10th EDITION VIRTUAL
1 TABLE OF CONTENTS WELCOME
Message from the Dean 03 Division Breakdown 04 Message Participants’ Schedule 05 About the Founder 06 from the Dean Message from the Director 08 Judges 09 On behalf of the John Molson Judges’ Schedule 10 School of Business at Concordia University, I welcome you to the Participating Schools tenth annual Van Berkom JMSB ALBERTA SCHOOL OF BUSINESS (University of Alberta) 13 Small Cap-Case Competition, presented virtually for the first time. DESAUTELS FACULTY OF MANAGEMENT (McGill University) 14 As we continue to adapt to ongoing and evolving challenges together, HEC MONTRÉAL 15 I am very proud of the resilience JOHN MOLSON SCHOOL OF BUSINESS (Concordia University) 16 and courage demonstrated by our faculty, staff members and students. McCOMBS SCHOOL OF BUSINESS (The University of Texas at Austin) 17 SMITH SCHOOL OF BUSINESS (Queen’s University) 18 Our school seeks to present opportunities and events, such as this competition – a one-of-a-kind in Canada with an exclusive focus on small-cap business cases TELFER SCHOOL OF MANAGEMENT (University of Ottawa) 19 — to inspire curiosity, creativity and optimism in our students, faculty and business UNIVERSITÉ LAVAL 20 leaders by showcasing business innovation and success in this era of disruptive social and technological opportunity. WILLIAMS SCHOOL OF BUSINESS (Bishop’s University) 21 Furthermore, I want to express our deepest appreciation to alumnus and friend Word from the Organizers 22 Mr. J. Sebastian van Berkom, LL.D.-17 for establishing this unique competition Thank you to our Sponsors 23 through his foresight and generosity. I wish all of this year’s participants the best of luck.
Anne-Marie Croteau, PhD, CDir Dean John Molson School of Business
303 DIVISION BREAKDOWN PARTICIPANTS’ SCHEDULE
FRIDAY, MARCH 26th, 2021 SMITH SCHOOL OF BUSINESS TEAM A1 QUEEN’S UNIVERSITY DIVISION Opening Remarks 11:00 am – 11:45 am TEAM A2 UNIVERSITÉ LAVAL Live Case 11:45 am – 12:45 pm A Break 12:45 pm – 1:00 pm WILLIAMS SCHOOL OF BUSINESS Case Preparation 1:00 pm – 4:00 pm TEAM A3 BISHOP’S UNIVERSITY Submission Deadline: 4:00 pm Break 4:00 pm – 4:15 pm
PRESENTATION A1 - SMITH SCHOOL OF BUSINESS (Queen’s University) TELFER SCHOOL OF MANAGEMENT TEAM B1 GROUP 1 B1 - TELFER SCHOOL OF MANAGEMENT (University of Ottawa) UNIVERSITY OF OTTAWA 4:15 pm – 5:00 pm C1 - HEC MONTRÉAL DIVISION PRESENTATION A2 - UNIVERSITÉ LAVAL ALBERTA SCHOOL OF BUSINESS GROUP 2 B2 - ALBERTA SCHOOL OF BUSINESS (University of Alberta) TEAM B2 UNIVERSITY OF ALBERTA B 5:00 pm – 5:45 pm C2 - JOHN MOLSON SCHOOL OF BUSINESS (Concordia University) DESAUTELS FACULTY OF MANAGEMENT PRESENTATION A3 - WILLIAMS SCHOOL OF BUSINESS (Bishop’s University) TEAM B3 McGILL UNIVERSITY GROUP 3 B3 - DESAUTELS FACULTY OF MANAGEMENT (McGill University) 5:45 pm – 6:30 pm C3 - McCOMBS SCHOOL OF BUSINESS (The University of Texas at Austin)
Day 1 Results + Closing Remarks + Networking 7:00 pm – 8:00 pm TEAM C1 HEC MONTRÉAL DIVISION SATURDAY, MARCH 27th, 2021 JOHN MOLSON SCHOOL OF BUSINESS TEAM C2 CONCORDIA UNIVERSITY C Opening Remarks 11:30 am – 11:45 am TEAM C3 McCOMBS SCHOOL OF BUSINESS Live Case 11:45 am – 12:45 pm THE UNIVERSITY OF TEXAS AT AUSTIN Break 12:45 pm – 1:00 pm Case Preparation 1:00 pm – 4:00 pm
