW79 for
does exist, and Line got to see it as well. But Jakarta, a Q&A with the vice president of Indonesia. Line
where the group spent most of their time, was about as also joined a small group that visited Tokopedia, the
major a city as you can get. eBay of Indonesia, and its CEO, who discussed
Line, a second-year student in the Wharton MBA for what its taken for them to gain a foothold and
Executives Program and an IT director for a nancial ultimately start being successful.
rm, joined about 60 classmates who chose Indonesia Carole Bernstein
for their week-long seminar. The
trips aim was to study sustainability
in an emerging economy.
Faculty who accompanied
included Stephen Kobrin,
Whartons William H. Wurster
Professor Emeritus of Multinational
Management, and Regina Abrami,
senior fellow in management and
director, Lauder Global Program.
For some students, this was their
rst on-the-ground experience in an
emerging market, Kobrin says.
A new feature of the program
this year was that East Coast and
West Coast executive MBA students
traveled together. Students from
both campuses could choose from
three seminarsIndonesia, Spain to
study the leisure industry or South
Africa to look at entrepreneurship
in an emerging economy. (East Coasters could also visit (( ON THE web ))
San Francisco for an entrepreneurial/VC-focused trip.) Read more of Prof. Kobrins insights from the Indonesia trip
Previously, Philadelphia students went one place, San on the WEMBA Blog at: http://whr.tn/Kobrin-Indonesia.

(( ON THE web ))
Find out more about Sport Matters at http://wdp.wharton.upenn.edu/books/sport-matters. Wharton Digital
Press books are available wherever e-books and paperbacks are sold online throughout the world.
Why Sports Matter

We talk with Whartons eminent expert on the business of
sports about his new Wharton Digital Press book.
In the upcoming book Sport Matters: chapter, Du Bois looks back to fully assess
Leadership, Power and the Quest for the progress in a given setting. That is
Respect in Sports, Kenneth L. Shropshire, my goal here. But in addition to where we
Whartons David W. Hauck Professor of are and have been, how can we do better
Legal Studies and Business Ethics and going forward, and what can we learn
director of the Wharton Sports Business from this, beyond sport?
Initiative, explores the challenges of WM: In the book, you describe the
achieving an ideal culture of equality Dolphins incident, in which several
and respect within the sports industry players allegedly bullied another player, as
from the perspectives of team owners, a Mona Lisa. What do mean by that? WM: Why should these issues matter to
management, players and fans. What SHROPSHIRE: There is so much more sports fans?
follows is an interview with the author there than classic schoolyard bullying. SHROPSHIRE: These issues matter
about the book, its inspiration and more. Once you read the report the National beyond sport for many reasons. First,
Football League issued on the matter, the impact of the optics: The better sport
WHARTON MAGAZINE: Why did you write you see some amazingly nuanced issues does with these issues, the better example
this book? worthy of close examination, including society has to look toward. The classic
KENNETH SHROPSHIRE: In 1996, my book the use of the n-word, negative views of moment is Jackie Robinson integrating
In Black and White: Race and Sports in women, and power dynamics and a lack of Major League Baseball nearly a decade
America was published. So much has respect between men. Like a great work before the landmark court decision on
happened since then. The issues are of art, the more you contemplate that integrating schools, Brown v. Board of
more dominant now than ever, but oh so incident and others like it, the more likely Education. The issues span well beyond
different. Nearly 20 years later, blatant you are to see more than meets the eye or race, from LGBT issues, led this past
racism, such as the throwing of bananas something different from what you saw at year by Michael Sam who became the
at black athletes in Europe, is less of rst blush. rst NFL player to come out as gay, to
an issue. The greater concern is the WM: How do these issues affect players? the little-discussed sexism issues in the
continuing absence of power by people SHROPSHIRE: Interestingly, for players on Sterling dispute. The inuence sport has
of color. The decit exists in ownership the eld of play, it is largely about equal on society, and especially on our youth, is
and top-level management across sports. treatment: Dont take away an athletic undeniable.
In addition to racism, other issues have opportunity because of who I am. For the
emerged that must be addressed to most part, the best player plays. This is
further the progress that has been made, a signicant area of progress; decades
from homophobia to sexism. A case ago, even the position you were allowed
like the drama starring Clippers owner or expected to play was determined by
Donald Sterling shines a light on the race. Strikingly, there is a survival mode
obstacles to equality, respect, diversity that allows athletes to tolerate virtually
and inclusion within sport. anything in the locker room as part of the
As a guiding framework for the book, I game. The impact often shows in some of
reference the title of a chapter in W.E.B. the behavior that occurs in the real world,
Du Bois classic The Souls of Black Folk: in interactions outside of the locker room
Of the Meaning of Progress. In this after the playing days are over.

Debrief
SEMESTER IN SAN FRANCISCO (SSF) nished up its third strong year in a row
this past fall. Its an opportunity for a select group of second-year Wharton MBA students to spend
fall semester at Wharton | San Francisco. In-classroom lectures and informal guest talks, Bay Area
encounters and explorationtheres a lot to experience and benet from. Wharton Magazine asked four
2014 SSF students to narrow down their favorite part, with the question:
How has the SSF benetted you the most?
By introducing me to an A unique opportunity was From TechCrunch Disrupt, The energy and exuberance
amazing and diverse cohort. taking the supply chain to the speakers in Regional of Silicon Valley is palpable
Whether its tech, startups, course, visiting Boeing and Seminar, to company visits and inspiringwhether
VC or other industries, Costco (Seattle); Google through Career Treks, SSF speaking with the COO of Box
everyone has been excited to and Cisco (Bay Area); and is an amazing opportunity to or just overhearing college
share their own experiences Disneyland, Disney Studios hear from the most inuential students discuss their new
and interests. I am and McKesson (Los Angeles). people in the Valley. It is appoptimism about the
continually humbled by my It was eye-opening and also a unique setting to get power of tech and innovation
classmates achievements incredibly valuable as I immersed in a new cohort, is everywhere. That innovative
and how supportive they are prepare to enter technology meet new people and have spirit is contagious in the
of each other. LOIS WANG operations after graduation. fun. Day trips to Napa, breaks best kind of way. Being in
JOHN WITHERS in Hawaii and oyster shacking San Francisco convinces you
in Tomales Bay just because ... that you, too, are capable
why not? The SSF crew does of creating great things and
it right! motivates you to settle for
ILEANA CHESZES nothing less.
ANNIE JONAS
(( ON THE web ))
Watch 48 Hours of the Semester in San Francisco to gain a day-to-day sense of what its like to
be a student in this exclusive program. Find it at: http://whr.tn/SSF-video.

D O W N L O A D T H E A P P
Introducing the new app for Wharton Magazine.

Download it for free on iTunes and Google Play.
Available on the iPhone
App Store
(( ON THE web ))
Jib, Jab, Jab Your Way
to Startup Success
Greg Spiridellis WG99 knew by his second year at Wharton that
he wanted to build a tech company. Shortly after graduation, he
did so with his brother Evan. Since then, JibJab has evolved into
a multifaceted digital entertainment studio. Watch Spiridellis
explain how hes gotten to where he is, what he sees as the
future of media distribution and why hes in the business of
making things that make people laugh.
View the Wharton Entrepreneurship video at:
http://whr.tn/GreggSpiridellis.

Special Alumni Discount
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Alumni Essay
BY ANTHONY W. ORLANDO
SAVING CAPITALISM FROM

A PAINFUL DEMISE
ECONOMIC INEQUALITY IS THE GREAT
BUSINESS CHALLENGE OF OUR TIME.
A
merican business leaders
rallied around Franklin Delano
Roosevelt in 1932 during his
candidacy for the presidency,
after which he immediately
embarked on the most
progressive legislative agenda in U.S. history
to tackle the Great Depression. From todays
vantage point, it may seem surprising that titans
of industry, executives from General Electric to
Standard Oil to IBM, not only contributed to
Roosevelts campaign but helped author many of
his famous New Deal reforms. To the men who
ran these companies, it was a simple matter of
duciary responsibilityto current shareholders
and to future onesthat they should ensure a
more equitable distribution of prosperity, lest
their own wealth be dashed to bits on the jagged
rocks of a shrinking economy.
Today, we face a similar predicament. The great
MIKE AUSTIN
challenge of business in our time is reversing the
destabilizing threat of inequality. While at rst
this may seem anathema to our prot-maximizing
mission, distribution of income lies at the very heart of
sustainable capitalism. businesses similarly found a strong majority of them in
For this reason, todays titans of industry have stepped favor of raising the minimum wage.
forward to protest the growing distance between them and the These business leaders sense an essential truth about
rest of the country. Warren Buffett, Lloyd Blankfein, Stanley our capitalism: Workers are consumers. They spend what
Druckenmiller, Bill Grosslegends whose lives and words are they earnor what they borrow. While the latter may work
studied and idolized at the Wharton Schoolhave all gone for awhile, it has limitsand calamitous risks. The only
public with the wise advice that we steer away from those sure way to grow the economy in the long run is to grow
jagged rocks. consumer spendingand that means growing worker
They are not alone in their concern. According to a recent incomes.
analysis by the Center for American Progress, 68 of the In recent decades, workers incomes have not grown
top 100 retailers cite the at or falling wages of the average much, on average. Since the beginning of the Great
American household as a risk to their businessa number Recession, the average household has lost 8 percent of
that has doubled in the past eight years. A recent poll of small its income, after adjusting for ination. All the growth

and then somehas gone to the richest 10
percent of Americans. And most of that
It is time that of coordination failure: taxing the negative
externality and subsidizing the positive. It
growth95 percent of total growth, to be we recognize is time that we recognize inequality for the
precisehas gone to the richest 1 percent. inequality for negative externality that it is, slowing our
And most of that growth has gone to the
richest 0.1 percent. And so on.
the negative productivity growth, roiling our markets with
volatility, gridlocking our political system,
Unsurprisingly, economic growth has externality that and starving our economy of willing and
been slower since the advent of this new it is, slowing able consumers. Inequality is a risk to our
trend. From 1950 to 1980, real GDP grew
3.8 percent per year, versus only 2.7 percent
our productivity businesses, and it ought to be treated as such.
We should therefore see taxes not as
from 1980 to 2010. On the rare occasions growth, roiling penalties but as investments in a better,
when it has approached its previous our markets. more equitable, more sustainable system.
faster rate, it was fueled by unsustainable We should strive to prevent a race to the
borrowing. This is no coincidence. Recent bottom in workers incomes; if we dont, the
work by economists zlem Onaran and Giorgos Galanis has day will come when no one will be left to pay the prots our
shown that most developed countries experience lower growth shareholders demand. Business schools should teach courses
when the share of their income going to wages (as opposed about this issue, and business leaders should address it in their
to prots) declines. In the United States, for example, every boardrooms. It is not merely a political issue. It is very clearly
10 percent decline in the wage share causes the economy to the business of Business.
shrink by 9.2 percent. In fact, that has been the experience of Joseph Kennedy thought so when he went to work for
the global economy as well. President Roosevelt. As one of the nations most notorious
High wages are what economists refer to as a positive stock manipulators, Kennedy might have been the last person
externality. They generate spillover effects that benet the wed expect to join Roosevelts crew, but when Roosevelt
people who dont pay for them. When workers receive high named Kennedy as the rst chairman of the Securities and
wages, they invest more in health and education, increasing Exchange Commission, he saw it as an opportunity to save the
their productivity and reducing the costs we all pay for a sicker, market from itself.
less-informed population. They motivate rms to invest in We of the SEC do not regard ourselves as coroners sitting
advanced technologies to reduce labor costs, making them on the corpse of nancial enterprise, said Kennedy in a radio
more innovative and globally competitive. Workers who receive address to the nation. On the contrary, we think of ourselves
high wages are less likely to go out on strike, vote against free as the means of bringing new life into the body of the security
trade and immigration, protest in the streets, shirk on the job business.
and commit crimes. Thats why, in an analysis of 19 developed As Wharton graduates, let us think of ourselves in the same
nations from 1960 to 2004, economists Robert Vergeer and manner, and act accordingly.
Alfred Kleinknect found that higher wage growth consistently
led to higher productivity growth. Anthony W. Orlando W09 received his bachelors degree from
In other words, low wages may be good for one rm, but Wharton and his masters in economic history from the London
high wages are better for all rms. Yet many businesses School of Economics. He is a lecturer in the College of Business
would like to raise wages, but they fear losing ground to their and Economics at California State University, Los Angeles, and
competitors. a public policy research fellow at the University of Southern
The only solution is collective action. California. His latest book Letter to the One Percent is available
Economists have a collective action for precisely this sort at www.LetterToTheOnePercent.com.

MBA Essay
BY JAMES THORMAN
DEFUSING AN
EXPLODING INBOX
Im pretty sure my inbox just exploded was
the constant refrain echoing throughout
the rst weeks of Q1. During this time an
avalanche of emails about joining clubs, running for leadership
positions, attending important information sessions and
I actually arrived on campus, I came to realize just how many
more resources are available to develop skills I want.
At the same time, everything else sounded too good to pass
up, and I became distracted by opportunities that I wasnt fully
dedicated to. Early on, for example, I attended information
signing up for tripsmore emails than I ever thought possible sessions about Cluster Council. I opened and closed the
inundated every rst-year MBA student. application several times over the course of a week as I debated
While I had arrived on campus with an idea of which clubs what to write. Eventually, I asked myself, Why am I actually
I wanted to join, with every email I read, I added another to running? When I was honest about it, I knew I had been
the list: caught up in the energy of so much going on around me without
Scotch & Whiskey Club? Obviously! considering what truly excited me. I closed the application,
Beer Club? Check. content with deciding not to run.
Chocolate Club? Delicious! This realization was huge. Everyone comes to Wharton for
Coffee Club? Clearly. different reasons, whether to change careers, develop new skills,
Food Club? Sounds awesome! launch a business or expand a network. In each case, Wharton
Squash Club? Have to stay in shape somehow. and Penn more broadlyhas enough resources to ll your time
Dance Studio? Stretch experience!!! with activities dedicated to that interest.
Tech Club? Most denitely. In addition to focusing on management, I have gotten to know
General Management Club? Of course! my classmates, joined social clubs, found stretch experiences and
Yoga & Wellness Club? Yes! explored new industries. Time outside of the classroom has turned
Every rst-year was asking the same questions: Which clubs into a balancing act. I have realized that while I could spend all my
should I join? How many? Should I run for this leadership time trying to do as many leadership- and management-related
position? Should I go on this trek? Or that one? activities as possible, such a narrow approach would prevent me
Each activity sounded awesome, and despite a thousand from having the full Wharton experience.
warnings from students and administrators, I found myself Ive tried to be deliberate with respect to which new clubs and
wanting to, and starting to, sign up for everything. activities Ive gotten involved in, devoting time to those I nd the
In the midst of all this excitement, I lost sight of why I came most fullling. In this vein, I ended up joining the Public Speaking
to Wharton in the rst place: to learn the ins Club, which has turned out to be one of my favorite
and outs of management. Having spent several activities each week. Ive always found public
years in consulting between undergrad and speaking to be a bit stressful, but the club fosters
Wharton, Ive seen how large companies think a supportive environment that makes practicing
through and set strategies. Our projects helped public speaking more fun and engaging that I
clients work through key issues to inuence had anticipated. To get more involved, Ive had to
or put in place these strategic initiatives. spend less time with other clubs.
Those experiences are incredibly educational Choosing where to spend my time like this
in terms of understanding how companies has enabled me to keep from overcommitting
think at that level. To complement it, I want early on, as well as be poised to take advantage
to develop the skills required to execute on of opportunities later in the year without being
a given strategy and build companies from stretched too thin. While I am still guring out
the inside. During the Wharton application this balancing act, I appreciate Whartons only real
process, I became particularly excited about (( ON THE web )) downsidenot being able to try everything.
participating in a Wharton Leadership Venture Watch James and three other James Thorman is a rst-year MBA student
and the Executive Coaching and Feedback rst-year MBAs share their concentrating in Management and Marketing. He
hopes, expectations and goals
Program, as they offer chances to test my grew up in Connecticut, attended Princeton, and
for their two years at Wharton
leadership style in real time and provide an in a video captured during their previously worked at Bain & Co., followed by Kiski
environment to evaluate my capabilities. Once rst month on campus. Alpha Partners, a small nancial services startup.

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UNDER
Welcome to Wharton Magazines rst- Kunal Bahl ENG06 W06
Age: 31
ever attempt to identify some of Co-Founder and CEO of
Snapdeal, a leading Indian
Whartons most exciting young alumni. e-commerce site valued at
Call it the Wharton Forty Under Forty. greater than $3 billion.
Why so successful? Our
Or the #40Under40 (especially if you rock star team is the reason for Snapdeals success.
In addition, it helps to be objective about situations,
mention it on social media). Call it whether they are good or bad, and build a higher
the young alumni to watch list. Or a purpose-driven institution.
Favorite professional moment in the past year?
whos who. Just dont call it a ranking. Meeting Ratan Tata (Chairman, Tata Group) and
Masayoshi Son (Chairman, SoftBank) and their
By no stretch of the imagination does subsequent respective investments in Snapdeal.
the Wharton Magazine staff believe Mona Bijoor C98 G98 WG05
its possible to itemize and prioritize Age: 38
Launched Joor, an online B2B
Wharton alumni, and the magazine wholesale marketplace, now
with 1,000 brands and 90,000
doesnt dare say there are only 40 top wholesalers; named 40 under 40
by Crains New York in 2014.
young alumni. Countless graduates Why so successful? Both of my
deserve the communitys attention parents, both entrepreneurs, who
taught me that customer service
and praise. Who are they all? Here, we builds loyalty and prots.
No. 1 role model? Indra Nooyi:
hope to get that conversation going. My rst introduction to her was at
What follows are 40 individuals a Wharton Leadership Lecture, and
Ive followed her career ever since.
who represent a cross-section of the
Jordan Lloyd Bookey WG07
energy, ambition, accomplishments Age: 36
Chief Mom & Co-Founder at D.C.-based Zoobean
and diversity of the Wharton alumni (featured on ABCs Shark Tank); former head of K-12
networkacross professions, Educational Outreach at Google.
Why so successful? An empowering husband and
interests, degrees, geographies business partner, a grounded upbringing in Iowa and a
commitment to work aligned with my values. And my kids,
and nationalitiesalong with four who give me daily doses
of humility and humor.
groups of alumni who are succeeding Favorite professional
together. moment in the past
year?
Please enjoy ... and be prepared to Being featured on
Shark Tank. Just weeks
nominate your candidate for the next after starting our
40 Under 40. We plan to do this again business, we went
KATE WARREN
on the hit television

next year (see page 25). show and gained an
investment from Mark
Cuban. The experience has changed the trajectory of our
business and lives.

COTOPAXI
AUGUST MILLER
Davis Smith G11 WG11 Age: 36 & Stephan Jacob G11 WG11 Age: 34
W hat started with a chance encounter on the streets

of Peru has evolved into a social enterprise with the
motto, Gear for Good.
Davis Smith G11 WG11 and Stephan Jacob G11 WG11 are
the men behind Cotopaxi, a young direct-to-consumer brand
Sustainability doesnt just mean for us as a giver, but also
to operate in a way that doesnt disrupt local economies, that
isnt a short-term x, says Jacob. We are cautious to choose
partners who have a philosophy of empowering long-term
development.
in Cottonwood Heights, Utah, which sells backpacks, water Smith and Jacob do not claim to be experts in social giving.
bottles, outerwear and other outdoor accessories (not the worlds There are incredible nonprots that are changing the lives
highest active volcano, after which the company is named). of people living in extreme poverty, says Smith. Our goal
Each transaction is linked to a specic humanitarian action. is to extend sustainable nancial support to facilitate their
Water bottles pay for six months of clean water. Each backpack incredible work.
sponsors educational opportunities for a child in a different part It seems to be working. According to Jacob, product return
of the world. rates are less than 1 percent, and repeat purchase probability
Cotopaxi originated on a trip to Peru over a decade ago, when is already as high as 20 percent after the rst order. After
Smith and his wife met and helped feed a child named Edgar. launching early in 2014, Cotopaxi received about 400
The young couple committed to each other that they would nd a unsolicited job applications in just a few weeks.
way to sustainably help kids like Edgar. After 10 years working as Cotopaxi has also found success with a unique marketing
an entrepreneur (PoolTables.com, Baby.com.br and Dinda.com. strategy: huge 24-hour adventure races called Questivals. For
br), Smith decided it was time to fulll that commitment. He ran the inaugural event in April 2014, nearly 5,000 people in teams
into Jacob, who had just exited his own e-commerce business, of ve donned Cotopaxi backpacks while completing a list of
Kembrel.com, at a Lauder Institute reunion. They realized they 200 challenges, ranging from athletic activities like mountain
had to work together on this project, and Cotopaxi was born. biking to quirky options like taking a sele with a llama. The
The business social component is built on personal Questival generated 30,000 posts on social media during the
relationships with charities. Cotopaxi works primarily with 24-hour window, and Cotopaxi gave away three humanitarian
smaller, international organizations that have low overhead and trips to winning teams.
focus on education and health care. This assures consumers Smith and Jacob plan to scale up their Questivals with 30
that their purchases are yielding direct funding to the people events across the country in the next year. They are building
who need it. And they are able to assess and measure the social brand awareness, creating new products with the consumer
impact for every transaction they make. feedback theyve received and forging new philanthropic
While many social enterprises operate on the buy one, give partnerships.
one concept, Smith and Jacob have tweaked the model to better We are business people who believe that businesses can
achieve sustainable economic development in the communities be a force for good, and were going to do the very best we
they work with. Each customer also receives a follow-up from can, says Smith. We are all so fortunate, and we have a
Cotopaxi on the cause he or she supported, which builds good responsibility as business leaders to give back and make the
will and repeat customers. world a better place. Paul Richards C10
#40Under40
Nominate the next Wharton 40 Under 40 Social media: #40Under40 Email: magazine@wharton.upenn.edu
model? Jeff Dunn, CEO of HIT Entertainment

when Desai was COO: He can think with both
the left brain and right brain and is a terric
leader of people.
Saikat Chaudhuri ENG97 W97 Where do you see yourself at 50?

Age: 39 Starting something new again, perhaps
Executive Director of Whartons Mack Institute inspired by my childrens generation.
for Innovation Management; Adjunct Associate No. 1 role model? The working mother.
Professor in Whartons Management
department; corporate consultant and Walter Czarnecki WG10 G10
government adviser. Age: 36
Why so successful? The opportunities and Promoted in March 2014 to President and
support provided by my family, friends and COO of OmniMetrix, a machine-to-machine
Kanika Dewan W98
teachers, which have helped me identify my Age: 38
(M2M) remote monitoring and control
unique talents to solve problems and pursue President of Bahrain-based natural resources
company in Atlanta.
larger goals in life. conglomerate Bramco Group; Chairperson
Why so successful? Generous mentors,
No. 1 role model? I dont have one, as and Founder of Ka Design Atelier, a design and
hard work and luck.
I draw inspiration from the individual traits R&D company for mixed-media nishes and
of many people, whether celebrities or from sustainable design.
everyday life. For instance, Steve Jobs, Bill Favorite professional moment in the
Gates, Brad Gilbert, Swami Vivekananda, my past year? When my zero tolerance to
father and my grandfather. corruption in India nally paid off and I earned
a reputation for whistle-blowing against bribery,
Jing Chen ENG07 W07 within my industry, on a national level.
Age: 28 No. 1 role model? My choice of role models
Started and founded media rm SFG Media is a dynamic process. My belief that each
Group in May 2014, protable and currently individual is born with a unique purpose means
tallying 40 million monthly active users. that within any particular day I can be guided by
Why so successful? Perseverance, ambition. a number of role models; some who have made
No. 1 role model? I dont have any one a difference in the past ... others who are yet to
person. I think you can learn something new impact the future, as well as those who leave
Favorite professional moment in the
from everyoneno matter where they come simple impressions in the present moment.
past year? The rst companywide meeting
from in life. after becoming OmniMetrixs leader,
when the founder publicly declared his full
condence and support for Czarnecki.
Sangeeta
Desai WG04
Age: 39
London-based
COO and CFO of
FremantleMedia,
one of the largest
producers of
television brands
in the world.
Why so
Liuwen Duan WG08
Daglar Cizmeci C97 W97 Age: 33
successful?
Age: 37 CEO and Co-Founder of Halation Photonics Co.
Taking calculated
CEO at HNA Global Advisers in London; Partner Ltd., a Beijing-based designer and manufacturer
risks and backing
at Yanshan Capital in Beijing; Board Member of next-generation liquid crystal technologies.
good people.
of aviation businesses such as MyCargo and Why so successful? I gained a lot from
No. 1 role
MyTechnic.
#40Under40
the high-intensity curriculum when I was in No. 1 role model? My grandmother. She No. 1 role model? My father. He is
Wharton: professional courses, teamwork and used to say that one should have sight in the incredibly hard-working, faithful, leads
entrepreneurial skills. I cannot imagine what I sky and feet on the ground. Not only was she by example, open-minded and always
would be if I didnt attend the Wharton School. brilliant, passionate, sensible to people and committed.
No. 1 role model? His father. circumstances, but also she cared about her
community and country. Artis Henderson C02 W02
Age: 34
Kate Gallego WG12 Award-winning journalist, essayist and author
Age: 33 of the memoir Unremarried Widow.
Councilwoman representing District 8 in Why so successful? A willingness to take
Phoenix. the unusual
Favorite professional moment in route, to be
the past year? Working with a Vietnam brave and never
veteran who lost both legs in a mine blast, I stopping to
was able to make our light rail system more consider, Maybe
wheelchair-accessible. I shouldnt be
No. 1 role model? Sally Jewell has had an doing this.
incredible career that blends business, as Favorite
CEO of REI, and now politics, as secretary of professional
the interior. Plus, she has used both skill sets moment in the
to advance sustainability. past year?
Amanda Engstrom Eversole The rst time
WG13 someone handed
Age: 37 me my book and
Chief of Staff, U.S. Chamber of Commerce; asked me to sign
Senior Vice President, U.S. Chamber Center it. I thought, Is this really happening?
for Capital Markets Competitiveness.
Why so successful? Taking risks, Caroline Issa W99
walking through open doors, seeking the Age: 37
advice of mentors and working hard. A little Publisher of fashion periodical Tank Magazine;
stubbornness and a lot of luck help too. Londons entrepreneurial fashionista
No. 1 role model? My paternal launching her own line with Nordstrom.
grandmother came to this country alone in Favorite professional moment in
1921. She dreamt of a better life and had the past year? Announcing my design
the courage and tenacity to achieve it. collaboration with Nordstrom for 2015, which
happened to also be my rst-ever client as a
Rodrigo Fernandez WG04 Eric Heil management consultant when I started my
Age: 38 ENG05 WG12 career 15 years ago.
CFO & CMO for Mexicos Sigma Alimentos, Age: 32
the $6.4 billion food company subsidiary of Co-Founder of
Alfa; Board Member of the petrochemical rm Philadelphia-
Alpek and chemical rm Viakem. based RightCare
Why so successful? I was lucky to be Solutions, the
born in a peaceful country, raised in a united Wharton Business
family with Plan Competition
parents who winner that helps
believed in me hospitals and health
and gave me the systems reduce
best education readmissions and
they could, to be optimize their post-
healthy and to acute care; listed on
have a wife who Business Journals 40 under 40.
supports me in Favorite professional moment in
everything I do. the past year? The everyday stories of
For my part, I just improving patient outcomes. Like a 56-year-
give it all, every old woman in need that the RightCare
day, to get the software identied, matched her to the right
most out of community-based service program and
that luck. avoided a readmission.

