THE MAGAZINE OF THE HAAS SCHOOL OF BUSINESS AT THE UNIVERSITY OF CALIFORNIA, BERKELEY

BerkeleyHaasFall 2012 5 AMBITIOUS MBA FOR EXECS 13 AUdACIOUS MISSIOn In AFRICA 16 AT ThE FORE OF FInAnCE The new Berkeley MBA for Executives Patrick Awuah, MBA 99, aims to transform Prof. Mark Rubinstein plays a crucial role in will begin classes in May 2013. a continent through higher education. understanding options.

A Force at the Fed Vice Chair and Haas Prof. Janet Yellen Leads in Extraordinary Times The Berkeley-Haas Advantage Step outside of your day-to-day and return to one of the most stimulating business environments in the world.

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Negotiations and Influence December 3-5, 2012

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Boot Camp for Experienced Managers December 10-13, 2012

Product Management January 28-February 1, 2013

Berkeley Advanced Global Management March 4-15, 2013

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To find the right opportunity for you, contact: Kristina Susac, Director of Marketing and Open Programs +1.510.642.9167 | [email protected]

www.executive.berkeley.edu Fall 2012

FEATURES AND DEPARTMENTS The Leadership Issue EDITOR IN CHIEF Ronna Kelly, BS 92 UP FRONT EXECUTIVE EDITORS Richard Kurovsky Ute Frey DESIGN Cuttriss & Hambleton, Berkeley STAFF WRITERS Valerie Gilbert, Jennifer Ruppert, Pamela Tom CONTRIBUTING WRITERS Cari Carlson, Susan Chandler, 2 Haas List Victoria Chang, Deanna Duff, Top execs welcome Russ Mitchell, Jonathan new students. Rabinovitz, Stacie Stukin 4 Haas News PHOTOGRAPHERS An ambitious new Eric Don Arthur, Jim Block, Berkeley MBA for Cameron Davidson, executives. Alex Fradkin, Max Gerber, Joe Larese, Jeremy 6 Power of Ideas Sutton-Hibbert Spotlight on the Energy ILLUSTRATORS Institute@Haas. Doug Ross, Otto Steininger Berkeley-Haas magazine is published by the Haas School IN THE BACK of Business, University of California, Berkeley. For further information, contact: Berkeley-Haas Magazine Editor Federal Reserve Board Vice Chair Janet Yellen, a professor emeritus at Berkeley-Haas, chats before a Haas School of Business speech. page 8 University of California Berkeley, CA 94720-1900 510-643-0259 8 A Force at the Fed [email protected] Federal Reserve Board Vice Chair Janet Yellen, a professor emeritus at Haas, 16 Haas Network Berkeley-Haas Fall 2012, has been honored as the school’s 2012 Business Leader of the Year in recogni- Alumni in L.A., Tokyo, Number 91 tion of her intellectual leadership, dedication to teaching, and service to her Chicago, San Francisco, For change of address, email country during challenging economic times. Seattle, and Milwaukee. [email protected].

20 Campaign for Haas Ralph Bahna, MBA 65, 11 Audacious Mission in Africa of Priceline.com shares Ashesi University Founder and President Patrick Awuah, MBA 99, has been innovation lessons. recognized with the Haas School’s Leading Through Innovation Award for going beyond himself and questioning the status quo with his bold mission to 22 Worldwide Events develop leaders with the courage to transform a continent. Returning to Memorial Stadium. 14 At the Forefront of Finance 24 Alumni Notes During his four decades on the Berkeley-Haas faculty, Professor Mark 35 In Memory Rubinstein has played a crucial role in developing the world’s understanding of options markets. 36 Personal View The “I” in CIO stands for “Innovation.” Cover photograph by Cameron Davidson.

Fall 2012 1 Up Front Haas List

Faculty Go West, Young Profs 2Students 1 Undergrads Cultivate Culture

Undergrads are living and breathing the school’s Defining Principles in a whole new way thanks to a series of activities developed by the Haas Business School Association (HBSA), the undergraduate student government. Each month, HBSA Professors Toby Stuart, leaders are organizing an Ross Levine, and event related to a Defining Gustavo Manso Principle. In September, they launched a new finance case competition Haas kicked off the year with three new ship and the Administrative Science Quarterly’s to build Confidence Without Attitude. At least tenured professors from some of the Scholarly Contribution (best paper) Award. One of Stuart’s goals: teach students to think like half of each four-member East Coast’s top universities. entrepreneurs regardless of their fields. team was required to Toby Stuart, from Harvard, is the new Levine is the Haas School’s new Willis H. have no competition experience. More than Booth Chair in Banking and Finance. He co- Lester Center for Entrepreneurship 100 students signed up. faculty director. Professor Ross Levine, authored a new book, Guardians of Finance: “We wanted students from Brown, is one of the 10 most-cited Making Regulators Work for Us, which critiques without competition the role of U.S. and international regulators in experience to learn finance experts in the past decade. And causing global financial crises and proposes from students who Gustavo Manso, from MIT, already has strategies to improve their performance. have experience, won a teaching award since his arrival in Manso, an associate professor, received an which also gave those the spring. outstanding teaching award from Berkeley MBA with experience the students in his Corporate Finance class in the opportunity to apply “We continue to hire at the very top of the spring. Manso received the Swiss Finance Insti- leadership skills,” says faculty market,” says Dean Rich Lyons. “Great tute’s Outstanding Paper Award in 2010 and the HBSA President Tyler faculty attract great students and great staff a Review of Financial Studies Young Researcher Wishnoff, BS 13. “With virtuous circle.” Award in 2009. His research has revealed that so much participation, it Stuart researches social and venture capital combining tolerance for early failure with was an amazing learning networks and their role in the firm creation. reward for long-term success is effective in experience.” He received the 2007 Kauffman Prize Medal motivating both creativity and innovation. for Distinguished Research in Entrepreneur-

2 BerkeleyHaas Visit executive.berkeley.edu to learn more about executive education courses. Student Always HAAS DEFINING PRINCIPLE StudentsSt & Alumni Supercharged Welcome InnovationIn insights from IDEO General MManager Tom Kelley, MBA 83. A case StudentsSttuddeenntts sstudyt on Virgin America, with a surprise Women on 6 the Rise appearance by the airline’s CEO, David Executive A record num- Cush. And free iPads for PhD students. Education 3 ber of women Those were just some of the highlights enrolled in the Berkeley- Primer on Strategy Haas PhD and Full-time of orientation for the 850 new students The Center for Executive Education (CEE) is Berkeley MBA programs who joined the Haas community this fall. launching a new must-take strategy course in this fall. For the first time In addition to the talks by Kelley and June to train executives how to best respond ever, the incoming class Cush, alumnus Ralph Bahna, a pioneer to opportunities rapidly created and destroyed of Haas PhD students in today’s fast-paced, unpredictable business includes more women in the travel industry (see page 20), gave landscape. Led by Toby Stuart, the new Lester (8) than men (7). In the a rare public speech during Orienta- Center for Entrepreneurship faculty director Full-time MBA Program, tion Week for full-time Berkeley MBA (see #1 on preceding page), the Strategy the proportion of women for Competitive Markets course will teach broke the 30-percent students. Orientation for evening and practical methods for formulating and executing mark, with women com- weekend MBA students featured a talk by strategy for business units and multi-business prising 33 percent of the Annie’s Inc. CEO John Foraker, MBA 94, corporations. Alumni enjoy a 15 percent discount incoming class. on all CEE classes. For more information contact on successful teambuilding. Kristina Susac at [email protected]. New Haas undergrads got to know each other through an interactive game thatt inin- corporated Twitter, while the school’s 1155 new PhD students received iPads as partart of a pilot program to reduce paper use aandnd 4 printing costs. Rankings 7 Top of List FacultyFacult Haas placed #3 in the U.S. News & World Report BestBes Book September ranking of the nation’s business under- AwardAw graduate programs. The ProfessorProfes David Vogel Full-time Berkeley MBA hahass wowonn ththee AcAcademyaddemmy of MManagementanag Organization Program placed #2 in aandnd tthehe NNaturalatural EnvirEnvironmentonment DiDivision Book Award Hispanic Business maga- for The Politics of Precaution: Regulating Health, zine’s August ranking of Safety, and Environmental Risks in Europe and the 5 United States. the business schools for Hispanic students. The In The Politics of Precaution (Princeton University Economist ranked the Press, April 2012), Vogel describes a shift toward Full-time Program #6 greater regulation to manage risk in Europe than in worldwide in October. the United States in the last five decades. And the Berkeley Master One Academy of Management judge called of Financial Engineer- Vogel’s book an “excellent historical explanation ing Program was named of what happened to environmental, social, and among the nation’s top health regulation in the U.S. and rest of world in 10 quantitative finance last 40 years.” programs by Advanced Trading magazine.

Fall 2012 3 Virgin America CEO David Cush Up Front Haas News

BY THE NUMBERS Record Sowing New Ideas Fundraising Professor David Teece takes helm at Institute for Business Innovation Alumni and friends As the new faculty director of the shattered several records Institute for Business Innovation with their donations to the (IBI), Professor David Teece is Haas Fund in the last fiscal setting his sights on launching new year, demonstrating their programs to support research on deep gratitude to the school. the management of intellectual Show your gratitude and property and the impact of break even more records information technology on this fiscal year by giving at business and the economy. haas.berkeley.edu/givenow. Teece succeeds Haas Professor Michael Katz, who took a three- year post on the UC Berkeley $3.3m Michael Nurick, Chung Seo, Ashlee Adams, and Bri Treece, all MBA 13, Budget Committee. Also joining total Haas Fund support make a straw tower during a teamwork exercise at Orientation Week. IBI is new Executive Director Maria Carkovic, former director of Brown University’s Program in Working Together Commerce, Organizations, and David Teece and 4,286 Haas expands MBA teamwork toolkit Entrepreneurship. donors Maria Carkovic IBI promotes interdisciplinary MBA students are gaining more rigorous training on research, instruction, and corporate outreach on innova- collaboration and teamwork starting this fall semes- tion, entrepreneurship, and technology. It oversees the $711 ter as part of the school’s Berkeley Innovative Leader Lester Center for Entrepreneurship; Fisher Center for Development (BILD) curriculum. Management and Technology; and Garwood Center for average alumni gift Brandi Pearce, an organizational behaviorist who Corporate Innovation. recently joined Haas, began teaching full-time MBA Teece and Carkovic already are exploring a signature students in an experiential format about effective col- annual event on entrepreneurship and innovation that $209k laboration during Orientation Week. Students’ first would involve the Lester and Garwood centers. New Alumni Challenge assignment with their semester-long study teams: Build “We aim to rejuvenate existing programs and launch matching funds the biggest tower with straws and tape in 10 minutes. new ones focused on intellectual capital,” says Teece, The myriad of towers demonstrated people often a world-recognized authority on strategy, innovation, approach the same problem in very different ways. and intellectual capital, who served as director of IBI’s Students also got a quick taste of what it will be like to predecessor organization from 1982 to 2009. “I also want 2,062 work together, helping to inform their collaboration to explore the online world, particularly online education, online gifts plans—their next assignment. The teams are designed to innovation, and the management of technology.” maximize diversity to prepare students to work in a global context across a wide array of boundaries, Pearce says. 407 Pearce also teaches students how to be active New @cal Directory listeners, provide constructive feedback, and create Non-alumni donations a collaborative environment so people feel safe tak- Complements LinkedIn ing risks. Similar training will be added to a mid-year Alumni asked to update their profiles retreat for part-time MBA students. 62% The new @cal Alumni Directory launched this fall, giving Berkeley-Haas alumni access to all 400,000+ Portion of full- FEEDBACKFEEDBACK From From OurOur ReadersReaders time students (BS Cal grads, including 36,000 business school alumni. & MBA) who gave Today,Toda reading the “Power of Culture” piece in Now alumni are being asked to check their profiles or pledged to their Berkeley-HaasBer Magazine, I once again found for accuracy, to add more profile information, and to class campaign. myselfmy dreaming about re-immersing myself in encourage classmates to follow their lead. thethe culture as an MBA—to the point that I wish “If everyone confirms and contributes updated infor- I hahadn’t been there as an undergraduate so I (m represents million, mation to the alumni directory now, the Haas Alumni k represents thousand) couldco be more likely to have the opportunity to Network will become more beneficial, useful, and valu- return!!re able very quickly, ” says Tenny Frost, executive director Haas Fund donors AliciaAl P. Salmeron, BS 12 of Haas Alumni Relations and Development. may direct gifts to CongratulationsCongratulat on the new Berkeley-Haas! I like the The directory is expected to serve as a complement school-wide support, new format. The magazine is interesting reading—and a to the popular social networking site LinkedInbecause Dean Rich Lyons’ initiatives, good representation of what Dean Rich Lyons is doing. I only @cal contains all Haas alumni and only @cal can faculty support, or any send my admiration. verify someone’s degree. degree program. Former Dean Budd Cheit Alumni can log in to @cal from the Haas Alumni Send feedback to [email protected]. Website or at cal.berkeley.edu.

4 BerkeleyHaas Up Front

Visit mbaforexecs.haas.berkeley.edu to learn more about the new Berkeley MBA for Executives.

Teaching Q&A with Jon Kaplan, Executive Director, Part-time Berkeley MBA Programs the Teachers Haas hosts An Ambitious New MBA startup training The new Berkeley MBA for Executives will begin classes in May 2013. The Lester Center for Entrepreneurship hosted An insider’s look at Washington, D.C., with Professor issues, which is ideal for executive MBA students, more than 60 university Laura Tyson. A trip to Shanghai to learn about who come from higher levels of organizations and faculty from around international business led by Haas Asia Business could benefit from learning how to more effectively the country for a three- Center Director Teck Ho. A new applied innovation work with their boards. day Lean LaunchPad course with Senior Lecturer Sara Beckman. Those The trip to Shanghai led by Asia Business Center Educators Program are among the unique offerings planned for the Director Teck Ho will explore issues related to inter- in August. inaugural class of the Berkeley MBA for Executives national business specific to Shanghai or Chinese Haas Lecturer Steve Program, which will arrive at Haas in May 2013. relations with the U.S. A trip to Shanghai offers a tre- Blank and Lester Center To learn more about the program, Berkeley-Haas mendous learning opportunity because substantial Founding Executive magazine talked with Jon Kaplan, executive director private equity and VC money is flowing from there Director Emeritus Jerry of part-time Berkeley MBA programs. Kaplan joined to fund projects in Silicon Valley. Engel taught the cutting- Haas in March after working at UCLA Anderson and edge Lean LaunchPad Chapman University in Orange County. How have Berkeley-Columbia Executive MBA approach to teaching graduates helped shape the new program? entrepreneurship, which How is Haas adapting its Innovative Leader We had an alumni focus group in June that gener- curriculum to the MBA for Executives Program? ated some great ideas, in particular the Washington, Students will learn to better navigate the innovation D.C., trip, and we hold monthly calls with an alumni process by taking the school’s unique Problem Find- advisory board. We also recently added one staff ing Problem Solving course during the first semester. member who is dedicated soley to career services for The class is a cornerstone of our Innovative Leader both the Berkeley-Columbia and new Berkeley MBA curriculum and will give our students the skills to for Executives programs. find, frame, reframe, and solve difficult problems. Haas also has homed in on four key capabilities that What will make the new MBA for Executives we believe an innovative leader should possess. Those Program stand out the most from the competition? capabilities will be woven throughout the courses in The simple answer is Berkeley. The unique culture the MBA for Executives Program, just as they are for of Berkeley-Haas and our Innovative Leader our other MBA programs. (The capabilities are: frame curriculum produce a different kind of leader than problems; experiment to learn; navigate uncertainty; other business schools. We are keenly and influence beyond authority.) focused on developing forward-looking Lecturer Steve Blank leaders who know how to harness How will the new program for execs differ from new ideas and put them into action. emphasizes experiential other Berkeley MBA programs? In addition, we will be reaching learning and immediate Full-time MBA students need in-depth experiential out across campus to bring in spe- feedback to engage learning to develop what they learned in the cial-topic speakers—speakers, for students with real-world classroom. It’s different for the Evening & Weekend example, from Lawrence Berkeley entrepreneurship. and the new MBA for Executives programs because National Lab, the School of Infor- Instead of relying on case students work full time and hopefully integrate what mation, the Engineering School. studies or market research, they learn into their workplaces. But there is some That’s unique to Berkeley. the Lean LaunchPad evidence that students do that less than they could. So I always encourage prospective challenges students to we’re creating a class called Applied Innovation led students to visit the schools they’re create their own business by Senior Lecturer Sara Beckman and her colleague interested in, and inevita- models. Students learn by Michael Barry from the Stanford Design Program. bly they’ll get a feel for proposing and immediately Students will dive in and apply the concepts that whether a school is testing hypotheses and by they’ve learned to a complicated business challenge. a place where they “getting out of the building” Then they’ll have an international business trip in can feel comfort- to talk to customers, which they more deeply explore the challenge from able. I just think partners, and competitors. a global perspective. Haas is a really Blank previously taught easy place to his Lean LaunchPad course Talk more about the D.C. and China trips. feel like you’re to students in the Berkeley- Laura Tyson is very excited about teaching the D.C. at home. Columbia Executive MBA course. She has an incredible network in D.C. and has and Evening & Weekend mentioned some very recognizable people who may Berkeley MBA programs be able to speak to our students. and will teach it to full-time We may integrate an innovative project into the Berkeley MBA students trip. We also are exploring focusing on governance this spring.