Submission Deadline: 4:00 pm EVALUATION CRITERIA Break 4:00 pm – 4:15 pm PRESENTATION A3 - WILLIAMS SCHOOL OF BUSINESS (Bishop’s University) GROUP 1 B3 - DESAUTELS FACULTY OF MANAGEMENT (McGill University) Each day, teams will be evaluated based on the following factors: 4:15 pm – 5:00 pm C3 - McCOMBS SCHOOL OF BUSINESS (The University of Texas at Austin) - Definition of Key Issues (5 points) - Qualitative Analysis (5 points) PRESENTATION B2 - ALBERTA SCHOOL OF BUSINESS (University of Alberta) - Quantitative Analysis (5 points) GROUP 2 C2 - JOHN MOLSON SCHOOL OF BUSINESS (Concordia University) 5:00 pm – 5:45 pm - Recommended Course of Action (5 points) A2 - UNIVERSITÉ LAVAL - Handling of Question Period (5 points) PRESENTATION C1 - HEC MONTRÉAL - Presentation Effectiveness (5 points) GROUP 3 A1 - SMITH SCHOOL OF BUSINESS (Queen’s University) 5:45 pm – 6:30 pm B1 - TELFER SCHOOL OF MANAGEMENT (University of Ottawa) Maximum score per day = 30 points Each team’s total score will be the sum of the daily averages. Award Ceremony + Closing Remarks 7:00 pm – 8:00 pm
04 05 “I am very much looking Commissions as an Investment Van Berkom and Counselor and Portfolio Manager About forward to the tenth year and with the Securities and Exchange of Canada’s first small- Associates Inc. Commission (United States) as an Investment Advisor. VBA is an accredited the Founder cap case competition for International Financial Centre (IFC). In business students. Since VBA concentrates 100% of its activities June 1, 1999, the company established its on Canadian, U.S. and Asian small- small-cap equity management division in the first year of the Van capitalization equities. The company the U.S. Berkom JMSB Small-Cap manages small-cap stock portfolios for large North American pension In 2012, Van Berkom Golden Dragon Case Competition, the funds, corporations, foundations, and Limited (VBGD) was incorporated in caliber of participants has endowment funds. Hong Kong to provide an Asian small-cap equity product to professional investors. continued to increase. I’m The disciplined investment approach, looking forward to another utilized by J. Sebastian van Berkom, Company is being applied by all members of fun event and bringing the investment team. While Canadian, a new level of challenge History U.S. and Asian investment teams work separately, the firm benefits from the to our rising stars in the cross-fertilization of ideas that results VBA has been in the business of from focused in-house research of these investment banking world.” managing small-cap portfolios since markets. J. Sebastian van Berkom, B.Comm., LL.D. 1991. The company is registered with Chairman, President and Chief Executive the Québec, Ontario, Alberta, British Officer Van Berkom and Associates Inc. Columbia and Manitoba Securities and Van Berkom Golden Dragon Limited
Mr. J. Sebastian van Berkom founded Van he became a Founding Director of the Berkom and Associates (VBA) in 1991. He Institute for Governance of Private and is the company’s Chairman, President and Public Organizations in Canada, and in CEO. He is also Chairman, President, CEO 2010, he was appointed to the Audit and and Responsible Officer of Van Berkom Investment Committees. In 2013, Golden Dragon Limited in Hong Kong that J. Sebastian was appointed President was incorporated on February 22, 2012. of the Investment Committee. In 2011, His investment career commenced in 1971 he funded the Van Berkom JMSB Small- at the Bell Canada Pension Fund. In 1979, Cap Case Competition at Concordia. he became a Partner of LRM Investment In 2013, J. Sebastian was appointed Management, and in 1984 co-founded to the Investment Committee of the Montrusco Bolton Investments Inc. Montreal Children’s Hospital Foundation. In 2014, he founded the Van Berkom He has won the Small-Cap Manager Small-Cap Investment Management of the Year Award in 1997 and was a Program at the JMSB. Since 2015, the finalist at the Annual Ernst & Young
Stephen A. Jarislowsky Fellowship was © Concordia University Entrepreneur of the Year Awards in 1998. established under the VBIMP at the JMSB In 2003, he funded the Van Berkom at Concordia. In 2017, he received an Endowed Chair in Small-Cap Equities Honorary Doctor of Laws Degree from at the John Molson School of Business Concordia University. (JMSB) at Concordia University. In 2005,