N
ick Shah, Chris Amos and
Jesse Pujji met in the context of
Leadership in the Business World
(LBW), a summer program for rising
high school seniors interested in Wharton and
entrepreneurship. That teenage bond survived
through four years in Whartons undergraduate
program. Not just survived, but strengthened by a
dream of where they would go together.
We had built up this vision for a partnership, AMPUSH
and it was kind of our dream all along, Amos says.
As dreams do, theirs got deferred for a few years.
Amos worked in nance, rst at Morgan Stanley,
Chris Amos W06 Age: 30
then with the Carlyle Group. Shah had been in New
York and India with Morgan Stanley through 2009,
Jesse Pujji C06 W06 Age: 30
with plans to join a hedge fund in New York. Pujji
went into consulting with McKinsey, then nance Aniket Nick Shah W06 Age: 30
with Goldman Sachs.
Then came the nancial crisis. It was a natural time anyway Now, Ampush has more than 100 employees at its San
for people their agemid-20sto go for an MBA, and the Great Francisco and New York offices and $200 million on ad spend on
Recession certainly sped up the herd. Meanwhile, the hedge fund its platform in the past yeara number thats grown every year
at which Shah had a job folded. In other words, for all of them, the since the rms inception. The three co-founders bootstrapped
crisis provided a moment to reconsider next steps. Shah recalls Ampush with savings and have never taken an investors dollar
regularly calling his friends during this evaluative phase. What did he (though Pujji notes that they receive calls every week about
want to do next? What did they want to do? What about that dream, investment and reconsider it every quarter). They aim to scale
this itch, that all three of them still had? to keep up with a mobile ad market thats soared to $35 billion in
The answer to that question was Ampushbut not before a full 2014, from $18 billion in 2013, according to a recent VentureBeat
year during which the trio explored what pursuit would suit their article praising Ampush.
strengths and backgrounds. They came to realize that they could Theyve also expanded to serve ads on Twitter and have
apply their rigorous quant skills to an exploding trend: mobile interest in other platforms, such as Google, Pinterest and Yahoo.
advertising. Advertising was (and still is) going digital, toward How have they managed to catch one of the biggest
real-time and programmatic ads served and embedded on social technological waves since the advent of the Internet itself? As
platforms, and driven by the ood of social, customer and other data. many entrepreneurs do, Shah cites perseverance. Amos admits to
The business is going from mad men to math men, as Amos puts it. the co-founders being blind and naive coming in and says they
That just seemed fascinating to us and was clearly an industry in were wise enough to talk with a lot of people, ask questions and
transition, Shah says. It hit all our core strengths. hire super smart problem-solving people.
Founded in October 2009, Ampush focuses on delivering Along those same lines, Pujji adds being at the right place,
marketing ROI on mobile social platforms by allowing advertisers to right time; the size of the opportunity was massive enough to
target individual consumers and populations and place ads right in absorb their early mistakes.
their content streams. They targeted the biggest social and mobile Yet to nish on nothing but positivity, Ampushs success gets
platform of them all rst: Facebook. Crucial was Facebook adding back to peoplenamely, the three co-founders and a bond of
Ampush to the Facebook Strategic Preferred Marketing Developer trust formed as high schoolers romping around Penns campus
(sPMD) list. In fact, the trio geared nearly all of their companys one summer. Theyve since given each other the freedom to make
efforts for six months just to developing this elite relationship mistakes, while always assuming positive intent, Pujji says.
with Facebook. Matthew Brodsky
Ready to Nominate Your Own Wharton #40Under40?

No doubt more than 40 young Using the hashtag #40under40 in a tweet.
alumni exist who are worthy of Sending an email to magazine@wharton.upenn.edu.
recognition. Who do you think Looking out for posts from Wharton on Facebook, LinkedIn & Instagram
deserves to be included in the and replying.
next Wharton 40 Under 40? Let
The plan is to compile a list for the magazine for next year ... and well beyond.
us know by:
FUNDERSCLUB
Alex Mittal ENG07 W07 Age: 30 & Boris Silver W10 Age: 26
B
oris Silver and Alex Mittal believe have much to prove with FundersClub. Ask them why they are
entrepreneurship and venture capital can be so successful, and they practically deny any such thing. Mittal
forces for good in the world, capable of supporting immediately mentions how he keeps his rst startup failure
innovators and their drives to meet and solve (perhaps his only) in mind always.
humanitys problems and needs. That is why Silver and Another driver of their success is that the pair are enjoying the
Mittal are disrupting private equity. Its in need of a 21st ride with each otherhaving met way back on Penns campus
century refreshthrough digitization and democratization. outside Huntsman Hall in line at a Hemos food truck and
Its also why in 2012 they founded FundersClub, the worlds reconnecting when both found themselves in San Francisco.
rst online VC rm, seeking to support the worlds top Speaking about himself and Silver, Mittal says, Its almost scary
startups. They didnt stop there, releasing a new service sometimes how we anticipate situations and resolve them and
called Partnerships that allows accredited investors access to work as a team.
opportunities from experienced startup investors. The FundersClub team has grown into 11 full-time members, and
FundersClubs rst revolution involved giving a platform to the collaboration among them makes up some of Silvers favorite
accredited investors to invest as little as $3,000 in one of the moments at FundersClubcreating and launching new products
startups in its portfolio. With over 11,000 accredited investors and features, becoming more cohesive and effective as they do.
and over $25 million invested on the platform to date, $3,000 I nd that process in and of itself both challenging and
checks have added up to signicant seed-stage funding for rewarding, he says.
the more than 100 portfolio startups. These companies not Matthew Brodsky
only get the benet of this crowdfunding; they can tap into
the expertise and connections of FundersClub investors, as
they would through traditional VC. And like traditional VC,
investors and founders expect and hope for exits, like the
four FundersClub companies that were acquired recently.
Successful FundersClub companies have subsequently
garnered the support of leading traditional VCs like Sequoia
Capital, Andreessen Horowitz and First Round Capital.
With Partnerships, Silver and Mittal license out the digital
platform that powers FundersClub to experienced investors,
who can then use it to create their own online VC fund while
sharing a percentage back to FundersClub. Partnerships was
launched in the second-half 2014 with four investor partners
initially lined up.
The service continues where the FundersClub co-founders
startedaddressing pain points they both experienced as
entrepreneurs and investors. Silver built a leading network of
Facebook-based fantasy sports games, which eventually was
sold to Yahoo. He started exploring angel investing but grew
frustrated with the challenge of nding solid investments and
the friction involved. Mittal is a repeat entrepreneur (see his
previous startups, Innova Dynamics and Crederity) who grew
tired of the time and energy suck that is fund-seeking. In
essence, they are both inveterate problem-solvers.
Mittal realized as an undergrad that entrepreneurship
would allow him to look at the world, discover problems that
people are experiencing and solve them. That seemed like
such a pure, efficient and helpful pursuit for the world, and it
really drew me in.
Beyond nding solutions, Silver is hooked on continuous
learning, growth and exploration.
I view things as a continuous progression. Its about
learning new things, and exploring what I havent explored
yet, he says.
In talking with them, one gets the sense that they still
#40Under40
No. 1 role model? From a career

perspective, I wouldnt be able to choose
just one. I have learned from and admired
so many impressive people in the fashion
industry whom I have been lucky to also
call friends, from Jenna Lyons to Christian
Lacroix and Jason Wu to my business partner
Masoud Golsorkhi, among others.
Joyce Meng C08 W08

Age: 28
Sasibai Kimis W00 Rhodes Scholar; Forbes 30 Under 30;
Age: 36
Co-Founder and CEO of Givology; Co-Founding
Founder of Earth Heir, a luxury craftmanship
Member and Senior Research Analyst at
brand from Malaysia with an ecological and
Vernier Capital.
social mission.
Why so successful? Hard work with
Why so successful? Trusting God, and
purpose, not giving up and not compromising
pursuing ones passions with an unwavering
the original vision for what is comfortable
desire to leave a positive impact.
or easily reachable. Even if you dont know
Sumeet Jain WG05 No. 1 role model? My father. Born to
something today, you can learn it. So many
Age: 38 illiterate immigrants, he raised up our family
studies have empirically shown that self-
Director of Investment at Intel Capital. and educated many. His perseverance and
discipline trumps intelligence, IQ and talent
No. 1 role model? Warren Buffett: He zags diligence inspires me.
in predicting success.
when others zig. He sees through hype. And Favorite professional moment in the
despite his success is incredibly humble. past year? Watching Givology continue
Where do you see yourself at 50? to grow while maintaining our 100 percent
Continuing to do what I love: mixing technology volunteer-driven model to crowdsource small
and nance and working with the best and dollars and hours for impact. Im constantly
brightest technology entrepreneurs. inspired by our Givologists around the
worldwith 200 volunteers, 19 chapters, 50
Eric Kacou WG04 grassroots partners in 28 different countries,
Age: 38 and 13,800 donors, its so rewarding to hear
Co-Founder of ESPartners entrepreneurs how each community is doing its part to
investing in entrepreneurs in Africa and increase access to quality education.
the Caribbean; led the Rwanda National
Innovation and Competitiveness Program; Aditya Mittal W96
former Mason Fellow at Harvards Kennedy Age: 39
School.
Why so successful? Fostering
MATT VOGEL
entrepreneurship is a vocation and passion.

Fortunately, my
team at ESPartners
shares the same Steve Markowitz W10
passion and vision. Age: 26
Favorite The independent musician known as Hoodie
professional Allen.
moment in the Favorite professional moment in the
past year? past year? Having my album debut at No. 8
Launching the on the Billboard 200 albums chart.
Archimedes & Why so successful? Relentless dedication
Entrepreneur A&E and passion to doing the thing I love most in
platform for young the world and serving the people who support
DAN SMITH
entrepreneurs in my career.
Cote dIvoire.

#40Under40
CFO and Global Management Board Member of Why so successful? Mostly that Im
ArcelorMittal, the worlds largest steel rm. not shy about asking for advice, and Ive
Why so successful? I believe success been surrounded by really smart people at
starts with maximizing the opportunity sets that Wharton, at work and at home.
are given to you.; and his wife, Megha W97: Favorite professional moment in the
Not only in that she is a wonderful sounding past year? I had a meeting with President
board and support, but also because my family Obama and top YouTube channels where we
is extremely important to me. advised the White House on utilizing YouTube
No. 1 role model? His father: Not just for social impact. That was surreal.
because of what he has achieved in business,
but because he has achieved so much whilst Rishi Renjen W03
still being a great human being, father and Age: 34
role model. I consider myself very fortunate when I got to meet all of our Founding Class Managing Director at hedge fund Maverick
to have two very valuable, strong and fullling students. To have 20 years of work become a Capital; Adjunct Assistant Professor of
relationships with him, one as his son and the reality in an instant was simply magical. nance and economics at Columbia Business
other working together in the business. School.
Kathleen Kimiko Phillips WG07 Why so
Age: 37 successful?
President of Berens Capital Management, a Simply, I love what
New York-based fund of hedge funds. I do and the people
Favorite professional moment in I have worked with.
the past year? Traveling to Malawi to Hard work feels
visit portfolio companies while having the effortless when
opportunity to meet the beneciaries of an you are passionate
educational charity that Im involved with, about your career.
Advancing Girls Education in Africa. No. 1 role
No. 1 role model? Parents: for prioritizing model? My sister
my education, instilling a strong value above all: a great
system and balancing their successful doctor, friend,
careers with family. mentor, professor,
Yuta Namiki WG06 talent, athlete and
Age: 37 all-around person. To be great, we need to
Launched consulting rm Field Management benchmark ourselves to greatness.
Inc. in Japan, which services top Japanese
companies, including Sony, JAL and Rakuten. Audra Renyi C04 W04
Favorite professional moment in Age: 32
the past year? Becoming co-owner of Executive Director of World Wide Hearing,
a Japanese Professional Soccer League a social enterprise based in Montreal that
club: They got promoted to division 1 this provides access to affordable hearing aids to
season! children in developing countries.
No. 1 role model? Dr. Dre since high Why so successful? I am operations
school. Artist, producer and recently a very oriented while still focusing on the bigger
successful entrepreneur. picture; I never lose sight of strategy.
Ben Nelson W97 Ben Relles WG04 past year? A major Canadian investor
Age: 39 Age: 39 made hearing
Founder of San Franciscos Minerva Project, Head of Comedy lossan invisible
which is reinventing the liberal arts education at YouTube disability that
and matriculated its rst students in fall Originals, where affects 700 million
2014. he is responsible peoplea priority
Why so successful? My parents brought for new content sector thanks to
me up to analyze the world around me from development with my efforts. I knew
rst principles and not take conventional YouTubes top I had started to
wisdom as a given. Outside of sheer luck (of comedy talent; change the world.
which there was plenty), nearly every positive creator of the
event in my career can be traced to that comedy network
upbringing. Barely Political,
Favorite professional moment in the viewed over 2.5
past year? The rst day of orientation billion times.

T he Warby Parker story deserves to be
told again, no matter how many times
you may have heard it. How four MBA
students launched an e-commerce eyeglass brand
from their Philly apartments. The goals: to disrupt
the anachronistic eyewear industry, to develop
a vertically integrated brand that consumers
love and to do good in a world where millions
go without. In four short years, its blown up in
the best gurative sense. Whats intended here,
though, is less about what Warby Parker has done
and more about what theyre doingand how
they will continue to change how business gets
done in general.
Two co-founders remain on for day-to-day
leadership and operations; two others remain
involved on the board but otherwise have moved
to other pursuits. One, Jeff Raider, tried his hand
at private equity before dashing in 2013 into
another overnight startup success, mens care
WARBY PARKER
brand Harrys, which has gone so far as to acquire a $100
million German razor manufacturer. Andy Hunt, after two and Neil Blumenthal WG10 Age: 34
a half years with Warby Parker, entered into venture capital
as partner at Highland Capital (and whose rst big portfolio David Gilboa WG10 GEN10 Age: 34
company investment was Harrys; everybody wanted to
invest in Jeff, Hunts says). Andrew Hunt WG10 Age: 33
Do not feel sorry for the two left behind. Neil Blumenthal
and Dave Gilboa have gone on to become co-CEOs,
overseeing Warby Parkers growth into a 400-employee
Jeff Raider WG10 Age: 34
company with 10 brick-and-mortar stores, not to mention At the end of the day, we launched Warby Parker to have an
its own custom-built e-commerce platform. Theyve raised impact on the way that business is donebusiness to do good,
$115 million from top-tier investors. And by June 2014, they Blumenthal says.
had distributed more than 1 million eyeglasses to people in That motivates the founders still, perhaps more so. As Gilboa
developing countriesthe proudest moment for Blumenthal points out, opportunities have become orders of magnitude
and Gilboa of recent memory. (Like many for-purpose bigger.
companies, Warby Parker gives away every time it takes in; a Quirkiness has never interfered with the serious decisions of
pair of glasses for every pair it sells, in this case.) running a companysuch as how to split equity and apportion
And Blumenthal and Gilboa have expanded Warby Parker salaries among co-founders. The four were committed from the
beyond eyeglassesmost notably into publishing and music start to fun and friendship, which continues to this day as a spirit
with the release of Warby Parker Presents Song Reader, an of trust, a healthy dynamic, as Raider calls it, of open, honest
album of various artists performing songs written by alt- feedback with each other.
rocker Beck. I feel like we are just as close as ever, Raider says. Theres
One of our core values as a company is to inject quirkiness not three people I would rather hang out with than those guys.
into everything we do, says Gilboa, who explains the Beck We all have strengths and weaknesses, but weve operated very
partnership as evolving from a previous relationship they had much as a team, Hunt says. Not just a team. A friendship plus a
with McSweeneys, the book publisher that released the Song business partnership, and that will probably carry through the rest
Reader sheet music. of our lives.
Quirkiness does not preclude hard work; in fact, its what In fact, during the writing of this piece, all four co-founders
makes the hard work more effective. were planning to meet for a Friday night of Halloween fun in New
We deliberately are building a lifestyle brand because we York, dressing up like idiots, Blumenthal promised.
think lifestyle brands and brands in general garner more Amazingly, its how they drew it up back in those Philly days in
inuence than traditional retailers, Blumenthal says. 2009 and 2010. Even then, as Hunt recalls, they knew Gilboa and
And quirkiness does not in any way take away from their Blumenthal would become co-CEOs, that Hunt and Raider would
primary motivation: having an impact, not just for the remain as board directors. Back at Wharton, the only thing they
millions of people around the world who need but dont have hadnt planned on perhaps was their 2014 Halloween costumes.
prescription eyeglasses, but upon the business of business. Matthew Brodsky
#40Under40
David Safra W06

Age: 30
Director of Brazil-based international nancial
services rm The Safra Group.
Why so successful? A conservative long-
term approach to business. My grandfather
said: Build a bank as you would a boat with the
strength to sail safely through any storm.
No. 1 role model? My father Joseph Safra,
from whom I have learned the importance of
our business philosophy, hard work, respect for
others and strong commitment to community.
Kristian Rokke WG14 Jake Schwartz WG08
Age: 32
Age: 36
Chairman of the Aker Philadelphia Shipyard
Co-Founder and CEO of General Assembly (GA),
the tech education company based in New York
past year? Delivering a ship to our cus-
with 13 campuses worldwide.
tomer ExxonMobil. Tremendous amounts of
Why so successful? Persistence and
human energy were poured into that ship,
resilience. There have been so many times
and our pride was unleashed on delivery.
where taking an entrepreneurial path felt like
No. 1 role model? I dont have one, I have
the difficult, unsafe and risky way to go. It was
dozens. Talented people are abundant. I
my persistence that allowed me to overcome
try to recognize their specic strengths and
the uncertainty. I literally couldnt get it out of
emulate them in the right situation.
my head.
No. 1 role model? Richard Barth, CEO
of KIPP and GA board member: He is an
incredible individual, manager and leader. I
Jon Samuels WG08 hope to someday be even close to as good as
Age: 35 he is.
President of Triangle Petroleum, a vertically
integrated energy operator in North Dakota Scott Shleifer W99
and Montana. Age: 37
Favorite professional moment in the Founder and
past year? Watching certain individuals Managing Director
ourish and grow at Triangle has been a real of Tiger Global
highlight. Sometimes people come in a bit Managements
green, a few years go by, and all the sudden private equity
they do or say something that blows you unit.
away. Favorite
Slava Rubin W00 professional
Age: 36
moment in the
Co-Founder of online crowdfunding platform
past year?
Indiegogo in 2008; Founder in 2005 of
Identifying,
Music Against Myeloma, a charity created in
researching and
memory of his father.
investing in a
Favorite professional moment of past
rapidly growing private company in China
year? It was amazing and humbling to
levered to the growth of mobile e-commerce.
hear President Obama recognize Indiegogos
We think it could be a 10 bagger.
impact at the White House Maker Faire this
No. 1 role model? Former hedge fund
past summer. The president said, From
manager Julian Robertson: His integrity,
Indiegogo and Etsy to Disney and Intel, com-
investing acumen, leadership and teambuild-
panies have plans to unleash a new wave of
Where do you see yourself at 50? ing skills, and philanthropic work are world
innovation here in America.
Ideally, semi-retired with a family and class.
No. 1 role model? His mom: She is the
helping young, competitive entrepreneurs
ultimate entrepreneur, emigrating from
start and build successful companies. It gets
Russia to America and working hard to raise
in your blood.
our family. She also makes a mean matzo
ball soup.

Nat Turner W08
Age: 29
Co-Founder & CEO of Flatiron Health, a data
and oncology startup allowing doctors to
learn from aggregated patient data to better
care for cancer patients; Co-Founder & CEO
of Invite Media.
Why so successful? Meeting the
right people early on, including future
co-founders, advisers and investors.
Favorite professional moment in

the past year? Our rst unsolicited
Alicia Syrett W99 recommendation! What started out as a
Age: 37
small conversation by four individuals at
Founder of angel fund Pantegrion Capital
a bar quickly turned into a fully functional
Where do you see yourself at 50?
business with four partners who are all
Running a seed/early-stage fund, writing
dedicated to making this a multinational
and speaking about entrepreneurialism,
business.
serving on boards, mentoring startups,
No. 1 role model? Sean Combs: As one
constantly learning, staying healthy, traveling,
of the greatest marketers of our generation,
working hard and having fun!
it was one of the most amazing business
Favorite professional moment in the developing experiences to learn from him
past year? Appearing as a panelist on
past year? Completing an acquisition of and be able to speak with him daily about
CNBCs Cash Crowd. It was so much fun to
a company that will help us improve cancer entrepreneurship, marketing and success
meet the other panelists and invest in an
care faster. metrics.
entrepreneur on live TV.
Ivanka Trump W04 Victor Yip WG05

Age: 39
Age: 33
Los Angeles-based VP and Head of Asia,
EVP, Development & Acquisitions, The Trump
International Digital Home Entertainment,
Organization; Founder, Ivanka Trump (her
20th Century Fox; built and grown digital
apparel and accessories collection); Founder
distribution businesses for some of the most
of the #WomenWhoWork Initiative, to inspire
respected entertainment brands with a focus
a conversation about how women dene work
on international markets.
and success.
Why so successful? Having been on
international assignments since Wharton,
past year? There are two: acquiring the
Ive found that my tenacity kept me focused
iconic Old Post Office Building on Pennsylvania
and allowed me to extract valuable cultural
Avenue in Washington, D.C., and launching
and professional lessons through difficult
IvankaTrump.
comthe ultimate
Thomas A. von Reichbauer circumstances.
W04 WG05 No. 1 role model? His wife, Gloria: from
destination for
Age: 33 whom Ive learned a ton about motivating
women who work.
CFO at Nest; former Director of Finance at people, how I way overanalyze everything and
No. 1 role
Tesla. that a quinoa salad is actually not a salad.
model? Her
Favorite professional moment of
father: He taught
past year? Leading and closing Nests
me early on the
acquisition by Googlea CFOs dream come
importance of
true to have completed an IPO and a major
passion. If you are
sale.
deeply passionate
No. 1 role model? Im inspired by anyone
about your
who is a master at their craft.
work and work
incredibly hard,
you will ultimately
Jason Wiley W03
Age: 34
succeed.
Co-Founder of marketing and branding rm
Bridge Agency; former VP of Marketing at
Bad Boy.

Wharton gave me confidence
and flexibility to lead in and
embrace dynamic, complex
environments.
Chi Nguyen, WG09

Vice President, Marketing
McKesson Corporation
Shape the next

generation of
Wharton Alumni.
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the program today.
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1960s
OKANE
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W60 CLASS CORRESPONDENT in print and online.
Harry S. Yates
58 Champions Bend Circle
Houston, TX 77069
my handicap by 5 strokes, with still
Tel: 1-800-755-5962
room for improvement.
Fax: 1-888-781-4370
My rm, Friedman Suvalle &
harry.yates@edwardjones.com
Salomon PC (Newton, MA) was
merged into Blum Shapiro (Hartford,
W61 CLASS CORRESPONDENT CT) at the end of 2013 as well, and I
Walter L. Pepperman II
negotiated a part-time contract to con-
tmfbb@vermontel.net
tinue working with a selected group of
my clients. The best part was I got to
W63 CLASS CORRESPONDENT pick families that I have worked with
Judy Cederbaum Kobell
for many years.
jayeko@msn.com
Coincidentally, but not planned,
my daughter Robyn and her husband
W66 CLASS CORRESPONDENT
Undergrads Bruce Hoffman
Kevin Beliveau moved to Charlotte,
N.C. This allows us to see them often
57penn@gmail.com ilevysons@aol.com
1950s
(usually monthly). Since their family
Winter address: (From December to April) includes two of our four grandchildren
707 Helen Street W68 CLASS CORRESPONDENT (Sydney, a 7-year-old girl going on 20
Mt. Dora, FL 32757 John A. Cantrill
and Cooper, age 3), we really enjoy the
W52 CLASS CORRESPONDENT 352-383-8520 (phone and fax) jcantrill@cantrillclark.com
visits, either there or here.
Lawrence W. Althouse
4412 Shenandoah Avenue Summer address: (From May to W69 CLASS CORRESPONDENT
Dallas, TX 75205 Robert H. Louis
1970s
November)
althouses4412@sbcglobal.net Country Ridge Estates RLouis@saul.com
138 Woodbridge Drive Joseph H. Cooper W69 L72, has been
W55 CLASS CORRESPONDENT Hendersonville, NC 28739 publishing literature and lm com-
Felix A. Santoni 828-697-3444 (phone and fax) mentaries with The Huffington Post.
Steven D. Stern, CFA
Box 34125 His other review and opinion columns
Sterninves@aol.com
Fort Buchanan, PR 00934-0125 W59 CLASS CORRESPONDENT appear at The Fiscal Times. His Pauses
Vince Kolber announced that he is
FelixASantoni@aol.com Bart A. Barre, Esq. and Moments stories continue to be
running for Illinois 5th district of
bartbarre@verizon.net published at PsychologyToday.com as
Congress. He is the founder and princi-
W56 CLASS CORRESPONDENT rumblings from the lane next to the
pal of RESIDCO. Vince also serves on
Jim Orlow off ramp.
the board of Little Sisters of the Poor,
120 Sibley Avenue CLASS OF 53, 54, 58, 65, 70 & 71 Alan Suvalle writes: I retired at
donates and helps raise money for
Apartment 307 CALLING ALL VOLUNTEERS! the end of 2013, and my wife Karen
the Sacred Heart Schools and the Big
Ardmore, PA 19003-2312 Are you interested in becoming your and I moved from Westwood, Mass.,
Shoulders Foundation, and chaired the
Class Correspondent? Contact: to Sunset Beach, N.C. We reside at Sea
board of directors at St. Genevieve.
W57 CLASS CORRESPONDENT classnotes@wharton.upenn.edu Trail, a golf community with three golf
Eric W. Johnson courses. I now play 18 holes three to
four times weekly. In addition, Karen
Laurence H. Schecker, Esq.
took up the game, so I play two to
(( ON THE web )) three nine-hole rounds with her most
Lschecker@aol.com
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MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 W INTER 2015 | W H A RTON M AGAZINE | 33
Class Notes W1970s
archives the testimonies of men and