Fall 2012 5 Up Front

Power of Haas Ideas Spotlight on the Energy Institute at Haas

FROM THE HAAS SCHOOL’S ENERGY ECONOMICS EXCHANGE BLOG

Energy Rebound Upside Energy efficiency increases use, which can add economic value.

By Prof. Severin Borenstein Energy efficiency (EE) discussions never get far before someone raises the specter of “rebound”—con- sumers’ response to an energy efficiency improvement that causes them to increase energy consumption. Your car gets better fuel economy, so you drive it more. You replace incandescent lights with efficient compact fluorescents, so you light up the driveway and doorway while you are out for the evening. EE rebound is often treated as a failure. Many in the EE community act as if it is our dirty secret and claim it is minimal. Some opponents of government policies to support energy efficiency investment argue that re- bound is so large that it wipes out the entire energy sav- ings from the investment, an outcome called “backfire.” But rebound is a good thing. It’s economic value cre- ation. When your car gets better fuel economy, you are better off even if you drive no more. But if you find new uses for the car now that it is cheaper to run, then you are getting even more value out of the car. Likewise, leaving those low-cost lights on when you go out has real value: You don’t have to feel around in the dark or risk running over toys in the driveway. Rebound is a benefit of EE in- vestment, not a drawback. It signals that the investment has made consumers even better off than the simple gain from using less energy. If you are worried about greenhouse gas emissions (GHGs), that view of rebound may be cold comfort. But the consumer’s gain from rebound can support policies to reduce emissions. An example: A new insulation technology would make a home more energy efficient but cost about as much as (or a bit more than) it would save the consumer, given typical thermostat settings. With the greater energy efficiency, however, the consumer keeps the house warmer in the winter and cooler in the summer, because the extra comfort is less expensive after the EE improvement. That is extra value. If the no-rebound energy savings calculation was about (or not quite) break-even, the ex- tra value from a more comfortable temperature setting makes it a winner for the consumer. Consumer gain from rebound means more com- plementary policies that decrease GHGs, such as a simultaneous tax increase on electricity, can be adopted while still leaving the consumer better off. Opposing energy efficiency because of rebound makes no more sense than opposing electronics innovations because they increase energy use. Any value-creating ac- tivity is likely to boost energy consumption. The question is how we channel that value creation, and whether we are wise enough to use our newfound wealth to solve society’s most pressing problems, including climate change.

6 BerkeleyHaas ILLUSTRATION BY OTTO STEININGER Up Front

Stay up to date with the latest discussions on energy at energyathaas.wordpress.com.

Business solar photovoltaic cells or business models to be a new enzyme to convert fully developed when Model plant matter to biofuels. scientists perfect the Innovation As important as such technology. technology innovations Standard setting also Another way to are, another kind of inno- can encourage business- transform energy vation is crucial to meeting model innovation. Consider the challenges associated commercial office space By Elizabeth Bailey and with energy use. loans. Recent research Catherine Wolfram We’re talking about by our Haas colleagues innovations in business suggests that office build- models and practices— ing owners and lenders everything from how a would benefit if loans company runs its own recognized a building’s business to innovative energy costs. Commercial ideas for starting new developers would profit ones and creating new by making their buildings markets. When companies more energy-efficient, and embrace novel ap- lenders would reduce their proaches, they open new exposure to the risk associ- opportunities for drasti- ated with large fluctuations cally reducing energy con- in future energy costs. This, sumption or expanding the in turn, could spur more use of alternative sources building retrofits and the of energy, as solar panel adoption of energy-effi- leasing demonstrates. cient technologies, such as So, how can we ensure new windows that reduce that innovative business the heat that passes models continue to trans- through the glass. form the energy sector? At present, however, Companies have the it’s difficult for lenders incentive to innovate if they to incorporate energy Elizabeth Bailey (top) and can reap the rewards of efficiency into commercial Catherine Wolfram (bottom) their creativity by offering a underwriting decisions be- This is a shorter version of a unique product or service. cause they don’t get good Wall Street Journal op-ed. Unlike technological in- information on a building’s novations, such as a new energy consumption. To Until 2008, most people solar cell, business-model evaluate risk, underwrit- paid for rooftop solar innovations, such as the ers need standardized panels upfront, laying out idea of leasing, often can- reports to help determine $15,000 to $60,000. That not be protected with a if an investment would use cost limited the residen- patent or kept secret from more or less energy com- tial solar panel market to competitors. After all, many pared with peer buildings. cash-rich homeowners, solar installation compa- Setting such standards restricting growth. nies now offer solar leases. would encourage lenders Then came solar leases, As a starting point, we to take advantage of new which allow customers to need to recognize the opportunities in commer- make monthly payments importance of business- cial underwriting. of as little as $100 and model innovations in the Once again: No scien- pay nothing upfront. The energy industry. For ex- tist, no lab, no technol- result: The market has ample, solar installations ogy breakthrough. Just opened up to a new group are subsidized through a new way of thinking of homeowners, and third- a number of federal and about what a business party-owned residential state programs, which does, and how it does solar installations have lower the price to custom- it. That’s how business- taken off. In California, the ers. While some question model innovation can biggest solar market, most promoting a technology address today’s energy customers are now opting working its way up the challenges. for third-party installations. development curve, it’s Elizabeth Bailey is execu- useful to recognize that Energy innovation tive director of the Energy typically calls to mind a subsidies also encourage Institute at Haas and scientist in a lab, working business-model innova- Prof. Catherine Wolfram with new materials for tion and can enable better is faculty director.

Fall 2012 7 2012 Business Leader of the Year A Force at the Fed Vice Chair and Haas Prof. Janet Yellen Leads in Extraordinary Times

By Russ Mitchell

The Great Depression left a strong impression on Learning from Students young Janet Yellen. She often heard stories at dinner- Yellen recalls being good at math as a kid. Her mother, time about the hardships suffered during the worst a teacher, had an unusual (for the time) interest in chapter in U.S. economic history while she was grow- finance, which rubbed off. Those influences led ing up in 1950s working-class Brooklyn. Yellen to study macroeconomics at Brown and then “My mother and father were pretty traumatized Yale. She then worked at the Fed, Harvard, and the by the Depression,” Yellen says. Her father, a doctor, London of School of Economics early in her career, but struggled for years to make a decent income in a com- she credits her 26 years as a professor at Haas for hon- munity with so many out of work and without insur- ing her leadership skills. ance. “I remember thinking, this is something our “Business students are very oriented to playing a country should never live through again.” role in the real world and accomplishing something, Decades later, now vice chair of the Federal Reserve not training themselves to be scholars and contribute Board, Yellen is one of the nation’s leaders responsible to the literature,” she says. “Teaching in that kind of for making sure it doesn’t happen again. Helping steer environment has focused me much more on the real the economy through its worst stretch since the 1930s, world, how pieces of the theory I know can be applied she casts one of 12 votes on the Fed’s Federal Open to real-world situations. Market Committee, which sets monetary policy. Yet The situation Yellen is dealing with now is quite se- her influence goes well beyond her single vote. With rious. Although the worst of the financial crisis seems her powerful intellect; ability to absorb, interpret, and behind us, the economy remains stuck with high un- communicate complicated data; and engaging manner employment and mired in slow growth. Two rounds of that often wins people over through well-crafted ideas, “quantitative easing” by the Fed—basically buying lon- Yellen has emerged as a key figure in the quest for the ger-term Treasury and agency bonds to lower longer- nation’s economic recovery. term interest rates and thereby induce business in- vestment and consumer spending—have helped keep the economy from worsening but haven’t sparked a re- surgence. In September, the Fed embarked on a third “She is very highly round of quantitative easing that involves buying large quantities of bonds, with a focus on mortgage-backed regarded by securities, until the jobs market improves. “This is by far the most serious financial crisis since everybody around the Great Depression,” Yellen says during a recent trip home to Berkeley from Washington, D.C. “It’s unprece- the table, and her dented that so many countries have gotten to this point where we’re using non-traditional policy options.” views are listened Short-term interest rates have been near zero for years, she notes. “This happened for a while during to very closely.” the Great Depression, but long-term Treasury rates, which we’re trying to push down, have hit the lowest –Fed Chair Ben Bernanke levels. In U.S. economic history, that’s extraordinary.” Basically, low long-term rates indicate a lack of appe- tite for investments that produce growth—and jobs. “She is an intellectual leader on that committee,” The situation has become so discouraging that Fed Chair Ben Bernanke told Berkeley-Haas magazine. many Fed policymakers, even some seen as “hawks,” “She’s very persuasive and effective.” agree more actions may need to be taken, according Because of her intellectual leadership in the field of to the Wall Street Journal and other financial publica- economics, her dedication to teaching for more than tions. Fed hawks tend to worry more about inflation two decades at Haas, and her service to the country at risks; doves tend to worry more about subpar employ- the Federal Reserve, the Haas School is honoring Yel- ment. Thus, in any given situation, a hawk might sup- len this fall as its 2012 Business Leader of the Year. port a tighter monetary policy than a dove. The finan- cial media consider Yellen a dove.

PHOTOGRAPH BY CAMERON DAVIDSON 8 BerkeleyHaas Janet Yellen at the Federal Reserve Bank in Washington, D.C. Fall 2012 9 Keynesian Marriage Key Yellen Years resisted establishing a formal Fed infla- She is, in fact, an unabashed Keynesian. tion target, both Yellen and Bernanke John Maynard Keynes, the famous De- pushed for the move during the 2000s. pression-era economist, argued private- Aug. 13, 1946 In a 2006 paper, Yellen said such a move sector markets aren’t always efficient and Born in “could further enhance the credibility at times government must intervene. When Brooklyn, NY of the Fed and…not only for controlling the economy contracts and unemployment inflation but for stabilizing employment rises high, modern-day Keynesians would and output.” ease monetary policy by lowering inter- Yellen was sworn in as the Fed’s vice est rates and ease fiscal policy by raising chair in October 2010 after being nomi- spending or cutting taxes. nated by President Barack Obama and 1967 Graduates from Even Yellen’s marriage can be traced to confirmed by the U.S. Senate. In Janu- Brown with degree in Keynesian roots. She met her husband, UC 1971 Earns PhD economics ary of this year, the Fed took the historic Berkeley economist and Nobel Laureate in economics step of establishing a formal numeri- George Akerlof, at a late 1970s econom- from Yale 1971-76 cal inflation objective for the first time. ics seminar in Washington, D.C. “We liked Assistant Professor in Some liberal commentators like Nobel each other immediately,” Akerlof recalls in Economics, Harvard Laureate and New York Times columnist an autobiography. “Not only did our per- 1977-78 Paul Krugman push for higher inflation. sonalities mesh perfectly, but we have also Economist at the Yet Yellen, who takes the Fed mandate always been in all but perfect agreement Federal Reserve of price stability as seriously as the one about macroeconomics.” to maximize employment, clings like a Yellen confirms the mind-meld. “We hawk to the 2% target. both come at (economics) from a Keynesian “In government institutions and tradition,” she says. “While admirers of cap- in teaching you need to inspire confi- italism, we also to a certain extent believe it 1978-801978 80 LLectures dence,” Yellen says. “To achieve cred- has limitations that require government in- at London School of ibility, you have to very clearly explain tervention in markets to make them work.” Economics what you are doing and why. The same While other Fed members have different principles apply to businesses. The trust 1980 Joins views on levels of government intervention, institutions have in the marketplace, the Haas faculty Yellen says too much is made of a hawk- confidence customers and suppliers and dove division. “We are a highly apolitical workers and employees have, are very group,” she says. important to a business’s effectiveness.” Still, there are differences of opinion. While she admits the Fed and the The Fed has two goals: maximize employ- economics profession in general need ment and maintain price stability. Get too 1994-971994 97 Serves to take some blame for the financial easy with credit and money creation, and on Board of crisis—“we weren’t as diligent or in- inflation becomes a big risk. “There are a Governors, Federal sightful about the threats that were de- lot of views around the table, and about the Reserve System veloping as we could have been”—a fail- ability and appropriateness of policy,” she ure of business leadership also needs says. “We debate things very actively. It’s 1997-99 Chair, to be acknowledged. “It really was a good that there are diversities of view be- President’s shock that the managers of some of the cause I think a problem for institutions in Council of world’s largest financial institutions re- Economic general is groupthink.” ally seemed not to have a grasp of what Advisors under “She is very highly regarded by every- Bill Clinton they were doing.” body around the table, and her views are lis- If business schools are partly to blame tened to very closely,” says Bernanke. for business leadership failure, Yellen Haas Professor James Wilcox knows 2004-102004 10 President does not include Haas among them. “The why. Wilcox was close to Yellen during her and CEO, Federal typical student at Haas learns about the years at the business school and remains Reserve Bank of importance of leadership in fostering San Francisco a friend. Her thinking, he says, is rigorous, the kind of organizational culture that but in the face of facts, there’s nothing stub- 2010-present creates a sense of identity and shared born about her: “It’s not that she doesn’t Vice Chair, Board mission, that creates a commitment to have opinions; she often has strongly held of Governors, wanting to achieve the goals of the orga- opinions. But when she has a train of logic, Federal Reserve nization. I think a lot of that was missing she follows it to where the logic leads her in some of these financial institutions.” and accepts the results, no matter what her Yellen’s Fed appointment lasts 14 personal views might be.” years, so she’s not thinking about next career moves. At some point, though, Credible and Transparent she and her husband want to make “Credibility” is a word that’s been applied to Yellen Berkeley their main home again, and she’d like to throughout her career. Along with Bernanke, she’s form a new relationship to Haas. “It’s a wonderful made increased credibility a priority at the Fed. As university,” she says, “a terrific business school, a CEO of the Federal Reserve Bank of San Francisco terrific economics department, the place is beauti- from 2004 to 2010, she pushed for more transparency ful, the weather is gorgeous, the people are lovely, and in Fed deliberations and for publicly clarifying its poli- the students are excellent.” BH cy framework. While former Fed Chair Alan Greenspan

10 BerkeleyHaas Patrick Awuah, MBA 99, over- looks a gathering at Ashesi University in Ghana, which he founded in 2002.

2012 Leading Through Innovation Award “ held my breath and thought, ‘Oh dear.” Patrick Awuah, MBA 99, is recalling a mo- ment a decade ago when his dream of establish- I ing Africa’s first private secular liberal arts col- An Audacious lege—Ashesi University—was being dashed. After months of seeking a hearing before Ghana’s college accreditation committee, he finally was presenting Mission in his case, and the chair was not impressed. In a coun- try where large public universities and an empha- sis on rote learning prevail, the authorities thought Africa Awuah’s plan to build an Ivy League-type school was about as realistic as opening a Disneyland in the Sa- Patrick Awuah, MBA 99, hara. It didn’t help that Awuah, 35 at the time, looked aims to transform a even younger. And then, without skipping a beat, Awuah recalls, continent through education he laid out the vision he had been developing over the previous three years. He presented the financial plan, detailed the money he had raised, and warned By Jonathan Rabinovitz that he could not afford to burn through any more cash waiting for approval. He pointed out where

PHOTOGRAPH BY ERIC DON ARTHUR Fall 2012 11 Watch a video about Patrick Awuah, founder of Ashesi University in Ghana, and the Haas School’s International Business Development Program.