06 07 JUDGES Message from DAY PANEL 1 the Director HEAD: J. Sebastian Van Berkom, Founder & Partner, Chairman and Chief Executive Officer, 1 Van Berkom and Associates and Van Berkom Golden Dragon Limited Amr Addas, Adjunct Professor at the Finance Department and the Goodman Institute of Investment Management, Director of the Van Berkom Investment Management Program at John As an organizing team, we worked hard Molson School of Business, Director of the Van Berkom-JMSB Small-Cap Case Competition / to adapt this year’s competition to a Philippe Côté, Vice President and Portfolio Manager, Eterna Financial Group / Amr Ezzat, Equity Research Analyst, Special Situations, Echelon Partners / Derrick Gut, Director & Senior Analyst, virtual environment. Our objective is Jarislowsky Fraser to make the experience as seamless and enjoyable as it can be for the PANEL 2 participating teams and the judges while maintaining the event’s high standards HEAD: Charles Timmons, Partner & Portfolio Manager, Van Berkom and Associates and rigour. Reena Atanasiadis, Dean, Williams School of Business (Bishop’s University) / Peter C. Barnes, Director & Head, Americas, Controls Assurance, Chief Controls Office, Barclays Investment Bank / Gabriela Clivio, University Professor and Director at Capital Trade / Thomas Horvath, Assistant In the classroom, students learn portfolio Vice President, Global Equities, Fiera Capital theory and market efficiency. The Van Berkom JMSB Small-Cap Case PANEL 3 Competition enables students to take HEAD: Owen Gibbons, Partner & Senior Portfolio Manager, Van Berkom and Associates this inclass learning and apply it to small- cap investing, which allows for bottom-up Stephen Hui, Partner & Portfolio Manager, Pembroke Management / Constantine Kostarakis, stock picking and the pursuit of abnormal President, CIO & Portfolio Manager, Summus Investment Management / Marie-Josée Privyk, Head of ESG Innovation and Customer Success, Novisto / Lorne Steinberg, President, Lorne returns. Steinberg Wealth Management It’s a unique way to approach valuation and a great compliment to the classroom theory. At the VBCC, the buy-side meets the sell-side, valuation is followed up by DAY PANEL 1 a pitch and the investment world enters the classroom. It is through the generous monetary and in kind donations from our sponsors that this competition is possible. 2 HEAD: Amr Ezzat, Equity Research Analyst, Special Situations, Echelon Partners We sincerely appreciate your support and look forward to another successful and Reena Atanasiadis, Dean, Williams School of Business (Bishop’s University) / Philippe Côté, exciting competition. Vice President & Portfolio Manager, Eterna Financial Group / Caroline Montminy, Vice President & Investment Counsellor, Burgundy Asset Management / Marie-Josée Privyk, Head of ESG Innovation and Customer Success, Novisto
Adjunct Professor at the Finance Department and PANEL 2 the Goodman Institute of Investment Management, Director of the Van Berkom Investment Management Program at JMSB, HEAD: Charles Timmons, Partner & Portfolio Manager, Van Berkom and Associates Director of the Van Berkom JMSB Small-Cap Case Competition Inder Arya, Vice President & Portfolio Manager, RBC Dominion Securities / Gabriela Clivio, University Professor and Director at Capital Trade / Sain Godil, Portfolio Manager, Global Alpha Capital Management / Stephen Hui, Partner & Portfolio Manager, Pembroke Management
PANEL 3 HEAD: J. Sebastian Van Berkom, Founder & Partner, Chairman and Chief Executive Office, Van Berkom and Associates and Van Berkom Golden Dragon Limited Amr Addas, Adjunct Professor at the Finance Department and the Goodman Institute of Investment Management, Director of the Van Berkom Investment Management Program at John Molson School of Business, Director of the Van Berkom-JMSB Small-Cap Case Competition / Peter C. Barnes, Director & Head, Americas, Controls Assurance, Chief Controls Office, Barclays Investment Bank / Constantine Kostarakis, President, CIO & Portfolio Manager, Summus Investment Management / Sandy Poiré, Senior Investment Officer, CN Investment