W79 women who survived the Holocaust
Institute of the Huntsman School of
Andrew B. Schulz writes: After 51 Business in June.
and more recent genocides, including Suzanne Biegel has been living
trips thereinitiated shortly after
those in Bosnia and Somalia. This year mostly in London for the past ve
our graduationI am thrilled to let
marks its 20th anniversary. Though years, and founded a social impact
my fellow Alumni know that I have
the foundation is based in Los Angeles, angel investing network in the UK
purchased a beautiful one-bedroom
Perilstein works from the Center City called Clearly Social Angels. She is also
beach-front condo on Grace Bay (#1
law offices of Cozen OConnor, close focused on impact investing with a
beach destination in the world) on the
to her Penn Valley homeand shes women/girls lens.
island of Providenciales in the Turks
right in the thick of the foundations Suzanne joined the Wharton Global
and Caicos Islands, BWI. My dream
latest initiatives. One reaches out to Impact Investing Advisory Board,
come true is located in the Royal West
descendants of those who gave Shoah as well as the Cornerstone Capital
Indies Resort (www.RoyalWestIndies.
their testimonies. Called 2Gs and 3Gs Advisory Council earlier this year
com). Until my retirement, I will be
(second- and third-generation sur- (the brilliant Cornerstone Founder/
renting out my new home and would
vivors), they will carry forward the CEO Erika Karp is a Wharton Alum)
be thrilled if fellow alumni chose to
lessons learned from the Holocaust. To and is pleased to be in the company
vacation in it. For generous alumni dis-
that end, Perilstein is forming the Next of so many great Wharton alums
counts, please contact me at abschulz@
Generation Council. Its a group of 40- working in the arena of social nance
hotmail.com.
to 60-year-old leaders from around the and entrepreneurship. Suzanne is also
world, many of whom are not Jewish, investment director on a new project
BAZERMAN
1980s
she says. funded by DFID, Nike Foundation, and
USAID in East Africa. The SPRING
Did you realize that May 15-18, 2015, W81 CLASS CORRESPONDENT project www.springaccelerator.com
is our 40th Reunion? Again40th
Reunion! Sort of leaves me speech-
W80 CLASS CORRESPONDENT Larry Erlich
wharton@erlich.com
She is also doing some writing for
Bill Tamulonis the popular DailyWorth.com along with
less. My daughter, Sarah, now a other notable Penn/Wharton alums.
billtamu@comcast.net
high school senior applying to col-
Susan Usuda Seglem reports: I have
W82 CLASS CORRESPONDENT Suzanne and her husband, Daniel
leges, introduced me to a song by One Lawrence M. Lipoff Maskit, just celebrated their 15th anni-
been living in Texas for the last 11
Republic that includes the lyrics Old, llipoff@lipoffadvisors.com versary, and she is quite clear that
years. I started out in College Station
but Im not that old. Young, but Im not London is now one of the top three
and then moved to Austin ve years
that bold. We are not old, and I hope
ago to teach at Lake Travis High
W83 CLASS CORRESPONDENT food cities in the world. Suzanne is
we are still bold. I hope to be at the Mary Teplitz reachable through her Twitter handle:
School. I live with my two dogs, a
reunion and hope many others from msteplitz@hotmail.com @zanne2.
hound/doberman mix named Kody
our class will be there, too, to remi- Duke DeLuca writes: I am W83
and a rat terrier named Boo. My oldest
nisce, trade stories and photos, and
son, Matthew, is 30. He left the Marine
SEAS83. Registered as Peter A. W85 CLASS CORRESPONDENT
remember. DeLuca. The update is that I will depart Maria Grazul
Corps last year as a captain and is back
active military service after almost 32 maria.grazul.wh85@wharton.upenn.edu
in school on the GI bill. He married
W76 a beautiful young woman in July of
years on 31 October 2014 retiring in
Max H. Bazerman, Harvard Business
2013. Jillian is a captain in the army,
the rank of Brigadier General. My wife W86 CLASS CORRESPONDENT
School professor, is a scholar in Marianne and I are relocating to Cary, Laurie Kopp Weingarten
and she just returned from a tour in
the eld of applied behavioral psy- NC, as our next adventure begins. lkwmhw@aol.com
Afghanistan. My daughter Kirsten is
chology whose research focuses Alan B. Colberg was appointed Steve Eisenstein has written that after
almost 29 and is working in Houston,
on decision making, negotiation, president of Assurant Inc., as chief 14 years at his last company, he joined
TX. In her spare time she keeps after
and ethics. He received the 2014 executive officer and director of the ACI Clinical in April 2014 as CFO
me to eat healthier (I love all the bad
Distinguished Scholarly Contributions companys board, effective Jan. 1, 2015. and COO. ACI Clinical specializes in
foods!). My youngest son, Cory, is 26
to Management Award from the Since joining Assurant in March 2011, managing and facilitating Endpoint
and is a captain in the Marine Corps.
Academy of Management during its Colberg has served as executive vice Adjudication Committees and Data
He is a helicopter pilot and is sched-
recent Annual Meeting in Philadelphia. president, marketing and business Monitoring Committees for clini-
uled to deploy in October.
Bazerman joined the Harvard Business development. Colberg joined Assurant cal drug trials. Steve is married to his
Marc Blitsteins rm, American
School faculty in 2000 after serving following a 22-year career with Bain college sweetheart, Lisa Longo C85,
Diagnostic Corp, a leading manufac-
as a visiting scholar. He is currently & Company Inc. In 2010, Consulting and they have three children; Seth, who
turer of core diagnostic instruments for
faculty chair of the HBS Executive Magazine recognized Colberg as one is in the culinary program at Atlantic
health care, celebrated its 30th anni-
Education programs Behavioral of the worlds top 25 consultants and Cape Community College; Lucinda, a
versary in 2014. Headquartered in
Economics and Changing the Game, for his excellence in the nancial ser- junior at Lower Merion High School
Hauppauge, NY, they now have offices
which hones participants skills in vices sector. and Level 8 gymnast on the Haverford
in the UK, Japan, Taiwan, and China.
negotiation and competitive decision YMCA team; and Teddy, who at 12,
Jayne Davis Perilstein, execu-
making. fences, practices gymnastics, is a Boy
tive director of development for the CLASS OF 84
USC Shoah Foundation, was recently CALLING ALL VOLUNTEERS! Scout, and shockingly, still has time
selected by Main Line Magazine as one Are you interested in becoming your for video games. Steve and family live
John H. Warren in Bala Cynwyd, PA, and visit campus
of the 24 Main Line Power Women to Class Correspondent? Contact:
jhenry@jhenrywarren.com regularly.
watch. When Steven Spielberg asks classnotes@wharton.upenn.edu
for your help, you say yes. Thats what Carlos Deupi has written that after
W78 CLASS CORRESPONDENT happened to Jayne after she coor- 25 years at big law rms, Kelley Drye,
Lisa Brown-Premo
dinated a Center City event for the
W84 Hogan Lovells, and Squire Sanders, he
3417 Meadow Bluff Drive Linley Hopkins Baker is still working moved in-house this year with former
USC Shoah Foundation that raised
Charlotte, NC 28226-1128 as director and actuary for MetLife. client, The Brilla Group, as general
$3 million in one night. Spielberg
Husband Mark was recently named counsel. The Brilla Group is a Miami-
launched the Shoah Foundation after
executive director of the Shingo based, boutique, private equity rm
lming Schindlers List. It records and
34 | W H A RTON M AGAZINE | W INTER 2015 EMAIL: classnotes@wharton.upenn.edu FAX: +1-215-898-2695

focused on the hospitality space in Coffee, Tobacco & Capitalism in Rural experience of work in various industries Blackstone Group). Since then, after
the United States, Caribbean, and Cuba 1959-1985. She is also the manag- to use in healing businesses entities brief stints back at Credit Suisses
LATAM. On the personal side, Carlos ing director of One Planet Ventures. and human beings. Loving it ... Its one European Special Situations team and
is the father of two, Isabella, 20, who of the more rewarding types of work I as CFO of EMPGI (emerging markets
is studying hospitality, and Felipe, 16, have ever done. education business), joined HSBCs
who has made a number of movies. W89 CLASS CORRESPONDENT Congratulations to Nicole Jacoby and Direct Principal Investments busi-
Carlos has competed in over 40 triath- Keith Wasserstrom Alex Cooper on the bar mitzvah of their ness in 2010 where she was head of
lons and serves as chair of the Miami keith@wasserstromconsulting.com son Gabriel in September. Europe and Middle East. She has since
Finance Forum, an association of Our fellow grad and Renaissance moved to Dubai office of HSBC and is
nance and investment professionals. man, Greg Goldstein writes, In addi- currently head of Corporate Finance,
Marty Lessner reports that he has
recently had a brush with fame, so to
speak. On September 27, he joined the
1990s tion to staying busy on the legal and
management side of the entertainment
business, I am presently producing the
MENA.
Lee Huang is currently SrVP/prin-
cipal of Econsult Solutions Inc., a
regular Phillies radio team of Scott W90 CLASS CORRESPONDENT Brooklyn Jazz Orchestras Fall Concert Philadelphia-based economic consulting
Franzke and Larry Andersen to call, Alan Gallo Series ... www.BrooklynJazzOrchestra. rm. He teaches Quantitative Tools for
play by play, the third inning of the gallo.wh90@wharton.upenn.edu com. Consulting at Fels. He is marred with
Phillies vs. Braves game. Marty writes Joe Giagrande and his wife, Lucila, two kids, Jada (9) and Aaron (7).
that while he had great fun, he will founded a specialty food business in W95 CLASS CORRESPONDENT Grace Tkach (nee Tsuei) and her
keep his day job. Listen. Chicago called Lucilas Homemade Gail Chang Shen husband, Chris, are proud to announce
Keep sending in your news! Thanks! Ales. They handcraft dulce de leche wharton95.classnotes@gmail.com the birth of their rst son, Raymond
lled treats called alfajores (ales) that Hello Class of 95! Thanks to everyone Brock Tkach, this past February.
W87 CLASS CORRESPONDENT Lucila grew up with in Argentina. They who wrote in to me. Keep those updates Grace has been living and working in
Leslie Sherman Crane are incredibly delicious and make coming! Boston for the past nine years, after
lescrane@comcast.net the perfect gift. If any alums are ever Winston Cheng writes: After Enron, receiving her MBA from the University
Brian D. Egger W87 is pleased to in Chicago, come check them out! You I went to Cal Berkeley for my MBA of Michigan. She is currently Human
announce that his rst book, Social can read more about their story at (Class of 2002). Im now married to Resources Manager for a biomedical
Media Strategies for Investing, will LucilasHomemade.com. a wonderful Japanese woman that I strategic communications consulting
be published by Adams Media in met at Golden Gate Park back in 2001. rm. In her spare time, Grace is also
November 2014. The book introduces W92 CLASS CORRESPONDENT We have been in sunny San Diego the head of Hired Hands for Idle Hands
readers to important recent develop- Juan E. Alva since 2004, where I work at Shell Oil Craft Ales, a microbrewery that she
ments in the emerging eld of social jealva@aol.com Company in their western US electricity and Chris started just over three years
nance. Brian explains how online juan@fifthstreetfinance.com and natural gas trading group. ago. They both welcome and encourage
social media and crowdsourcing tools Vassil Shtonov, SEAS95 W95, has classmates to stop in for a tasting at the
can be used to inform investment W94 CLASS CORRESPONDENT been living in Bulgaria since 2004, brewery in Everett, MA.
decisions. His book launch party was Mindy Nagorsky-Israel married with 2 children. Following a Manny Citron writes My wife
held at 6 p.m. on Nov. 6, 2014, at NYU mnagorsky@yahoo.com career with McKinsey (2004-2009) Bonnie Ufberg Citron W97, our four
Bookstore. Brian lives in New Jersey Syed Zarrar Ali writes that he is and a local cable operator Blizoo (2010- kids and I live in Connecticut these
with his wife, Felicia, and his two sons, married to Fatima Owais and sent 2014), he took the position of interim days, but we try to make our way back
Brandon and Daniel. in a photo of him with his beauti- Minister of the Energy and Economy to Philly to visit as often as we can!
ful daughter, Maryam Zarrar, 7. He is of Bulgaria. As Minister of Energy and Kristine Daniels married Brian
W88 CLASS CORRESPONDENT the director of Lahore Chess Club and Economy, he is responsible for setting Borowsky W93 in 2002. Since grad-
Marci Cohen working to promote chess in Pakistan. the national policy of these important uating and meeting at work in
rockhackcohen@yahoo.com Sheetal Jhunjhunwala writes that sectors of the Bulgarian policy. Philadelphia, theyve lived in Sydney,
Lauren A. Burnhill recently published she has become a full-time pranic Post graduation, Mirza Beg went London, Ho Chi Minh City, and cur-
her rst book, My Summer in Havana: healer and instructor, Putting all the to work for Donaldson, Lufkin & rently live in Melbourne, Australia.
Jenrettes Los Angeles office, and sub- Kristine currently works for ANZ (one
sequently transferred to the London of Australias largest 4 retail banks) as a
office in 1999. Stayed there post acqui- district manager looking after regional
sition by Credit Suisse till end 2005 branches. Kristine and Brian have
after which she helped start the London recently returned from a 2-week holiday
office of GSO Capital (now part of The in Myanmar, and are eagerly planning
ALI GIAGRANDE
GREENE
Class Notes W2000s
estate opportunities. Keith lives in the Professionally, their company Sam &
BROWN western suburbs of Philadelphia with Sara, a contemporary interiors brand,
his wife Alissa and four children. To was featured in Harpers Bazaar. So its
all my classmates, feel free to send me been a super exciting summer for them!
an email to re-connect keithdelaney@ Rachel Kramer (ne Slosburg) and
yahoo.com her husband, Alex, welcomed their
Nicole C. Maloy, after eight years as son, Arthur Justin, on July 1, 2014. He
Director of Penn Alumni Multicultural weighed 6lbs. 11oz. and was 20 long.
Outreach, I have moved to Penns Arthur joins big brother Henry, who
Office of Undergraduate Admissions turned 3 in April. The family lives in
to serve as the new Associate Dean Dallas, where Rachel works with her
of Equity & Access. I am also the family in its real estate development
Co-Chair of our upcoming 20th company, overseeing its Dallas acquisi-
reunion planning committee, and I tions and new construction.
hope to see you back on campus on On the professional front, our class-
Saturday, May 16! mates have been keeping busy as well.
Come network with these alumni Tom Lewis and his business partner
and more at our 20th Reunion at Jared Smith W01 started a hotel man-
Alumni Weekend 2015. Watch for agement company in January 2014.
details, and save the dates: Friday, May They also opened two new hotels,
15 - Sunday, May 17. which they developed and now manage,
in the summer of 2014. The rst was
W97 CLASS CORRESPONDENT a Faireld Inn and Suites by Marriott
Regina Wong Jaslow in June and the second a Holiday Inn
The Penn Club Express in the greater Salt Lake City
SINGHAL 30 W. 44th Street area in August.
New York, NY 10036 Wesley Gray and his partners,
Tel: 212-403-6657 Patrick Cleary W03 and David Foulke
Fax: 212-403-6616 WG95, launched their rst active
rjaslow@pennclubny.org exchange-traded fund in October.
Ticker: QVAL, ValueShares U.S.
W99 CLASS CORRESPONDENT Quantitative Value ETF.
Hang Kim Reid Weisbord, vice dean of Rutgers
hangk40@yahoo.com School of Law-Newark, was promoted
Tara S. Pellegrino, Esq. W99 to the rank of full professor of law with
married Paul Schild at Sundy House tenure. He was also named the Judge
in Delray Beach, FL, on June 14, 2014. Norma L. Shapiro Scholar.
The couple will be traveling to Spain,
Morocco and Portugal for their hon- W03 CLASS CORRESPONDENT
eymoon and then returning home to Alexis Decerbo
Delray Beach, FL, where they reside. adecerbo@yahoo.com
2000s
next years trip. Chad Mandelbaum became Senior Keri Vislocky
Erik Moreno writes: My wife, Vice President - Finance at Wheels keri@alumni.upenn.edu
Cara, and I welcomed our 4th child Up in New York City last November.
(Sebastian Joaquin Moreno) on April Wheels Up is a membership-based W01 CLASS CORRESPONDENT W06 CLASS CORRESPONDENT
24, 2014. He joins big sisters Francesca private aviation company founded by Aric Chang Daniel Kline
(7), Sophia (5) and big brother Luca Kenny Dichter, who previously started aricchang@alumni.upenn.edu dan@delanceystreetcap.com
(2). We continue to reside in Los Marquis Jet. Chad can be reached
Angeles. at cmandelbaum@wheelsup.com W02 CLASS CORRESPONDENT W07 CLASS CORRESPONDENT
Jason Greene writes Since my Vince Scafaria is founder of Sandy Hsiao Elise Peters Carey
last update in 2011, there have been DotAlign, whose software analyzes Sandy.Hsiao.wh02@wharton.upenn. elise.peters@gmail.com
many exciting happenings: 1) On relationships and facilitates introduc- edu
10/23/12 my wife, Claire, and I wel- tions based on Outlook, LinkedIn, Lots of W02 babies to introduce to you W09 CLASS CORRESPONDENT
comed Sebastian Mateus Greene into and CRM data. He previously founded guys this quarter Dianna He
the world (recent world cup photo - DealMaven (sold to FactSet), and was Drew Brown and Susanna Mock dhe@alumni.upenn.edu
Dale Uruguay!!!); 2) In June of 2013, I also an investment banker for DLJ. Brown C01 WG08 welcomed their
became CEO of BandMerch, a private Vince lives in Colts Neck, N.J., with his second son this summer, Grant Davis W12 CLASS CORRESPONDENT
equity-backed turnaround in the brand- wife, Jill, and their four children. Brown. With older brother, Cole, and Rajit Malhotra
ing and licensing world, where I have Keith J. Delaney, after starting his baby Grant, its always a party at the rajitm@gmail.com
led the company through two acquisi- career at Arthur Andersen, has spent Brown house!
tions, integration and into protability; the past 15 years as Chief Financial Ruchika Singhal and her husband,
3) On 8/29/14, Claire and I celebrated CLASS OF 08, 11, 13 & 14
Officer for regional real estate develop- Saurabh, had a fun summer with their
our fourth wedding anniversary; 4) CALLING ALL VOLUNTEERS!
ment rms and recently has joined a two sons: Shawrya, 2 years old, and
On 3/23/15, we will be welcoming baby Are you interested in becoming your
few partners to form D2 Management, Neil, 6 months old. The family spent
#2. Feel free to reach out to me at Class Correspondent? Contact:
a transaction advisory rm focus- the summer in Singapore ironing
jason@blueshinternational.com. classnotes@wharton.upenn.edu
ing on private company M&A and real out baby brother sibling rivalry!

around our home. communicate to the MBA community
MBA Richard Tecca lives at 320 Jagger
Lane, Hebron, CT 06248. He can be
contacted at rftecca@ gmail.com and
Dr. Robert A. Howell is the David T.
McLaughlin D54, T55 distinguished
what the WGES is. When 45 years has
passed since your graduation, you are
860-228-9405. He retired in 2010 visiting professor of business adminis- automatically a member.
1940s as vice president, sales and market-

ing Schneider Electric Motion USA
Marlborough, CT. He is currently a
tration at the Tuck School. He is also
senior partner of The Howell Group
LLC and was a co-founder of the
Please check out the web page
http://www.wharton.upenn.edu/alumni/
emeritus-society/index.cfm
Joseph A. Weston W42 WG48 writes: board member of the Connecticut Center for Corporate Excellence. He is Please send me any personal data
Please let Mr. Fallon know that he is Gilbert & Sullivan Society and a singer a leading authority on corporate gov- you would like to share with our
not alone from the 1940s. I am alive, and board member with the Hartford ernance and nancial measurement, classmates.
well and now living in Florida. Chorale. analysis, reporting and control prac-
tices. His activities span fundamental WG65 CLASS CORRESPONDENT
WG59 CLASS CORRESPONDENT research in his eld, fast conversion to Dick Rappleye
1950s Jack Dibb

olddibber@yahoo.com
education and assisting leading-edge
organizations effect change. Dr. Robert
A. Howell writes: I continue to teach
dickrappleye@gmail.com
Our class reunion WG65 is coming up
next spring, and as class correspon-
WG56 CLASS CORRESPONDENT at Tuck, where I have been for the dent, Id love to hear from more of
C. DeWitt Peterson
dpeterson53@comcast.net 1960s past 15 years. To see what I have been
doing, google Dr. Robert A. Howell.
you. This is a great time to share news
and updates, and to consider meeting
others at the reunion. Hope to hear
WG57 CLASS CORRESPONDENT WG60 WG63 CLASS CORRESPONDENT from you, and I know others would like
Philip Murkett Stephen Lendman writes: In August, Cornelius ODonnell and Bob Blumenthal to hear from you too.
fillotmer2@aol.com I crossed the age-80 rubicon. My spirit Carol and Alex Morris returned
and energy remain strong. My esh WG64 CLASS CORRESPONDENT to Sarasota after a month of enjoying
WG58 CLASS CORRESPONDENT isnt like it used to be. About 10 years Ed Lyons Dublin, Vienna, Prague, Amsterdam
John Majane ago in retirement, I embarked on a lyons.non-pub@snet.net and Paris. Son Jack drove them around
jamajane@verizon.net new career. A hugely rewarding one. Hi! Im the new class correspondent. Ireland, and Alex unsuccessfully
Bob Collins WG58 writes: My new All pro bono. I became a writer, author, I was one of the class ambassadors for researched Dublin genealogy archives.
book tells the story of starting Cobe radio host and frequent guest on pro- our 50th Reunion held in May. Daughter Jane also joined them and
Laboratories Inc. and building it to an grams others host. Ive written four One of the concerns in the prep- is back in Riyadh, Saudi Arabia.
international medical device company books. I hope more to come. I focus on aration for the event was trying to Grandkids couldnt see why anyone
of $250 million in sales. If anyone is world and national issues. Geopolitical reach our classmates. We had prob- would kiss a yucky (Blarney) stone,
interested in purchasing it, just go to ones. Cutting-edge ones. Scrupulously lems trying to contact most of you. and they saw St. Vitus Cathedral,
eBay and type in The Cobe Story. It explaining vital truths. What everyone Usually the e-mail address and/or in proud Prague, and Amsterdams
is available for $10.00 plus $3.50 for needs to know. I post all my articles phone number were not current. I Grachten Festival opening. It was a
shipping and handling. on my blog site - Steve Lendman blog. have no idea if your snail mail address great, memorable trip.
Bill Rudelius writes: After my Many web editors publish them. Like is up to date. Please send me your
MBA, I went back to work for GEs Orwell, I believe in times of universal current preferred contact at the e-mail WG67 CLASS CORRESPONDENT
Missile and Space Group at 32nd and deceit; truth-telling is a revolution- address below or to Helen Formanes at John W. Thompson
Chestnut doing stress analysis on the ary act. formanes@wharton.upenn.edu. JWThompson@thompsonim.com
Discover satellite, the rst US spy sat- The reunion was successful in that
ellite. At the same time, I was going to WG61 CLASS CORRESPONDENT our class had the highest number WG69 CLASS CORRESPONDENT
class to get a PhD in applied econom- Frank Pinkus of MBA attendees for their 50th Karel J. Samsom, Ph.D.
ics at Penn. In the early 1960s, I left rfpinkus@sbcglobal.net Reunion 21 or 22 depending on who ksamsom@mac.com
to teach marketing at the University of counted. The following were there:
Minnesota, where I taught for almost WG62 CLASS CORRESPONDENT Paul Allersmeyer (Grong Wang a UVA
four decades.
Judith Falcigno writes: Paul
Falcigno, my husband, died on
Paul Schurr
Pschurr2008@gmail.com
James McKeon writes: Since my MBA
student and Isa, Pauls wife); Ron
Goettinger (Eli Moss, his signicant
other); John Karcher (Lois, wife); Bob
1970s
September 1, 2013. He received his Wharton School days in 1960-62, I Killibrew (Pedie, wife); Bill Hamilton; WG70 CLASS CORRESPONDENT
MBA from Wharton in 1958. Paul was have enjoyed an exciting, fullling and Michael Kearney; Ed Lyons (Diane, Donald Short
a professor of marketing and inter- rewarding life. ... Stayed on at Penn wife); Jon Peterson (Patricia); Jerry donlynnshort@verizon.com
national business at Quinnipiac and earned my PhD in 1969. ... Married Pyle; Alejandro Rodriguez; James J. H. Dow Davis writes: I retired eight
University, Hamden, CT, and retired Jackie Lewis, former Penn employee in Sanborn (Nancy); Bob Sherwood years ago after more than 20 years
in 1995 as Professor Emeritus. He 1967. ... Joined Northwestern Mutual (Joan); Duane Sonneborn (Lynn); in nancial services in the US and
also was the founder and rst direc- Life in 1968, where I advanced to SVP Frank Wagner; F. Xavier Gonzalez overseas, followed by 12 years at the
tor of the now renowned Quinnipiac of corporate planning, and left in 1983. (Marisol); Harvey Gleeksman (Sue); Kennedy School of Government as
University Polling Institute. He lived ... Had two sons, Christopher and Guran Tatlioglu; Ed Carr (attended Executive Director of The Center for
with me at 62 Charlton Hill, Hamden, Timothy. ... Christopher is an execu- Sat. luncheon only.) and Nazir Dossani Business and Government. Currently,
CT 06518. tive at AIG, and Timothy has his own (Nasreen, wife) attended Saturday lun- I am chairman of The Arthur Vining
Acupuncture Practice in Brooklyn. ... cheon only. Davis Foundations, family founda-
Joined Mass Mutual in 1983 as SVP of We had 2 classmates who only regis- tions that support liberal arts colleges,
planning and retired in 1993 at age 62. tered- Peter Branch and Gene Rainis. caring attitudes in medicine, inter-
CLASS OF 5054 & 68
... Returned to teaching entrepreneur- If I left anyone out, Im sorry. faith dialogue and understanding,
CALLING ALL VOLUNTEERS!
ship and marketing at Western New In addition, I volunteered to be and secondary education and public
Are you interested in becoming your
England University and retired at age on the steering committee for the television.
Class Correspondent? Contact:
83 in May 2014. What a ride I have Wharton Graduate Emeritus Society.
classnotes@wharton.upenn.edu
had. ... Now I play golf, garden and putt A major task of the committee is to
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360 W INTER 2015 | W H A RTON M AGAZINE | 3 7
Class Notes WG 1980s
to Denali. Jim Daverman: jdaverman@ Doln Restructuring Advisors, a con- Law Lawyer of the Year.
DAVERMAN & MUIR
redshpartners.com and Art Muir: sulting practice focusing on business The Pennsylvania Gazette reported
amuir@mcquirewoods.com. and nancial restructuring for banks that accountant Robert Comer of
and corporations. She is also in the Bala Cynwyd, PA, passed away on
WG74 CLASS CORRESPONDENT process of building a business that September 26, 2013.
Carmen (Jones) Hill helps US companies nd partnerships Robert Bowman was listed among
citihousing20@aol.com in the GCC and MENA, at large, as a the Fifty Most Powerful People in
means of entering these markets. New York Sports in the July 24, 2014,
CLASS OF 77 Aida notes that being a woman edition of The New York Daily News.
CALLING ALL VOLUNTEERS! working in the Middle East, and Dubai Dushyant Pandit, Robert C.
Are you interested in becoming your in particular, has been no more dif- Schneider and John J. Maddox, Jr.
Class Correspondent? Contact: cult than being a woman banker in all were among those attending the
classnotes@wharton.upenn.edu New York City. Saudi Arabia remains Wharton Club of New Jersey, July 17,
a challenge, she says, but most other 2014, program on health care payer and
countries in the region have absolutely provider consolidation.
WG78 CLASS CORRESPONDENT no problem dealing with womenand Anne McNulty received the
Mel Perel sometimes it is even an advantage. Distinguished Service Award on May
mperel@columbus.rr.com Outside of work, Aida is an avid 16, 2014 from the Wharton School
Mel Haughton is currently CEO of swimmer and biker and says shes been dean early in the reunion weekend.
WG71 CLASS CORRESPONDENT Wild Boar Products in Huntington fortunate to frequently be able to travel Dushyant Pandit was among those in
Kathy Jassem Beach, CA, an aftermarket manufac- on business and pleasure to Europe attendance.
1764 Russet Drive turer of off-road accessories for the and Asia. She invites anyone interested Andrew Heller, Richard W. Meister,
Cherry Hill, NJ 08003 Jeep Wrangler, in which he is an angel in establishing a business in the Middle Robert C. Schneider, Roger C.
investor. His other angel investments East, and especially in Dubai, to email Hamilton, Dushyant Pandit, William
WG72 CLASS CORRESPONDENT have included clean energy, health her at aida@dolnadvosors.com. Bintzer and Joy Sardinsky were among
Joan Eisenberg insurance software, nutritional supple- Brian Lenane is now an account those back for our 35th reunion, May 16
Joaniris@aol.com ments and automotive accessories. In executive at CGI Federal, responsible through 18.
Theodore S. Corwin is the president 2006, prior to investing in Wild Boar for delivery of IT technical services at In a Bill Madden column in the May
and founder of Designmaster Furniture, Products, Mel sold his founding inter- the US Departments of Interior, Energy 25, 2014, edition of The New York Daily
a Hickory-based manufacturer of est in Best Lighting Products Inc., the and Transportation. He and his wife News, Robert Bowman was written up
dining chairs and barstools. Before largest private label manufacturer of still live in Washington, D.C. as a potential next commissioner of
founding Designmaster, he worked for exit signs and emergency lights in the Seth Parker writes that life has Major League Baseball.
years at Bloomingdales and The Lane US, to Wafra Partners, a NYC-based evolved (a bit) since entering his 60s.
Company. Corwins Designmaster is private equity fund. He continues to consult in the energy
celebrating its 25th anniversary this
year.
Aida M. Kalla is the founder
and managing director of Doln
Restructuring Advisors in Dubai,
industry, often testifying before state
commissions on power issues, and
also delivered two lectures at univer-
1980s
WG73 CLASS CORRESPONDENT United Arab Emirates. After graduation sities in Switzerland in May 2014. WG80 CLASS CORRESPONDENT
Naomi Levin Breman from Wharton, Aida began her career Seth says he remains physically active Bob Shalayda
breman.naomi@comcast.net as a corporate nance banker in New (hiking, boogie boarding, cross-coun- rshalayda@ieee.org
4 Druim Moir Lane York City and held several senior man- try skiing, swimming, volleyball), but
Philadelphia, PA 19118 agement positions over the years, with less strenuously nowadays with a new WG81 CLASS CORRESPONDENT
Mobile: 914-391-2134 a specialization in loan syndications, ACLand soon to be two new ACLs! Alan M. Sooho, MD
Jim Daverman and Art Muir sum- leverage and acquisition nance, media (Reassuringly, Seth says these appar- soohoalan@gmail.com
mited Mt. Cotopaxi, a 19,347 foot tall, and telecom, and debt restructuring. ently come from a good home and Janis Hersh WG81 and I briey crossed
heavily glaciated volcano in Ecuador; During those years, Aida worked at carry 30,000-mile warranties.) paths without knowing it. In March,
in the photo Jim is the guy in the front. Irving Trust/Bank of New York, ABN after almost ve years of retirement,
They have been good friends for 43 AMRO, SBC Warburg Dillon Read and WG79 CLASS CORRESPONDENT I began doing mental health disability
years, live in Chicago and are still BNP Paribas. In 2006, she moved to Robert C. Schneider examinations part time at the Veterans
married to Wendy Pearson Daverman Bahrain with BNP Paribas as regional RSchneider@cuddyfeder.com Administration Boston Healthcare
(SAMP 72) and Leslie Fisher Muir head of structured nance for the Governor Jerry Brown used a debate to System. Janis retired on April 1 as direc-
(MA 72). Jim started a couple of VC MENA region. While in Bahrain, Aida highlight his restoration of Californias tor of the New England Engineering
rms, including Marquette Venture worked on several major leveraged nances as challenger Neel Kashkari Center. It is one of four programs
Partners, where John Patience joined mandates supporting GCC telecoms said Tesla Motors Inc.s decision to that uses industrial and systems engi-
him. For the past decade, he has been acquisitions as they expanded region- build a factory in neighboring Nevada neering to address both regional and
a senior advisor and operating partner ally. She also established the rst BNP shows the state isnt doing enough to national improvement opportunities.
to Robert W. Bairds Global PC & Paribas-sponsored private equity fund lure jobs. Janis is exploring other activities, while
VC business. He has served on and in MENA. In 2008, she returned to Doug Peterson sold his old bosss still doing projects with her former
chaired many boards, including a local New York, taking personal time to take jet not long after becoming chief execu- colleagues.
Philadelphia-based, publicly traded care of her aging father in Connecticut, tive officer in November, a move to cut
specialty pharmaceutical company. All subsequently returning to the Middle expenses that help keep McGraw Hill WG83 CLASS CORRESPONDENT
three of Jims boys earned their MBAs: East in 2010 as a managing direc- Financial Inc. less protable than rival Taz Rajwani and Renee Migdal
Ben WG08, Dodge Kellogg 10, and tor of investment banking at Standard Moodys Corp. tazrajwani.wharton@gmail.com,
Ted WG 11. His daughter is an anthro- Chartered Bank in Dubai, where she Richard S. Green, Esq., an attorney reneemigdal@optonline.net
pologist and special education teacher. remained until 2013, heading the who is a partner at the Thompson &
After Wharton, Art Muir went to law banks wholesale banking operations in Knight LLP law rm, was honored by WG84 CLASS CORRESPONDENT
school and is a practicing attorney. He Bahrain. The Best Lawyers in America 2015 as he Larry Bartimer
is planning an expedition with his son In early 2014, Aida established was named 2015 New York City Energy bartimer@thepsg.com