the campus would be built and explained the bigger Ghanaian enterprises, nonprofits, and government. picture: How change could only come to Africa if it While an estimated one-third of African professionals had a new generation of entrepreneurial, ethical lead- have left Africa in the last 20 years, nearly all of Ashesi ers—and that’s just what Ashesi would produce. He graduates stay on the continent. discussed how computer science and business majors “The students are on par with U.S. MBA students,” need to study philosophy, why small classes are better says former Haas Professor Jonathan Berk, now at suited to teach technical skills, and how the new uni- Stanford, who recently visited Ashesi with a global versity would require community service. study class traveling through Nigeria and Ghana. “We The commission chair sat back, digesting what he were asking employers afterward where they were hir- heard: It was a bold, hardheaded proposal free of any ing from, and they were saying Ashesi is the place we look to first.” Berk and the students had a sit-down session with Awuah to discuss Ashesi. “I walked out of there, and I I knew I had to go back. was blown away,” says Berk. “He had the idealism and the vision—and the ability to pull it off. He is one of the I didn’t have the power most impressive people I’ve ever met.” Awuah has won the Aspen Institute’s John P. Mc- to disown a continent. Nulty Prize for extraordinary young leaders and the Microsoft Alumni Foundation’s Integral Fellow Award fanfare; the I’s were all dotted and the T’s all crossed. It for making a difference in the lives of others. Today, was vintage Patrick Awuah. “We’ll let you try this ex- however, he could still pass as an up-and-coming en- periment,” the chair announced. gineer at Microsoft, where he worked for almost a de- This year Ashesi is celebrating its 10th anniver- cade. At an interview during a Bay Area visit, he wore a sary, and in recognition of Awuah’s audacious vision crisp blue button-down shirt and sharply creased kha- and impressive accomplishments, Haas is awarding kis. He was checking messages on two phones simulta- him the school’s Leading Through Innovation Award neously, a Nokia for the United States and a Blackberry at its annual gala in San Francisco in November. “Pat- for Ghana, as he prepared for a meeting with Google rick Awuah has gone beyond himself, questioning the executives. status quo with a bold mission to develop a generation of ethical, entrepreneurial leaders with the courage to Tech Beginnings transform a continent,” says Dean Rich Lyons. “We Growing up in Ghana, Awuah wanted, for a brief spell, couldn’t be more proud of his vision and tenacity.” to be an astronaut and then turned to engineering. His parents, who left rural villages to become members Reversing a Brain Drain of a nascent middle class in Ghana, stressed educa- Ashesi means “beginnings” in the African language tion, and he left home in 1985 with $50 in his pocket Twi, and the name mirrors the school’s ambitions. and a full scholarship to Swarthmore College. Over the “We’re trying to train leaders of exceptional integrity, next four years its liberal arts education showed him who can lead a renaissance in Af- the power of critical thinking and rica,” Awuah says. “There have asking questions, a stark contrast been times when it has seemed Leading Through to his prior schooling. After grad- like Mission Impossible, but magic Innovation uating he rose through the ranks is happening.” to become a program manager Six-hundred students are now Award Winners at Microsoft and got married. He enrolled at Ashesi, a stunning, Established in 2009, the Leading was settling into a comfortable new 100-acre campus perched on Through Innovation Award neighborhood in Seattle, making a hillside overlooking the capi- celebrates Haas alumni who have a lucrative salary and loving his tal city of Accra. It has lush green achieved excellence as innovative work. He had no interest in re- lawns and palm trees, covered leaders and who embody the turning to Africa. walkways and light-filled class- principles of the school’s Leading And then his son was born. “I rooms, dormitories, and a library. Through Innovation strategy. knew I had to go back,” he says. The university also has a balanced Patrick Awuah, MBA 99, Founder, He could no longer ignore Africa’s budget, with tuition revenue cov- Ashesi University problems, because those prob- ering operations, and has raised Bob Lutz, BS 61, MBA 62, Retired lems would be bequeathed to his more than $10 million in philan- Vice Chairman, General Motors children. (His daughter was born thropic gifts. six years later.) “I didn’t have the Already its 420 graduates are Tom Kelley, MBA 83, General power to disown a continent.” Manager, IDEO taking on leadership roles. Within Awuah spent a couple of years six months of completing school, Henry Chesbrough, PhD 97, considering how he could make almost 100 percent of Ashesi’s Executive Director, Garwood Center a difference. He and his wife ex- graduates are placed in jobs at for Corporate Innovation, Haas plored starting a software busi- international firms as well as in ness, but he saw Africa trapped in

12 BerkeleyHaas a seemingly unending cycle: bad policy decisions caused poverty and strife, which gave rise to cor- ruption and weak institutions, which fostered bad policy decisions. “It seemed like it came back to leadership,” he says. “Education seemed the best way to change that.” Awuah’s focus on education coincided with a shift in Ghana toward democracy and free mar- kets. The government, which had limited higher education to public institutions, opened the door to accrediting private universities. Awuah thought about how his experience at Swarthmore had Building a Dream transformed him. He saw how the existing univer- Awuah taps Haas early and often sities were terribly overcrowded and how fossil- ized their education had become. Professors read the same lectures year after year; students wrote down what they were told. The only option for Ashesi Univer- students who wanted a better education was to go Earlier this year, Patrick Awuah, MBA 99, the president of Ashesi University in Ghana, held a series of telephone sity founder Patrick abroad—and that was expensive. He saw demand Awuah (center), MBA for a new approach. conversations with four Berkeley MBA students that 99, asked Berkeley So in September 1997, Awuah enrolled in busi- began with a potentially touchy question: What should MBA students Amir ness school. “Going to Haas was to prepare me to Ashesi do if Awuah were to die? Khan, Melissa Raw- understand how an organization works—it was my lins, Flora Kuo, and education so I could do what I wanted to do,” he As part of their International Business Development (IBD) Nick Mascioli, all MBA says. Haas played—and continues to play—an im- class, the students had been assigned to consult with Awuah 13, to help with suc- portant role in Ashesi’s growth. (See adjacent ar- about handling such a crisis. What began as a dialogue about cession planning. ticle.) A few years after Awuah graduated, Ashesi emergency succession planning soon turned into a deeper began offering classes. inquiry about how the university could rely less on its leader and founder and do more to develop its staff while enhancing Role Model its recruiting pipeline for outside talent. The IBD team traveled Yawa Hansen-Quao was among Ashesi’s first stu- to Ashesi in May to assess the situation firsthand and develop dents. “I was looking to U.S. colleges, but when I recommendations. heard about Ashesi, the vision resonated with me,” It was the latest chapter in the strong, ongoing relationship she writes in an email. “Ashesi was the best of both between Ashesi and the IBD Program, which assigns teams of worlds, a quality curriculum based on the U.S. lib- students to management consulting projects around the world. eral arts core, blended with the African cultural The bond can be traced to Awuah’s second semester at Haas in context and leadership focus.” She became stu- 1998, when he had enrolled in IBD. He was asked to select his dent body president, the first female to be elected choice of assignments when he noticed that there were none president of a college-level student government in Africa. He asked why and was told the professors didn’t have organization in Ghana. Since graduating, she has contacts there. “Well, you have one here,” said Awuah, who was started a successful travel business and founded a born and raised in Ghana. nonprofit that helps young women advance their A few months later, Awuah was flying to Accra, Ghana’s careers. capital, with three classmates to assess the prospects and “Patrick’s ability to walk away from Microsoft pitfalls of establishing a private secular liberal arts college to start something he truly believed in really has there. They drafted a feasibility plan, and Awuah persuaded been a reference point for me,” she says. “He lives IBD partner Nina Marini, MBA 99, to work full time to turn the the ideals Ashesi stands for and teaches.” plan into a reality. Awuah had come to Haas to gain the skills Awuah, meanwhile, shows no sign of slow- needed to launch such a venture, planning to begin work on it ing down. “It’s clear that we have to do more than after graduation. “I hadn’t anticipated it would literally start at we’re doing,” he says. Under a new 10-year plan, Haas,” he says. Ashesi’s goals include recruiting more students Since then, at least nine other IBD teams have visited Ashesi, from Africa beyond Ghana; expanding academic advising on everything from branding strategy to budgeting program to include engineering and applied sci- to new curriculum offerings. This year, students advised on ences, management and economics, and law and talent development, recruitment, and succession planning. society; and planning for succession. “We helped them think about the evolution from a startup “There are two ways to measure leaders: What to a larger organization that needs to be more rigorous in its do they accomplish when they are at the helm, and business operations,” says Nick Mascioli, MBA 13, a member what happens when they are no longer there,” he of Ashesi’s IBD team. “What really resonated for me afterwards says. “I need to think about Ashesi when I am no was how much Patrick thanked us for our work,” added Amir longer around. How do we build systems so that we Khan, MBA13. “We gave them a lot of actionable items and can operate forever?” BH sufficient guidance to tackle those tasks.” BH

Fall 2012 13 Prof. Mark14 RubinsteinBerkeleyHaas in his home library in 2002. Faculty Giants: Mark Rubinstein At the Forefront of Capital Markets

By Victoria Chang

Terms like portfolio insurance, exotic options, and the The market eventually recovered, and the crash binomial options pricing model may mystify most peo- may have warded off a real recession by bringing stock ple, but to Professor Emeritus Mark Rubinstein, they prices back down to reality, according to Rubinstein represent an illustrious career breaking new ground in and other economists. Traders today still use strate- finance. gies that are not called the same thing, but are roughly Rubinstein, who retired earlier this year after nearly equivalent to portfolio insurance. 40 years on the Berkeley-Haas faculty, is part of a gener- Nor did the experience hinder Rubinstein’s intel- ation of pioneers who have forever changed how finan- lectual prowess. Subsequently in the early 1990s, cial assets are created and priced. The group includes Rubinstein, Leland, and O’Brien invented Super such Nobel Laureates as Robert Merton, Myron Scho- Shares, the precursor of the exchange traded fund (a les, and Bill Sharpe. mutual fund traded on the stock exchange). Rubinstein is best known for his contributions in op- tions pricing, including the development in 1979 of the Back to History Cox-Ross-Rubinstein Model (binomial options pricing Rubinstein is most proud of his 2006 book, A History model) with John Cox and Stephen Ross, both of MIT. of the Theory of Investments: My Annotated Bibliogra- It is the most widely used model to value derivatives by phy, which Sharpe called a “remarkable and beautiful professional traders and no doubt contributed to the piece of analytic work.” The book looks at hundreds of subsequent growth of derivatives around the world. Ru- academic journal articles to explain the origins of key binstein also extended and generalized Sharpe’s famous finance ideas in academia. “I discovered that people capital asset pricing model (CAPM), which describes who were practicing the academics of finance didn’t the relationship between risk and expected return and is used in pricing risky securities. Real-World Applications I was worried that we “Mark has been a pioneer in our understanding of capital markets and how they function,” says Haas col- league Hayne Leland, who retired in 2008. “His most had created the crash famous work was in simplifying the option pricing model not only to a level that everyone could under- and about a possible stand, but also to a point where everyone could use it effectively in the real world.” depression. In the 1980s, Rubinstein and Leland also developed an institutional trading strategy called “portfolio in- surance.” Some argued that portfolio insurance caused understand the history very well and often thought the the stock market crash of 1987, or “Black Monday,” wrong things,” explains Rubinstein. when the market sank nearly 30 percent in one day. Lately, Rubinstein has turned to his first love, Rubinstein joined Leland, and Haas Adjunct Fi- history, which he almost chose as a career. He’s nance Professor John O’Brien in starting a company already written a “100, maybe 200-page” paper on based on portfolio insurance and amassed a large num- classical Greece and Rome and is currently working ber of clients, including pension fund managers. Port- on a book on early Christianity titled The New Gospel. folio insurance allowed the trio to help their clients He also has four forthcoming religion articles in the gradually sell out of the market as the market fell and journal Free Inquiry. to buy in as the market rose. On the sell side, there was “I’m not becoming religious,” he quickly adds. “It’s a floor on how much a client could lose if the market just interesting to understand how Christianity spread.” fell. The theory was that massive selling by portfolio The fact that Rubinstein hasn’t stopped probing insurers was responsible for most of the 1987 decline. new subjects comes as no surprise to Leland, his long- “I’m removed from it now after 20 years,” says Ru- time friend and colleague. “Mark’s retirement is a loss binstein. “But at the time, I was worried that we had to the university, but he will continue to explore intel- created the crash and about a possible depression, or lectual topics,” Leland says. “He is a great man and a that the crash could destabilize the relationship be- remarkable character because of the rigor of thinking tween Russia and the Soviet Union.” he brings to every aspect of his life.” BH

PHOTOGRAPH BY JIM BLOCK Fall 2012 15 In the Back Your Haas Network

CONFIDENCE WITHOUT ATTITUDE Show Biz M&A Keeping the talent happy after mergers

Kelly Haggerty, BCEMBA 07 VP, Merger & Acquisition Integration Warner Bros. Entertainment, Los Angeles When Kelly Haggerty got a call from Warner Entertainment Group asking if she’d be interested in joining their new Merger & Acquisition division, she asked, “Are you sure you have the right phone number?” Yes, she had M&A experience, specifically during her time at PricewaterhouseCoopers and Cisco Systems, and a specialty in merger integration. But unlike many people who have dreamed of working at the legendary studio, she says, “I never gave it a thought.” But the offer was attractive and the challenge intrigued her. Additionally, it would bring her from San Francisco to Southern California, where she could also pursue her passion for thoroughbred horse racing. Haggerty owns a racehorse, and Los Angeles has some of the best horse racing in the world. As the architect of the company’s Integration Management Office, one of Haggerty’s first charges was to help manage a smooth transition for the acquisition of Alloy Entertainment—the company that captures the teen market with television, movie, and book titles like the Vampire Diaries, Gossip Girl and The Sisterhood of the Traveling Pants. “My job is to help the acquiring business units keep the talent at Alloy happy,” she says. “Warner Brothers is a very large and disperse company, so as we fold in these smaller creative properties, we have to make sure we realize the synergies while allowing creative freedom for new talent.” Just as challenges integrating AOL-Time Warner hurt shareholder value, well-run integration can add value to a company. Haggerty says she learned the art of maintaining the delicate balance between the needs of the company and the needs of creative during her time at Haas. “All of the team projects where we had to deal with diversity and different backgrounds really prepared me to empathize and see other world views to come up with solutions that conform to corporate requirements while enabling creative freedom.” This balance is more important than ever to generating content that resonates across multiple platforms because studios like Warner Brothers are losing their direct connection to consumers as a result of a decline in movie going and home video, Haggerty points out. “There is resistance to change,” she says. “But for a company like Warner Brothers to still be thriving in 100 years, we have to make the best deals that protect the creative atmosphere while increasing shareholder value.” –Stacie Stukin

16 BerkeleyHaas PHOTOGRAPH BY MAX GERBER In the Back

Learn more about Accenture’s energy project in Chicago at bit.ly/KN0LnP.

Investment Morris Endeavor talent The goal: to make cities agency. “We’re not a bou- more efficient, attractive Banking tique firm that only does and sustainable. Entrepreneur deals the big banks don’t Take last summer’s want to do,” Bradley says. project aimed at improving Mark Bradley, BS 85 Perched high in an building energy efficiency Founding Partner, office in Embarcadero in Chicago. Volkmann’s Dean Bradley Osborne Center with sweeping team combined energy use San Francisco bay views, Bradley is information from utilities, a world away from his U.S. Census demographic childhood in Hawaii. “I data, and building square wouldn’t be anywhere footage and age from the near here if not for my county assessor’s office. time at Haas,” he says. “We created a database He traces his entrepre- of energy use intensity for neurial drive, meanwhile, 450,000 buildings across to his mother, who the city in only eight started a business from weeks,” says Volkmann. scratch and turned it into “Now the city can identify the biggest Hawaiian real the least efficient neigh- estate firm of its time. borhoods. City officials Entrepreneurial ventures He says, “Everything I’ve can identify whether it’s a aren’t the exclusive ter- learned about business natural gas or an electric- ritory of the young. After started with her.” ity opportunity, or both. And 25 years with Morgan they can work with utilities Stanley, Mark Bradley Sustainability to help customers retrofit and a handful of partners homes and businesses.” peeled off earlier this year Successes Energy efficiency is a to start a boutique invest- logical niche for Volk- ment bank, Dean Bradley Curt Volkmann. MBA 92 mann, who worked for Osborne (DBO)—and Managing Director, Pacific Gas and Electric in quickly put together deals Accenture, Chicago San Francisco after study- worth billions. ing electrical engineering To Bradley, DBO is a at the University of Illinois. return to the purer form He attended Haas’ evening of investment bank- program to learn more ing that he joined after about management and graduating from Berkeley finance. His Berkeley MBA in 1985. At the time, says has “allowed me to sit Bradley, “Morgan Stanley in a room with a CFO or was a true investment CEO and talk about non- bank; investment banking technical issues. That made up 75 percent of has proved invaluable,” its revenue.” Now it’s less From recycling to radical Volkmann says. than 15 percent. This is environmentalism, sus- After working in utility where DBO sees an open- tainability means different consulting in New Jersey ing: “We can give CEOs the things to different people. for two years, Volkmann kind of personal focus, To Curt Volkmann, a leader landed a senior man- senior-level attention in Accenture’s Sustainability ager job at Accenture they deserve, without any Services practice, it means in Chicago. He went on biases or conflicts.” satisfying needs in both the to lead various utilities Already, DBO has present and the future. consulting projects for managed a $1.5 billion “To us, sustainability almost 15 years and then merger of San Francisco means being successful transitioned to the global engineering firm URS and today while allowing sustainability group. Says Canada’s Flint Energy; future generations to be Volkmann, “Sustainability shepherded a $225 mil- successful as well,” he says. is a strategic priority for lion investment into To achieve that goal, our public and private troubled nut company Volkmann is focused on sector clients around the Diamond Foods; and building “intelligent cities” world. It’s exciting to help worked on private equity where technology cuts them innovate to address firm Silver Lake Partners’ through bureaucratic silos. these important issues investment in the William and opportunities.”

Fall 2012 17 In the Back

Watch a video on Organicville created by Whole Foods at Your Haas Network youtu.be/c6B8b4aYGIY.

