Alumni Benefits
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THE MAGAZINE OF THE HAAS SCHOOL OF BUSINESS AT THE UNIVERSITY OF CALIFORNIA, BERKELEY University of California, Berkeley Nonprofit Organization Haas School of Business US Postage 545 Student Services #1900 PAID Berkeley, CA 94720-1900 Portland, OR Permit NO. 2917 Summer 2014 Toby Stuart, Expert in Ulrike Entrepreneurship Malmendier, and Networks Leader in Behavioral Economics Berkeley-Haas Alumni Take advantage Benefits of all that your degree provides. Faculty Rock Stars Meet the next generation of big thinkers at Haas haas.berkeley.edu/alumni/benefits Step outside of your day-to-day and return to one of the most stimulating business environments in the world. Summer 2014 FEATURES AND DEPARTMENTS The Faculty Issue EDITOR IN CHIEF Ronna Kelly, BS 92 UP FRONT EXECUTIVE EDITORS UPCOMING PROGRAMS Richard Kurovsky Ute Frey DESIGN Financial Analysis for Non-Financial Executives Cuttriss & Hambleton, Berkeley Sep 29-Oct 3, 2014 STAFF WRITERS Laura Counts, Amy Marcott, Pamela Tom The Berkeley Executive Leadership Program 2 Haas List Haas faculty teach Chinese CONTRIBUTING WRITERS Oct 6-10, 2014 leaders in a new executive- Ed Andrews, Andrea Appleton, level program in Shanghai. Steven Cohen, Kim Girard, Winfried Konrad, Dan Mitchell, 4 Haas News Marguerite Rigoglioso Women’s Executive Leadership Program Dean Rich Lyons on developing innovative leaders. PHOTOGRAPHY Oct 13-16, 2014 6 Power of Ideas Jim Block, Alex Fradkin, Prof. Terrence Hendershott Gabriela Hasbun, weighs in on high-speed Robert Houser, Joe Larese, trading. Karl Nielsen, Genevieve The Art of the Pitch Shiffrar IN THE BACK Oct 20-21, 2014 ILLUSTRATORS James William Gary, Thomas Porostocky The Innovative Organization Berkeley-Haas magazine is published by the Haas School Oct 27-21, 2014 of Business, University of California, Berkeley. For Profs. Ulrike Malmendier and Toby Stuart represent a new generation of award-winning researchers further information, contact: at Berkeley-Haas. page 8 Berkeley-Haas Corporate Business Model Innovation Magazine Editor 18 Your Haas Network Haas School of Business Nov 17-19, 2014 Alumni from the Raiders, University of California 8 Faculty Rock Stars Travelzoo, The Comptroller of Berkeley, CA 94720-1900 Meet professors Ulrike Malmendier and Toby Stuart, the next generation the Currency, Sterling Caviar, Berkeley-Haas Summer 2014, of big thinkers at the Haas School. The recipient of the American Finance and Shortcut Ventures. Number 86. Association’s prestigious Fischer Black Prize last year, Malmendier is 22 Campaign for Haas carving her own place in Berkeley’s long history as a pioneer in the field of Charles and Doris Michaels For change of address, email behavioral economics. Stuart, an expert in entrepreneurship, has built his step up support for trail- [email protected]. career studying networks while bringing his own powerful connections to blazing student-led fund. bear in his courses at Haas. 24 Worldwide Events All Berkeley-Haas Alumni enjoy special pricing for Alumni offer insights at HAASx. open-enrollment programs. 16 Going Public 26 Alumni Notes Two companies led by Haas alumni set their sights on the public markets. Graduates from the MBA 2011-2014 classes are eligible for 2 free 39 In Memoriam days of Executive Education within 5 years of graduating. 40 Personal View Lecturer Clark Kellogg 17 What’s Next reflects on creating a The class of 2014 reflects on post-graduate plans and their biggest take- different piece of art for Find the right opportunity for you, contact: aways from Haas. 365 days straight. +1.510.642.9167 | [email protected] Cover photograph by Gabriela Hasbun www.executive.berkeley.edu Summer 2014 1 Cal-Biz-Haas-06-23.indd 1 6/24/2014 12:52:53 PM Up Front Haas List Financial Students Engineering Entrepreneurship Trading Pros Soaring Vet Just before The 6graduating, a team Executive Education PhD of students in the Enrollment Wearable 4 Berkeley Master of Finance First Financial Engineering The image of a campus waging a war Revolution East Meets West Program took first on war has transformed with the place among U.S. 8The Haas School’s Lester Center for Entrepreneurship Finance teams and third overall times, and in recent years the Full- sewed up a new agreement with Intel to run the 1 Good among more than 50 time Berkeley MBA Program has seen Development Track of the semiconductor giant’s Investing rivals in the Rotman a nearly fourfold increase in students $1.3 million Make It Wearable Challenge. International Trading The challenge is a global call for teams that 3 Tapping into a with military backgrounds. push the limits of wearable technology, a market Competition, the new Berkeley Wired magazine predicts will become as big as crowdfunding platform, world’s largest trading “The education is world class and competition. the values are highly compatible with the smartphone. the Haas School’s UC Berkeley instructors lead by Lester Center Center for Responsible The team consisting what we learn in the military,” says of Varun Tomar, Executive Director Andre Marquis will guide 10 Business