WG85 CLASS CORRESPONDENT GIRARDEAU HOFFMAN
Kent Griswold
kentgriswold@yahoo.com
WG86 CLASS CORRESPONDENTS

Elizabeth Wilkins and David Bigelow
thewilkyway5@aol.com, david.bigelow.
wg86@wharton.upenn.edu
One of our classmates, whom I most
admire, Jill Kaufman Beraud has
been busy relocating her family from
Boston to New York. In October, Jill
left her post as CEO of Living Proof,
after three years, to assume the role
of executive vice president of mar-
keting at Tiffany & Co., where she is who is getting his degree in Criminal SHAW SCHOLLE
responsible for global retail operations, Justice and leaning toward a career at
including real estate and store develop- this point in law enforcement. I had to
ment. I last saw Jill two reunions ago, laugh when Terrell wrote that he hopes
and she is living proof that an excep- his son doesnt arrest any of our class-
tional woman can manage to have both mates. I have an image of at least a
a rewarding career and family, while dozen or so WG87s (also known as my
still looking great. (I am not one of best friends) being led-away in hand-
those exceptional women.) Jill handles cuffs. (Actually, I shouldnt joke about
it all with aplomb, though she concedes that; those things really hurt and leave
its never as easy as it seems. Best a mark.) Terrells youngest, Lindsay,
wishes to Jill in her new position! (No, is a sophomore at Notre Dame and is
Tiffanys will not be providing compli- the starting point guard on the basket- the Calatrava PATH Station will be old enough for college, since, I, surely,
mentary reunion souvenirs in 2016.) ball team. She and her teammates had opening soon. Governors Island just havent aged that much! Kate and her
a great season last year, going unde- added 20 acres of open public space husband, Peter, are planning to move
WG87 CLASS CORRESPONDENT feated before losing to U. Conn in the with ball elds, hammocks and play- from southern Rhode Island (where
Matt Hoffman NCAA championship game. Additional grounds. Catherine lives downtown her commute is pretty severe) to
mhoffman@wunr.com congratulations go to Terrell for being with her husband and two sons. Boston when they soon become empty
Id like to begin with an apology for recently named a senior associate in The non-prot world seems to be nesters.
not submitting an update for the last the Finance Organization at George a greater part of many of our lives, Still trying to push EV around
edition of this august publication. I got Washington University and for fol- with Jennifer Adams Knebel and her the world, Christian Girardeau
bogged-down with a restraining order, lowing one of his passions, as a high husband, Craig WG86, being prime included this photo of himself in a
a Ponzi-scheme indictment, an arrest school basketball coach. examples. They have both left Wall company car from Schneider Electric.
for sporting a Justin Bieber t-shirt I previously wrote about Richard Street; Jennifer is the CFO of a mental (Unfortunately, many of the words on
(I swear, I was just wearing it for a Hoffman and his travels with his son, health clinic for children in Stamford, the car appear to be misspelled, so I
friend), a lawsuit from an Idaho couple Matt. Well, heres a great picture of CT and is trying to learn how to dont know what message hes trying
suing for joint custody of my dog, and them in Romania in the Carpathian deliver behavioral health services with to convey. Yes, Im kidding. Its French
weekly therapy for a somewhat-embar- Mountains. (And check out Richards limited funding and seemingly endless and the rough translation is, Keep up
rassing addiction to videos of athletic cycling jersey that says, Brainstorm. demand. This also involves leverag- the great work, Matt. I love reading
pets. (Twiggy, the Waterskiing Squirrel Funny, Ive heard about brainstorms ing the use of electronic health records, your class notes!)
is a must-see.) but have never experienced one which has, actually, been fascinating. Another cool photo comes from
Once again, you the amazing personally.) In a similar vein, Craig has become Beth Haffenreffer Scholle in the
Wharton b-school class of 1987 Catherine McVay Hughes was a science teacher of middle school middle of a sailing race. If you look
overwhelmed me with your ood of reelected unanimously as chair students at a K-8 private school in closely, you can see Beth in the boat
replies to my e-mail request for news. of Manhattan Community Board. Faireld, CT. After having four of our closest to the mark, gently nudging one
Unfortunately, I must adhere to my Coming back stronger from own children (now aged 14-21), I guess of her competitors on the adjacent boat
policy of writing about only those September 11th and Superstorm Sandy, we thought, naively, we had become overboard.
classmates who offer me cash or S&H we are the fastest-growing residential experts. Many of us live fast-paced lives, but
green stamps. (And if you got that ref- area in New York City. Growth creates A fellow New Englander, Kate not compared to Ann Biester Deane.
erence, feel free to smack yourself with its own set of challenges, among Reed is the senior vice president and To most people, Ann is a residen-
your cane or rotary phone.) them access to schools, affordable chief strategy officer at Beth Israel tial real estate broker with Halstead
OK, my rst victim is Terrell Allen. housing, congestion, environmental Deaconess Medical Center, where she in New York City, where she has been
A resident of Bowie, Md., and neigh- impacts and a shortage of open space. is helping BIDMC become the hub of living since graduation. She is also the
bor of Tonya Chisolm Miles, Terrell For each of these we have a strategy a growing clinically integrated system mother of three. Her youngest, Carter,
celebrated in September 23 years of and some early results. For example, of providers, hospitals, and health is a freshman at Wesleyan; Katie is
marriage with his wife, Lorna. Their we have over 50 LEED or Energy- centers. Learning lots, working hard, studying post-grad in Germany; and
oldest child, Taylor, graduated a year Star-rated spaces, many of which are and trying to make a difference. In my Anns eldest, Meredith, is working
ago from Virginia Wesleyan College skyscrapers, both residential and com- spare time, Im going on college tours in Washington, D.C. To others, Ann
with a Communications degree. mercial. Recently a school opened in with our two high school seniors. who is a racecar driver, tooling around in
Fortunately, she doesnt live too far the Frank Gehry-designed tower, and mostly want to go to school close to her Porsche 911 GT3. She will start
away (in Virginia Beach) and doesnt another school with 650 seats will home but, just last week, added two racing soon and has reached 140
appear to be a part of the boomer- be opening in 2015. The spectacu- schools on the West Coast to the mix. mph (I asked). Anns favorite track is
ang generation. Child #2 is Terrell IV, lar Fulton Transportation Center and It seems impossible that our kids are Watkins Glen in New York, although
WEINSTEIN and can do this. To believe in your- and the global head of equities within
self sometimes takes someone who the rms investment banking divi-
you respect enormously to say things sion. He is also the president and CEO
like that. Currently enjoying living in of Credit Suisse USA. Additionally,
the lovely ski town of Telluride, Colo., Tim serves on the executive commit-
for the past three years with my wife tee of the board of directors of the
Shannon and our four boys (Jake 18, Securities Industry and Financial
Dylan & Elliot both 16, and our bundle Markets Association (SIFMA) and is
of joy and surprise baby, Cooper, 8). active in several charitable and philan-
I spend the mornings at my office, thropic activities. He is a member of
located a stones throw from the the board of trustees for the University
Gondola, overseeing my private equity of Virginia College Foundation, as well
real estate fund (cantorfunds.com). And as member of the board of trustees of
if the weather is sunny and conditions the Credit Suisse Americas Foundation
she improvised while visiting Katie in in Newport Beach, CA) in June 2012. powdery, I meet up with friends on the and a member of the board of directors
Germany and got her rented Opel up He and his wife, Amy, havent given mountain for some skiing. My busi- of Project Morry.
to 170 km/hour (over 105 mph). The up Boston completely, however, and ness HQ is located in St. Petersburg, Project Morry is named after Morry
thing was shaking like mad! nd themselves traveling back and Fla., within the Signature Place Tower Stein, the father of fellow classmate
Kyle Shaw wrote, I have lived forth between the two coasts fairly project I developed, so I go back and Tony Stein. Project Morry was started
in Hong Kong and Shanghai since frequently. forth regularly. Love to re-connect after Morry was tragically killed in a
1989, and thought I was too far gone I must say that I was rather taken with my Wharton pals so please email plane accident, and is dedicated to one
to report anything. (Not to worry, aback by a legal complaint led against or call: joel@cantorpartners.com or of Morrys life missions, providing eco-
Kyle. Many classmates have told me me by Rob Chmiel (the CFO of Orion 813-507-4005. nomically under-served children, ages
that Im too far gone to write this Resource Partners, no less). In the On a glorious sunny day in October, 9-18, with the opportunity to foster
column.) But, this time I thought I complaint he states, In the most Odette Go hosted West Coast class- learning and development, expand their
should share some news about my recent edition of Wharton Magazine, mates at her beautiful home in San horizons and nd their true passions.
good fortune. Our second daughter, I felt slandered by Mr. Hoffman in a Francisco. To attend a future West Honoring Tim OHara is just the
Kelly Shaw, arrived on July 12. See a rather unprofessional way when he Coast WG89 gathering, please contact start of this years Wharton 90 involve-
picture of Kelly with her 7-year-old was sending his condolences to Jeff Daniel Cheng: daniel_pdq@pacbell.net. ment. Other classmates play important
sister, Julia. Kelly was christened in Schrager regarding our dinner plans After co-hosting a pre-reunion event roles for Project Morrys manage-
Rome this month with several family in May. Rob then goes on to say that with Brooks Crankshaw in Chicago in ment: Doug Present, President; Scott
members attending. In addition, Shaw he wants a full investigation into this April, Michal Clements enjoyed recon- Blankman Development Chair; Tony
Kwei & Partners, an Asian private matter and expects a special prose- necting with WG89 classmates at our Stein Board Member, and you may
equity rm, recently has closed on 2 cutor to be named for an immediate 25th WG89 in Philadelphia this May. also know one or more of their com-
new investments (SCHMID Group and investigation. Rob continues by asking Friend and classmate, Rosalie Jing, mittee members: Tom Trynin, Curtis
Amos International Holdings). This for the involvement of the D.O.J., the ew in from California for our reunion Bashaw, Laurie Blitzer, Adam
is much less important than our new C.I.A., the F.B.I., and all other let- and encouraged a few trips to the Finerman, Brian McLoughlin, Dave
baby, but is good for my rm, which I tered agencies in Washington. I dont Reading Terminal Market. In addition Stetson, Mark Weinsten and Ron
founded 15 years ago. How beautiful is want to air our dirty laundry here, so let to the social context, content highlights Rosenburg.
that picture?!? me just say to Rob that I have received included hearing about the latest devel-
Fortunately for all of us, John countless (i.e., two) emails of support. opments from Professors Pete Fader, WG91 CLASS CORRESPONDENT
Cozzi did not send a photo of himself; One reads, A bunch of us felt so bad David Bell and Jeremy Siegel, among Chris Malone
however, he did provide us with an for Jeff that we held a fundraiser to be others. Professionally, Michal continues cbmalone@mindspring.com
update. Pat McDonough organized a sure he has the money necessary for to speak about millennials and fami- Weve got updates from six WG 91
quarterly dinner for classmates at the all the therapy hes going to need. The lies/moms to organizations that target classmates this time. Also, in addi-
Wharton Club in New York where one other says, Chmiel actually gradu- these groups and to work on strategic tion to this magazine column, all
classmate presents for 10-15 minutes ated? Just drop the lawsuit, Rot. You planning and market strategy efforts current and many previous updates
on a topic of personal interest. Pat have no chance of winning. for clients in the foodservice, food for our class are now available online
kicked off the series with a talk about To ensure I conclude this column and nancial services industries. She and unedited at our class website,
the Comanche tribe (I think he was on a down note, I am including a photo also writes The Market Strategist at www.WG91.com. I also have an e-mail
kidnapped by the Calvary at birth, of Jay Weinstein and his surprisingly the Chicago Tribunes Chicago Now address for everyone listed here, so let
wrote John, doing his best impression beautiful family in Iceland. I think its website http://www.chicagonow.com/ me know if you need help contacting
of a humorist.) John indicated that he safe to say that this is the farthest Jay marketing-strategist/. anyone.
might go with Twiggy, the Waterskiing had ever been from a couch. Jeff Varick writes: Deedee and I
Squirrel. had the unexpected pleasure of having
John Flannery writes, I came back
from India in March of 2013 and ran
WG89 CLASS CORRESPONDENT
Patricia (Berenson) Bogdanovich 1990s dinner with Rob and Becca Fitzpatrick
in Detroit this past week, in from
Australia for Robs work and a round-
GEs M&A activity for the last six quar- patricia.berenson.wg89@wharton.upenn.
ters. Effective October 2014, I have edu WG90 CLASS CORRESPONDENT the-USA trip for Beccas birthday. It
taken the CEO position in our Health News from Joel Cantor: I capped Jennifer Taylor had been as Wharton classmates that
Care business based in London. Not my mid-life athletic career with com- jenntaylorhome@gmail.com wed last seen each other, and it was
peting in the Ironman Championship Project Morrys18th Annual Autumn wonderful to pick up where we left off.
sure who lives in that area but we will
event in Kona, Hawaii, on October 11 Elegance Gala was held on November Great fun.
be there! An article about Johns move
having qualied during the Louisville 13 in downtown Manhattan. Classmate Kacey Carpenter writes: Summer
appeared in the October 6th issue of
Ironmanmaking it my fourth and last, Tim OHara was recognized for his was fun with all four college kids home
The Wall Street Journal.
at least for a while. It would of not hap- long time involvement and commit- with us. Rob graduated from high
I recently spoke with Neal Reiner
pened without Coach Lewis looking me ment with the Morry Award. OHara school and did a summer internship
who left Gottex Fund Managements
in the eye and telling me, Youre ready is a managing director of Credit Suisse at ozy.com; Kevin worked hard to save
Boston office to join PIMCO (based

SHAIFER the Princeton school system. I am still
VARICK
going back and forth to Singapore/
India and other places doing invest-
ments in the life sciences and
healthcare space. Look forward to
catching up with fellow Whartonites!
Linda Jenkinson writes: I have
moved my family to Sydney and am
now bi-oceaninal (new word). I am
commuting between San Francisco
and Sydney, still leading my company,
LesConcierges, which is now global.
We are working hard on our quest for
global domination. I wanted the kids
some spending cash for UW; Emma the void being lled. I would certainly borrowers. Management is interested to have some kiwi; just joined the
toured Europe and worked part-time like support from anybody familiar in the massive part of the population board of Air New Zealand, and the New
at Stanford; and Cass studied for the with a fund like this. The initial invest- for whom there is no credit data (as Zealand Olympic Counsel. So we are
MCAT. After breaking my nger and ment is to SmallBusinessLending.com. opposed to good vs. bad data). SBF all spending great times down under.
getting a surgical procedure on my left SBF aspires to be leader in the C and considers traditional data but has also Also, Im continuing with my role as a
index nger, I recovered in time for D paper niche as opposed to OnDeck created an Intent Index, which looks huge supporter of Americas Cup (for
a round-the-world trip with stops in (the industry leader in the A & B at nontraditional (non-credit-related) any of you who are interested). Sydney
Vegas, N.Y., Brussels, London, LA and paper space, which is preparing an data in order to assess the quality of a summer here I come ... looking to have
Sydney. Kathy and I are now enjoy- IPO) Square or Kabbage Inc. borrower and their degree of commit- a Sydney Wharton Xmas Party for the
ing an empty nest with many weekends SBF targets a still-creditworthy but ment to repay debt. Several members aussie/kiwi gang down under!!!
in the Sierras. Its beautiful in the fall lower tier of borrower than some of of our team have led the growth of very Robert Cain writes: The Academy
so call us if you would like to visit us the new star players in the subprime successful companies that utilize this of Motion Picture Arts & Sciences has
in the beautiful gold country in the space. SBF started in 2013 as a broker kind of methodology. chosen my screenplay, GAGARIN, as
Sierras with Apple Hill, winetasting, of these loans with the intention of Sanjay Sehgal writes: We nally one of 10 Finalists from 7,511 entries
hikes, rivers, lakes and more. transitioning into being a direct lender. moved back to Princeton, NJ, this in the 2014 Nicholl Fellowship screen-
Steve Shaifer writes: I joined a The capital being raised allows for this summer after 20 years in Asia (barring writing competition.
team launching a fund to the subprime, transition. The team has exceptional two years in Princeton in the last
alternative lending space. Banks are experience and some really inter- decade). Our oldest enrolled at UCLA
not lending to small business. Thats esting methodology in underwriting this fall, and the other two kids are in
BENEFICIARY DESIGNATIONS
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215.898.6171 | 800.223.8236 | grege@dev.upenn.edu | www.wharton.upenn.edu/giftplanning
PIERCE CAIN k COHORT REP | Matt Feely

matthewfeely@hotmail.com

Christine Jamgochian Koobatian
ckbtn@charter.net
Peter Enns, Stephen Clarke,
Mark Piegza, Bruce Rodio, David
Wyshner and Wayne Cooperman
held their 21st annual holiday get-
together at Bruces home.
a COHORT REPS | Mitch Goldfeld and

Norm Sanyour
mgoldfeld@dmcos.com, Norman_
Sanyour@capgroup.com
b COHORT REP | Julie Luttinger
drjulie@i-2000.com
d COHORT REP | Mark Chuchra
mchuchra@yahoo.com
e COHORT REP | Paul Smith
Whartonite Flvia Juc, Alberto Guth Joan lives in Brooklyn. Emma served paul@leadwithastory.com
WG92 CLASS CORRESPONDENT and Fernando Mesquita. as unofficial birthday party photogra- f COHORT REP | Lori (Nishiura)
Joe Hage Mackenzie
Need an upscale sandwich in San pher, providing beautifully composed,
joe@joehageonline.com palymac@gmail.com
Francisco? See Frank Slacik. His intimate and natural portraits of party-
Remember Amy Reed? She was one
of the toughest alumnae to nd. Amy
Blue Fog Market on Green Street is goers smiling down upon the 7-year-old h COHORT REP | Dana Gross
a Yelp favorite and one of the fastest photographer. dagro1@aol.com
married Jim Membrino WG91 and
growing businesses in the SF Bay Area. Eileen (Sullivan) Thomas (Cohort
lives in Ponte Vedra Beach, FL, with
Frank, do you deliver out of state (and E) is vice chair of the nonprot agency WG94 CLASS CORRESPONDENT
children Logan (16, a golfer), Sophie Scott Horn
country) for classmates? Win (Women in Need). WIN provides
(14, a golfer) and Cole (10, a surfer). scottho1@live.com
Better yet, see Karen Listgarten shelter and services for homeless fam-
Jim has an investment partnership, and
Amy is the director of contract analyt-
and shell help you visit Franks store. ilies in New York City. Eileen, who a COHORT REP | Keith Khorey
Karen just joined a travel consul- worked at McKinsey after leaving khoreyk@wellsfargo.com
ics (nance) for Healogics, the nations The 20 year reunion back in May was
tancy in Eden Prairie, MN, and writes, Wharton, currently lives in New
largest provider of advanced wound a great weekend to catch up with old
Having traveled to 45 countries, Im Canaan, Conn., with her husband,
care services. She writes, Life is full. friends, and at the time, several of us
here to make your travel perfectand James, and four children, Ian, Mary
We are blessed and very thankful. broke scrapple together and hatched
the planning cheaper and easier! Grace, Luke and Ella.
Our friend Lisa Stockmon made a a plan to follow up with another gath-
Tom Andrew Klein, the CEO of Scott Scovel recently began a new
big move! Formerly chief marketing ering. In September, I met up with
Digital Scientists, has developed the position as SVP of product manage-
officer and executive vice president of Bill Houghton WG94 at his new posi-
Rately Shopping Browser for iPad and ment & marketing at Meta Bank, a
The Leukemia & Lymphoma Society, tion as head of marketing for Kiawah
iPhone , an alternative to conventional top prepaid card bank, having issued
Lisa is now a top executive for the City Island Resort for a few rounds of both
shopping methods on mobile browsers over 500 million cards. Scott leads a
of Hope. Shes handling strategy, mar- golf and drinks before being joined by
like Safari or Chrome. new business, which provides nan-
keting and communications initiatives Tom Gooley WG94, who has recently
cial services for the under-banked,
for this important cancer treatment and re-entered the workforce with TIAA
biomedical research institution.
b COHORT REP | Karen Levine enabling them to join the nancial.
karenl@karenlevine.com He lives in Manhattan (20 years now) Cref. Tom was downright effervescent
Staying positive, Steve Moff, father over his Stanley Cup-winning LA Kings
Tom Mechler is running for state and recently went to Morocco with his
of two terminally ill children, created and wore his gear proudly all weekend.
chair of the Republican of Party of 14-year-old daughter. Next up: His 4th
SydneyAndHunter.com to raise funds We migrated to Myrtle Beach to meet
Texas to replace the current chair, trip to Africa, to Egypt with his girl-
and awareness of Sanlippo Syndrome. up with Bill ONeill WG 94, where we
who is stepping down in the rst half friend. Scott fondly remembers his rst
Steve writes theres no cure or way to spent a day catching up on the beach
of this year. To do so, Tom resigned African trip during the Wharton 1992
slow the disorder. We pray his efforts equipped with red solo cups and a
as vice chairman of the board of the study tour.
will help. Cornhole set.
Texas Department of Criminal Justice
If the stock market is plunging,
(a 37,000-employee, $3.3B/year state
wed better get Mike Purves on TV!
agency), where he served for nearly
Afterward, pick up the Wall Street
nine years. Working with convicted
Journal and read his quotes! A lot of
felons to make better life choices has
people, even the most experienced
been most rewarding. Faith-based ini-
guys, are dazed by this price action,
tiatives played a large role in reducing
said our Cohort J friend in his official
the prison population and closing three
capacity as head of equity derivatives
prisons. Pretty remarkable!
research at Weeden & Co.
Thank you to Peter Kraynak and
Of course, we had international rep-
Joan Adams, who along with Joans
resentation at the World Cupas fans,
daughter Emma, traveled farthest to
anyway. Gerardo Noejovich went to
attend my annual birthday party this
Brazil for the World Cup with daugh-
August. Peter lives in Lansdale, PA,
ter Soa (age 15). He stayed with
and is consulting for the hugely popular
Robert Wieselberg and saw honorary ENNS, CLARKE, PIEGZA, RODIO, WYSHNER & COOPERMAN
KIND (healthy snack bars) brand.