Book Worm Interactive News, where Kruse knew they were he focused on business good for her and at 5 development and finance. years old declared that Dan Mucha , MBA 04 “Life feels like a series she would start her own Director, Kindle Content, of chapters that makes salad dressing company Amazon, Seattle it possible to reinvent when she grew up. At age yourself. A good MBA like 27, she did just that. Berkeley’s gives employ- After Haas, Kruse ers confidence that you worked for Andersen can make leaps from one Consulting for six years. category to another,” says Then, in 2004, with Mucha. “At Berkeley, it’s a savings and a Small nonhierarchical structure. Business Administration In the workplace, the loan, she took her passion culture is based on ability for healthy eating and and the best ideas win seven salad dressing regardless of your title.” recipes from her grand- Dan Mucha never Mucha’s professional mother’s kitchen to launch judges a book by its cover. and personal lives are a national brand. Her fi rst Whether a hard-bound coming full circle. He customer: Wild Oats novel or a chic Kindle, hopes that his work Markets, then the nation’s it’s what’s inside that broadens horizons for second-largest natural counts. In January, Mucha others. Personally, the boy and organic foods chain. became director of Kindle who once loved Tom Saw- She called her Content at Amazon. He is yer now reads Heming- business Organicville responsible for maximiz- way and is a father of two. because she wanted it to ing content selection with “I read to my daughters have a sense of place, like a specific focus on pro- on the Kindle. I love that Emeryville, Calif., where fessional and educational they use it and I also love she was living. materials. His goal is to that they sometimes still “Haas taught me to do put the world in the palm read big picture books,” research with my peers, to of your hand. says Mucha. “Ultimately, I talk to people in the food “The concept of buy just want them to get lost industry, and to work once and read anywhere in the stories.” hard,” Kruse says. She also is a powerful idea,” says learned the importance of Mucha. Content can be Bottling eye-catching branding. downloaded to a desktop, Salad Days Each Organicville label is e-reader, phone, and colorful, hand chalked by an artist, and represents more. But “fundamentally, Rachel Kruse, BS 98 Kruse’s travels. reading is about satisfy- Founder & President, Today Organicville ing intellectual curiosity, Organicville, makes 42 products—from regardless of format.” Milwaukee, Wisc. Books have been a ketchup to marinades to constant presence for sriracha, a Thai hot Mucha. As a child, he de- sauce—that are sold in lighted in The Adventures more than 7,500 stores in of Huck Finn and eventu- the U.S., Canada, Mexico, ally became a world Southeast Asia, and traveler himself. After his Dubai. All of the products undergraduate studies, are certifi ed organic, he lived in his family’s gluten free, and vegan; native Prague and co- almost all are sweetened launched an online city with agave nectar. guide for Eastern Europe So, what’s next for that was accompanied Rachel Kruse has never Organicville? “More by a brick-and-mortar tasted meat. “I’m a products, like our bookstore, The Globe. third-generation vegetar- non-dairy ranch dressing, After earning his ian,” Kruse says. She grew one of the most popular Berkeley MBA, he worked up in Milwaukee, Wisc., items,” Kruse says. “I like at the McKinsey & Com- and remembers watching to take the tastes people pany, followed by multiple her grandmother make enjoy and add something positions at MSNBC her own salad dressings. new to them. I’m having fun.” PHOTOGRAPH BY JEREMY SUTTON-HIBBERT 18 BerkeleyHaas In the Back

BEYOND YOURSELF

Serving in Japan

9/11 inspires giving back home

Yoichi Shiraishi, MBA 93 Member, Japanese House of Representatives, Tokyo “Events beyond our imagination” is a recurring theme in Yoichi Shiraishi’s life. He began his career in the Long Term Credit Bank of Japan (LTCB), an apparently rock- solid financial institution. Within eight years he was clos- ing the LTCB’s Chicago office, only to see the bank become one of corporate Japan’s biggest bankruptcies. “The LTCB had a triple-A rating when I joined, and col- lapsed within a decade.” After LTCB’s demise, Shiraishi joined global account- ing firm KPMG in New York in 2000, where he advised Japanese companies expanding in the U.S. His apartment was located directly adjacent to the World Trade Center. On the morning of Sept. 11, 2001, his wife was taking their 6-year-old son to school while his 3-year-old daughter was already at her nursery, located between their apart- ment and the Twin Towers. “We saw burning debris and then bodies fall from the tow- ers. I found my wife and son quickly and then spent the whole day searching for my daughter,” he recalls. “Her nursery had been completely blanketed in dust and rubble.” He eventually found her at a New Jersey military base, where her teacher had taken the class. The events of that day, the kindness the family received from so many people dur- ing the long walk to New Jersey, and the support that Amer- ica received from around the world had a profound effect on Shiraishi. “It made me want to do something with my life, to change myself, and to give something back.” After taking years to convince his wife that he should re- turn to Japan to help his homeland, they moved back in 2006. In 2009, Shiraishi won a seat in the Japanese Diet represent- ing his district in southwestern Japan. He serves on committees dedicated to the crucial reform of Japan’s welfare and pension system as the country struggles with the challenges of the fastest-aging society on earth. He also is serving as secretary general of pensions for the ruling Democratic Party of Japan, tasked with creating a new “afford- able, occupation-neutral system,” that will provide a universal guaranteed-minimum pension benefit to all citizens. “I want to create a country that helps those who are struggling,” says Shiraishi. The struggles reached another level with the devastating earthquake and tsunami of March 2011. After visiting affect- ed areas, Shiraishi was appointed to the committee dedicated to reconstruction. He says, “Seeing the LTCB fail, then 9/11, and the tsunami, which was predicted to be 5 meters high, but actually reached 30 meters—sometimes events occur that are beyond our imagination.” –Gavin Blair

Fall 2012 19 In the Back The Campaign for Haas

ASK THE DONOR

Itinerary for Innovation Lessons from the travel world

Ralph Bahna, MBA 65, has driven countless innovations in the travel industry. After graduating from Haas, he was credited with helping to turn Trans World Airlines (TWA) around by invent- ing business class while still in his 20s. He then led a turnaround as CEO at Cunard Line in the 1980s and in 1993 founded Club Quarters, private, city-center hotels, which he still leads today. Bahna helped in the development of Priceline.com, which he has served as board chairman since 2004. In August, he shared his “secret sauce” for leading change with Berkeley MBA students, building on his work with Dean Rich Lyons on the school’s innova- tive leader curriculum. What are the ingredients of your “secret sauce?” First, defi ne what you’re doing with as few words as possible. If it takes a page to describe a problem, there are probably fi ve or six problems and you have to prioritize. Second is ambition. MBAs want to achieve a lot, but they may not be ambitious in framing the problem and fi nding a solution. I gave the example of Club Quarters: To have the best locations, be full service, charge less, and still make a big profi t, you need to be ambi- tious and determined. What else? Next is testing. In the digital age, testing is a lot more possible and more affordable. Then, after a successful test, usually you still have to get a bunch of other people in the organization to implement the plan, which is often where the heavy lifting is. You have to take as much care in selling the project to the people who will implement it as you do in developing the idea. Talk about leading big change at one organization. When I joined Cunard Line, it was still operating transatlantic ocean liners. They were doomed by the jet, but they operated as if they weren’t. Shortly after I arrived fuel prices went up by three or four times. Almost all of our competitors went out of business. We had to learn the discipline of not trying to be the best at everything because the consumer didn’t have the money to pay for it. We were very imaginative about getting PR without spend- ing advertising dollars, and we invented a lot of things. Cunard was the first to put computer centers and spas on ships. We created this famous Queen Elizabeth 2 Concorde program. You could fly one way on the Concorde and sail the other way on QE 2. That was so successful Cunard started flying the Concorde around the world. How did you get involved in Haas’ Innovative Leader curriculum? I’d been working on a few ideas to give back. One area that interested me was making America more competitive, which I thought I could help it do by working with a leading business school. I thought if we could teach students how to think first in a more careful, complete way, we could improve the success of American business. I spent some time at Haas discussing this while the school was analyzing its strategy. As a result, I had some input into the Innovative Leader program.

PHOTOGRAPH BY JOE LARESE

20 BerkeleyHaas In the Back

UPCOMING EVENTS Bringing Miracles to Haas haas.berkeley.edu/events Leo Helzel, MBA 68, and the Business School’s First Forays 35th Annual into Entrepreneurship Old Blues trial. Holton called Helzel on a Sunday Luncheon to ask if he could teach “90 some odd Dec. 6 students” the next day. Berkeley “There was no material at all— zero—so I invented a case called Miracle Goggles because you had to Haas have a case. Edison Einstein was the Celebration in protagonist. The goggles were shatter- proof and magnified 100 times. Of Silicon Valley, course, they never existed.” Menlo Circus Then Helzel turned to live cases, Club inviting entrepreneurs who he and Jan. 30 Holton knew to tell their stories to his Atherton class. Interest in Silicon Valley was so intense that the course had to be moved to an auditorium. “Silicon Valley was starting at that Haas time,” says Helzel. “The innovation that Celebration was happening was so original that I at Gap was learning, too.” Helzel summarized Leo Helzel, MBA 68, has racked up his learning in a book titled A Goal is a Headquarters March 20 a few firsts at Berkeley-Haas. He Dream with a Deadline, whose proceeds San Francisco taught the business school’s first he donates to Haas. entrepreneurship class—almost by In the 1980s, Helzel established the accident. He was the first chair of Leo B. and Florence Helzel Chair in the Haas Board, which advises the Entrepreneurship and Innovation. Then The Economist dean. And he was the first and only he worked with Holton on courting Ideas Economy: Haas instructor to be honored with an Howard Lester, founder of Williams- “adjunct professor emeritus” title upon Sonoma, and Jerry Engel, then head Innovation retirement in recognition of many years of entrepreneurship at Ernst & Young Conference of service. and another friend of Helzel’s, to create March 28 And all that is on top of enjoying the business school’s Lester Center for Berkeley three other satisfying careers as an Entrepreneurship in 1991. accountant, lawyer, and entrepreneur “The only thing I should be credited —after flying as a navigator on Navy for is knowing people,” says Helzel MBA Reunion planes during World War II. modestly. “I’m a people person.” Helzel already had worked as an A people person who has shown Weekend accountant and lawyer known for tremendous dedication to Haas for April 25-28 putting together deals when he began five decades. In 1996, Helzel and Berkeley teaching international business at Adjunct Professor Noel Nellis, JD 66, Berkeley’s business school in 1967. “I developed an MBA course called Top said as long as I have to spend a couple Down Law that teaches business from afternoons at the school, I might as the perspective of an entrepreneur well get an MBA,” says Helzel. “So at who encounters legal problems. For age 51, when I finished, I was probably the past 15 years, Helzel has been the You don’t need to the oldest MBA in the books.” sponsor of the Haas School’s Old Blues be in the Bay Area to Then, in 1970, Dean Dick Holton, a alumni lunch. continue learning from friend of Helzel’s, came up with the Why has he given so much back to Berkeley-Haas. idea of creating an entrepreneurship Haas? “We all have gotten so much Remain a “Student course—one of the first in the country out of being involved with the school, Always” online through —and asked a lawyer in Oakland to and these experiences literally change videos of faculty teach it. The weekend before the class who we are,” Helzel says. “We have a and speakers at began, the lawyer backed out due to a responsibility to keep it going.” insights.haasalumni.org.

Fall 2012 21 In the Back Haas Worldwide Events

EVENT All-Alumni Conference

Bear Boosters Returning to Memorial Stadium Tammy and Thomas Lowell (above), both MBA 94, were among which featured faculty presentations in the morning and a the thousands of alumni who returned to Berkeley with their tailgate party in the afternoon before the Bears crushed UCLA young cubs (Alex and Mia) this fall to watch the Bears play 43-17. Later in the month, the 115th Big Game also brought more in Cal’s newly renovated Memorial Stadium. More than 500 than 500 football fans to Haas for tailgating festivities before alumni and friends came to Haas in October for Homecoming, the Bears battled their arch rivals, ultimately losing 21-3.

22 BerkeleyHaas In the Back

Get involved with an alumni chapter in your area: haas.berkeley.edu/alumni/ community/chapters.html.

East Bay Chapter Zoo Volunteer Day 1 Marty McMahon, MBA 01, and daughter Bryn. 2 Alia Al Kasimi and Mariana Gomez Galindez, both MBA 13, with Samantha Henderson, MBA 14. 3 Katalina and Virginia Garber, daughter and wife of James Garber, BS 87. 4 Viral Mehta, MBA 09, with 1 234 daughter Eesha. Dean’s Speaker Series 5 Intel CEO Paul Otellini, MBA 74, speaks at Haas. 6 Otellini chats with Dean Rich Lyons and Nobel Laureate and Haas Prof. Emeritus Oliver Williamson. 7 Adam Bryant, best-selling author of “The Corner Office” and New York Times senior features editor. 5 6 7 8 Homecoming 8 Adjunct Asst. Prof. Kellie McElhaney speaks on women’s voices in business. 9 Attendees applaud a faculty lecture. 10 Prof. Severin Borenstein talks on alternative energy. 11 Carolyn Sheaff, BA 58; Don Keene, BS 55; and Linda Keene 12 Oski shares a thumbs up with Joe Brand, MBA 91, and family. 13 Diego Brand, son of Joe 9 10 11 12 Brand, MBA 91, enjoys the music. 14 Sharon Takamoto Hasegawa, BS 69, shows her spirit. 15 Wesley Winn, MBA 03, with family. San Francisco Evening of Networking 16 Students, alumni, and friends mingle among balloons used to designate industry interests. 17 Nick Shea and Julio Santil, both 13 14 15 16 MBA 14, with Carlos Prada, As- sociate, Private Equity & Venture Capital, Government of Colombia. 18 Evening and weekend stu- dents Jessica Galeria, Christina Gleason, and Laura Brandner, all MBA 13. 19 Robbie Horwitz, MBA 11, of Sunpower; Chuck Doppelt, MBA 11, of Barclays; and Justin Amirault, MBA 10, of CleanPath Renewable Ventures. Big Game 17 18 19 20 20 A bear growl from Aaron Perez, MBA 13; Dean Rich Lyons; and David Hirsch, MBA 13. 21 Amara Aigbedion, MBA 13, shows off her own Cal color scheme. 22 Melanie and David Schoen- berg, MBA 10, with their future Cal cheerleader. 23 Moti Sorkin, MBA 13, with wife Debbie and Cal pooch. 24 Ruth Duggan, Rodrigo Iannuzzi, and Elsita Meyer-Brandt, all 21 22 23 24 MBA 13.

Fall 2012 23 In the Back Haas Alumni Notes

ALUMNI AWARDS AND ACCOLADES

Two Alumnae make salaUno Sinha Honored by Haas Recognized in Barron’s the leading International Program Sonia Attkiss, MBA 97, an advisor with health-care Amit Sinha, MBA 04, a marketing execu- Credit Suisse in New York, and Valerie provider for tive at SAP, was named the IBD Alumnus Garcia Houts, MBA 99, an advisor with Latin America. of the Year in September in recognition of Merrill Lynch in San Francisco, made salaUno also his professional success Barron’s list of “The Top 100 Women has been a and embodiment of the Financial Advisors for 2012.” client of Haas’ Berkeley-Haas culture. Attkiss ranked 29th International The award was created and Houts ranked Business to honor alumni who have 36th on the list, Development helped make possible the published in June and Program for International Business compiled from more two years. Development Program’s than 400 candidates Carlos Orellana (left), MBA 10, CNN growth during the past nominated by their was named among Mexico’s Expansión, couple of years. entrepreneurs of the year. Amit Sinha, MBA 04 firms. The rankings a magazine Sinha participated in are based on assets covering the IBD Program as a student, working in his Sonia Attkiss, MBA 97 under management business and entrepreneurship in Mexico home country of India with a health care non- by advisors and their teams, revenue and Latin America, named two companies profit. Almost 10 years later, he still volunteers generated for an advisor’s firm, and quality Entrepreneur of the Year, selecting as an adviser to nonprofits in India, working of the advisor’s practices. salaUno in the High Potential category for with partners he met during his IBD fellow- Attkiss has made the Barron’s list for the its rapid growth and social impact. ship. Sinha also has hired many students over past five years. She has worked at Credit Though Orellana and Okhuysen had the the years and retained an IBD student team Suisse’s Private Banking Group since 2000 idea for salaUno before Orellana earned this summer to work in China. and specializes in advising high net-worth his MBA, Orellana says, “It was during my As head of marketing for database products individuals and family offices. Attkiss and time at Haas that the project really took at SAP, Sinha oversaw the launch of HANA, her team oversee a total of $2.9 billion shape.” a platform for big data analytics and applica- in assets, with a client’s typical account tions, and one of the software giant’s most totaling $30 million and a client’s typical Kibbey Leads Apparel successful products in recent years. net worth totaling $50 Industry’s Sustainability Effort million. Jason Kibbey, MBA North Bay Chapter Houts and her team 08, executive director Honors Alumni manage $11.7 billion in of the Sustainable Virgil Caselli, BS 63, is a San Franciscan assets in their clients’ Apparel Coalition, a through and through, having served in top accounts, the second- diverse industry trade positions with Ghirardelli Square, the Golden highest amount of the group, helped attract Gate National Parks Conservancy, and the 100 women ranked by widespread media Fisherman’s Wharf Merchants Association. Barron’s. Her typical attention for the launch Laura Bertolli, BS 84, saved her father’s Valerie Garcia Houts, client has $70 million in of a new index that struggling San Rafael auto body shop in 1988, MBA 99 assets and a net worth Jason Kibbey, aims to measure the despite knowing little about car repair, and of $125 million. Her MBA 08 environmental impact today is a local business leader. client base is composed of private equity of apparel making. Both were honored by the Haas Alumni and venture capital funds as well as their The coalition’s new Higgs Index Network North Bay Chapter for embodying general partners and investors. attracted more than 20 articles in July one or more of the school’s Defining Princi- from the Wall Street Journal, Forbes, ples. The annual North Bay award comes with Orellana Named a Top Women’s Wear Daily, and many other a $1,000 prize, which Bertolli and Caselli split. Entrepreneur in Mexico publications. Caselli has led numerous historic preserva- Carlos Orellana, MBA/MPH 10, co- The index looks at the entire life of a tion projects and participated in nonprofit founder of a network of low-cost, high product, from raw material to disposal. It work as a complement to his long career as quality eye-care clinics in Mexico, was aims to give the apparel industry a way to an executive at a national real estate develop- named an Entrepreneur of the Year by assess the sustainability of any product. ment and management company. In addition CNN Expansión—and made its cover. Coalition members include Patagonia, to continuing to run the car repair business Orellana and co-founder Javier Wal-Mart, DuPont, and Coca-Cola. “What that she managed and then bought 24 years Okhuysen are co-CEOs of salaUno, which we hope for is that everybody eventually ago, Bertolli was recently elected incoming delivers eye care, such as cataract surgery, comes together to use a common chair of the San Rafael Chamber of Com- to low-income patients. The duo aims to assessment,” Kibbey told Forbes. merce’s board of directors.

