Exchange (2018) - Tippie College of Business

MARVIN POMERANTZ
KEITH COOK (BSC49) AND
SHARON KRESS SUPPORTED
HANNAH HENDRICKS WITH A
SCHOLARSHIP
GARY FETHKE &
JAY SA-AADU
H. JOHN HAWKINSON
The concepts that became the Hawkinson Institute
and the Krause Fund were born in the 1990s under
the deanship of Gary Fethke (BA64; PhD68).
“It’s important to create distinctive programs
that are hard to copy,” said Fethke. “You just can’t
have mass-produced undergrads. You have to
give them something special. And that programming
has to be funded by private sources.”
He found an early champion in Marvin Pomerantz
(BSC52), who wanted to honor investment banker
H. John Hawkinson (BA36), who had profoundly
impacted Pomerantz’ life and career. Other donors
stepped forward including Keith Cook (BSC49)
and Sharon Kress and, in 1999, the Hawkinson
Institute of Business Finance was established. In the
previous year, W.A. (Bill) Krause (BA57), endowed
the Krause Fund, which offered undergraduates
experiential learning in real-world portfolio
management.
Fethke says that initially, the idea was to teach
investment banking to students, but it quickly
became clear that the curriculum wasn’t the problem.
It was placement.
“We’re far from the major financial centers,” said
Jay Sa-Aadu, professor of finance and the
Department of Finance department executive officer
from 1982 to 1994. “In the 1980s, at best we would
place students in Chicago or maybe Minneapolis.”
The vision of the Hawkinson Institute quickly
pivoted its emphasis to placement and today
Hawkinson successfully places students at all types
of investment banking firms: bulge bracket, middle
market, and elite boutiques in New York, Chicago,
and the Bay area. The value of the Krause Fund
continues to grow as the elective class pushes today’s
W.A. (BILL) KRAUSE
students to new levels of excellence. That
legacy—coupled with a strong Midwestern work
ethic—ultimately landed Hendricks in another
interview chair.
During her summer internship, Hendricks pursued
an internal mobility option and jumped from
Goldman’s finance division to the banking side of the
business. One major selling point: her Krause Fund
class report.
“Taking the skills and the physical report from
the Krause Fund class, I was able to leverage that
experience into a new position at Goldman Sachs,”
says Hendricks. “Given that I had been focusing on
doing equity research in the Krause Fund and also
covering equities in my internship, I was able to
combine those experiences to produce a compelling
argument that I was a good fit for an equity capital
markets role.”
Before making her pitch, Hendricks says she
consulted with Davis, Kiran Moorthy (BBA10),
and Skaaren Cossé (BBA14), all of whom work
in Goldman’s investment banking division and
were able to offer her concrete pointers. More proof
that the pay-it-forward culture doesn’t end after
graduation.
The resources of the Hawkinson Institute and
the Krause Fund are necessary but not sufficient
conditions to the success of students like Hendricks,
says Richman. At the end of the day, he says, there’s
one thing that defines every successful student:
“What I really credit student success to is they work
their butts off and they don’t give up.” •
20 EXCHANGE 2018