b COHORT REP | Leonard Tannenbaum (Well give you a free pass Scott... this 2012 to pursue personal investing and for several years but mostly based in
len@fifthstreetcap.com time! Thanks for sending the photo. spend time with my 2 kids, Juliette Houston. I left Booz to take a role at
c COHORT REP | Adam Slohn The family looks great!) (8) and Jeffrey (7). I still live in HK BP in London as head of strategy for
Adam.sohn@warnerbros.com Jean Keller writes in from Geneva: but may move soon given a deterio- the global Gas Power and Renewables
d COHORT REP | Leslie Prescott I am still building my own business. It rating atmosphere (business, political & Integrated Supply and Trading
leslie@prescott.cc is going really well, and we have grown and actual air) and a need to nd real Segments. I was then asked to take
e COHORT REP | N.K Tong signicantly. We now have offices in wages sooner than later! I was married on the role of president of the North
nk.tong.wg94@wharton.upenn.edu London and Paris, and we are hoping in HK in 2005, the year I also bought American power business (BP Power
f COHORT REP | Joe Ponsonby to reach USD 1 bn under management RE for rst time ever and left my job of Americas). I did that for a few years,
joehponsonby@yahoo.co.uk very soon. Best wishes for continued 11 years. Talk about a midlife crisis!!! I started up BPs wind business and built
g COHORT REP | Scott Horn success, Jean, particularly in these chal- hope everyone is well! 1000 MW of wind power and added
scottho1@live.com. lenging markets. Hope to see you in Patrick Littleeld: (from NYC) I 2000 MW of natural gas power to the
h COHORT REP | Laura Wolff Rogers New York sometime. hope all of my Wharton classmates are portfolio. I left there in 2009 to accept
laura_rogers@ml.com Byung Kang wins the long dis- happy and healthy. After more than a role as CEO of a PE-backed solar
j COHORT REP | Malcolm Lui tance award for this issue, writing in a decade as a global macro trader at company (Tessera Solar). We sold
Malcolm@malcolmlui.com from Korea: I run a tiny business with Quantitative Financial Strategies (a that company in the spring of 2011. In
l COHORT REP | Corey Luskin my wife, but its a kind of extra-work- hedge fund owned by Wharton profes- 2012 I co-founded a natural gas vehicle
corey.luskin.wg94@wharton.upenn.edu ing hours. In fact, Ive half-retired. I sor Dr Sandy Grossman), I recently startup called Nat G CNG Solutions
or corey.luskin@verizon.net would like to say hello to all. (Thanks joined the hedge fund consulting group and I am currently the Co-CEO here.
Cohort L: Hi everyone. Please send Byung. Since you are in semi-retire- at Towers Watson. I would like to Steven Dietch: All is well from San
news to me at coreyluskin@gmail. ment, you will have time to get the rock publicly thank our fellow WG95 class- Anselmo north of San Francisco where
com. Pictures are always welcomed band back together with your learn- mate Michael Popkin (also at Towers Anna-Lena and I are now running solo
too. By the time you read this, well be ing team!) Watson) for providing invaluable assis- with the dogs and horse. Olivia (20)
well into the winter season here in the Marty Fleischmann, one of our tance in helping me land this new and Johnnie (18) are both Ducks at the
Northeast. Our 20th reunion took place cohorts serial entrepreneurs, is CEO position despite the fact that we hadnt University of Oregon and Im still with
back in May. Hard to believe that was of Farrago Comics in Atlanta. If you spoken since graduation. Michael, you Hewlett Packard where I run a large
months ago already, but, then again, I havent seen Farrago yet, it is an are a true gentleman. portion of the cloud business unit.
cant really wrap my head around the extremely cool comic book app that Im happy to report that I married As for me, I decided to stop working
concept that its been 20 years since provides an independent platform for my childhood sweetheart in 1996 and at Opel and am enjoying time doing
graduation. comic book creators. They have some she hasnt shown me to the door (yet). all the things I have wanted to do for
We had a great showing from our seriously amazing and creative artists We have two amazing boys, Thomas years, but never had the chance.
cohort. I hope to see more of you and authors in there, and its truly (10) and James (9). Ive seen a few of Take Care!
(especially East Coasters whats your beautiful. I recommend you download our classmates from time to time, Joe Jenny
excuse?) at our 25th! I was only there it right now! Dougherty lives in NJ with his 3 beauti-
for a small portion of the weekend Other sightings and hearings: I saw ful children, hes running Hi Yield Sales b COHORT REP | Jennifer Harker
and didnt get to talk to everyone but Steve Levy earlier this year and can at RBC in NY. Doug Ross is in NYC jenniferharker@hotmail.com
did manage to see or talk to: Annie report that he and Susan are doing and recently started a new position as c COHORT REP | Anna Lewicky
(Thomas) Larino; Dan Joseph; Scott well. Ephraim Fields and Margot COO of a successful HF. anna.lewicky@gmail.com
Mataya; Gui Catta-Preta; J.J. Boom- Levin are each my neighbor here in Mike Mechum: My wife Solange e COHORT REPS | Nancy Park Casey,
Wichers; Paul Michowicz; Marty New York City, and its great bumping and I celebrated our 25th wedding and Paula Cacossa
Fleischmann; Raghu Krishnaiah and into them from time to time. Michael anniversary in July with a two week nancy.casey@sap.com; pcacossa@gmail.
Min Min Tun. Im also pretty sure I Hafner is not my neighbor in London trip to Turkey where we randomly ran com
saw Patrick Perret but somehow the but writes in that everything is well in into WG95 classmate Craig Enenstein Cheers BIG Es! Your gal Nancy
evening slipped by, and we didnt get the Kingdom. Have I missed anyone? and his wife Carolyn at a rug bazaar here..get ready for the 20th reunion
to talk. (Let us not repeat that mistake If so, please let me know or reach out in Cappadociaa total small world as we have a championship to protect!
next time, Patrick!) Of course, there when you pass through NYC. story! We have two grown sons and HUGE shout out to Craig for all the
were old friends from other cohorts, college grads whom are employed at efforts and keeping us on the leader-
too numerous to list here. WG95 CLASS CORRESPONDENTS Deloitte & Touche in LA and CBRE board. Stay in touch, let me know if
Apart from the reunion, weve also Jeanne McPhillips in Seattle, respectively. I will duly you want to be on Team Reunion! Still
heard from other friends around the supergirl119@gmail.com advise if /when these two millenni- out here in Scottsdale living the dream.
States and around the globe: Scott a COHORT REP | Zach Abrams als out of central casting opt to cut From time to time I get to NYC and
and Jennifer (Jurcazak WG95) Pierce zabrams@stratimpartners.com their proverbial umbilical cords and see folks like Jeanne McPhillips Dolan
continue to call Cary, N.C., their Ken Ujiie: (from Tokyo) He visited give the old man a raise! :-) On the and such. I miss the East Coast but I
home along with daughters Annie (15), the US with his family and went to career front, I have been with Google am addicted to the sunshine. All the
Maggie (13) and Abby (10) and dogs Washington, D.C., Philadelphia (vis- for over nine years, and have spent the best, Nancy
Soldier (old) and Fenway (young). iting the University of Pennsylvania last four years in Latin America in dif-
Aside from the normal challenges of of course!) and New York in March of ferent executive roles with YouTube. f COHORT REPS | Todd Rogers and
the rst child with a drivers permit last year. He enjoyed lunch with Alex We currently live in Sao Paulo and Vera Wu
and all 3 girls starting to want to stand Williams and his wife, Courtney in have been in touch with WG 95 class- todd.rogers.wg95@wharton.upenn.edu
within 20 feet of boys, Scott contin- New York. It was the rst time they got mates Marcio Rochwerger and Roberto and vera.wu@pfizer.com
ues to work for Pierpont Securities and together since graduation! Moraes, both of whom are doing well. g COHORT REP | Bob Townsend
is currently running the merger and Jon Robinson: I moved to Hong We hope to continue with expat gigs robert.townsend@bayerhealthcare.com
integration of Pierpont with Amherst Kong in 2003 to head up high yield over the next few years, making a living h COHORT REPS | Brian Owens and
Securitiesto be called, creatively and lev nance for DB in Asia. After and checking the life experience box in Jeanne McPhillips
enough, Amherst Pierpont Securities getting the whole casino nancing the process. breezybrian@hotmail.com and
(well done Wharton marketing gurus). craze going in Macau, I left to become Bob Lukfahr: I stayed at Booz supergirl119@gmail.com
Sorry to miss the reunion, and we hope a founding partner at a mezz PE fund for almost 10 years, became a partner Hello from London!
this nds everyone doing great things. in Asia in 2005. I left that position in in the energy practice, lived in UK We have had some great updates
this month. Many thanks for taking the curves getting back together for the more focus Im afraid. Re-ignited my
i COHORT REP | Amy (Crandall) Kaser
time to reach out and let us know what reunion. Stay tuned. Speaking of The amykaser@yahoo.com connections with Wharton this year
you are up to. Curves, ex-band member Jenn Dogg Amy is ready, willing and able to through the very well run and active
Sandeep Thakrar writes that he Lee Winssinger and hubby Frederick network with you Whartonites. She is Wharton Club of Indonesia and taking
completed his rst-ever triathlon in Winssinger were in town this past very generous with the love and would on doing the Cohort K news. Was
October. Well done ... never too late to month doing the college thing for Jess, love to help you guys in Boston. Reach pleased to hear news from a few cohort
start and very impressive! Sandeep also and we shared an afternoon delight- out and share. Thanks Amy! mates recently:
ventured up to NYC to see some of his ful glass of wine at Rock Center (after Bill Touhig is in (beautiful!) Boulder,
classmates in a happy hour organized shopping at Saks of course). Where CO, married to Brenda Goldstein
j COHORT REP | Cynthia Gris
by none other than Jeanne! They were are you, Autumn Besselman, Mike cgrise@deloitte.ca (Tuohig) WG96 with two girls, ages
joined by Martie dApice, Mike Levine, Hidalgo, Alex Williams and Steve It has been great to start hearing from 11 and 7. Hes building a new business
Sameer Mithal and Marc Vassanelli. It McLaughlin? classmates planning on attending our focused on bringing data & insights
must have been quite the party! Sameer is not the only Wharton 20th reunion. Duncan Martin checked to the Natural Products space in the
Ken Frieze writes with a number alum who knows how to host. Mikey in to say he will be in Philly in May. U.S. Bill and Brenda spend about half
of updates from Boston. First, he Levine showed me his amazing offices Otherwise Duncan reports, No news their weekends in Vail, Colo., skiing,
is now CEO of Gordon Brothers. in midtown where he is rocking the here: still at BCG, still in Risk, still in snowboarding, hiking and/or biking
Congratulations, Ken! He recently saw world with Payoneer as the CFO, chief London. Hopefully moving to new at depending on the season. We love
some of his old Wharton buddies in fabulous officer. Love how he is taking at end of November ... Colorado, but I certainly miss seeing
Washington, D.C., including Sandeep the call and hiring Wharton grads. On the other side of the world in the familiar faces of our group. If
Thakrar (he is everywhere!), Allen Way to go, Mike! Our illustrious cohort Australia, Andrew Goodman had anyone is in the area, I hope you will
Reed and John Saaty. Venturing B rep Nancy Park Casey invited me to some wonderful news. On 8 August reach out to say hi!
slightly further aeld to Dallas, he had an exclusive SAP bash on the rooftop of Cassie and I welcomed Zachary Claude My rst-year learning team-
a cool drink with Kevyn DeMartino. the Dream Hotel where we got to clink Goodman to the world. His older mate Mickey Brivic is living in
Between his new CEO responsibilities glasses with senior execs in retailmy brother Elliot (2.5 years) is enjoying Portland, Ore., married to Glen: We
and having 3 daughters under 5 years, fave. Thanks, Nancy! And a shout-out being a big brother, but somewhat dis- will be married 24 years this February
he is a busy man so we appreciate the to my teammate Gordon Robinson, for appointed that Zach doesnt yet share 2. Ground Hog Day, it just keeps
time to write to us! being my rst client with J.Hilburn, the his interest in trucks and trains. Cassie repeating itself. We have three kids:
Meanwhile, I had the pleasure of custom luxury menswear fashion line. and I are enjoying parenthood 2.0, Alex (16), Nicole (13) and Marin
attending not just one but two wed- He is living the dream now. Thanks, despite the lack of sleep. I hear you, (10). Little girls have tons of drama,
dings (civil and religious) for my old G! Fun fact: J.Hilburn is headed up by Andy. Same here! luckily I have Glen to lead the family.
room-mate and great friend, Doug two killer Wharton MBA alums, Veeral Finally, Ive been trading notes with Professionally, I am at a boutique
Rosefsky to his beautiful wife, Lea. Rathod WG14 (CEO/Founder) and fellow alum and Deloitte colleague investment manager, Tygh Capital
We were joined in Paris and Ravello by Larry Hagenbuch WG94 (COO ), and Steve Hateld who is based in New Management. We manage small cap
many from Wharton including Nicolas they are crushing the mens market. So York. I am thrilled to report that Steve growth for institutional clients. Just hit
Delcourt, Rob Herzog, Franck Noiret, get your groove on and check us out at: and long-time partner Patrick Riordan our 10 year anniversary, now shoot-
Robert Penn, Scott Surek and Vera http://jeannemariemcphillipsdolan.jhil- were married in September, after 16 ing for 20. Being from Texas, Oregon
Wu. What a great reunion and a won- burn.com. Because every man deserves years together! Way to go Steve! So is quite different. I like to sample all of
derful celebration. a stylist! incredibly happy for you both. the awesome restaurants, wineries and
As you know, the Wharton class The Reunion King, Craig Enenstein, Just as a reminder to our whole craft beer pubs.
of 1995 20th reunion is coming up called his court to order this past week class, I want the wedding photos, the And lastly for this update, Rolando
in the not too distant future! Please as we are ramping up for OUR 20th baby photos, and all your other inter- Furlong, currently living in Dubai with
make every effort to come and spend REUNION. Oh my where did the time esting pictures (Duncan, have you been his wife Aurore and their three chil-
some time and share some experi- go? Did we say 20 years? My, oh, my. in any tanks lately?) for the reunion dren: I am heading the Middle East &
ences with your Wharton and Cohort H What are we all going to do next slide show Im putting together. Send Turkey region for UTC Building and
friends and former classmates. There the big fade? So lets kick off the next them to me, Cynthia, anytime at Industrial Systems, some of our brands
are lots of committees and ways to get and best part of our lives the right cgrise@deloitte.ca are Carrier air conditioning, Otis eleva-
involved. Look out for pre-events in way, by celebrating our amazing class tors, Edwards re prevention systems
your local city and regions! at Reunion. We are already breaking and Lenel security systems. Still trying
k COHORT REP | Dan Davis
Until the next update! records; the sky is the limit people! danrdavis@yahoo.com to play tennis and soccer in my free
Brian + Jeanne ... with the latest Never fear, we are planning plenty of Hello from Sydney (as I write this time
from NYC. surprises for your enjoyment, so GET waiting to take off), Melbourne tomor- Reminder to all: Send me what
SUNSHINE Thakrars NYC bash ON BOARD! Join your local forces row and Manila (thankfully home!) youre up to, especially if you spend any
at M1-5 in Tribeca, hosted by our for the effort: Ken Iceman in Boston, on Friday. Crazy, right? I y more time in S.E. Asia as our paths could
very own Sameer Mithal, the owner! Caryn in NYC, Katie Fagan in the ights a year than the young ladies cross. Somewhat depressing reminder
How cool is he! With Michael Levine, Carolinas, Craig in L.A., and more to who are ight attendants on Singapore ;-) that its our 20 year reunion next
Martie DApice, Marc Vassanelli and follow. Airlines. Ambition is to decrease both year. Best regards, Michael!
yours truly. Trying to step off the mad Raise your glasses to Roger the number and the length of my ying
mommy track but in the meantime Hurwitz, leading the money at Volition time as the years go by l COHORT REP | James Liam Dolan
inuencing young minds globally both Capital in Boston and celebrating a Last few years, Ive been helping jldolan@yahoo.com
virtually and in the classroom for NYU. very special birthday this year on the build Partners In Performance, an
Dont be scared. Hopefully, my boy will Vineyard! Love you, Rog! operations implementation and turn- WG96
benet someday as he enters Tisch. We See you on Broadway, folks! Thanks around rm, from its base in Australia b COHORT REP | Mina (Takayanagi)
all can dream! for all of your sharesand likeskeep into new geographies and industries Martinez
Sumaiya Malik Wood the lovely on trukkin, KEEP RUNNING DOWN while spending as much time as I can Mina_martinez181@yahoo.com
bride continues to spread love in The THE DREAMS. with my wife Ruth in Manila. Growing e COHORT REP | Mai Hanlon
Bay Area. Warmest regards, the rm is going OK as we were 75 mai.hanlon@gmail.com
Drew Weddle and I are in talks Jeanne aka Dream when I joined and are now 350+. g COHORT REP | Lisa Jaouiche
about the infamous experience Spending time at home still needs a lot Greg Besners family foundation

hosted its third annual Willas Wish cohorth98@yahoo.com and writers and other content experts (blog-
CHENG
Foundation Cocktails for a Cure in gsnass@hotmail.com gers, marketing writers, etc.). By night,
NYC to raise money to help nd a cure i COHORT REP | Aimee Vincent she edits Work Stew, an online collec-
for Type 1 Diabetes. They hosted about Jamison tion of essays and interviews in which
200 guests including WG96 alumni Art aimeeajamison@yahoo.com people ponder their work lives.
Black, Erik Moore, Jeff Resnick and Jefferson Lilly and his lovely wife Katie
Brian Robertson. are pleased to announce the birth of WG99 CLASS CORRESPONDENT
Chris Boova continues to work at their sonAlistair Francis Robert Lilly. Lucy Carone Elliott
Columbia Asset Management, following The little man (that refers to Alistair, Lucy.carone.wg99@wharton.upenn.edu
public technology stocks. Chris and his not Jefferson!) recently celebrated a a COHORT REPS | James Fong and
wife Carrie live in New York City with cousins birthday luau-style with Elizabeth Kopple
their twin 7-year-old boys, Andrew and c COHORT REPS | Ruth Kirschner and Mom and Dad. Last year, Jefferson mbavet@gmail.com and ekopple@
Julie Wingerter co-founded a partnership to acquire gillman.biz
Matthew. Over the last several months,
kirschnerruth@yahoo.com and mobile home parks and is actively Kevin OKane got married at the end
Chris visited with classmates: Victor
Julie.wingerter@gmail.com raising money from individuals looking of May 2014 to Sandy Kuo WG03 in
Prince, Scott Baratta, Deb Klein, Rob
Davis, Caroline Curry, Mai Yuen, Kari d COHORT REP | Kent Laber for superior risk-adjusted returns Sonoma, CA. Sam and Sara Schwerin
kentlaber@gmail.com (www.ParkStreetPartners.net). He and Steve Braskamp also attended.
Montanus and Steve Obsitnik.
Lisa (Sellards) Jaouiche and family e COHORT REP | Del Ross recently lunched with fellow WG98-ers This was followed by a lovely two week
del.ross@gmail.com Olaf Weckesser and Peter Marangu holiday in Bali. (See photo on P. 33.)
have moved again. Her husband,
Daniel, accepted a position with f COHORT REP | Kevin Kemmerer on a two week vacation to the Jersey
kevin.kemmerer.wg97@wharton.upenn.
Accenture to help jump start their new shore. b COHORT REPS | Blair Carnahan and
edu Anna Buckingham Gsanger
growth platform into strategy, speci-
cally in the energy sector. This meant g COHORT REP | Surindha Talwatte k COHORT REP | Eric Gerster blair_wg99@yahoo.com and
surindha@gmail.com bagsanger@yahoo.com
a move to Houston, TX, leaving their egerster@live.com
beloved South Carolina shore. On h COHORT REP | Linda Chandler Srikant Gokulnatha is back in start- c COHORT REPS | Kate Holdsworth
linda.chandler.wg97@wharton.upenn.edu up mode with Numerify. Srikant writes, Hammond and Lucy Carone Elliott
a bright note, it means Lisa may be
looking to jump back into the nine i COHORT REP | Paul Jackson We just raised our Series B with hammond_kate@hotmail.com and lucy.
pjackson@cedrusinvestments.com Sequoia as the lead. Jyotsna and I live carone.wg99@wharton.upenn.edu
to ve work world with all the new
opportunities in the energy sector and j COHORT REP | Troy Stevenson in Saratoga with our two daughters. Congratulations to Dan and Francesca
troyincalifornia@hotmail.com I met up with Dynanesh Patkar over Jahns on the birth of their daugh-
Houstons booming growth.
k COHORT REP | Linda Chandler the summer; Dynanesh was doing a ter, Austen Selmer Jahns, born August
linda.chandler.wg97@wharton.upenn.edu 28th, 2014, weighing in at 8 lbs 4 oz
h COHORT REP | Tucker Twitmyer summer program at the Stanford GSB.
ttwitmyer@enertechcapital.com l COHORT REP | Jeff Donosky Ted Ladd writes: After being part and 21 inches. Big brother, Ryan, 2 ,
jeff_donosky@hotmail.com of a smartwatch company that was sold is enjoying getting to know his new
WG97 CLASS CORRESPONDENT to Google, I am now teaching entre- little sister.
Linda Chandler CLASS OF 98 preneurship to MBAs at Hult in San Tom Treanor reports from
linda.chandler.wg97@wharton.upenn.edu CALLING ALL VOLUNTEERS! Francisco as I nish my PhD, commut- Burlingame, Calif., just south of San
Tong Zhao reports: I have been with Are you interested in becoming your ing from Jackson Hole. Laura Hewitt Francisco, that he is enjoying being
the RAND Corporation for more than Class Correspondent? Contact: Ladd continues her real estate consult- director of content marketing at Wrike.
ve years and live in Santa Monica with classnotes@wharton.upenn.edu ing rm and is the chairwoman of the com, a project management and col-
husband Yufeng and our two daugh- Wyoming Retirement System. So far, laboration SaaS company. His wife
ters Kelly (10) and Kristina (7). I look only Gwyn Hampton has consistently Audrey is running her successful res-
forward to reconnecting with fellow
WG98 discovered the Ladd guest room during idential architecture rm. Daughters
classmates in the Southern California a COHORT REP | Mark Wenger ski season, but others are welcome! Sophie (12) and Chloe (10) are both
mark.wenger.wg98@wharton.upenn.edu appearing in different productions this
area or anywhere else. For those of
you who are golfers, Id like to share a c COHORT REP | Elisabeth Socolow l COHORT REP | Kate Gace Walton winter (including one in SF Ballets
elisabeth.socolow@gmail.com production).
piece of personal golf news. My daugh- kate@workstew.com
ter Kelly Xu won the Girls 9-and-under d COHORT REP | Stephanie Wong Gopi Kallayil continues to connect
stephanie.wong.wg98@wharton.upenn.
division last April in the inaugural drive, with classmates far and wide! He d COHORT REPS | Elisabeth Burghardt
edu wrote: Mitch Brown and I met on the Bartel and Natalie Ellis
Chip and Putt Championship and is
Cornelia Cheng participated on a Google campus to do some yoga and elisabethbartel@mnet-mail.de and
the rst female champion crowned at
career and life panel for high school meditation. Gopi also wrote that he natalie_ellis@yahoo.com
Augusta National Golf Club.
girls in Los Angeles hosted by met up with Keizo Tsutsui, an impor- Charles Rutstein started a new job
In December 2014, Scott Lenet
GenHeration, a non-prot startup and tant customer of Google in Japan. So this year as CEO at RISI, the leading
launched Touchdown Ventures, a
2014 winner of funding from Wharton I hosted him and took good care of supplier of data and intelligence to
venture capital rm that partners with
Ventures. GenHeration is founded by him! the global forest products market. He
leading corporations to establish and
current Wharton senior Katlyn Grasso John Tourtelotte wrote: I had a writes, Its a fantastic business with
manage their venture capital platforms.
W15 focused on empowering girls. Her great visit to the Bay Area in June and tremendous potential that were just
Scotts co-founders are David Horowitz
rst event in Los Angeles attracted was able to see Wilf Martis and Dave beginning to tap. Ive also had the for-
and Richard Grant WG08, who both
a full house and was a hit for all the Karel. Congrats to Dave Karel for the tunate opportunity to join the boards of
were previously investors at Comcast
girls who came (see above photo, from acquisition of his company, Bizo, by a handful of private equity and venture-
Ventures.
left: Katlyn Grasso, Cornelia and LinkedIn in July! Also, a shoutout to backed rms, a great way to get insight
GenHeration team member). What an into how other companies handle
a COHORT REPS | Pamela Friedmann inspiration!
Wilf Martis for his successful launch of
and Sallie Smalley Beason Chariotz, an online community for car similar challenges! Charles and his
pamela.friedmann.wg97@wharton. enthusiasts. wife have two children, Jacob, age 14,
upenn.edu and sbeason82@hotmail.com f COHORT REP | Greg Montana Kate Gace Walton continues to and Claire, age 12.
gregorymontana@hotmail.com Natalie Ellis is the GM of the
b COHORT REP | Tip Kim work as the general nanager of Steyer
t_kim@lek.com h COHORT REPS | Robin (Pulis) Carney Associates, a Seattle-based staff- womens banners for Foot Locker Inc.
and Scott Nass ing rm focused on placing technical The business includes 230 Lady Foot
JAHNS with Keala, 9, and Kai, 6. The Smiths

WILLIAMS
are in Providence, RI, with their kids
Mateo, 10, and Catalina, 7.
l COHORT REPS | Andrew Yoon and

Lisa Brichta Tretler
ayoonjk@gmail.com and
ljtretler@optonline.net
Please check our new website. (http://

2000s
KALLAYIL & TSUTSUI www.icla.jp/) WG00 CLASS CORRESPONDENT
And I, Geoffrey Williams and my Wendy Bagdi
Locker stores as well as a new premium Goldberg with many of the same wife are proud to announce the birth of wendy.bagdi.wg00@wharton.upenn.edu
womens athletic retail concept, friends gathered. Allisons wedding pic our twin daughters, Margot and Lucia, b COHORT REP | Steve Stagg
SIX:02, a fast-growing startup with is included below. born September 29th. Everybodys Stephen.stagg@regions.com
12 stores and digital business (www. doing well, although their older brother, c COHORT REPS | Mandy (Scheps)
six02.com). She lives in Manhattan i COHORT REP | Geoffrey Williams Matthias, is still a little shocked by the Pekin and Idris Mohammed
with her husband, Bipin Manuel, and geoffreyfw@yahoo.com arrivals. mandy.pekin@gmail.com and
their two little girls (running and Seth Kessler writes, After 15 years idris.mohammed@comcast.net
actively growing into future SIX:02 Looks like its the season for Cohort
living in Manhattan, we decided it was j COHORT REP | William Baird
customers!). time for a change of scenery. We dis- wbaird@ptcbio.com Cers to enjoy a bit of a breather. After
tracted the kids by taking them on a k COHORT REP | Jay Remington more than ve years heading up mar-
e COHORT REP | Marissa Peters fantastic three week vacation to the james_fremington@hotmail.com keting at GrubHub, I (Mandy Scheps
Cherian Mediterranean this summer, and the Elena Lytkina and Ruth Manfredi Pekin) resigned. It was a tough deci-
marissa.cherian@accenture.com intent was to then move directly into had a FANTASTIC weekend in Rome sion, but I really loved it when we were
f COHORT REPS | Sandra Juhn our new home in Bethesda, Maryland.... together (photo at the Coliseum). Elena in the small, scrappy, entrepreneurial
Schubert and Jen Cahill except the house wasnt ready. Its still has a very successful career at man- startup phase, and GrubHub is officially
sandraschubert@gmail.com and not ready, and its now looking like a agement assessment rm GH Smart, no longer a startup!! Im taking a few
jencahill7@aol.com 2015 move-in date. I like the new locale, advising CEOs and PE clients and months off before I start to search for a
g COHORT REPS | Fawad Sakariya and but Im pretty sure Ill love it a whole needed to be in Rome for client board new startup opportunity, and Im thor-
Dan McCone lot more once we are no longer living in meeting so we took advantage of the oughly enjoying the time off. I highly
fawad.zakariya@sap.com and a temporary Manhattan-esque apart- situation! Both of us left husbands and recommend taking a break between
djmckone@yahoo.com ment with everything we own piled up children at home and just wandered jobs. On the personal front, Billy and I
h COHORT REP | Allison Stark in it. Stay tuned for the open house around Rome all weekend, talking, are still in Chicago with our two kids,
stark_allison@yahoo.com invitation for the many Wharton folks shopping and eating. Obviously, this Jordyn and Reece (ages 8 and 6). Let
Allison Stark celebrated her wedding who live nearby. Turns out you actually was like a mini-vacation. We talked us know if youre ever in town!
to Darin Billig on September 6, 2014 in need a house to have people come to about the need to do a mini-reunions Rocky Motwani is also enjoy-
Tribeca, NY, amongst loving family and an open house. I guess I didnt learn for our learning team and Cohort. If ing some time off. He writes, After 9
friends including Whartonites Jennifer that concept at Wharton. anyone is in Washington, D.C., look up years at JPMorgan with the last three
Goldberg, Alison Keiller Hagan, Ryosuke (Reo) Watanabe shares, Elena; anyone coming to Italy look up years running a payments product, Ive
Wendy Huang, Samantha Boulukos, I am based in Boston with my family, Ruth! decided to take the leap from JPMorgan
Dan Weiner, Cathy Muller Fletcher, and am now engaged in building a Peter Schubert shared that he and and nd something a bit more entre-
Sharon Parsons, Alissa Lash, Julie new international college of liberal wife Sandra (Juhn) Schubert met up preneurial. Taking a bit of time to smell
Saffer Schiffman, Sharon Molinoff arts in Yamanashi, Japan. I am mainly with Sandra (Rehm) Smith and Jeff the roses and then Im looking forward
Sevrens, Susie Strassler Moskowitz in charge of forming a partnership of Smith with their kids in Valencia this to the next step.
and Ethan Klemperer. Three weeks student and faculty exchange with uni- summer where they spent some time In April, Lucy Martinez gave birth
later, she had the honor of being a versities in the world and recruiting together in the city and at the beach. to her second baby, MaryAgnes, and
bridesmaid at the wedding of Jennifer high school students outside Japan. The Schuberts live in Bronxville, N.Y, is now a part of the two under two
club. She writes, I thought my sleep-
deprived clubbing days were long over
STARK
but alas. On the work front, I am still
in the non-prot arena, heading up the
1,000 Daysan initiative started by
former U.S. Secretary of State Hillary
Rodham Clinton to bring greater global
attention to the problem of malnutri-
tion. Ironically, the focus of my work
is nutrition for mothers and babiesin
the 1,000 days from pregnancy to age
twoso I have been living my work. I
joined 1,000 Days when it was a startup
back in 2011, and we are on the verge
of an IPO next year in that there are
a lot of exciting opportunities ahead
to raise the prole of the issue. In

has denitely been an adjustment, but for the most
MANFREDI & LYTKINA part, things are going very well. Our two daughters,
Casey (10) and Alex (7), are doing great in their new
schools. They continue to enjoy gure skating but
have added soccer and lacrosse over the past year.
Tara and I got back into hiking over the summer,
summiting six mountains, including Mt. Washington.
Wed love to hear from any fellow Whartonites in the
Boston and southern NH region.
Ben Cheung wants to report that after spend-
ing the last eight years at startups like VMware
and Jive Software through their IPO, I started my
own company called Genee. We use articial intelli-
gence to give everyone an administrative assistant
to help them book meetings. Busy classmates with
lots of meetings can check us out at: www.genee.me/
landing.
September, I spoke as part of a panel at CGI (Clinton
c COHORT REPS | J. Cooper Abbott and Clifton Yen
SAVE
Global Initiative) on the issue of malnutrition and
food systems, and I am gearing up for more speaking
j.cooper.abbott.wg01@wharton.upenn.edu and
gigs in the coming months. Needless to say, I love my
clifton.yen.wg01@wharton.upenn.edu
job and feel really lucky to be doing what I do! d COHORT REP | Sampriti Ganguli
sampritig@hotmail.com
d COHORT REP | Wendy Bagdi e COHORT REP | Ruth Golan

wendy.bagdi.wg00@wharton.upenn.edu
h COHORT REP | Art Buckler
art@buckler.net
j COHORT REP | Jamie Parks Moyer
ruth.golan.wg01@wharton.upenn.edu
f COHORT REPS | Vishal Sharma and Chelsea Vaughn
vishal.sharma.wg01@wharton.upenn.edu and
chelsea.vaughn.wg01@wharton.upenn.edu
g COHORT REP | Alec Campbell
THE
DATE
jamie.moyer@comcast.net
alecdcampbell@yahoo.com
l COHORT REP | Christian Tate
christian.m.tate@gmail.com h COHORT REP | Alison R. Stroh
Bill Baker writes: Im still living in Paris and just
astroh@montefiore.org
Edward Leigh and his wife Christine welcomed
started our second year. Now, Im doing consult-
their rst child on July 7, 2014. His name is Isaac
ing work with most of my time committed to an
Maxwell. Ed shared, I am in my 10th year at Equity
energy private equity rm and their new direct invest-
Residential where I am a VP of operations. My wife
ments in the renewable energy supply chain, as well
is a forensic scientist for the Illinois State Police, and
some oversight of a portfolio company in Europe
doing global solar development. Increasingly, my
we live in Chicago. We hope to hear from any class-
mates who are passing through Chicago. ... I recently
May 1516, 2015
work seems to be emerging markets focused, and I
had a chance to get together with old buddies Ivan
am now working on a longer term strategy involv-
Parra and Beny Rubenstein while they were in town.
ing Africa. I denitely enjoy the exibility of working
Pictured are Ed and his son Isaac on the next page.
when and where I want to, so hoping to keep the con-
sulting torch lit for a while longer. Looking forward Register Now!
to seeing Bond, Schafer, Clack and Pavel next week j COHORT REP | Paul Sternlieb
in the Carolinas for what is, I believe, our 16th annual
Paul.Sternlieb.wg01@wharton.upenn.edu
Allison Catalano shared that she and her family thor-
Discount code: Reunion2015
Lauder golf weekend and a catch up with the Tarnos
in Paris in mid-November. Give a holler if you pass
oughly enjoyed their three years in Ankara, Turkey, November 15, 2014-February 15, 2015
and they are now living outside Denver, enjoying
through Paris.
skiing, hiking, camping and generally spending time
Raj Agarwal writes, Im still at the FDIC in dis-
in the great outdoors. Allison writes, Now that all my
tressed / special asset management. My oldest, who
kids are in school, Im pursuing a PhD in corporate
was born during school, just started high school. Feel
sustainability, getting back to my undergraduate roots
free to stop by if you are passing through Dallas.
in environmental geology. Id love to talk to anyone
who works in this area.
WG01 Chris Nelson and Johanna Honeyeld moved
b COHORT REP | James Fields and Sujata Bhatia to Tokyo in 2014, after four years in Singapore and
jameswfields@yahoo.com and snbhatia@yahoo.com
two in Ireland. Jo is continuing her work for Diageo,
Rob McCarthy shares that he is moving to Boston
and Chris is consulting to technology rms in Japan.
with Stifel. He and his wife have two daughters now,
What little spare time they have is spent with their
Eleanor, born in February 2013, and Frances, born
3-year-old son, Casey, who certainly keeps them busy,
this past February, and that he would love to recon-
and Chriss comical attempt to learn the Japanese
nect with anyone in Boston.
language.
Tara and Tom Benson relocated to Bedford, N.H.,
a little over a year ago. Tom now works as the Sr.
VP of corporate strategy for CAMP Systems (www. i COHORT REP | Dave Stromfeld
campsystems.com) in Merrimack. CAMP provides
stromfeld@yahoo.com
information services to the business aviation indus- k COHORT REPS | Amy Peterson and Jenny Cobleigh
try. The new role is different and challenging but
mapetey2000@yahoo.com and jacobleigh@yahoo.com
Alright, alright, alright Cohort K! I recently caught
certainly rewarding. The move from New Jersey
For more information
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360
Development Corporation (JJDC) year (after the company was sold to