24 BerkeleyHaas In the Back

Update your profi le in the new alumni directory: cal.berkeley.edu

UNDERGRADUATE IBM mainframe software writes, “I have had a long care facility, which works Michael, entered UCSB careers. He serves on the and varied career since with adults with dis- as a freshman in August. 1943 board of advisors for Inter- leaving Cal as an account- abilities. Robin also enjoys Kathryn, our eighth grader, netSpeech, which creates ing major in 1970. I did volunteering with people enjoys attending her Barc Simpson retired in technology that enables the usual gig in public with special needs. In visual and performing arts January from his investor- the conversion of Internet accounting, earned my addition, Robin has been charter school only five relations job at Simpson text to voice. Vijay’s son is CPA, worked for a major involved in Boy Scouts minutes from our home. I Manufacturing. He writes, an engineer for Solar City multinational corporation, for the past 12 years as a have become addicted to “I have had time to com- in San Mateo. His wife and then decided that I’d merit badge counselor and masters swimming and plete a new edition of my is taking courses at UC rather have an accountant is proud to have two Eagle swim year-round in an memoirs. Small problem, Irvine, which will lead to a than be one, so I went Scout sons. outdoor pool in all types of though: I had trouble get- PhD in law. Vijay’s daugh- off to graduate school weather, including snow. ting comments from my ter and granddaughter live and earned an MBA from 1976 This brings to mind the pre-war buddies at Cal— in Santa Cruz, Calif. Harvard. After Harvard I winter of ’77 when we had guess they are too busy spent most of my career David Glanz, of New York, snow flurries in Berkeley. enjoying a marvelous new 1966 as a consultant to high- writes, “From my perspec- Anyone remember that? world, or fighting fires. At growth entrepreneurial tive as a commercial real Anyway, best wishes to any rate, I consider myself Herman “Buzz” Bosch- businesses—strategy, estate lawyer with em- the Bears in their first blind lucky to have gone to ken, see MBA 1968 notes. organizational develop- phasis on capital markets season in the remodeled Cal. It’s the best university ment, leadership mentor- and development, I am stadium!” anywhere!” Linda McClain (Endacott), ing—the usual suspects. seeing some new develop- of Oakland, Calif., works I also had the chance to ment in New York City. Pamela McNeeley, of 1954 in residential sales in do a few turnarounds and Also, high-quality assets Forest Knolls, Calif., is a the Piedmont area. Her a startup, and be CEO are selling, even if the as- co-owner of Blue Waters Gerald Wheeler see MBA husband, Jeff (BS 1967), of a very tiny NASDAQ- sets are complicated. For 1975 notes. Kayaking in Point Reyes, is a retired teacher. Linda registered company. instance, I recently had a Calif., one of the largest and Jeff enjoy living near After a holiday trip to New sale of a trophy multi- 1956 kayaking companies in the the Berkeley campus and Zealand in 1999, I decided family home in Tribeca Bay Area. Blue Waters have two sons and two that remained subject to Norman Parsons, of to immigrate there and did Kayaking has two launch grandsons. so in 2005. I’ve been here continuing tax-exempt sites on Tomales Bay Clovis, Calif., cofounded a Liberty Bond financing company in 1994 called ever since, working pretty along the Point Reyes Ruby Dholakia (Roy) see much in the same space with credit enhance- National Seashore. Global Administrative MBA 1969 notes. ment, which also was a Services LLC. The com- as in the U.S., albeit with Pamela writes, “Besides much smaller companies. ground leasehold and was being great fun for the pany provides trusteeship John Lovewell, of Ather- divided into two phases and investment services After many years spent family or company, we ton, Calif., has enjoyed volunteering for all kinds for financial reasons. think the time spent in for various clients. Their a 30-year career as a (That was a fun deal!) major function is asset of charities plus serv- pristine nature heals us at commercial real estate ing on or chairing their If you’re in commercial deeper levels. We support protection. Norman writes, developer in Silicon real estate, please call or “Depending on whom a boards, I decided to put kayak camping on remote Valley, building for-lease my desire to be of service email—always a pleasure beaches only an hour from client’s wealth is being projects for tenants to talk shop. Ask Haas for protected against, our into serious action and San Francisco to our such as Google, Xerox, seek a position working my contact information. launch site. One night work can get interest- Lockheed, HP, Nokia, and My wife’s fine-jewelry ing indeed!” Norman has in the nonprofit arena. I away on these beaches AOL-Netscape. He is serv- now have the privilege of business is now expand- provides the disconnect two children and three ing on several volunteer ing after remaining steady grandchildren, all female. being CEO of a wonderful from our hectic lifestyles boards, including the organization in Auckland (but not declining) during that we need to refresh His oldest grandchild just Institute of World Politics the crisis. My fingers are graduated from UCLA. called @Heart (www. and renew our psyche.” in Washington, D.C., a heartnz.org.nz). @Heart crossed and I’m quietly Pamela is also involved in graduate school special- optimistic for these two 1957 provides practical and business groups in the izing in national security emotional support to market segments.” area through serving on Alphonse Hisao Shibu- studies, statecraft, and children and families the board of directors for sawa of Washington, D.C., full-spectrum diplomacy. impacted by congeni- 1977 the local chamber of is the president and CEO of He and Cynthia, his wife of tal heart defects and commerce. 40 years, enjoy spending Susan Campbell (Nap- Global Investment for childhood heart disease per), of Sonora, Calif., Development. He writes, “I time at their home in Lake caused by illness. While 1978 Tahoe. Their son, James, is writes, “After retiring to the have been busy managing the hours are long and the Sierra Nevada foothills in my boutique investment a Tulane graduate working pay is short, I’ve never had Garrad Marsh, see MBA as a TV production man- 2000 from the Bay Area 1986 notes. banking advisory firm. In a job that was this fulfill- (I left a career at VISA In- mid-September I took an ager in Hollywood. James ing. It feels great to know also briefly attended Cal ternational; my husband, 1980 extended business trip to that directly or indirectly, Craig, left IBM) we have Thailand, Vietnam, China, after Hurricane Katrina. I’m making a difference in thoroughly enjoyed our Ed Fineman, of Burlin- and Japan, where I plan to Their daughter, Jennifer, someone’s life each and slower paced lifestyle. game, Calif., and his wife, attend the annual a Menlo College grad, every day. I wish the same This has included attend- Nancy, celebrated their meetings of the board of interned at Cal in the for you!” athletic department, and ing all of our children’s son Grant beginning his governors of the World athletic and musical Bank Group and IMF.” is employed at St. Luke’s studies at UC Berkeley in Hospital in Boise, Idaho. 1975 events. I am even more August. Grant is joining appreciative of the move 1965 his older brother, Ross, Robin Witt, of Chicago, that allowed us to spend who also studies at UC 1970 has spent the last three Vijay Kumar (Pandit), of more time together as a Berkeley. Lorraine Warshaw, of years as the administrator family now that our son, Mountain View, Calif., is and CFO for a long-term retired from actuarial and Auckland, New Zealand,

Fall 2012 25 In the Back Haas Alumni Notes

UNDERGRADUATE service on Aug. 31. He is cialist. Larry also recently a branding and identity 9, 2011. They are expect- cont. employed as a senior became the president of studio in 2008, now ing their first child in associate for MEC Devel- his congregation, Temple encompasses product December. opment LLC and is work- Beth Hillel, where he is and event design. Our 1981 ing as a military planner heavily involved in the eco-friendly gift line is sold 2003 Susan Kodani (Fox), of for Headquarters, Pacific operations, member out- worldwide and was recently Air Forces at Joint Base reach, board of directors, featured on the Today Show. Kai Lui, of San Francisco, Piedmont, Calif., recently writes, “It’s been an event- celebrated 15 years at Pearl Harbor-Hickam. He and logistics of running The most exciting event, is in charge of planning an organization. When he however, was the arrival of ful nine years since gradu- Addis Creson, a brand- ation! After a few years in strategy design firm. Her military exercises and isn’t busy working, Larry our daughter, Maika Ting, in training events with Aus- enjoys spending time with 2010. Go Bears!” San Francisco, I moved husband, Kei Kodani (BS to Asia in 2006 to work 80, Forestry), celebrated tralia and other countries his wife, Heather, and within Oceania and South their three children, Mike, Sam Willard, of Berkeley, in private equity. In 2009, the 30-year anniversary I decided to come back of TranSports, his running Pacific Region. Jenny, and Jacob. Calif., writes, “I recently moved into a terrific new to the U.S. and earned and swimming store. They my MBA from Harvard. enjoy traveling, bicycling, 1989 studio work space. My photography business is While at Harvard, I did a and hiking. Susan writes, Janet Jaiswal, of Los complete 180 and moved “We have become fans booming, and I just rolled Altos, Calif., is the out a new website and into technology and entre- of the city of Los Angeles worldwide head of product preneurship. I started my while visiting our sons, blog that was several marketing at Tealeaf months in the making first company coming out Evan (UCLA 2011) and Technology, which was of business school and Kyle (UCLA 2014). Raised (www.samwillardphoto. recently purchased by IBM. com). I would love it if you moved back to San Fran- in the Central Valley, She and her husband have cisco. It was a wild ride. I am a proud Californian! would check it out and two sons. drop me a line!” We prototyped, iterated, Go Bears!” pivoted, raised capital, Peter Yu, of Hong Kong, 2000 hired, fired, made money, 1982 continues to work for lost customers, and Vincent McCambridge, BS, Oracle. He is responsible James Wedewer, of Fre- everything in between. of San Francisco, has for innovation, re-use, mont, Calif., is a consultant After much effort and been a director in the and consultative projects with Accenture. Previously, luck, we were acquired by throughout Asia-Pacific James spent over 10 years Salesforce.com, and I’m fixed-income capital Min Ta, BS 94, shows off her and Japan. Peter is also selling real estate in Las now part of an exciting markets division of RW blue and gold socks while Baird for over five years. a founding partner of a Vegas and Portland, Ore. new company, Work.com. private equity real estate carrying a torch in the London He writes, “I have enjoyed Last but certainly not Vincent writes, “From my Olympics. 49th floor perch in the investment trust focused reconnecting with the least, I got engaged to the Bank of America building on buying vacation and re- Haas and Berkeley com- love of my life by propos- in the financial district I sort properties. He writes, Min Ta, of Oakland, Calif., munity and catching up ing during our once-in- can look out at the “In July, I took Lily and Pat- writes, “This summer, I had with friends I haven’t seen a-lifetime European trip Campanile for inspiration! rick to Mammoth Lakes the once-in-a-lifetime in many years. My wife and that included the 2012 I’m an active Bear backer and inspected our first honor of being a torch- I just celebrated our 10- Olympics. I’m thankful for and Cal football season acquisition, purchased at bearer for the 2012 London year anniversary, and we all my relationships at ticket holder. I still travel at below half of peak value. Olympics Torch Relay. Even love enjoying the (usually) Cal and Haas and hope least once a year to away Anyone who vacations and though torchbearers were good Bay Area weather to reconnect!” games with Carter George is interested in a low-risk only allowed to wear the with our son, Tommy, and (Cal 1982).” way to participate in the official uniform, I did break daughter, Annalise.” 2004 U.S. real estate recovery the rules a little by wearing 2002 Bonar Chhay, of Los An- without taking additional blue and gold shoes with geles, recently launched 1988 debt, drop me an email at Cal socks. Go Bears!” Matthew Weber, of Felicitas Investors LLC, a peter@equityresidences. James Kelly of Chatham, Oakland, Calif., married wealth management firm com (or check out www. N.J., is the U.S. brand 1996 Meredith Rianda, BA 99, in that focuses on wealth equityresidences.com). leader for Pricewater- Woodside, Calif., on Sept. preservation through houseCoopers. He is Jeff Cohen, of Beverly Hills, Calif., is a founding alternative investments. responsible for the full 1993 Prior to launching Felici- range of communications partner at Cohen Gardner Juan Barrera, of Playa tas Investors, Bonar was and touch-points that LLP, a transactional law Del Rey, Calif., is a vice an investment manager at influence and shape the firm. Jeff recently joined president and credit risk the J. Paul Getty Trust. brand. James speaks reg- the board of advisors of review officer for City ularly about branding and GameDesk, a nonprofit National Bank. He will Paymon Zarghami, of San employee engagement research and outreach get married this winter to Jose, Calif., began a new and has been quoted in In- organization, which uses Veronica Gutierrez, a Latin role as a senior manag- vestors Business Daily and game play and game American historian. development technology ing director for Teach For Employee Benefit News. America, leading the orga- His articles can be found to engage students with 1994 STEM curriculum. nization’s efforts to accel- in Adweek, Advertising Age, erate educational change. and Forbes. Larry Fox, of Richmond, 1997 Paymon is responsible Calif., recently joined for a team of 175 corps Harvey Schwartz, of Ewa Kaiser Permanente at the Viola Sutanto, of San members and over 120 Beach, Hawaii, retired human services resource Francisco, writes, “My Teach For America alums. from the U.S. Marine center as a human design business, Chewing Matthew Weber, BS 02, and In collaboration with their Corps after 24 years of resources analyst/spe- the Cud, which started as Meredith Rianda, BA 99 community, the team is

26 BerkeleyHaas In the Back

Update your profi le in the new alumni directory: cal.berkeley.edu

responsible for creating Jennifer, a retired lawyer. ously, Richard worked with, and I am learning a compelling commu- Our chance meeting led to for Deloitte Consulting. something new each day. nity vision, setting local wonderful conversations He is learning about I also just moved down to priorities, and partnering and great stories about operations and financial Los Angeles from the Bay with schools, commu- Garry’s legal experiences. management through a Area. Although I grew up nity organizations, and Some highlights of our management-training in Orange County, I never local leaders to ensure trip were Pont du Gard program. Earlier this year, experienced this area of students receive a strong (a Roman aqueduct and Richard hosted a group of southern California, so it education. UNESCO World Heritage students traveling to Hong is an exciting and fun time Site), watching a mas- Kong with Dr. David Rob- for me. I am still trying to 2006 ter potter at work in a inson. He writes, “I would get settled and find extra- 200-year-old cottage, and be happy to play host for curricular or volunteering Mike Johnson, of Los a wine tasting at local any Bears who are pass- Mary Wu, BS11 activities to do, so if you Angeles, started a new job vintners. We also had ing through Hong Kong or have any recommenda- with Pacific Coast Capital the opportunity to visit a considering moving here.” those who don’t. Prior to tions, please send them Partners, a real estate French truffle farm, see a Socoride, she worked in my way.” private equity firm, in castle featuring medi- 2010 investment banking for January. His role includes eval siege weaponry, and Goldman Sachs. equity acquisitions and shop at open markets in Ian Clow, of San Fran- debt originations on MBA Provencal villages.” cisco, is working as a 2012 value-add properties. research analyst on the 1966 Mike completed an MBA 2008 absolute return/credit Tala Beigi, of Singapore, at UCLA this summer. team at Hall Capital Part- was a marketing intern Marvin Lamoureux, of ners LLC. for Rocket Internet’s West Vancouver, Canada, Nick Paranomos, of Singapore venture, ZA- writes, “Although I’m semi- Oakland, Calif., writes, 2011 LORA. Tala is also part of a retired (I turned 72 last “I thought I’d take this startup team for a social Stephanie Chen, of San May), I accept two or three opportunity to plug my venture called Barefoot short-term international new company, LottoJar. Francisco, has transferred Midwives, an organization within Google from the education sector projects We’re developing a digital dedicated to improving each year if the country platform for lottery play- Android team to YouTube’s the birth rates within Mali. devices team. She is and project objectives are ers to purchase and claim Tala writes, “I immersed interesting. This year I was individual lottery tickets, working to get YouTube myself in a different onto televisions and game asked by ORT-America as well as play together culture to gain interna- to review the Myanmar, with friends online. Keep consoles. In her free time, tional experience.” Now Stephanie does endur- Burma, vocation/technical an eye out for our launch back in the East Bay, she sector and to develop a in early 2013 and feel free ance races with Team In is looking for marketing Training to benefit the long-term education and to reach out for a special consulting positions that training project aimed Haas alumni tour!” Leukemia and Lymphoma match her experience and Filip Nowak, BS 08, with bride Society, and is actively in- at disadvantaged youth. interests. I was able to work with Phillip Wu, of San Fran- Dominique at their wedding at volved with the RealitySF the Claremont Hotel. church. the country’s Ministry cisco writes, “This past Brendan Joyce, of San of Labor. The Ministry summer, while enjoying Dat Phan, of San Jose, Francisco, works as an offered ORT-America two a cruise on the Rhone Filip Nowak, of Dublin, analyst at Partners Group. key training sites and six River before starting my Calif., recently married. Calif., is working for the California State Assembly. Partners Group is a global buildings. My project pro- third year of law school Filip and his new wife, investment management posal has been completed at the University of San Dominique, have enjoyed Dat also enjoys serving his community. firm headquartered in and ORT-America is in Francisco, I met another attending Haas events Zug, Switzerland. the process of acquiring passenger and Berkeley over the last several years. both capital and operating alum, Garry Grant. Garry, Pamela Mardo, of Danville, project funding.” a retired judge, resides in Nikhil Arora and Alejan- Calif., is a staff accountant the Bay Area with his wife, dro Velez, of Oakland, at the Clorox Co. Calif., continue to run TH their sustainable urban Minnie Wong, of San 1968 45 REUNION mushroom farm, Back to Francisco, started her APRIL 25-28, 2013 the Roots. The company first full-time job at PwC planned to launch a new as a tax associate. She version of their kit in is currently playing in an Herman “Buzz” Bosch- October 2012, with seeds ultimate league and USTA embedded in a cardboard ken, MBA, is a professor tennis league. Minnie is of management and pub- box. When families are also active with One Brick. done growing their mush- lic policy at San Jose State rooms, they can plant University. His current Dat Tommy Phan, BS 11 Katherine “Chiahui” Yu, research examines the the cardboard to grow a writes, “I just started my garden of basil, tomato, Mary Wu, of San Fran- effects of globalization on first full-time job as an global-cities development and onion. cisco, is the founder of executive compensation Socoride.com, a web and ecological sustain- analyst for Towers Watson. ability. His article on the Richard Zen, of Hong service that provides a Phillip Wu, BS 07, and Garry So far everything is going subject “Global Cities Are Kong, is now working for network for intercity rides well. I enjoy the work, Grant, BA 64 (Sociology), who by connecting commut- Coastal Cities Too: Para- the Royal Garden Hotel I like the people I work dox in Sustainability?” will met during a Rhone River in Tsim Sha Tsui. Previ- ers who have cars with cruise.

