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16 center Spotlight s e CUr I t I es a nalysI s Center $2.5 MIllIoN IN gIftS offIcIally laUNch cENtEr Six industry leaders enable the Securities Analysis Center to begin offering its innovative curriculum to students in fall 2008. for Ron Sauer ’80 and Jim Rippey ’53 it was the ability to enhance Portland’s reputation as a center for money management. For Chuck Lillis, Ph.D. ’72, and Eric Sorensen, Ph.D. ’77, it was the innovative combination of accounting and finance principals, with an emphasis on the Pacific Rim. For Eli Morgan and Aequitas Capital Management it was the focus on alternative investments. That’s why all six chose to invest at total of $2.5 million in the Securities Analysis Center, which will educate and prepare students for traditional, evolving, and emerging careers in the investment industry. “The Securities Analysis Center is one of only a handful of programs melding traditionally separate but related areas of finance and accounting to provide research and education applicable to modern securities markets,” said Dean James C. Bean. “We are fortunate and grateful to have many prominent and respected business leaders, who also happen to be among our most successful alumni, support the center and help define its vision and goals.” The six initial founding consortium members each committed $50,000 or more a year for five years. Sauer is president of Mazama Capital Management. Rippey is founder and retired president of Columbia Management Group. Morgan is cofounder of M Financial Group and chairman and CEO of 2030 Investors LLC. Lillis is cofounder and principal of LoneTree Partners and managing From left to right: Robert Jesenik, Dean James C. Bean, UO President Dave Frohnmayer, Ron Sauer, Emily Knigge, Jim Rippey, and Chuck Lillis at an event to officially launch the Securities Analysis Center last fall. partner of Castle Pines Capital. Sorensen is CEO of PanAgora Asset Management. And Aequitas Capital Management, which made a corporate gift, specializes in private equity and commercial finance products for the healthcare, energy, and middle market sectors. Robert Jesenik ’80 is CEO. The generous donations from these consortium members are providing the resources to get the Securities Analysis Center up and running, supplying funds for a managing director (see related article on page 17), new courses, research to enhance faculty expertise, and experiential learning opportunities for students with leading companies. All this will propel students along on the learning curve toward becoming expert investment and money managers—supplanting the three or four years of on-the-job training it typically takes to become a first-rate analyst, according to Lillis. Ultimately the Securities Analysis Center hopes to secure a $15 million endowment to fund its operations in perpetuity. And Sauer has no doubt that will happen. “It’s great for the students. It’s great for the University of Oregon, and it’s great for the state,” he summed up. “We anticipate that, once the SAC is launched, investment professionals throughout the world will become enthusiastic about the center.”
gEttINg to kNoW BEN SalM s e CUr I t I es a nalysI s C enter UO Business sat down to get acquainted with Ben J. Salm, the first managing director for the new Securities Analysis Center. Here are excerpts from the conversation with the 1984 Lundquist College of Business alum alum who’s spent most of the past 20 years in the investment management industry, most recently in Boston Boston and London. uo Business: Tell us a little about yourself and your background. Ben: Well, I was born in Beirut, where my father worked many years for the U.S. government. My parents were from the East Coast, and when we returned to the States when I was eight they chose Eugene—funnily enough because my father wanted to teach here at the university. I eventually took my degree in business here nearly 25 years ago. So I’m moving here from Massachusetts, but part of it’s like coming home. uo Business: What took you from Oregon to Massachusetts in the first place? Ben: Grad school. My undergraduate degree also carried a minor in computer science, and I spent six years with a software company in Portland, which was great. I’d always expected to pursue a master’s, so I left for Cambridge to study at MIT when the time was right. That was a terrific experience. uo Business: And then you got involved in portfolio management? Ben: Yes, I joined State Street in Boston, which was just getting set to really grow its investment management business. Our clients were mostly pension funds: IBM, the Dutch Public Employees, Nestlé—names you’ve heard. We were beginning to expand globally and I was already involved with that in Europe and the Middle East. So, to see if we could truly be global and manage funds from anywhere, I went to our small London office, a fairly new idea at the time. Things went well, our business and the markets grew strongly, and we were firmly on the map. The London office grew to be 200 people. uo Business: Do you see any similarities between that experience and what you’re starting with the Securities Analysis Center? Ben: In the sense of helping to build something new and lasting, yes I do. I think it’s a matter of being thoughtful about what we’re trying to accomplish here and confident that we know what we’re about so people can go out and spread the word, listen to what’s needed, and try to meet those expectations. As managing director I’m able to share my experience and skills in a different way—mentoring and teaching our students, while working closely with faculty and our partners in industry. I started my own business in the past few years, and the work I did in London was at the frontier of what we were doing at the time. Here I get to combine much of that towards something new, all in a place that I care about. That’s meaningful, and it’s probably hard to script it much better than that, actually. For more about Ben Salm and the Securities Analysis Center, see www.lcb.uoregon.edu/sac. 17
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