LEIGH WEIR
managing biotechnology and diag- Campbell Soup Company). It was an
nostics venture investments across amazing and intense experience to help
JJDCs six offices. He now works out build a company from start-up mode
of the J&J Innovation Center in Menlo to exit, and she is thrilled to consulting
Park. Folks are welcome to visit their for small start-ups, while enjoying the
offices; they throw some great parties extra time with her family and friends.
as some WG03 classmates can attest.
Asish, Ann, Tanya and Neil reside in f COHORT REP | Sara Kleinberg
Los Altos and look forward to catch- sbkleinberg@gmail.com
ing up with classmates in the Bay Eric Grimes is nally feeling settled
Area. in NYC and is looking forward to the
Tarek Mansour and his family arrival of a second child in February.
moved from Montreal to Dubai last He loves seeing old cohort mates and
year, after 10 years in Montreal. Tarek Lauderites, so lets all get together
says, This is partly a continuation more!
Steve Lin along with his wife Cynthia of my journey with McKinsey and
up with the one and only Jason
Santamaria. Jason is at Stanley Black and two daughters, Bella and Autumn partly an adventure for the family dis- h COHORT REP | Gladys Chen
(6 and 1), have moved to Denver, covering a new part of the world. We Gchen14@gmail.com
& Decker in Connecticut, now in
CO, from Dublin, OH. He started are beginning to familiarize ourselves Greetings from Cohort H! Im enjoying
charge of the healthcare business.
working for a new company (Gates with our new home. If you are ever my new role at Ethicon, a J&J company,
He says its a challenging, sometimes
Corporation, headquartered in Denver) in Dubai or close, let us know, would and excited to launch a new product in
stressful and often an exhilarating
in September of this year after having love to see you. the medical device arena. My husband,
role that has him traveling quite a bit.
spent the past 10 years with Cardinal Laura Bennett reports that she is Theo, recently started a new venture
However, its more likely that its his
Health. They are loving Denver so far well and that her girls are now 10 and by opening up a daycare center in
adorable children, Michael, 6, and
and looking forward to catching up 8, providing endless amusement, love Brooklyn, NY.
Suzanne, 4, that keep him the busiest!
with other Whartonites around town. and fun. Embrace continues to grow Onne Ganel writes, My wife,
Thanks for the update Jason! Whos
Ana Kono has moved to Miami nicely. This year they added GEICO, Jessica, and I recently welcomed our
next?
and started her marketing PhD. So if Allstate and USAA as strategic part- son, Jonathan Ganel, to our expand-
Lastly, Cohort K, if you are not
anyone has marketing research ques- ners, which has been amazing. They ing family. Eila and Addy are thrilled to
getting our reminder emails, please
tions, she is all ears! And if anyone had to move to new offices to accom- be big sisters to baby Jojo. I am still at
send one of the reps your email
is in town visiting, Ana would love to modate their growth, and they are Omnicell in business development and
address, and well get you back on the
meet up with them. now up to 60 Embracers as they enjoy hanging out with fellow SF-based
distribution list!
After two and a half years at Reuters like to call themselves. If anyone is classmates from time to time, when the
as the global head of marketing and in Cleveland, please drop in and say kids allow us a breather.
l COHORT REP | Jeff Schlosser hello. They have a kegerator! Shruti (Rishi Kahlon) left consult-
jschlosser72@gmail.com about 15 years in corporate media,
Emily Moyer made the long-contem- Adar Greenshpon says, Hard to ing earlier this year to join Firmenich
believe how time ies as our Philly- to lead the pricing function for their
WG02 CLASS CORRESPONDENT plated switch to non-prot, managing
born daughters are already speaking Flavors division. She loves getting
Annie C. Lee the web development, CRM, and mar-
keting teams as VP, marketing and about their bat-mitzvah trip. Noa and home every evening to be with her two
annie_c_lee@yahoo.com
digital strategy at the Michael J. Fox our youngest are also super. Life is daughters and husband and is looking
a COHORT REP | Annie C. Lee super hectic with Fast Simon, the forward to another colorful fall season
annie_c_lee@yahoo.com Foundation. She reports, Im really
enjoying it! Would love to reconnect software-as-a-service search startup in Princeton.
b COHORT REP | Chris Simpkins weve been building and already Evan Fieldston and his wife,
Christopher.Simpkins.WG02@wharton. with fellow alumni living in and trav-
eling to NYC, as well as those doing serving close to 100k siteswww.fast- Gabriela, have two sons: Nathan, 2
uepnn.edu
similar work in the non-prot industry. simon.com years old, and Eli, just born in August.
c COHORT REP | Sandra Shpilberg Takuro Ueji reports, Lots of Evan was recently appointed to the
sandra.shpilberg@gmail.com My best to all!
Ike Eze decided to move back to travels to Asia but havent have an role of medical director of clinical oper-
e COHORT REP | Barat Dickman honor to visit the States in the last ations at the Childrens Hospital of
barat_dickman@yahoo.com Lagos, Nigeria, to assist a private
equity rm with a portfolio company. two years. Akiko, Shuntaro (5) and Philadelphia, and he is also a faculty
g COHORT REP | Francesca Migliori I are doing great, and were expect- member in the department of pedi-
francesca.migliori.wh02@wharton. He reports that things are great.
Yvy and the three kids moved this ing another boy in December. I have atrics at the Perelman School of
upenn.edu
month and are enjoying it. It seems all to postpone my retirement. Look Medicine at Penn. From time to time,
h COHORT REP | Rick Modi forward to seeing everyone at the he gets to collaborate with Wharton
Rick.Modi.wg02@wharton.upenn.edu Nigerian 03s are back in the country
with the exception of two, who are Tokyo Olympic in 2020. faculty or mentor students, which is
j COHORT REP | AnnMarie Peterman Jean Lee ran the Nike Womens a great opportunity and a fun way to
annmarie.peterman.wg02@wharton. planning on joining us soon.
Half Marathon in San Francisco stay connected to the school and the
upenn.edu
d COHORT REP | Sangita Forth this weekend, and she received the HCMG program.
l COHORT REP | Jenise Tate sforth@gmail.com tiffany necklace to boot (no remen in
Jtate320@gmail.com
Amelia Weir welcomed a baby girl, tuxedo though). Kids are great, ages i COHORT REP | Stanley Huang
9, 7 and 4. They like to take turns stanleyhuangwg03@yahoo.com
WG03 CLASS CORRESPONDENT Isabel Farley Cundiff, on June 16. She
Carter Mayfield is thrilled, to state the obvious, and rolling over my back to give me free j COHORT REP | Vinay Gupta
everyone has been happy and healthy massages when I get home. vigupt@msn.com
Carter.Mayfield.wg03@wharton.upenn.
thus far. Sangita Forth and Aaron Forth are Kyle Beaird, who received his MBA
edu
Asish Xavier relocated to the enjoying life in San Francisco with from the Wharton School in 2003, has
b COHORT REP | Viru Raparthi their three kids: Ashna (8), Kiran been working with Hillerich & Bradsby
Viru.Raparthi@marvcapital.com Bay Area from New Brunswick,
NJ, in June 2013, where he contin- (5) and Anjali (1.5). She left Plum Co., since 2012, as director of nancial
c COHORT REP | Raza Hasnani Organics in the beginning of the planning and analysis. He has recently
Raza.Hasnani.wg03@wharton.upenn.edu ues to work with Johnson & Johnson

Diego. Zack is thrilled about his prospects for a life-
BEAIRD
time of love and perfect skin.

Rodney Gibson
rodney.gibson.wg06@wharton.upenn.edu
d COHORT
Chris Pella writes: A very Whartonite end of
summer for me. Sabrina and I spent our holidays
in California, where we met Brian Cabezud, Joe
Kewish, Tom Balamaci and MK OConnell. We
caught a glimpse of the start-up scene, tasted impres-
sive vegan cuisine and received very useful advice
about raising children. (The latter goes to my Word
le Parenthood, obviously.) In September I was
happy to show Jake Miller a sunny Hoxton Square
during his business trip to London. Lastly, in early
October I formally proposed to Sabrina. We cele-
brated the engagement in Paris and Stephane Girard
treated us to some champagne at his great wine bar,
MBA REUNION
been promoted to VP of nance. Prior to joining
H&B, Beaird served as an investment banker with
Legg Mason as well as FBR & Co. in Washington,
Wine By One.
h COHORT
WEEKEND
D.C. He also served as an investment banker with Congratulations to Shiva Rajaraman on joining
KeyBanc Capital Markets in Denver.
k COHORT REP | Claudia Wilderman

wildermc@wharton.upenn.edu
Spotify as VP, product. While the career move is
exciting, the personal move is bigger: moving to
Stockholm (with cats)! We are a bit concerned as
to how Shiva will survive the winter, given he was
already hating the cold at the end of September.
CHECKLIST
WG04 CLASS CORRESPONDENT Congratulations as well to Sang Lee on his new
Santosh Kookal
santoshk@iitbombay.org and WG04classnotes@gmail.
role at GIC asset management. Last November, Sang
transitioned from public market investing to the
Register early for
com funds allocation group. In mid August, he became
(Please send all submissions to both of Santoshs email
addresses)
head of equities (for funds allocation). Sang works on 20% Discount.
both Long Only and Hedge Funds.
a COHORT REP | Santosh Kookal

Esti Schabelman reports that everything is good
in Baltimore. Esti and family just moved to the
Update your contact
WG04classnotes@gmail.com suburbs half way to DC ... and baby Maia turned 1
Santoshk@iitbombay.org two weeks ago. information.
c COHORT REP | Rishi Jain
rishi.a.jain@gmail.com
d COHORT REP | Neel Bhatia
b COHORT REP | Ajay Bijoor
ajay.bijoor.wg06@wharton.upenn.edu
Plan Your Trip!
neel.bhatia@gmail.com
c COHORT
f COHORT REP | Erica Seidel d COHORT REP | Rodney Gibson
Erica@ericaseidel.com
g COHORT REP | Anjana Nigam
rodney.gibson.wg06@wharton.upenn.edu
f COHORT REP | Lee Work Register Now!
anjanan@wharton.upenn.edu or whartonalum@gmail. lee.a.work@gmail.com
com
l COHORT REP | Jonathan Bebo
g COHORT REP | Townsend Baldwin Discount Code: Reunion2015
tbaldwin@stockwisecapital.com
jonathan.bebo@gmail.com
h COHORT REP | Katherine Cary November 15, 2014-February 15, 2015
katherinecary@gmail.com
i COHORT REP | Oliver Chen
Courtney Hischier de Balmann oliver.chen@citi.com
Courtney.hischier.wg05@wharton.upenn.edu
Yana Watson Kakar was elected global managing
j COHORT REP | Jay Cecil
Jay.cecil@yahoo.com
partner of Dalberg, a strategy and investment advi-
sory rm focused in emerging and frontier markets.
k COHORT REP | Arif Janmohamed
arif.janmohamed.wg06@wharton.upenn.edu
She now leads the rms activities across 13 offices, Many congratulations to Beth Kronfeld whose family
bouncing back and forth to Africa and Asia, while just grew in size. She welcomed Colton Michael
spending as much time as possible with her husband, Means on August 21, 2014. She reports: At the
baby boy and dog at home in New York. moment hes happily snoring away. Gosh, those
Mike Mortellaro was promoted to chief operat- newborn sounds are cute. Hes happy and healthy,
ing officer at ZogSports, a recreational sports league and were enjoying all the new experiences and devel-
founded by Rob Herzog WG95. ZogSports runs char- opment that goes along with these rst few weeks.
ity-focused co-ed social leagues in NYC, NJ, DC, And Mazel Tov to Dov Daniel, who welcomed
Atlanta, LA and San Francisco and will be expanding Gavriella, a baby girl, on September 10th.
to Philly and Dallas in 2015. As always, look me up if you happen to be in the
In September, Zack Thompson married Hope Bay Area!
Thibodeaux, a dermatology PA, in Coronado, San For more information
MAIL: 344 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104-6360
KRONFELD FRIEDMAN WG08CLASS CORRESPONDENT

Humera Afzal
humera.afzal.wg08@wharton.upenn.edu
Zack Friedman, group executive vice
president and chief nancial officer of
Mina Group, was named Revolutionary
CFO of the Year at the seventh Annual
MENA CFO Awards, recognizing the
top business leaders in the Middle East.
Prior to joining Mina Group, Zack was a
hedge fund investor and invested across
multiple sectors, including nancial ser-
vices, real estate, energy, consumer and
healthcare.
After graduating in 2008, Sophie
DANIEL GOLD Anderson moved to New York to work
at Unilever and live the singles lifeonly
to meet her future husband, Laurent
Andre Vasilescu, a few months after her
move. Sophie and Laurent moved in
30, 2014 of their second daughter, with each other and married June 2011
Myra, with whom older sister, Taara, is in Brussels, where they are both origi-
already besotted. nally from. Sophie has been working at
Dean Chen and his wife, Hana, have American Express for the last four years
landed in Orange County, Southern as a senior manager in marketing, and
California, after bouncing from she had the opportunity to reconnect
Manhattan to Silicon Valley and West with her classmates and co-workers last
LA. Dean is leading the health tech year during the ve year reunion. Sophie
practice at Wind River, Intels Internet and her husband most recently wel-
l COHORT REP | Garron Hansen cohortmates Ivan Leal and Kate Tan, of Things software division, and Hana comed their rst child, Julien, on August
garronhansen@gmail.com as well as other classmates, to celebrate is joining a large law rm in the fall 5, and they are over the moon with him.
the wedding of Nicolas Zylberstein. after getting her JD from UCLA. Dean In December 2014, Richard Grant
WG07 CLASS CORRESPONDENT Nicolas became engaged last year in and Hanas son, Dean Ryan Chen, is launched Touchdown Ventures, a
Renos Savvides Jerusalem and was married on July 5, almost 2 years old now and is more fun venture capital rm that partners with
renos@alumni.upenn.edu 2014, to his lovely Czech wife, Pavlina, every day. Hes been given six months leading corporations to establish and
David Gold and Kelly Westphalen whom he met in Prague on a warm grace before Dean and Hana start him manage their venture capital platforms.
C02, SPP07 were married over Labor summer evening four years earlier. on those Penn applications! Dean has Richard founded the rm with David
Day weekend in Glen Ellen, California. After the two-day-long wedding fes- happily had the opportunity to meet Horowitz (who worked with Richard
Wharton was well represented, with tivities at the Prague castle and a up with fellow Cohort Cers Lawrence at Comcast Ventures) and Scott Lenet
guests including David Padrino, Adam mini-moon in Corsica, Nicolas has Park and Kurt Johnson while he was WG97 (co-founder and managing
Gerson, Eric Stone, Joe Spector, also decided to cross halfway around living in LA. Dean denitely wants to partner of DFJ Frontier).
Lindsey Mathews Padrino C02 the world to start their married life. know if any Cohort Cers and class- Nicholas Maestas has a family
WG11, Christopher Bennett, Sinead After four and a half years working mates are in Irvine/Newport Beach as update. His wife, Emily Maestas, and
Murphy Bennett, Jonathan Jewell, for The Walt Disney Company in Los he is looking forward to catching up he welcomed a healthy baby girl to
Brent Hooper, Brian Nash, Michele Angeles and London, he has jumped with them. We know that Jen Seo is their family, Elise Luciana Maestas, on
Cheowtirakul Braxton, Ahin Thomas, from old to new media to join YouTube there but newborns have to date pre- October 1, 2014.
Linda Drabik, Brian Jelenek, Bill Rock as a principal in their global business vented a meetup! Charles Njendus submission is
L08 WG08, Collin Blackburn WG11, operations & strategy team in San Curtis Lee married another Wharton that he was named as one of the top
Renos Savvides and Joe Herger. After Bruno, CA. GradJanet Souk WG11in May 2014 100 youngest and inuential economic
spending a few days post-wedding Kristin Darrow (nee Lutz) is in San Francisco. There were many leaders in Africa by the Paris Institut
relaxing in California, David and Kelly delighted to announce that Asher Wharton classmates in attendance. Choiseul. Details via this link to the full
are back in the New York, where they Judson Darrow was born on March 6th, Curtis has also now launched the report (position 59): http://choiseul.
live in the East Village. (PHOTO) 2014. He is also welcomed by father company he founded last year, Luxe info/site/wp-content/uploads/2014/09/
Krisa Mayglothing Park and Judd and big brother Bennett, with Valet. Luxe is a tech startup that is Choiseul-100-Africa-VA-BD.pdf.
Jeromie Park WG06 welcomed their Kristin now surrounded at home by doing valet parking on demand through Joy Wang says: Andrew Farris
second daughter, Sydney, in May. She three boys. Hot on these heels, Jared its app. Luxe is currently operating in WG08 and I welcomed our rst child (a
joins big sister, Campbell, who just Weiner is thrilled to share the news San Francisco but expanding elsewhere baby boy named Mark George Farris) on
turned 2. that Vanessa Kyla Weiner was born on soon. February 17, 2014. Were happily settled
Friday, April 11th, 2014. Jared is trying Meanwhile, Hassan El-Houry con- in Princeton, NJ, and welcome anyone to
a COHORT REP | John Vogiatjis and to gure out why such a small person tinues to go from strength to strength. drop us a note if they are in the area.
Shirin Ghadessy requires more gear than the average He has been named a Young Global Jenny Wilkinson and Mitch Salzberg
john.vogiatjis@gmail.com and football team. Leader by the World Economic Forum WG08 had a baby, Heidi, in February
sghadessy@gmail.com Siddharth Mundra and Anjali in Davos for 2014. 2014. They now have two kids, the other
c COHORT REP | Jon Adler Bhave recently moved to the Bay Area being their 3-year-old son, Hudson.
jonathan.adler.wg07@wharton.upenn. as Sid took on a role with Google (big e COHORT REP | Vikram Kapur Jenny stays at home with the kids
edu change from Wall Street!) investing in vikram.kapur.wg07@wharton.upenn.edu and claims that its her hardest job
Radhika Angara has been enjoying the renewable energy. Sid and Anjali were l COHORT REP | Jesse Sanders to date. Mitch left BCG recently and
bliss of vacation in Norway and joined also blessed with the arrival on June Jesse_s_sanders@yahoo.com

WILKINSON
CLASS OF 12 & 14 MBA for
CALLING ALL VOLUNTEERS!
It seems that your class is missing its
Executives
Correspondent. Are you interested?
Contact classnotes@wharton.upenn.
WG96 WEMBA
Leslie Golden
edu for more information.
Golden728@gmail.com
an awesome adventure, and Andrew WG99 WEMBA

Stewart came to visit during the World Steve Tuel
Cup! (Andrew claims Albert was a smtuel@gmail.com
superhost.)
Alex Perevalov now has a 2-year-old WG01 WEMBA EAST
son Daniel. He and the family moved Gowri Grewal
to the U.S. where his wife got an MBA gowri@alum.mit.edu
from Chicago Booth, and they now live Congratulations to Ena Williams
in Baltimore. Koschel who took on new respon-
Wendy Lius Teddy turned 1 last sibilities as senior vice president of
month and is walking/toddling around. international operations at 7-11 Inc. in
Teddy has been a big adjustment but September. Ena has been based out of
joined a smaller consulting rm called g COHORT REP | Alexander cool and exciting every day. The family the Dallas, TX, headquarters location
ghSMART, which is a management Athanassiou is happy in New York and plan to stay since 2013, after moving from southern
assessment rm. They live in Dallas, Alexander.athanassiou.wg09@wharton. for the foreseeable future. California.
TX. Note the picture of the family on upenn.edu Amy Cooper moved from NYC Best Wishes to Dan Powers, who
vacation in Florida. h COHORT REP | Christian Kellett to Burlington, Vt., where she started married Sally Winter on October 11th
Christian.kellett.wg09@wharton.upenn. working on new models in health care. in Westhampton Beach, N.Y. The
WG09 edu Amy and husband Taylor have two couple lives in Mountain View, Calif.,
a COHORT REP | Danica Griffith j COHORT REP | Rachel E. Brenner daughters, Kyla (3) and Julie (1), with where Dan works for Google, and Sally,
griffithdanica@yahoo.com rachel.brenner@gmail.com a third on the way in January. She a Thunderbird MBA, works for Visa.
Manpreet Singh, president of talklocal, i COHORT REP | Michele Luchejko welcomes any Cohort Fers who nd Gowri Grewal has joined Twilio, a
writes: Happy Holidays! talklocal michele.luchejko.wg09@wharton.upenn. themselves up her way to drop her a venture-backed cloud communications
is settling into our brand new HQ in edu line. platform provider in San Francisco.
College Park, MD, and loving our prox- l COHORT REP | Steve Lamb Vishwas Seshadri bought a home Tom Kaufman is nishing up his
imity to the university. Plus, theres Steve.lamb@gmail.com and moved to Bridgewater, N.J., last term as president of the American
Board and Brewan excellent coffee year. Anishka is 3 years and loves College of Real Estate Lawyers, an
shop thats been great for starting our WG10 CLASS CORRESPONDENTS attending Montessori school in invitation-only professional organiza-
engines in the morning, as well as Sarah Hershey and Emily Di Capua Finderne. Seshadri is in global mar- tion with over 1000 members.
helping us unwind over a game of cards sarah.hershey@gmail.com and keting at Celgene. He recently joined a Mark Turner reports that he caught
in the evening. Last but not least, were emily.dicapua@gmail.com Indian music band, Jersey Rhythms. up with Ed Moore over breakfast at the
also excited to welcome Paul Murskov, a COHORT REP | Michael Cogan Leeatt Rothschild and Micky Green Room at the Hotel DuPont in
our new VP of sales, on board. Our mlcogan@gmail.com Hervitz have been enjoying life in Wilmington in October. Mark, Ed and
national footprint jumped 37% in his b COHORT REP | Jordan Brehove Chicago since they moved there families are doing well. If anyone gets
rst month, so the VP is gunning for jbrehove@gmail.com two years ago. Leeatt works in to the Wilmington, Del., area, or is on
MVP this season. c COHORT REP | Emily Di Capua social impact consulting at Mission their way past it on Amtrak from or to
emily.dicapua@gmail.com Measurement. They hang out with Philadelphia, D.C. or NYC, Mark would
b COHORT REP | Hannah Peterson- d COHORT REP | Lauren Christman other WG10ers based in Chicago, be delighted to treat for a quick meal,
Mccoy lauren.christman@bain.com including Howard Levine and Adam drink and catch up.
hannah.peterson.mccoy@gmail.com f COHORT REP | Forest Schultz Birnbaum.
c COHORT REP | Jing Zhang g COHORT REP | Gareth Keane Lauren and Ben Rhea moved down WG02 WEMBA
Jing.zhang.wg09@wharton.upenn.edu h COHORT REP | Sarah Hershey to DC in April. After nishing her Ismail Dawood and Mary Gross
Meir Stein and his wife Rona are sarah.hershey@gmail.com Ph.D. in physics, Lauren got a job marygros@wharton.upenn.edu
excited to welcome their baby girl, Aya, i COHORT REP | Yuan Shu with Accenture Federal. Ben is still in izzy.dawood@bnymellon.com
who was born on July 27. Ayas sib- c COHORT REP | Carl Fowler the Life Sciences Strategy group at
lings, Uri (5) and Alona (2) are also carl.fowler.wg11@wharton.upenn.edu Accenture. WG04 WEMBA EAST
extremely happy with the new addition Judy Wu and Prem Nainani got Shari Wakiyama
to the family. Class of 2010, married last fall and currently live in shari.wakiyama.wg04@wharton.upenn.
Chioma Duru recently moved to We hope you are as excited as we are San Francisco. Judy works at Google, edu
Los Angeles. for our fth-year Reunion! Check the and Prem works at a hedge fund.
WG Class of 2010 Facebook site and Kathleen OBrien ran the NYC WG05 WEMBA/SF
d COHORT REP | Avery Cregan Reunion website for details (http:// Marathon in November in honor of Matt Myllykangas
Newcomb reunion-weekend.wharton.upenn.edu)! Brad Berman, who had a stroke at age Matthew.Myllykangas.Wg05@wharton.
avery.newcomb@gmail.com See you there! 37. The Burke Rehabilitation Center upenn.edu
e COHORT REP | Fito Waisburg Emily and Sarah team is raising money to help create a
awaisburg@gmail.com lower limb robotics program at Burke WG06 WEMBA EAST
f COHORT REP | Stephen Chu Albert Sara writes: Ive been living Rehab Center in White Plains, N.Y., Brian Egras
stephen.chu.wg09@wharton.upenn.edu in Rio de Janeiro for over a year which helps stroke patients improve brian.egras.wg06@wharton.upenn.edu
now. Im here on a foreign assign- their ability to walk. Aravind Immaneni was recently pro-
ment for Nissans Brazil HQ. Its been moted to head of store distribution
strategy & operations at TD Bank. In his new role,
Aravind will be responsible for store operations, pro-
ductivity, transformation, governance, control and
retail strategy for the banks 1300+ store network
update
from Maine to Florida.
WG07 WEMBA EAST

Saras Agarwal and Jessica Hatch
saras.agarwal.wg07@wharton.upenn.edu, jessica.
hatch@gmail.com
WG08 WEMBA EAST The Demands, and

w COHORT REP | John Mone
John.mone.wg08@wharton.upenn.edu Opportunities, of Continuous
WG09 WEMBA EAST
Utpal Bhatt Education
utpal.bhatt.wg09@wharton.upenn.edu
There was a time when those of us intent on
WG09 WEMBA/SF achieving success followed a very similar,
Cori Johnson and Stan Allen structured education and career model.
corinne.johnson.wg09@wharton.upenn.edu, We worked a couple of years after under-
stan.allen65@gmail.com grad and then took a couple of years off or
committed every weekend and summer to
WG10 WEMBA EAST obtain an MBA or other advanced degree.
Jennifer Houff Once that advanced degree was conferred,
jennifer.houff.wg10@wharton.upenn.edu we breathed a sigh of relief, went on to
build our careers and rarely looked back
WG10 WEMBA/SF at the schools that had trained us (other
Suki Toguchi than attending a sporting or alumni event).
Suki.toguchi@gmail.com School and career were sequential paths
This years annual class reunion (our 4th!) was held that did not intersect.
on Sunday, September 21 at Rinconada Park in Palo Technology and a global economy have
Alto. Over 60 attended including classmates, sig- turned that model upside down. Once a
nicant others and children. We had a great time derogatory term, professional student must now be the designation associated with
catching up and were elated to see classmates Harish any of us who wish to succeed, whether in the public or private sector, regardless of
Belur, Dan Paik (who traveled from Seattle to attend industry. The rate of innovation demands that we continually learn and stay construc-
the reunion), Herodia Allen (who recently gave tively dissatised during every phase of our career.
birth to her third child), and many others. We had Education must also change. Not everyone can take large blocks of time off every year
strong women representation including Irene Chen, to attend formal classroom programs in another stateor country. Lifelong learning to
Chanda Dani, Weiying Ding, Chi-hee Kim, Chloe gain new skills and achieve at new levels requires a exible, integrated model that com-
Ma, Shamitha Somashekar, Tina Todasco and Chloe prises formal and informal, group and individual opportunities. Education and career can
Ma. Many were chatting up business ventures and job no longer be sequential paths. They must converge in a continuum and enable individ-
changes including Stephen Lee, Fabrice Della Mea, uals and organizations to design programs to accommodate personal or organizational
Raghu Kodige and Brendon Wang. Others lamented needs and goals.
on how fast their kids have grown; David Garcia, As Wharton alumni, we have a unique advantage. Our University has made a commit-
Redmond Huen, Kartik Krishnamurthy, Anand ment to helping its graduates continue learning. It is also leading the worlds universities
Hariharan, Taeho Oh and Rangesh Raghavan. We in the development of adult learning programs that are not limited by geography or any
were happy to hear that Brendan Hogan and his wife, particular time commitment. Whether as informal as listening to SiriusXM Business
Katie, will be expecting their rst child before the new Radio Powered by the Wharton School, or as formal as the Advanced Management or
year. Although many missed the reunion, we have Executive Development programs, we as alumni have many avenues through which to
no doubt that we will see them at the annual holiday continue learning and honing our skills.
party hosted by Risha and Prasad Kilaru. I am grateful for the lessons and opportunities. Rarely a day goes by that I do not in
In August, Danny Sullivan and family moved to some way benet from my Wharton experienceeither through something I learned in
McKinney, Texas (a town just northeast of Dallas). the classroom, by reaching out to a former classmate or professor known for expertise in
Danny is now the VP, global gigital experience, at a particular area, or reading the newest articles on Knowledge@Wharton.
Pizza Hut, a division of Yum Brands, where he is I encourage all alumni to stay close to Whartons programs for continuous learning.
overseeing the user experience, marketing and ana- They are within your reach regardless of where you are in the world. The School uses
lytics for all its digital properties. Do let him know interactive learning technologies, research centers, Wharton Global Forums, podcasts
if you nd yourself passing thru DFW. Theyre and myriad methods to allow us to engage with and learn from Wharton faculty and
settling in there; closed on their house at the begin- alumni.
ning of October and are balancing unpacking with Contribute as well. Imagine the impact we can have when all 93,000 of us commit
purchasing. to using what technology affords to deliver innovation and improve business and lives
throughout the world.
WG13 WEMBA/SF
Anand Raghavan L. David Mounts, WG04
ranand@gmail.com
Chairman, Wharton Alumni Executive Board

The inspirational autobiography of
Jon M. Huntsman, SR.
One of the nest human beings,
industrialists and philanthropists on the planet.
STEPHEN R. COVEY, author of The 7 Habits of Highly Effective People
Jon Huntsman is
a different breed.
He believes business is a
creative endeavor, similar
to a theater production
wherein integrity must be
the central character.
LARRY KING
Everyone who knows

Jon Huntsman
is aware that he is
a man of
impeccable character
and decency.
PRESIDENT
GEORGE H. W. BUSH
Bestselling author JON M. HUNTSMAN, SR. recounts his made-in-America,

rags-to-riches entrepreneurial journey of risk, rewards, and tumult,
and shares the key moments that shaped his views of faith, family, leadership,
and his commitment to give away his entire fortune in the quest to cure cancer.
All author royalties from the book will be donated to Huntsman Cancer Institute.
The Overlook Press www.overlookpress.com

Trust
Issues
BY M I C H A E L J. O B R I E N I L LU S T R AT I O N S BY T I M B OW E R
At a time when Question: What do data and trust have in common?