Fall 2012 27 In the Back Haas Alumni Notes

1971 1975 software engineer on the compensation of the peninsula. Life is good!” displaced population, the Don McBride, of Martins- Gerald Wheeler, of Ort- deforestation, the ville, N.J., is retired from a ing, Wash., started a new Michaela Rodeno, of emission of greenhouse 35-year career with Pacific career as a chaplain for Napa Valley, Calif., is the gases by the reservoir, and Bell, Bell Labs, AT&T and the Pierce County Sheriff’s board chair of VisitNapa- the loss of biodiversity. A Telcordia Technologies. Department. Valley. She recently rode Spanish version of the Don hosted a reception in an America’s Cup mark book will soon be online, June for his son, Tom, and boat at a race held on and Jose hopes to also Tom’s wife, Brooke, at the August 23. Mark boats are publish the book in Arboretum at UC Davis. stationed where the rac- English. Tom has a BS from MIT and ers turn. Michaela writes, got his PhD in neurosci- “It is a bit hair-raising! The ence at UC Davis. Tom is racers bear down on you 1983 30TH REUNION Herman “Buzz” Boschken, BS doing post-doctoral work at 20-30 knots and make APRIL 25-28, 2013 66, MBA 68, and wife Irene, on Alzheimer’s disease at the tightest turn they can BS 66 the Buck Institute for around your stern, and Research on Aging in then tear off on the next be published in 2013 in Novato, Calif. His wife, leg of the course, missing Mark Berger, of Menlo Urban Studies. In addition Brooke, also has a PhD in the mark boat by inches. Park, Calif., is working at to academic research and neuroscience and is doing What a ride! The semifinal NVIDIA Corporation as teaching, he is a planning autism research at UC and final America’s Cup a senior manager of life commissioner for the city San Francisco. Don has a Raymond Fry, MBA 78 races are in 2013. If you’re and material sciences of Davis and a consultant web page about Tom’s considering a trip to Napa alliances. His focus is on in urban public policy. wedding on his website at 1978 Valley, email me at kids@ recruiting and working He and his wife, Irene http://donsnotes.com/ villaragazziwine.com for with software develop- Raymond Fry, of Oakland, Boschken, BS 66, also en- brooke-n-tom.html. some recommendations.” ers to port, optimize, and joy time with their seven Calif., writes, “I’m doing a market high-performance grandchildren in the Bay one-hour radio show on a 1982 scientific software ap- Area. Irene continues her local station focusing on plications. Mark previ- Geoff Bick, of Cape work with the testing divi- baby boomers enjoying ously spent over 11 years Town, South Africa, is a sion of Pearson PLC as an life. For the show, I’ve been working in biotechnology partnering with a local professor of marketing at independent educational with Cytokinetics. financial guru named Rob the UCT Graduate School consultant. Black. I believe in doing of Business. He writes, things that make me feel “This is a dream job for a 1969 uncomfortable, knowing marketing academic, so Ruby Dholakia (Roy), of that they will help me grow. when the chance arose Narragansett, R.I., has I also operate the Oakland I grabbed it with both “Dawn on Stevens Creek Shore- branch of Security One hands. The UCT Gradu- been teaching at the line,” a painting by Bonnie Welling, University of Rhode Island Lending, a mortgage ate School of Business is MBA 71, will be featured in a book located in the Breakwater since 1981. Prior to her banker that specializes in published by the Midpeninsula Lodge at the V and A wa- current job, she earned reverse mortgages, and I’m Regional Open Space District. known as Mr. Reverse.” terfront, which is the most a PhD in marketing from visited tourist attraction Northwestern University. Bonnie Welling, of Ather- 1980 in South Africa. Not only is She has been married for ton, Calif., is a painter. Her this a good school (No. 1 38 years to Nikhilesh, whom painting of the Stevens Emmy Fearn, writes, “This in the country), but it also she met while studying at Creek Shoreline was summer I completed all of has an idyllic location, Northwestern. They have selected by the Midpenin- the requirements for my with the waterfront on one Kim Coull, MBA 83 two children, son Ritik and sula Regional Open Space PhD in special education side and Table Mountain daughter Nishita. Ruby’s District for inclusion in the at the Graduate School on the other! Any visitors Kim Coull, of Moraga, book Technology and Con- district’s coffee table book, of Education at Berkeley, are welcome to stop by!” Calif., joined Yosemite sumption: Understanding Room to Breathe: The Wild just 32 years post-MBA Conservancy as develop- Consumer Choices and Heart of the San Francisco (what’s the rush?). After Jose Serra-Vega, of Lima, ment director in August. Behaviors, was recently Peninsula. The painting will three years of preparing Peru, just finished his Yosemite Conservancy published by Springer. also appear on the back students with disabilities second book on the supports the restora- cover of the book. Room at College of Alameda for environmental costs of the tion of trails and scenic outlooks, the protection of 1970 to Breathe features art competitive employment projected construction of highlighting the beauty of and higher education a hydroelectric project on wildlife and their habitat, Bernard Friedrich, of the district’s open space opportunities, I plan to the Inambari River in the and the education of visi- Westlake Village, Calif., is preserves. Bonnie has also return to teaching gradu- Peruvian Amazon, which tors to Yosemite National a consultant to European shown her impressionist- ate students—teachers, would export electricity to Park. Kim writes, “I feel economic development style landscapes in a school psychologists, and Brazil. The book compares very fortunate to be in- agencies and North number of art shows in the school administrators—at the profitability of the volved with such an amaz- American industrial and San Francisco Bay Area the university level. I’m project to the social and ing organization with a commercial investors in this year. still living in Oakland with environmental costs that truly compelling mission. On a different note, I look Europe. husband Jeff Fearn, MBA will be assumed by the 83. My daughter, Dria, is forward to our MBA class TH population in general. 1973 40 REUNION an attorney in Oakland, These costs include the of 1983 reunion in 2013. APRIL 25-28, 2013 and my son, Jonathan, is a deficit in the proposed I hope to see many of my classmates there!”

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Eric is married to Boni Thomas Zengel, of Pleas- presented the keynote and has two daughters, anton, Calif., continues address to the an- Dana at the University of to enjoy working with his nual conference of the Pennsylvania and Alex at business valuation and California Council on Northwestern University. consulting firm, NorCal Family Relations. He Business Valuations LLC. spoke and read from his 1984 Tom writes, “My wife, recent book, In Search of Karen, is always busy Fatherhood: Daughters and having fun managing Praising, Speaking Up, two Girl Scout troops and Talking Back. Kevin has getting her mural painting been featured on NBC, business started in the CNN, NPR, Oprah Winfrey, East Bay. Our daughters, and other television and Mauri Schwartz, MBA 85 Katja and Keara, are doing radio affiliate stations. He great in middle school and also speaks for women’s women who have earned though it’s hard, they’re groups and manage- graduate-level degrees doing the best they can ment organizations on and are pursuing careers to keep the typical teen the influence fathers in business. A photo from the London attitudes at bay. We all have on their daughters’ have been looking forward careers and management Olympics taken by David 1986 Hoskinson, MBA 83 to Bears games this fall in styles. He can be booked Karen Wolff (Dozier), MBA 84 William Ledeen, of the renovated Memorial through his website at Rancho Cordova, Calif., Stadium. There’s noth- kevin-renner.com. David Hoskinson is ing like a cool, sunny fall working in health care Karen Wolff (Dozier), writes, “It was great to see many of our classmates afternoon in Strawberry management. He is also a of San Jose, Calif., is Canyon. Go Bears!” traveling photojournalist. the president of the at last year’s 25th reunion in Berkeley! I am still an David has covered U2 on Wolff Group, a team of 1987 four continents, European real estate consultants active volunteer with our cultural events, Burning specializing in residen- Haas Alumni Network Lyla Ann El-Safy (May), Man, and, most recently, tial and investment real serving on the board of our of Los Angeles, is a senior the London Olympics. He estate. The Wolff Group South Bay chapter. This wealth management un- has published numerous was recently appointed to year I also took on the re- derwriter in a private bank- magazine articles. the leadership council for sponsibilities as chairman ing unit of a large bank. Keller Williams Realty. of the board of a small Lyla also published a book Abe Kohen, of New York, embedded controls com- this summer called From writes, “In 1983, my wife, 1985 pany, Digital Dynamics. We Prairie to Palestine: The Eva Zahava (BS NucE 80), survived the cataclysmic Marshall Totah Story. The watched me graduate in Michelle Aubel, of Santa downturn in semicon- book is about a 20th cen- the Greek Theater while Fe, N.M., has been the ductor manufacturing in Kevin Renner, MBA 88, with tury Quaker woman who daughter Julia holding our 6-month- administrative services 2009-2010 and have been grew up in the Midwest old daughter, Naomi. In director and chief finan- working full-tilt on a new and taught for 18 years at May 2012, my wife and cial officer of the General generation distributed the Friends Boys School in 1989 I watched proudly as Services Department for control platform to sup- Ramallah, Palestine. Lyla Naomi was hooded in the over one year. The General port the advanced control has two children in college Stewart Noyce, of San Greek Theater, earning a Services Department is a needs of the upcoming and one child in fifth grade. Anselmo, Calif., and his PhD in materials science state agency, overseeing 450-millimeter wafer fab In her spare time, she wife, Lynn, have a daugh- and engineering.” fleet, risk, health benefits, equipment.” enjoys volunteering with ter, Sarah, and a son, office space, printing, and an organization that works William. Their family stays Ellen O’Connor (Swan- procurement and has an Garrad Marsh was with the homeless on Skid busy with academics, berg), of Santa Rosa, annual budget of more elected mayor of Modesto Row. music, drama, and sports. Calif., published a book, than $460 million. Mi- in February. Previously, Stewart has a consult- Creating New Knowledge chelle entered the public Garrad served two terms ing practice, TruNorth sector in 2006 as a fiscal on the Modesto City Geoffrey Long, of Consulting, which helps in Management: Ap- Littleton, Colo., is the propriating the Field’s analyst for the Legisla- Council. startups build innova- tive Finance Committee. president of the Lone Tree tive software businesses. Lost Foundations, which Symphony Orchestra, a argues that business She writes, “New Mexico Frank Vargas, of Stewart also maintains is indeed the Land of Mountain View, Calif., community orchestra. He a blog at www.stewart- schools have institutional- also continues his role as ized in ways that block ac- Enchantment!” just published his first noyce.com. book, Things I Wish I Knew general counsel of OpSec cess to knowledge about Security Group, a provider management that was Mauri Schwartz is the Then. The book lists 12 Steven Terusaki, of president of Career Insid- things Frank wishes he of anti-counterfeiting Albany, Calif., founded developed by the field’s and document security founders. ers, a career management had known when he was SEIDO Consulting in 2010, and talent-acquisition younger and which would solutions. a business consulting and Eric Tom, of Menlo Park, consulting firm. Women have helped his career coaching practice focused MBA Connect recently and life. The book is avail- on providing the tools Calif., is the executive vice 1988 25TH REUNION chose her as their first able on Amazon.com. and processes to help president of global sales APRIL 25-28, 2013 of International Game featured member on their individuals and organiza- Technology, a $5 billion website. The mission of Pascale Weber, of Brus- tions achieve success. He market cap company Women MBA Connect sels, is a senior equity recently received formal with $2 billion in revenue. is to promote, educate, analyst at KBC Securities. Kevin Renner, of recognition as a certified and connect professional He remains single. Portland, Ore., recently

Fall 2012 29 In the Back Haas Alumni Notes

MBA cont. TH 1994 a junior in high school and were to organize an 1993 20 REUNION rows crew. Their daughter, intimate dinner with a APRIL 25-28, 2013 Art Altman has retired Amy, is in middle school few Haas alumni. How- from the Electric Power and plays the violin and ever, after recruiting Kiara business coach in August Research Institute of dances competitively. Bechta-Metti (MBA Jorge Mércado Pérez, of Palo Alto, where he spent 2012 from the Resource Mexico City, now works Glenn writes, “We love 1997), the plans grew, and Associates Coaching two decades develop- Seattle because it is never in August we put on an for Advent International, ing algorithms to help Academy. For more infor- after spending eight too hot, never too cold, event featuring Dr. Wilton mation and to sign up for power companies forecast and you don’t have to that included two other years as the chief finan- energy markets and man- the “Pathways to Success” cial officer of the largest shovel rain!” California-based business monthly newsletter, visit age risk. He has moved to schools, attracted three Pepsi bottler in Latin New York, where he will Steven’s website at www. America. 1996 corporate sponsors, and seidoconsulting.com. continue to work on alter- had a guest list of over 60 native energy, smart grid, Mark Beckford, of San people. Peter’s talk on Larry Marcus, of Hills- and market issues. Francisco, is starting his 1990 borough, Calif., writes, building customers was second year as CEO of his extremely well received. Cameron Pollock, of “I’m grateful for all the Michael Garrow, of Har- first startup. His company great entrepreneurs Of equal importance, Redmond, Wash., is the bor Springs, Mich., works helps technology compa- the event provided an vice president of global we’ve backed at Walden for the Little Traverse nies do business in China. Venture Capital, through opportunity to strengthen marketing and Asia-Pacif- Bay of Odawa Indians as He is looking to host an existing relationships and ic sales for Physio-Control, ‘sprout stage’ invest- their treasury director. He event about China at Haas ing in digital media. I form new ones. Over one- a medical device company oversees the tribe’s invest- in the fall. Mark invites you third of the Haas alumni The company was recently made Billboard’s Power ments, annual budgets, to contact him if you are 100 in music and 140 in the region attended divested from Medtronic bank financing, economic interested in the idea. the event.” after 14 years and pur- to Follow on Twitter (@ development, and tribal chased by Bain Capital. cyberlar). We’ve provided gaming projects. Carolyn Soderberg Deborah Spalding Cameron has been mar- first-round funding for (Holder), of New York, ried to Dawn for 26 years. Pandora, SoundHound, Clark Omholt, of Novato, (Chaplin), of New Ha- owns an etsy.com store ven, Conn., was recently His son, Corey (24), is a BandPage, Aarki, Boom- Calif., is the president called Willow Sage Pearl mechanical engineer. His botix, and more. See you of Spectraflow, a color elected as incoming board Design. Her husband chair of the National daughter, Diana (21), is a at SF Musictech this work-flow consulting works for Morgan Stanley. student at Western Wash- fall! You can hear some firm. Spectraflow’s clients Wildlife Federation. She is She has two daughters (7 a founder and managing ington University. of my drumming at www. include Pixar, Abercrom- and 11) and is the leader BandPage.com/Megan- bie, Mattel, and Old Navy. partner at Working Lands of her younger daughter’s Investment Partners LLC, 1991 keely or reach me at Clark has two daughters Brownie Scout troop. She [email protected].” and continues to play ten- which specializes in the Otis Spencer, of Warsaw, and her husband hope to investment and long-term nis, soccer, and ultimate. relocate to the Bay Area, Poland, has left Heitman Jim Sauer, of Tucson, stewardship of sustain- after seven years, working where they met and lived ably managed timber Ariz., received a bach- 1995 for several years. most recently as the man- elor of architecture from and farmland. She is also aging director/co-head of University of Arizona. Anya Axelrod, of Berkeley, a lecturer in forest and Europe. Otis has estab- He writes, “I’m pursuing Calif., is working at Kaiser 1997 ecosystem finance at Yale University. lished a new real estate my latest career—ar- Permanente and expect- Paul Hoff, writes, “A investment manage- chitecture, particularly ing a baby girl in the fall. chance meeting between ment platform focused socially and environ- Carol Upton, MBA 83, on Central and Eastern mentally sustainable Glenn Wisegarver, of Se- and I in Sydney, Australia, 1998 15TH REUNION Europe. He was joined in attle, is the vice president urban architecture, led to a stimulating event APRIL 25-28, 2013 this venture by Heit- historic preservation, of finance for Zetec Inc. in August featuring Haas man’s European general and reuse.” (www.zetec.com), a global marketing professor Dr. counsel, and the company technology manufacturing Peter Wilton. When Carol is partnered with Kulczyk Hilary Weber, of San firm of non-destructive and I found that Dr. Wilton Sueli Chiozzotto, of Sao Silverstein Properties. Francisco, is enjoy- testing instrumentation, would be in Australia in Paulo, Brazil, writes, “2011 ing her new role as the software, and equipment. August, the initial plans was a wonderful year. Ra- 1992 founder of Opportu Glenn also serves on the Professional Coaching board of trustees for the Scott Bechtler-Levin, (www.opportu.com). Puget Sound Blood Center of Encinitas, Calif., sold Hilary and her group of (www.psbc.org) and board his company, IdeaEncore coaches help early- of directors for the Wash- Network, an online plat- growth companies and ington Society of CPAs form for sharing nonprofit large organizations (www.wscpa.org). In addi- tools, to Good Done Great achieve transformation. tion, Glenn is an assistant in July. He is now the vice Hilary also gives work- scoutmaster and spent president of collective shops and presenta- two weeks this sum- impact at Good Done tions in conjunction with mer hiking through the Great. He looks forward to the Haas Career Center mountains of New Mexico continuing to accelerate and other sponsors in with nine teenage scouts. the growth of the national the Bay Area. She writes, Glenn and his wife, Kristin, Alumni Down Under reconnect at an event with Senior Lecturer nonprofit resource-shar- “There is nothing like the celebrated their 21st ing network of nonprofit feeling of loving what wedding anniversary this Peter Wilton in August (l. to r.): Kiara Bechta-Metti, MBA 97; professionals. you do every day!” year. Their son, Andrew, is Carol Upton, MBA 83; Peter Wilton; Donnel Briley, MBA 86; Dimity Hodge, MBA 93; J.T. Klepp, MBA 98; and Paul Hoff, MBA 97.