raised more Jose Fierro, MBA 15, who flew F-18s finalist teams through an intensive online accelerator than $250,000 this Michael Weber Weijian Chuah, Darren Ho, Ekaterina for the Marines for 16 years. from August to October, with a final week onsite at spring to scale up its Michael Weber, PhD 14, UC Berkeley. Each finalist team will get $50,000. The Socially Responsible Matrosova, Gursahib “The Berkeley MBA is a tremendous received a Top Finance Narula, and Wilson grand prize winner, as judged by executives including Investment Fund. The Graduate Award from the value for military students—no out- Intel CEO Brian Krzanich, will receive $500,000. center surpassed its Wong outflanked Copenhagen Business such schools as MIT, of-pocket costs plus a generous The Make It Wearable accelerator is built on Haas’ $100,000 goal, raising School, becoming the work leading a multimillion-dollar innovation program more than $125,000 Princeton, Stanford, housing stipend each month,” adds first Haas PhD student to Duke, Cornell, and for the National Science Foundation. It is also part of a from individual receive this honor. Weber Steve Weddle, MBA 15, a former new initiative at the Lester Center focused on helping donations and corporate the University of was recognized for his Chicago. The team Air Force captain. large corporations drive innovation using lean startup matches. That amount dissertation “Nominal principles. The initiative combines Haas Lecturer then was doubled earned “silver” in an Veterans also benefit from one-on- Rigidities and Asset interest-rate trading Steve Blank’s Lean LaunchPad framework for building by a matching gift Pricing,” in which he one career counseling for a diversity successful startups; principles of Open Innovation from alumnus Charlie case, “bronze” in a showed that the inability commodities trading of career options. “Being a student developed by Adjunct Professor Henry Chesbrough, Michaels, BS 78. (For of firms to adjust product PhD 97; and the design thinking strategies pioneered more see page 22.) case, and sixth in here, I feel I have a very good path prices to economic options trading. before me,” says Air by Senior Lecturer Sara Beckman. shocks exposes them to A second Berkeley Haas faculty are teaching Chinese leaders in Shanghai. higher systematic risk. team won “gold” in the Force Academy Weber will become an options case, earning graduate Tanya Faculty assistant professor at Haas faculty are providing an executive-level Executive MBA a cash prize. The team the University of Chicago Chavez, MBA 16, a Top 40 program in Shanghai that presents a Silicon consisted of Queeny part-time student who in July. Cheng, Jun Du, David Star Valley perspective on business, innovation, and Welcome Elledge, Mayank is applying her learn- Poets & leadership to top Chinese government leaders. Gupta, Rahul Gupta, ing at her job in the 9 Alumni Quants, a business school The three-year pilot program is a partnership Aboard and Alex Li. Seventy new students Satisfaction wine industry. “Haas news site, named Haas between Berkeley-Haas and the China Executive 2joined the Haas community in May as was a great choice.” Assistant Accounting Guaranteed Leadership Academy Pudong, one of three the 2015 class of the Berkeley MBA Berkeley MBA Professor Yaniv Konchitchki 5 to its annual “World’s Top preeminent Chinese government leadership for Executives Program, including alumni have the 7 40 Under 40” list of the best academies. Four times a year, a member of the four pilots, two medical doctors, a highest job satisfaction sustainability-focused urban architect, among all major full- young business professors. Prof. Yaniv Konchitchki Berkeley-Haas faculty will travel to Shanghai to and leaders from such influential time MBA programs in Since joining Haas in 2011, teach an intensive course focusing on current tech companies as Hewlett-Packard, the U.S., according to a Konchitchki has received many awards, including issues in business, innovation, and public policy. Apple, and Cisco. The second class of Forbes survey released the Earl F. Cheit Award for Outstanding Teaching the new program, which launched last in April. And Berkeley in 2013 and membership for three straight years Professor Andrew K. Rose, associate dean for year, boasts a breadth of international MBA alumni are the in Club Six, an honor given to faculty who receive faculty, taught the first course, on the impact experience, ranging from software second most satisfied the most favorable student evaluations. In August of European and U.S. monetary policy on the entrepreneurship in Japan to deep alumni overall among he will be honored by the Financial Accounting banking experience in China. Students U.S. full-time MBA and Reporting Section of the American Accounting Chinese economy, in May. Dean Rich Lyons will average 13 years of work experience, programs, according Association for co-authoring the best paper teach the next course, on innovative leadership, and 29 percent of the class hails outside to the survey of 4,600 Jose Fierro, MBA 15, flew F-18s of 2014, titled “Cost of Capital and Earnings in the Marines.