Essentially, two things: Both can be difficult to retrieve
public condence in after theyve been lost. And the public places a lot of both in
a company like Google.
organizations is at
Earlier this year, the tech gianta mainstay on annual
most-trustworthy company lists but conspicuously absent
from any most-diverse-employer listsfaced an issue that
an all-time low, the revolved around the two topics: Activists demanded that
Google release its workforce demographics to the public.
challenges facing Technology is supposed to be about inclusion, but sadly,

patterns of exclusion remain the order of the day, wrote
Rev. Jesse Jackson in a widely publicized letter to Google,
a trustworthy Apple and other Silicon Valley powerhouses released during

the annual shareholders meeting season this past spring.
organization in a Googles employment records would paint an unattering

portrait of the otherwise progressive company, as well as
multistakeholder
potentially unleash some serious nancial repercussions that
would likely unsettle its various stakeholders.
In terms of data and trust, could Google release one
world are complex. without losing the other?

On May 28, 2014, Googles senior vice president of people
There is hope
operations, Laszlo Bock, posted workforce demographics
on the companys public blog, which showed that 70 percent
of Googles employees are men; 61 percent of its total
however. workforce is white; and only 35 percent are Asian, Hispanic

or African American.

When asked in a PBS NewsHour interview why Google
hadnt publicized the numbers until then, Bock said, Quite
frankly, because we knew we would not look good. And we
were worried about litigation.
Googles senior leadership came to realize, he added,
that the right thing to do would be to share this
information, because we have an issue. Our industry has
an issue. And the only way to have
an honest conversation about this
is to start by actually sharing
the facts.
Just like everything else the
company does, its turn toward
transparency sent ripples far
beyond the companys Mountain View,
California, campus, says Prasad Setty
WG99, Googles vice president of people
analytics and compensation. Setty oversees a
team that enables all people decisions at Google
to be data-driven and generates insights on
keeping Googlers happy and productive, a
position hes held since January 2011.
Since we have made that
information transparent,
Setty says, at least 15 peer
companies in the tech industry
have said, Oh, by the way,
here are our numbers, and
acknowledged the same issues.
And now we are starting an
industrywide dialogue about
what should we do collectively,
because no one company can solve this
problem on its own, he continues, noting
that Google intended to release the data
even before the activists demanded
it. Heres something we care about
deeply and are committed to xing this
in the future for however long it takes.

Were very active in
going beyond theory
to try and see if we can
make a difference. The Six Qualities of
Trustworthiness
The tone coming down from the top of an
Although, data suggest that such of Trustworthy Organizations at Fordham
organization isnt always what creates
efforts might take awhilein 2012, University.
just 12 percent of computer science Such a grim outlook should send a a trustworthy organization, says Robert
undergraduate degrees at major research clear message to those in power, Useem Hurley WG83, executive director of
universities went to women; in 1985, that says. Leaders of major institutions Fordham Universitys Consortium for
number was 37 percent, according to the religious groups, universities, community Trustworthy Organizations.
National Center for Women & Information organizations, foundations, hospitals Its behavior in the middle and
Technology. For its part, Google has been and business rmsshould all strive organizational systems that enable and
pouring money and resources into literally to restore public condence in their reinforce an active and conscious search
growing the next crop of diverse tech missions and operations. for doing what is right for all legitimate
workersfor instance, through ground- Hurley agrees. While skepticism seems
stakeholders, he explains.
level programs such as female-focused to be the order of the day in mass culture,
A company must have a critical
middle-school science programs. he says, a long-term loss of trust can have
mass of leaders who take maintaining
This is going to take a long time to x, deeply corrosive effects.
the companys reputation personally
Setty says, but we are determined. If you think about it, countries that
Googles move to transparency and its lose the trust of their citizens have and have the knowledge and skills to
subsequent long-range plans to address revolutions, Hurley says. engineer six aspects of trustworthiness
its diversity problem are emblematic of Whats more, executive decision-making into the DNA of the tribes they lead. Those
how an organization can garner trust in an has become ever more complicated as qualities are:
increasingly cynical world, says Michael organizational stakeholders proliferate in Communication
Useem, Whartons William and Jacalyn the 21st centuryin large part to the new Benevolence
Egan Professor of Management and focus on a triple bottom line of people, Alignment of Interests
director of the Center for Leadership and prot and planet. Similarities of Values
Change Management. Look at all the stakeholders. Look at
Integrity
Trust is one of the most uniquely and regulators. Look at customers, investors,
Capability to Deliver
completely earned capacities, he says. employees, Hurley says. These circles
All companies are made up of people,
You can want to be trusted, you can say, dont have necessarily completely
and people are corruptible, Hurley says.
Trust me, but its like telling the equity overlapping interests. In fact, in some
market to give you a high valuation of your ways, their interests may be in conict. Every major religion has suggested as
stock. It doesnt just happen; you have to So how do I as a leader encapsulate much since the beginning of time. We drift
earn it. these interests, manage these trade-offs based on desires or pressuresgreed,
So whom, or what, can you trust these and move forward while maintaining fear, prot, statusthat go against our
days? the trust of this disparate group of stated values.
stakeholders? For people and companies to maintain
Trust and Crisis Hurley has written extensively on the integrity, he says, the only way is to
Public surveys, Useem says, reveal that topic of trust, including the 2011 book be honest about the difference between
majorities report some or little condence The Decision to Trust: How Leaders Create
what one says and what one does.
in many American institutions, including High-Trust Organizations, with the aim of
People and companies need
big business, though public condence demystifying trust, as he puts it.
processes of discernment and learning
is far stronger in the military and small Soon after the books warm reception,
that force us to catch and correct drift,
business. he created Fordhams consortium,
Indeed, data from a 2014 Edelman whose mission is to expand the number Hurley says. Great leaders do that
report nds that only 43 percent of people of organizations that can legitimately for themselves and they do it for their
believe what CEOs say, says Robert be called trustworthy by helping them organizations using various tools.
Hurley WG83, a management professor demonstrate the values, practices and Michael J. OBrien
and executive director for the Consortium processes that warrant stakeholder trust.

Our mission, he says, is to help Higher volatility, meanwhile, shows up company. While malfeasance can occur
companies, one at a time, to understand in the stock price of a company and, in in any part of an organization, it only
what trust is and how to embed that the case of a country, in its currency. Iyer takes a few of the right people making the
pretty deeply into the architecture of cites an ongoing saga playing out in the wrong choices collectively to bring down
their companies. If we do that, then headlines to illustrate: the currency and a company of thousands, Iyer says.
over time they send lots of signals of credit spread volatility associated with the If you look at almost all of the trust
trustworthiness. Russian ruble and debt. As a corporate violations that have occurred, he says,
The consortium has also developed example, he offers, I dont know whether pointing to Enron and Tyco as classic
tools to measure trustworthiness and has Herbalife is doing everything by the book imbroglios, it takes three distinct
used them with a variety of companies or not, he says. But the fact that it is individuals: the CEO, the CFO, and
and executive programs for large global being questioned by one set of activist the head of sales or production. When
banks. forces against another, it has made you have that club of three acting in
Were very active in going beyond the stock a lot more volatile. Im not [collusion] in some form of misbehavior,
theory to try and see if we can make a saying they are doing something right then you are asking for trouble.
difference, he says. or wrong; this is just The inverse is then true. To ensure
how it reects on that an organization is trustworthy
Trust and Risk the valuation of the and ourishing, boards must
Providing such guidance on the topic of company. insist that the leaders within the
trust has proven vital because whenever At its worst, the risk organization align their interest with
the publics faith is shaken in a a publicly of untrustworthiness its stakeholders.
traded companyor in an entire countrys is existential for a
political or economic environmentit
can usher in some very unwelcome risk
possibilities, says investment professional
Anand Iyer WG83, adjunct professor of
nance and investments at Sacred Heart
University, former managing director at
Morgan Stanley, and a Wharton classmate
of Hurleys and an active member of the
consortium.
Risk, Iyer says, shows up in two market
measures: credit spreads and volatility,
which tend to show whether a company or
a country will be negatively impacted by a
question of trust or a scandal.
[A widening credit spread] means
that, for a company or country in
question, investors are demanding a
higher spread on its debt because they
either lack trust in its numbers or in its
strategy, Iyer says.
Theres a saying
in German, The
sh stinks from
the head rst.
HIGH
SCHOOL How to Develop Trusting
Employees
SUMMER Theres a saying in German: The
sh stinks from the head rst, says
An essential part of building a trustworthy
organization is having trustworthy employees
PROGRAMS Konstantin Mettenheimer WG83,

chairman for all Edmond de Rothschild
of courseas well as trusting employees.
Learn rsthand how one organization
has done so in our interview on P. 60 with
at businesses in Germany and Austria and

former chairman of Freshelds, stressing
the importance of the tone at the top.
Victoria B. Mars WG84, chairman and long-
time ombudsman at Mars Inc., one of the
largest private U.S. companies.
WHARTON I have learned that if the senior guys

do as they say and really lead by the
right example, a lot of people follow and he says. It cant possibly cover
happily do so. Such is mankind that we everything.
do like to follow the leader and what the And that is where psychological
leader does, he adds. contractsor agreements that arent
Pointing to his former employer, written down but nonetheless point to
Freshelds, Mettenheimer recalls what we think were expecting from an
partners who considered themselves interaction with an organizationcome
obliged to those contemporaneous with into play, he says.
them but also to those partners before Google doesnt owe us a diverse
and after them. A persons word was as workplace, Schweitzer says. Im not
good as a signed contract. At the time searching on Google [because of] the
of one merger, he remembers, a cutoff diversity of their workforce. ... And Google
date was agreed for billing to determine doesnt have to disclose the diversity of
whether money would go to the legacy their workforce. Thats not part of the
rms/partnerships or to the new entity. formal contract, but it might be part of
When one bill was, by oversight, sent after the psychological contract.
the cutoff date but was meant for before Customers want to feel good about the
the cutoff date, the predecessor rms companies they engage with. If customers
senior partner insisted that the money expect a commitment to diversity, part of
would go the new rm. Googles psychological contract with them
Leadership in the Mettenheimers perspective is ltered will be to be forthcoming about that issue,
Business World not only through the lens of his time at Schweitzer explains. To become more
Application Deadline Feb. 20 Freshelds, but also through his service trustworthy, senior leaders need to not
www.wharton.upenn.edu/academics/ in both the German army and the U.S. just deliver whats contractually required,
lbw.cfm National Guard. but to take someone elses perspective
In the Army, he says, the question of and understand and anticipate what
Management & Technology trust is a matter of life or death, so they else people are looking to get out of that
Summer Institute take it damn serious. And if you dont experience, he says.
communicate well, people will get killed. Schweitzer says he believes Google
Application Deadline March 1
may indeed fulll its promise to diversify
www.upenn.edu/sher/summer-mt
Trust and Values its workforce one day. Perhaps more
Ultimately, the amount of trust an importantly, he says, the companys
Wharton Sports Business
organization can garner from its transparency is a good rst step on
Academy various stakeholders is a function of the road toward regaining a skeptical
Rolling Admissions whats expected of them, says Maurice publics trust.
www.wharton.upenn.edu/academics/ Schweitzer, Whartons Cecilia Yen Koo You want a company that has
sports-business-academy.cfm Professor of Operations and Information diversity, he says. You want a lot of
Management, whose research focuses on things, but nobodys perfect. What you
emotions, ethical decision-making and want is [an organization that] is learning
negotiation processes. from their mistakes and getting better.
While a formal contractsuch as an
employment agreement or marriage Michael J. OBrien is a writer living in
vowsclearly spells out the terms of any Keswick Village, Pa. He holds a degree in
agreement, it doesnt cover everything, economics from Boston College.
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sweeter
H U N G RY F O R A
WORK PLACE
This Wharton alumna has ensured her family business remains one of the
most principled organizations on the planet. B Y M AT T H E W B R O D S K Y
Mars Inc. may be best known for its sweet treats. But it
is a massive family companythe fth largest
U.S. private rm with more than 75,000 associates in 74 countriesthat operates in a
wide variety of industries and with household brands: a chocolate segment with M&Ms
and Snickers, a petcare segment with Baneld Pet Hospitals and global brands including
Pedigree and Whiskas, as well as brands like Wrigley gum and Uncle Bens rice.
It is also a principles-based business with a strong foundation of trustwith all
stakeholders, including its consumers and associates.
As recently named chairman and long-time ombudsman of her familys rm, Victoria B.
Mars WG84 embodies these values. She has an affinity for helping peoplesomething she
rst got an inkling of trying her hand in Health Care Management courses at Wharton. She
didnt end up going into health care after Whartonas she recounts, the pull into the family
business was stronger than the pull into health carebut her innovative attention to people
has put Mars at the forefront of the growing movement in corporate America toward trust.
(See the article on P. 54 for more on trustworthy organizations.)
What follows is an excerpt from an interview between Mars and Wharton Magazine,
covering her career, her values and her company.
WHARTON MAGAZINE: Youve had a very varied career at It was probably the most fun assignment I had because it was
Mars since receiving your Wharton MBA. What have been your so entrepreneurial, so roll-up-your-sleeves. We all did whatever
favorite moments, your favorite assignments? was necessary. If the Dove Bar line was down and we needed
VICTORIA MARS: We purchased Dove Ice Cream back in the people to be dipping Dove Bars, we were out dipping Dove Bars.
late 80s. It was a teeny, tiny company, Dove Bars, based out of If we needed to be out on the street selling because sales werent
Chicago. After we purchased that business, they sent me in. In a up, we were out selling. If we needed to make a decision quickly
family business, you dont necessarily have a career path. They on how much overrun you were going to put in the ice cream,
said, This is where youre going. I started off as vice president wed all pull together and make the decision quickly.
of nance, personnel and purchasing (and titles mean nothing). Its also where I discovered my real passion for people. Slowly,

I dropped the nance. I dropped the buying part, and I was left with
the people part. Thats how I said, Aha! This is where I belong. This
is where Im comfortable.
WM: And is that how you became an ombudsman?
MARS: From there, I actually took a few years sabbatical.
I was trying to raise my children and realized I couldnt be
superwoman, and that I couldnt do it all. So I took a few
years off to stay at home. But I really missed that connection
and being involved in the business. I went back, and that is
when I got assigned to start up the Ombudsman program at
Mars. This is now 17-plus years ago.
There werent many ombudsman programs in corporate
America. That was my real opportunity to make a difference
to people. To be there, and to see how we could improve the
working environment. The working experience for people, by
really having an organizationa very small organization within in
a big organizationfocused on listening to people.
WM: Thats what ombudsmen do?
MARS: We listen. And then help them help themselves, and help
them resolve their issues themselves, supporting them in whatever
way we can.
WM: How was the transition to top leadership, to the
board chairman role?
MARS: My transition came with a lot of time and
preparation. I had considerable support from within
the organization. For me, [when] transitioning
out of the ombudsman role, which I had been
doing for 16 years, I was very proud of having
established and grown [it] to what it is today.
The Mars ombudsman program is recognized as
gold standard in terms of how to have a global
ombudsman organization. That was a very big
part of my identity and my pride in what Ive
accomplished within this organizationand
something that I was recognized for and could
feel that I achieved it on my own, not because
of who I am.
[For] many family members within a family
business, there are times where you have to
say, Have I done this? Ive achieved this
because [of] my competencies? Or does it
have to do with the fact that my last name is
Mars?
WM: Regarding the Ombudsman
program, it is part of the larger culture of
trustworthiness at Mars. Please explain.

MARS: To make our organization function and be successful,
its all about our people. In the end, we have great brands,
and we can have fantastic factories, but if you dont have the
people that have a passion behind our brands to either make
TAKE THE them or sell them, we dont have a business. So I really want
Wharton Magazine to make sure that this is a place that associatesand we call
them associates, not employeeswhere they feel valued and
Readership Poll
respected. And feel like they can make a difference in our
organization.
For us, that means that the how is just as important as the
what. I say its not just, Are you delivering your numbers?
Whats really important is how you deliver those numbers. Now,
and enter to clearly you understand that even if youre a great team leader,
Win a stay at Huntsman Springs. but youre not able to achieve anything on the what side,
thats going to become a problem. But we really emphasize that
how you interact with your people, and how you are as a leader
Visit: whr.tn/wharton-magazine-poll or as a team player, is really, really, really critical.
Again, its about respect. We have open offices. Open dialogue
and communication between departments, hierarchies. The
president doesnt have a bigger space than a sales associate
that happens to be borrowing a desk while in the office. Its
this sense of, were all in this together. And one person isnt
more important than another. We have different roles. We take
more risks, less risks, depending on how high up you are in
the organization. However, it does not make one person more
valued than the other person.
WM: Was this a shift in culture for Mars?
MARS: No, because were founded very much on our Five
Use your favorite QR Reader Principles. And our Five Principles are Quality and Efficiency
app to scan the code above. and Responsibility, Mutuality and Freedom. The real trick
is making them all work together because youre constantly
balancing one off of the other to get best results.
The philosophy, the dened Five Principles, was written
down in the 80sreally because the organization was getting
too big to be able to do it just by word of mouth. At that point,
my father and my uncle were running the organization, [and
they said], We need to put this down on paper so everybody
understands and everybody is aligned behind the same
philosophy. But the actual principles that were written down at
that point have existed way back into my grandfathers time.
WM: Is there one principle that sticks out? Is more unique?
MARS: The one that pops up the most is this concept of
Mutuality. Which in very simple words for me, is about nding
win-win solutions. Its not about win-lose. Together, our
relationship is going to create a better success for both of us,
not one versus the other. We apply that all the way through from
our associates, to our suppliers, to our consumers.
WM: Did you have a light-bulb moment as ombudsman, about
just how powerful the role and these principles are?
www.HuntsmanSprings.com MARS: Was there a story? I dont know. The ombudsman
role had to gain a lot of traction. One of the thoughts behind
initiating an ombudsman program was that, as we became a
bigger organization, as the family could not be everywhere
all the time, we wanted to make sure we could hear from our
people all around the world that, really, the principles are being
abided by. And its hugely rewarding to see that happening.

EXECUTIVE
EDUCATION
Wharton women share their perspectives.

Watch the videos:
www.WhartonWomensLeadership.com
Gain Clarity & Condence to

Ascend the Management Ranks
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For high-potential female executives who aspire to more senior levels of

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MB A
for EXECUTIVES:
A PR O GRAM RI S IN G
Whats made the Wharton MBA forr Executives Program special overr the
past ve decades and continues to make it a leaderr today? It has anticipated
students changing
g demands and expectations. BY ME G HA N LA S KA
SCOTT WIELER WG 87 gave his employer, who joined the WEMBA staff more than 25 years ago and is now
Bankers Trust, a choice. Either he was going to pursue a full- the director of the program in Philadelphia and overall director
time Wharton MBA. Or, he said, we could do something of WEMBA admissions, calls the establishment of the Fellows
really interesting and create a new sponsorship program for category in admissions nothing short of a turning point.
younger employees to attend Whartons WEMBA program. We were getting calls from companies that regularly
He preferred the MBA for Executives Program because he sponsored students here, but they wanted to sponsor less
already had his desired job. seasoned employees, she recalls. These were high-potential and
Going back to school [in the mid-1980s] was more about mature-beyond-their-years employees who the company didnt
gaining the knowledge and tools that we couldnt get in our want to lose to full-time MBA programs.
jobs and then being able to test out new concepts in the This became a retention tool for employers as well as a source
real-time laboratory of the workforce. You couldnt do that for recruiting talent, says Wieler, who maintains his ties with
in a full-time program, explains Wieler, who since went on the program and with the School as chair of Whartons Graduate
to found the Baltimore-based boutique investment advisory Executive Board. At least three of my Wharton classmates later
rm Signal Hill, where he continues to serve as chairman. joined Bankers Trust.
For Wieler to get his wish, not only did his employer have Whartons MBA for Executives Program has experienced quite
to consent. Wharton had to change its rules. a few turning points since it was launched in 1975. While many
The School had to amend its requirement that students aspects that made the program unique then have stayed the
have at least 10 years of work experience, which it did in 1985 same, the program has evolved in signicant ways to always meet
with the creation of the Fellows program. Cathy Molony, the changing demands and expectations of students.

1
RISE OF THE STUDENT
st
1975WEMBA
starts
A Class 1
1977
Class 1
graduates
four out of ve students were nancially sponsored under the

Like the expectations of Wieler, who became one of the rst general notion of staying with that employer throughout their
WEMBA Fellows. About one in ve students in Wielers class was careers. Now, she says, maybe 40 percent of East Coast students
a Fellow (out of 76 individuals)most of them from big banks, are sponsored, and closer to half that percentage are sponsored
telecommunications and pharmaceutical companies, and big six on the West Coast.
accounting rms, notes Molony. Self-interest is behind this trend for both employers and
With Fellows, Wharton could admit less-seasoned students for students, as macro currents in the workplace are driving
executive MBAs, while also allowing the School to attract larger the trend.
classes. Once in the program, one couldnt tell a Fellow from any Peter Cappelli, Whartons George W. Taylor Professor, who
other WEMBA student. began teaching in the executive MBA program 25 years ago,
As big a turning point as that was for Wieler and the other observes that students are spendingand need to spenda lot
Fellows, it still was an evolution in a common theme among more time managing their careers now.
executive MBA students: They were sponsored. In the 1970s Current companies dont have a coherent plan for them
through the early 1990s, most students were sponsored by their post-MBA. Students know if they want to do anything different
companies, which tended to be larger organizations in traditional with their new skills after graduation, they will probably have to
elds like banking and telecommunications. The MBA for make it happen, so they are trying to learn about opportunities,
Executives Program admissions team would receive as many as says Cappelli, who also directs the Schools Center for Human
10 applications from an individual sponsoring company. It was a Resources.
fairly straightforward model in that selected employees would be The decision to let someone attend Whartons MBA for
tapped to apply to Whartons program with expenses paid for by Executives Program is now likely made by a local manager
the company. rather than a corporate headquarters person in charge of talent,
One of the biggest changes to the executive MBA program Cappelli continues. The local managers see these programs
sinceperhaps a revolutionary turning point in how students view as being useful for the employee, but not particularly for them,
the programinvolves the movement away from a sponsorship as they dont necessarily have bigger jobs available in their
model toward a self-funded model. own unit. Instead, local managers want the newly minted
Back in the early 80s, Fred Wolgel WG85 remembers standing MBAs to return to their old desks and pay off that local units
out because he was self-funded. It worked out for him. At the time, investment in them.
Wolgel was a lawyer for the U.S. government in the Federal Energy The problem is that the employees interest in going to
Regulatory Commission. WEMBA was virtually always to get out of their current desk, he
I came to reposition myself and improve my career prospects. I says.
was in a regulatory position and wanted to move into transactional Students still think about what they can do within their
work. WEMBA helped me achieve that goal, as I changed jobs company, but they also want to see what else is available,
within a year of graduation to move to the private sector, says Lane says.
Wolgel, who now serves as vice president and general counsel of Now, employers must not only invest the money to sponsor
chemical manufacturer Texas United Corp. in Houston. students, they must also actively play a role in managing their
These days, self-funding is the path for more students than career objectives.
ever before, and fewer students are sponsored. The numbers bear Im aware of a handful of cases where students reconsidered
this out. Peggy Bishop Lane, vice dean of the Wharton MBA for nancial sponsorship because it came with constraintsthat is a
Executives Program, estimates that 20 to 30 years ago, close to new trend, Lane adds.

1985
Fellows program
2001
First San Francisco
founded class starts
(( ON THE web ))
Read more of Leonard Lodishs reections on 40 Years in Whartons
WEMBA Program on the WEMBA Blog at: http://whr.tn/wemba-blog.
RISE OF THE ENTREPRENEUR

Another driver behind the self-funding trend is that more students Rise of: TECHNOLOGY
are entrepreneurial. Sam Kherani, a rst-year student who is self-
funded and working on a startup, nds entrepreneurship to be When Fred Wolgel WG85 was an executive MBA student in
enmeshed in the vibrant community at Wharton | San Francisco. the 1980s, personal computers were new. Students brought
In addition to the Silicon Valley ecosystem, he attributes this books to class, took notes on paper and, in Wolgels case,
to entrepreneurs need to gain business knowledge and to form invested in an IBM desktop. Others used computer terminals
trusted networks.
in their hotel roomswithout Internet. Fast-forward to Class
When youre considering working with someone, you need a
40 in 2015, and the technology picture is dramatically
high level of trust, and that doesnt come from just having dinner
different. Students like Riva Dumeny and Sam Kherani bring
a few times. It needs to organically grow from living and studying
devicesnot booksto classes. The program even provides
together, which happens through the residential aspect of the
WEMBA program, the student says. devices like iPads loaded with course packs. Students take
Originally from Uganda, Kherani is now a 57-year-old practicing notes on their devices, and can study and connect with one
dentist in Vancouver with plans to launch a dental continuing another from anywhere in the world.
education company. For Dumenys geographically disparate study groupwith
I came to Wharton to get in-depth training in all areas members from homes that span several time zones (see
of business, to broaden my mind and to make the kinds of the main story on P. 64)this is critical. The group relies on
connections I never could in dentistry, he explains. Google Hangouts and video chats, along with international
Bernadette Birt, executive director and chief operating officer texting apps, to communicate when not on campus.
of Wharton | San Francisco, explains why such connections
I suspect that the technology alone has led to an even
both intellectually and sociallyare possible: This develops at
more international WEMBA program because without that
Wharton because EMBA students share their weaknesses as well
capability, it would have been very difficult to live far from
as their strengths, she says. If theyre not good at something,
campus, she says.
they are here to ll that gap so they can improve in that area; that
openness builds trust. The drawback, however, is the never-ending tension
The MBA for Executives Program has grown to accommodate between work and school. Students are given the time off by
the trend of entrepreneurial students, both from the efforts of their employers to attend classes every other weekend, yet
students and administrators. Take, for instance, the opening of the stay connected with their devices.
San Francisco campus, where classes began in 2001. To provide We encourage students to try to unplug from work as
for entrepreneurs and other self-funders, the MBA for Executives much as possible when they are here. This is a gift they
Program then hired two full-time career management directors, are giving themselves, so we want them to focus on being
one for each coast. In Philadelphia, meanwhile, the students of a student during class weekends. Even outside of class,
Class 40 formed their own Entrepreneurship Club.
they need to spend time talking to other students to build
Of course, the WEMBA program has always attracted
relationships, says Bernadette Birt, executive director and
entrepreneurs. Len Lodish, Whartons Samuel R. Harrell Emeritus
chief operating officer of Wharton | San Francisco.
Professor and inaugural vice dean for Wharton | San Francisco,
The School also explores technology to connect the two
has taught WEMBA students starting with the rst class and
recalls advising a student entrepreneur named Herman Sonny campusesfor instance, the Cisco Connected Classroom.
Waldman WG77, founder of Mainstream Swimsuits. Meghan Laska
We traded ideas during class weekends, Lodish says.