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1999 improvement, and data their first child, Annabelle and execute their global analytics for the health Ruby, on May 15. Before real estate strategic plans William “Scott” Kucirek, system. Christopher also Annabelle’s birth, Jennifer —never a dull moment! of Piedmont, Calif., writes, continues to lead educa- was consulting at AAA I also recently took up “Life is flying by! We just tionfirst.com, a nonprofit Insurance Exchange. She kite-boarding, which I got back from a fun week organization that provides plans to take the rest of love. Although I did have in Santa Barbara and college scholarships to the year off from work to to recently admit to the now school has started. low-income youth. Educa- enjoy her new role as a sobering reality that my Natalie is a senior and is tionfirst.com has awarded mother. 11-year-old son, after two working on college ap- over a half-million dollars attempts, is about as good plications (guess which in scholarships. as I am after two years school we would want her at it!” Sueli Chiozzotto, MBA 98, with to attend?), playing soccer, baby Rafael and his proud practicing pole-vaulting, Cagla Erdogan Ruacan father Paulo Paschoal and leading the pep writes, “It was great visit- Leah Fine, of San Carlos, band. Juliet has entered ing the Bay Area with my Calif., is now doing part- fael arrived on Oct.13 and seventh grade and spends two kids and husband this time business develop- filled our lives with even her time reading, playing summer. Duru is now 5, ment for Agendia to help more joy and blessings. soccer, and practicing her and she went to camp at build their pharmaceuti- Since then I decided to be- violin. Mirjana and I just the Lafayette Reservoir. cal relationships. She come a full-time mom, the celebrated our 19th wed- Alp is 1.5 and loved the writes, “Any Haas alumni biggest challenge ever. But ding anniversary and are skunk train at Tilden Park. working in oncology thera- I guess we are doing OK I mostly enjoyed renting looking forward to many Zé Figueirinhas, MBA 01 peutics who would like —Rafael never complains. more. On the business an apartment in Berkeley, to investigate a compan- Next year I should go back side, OCHO Candy contin- like the good old days, ion diagnostic strategy, to consulting, hopefully ues to grow as we enter and meeting a group of Zé Figueirinhas writes, please reach out! You can linked to sustainability.” our third year. We are in Haas MBA 00 friends. If “The last few years have contact me at LDFine@ over 120 stores and hope anyone is interested in been very busy with this gmail.com. In other news, Matthieu Malan, of Casa- to dramatically increase joining the Lair of the Bear last summer being no Alex just entered eighth blanca, Morocco, and his that count in the next year. Family Camp in 2014 let’s different (Hawaii, RV grade and is figuring out wife, Caroline, started an In my free time I coach coordinate!” trip to family reunion in high schools. Alex’s time online store selling books Juliet’s soccer team, Washington, and back- at Haas served him well and ebooks in 1998 (www. work out, and have lunch —yes, that baby who flung livremoi.ma). They wel- with classmates and Cheerios all over Andrew comed a son, Felix, to their friends. I went to Ghana in Rose’s class has started family in 2010. Matthieu September to visit Patrick his own company, Harvix. writes, “I miss Berkeley- Awuah, MBA 99, and Check it out or check out Haas and its spirit but at- Ashesi (I am on the board his LinkedIn profile; Alex tended a Haas meeting in of trustees) and want welcomes business and Barcelona in July. I couldn’t to thank all those who leadership advice from all have expected better and have supported Ashesi sources. Sam is now 10 am thankful that Haas throughout the years. If you and a thriving fifth grader. sets up events for alumni are ever in town and want Ken is on sabbatical, tak- abroad. It has inspired new some delicious organic ing some time as an angel business ideas!” candy bars, drop me a line investor and looking for at [email protected]. his next big thing.” Jonathan Weinstein, of Hope you all have a won- Washington, D.C., left his derful close to 2012!” MBA 00 grads reunite in Berkeley. From top left: Rachelle Dia- Raihwi “Jayne” Kim, of job at Unity Health Care in mond; Cagla Erdogan Ruacan; Chris Barton; Jon Binder; Mark Seoul, South Korea, joined August to begin working John Liu, of Portland, Ore., Greenbaum; and Greg Funk. GE Healthcare Korea as the chief marketing officer with Friendship Public continues to work with his packing with the three Charter Schools as the investment management 2001 in October. Previously, kids in California). Laura Raihwi led the marketing deputy chief operating firm, Timberline Asset Jennifer Barron, of Oak- and I and our kids, Jack officer. He writes, “I am Management. Timberline land, Calif., and her hus- function at GE Capital (11), Fernando (9), and Korea. thrilled to have had four is a joint venture between band, Michael, welcomed Maria Elena (5), have been years in the health care the partners and Stifel living in Mill Valley since sector and to finally have a Financial and focuses on graduating from Haas chance to work in educa- domestic small- and mid- in 2001 and consider it tion. With 8,000 students cap equity portfolios for home for the long term. I’m at its 11 D.C. and Baltimore institutional clients. currently at Jones Lang schools, Friendship has LaSalle, a global commer- a tremendous impact on 2000 cial real estate firm where opportunities for children I’ve been since 2001 and and families in both cit- Christopher Bryan, of still loving it! I have the ies. At home, life is good. San Diego, Calif., is a direc- good fortune of assist- Stacie’s wonderful, Evan tor at Palomar Health, the ing many of the largest just started kindergarten, largest health district in technology companies, and Natalia’s in preschool. California. He is focusing including Amazon and Mi- I’m looking forward to a 15- on creating a project sup- Michael Malione and Jennifer crosoft, as well as smaller year reunion visit to the Bay port office to provide proj- Barron, MBA 01, with daughter technology companies, Jayne Kim, MBA 01, with Area in 2013.” ect management, process Annabelle such as Quantcast, define husband Max and son Max Jr.

Fall 2012 31 In the Back Haas Alumni Notes

MBA cont. drew Dyson (MBA 2043?) from UCSF in September is doing great, keeping us 2011. Her dissertation on our toes. Cheers to all!” was about living alone in old age. In March 2012, Robyne Shirley Eldridge, Elena was appointed as- of Danville, Calif., is now sistant adjunct professor the senior director of at the Institute of Health trade marketing for Trea- and Aging at UCSF. She sury Wine Estates. She is also affiliated with the oversees trade market- Institute for the Study ing, shopper marketing of Societal Issues at UC and promotions. Robyne Berkeley. Elena is working also recently became a on projects that will allow committee member of Gerrit van Roekel, MBA 03, with older adults to keep living the Northern California partner Aimee and Gerrit Jr. at home. She is particu- Network of Executive larly interested in issues Qing Li, MBA 06, with daugh- He writes, “I’m honored to related to living alone with ters Klaire, 9, and Aiji Li, 7 Women. She writes, be doing work for such a “Highlights of my sum- Alzheimer’s disease. In noble cause with such a her free time, she teaches new hobby. By the time mer included trips to Dis- great organization, and I ney and Legoland for my meditation. we traveled to the Pacific know I would’ve never got- Northwest in mid-August, 2-, 4- and 6-year-olds!” ten here without my Haas Raj Manghani, MBA 02, Pablo Seminario, of Lima, we were able to enjoy with wife Ruja, son Om, and background. Our little man, some of the most beautiful Gerrit Jr., has started kin- Peru, and his family wel- daughter Sonam comed a second son, Liam biking trails there, includ- dergarten, and my partner, ing the Burke-Gilman trail Raj Manghani, writes, “We Aimee, is hoping to find a Gabriel, on July 17. Pablo writes, “Pablo Frederick, in Seattle and the Seawall are embarking on a new new yoga teaching position trail in Vancouver’s Stanley adventure: moving to Sin- soon. Swing by for some our other son, is already behaving as a good big Park. The kids have also gapore! I will be assuming coffee anytime.” picked up the sales skill. a new role as the business brother. Please let us know if you are coming They made over $30 sell- manager for risk man- 2004 ing homegrown plums agement analytics in the to Lima. We really enjoy hosting our UC Berkeley/ this summer. Next year’s Asia-Pacific region and Julie Maas, of San Diego, revenue target: $60.” my wife Ruja, MBA 11, will Calif., began working on Haas family whenever be joining Tan Tock Seng a new software startup they are in the area.” Hospital as a consultant. focusing on health care Atul Tiwary, of Palo Alto, Our son, Om (10), and information technology 2005 Calif., has started as a interoperability during the partner and principal at daughter, Sonam (7), go Nadeem Sheikh, of San to an international school Tanya Vannapruegs, MBA/ summer. She is getting Centaur Partners, a bou- MPH 02, with son Boon and ready to launch the beta Francisco, was recently tique investment banking and are looking forward to named managing director picking up new language husband Ed program for her secure firm. Centaur Partners email product, EMR Direct of Opower’s business in focuses on technology skills. We are excited the Asia-Pacific region. about this life change, and Tanya Vannapruegs (Hi- phiMail. PhiMail assists mergers and acquisitions mathongkam), of Bang- medical professionals Opower is a software com- and private placement if life brings you to this pany that uses marketing, part of the world, please kok, works for Theptarin in exchanging protected advisory work, in addition Hospital. Tanya’s focus health information over analytics, and behavioral to public equity and debt look us up! We’d love to science to motivate con- connect!” is on general manage- the Internet. Julie’s com- financing transactions. ment and adding diabetes pany is looking to hire in sumers to become more prevention services to the business development, energy efficient. 2007 Susan Ram, of San Diego, hospital. The hospital also software engineering, Calif., has launched River engages in philanthropic and marketing. She can 2006 Ventures LLC, a real es- projects, such as finding be contacted at julie@ tate investment company. Gretchen DeKnikker, the funds to train person- emrdirect.com. of San Francisco, runs a River Ventures acquires nel in diabetic foot care single-family homes in startup called SocialPan- to reduce amputations. Elena Portacolone, of das, which transforms the the Bay Area and San Tanya and her husband, Diego County to add to Berkeley, Calif., graduated way business-to-business Ed, have an 8-month-old with a PhD in sociology companies leverage social its rental portfolio. Susan son, Boon. is a broker and manag- networks. SocialPandas ing member and can be just closed a $1.5 million reached at susan.river- Gerrit van Roekel, of seed round led by True [email protected]. Vashon, Wash., has Ventures. Susan has two children, started a new business Liam (10) and Eliyah (8). development role at the Qing Li, of Mountain View, Gates Foundation. Gerrit Calif., writes, “We had a 2002 will be doing product wonderful summer with Francis Chow, MBA 07, with development and supply the family. My younger daughter Hannah Paul Dyson, of San partnerships with the daughter learned to ride Francisco, and his wife, pharmaceutical and bio- a bicycle without training Francis Chow, of Santa Maureen, welcomed their technology industries. He wheels at the beginning of Clara, Calif., writes, “My second son on June 30. will primarily work to bring the summer. Biking imme- daughter, Hannah, was Paul writes, “Dexter An- vaccines and diagnostics diately became our family’s born in April and she just to developing countries. Elena Portacolone, MBA 04 32 BerkeleyHaas In the Back

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can’t wait to go to Cal! the Golden Gate Bridge The wedding was held ALUMNI BOOKSHELF Hannah equates dad with on its 75th anniversary. at Morgan’s mother’s playtime and prefers play- It was a great ride with house near the beach. ing to eating or sleeping. mostly tail wind. I met cu- Allene Wong, MS 73, and Father Doesn’t Know Best Life’s never been more rious and friendly people several Haasies joined Kevin Renner, MBA 87, asked interesting!” and rode some fantastic in the fun: Jenn Brown, an unusual question that led to coastal scenery.” Mariah Byrne, Margaret an unusual book: How can men Abby Law (Josephs), Sullivan Yang, Norberto learn to be fathers? His answer: of Melrose, Mass., and 2009 Guimaraes, all MBA Men raising daughters can learn her husband, Jason, 09; plus Morgan’s dad, Rossanna Aranibar David Eckles, MBA 73. fatherhood from women. welcomed a baby boy, Renner, whose daughters Benjamin, on March 23. Schach, of Montara, Calif., Abby writes, “I’m spend- was recently promoted Trey Clark, of Oakland, are 9 and 13, interviewed 50 ing some time as a mom to head of marketing for Calif., and his partner, women from 17 countries and before jumping into the Latin America at SCEA, Nav Athwal (Boalt 2010), eight decades to learn how their Boston health care scene where she manages the started a real estate fathers—good, bad, and unre- PlayStation brand in Latin after spending over four crowd funding company, markable—had shaped their lives. years at Stanford Hospital. America. Rossanna and realityshares.com. Their her husband also own two Their stories and his became In Search of Father- I miss the Bay Area and goal is to allow every- hood: Daughters Praising, Speaking Up, Talking would love to see any art galleries in San Fran- day investors to invest Haas ‘07ers who come to cisco and recently opened smaller amounts in Back. The book includes stories from women fa- Beantown!” three more: The Art of Dr. real estate assets, as mous, anonymous, rich, poor, young, and old. Renner Seuss in Yountville, Calif., opposed to the typi- has been featured on affi liates of Oprah Winfrey, Dennis Rae Fine Art in St. TH cal $25,000 to $50,000 CBS, FOX, NBC, NPR, ABC, WGN, and CNN. 2008 5 REUNION Helena, Calif., and The Art minimums. APRIL 25-28, 2013 of Dr. Seuss in Carmel, Ca- lif. In their spare time, she Capturing Reel Life Among Sisters and her husband sponsor If you have ever sneaked off to the a child in Peru, named movies in the middle of a work- Roxana. She writes, “She day, then Reel Life, a debut novel is 6 years old and lives in a very humble community by Jackie Townsend, MBA 93, in the highlands of Peru. may be just the book for you. I am personally tracking The novel chronicles two sis- her academic develop- ters’ complex relationship and ment and hopefully I can rocky path to self-fulfi llment share pictures when we through iconic moments of con- get to meet her one day.” temporary cinema, exploring Rossanna also started studying Japanese this themes of ambition, motherhood, year, and is committed to body image, and love. Those cinematic lenses range Sarah Diegnan and Jens being fluent by 2014. Omar Garriott, MBA 09, with from the false hope of The Wizard of Oz to the dark Dueing, both MBA 08, meet up daughter Amaya Ann tones of Blue Velvet. during the London Olympics. The book also draws on Townsend’s own personal search for what’s next when she decided to leave a suc- Jens Dueing, of London, Omar Garriott, of San recently spent time with Mateo, Calif., and his cessful management consulting career after being rec- Sarah Diegnan, MBA 08, wife, Beth, welcomed ommended for partner. And there’s a direct Berkeley who came to London for their first child, Amaya connection as one sister launches her successful career the Olympic Games. Ann Garriott, on May 5. after attending the university’s engineering school. Omar writes, “She is a Moriah Lewis and little bundle of joy and Profiting from Stock Market Anomalies Ken Wallace, of San sleeplessness.” Francisco, celebrated Sell in May and go away. The Janu- the birth of their son, Serge Hauert, of Gene- ary eff ect. Presidential elections. Christian Lewis Wallace, va, Switzerland, began These are among the seasonal on June 24. a new job in industrial anomalies in worldwide stock management for the markets that William Ziemba, Huzefa Mehta, of San luxury group Richemont MBA 68, PhD 69, a professor Jose, Calif., writes, “Last in May. He and his family emeritus at the University of Brit- year, I rode my bike welcomed their second ish Columbia’s Sauder School Morgan Eckles and Matthew son, Trevor, on July 10. from San Francisco to of Business, has been studying Los Angeles (500 miles Bernstein, both MBA 09, at for 30 years. The culmination of over four days), raising their wedding in Hawaii Michael Martin, of New $600 for the Cupertino Orleans writes, “I recently Ziemba’s work is his new book, Education Endowment Matthew Bernstein, of completed the Leadville Calendar Anomalies and Arbitrage, published by World Foundation. This year, to San Francisco, writes, 100, a race through the Scientifi c. Ziemba focuses on the futures markets, complete my West Coast “I am excited to an- sky. Since graduating where such anomalies can easily be applied, and ex- bike tour, I rode from nounce that Morgan from Haas I have had the plores ideas that he has used successfully in personal Seattle to San Francisco Eckles, MBA 09, and I privilege of participat- and managed accounts and hedge funds. (1,000-plus miles over tied the knot in Hono- ing in and competing in nine days), rolling onto lulu, Hawaii, on June 29. ultra-marathons around Fall 2012 33 In the Back Haas Alumni Notes

MBA cont. my favorite things about also tend to be some of the a private ranch in Mon- the Haas community.” nicest people you will ever terey County, with “many meet. I love that.” Haasies in attendance!” Aby Galsky Sandelman, the world. These endur- of Miami, manages a Dave Bend, MBA, writes, Jay Patel, of San Jose, ance races have afforded real estate fund that in- “I just moved to D.C. with Calif., and his wife, Simi, me the opportunity to vests in retail properties my lovely girlfriend, Erin. welcomed their second raise over $20,000, which throughout the U.S. Aby Another Aaron was in son, Shane Om Jay Patel, I’ve directed to the Lester writes, “Haas played a my life for the previous on May 11. Center of Entrepreneur- big part in preparing me few months, as Aaron ship at the Haas School for the responsibility.” Schwartz, MBA 10, and 2011 of Business. Many more Aby has two daughters, I were roommates in San races are to come, and Arianna (4) and Maia (2). Francisco. We had a really Hamza Khan, of Dubai, is Pedro Vasconcellos, MBA 09, many more funds are to nice time, joining a bocce enjoying traveling across be raised and directed to with wife Fernanda Akamine league together, taking the Middle East as a con- the center.” and daughter Laura cooking classes, and sultant for McKinsey. He working on our respective writes, “I finally feel settled include business develop- Ernesto Rodriguez, businesses.” in Dubai, and would love MBA, of Lima, Peru, ment and investments in to meet up with any Haas- writes, “Earlier this education, Internet, and Gary Coover Jr., of Seoul, ies traveling through the year I met a team of venture capital. He and area.” Haas students on their his wife have a 2-year-old South Korea, works with daughter. Pedro writes, “We Samsung on the new IBD trip to Lima, Peru. Scott Shapiro, of San Monica Wiese, MBA 05, love the warm weather! media/business develop- My daughter can go to the ment team. He previously Francisco, is a product- kindly organized this marketing manager for gathering. I had a great swimming pool almost worked with Samsung in every day!” strategy. Gary writes, “The Facebook, and recently time learning from the launched Facebook students’ experiences in move to Samsung’s global media group has been a Exchange, a real-time Peru and traveling inside Andy Zhang, of Shanghai, breath of fresh air, thanks advertising platform. He the country. We enjoyed Adam Skibley, MBA 09, with China, is running a gaming to some great mentors recently proposed to his talking about how the wife Lindsay and newborn startup. Andy raised the and huge new challenges. girlfriend, Susan, while on Haas MBA experience Jackson venture money from Intel Additionally, thanks to a trip to Alaska. teaches you to deal with Capital. real-world problems, Adam Skibley, of Chicago, the amazing leadership and his wife, Lindsay, of Aaron Schwartz, MBA 2012 build relationships, and 2010 go beyond your comfort welcomed their first child, 10, Modify Watches is zone. It was easy and Jackson Arthur, on June 9. Glenn Ballard, of San off and running and has enjoyable to talk to the Adam writes, “He is doing Jose, Calif., writes, “In- provided a great bal- students about our well and recently made his vesting in the Berkeley ance in my professional experiences; as alumni I first trip to the Bay Area MBA was the best career life, juggling between realized how strong the where he was able to meet decision I have ever made. large conglomerate and ‘student always’ trait is. many of my Haas class- The academic experi- startup. In our free time, I talked a lot about the mates.” Adam has worked ence was exhilarating, the my girlfriend, Ayelet learning opportunities for ZS Associates since quality of professors was Konrad (UCB 2006), and as planning analyst for graduating from Haas and superb, and the network of I have continued our an oil and gas company was recently promoted to classmates and alumni is adventures through Asia, in a growing economy. manager. truly remarkable. I am es- enjoying Laos, Cambodia, Going back to the pecially passionate about Vietnam, Hong Kong, and students, I felt I made Pedro Vasconcellos, of Sao Berkeley’s focus on entre- many parts of Japan.” Leslie-Ann Bergstrom, MBA 12, a personal connection Paulo, Brazil, is the manag- preneurship. Berkeley’s with daughter Stella easily; and that is one of ing director at Bertelsmann strong connection with the William Doyle Jr., of San Bergstrom at graduation. Brazil. His responsibilities entrepreneur and investor Francisco, left Barker communities in Silicon Pacific Group in December Leslie-Ann Bergstrom, Valley, San Francisco, and 2011 and joined Draw- of Redwood City, Calif., the entire Bay Area is of bridge Realty Trust LLC. He writes, “My daughter, Stella immeasurable value. My is focused on acquisitions Grace, was born during the MBA gave me the confi- and project management second week of the spring dence to start my own firm, of commercial properties semester. I was happy to and I have never been hap- targeting large corporate finish my last class while pier in my career. During users throughout the on maternity leave and orientation weekend, one western United States. walk her across the stage of the speakers identified with me at graduation! the distinguishing charac- Meredith Hoffmann, and Future Bear perhaps?” teristic of Berkeley MBAs her fiancé, Julian, moved as ‘confidence, without to San Francisco in early attitude,’ which resonated Adam Boscoe, of Santa 2012. She works in Apple’s Clara, Calif., is enjoying Alumni meet with Haas students on their International Business with me. In my experience, Retail Real Estate group, I have found that to be real. his new role working with Development trip in Lima, Peru, this past summer. Pictured here leading the strategy for Berkeley MBAs are incred- the corporate business (l. to r.) are Carlos Izaguirre, MBA 06; Monica Wiese, MBA/MPH international retail expan- development unit of Ap- ibly competent business sion. Meredith and Julian 05; Ernesto Rodriguez, MBA 09; and Marina Boleda, Mankaran professionals, but they plied Materials. Adam and Grewal, and Amelia Kaye, all MBA 13. were married on Oct. 6 on his wife, Natalie, spent

34 BerkeleyHaas In the Back

Update your profi le in the new alumni directory: cal.berkeley.edu their summer travelling in tion and represented PhD IN MEMORIAM Richard McDermott, Turkey. He writes, “Missing Berkeley at the California BS 53 Haas, but so grateful for Dreamin’ Business Plan 1972 Lolita Lowry, BA 35, Donald Weatherbe, BS 53 the opportunities and Competition, where it William Mais, BS 54 Charles Snow, of State Ed. 36 friends that came out of placed second and beat Margo Wonder, BA 54 my MBA.” out 17 other schools. College, Penn., has been Walter Moblad, BS 39 Traverie was also named a faculty member in the Akira Nose, BS 40 Dale Sobek, BS 56 Stanley Cantor, BS 57 Joshua Harrington, of one of Travel’s Top In- Smeal College of Business Austin Simons, BS 41 St. Helena, Calif., is now novations of 2012 by at Penn State University Robert Read, BS 42 Richard Knobel, BA 57, the director of research for PhoCusWright, and since 1974. He will retire Robert Blakemore, BS 43 MBA 65 on Dec. 31. In retirement, RBO and Co., an invest- Gaurav was selected as Jay Jacobus, BS 43 John Bartowick, BS 59 one of the Class of 35 he plans to stay active as ment manager. Roland Ramsey, BS 43 Rolf Czerlinsky, MBA 62 under 35 Young Leaders the co-editor of a new open- Mary Butler, BA 63 access journal, the Journal Frank Indelicato, BS 47 in Travel. Traverie opened Lothar Voller, BS 63 Jessica Huard, of up its beta to the public of Organization Design. Leland Arth, BS 48, Oakland, Calif., recently in late August 2012. The He will also be an adjunct Ed. 49 Haruki Takemoto, BS 66 founded her independent business can also be fol- professor at the Norwe- Donald Scherba, BS 48 Donna Anderson, BA 71, consultancy, J. Huard Con- lowed at Facebook.com/ gian Business School Arnold Wagner, BS 48 MBA 74 sulting LLC, and is working traverie and Twitter.com/ and a research affiliate Leslie Burnett, MBA 48 Peter Kontes, MBA 74 on marketing strategy of the Interdisciplinary traverie. Donald Seiler, BS 49, L. Frederick Duffin, BS 76 projects for several lead- Center for Organizational ing retail brands. Jessica MBA 50 Frank Steward, BS 76 2014 Architecture at Aarhus Anthony Marriott, writes, “I’m also loving my University in Denmark. Jerome Solari, BS 49 new part-time roles as Karthik Suryanaray- He and his wife, Barbara, Roland Suiter, BS 49 MBA 76 kindergarten room parent anan, of San Jose, Calif., plan to divide their time Roger Brown, BS 50 Donna Hasbrouck, BS 78 and puppy owner!” continues to lead sup- between homes in State Bill Tom, BS 50 Lane Birch, MBA 80 plier programs at Stryker College and Sun Valley, John Alegria, BS 51 Raymond Brizendine, Andrea Leewong, writes, Edoscopy. Karthik recently Idaho. MBA 05 “It’s only been a few completed a strategy months since graduation, consulting assignment at 1997 but I already miss Haas! the UC Berkeley School of I recently joined Intuit Public Health. Karthik and Marc-David Seidel, of IN MEMORY as a marketing manager his partner developed a Vancouver, Canada, is now and moved to the Mission business plan for switch- the chair of the Organiza- District in San Francisco. ing birth control pills from tional Behaviour and Hu- Accounting Benefactor Luckily, there are many prescription-only to over- man Resources Division Donald Seiler, BS 49, fellow Haasies living the-counter. at the Sauder School of nearby, and I hope we can Business at the University MBA 50 stay in touch!” of British Columbia. BCEMBA Alumnus Donald (Don) Masha Lisak, of San 2008 2004 Seiler, BS 49, MBA 50, a longtime friend of the Francisco, joined the Jo Ilfeld, of Berkeley, Calif., Omidyar Network earlier Scott Cole, of Union City, accounting program at Calif., writes, “Our newly is now on her second this summer as an associ- career post-PhD in Berkeley-Haas, passed ate in the finance group. achieved general building away Aug. 3 at his Ather- license has allowed us to marketing. After selling Omidyar Network is a phil- her online retail business ton home. He was 83. anthropic investment firm complete another real es- tate full remodel and flip in in 2010, Jo is now a After earning his dedicated to harnessing leadership coach to the power of markets to record time and for record Berkeley degrees, Seiler, profit. We are working with entrepreneurs and small a San Francisco native, create opportunity for business owners so that people to improve their a few more investors now spent time as an ac- and are always looking for they can up the level of lives. They invest in and their business without countant in the 1950s be- help scale organizations people that want to join fore founding Seiler and Company (now Seiler, LLP), a and/or know of properties being constantly stressed to catalyze economic, so- and overwhelmed. In regional accounting and advisory firm, in 1957. cial, and political change. that could be profitable ventures. We are capable addition to trying to keep Seiler was involved with real estate, venture capi- of doing 10 properties at a track of the schedules of tal, not-for-profit and for-profit business operations. Stephanie Tsai, of San time without losing focus her three kids (who can do His professional board service included Ross Stores Francisco, manages social on our painting, flooring, that nowadays?), Jo from 1982 to 2012 and Greater Bay Bancorp from 1985 media for One Kings Lane, volunteers her time to remodels, and other build- to 2006. an e-commerce company ing revenue. I’m looking new immigrants starting focused on home decor. businesses and incuba- Seiler, who believed very deeply in giving back to for a partner who would the community, established the Public Accounting be responsible for either tor-level green business- 2013 production or sales and es. She’s constantly Chair at Berkeley-Haas in 1995 and served on the Haas for a part-time real estate amazed at the wonderful Board, which advises the dean, from 2006 to 2009. His Gaurav Agarwal, of San ideas that entrepreneurs philanthropy and volunteerism also extended to the Francisco, started Traverie broker that can search for, find, purchase, and sell the (including classmates) Peninsula Community Foundation, Stanford Medi- (www.traverie.com) with are coming up with to co-founders from MIT homes that we work on. cal Center, and the Jewish Community Federation, Looking forward to seeing change the marketplace and Harvard. Traverie and the world. among other groups. Seiler received the 1989 Com- was a finalist at the 2012 you all in the near future!” munity Service Award from the California Society of Business Plan Competi- Certified Public Accountants for his charitable work.

Fall 2012 35 In the Back

Haas Personal View By James M. Spitze

developing the company’s e-commerce platform and championing it before her boss. The Schwab.com web- site established the com- pany as an e-commerce pio- neer and a giant in the highly competitive new online bro- kerage industry. Our research examined over a dozen similar exam- ples involving companies such as Marriott Interna- James M. Spitze is tional, Wal-Mart, American executive director of the Airlines, and FedEx. These Fisher CIO Leadership companies’ extraordinarily Program at the Haas successful, highly innovative School’s Institute for CIOs are what we need more Business Innovation. of. Our conversations with A longer version of his many of these individuals article appeared in the and our monthly meetings Wall Street Journal. with dozens of other CIOs support our estimate that not more than 10 percent of current CIOs are truly “in- novative.” We need more— and the sooner the better. How do we accomplish this? Many observers have described the current situa- tion as “in transition,” which isn’t surprising given the CIO role is relatively new. To both stabilize and “elevate” that role so that “I” stands for The “I” in CIO “Innovation,” at least three things need to happen: 1. The three professional societies must agree on a uniform curriculum for a university-level series of Our nation’s ability to innovate has long been a cor- courses leading to a degree in “IT Management.” nerstone of our economic success. Today, that corner- 2. Our nation’s leading universities need to support stone is being threatened as too many companies look such a curriculum, and their computer science at their IT organizations as overly costly necessities schools, their business schools, and their “I”-schools and do everything they can to keep their IT costs to a must work together to accomplish this pretty darn minimum. They are missing out on the major, positive, quickly since they seem to have been avoiding doing enduring impact that IT has had on some of their com- this for two to three decades. petitors who have seen the “I” in CIO as standing for “Innovation” and not just simply “Information.” 3. The current 90 percent or so of CIOs who still see While a few companies have an order-to-shipment their title’s “I” standing for “Information” must time of less than a day, most don’t. While some insurance pause for a moment and give some real thought companies can process a claim in just a few hours, most to the “professionalization” of their role. Far too take several days. In the design, construction, and deliv- few CIOs are active in any of the three professional ery of new products and services, that entire process— societies. This must change quickly or neither including its reliability, speed, and ease of use—is often the societies nor the universities will change, and determined by how wisely IT has been integrated into the existing situation will continue to drift, thus that process. It is only the CIOs who “get it” that see the continuing to endanger the innovation that is a cor- importance of this and make it happen. nerstone of our nation’s economic success. Our own research strongly shows that IT can be a Our nation’s CIOs are an important asset. But they powerful, enduring competitive asset. An excellent need to recognize the youth and the enduring nature of example from recent Fisher Program research: the the CIO role and start enabling it to more broadly have industry-changing impact of Dawn Lepore’s tenure as the powerful, enduring innovative impact that today CIO at Charles Schwab. Grasping the strategic power far too few companies enjoy. The sooner this happens, of the Internet, Lepore played a key role in 1995 in the better.

ILLUSTRATION BY DOUG ROSS 36 BerkeleyHaas Keval Desai, MBA 99 Partner, InterWest Partners

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