200 3
Huntsman Hall 2004
opens; WEMBA A office
and classes move to 1st annual East/
new building West weekend
RISE OF GLOBAL EDUCATION

Whatever the changes to the MBA for Executives Program, one
aspect is constant: a commitment to diversity, academic rigor and
global thinking
Whartons MBA for Executives Program was planned by a
committee formed in 1973 (chaired by Yoram Jerry Wind,
Whartons Lauder Professor of marketing) when the group was
tasked with examining the schools needs for special degree
programs and recommending courses of action. School records
indicate that the goal was to attract high-quality participants from
the Northeast and across the world without watering down the MBA
2 009
Director off Career
program. At the end of two years, graduates from the residential
Management
WEMBA program would receive the same MBA as their full-time position added
counterparts, stresses Vice Dean of the MBA Program Howard
Kaufold W75, who was WEMBA director from 1993 to 2010.
The rst class began in June 1975 with 25 students. The Schools
annual report from 1974-1975 states that it included two corporate
presidents, one college dean, four vice presidents, two bank
officers and one governmental agency director, as well as at least
a dozen managers. An announcement for that class from 1977
indicates that the average age of students was 37, and they came
from Philadelphia; New York City; Boston; Baltimore; Wilmington,
Delaware; and Washington, D.C.
Recruitment was working. The second class entered the program
in June 1976 with 43 students from as far south as Florida, as far
north as Connecticut and as far west as Ohio. Students ranged in
age from 28 to 54 years old and included six women.
2012
Wharton | San Francisco campus
During the 1980s, as in the 1970s, the majority of students
moves from the Folger Building to
came from the Boston-to-D.C. corridor, but in the 1990s, a larger Hills Bros.
proportion of students began commuting from places farther
aeld. When Wharton | San Francisco opened in 2001, it became
more feasible to commute from anywhere in the world to a
Wharton campus.
Kaufold says the majority of current students have international
work experience, and many are from other countries. In the current
rst-year Philadelphia class, 38 percent of the 119 students are
international. In the West Coast class of 107 rst-year students,
about half are international. San Francisco rst-years are
commuting from such locales as South Korea, Hong Kong, Peru
and Canada, while the half who are domestic travelers come from
around the country.

WEMBA
PH L
2013
First WEMBA-only
graduation in Philadelphia
(( ON THE web ))
Walk in the shoes of executive MBA students for a weekend. Watch
the video at: whartonmagazine.com/digital-only.
SF 2014
WEMBA A office moves
back into the Steinberg
2013
First time greater than 50%
Conference Center
off SF class comes from

outside the Bay Area
International diversity and perspective are crucial to recruit RISE OF THE FUTURE PROGRAM?
todays students. That leads the reader to ask: Whats next? What will be the next
An MBA is required for my professional goals, but I had spent crucial turning point for Whartons MBA for Executives Program?
my career with one company, so I also wanted to gain perspective Forecasting 40 years into the future is a challenge in any sector,
on other industries and geographies. Wharton provides that even one as steeped in tradition as higher education. But as the
diversity as well as challenging academics, says Riva Dumeny, a Wharton MBA for Executives Program continues to respond
rst-year WEMBA student on the Philadelphia campus. to the changing needs and realities of the business world and
She points to her study group as an example of student students themselves, rest assured that certain trends probably
diversity. Dumeny is executive vice president at NEBCO and vice will continueone notably being the quality of students. Wharton
president at AmWINS Group, both insurance rms. She lives in attracts elite individuals for all the reasons mentioned above, and
Orlando, Florida, with her family, but commutes to Rhode Island others you would expect, but executive MBA students are special
each week for her job. Another student was born in Ireland but by their very nature.
lives in Miami, serving as CEO of a technical products rm. A Students apply what theyre learning immediately to their
third member was born in Poland and now works in banking jobs. Thats exciting for students and faculty, and that level of
in Switzerland. Rounding out the study group is a student excitement is contagious, Lane says.
from Argentina who lives in Florida and works in banking, a Long-time teacher Lodish puts it this way: Having more work
student commuting from Mexico who works in real estate, and a experience, they are more likely to have made a big mistake in
U.S.-born student working as a chief accounting officer at a bank their career and are very willing to listen and learn. And when
in Miami. they come to class, they share how what they learned in the prior
Lane hopes to only advance this trend. The School weekend session worked or didnt work. I often adapted our class
administration focuses on how to create an ever-greater global discussions as a result. That is a very attractive environment for
experience for its students. professors and why faculty love teaching WEMBA classes.
We admit students from all over the world, our faculty
[members] have global backgrounds, and we offer global Meghan Laska is a freelance writer and editor based near Boston.
experiences. We want to consider: How can we expand that A former communications staff member at Wharton, she has also
further? she says. previously worked as a legal journalist.

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Small Dorm Rooms,
Big Startup
Funds
Since the launch of the Dorm Room Fund in 2012,
the student-run venture capital experiment has
proved its point: Entrepreneurs can remain in
college and create successful startups.
BY JOSHUA BROCKMAN | ILLUSTRATIONS BY J.D. KING
A startup recipe: Take about

a dozen Penn undergraduate and graduate students. Put them
Rounds DRF director. Along the way, we hope to partner
with these exceptional students and work with them throughout
on a student-run investment team focused on nding campus their career.
startups. Add capital. Stir in a generous scoop of mentoring. Kopelman has said that he chose Philadelphia as the DRFs
Shake vigorously. Repeat with students from other colleges and rst city because of his commitment to creating a stronger and
universities in New York City, the San Francisco Bay Area and more vibrant Philadelphia startup community.
Boston. What have you got? The Dorm Room Fund (DRF). Cheng adds that the city was also fertile ground because First
Veteran tech investor and entrepreneur Josh Kopelman Round wanted to test the peer-to-peer investing model in a
W93 created this recipe for peer-to-peer funding of student community with a history of student entrepreneurship, where we
entrepreneurship when he launched the Dorm Room Fund in felt condent we could identify students who could be successful
2012 in Philadelphia. The fund operates under the auspices of in an investing role.
First Round Capital, the venture capital rm Kopelman founded a The decision paid off: To date, 14 Penn student companies
decade ago. The goal is to keep students focused on two prizes have received DRF investments of up to $20,000 each in
earning their diplomas and launching their companies. convertible notes. This represents nearly a quarter of the 61
Reecting on his experience as an undergraduate entrepreneur, investments the fund has made so far in the four cities where
Kopelman wrote in the First Round blog post announcing its active.
DRF that he learned rsthand how college campuses are With an overall fund size of $2 million (approximately
wonderful ecosystems for creating disruptive ideas. Inspired by $500,000 per city), the lions sharenearly 42 percenthas
investments First Round made in portfolio companies, he set out been awarded to e-commerce and consumer-focused online
to explore how a new venture fund could bridge the disconnect startups, followed by enterprise (23 percent), medical technology
between dorm room ideas and the capital to bring them to life. (14 percent), educational technology (9 percent), hardware (7
The founding principles of the DRF include having students percent) and nancial technology (5 percent) ventures.
run the fund from campus, encouraging investments in
companies that have the potential to inuence the very To the Tune of Multiple Millions
markets that students have expertise in and nancing student Firey was the rst company in the DRF portfolio. Co-founders
entrepreneurs based on their early-stage needs. Dan Shipper C14, Justin Meltzer W12 and Patrick Leahy W13
Theres a long list of legendary entrepreneursincluding created a co-browsing technology that allows a remote viewer
Steve Jobs, Mark Zuckerberg, Bill Gates and Michael Dellwho to connect to a presenters browser window and to collaborate
dropped out of college to focus on building their companies. But
its also possible for students to pursue their entrepreneurial
dreams while in school.
Being a student

This is what First Round hopes to provide with the Dorm
Room Funda chance for talented student founders to get
their ideas from dorm room to market, says CeCe Cheng, First entrepreneur is
often very lonely.
in real time without having to download anything rst. The the Wharton senior. Growing up in the Bay Area in the shadow of
solution only shares the presenters webpagenot the desktop Silicon Valley, Kriston followed her passion for technology
and works across platforms. and science by spending summers at Sally Ride Science
Within two months of Shippers graduation this past summer, Camps, building robots and learning about marine biology.
Firey, which already had revenue in the mid-six gures, was To land a coveted spot on the DRF team, Kriston approached
sold to Pegasystems for multiple millions, according to the some professors from the Engineering Entrepreneurship
Dorm Room Fund. Today, Shipper and Meltzerwho rst met Program for some insight about how to make her application
at a technology meetup at a coffee shop on campuscontinue stand out. Then, with just 24 hours before the application
to lead the team, developing the technology as principals of deadline, she set out to make an animated video about her
collaboration initiatives. candidacy. After a coffee-fueled night, she completed the task.
Being a student entrepreneur is often very lonely. The Her presentation to Kopelman and other First Round Capital
conventional wisdom is that if youre serious about your partners paid offshe was selected as a founding member. She
company, you have to drop out of school to pursue it, recalls the experience as the most valuable
Shipper says. all-nighter Ive pulled to date. And she earned the moniker
DRF were the rst people we encountered that believedlike video girl.
we dothat building and running a company is possible to do Kriston has since devoted herself to the DRF cause and
from school. spends upward of 25 hours a week on fund activities, including
Initially, Fireys plan was to nd paying customers and helping to secure business development relationships for
build a revenue stream before raising any money. But the DRF portfolio companies. Ultimately, she worked her way up to DRF
investmentthe only venture capital Firey acceptedhelped Philadelphia managing partner.
the team experiment with marketing initiatives, including Its been the greatest learning experience of my college
sponsoring conferences. Press coverage followed, along with career, she says. Ive learned about investing, tech, myself,
opportunities to secure more customers. managing a team and building something from the ground up.
Shipper says one of the memorable perks was also having And the only reason why that has been possible is because of
access to shared office space that was closer to my house than what Josh said. He made it clear that we were to own the Dorm
any of my classes, which provided an inspiring environment Room Fund, that it was our project.
for us to work and created a community of other student Among her most valuable takeaways are learning the value
entrepreneurs with whom we could share stories and advice. of transparency for success as a leader and investor and
It didnt hurt that their desks were inside First Round maintaining a sense of humility.
Capitals office, giving the young company access to all kinds of Investing, in general, is a humbling business, she says. You
mentorship opportunities, including Kopelmans time. Shipper can be so sure of something and end up being wrong.
says Kopelman provided invaluable assistance with negotiations
during the acquisition process, helping the Firey founders Early Admission
avoid rookie mistakes and opening their eyes to new avenues Dana Rosenberg was also an early enthusiast. She joined the
in the deal. Dorm Room Fund investment team the summer before her rst
day of MBA classes in 2013.
Knocking on DRFs Door Prior to Wharton, Rosenberg was based in the Bay Area
The nearly dozen members of the Philadelphia investment handling business development for digital health startups and
board are plugged into the campus technology community organizing events for the next generation of female technology
and scout for opportunities. The formal application process leaders.
for startups begins online. At each weekly meeting, the board Her goals for her MBA experience include staying involved
typically hears up to three pitches from prospective companies. with founder communities in California and on
When Jasmine Kriston came to Penn, one of her goals was campus, as well as gaining hands-on experience in the venture
to play a role in making Philadelphia more tech-centric, says capital arena.
The Dorm Room Fund, relative to other venture capital
groups on campus, provides the most analogous experience to
real-world seed investing, says the current second-year MBA
Its been the greatest
student, who has also served as DRF managing partner.
learning experience
The team, Rosenberg explains, functions like a professional
venture rm in that its nanced by a limited partnership,
of my college career. manages an operating budget, identies attractive deals on

campuses and uses a formal partnership voting process to make
investment decisions.
Rosenberg has no problem rattling off a list of investor skills

In many ways, we also like to view the
student founders we work with as peers.
that shes developed, including assessing growth opportunities or
potential risks for startups, utilizing pattern recognition to screen
an app to summon a car in lieu of hailing a taxi. Curbside Care
provides on-demand house calls for people who need care at

investment opportunities and sharing opinions on the quality of home, in a hotel or an office.
an investment, to name a few. The technology platform bridges a market of fragmented
But whats it like to make investment decisions that could supply and untapped demand by connecting off-shift M.D.s and
make or break another students company? Exciting. N.P.s to patient users in real time, Ames explains.
What I love most about the Dorm Room Fund is that we are He marvels at the speed with which the DRF came to an
backing founders at a point when their companies would not be investment decision.
as appealing to traditional venture rmseither because they Once we decided to formally pitch the full DRF investment
are still too early in their lifecycle or because the attention of the committee, it was only a matter of hours before we had a
founders is split between school and their startup, she says. decision, which surely beats the more typical, drawn-out
process [of traditional venture capital rms], he says.
Dont Forget to Ask Your RA The capital infusion has focused the duos efforts on
Most early-stage entrepreneurs supported by the Dorm Room executionaccelerating the pace of bringing the service to
Fund, including Prayas Analytics founders Pranshu Maheshwari marketinstead of fundraising. Ames says another upside to
and Yash Kothari, say its a perpetual balancing act between staying in school while fast-tracking the business has been the
homework and a never-ending business to-do list. opportunity to use Curbside Care as a case study in a number of
Prayas repurposes surveillance video footage at the point- entrepreneurial courses at Wharton. Whats more, the company
of-sale to provide retailers with operational insights about the is part of Whartons Venture Initiation Program, which gives
customer experience, including time spent in line, customer them access to additional business, legal and investor advice.
abandon rates and staff engagement.
The company name combines the rst three letters of the The Next Chapter
co-founders names; it also means endeavor in Hindi. Wharton The rst round of the Dorm Room Fund will close at the end of
senior Kothari says Prayas has been using the funds investment 2015, having supported an initial cohort of Penn startups, the
to hire an intern, to support the founders during the summer likes of Firey, Prayas and Curbside Care, as well as fashion
months and to fund pilots with clients. rm Dagne Dover (co-founded by Melissa Shin Mash WG12);
Perhaps more important than the actual funding has been the Glass-U (founded by junior Daniel Fine); webpage design tool
post-investment support from the Dorm Room Fund, he says. Pagevamp (co-founded by Vincent Sanchez-Gomez C13, Fred
For example, in a relationship-driven industry such as retail, we Wang W13 and Atulya Pandey C13); mobile content tool WhamX
are always looking for warm introductions. (founded by Apurva Shah C14); and human capital service
Of course, it wouldnt be an authentic dorm room ecosystem SkillBridge (co-founded by Brett Lewis and Raj Jeyakumar,
without RAs in the mix. So advisers from a host of companies both WG13).
such as RJMetrics and Curalateserve as mentors. Kothari says Theres welcome news for the next group of campus
strategic advice from the pool of RAs has been extremely valuable. entrepreneurs in Philadelphia. Another DRF fund will follow in
2016, according to First Rounds Cheng.
From Ear Infection to Fast Decision In many ways, we also like to view the student founders
The Wharton Wharthogs rugby team may have brought we work with as peers, Rosenberg says. With or without an
Scott Ames and Grant Mitchell M14 WG14 together. But the investment from the Dorm Room Fund, we want to provide as
concept for their business, Curbside Care, wasnt born out of much advice, support and guidance as we can to help them get
the dislocated shoulder that second-year MBA student Ames off the ground. We hope that by doing so, we can disrupt some
sustained during a match, but from a more frustrating medical of the traditional power dynamics between investor and founder,
incidenthours spent waiting at an urgent care center for the and further our mission of inspiring and supporting more
treatment of his girlfriends ear infection. (Mitchell, who has a careers in the startup industry.
background in medicine and health care entrepreneurship, did
not treat Amesor his girlfriendfor either injury.) Joshua Brockman is a multimedia journalist whose stories on
Curbside Care is the Uber for health care, Ames says, business, technology and the arts have been published by NPR, The
likening it to the popular car-sharing service whereby people use New York Times, and Smithsonian.

Animal
Attraction Alumni are bringing the Wharton pedigree to
all facets of the pet care industry.
BY SAMANTHA DRAKE
THE NIGHT BEFORE an accounting midterm The Ashtons teamed up with WG03 classmates Laura Bennett
exam in 2001, Wharton MBA candidates Chris and and Alex Krooglik to develop a business plan for a pet insurance
Natasha Ashton (both WG03) found themselves in company, for which they won the Wharton Business Plan
the emergency room of the Matthew J. Ryan Veterinary Hospital Competition in 2003.
at the University of Pennsylvania. Their 1-year-old cat, Bodey, The team parted ways after graduation. The Ashtons launched
had stopped eating and lost a lot of weight, getting progressively Petplan Pet Insurance in Philadelphia, while Bennett and
sicker and weaker. Their regular vet had run out of ideas, and the Krooglik co-founded Embrace Pet Insurance in Cleveland.
Ashtons were desperate to nd out what was wrong. It appears the pet care market can support both. The space
A feeding tube, an infection from the feeding tube and a bout is booming in the U.S. More than 36 percent of all households
with pneumonia later, the Ashtons faced $5,000 in vet bills, include at least one dog and approximately 30 percent of
which the married, full-time students could ill afford, recalls households include an average of two cats, or nearly 70 million
Natasha. Worse still, Bodey wasnt improving. That is, until a dogs and more than 74 million cats, according to the American
Penn vet theorized the cat became severely constipated when Veterinary Medical Association (AVMA). Americans are also
the Ashtons changed her food to an anti-hairball diet. When they spending more than ever on their pets, says the American Pet
switched her food back, Bodey started eating again. Products Association, which forecasted that pet owners will have
It was a $5,000 laxative, essentially, Natasha says wryly. spent $58.5 billion on food, supplies, vet care, services such as
The frightening and expensive experience impressed upon grooming and boarding, and the purchase of animals in 2014, up
the Ashtons that cat and dog owners in the United States had from $55.7 billion in 2013.
very limited options when it came to funding pet health care. Wharton graduates are capitalizing on these trends. From
In their native England, about 20 percent of the countrys cats becoming leaders in the pet insurance industry like the Ashtons,
and dogs were insured in 2001, with about 30 percent insured Bennett and Krooglik, to guiding the way people take care of
today, estimates Chris. In the United States, that gure was 0.65 their pets, graduates are helping pet owners be the most loving,
percent in 2012, according to the North American Pet Health responsible and fun owners they can be.
Insurance Association (NAPHIA).

Natasha and Chris
Ashton, co-founders
of Petplan, with an
important company
SUSAN FARLEY
stakeholder, Dog in
Chief Montgomery
Friendly Competition Currently, Petplan manages 150,000 policies and has 130
For Petplan and Embrace, educating an American employees at its office in Newtown Square, Pa.
public about the benets of pet-specic insurance I dont think wed be where we are today if not for the support
remains one of the biggest challenges. we received from the School as a whole and through the network,
We need a lot more competitors out there. says Natasha. The Ashtons Wharton connections resulted in
Competition is good because it generates awareness, especially Commerce Bank Founder Vernon W. Hill W67 becoming Petplans
in a country this vast, says Natasha chairman of the board and an investor in
Ashton, who now serves as Petplans the company.
chief marketing officer. For Bennett, Wharton presented the
The more people shouting about opportunity to reinvent herself and start
it, the better, agrees Bennett. her own company. As an actuary, Bennett
One in three pets will be the brought much-needed insurance knowledge
subject of an unexpected vet bill each to the team that comprised the Ashtons and
year, which can cost a pet owner Krooglik before they parted ways.
thousands of dollars, according to I was the only insurance person in the
Natasha, citing pet insurance market whole class, Bennett remembers.
research by Datamonitor. The most Embrace has nearly 60 employees in
typical claims for cats and dogs Cleveland and manages 40,000 policies.
SUSAN FARLEY
involve gastrointestinal issues and Embrace found a home in Cleveland because

ear infections, which generally cost thats where Bennetts husband, and for
between $400 and $500 to treat, a time Krooglik, worked at Progressive
says Chris, now Petplans president. Every day is bring-your-pet-to-work day at Petplan. Insurance. Bennetts cat, Lily, now age 9, was
Then there are the totally the rst pet covered by an Embrace policy.
unexpected, downright weird things that happen no matter how Its policies are issued by American Modern Home Insurance
healthy the animal, he adds, like the dog that had a cactus needle Co. and include accident and illness coverage with an optional
enter the back of its head and eventually migrate out through its additional annual allowance of $200 to $400 for routine care.
eyeball or the cat that was impaled when a ceremonial sword fell Cats and dogs aged 14 years and younger are eligible for accident,
off a wall. (Amazingly, both animals survived. Bodey, by the way, illness and wellness coverage (older pets can get accident and
survived her bout with constipation and lived happily to age 11, wellness coverage), which cannot be dropped or changed by
when she died from unrelated kidney failure.) Embrace as the pet ages. Embrace coverage includes breed-
Strategic partnerships have helped both Petplan and Embrace specic conditions, cancer treatment, diagnostic testing, surgery
become important players in a small industry with a large and alternative therapies, and can exclude pre-existing conditions,
potential customer base. The two pet insurance providers cosmetic procedures, organ transplants and prosthetic limbs.
are among only 11 such companies in the U.S., according to
NAPHIA; in comparison, about 80 companies serve the much Training Pet Owners
smaller United Kingdom market, notes Natasha. One of the contributors to Embraces blog is Dr. Patty
To gain instant credibility in the U.S. market, the Ashtons Khuly V95 WG97 of Miami, a veterinarian who has
partnered with Petplan Ltd., a 35-year-old pet insurance spread the word about pet health issues virtually
company in the U.K., to exclusively license its brand for the U.S. across multiple platforms since blogging began. The
The U.K. pet insurance industry offers a simple, comprehensive social media-savvy veterinarian, blogger and app designer takes
product, while U.S. pet insurance policies tend to be more an entrepreneurial approach to her medical career, leveraging
complex and restrictive because theyve been modeled on human her love of writing and pets to make a name for herself. Khuly
health insurance policies, Natasha explains. Petplan administers launched her own blog, www.Doolittler.com, in 2005, which led
policies issued by AGCS Marine Insurance Co. in the U.S. to a pet health column for the Miami Herald and blogging for
Petplan differentiated itself by introducing the rst Vetstreet.com, among other websites and publications.
customizable pet insurance policies, allowing pet parents It keeps me in the mix and keeps me relevant. Without the
to choose a premium and coverage that suits their needs and writing, I couldnt get other gigs, Khuly explains. She says the
budget. All of its policies provide full coverage for accidents and increased attention shes received from her writing has led to
illnesses, including hereditary and congenital conditions, from roles on corporate advisory boards and veterinary task forces,
arthritis to zinc poisoning, for pets of any age, and are backed by among other opportunities.
24/7 customer service. Khuly uses her pet health knowledge and inuence to speak

TODD BISS
Alex Krooglik and Laura Bennett, co-founders of Embrace Pet Insurance, have a paw up on the competition.
out against cosmetic procedures such as declawing in cats, Out of the Basement in India
docked tails in dogs and breeding for exaggerated traits. She Rahul Jetley WG10, formerly an associate principal
also advocates against animal obesity, an all-too-common at Jacob Ballas Capital India Private Ltd. in New
problem for owners who cant say no to their pets pleading eyes. Delhi, spent most of his career in nance. He
In January 2013, Khuly ventured into yet another arena by decided to attend Wharton so he could start his own
launching an iPhone app, The Fat Dog Diet, and a corresponding business and grow as a well-rounded business professional. Jetley
website, www.drpattykhuly.com, to provide individualized says he also wanted experience navigating the obstacles faced by
guidance to help slim down an overweight pet. Excess weight business owners in India, including the shoddy infrastructure,
is one of the most signicant and prevalent health issues for corruption and crippling bureaucracy he observed while living
companion animals, she notes. Additional pet health-related apps and working in the country.
are in the pipeline. When Jetley returned to India, he set his sights on launching a
Meanwhile, Khuly practices full time as a veterinarian at the business in a consumer-facing animal health care niche with no
Sunset Animal Clinic in Miami (which she also is in the process organized players: a veterinary hospital with satellite clinics. He
of rehabbing and moving). also knew rsthand the dearth of quality competition.
Refusing to stay still is kind of a pathology among us, As a family, we have always had pets and had always been
she jokes. unhappy with the experience at our veterinary care providers,
The U.S. is hardly the only country thats crazy about its pets, Jetley says.
and alumni are also pioneering new health and retail services Most vets in India practice out of their basements, and hygiene
outside the U.S., serving burgeoning pet industries in such places standards tend to be low, Jetley points out.
as India and Mexico. One of the compliments we get at our hospital is that it does

Unleashing Mexico Markets
In Mexico, 58 percent of Mexican families
own pets, according to the countrys
National Institute of Statistics and
Geography, yet pet owners have few retail
options. Toby Clarence-Smith and Pablo Pedrejon
Garcia (both WG13) see this as an opportunity, and
despite a Mexican startup scene that remains largely
in its infancy, they launched a pet e-commerce
website, Petsy, in March 2013. They were hoping to
benet from government economic reforms and a
growing middle class and online shopping industry.
The recent grads took what they learned about
e-commerce during their Wharton internships
Garcia in Seattle at Amazon.com and Clarence-Smith
in Mexico City at the then-edgling Linio, which has
become Mexicos largest e-commerce website.
Clarence-Smith recalls how he and Garcia had to
do everything themselves in the beginning, from
delivering ordersby bicycle when necessaryand
packing boxes to learning basic programming to
working on the website.
Being a startup founder is not just about raising
money and running meetings, he says.
But the two soon moved on to delegating,
managing a team and raising seed money. Just six
JEFFREY SALTER
Dr. Patty Khuly, the Miami vet

who has collared the online months after Petsys launch, Venture Partners Mexico
pet health content market and others invested $1 million in the company,
following on a year later with another $800,000.
not smell like a veterinary clinic, he adds. Petsy now employs 26 people at its Mexico City office.
In India, pet owners also face a lack of standard charges for On Nov. 12, Petsy was named Site of the Year, the grand prize
veterinarian services and a lack of transparency in billing, not in a contest for e-businesses sponsored by CNN Expansion, the
to mention doctors practicing without a veterinary license, cable news organizations Spanish-language portal in Mexico, says
Jetley says. Clarence-Smith. Petsy also won the consumer category of the
With an eye toward raising standards for care and customer countrywide competition, in which 110 companies competed.
service, Jetley and veterinarian Ramandeep Chaggar co-founded Although the website offers a wide variety of pet products,
Alphapet in August 2013. The company consists of a main Clarence-Smith says the best-selling item by far is premium dog
hospital in New Delhi and two smaller clinics within a 15-mile and cat food.
radius. They chose the hub-and-spoke business model for Perhaps this global trend toward loving and pampering pets
convenience because people generally dont want to travel even treating cats and dogs like children and spending indulgent
more than 20 minutes to go to the vet for wellness visits and amounts of money on themcan be explained by the aging
vaccinations, he explains. The main hospital focuses on more population and declining birth rates worldwide, as did a report
serious health issues that require X-rays and surgeries. Alphapet on global pet industry trends by market research provider
has 14 employees and sees about 1,000 clients a month, Jetley Companiesandmarkets.com.
says, and more hospitals and clinics are planned. Whatever the reason, Wharton alumni are capitalizing. They
The pet industry in India is much smaller and less developed are unleashing their entrepreneurial spirit and business acumen,
than in the U.S., but its expanding rapidly. whether by identifying and proting from health care and product
People are now starting to view their pets as a family member, trends fueled by the booming number of pet owners in the U.S. or
rather than just an animal, which generally remains outside of the carving a niche in up-and-coming markets around the world.
house, Jetley says, attributing this shift in attitudes to increased
exposure to global trends and a growing affluence that allows Samantha Drake CGS06 is a freelance writer in the Philadelphia
people to spend more on their pets. area who specializes in business, legal and general interest stories.

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UNDER

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