Photo credit: Allen McInnis 08 09 JUDGES’ SCHEDULE
Alice Sany MBA’19 th Global Investment FRIDAY, MARCH 26 , 2021 Banking Analyst Royal Bank of Canada 3:00 pm Judges briefing 3:30 pm – 3:55 pm 4:00 pm Judges are assigned to their respective breakout rooms 3:55 pm
5:00 pm Presentations 4:15 pm – 6:30 pm 6:00 pm
7:00 pm Day 1 Results + Closing Remarks + Networking 7:00 pm – 8:00 pm 8:00 pm
SATURDAY, MARCH 27th, 2021
Ze Han Shen MBA’20 3:00 pm Investment Analyst – Judges briefing 3:30 pm – 3:55 pm Global Research Caisse de Dépot et 4:00 pm Judges are assigned to their respective breakout rooms 3:55 pm Placement du Québec (CDPQ)
5:00 pm Presentations 4:15 pm – 6:30 pm 6:00 pm
7:00 pm Award Ceremony + Closing Remarks 7:00 pm – 8:00 pm 8:00 pm
Ange-Marie D’Amizero MBA’22 Private Banking Associate TD
Photo credit: Allen McInnis 10 11 ALBERTA SCHOOL Together, let’s make OF BUSINESS the world of finance as diverse UNIVERSITY OF ALBERTA as the one we live in. Established in 1916, the University of Alberta’s School of Business is Canada’s first and longest accredited business school, recognized for its research excellence, academic program quality, graduate career success, and economic impact within Alberta and Canada. The School offers undergraduate, Master’s, and PhD business degrees as well as continued business learning through its professional development programs. Renowned for innovation, entrepreneurialism and leadership, the School’s faculty, staff, students and alumni have strengthened businesses and communities worldwide.
PARTICIPANTS
Angelina Dyck Murali Pai is a part-time is an MBA candidate MBA student at at the University of the University Alberta, focusing on of Alberta and Analytics, Finance, and holds a Bachelors Managing Innovation. of Commerce He has a background in Finance. With in engineering and experience in experience in product infrastructure and agricultural data and business development in the technology analytics, she is currently employed in sector. He aspires to be a high-impact Emergency and Disaster Management and leader within the technology and investment intends to continue working there in a more ecosystem in Canada. advanced capacity. JIMMY JEAN, CFA Desjardins Hillary Flesher JEAN-PIERRE KHLOT, CFA is a part-time MBA Caisse de dépôt et placement du Québec student at the University of Alberta specializing in CANDICE BANGSUND, CFA Finance. Currently Fiera Capital employed as a professional engineer, she applies her skill set to major infrastructure projects across North America. During her final year, she is enjoying assisting a CDL - Rockies Discover the CFA® Charter Venture and exploring venture capital finance. cfamontreal.org/CFAdesignation
12 13 DESAUTELS FACULTY HEC OF MANAGEMENT McGILL UNIVERSITY MONTRÉAL
Founded in 1906, the Desautels Faculty of Management at McGill University is Founded in 1907, HEC Montréal is the first university-level business school in ranked as one of the world’s top international business schools. The Faculty’s Canada and it has been recognized for the excellence of its programs locally and innovative programs and historic reputation for excellence continue to attract the internationally. The Montréal based institution is open to the world and solidly finest students and the most prominent professors from around the globe to its rooted in Quebec society. It trains management leaders who make a responsible downtown campus located in the vibrant metropolis of Montreal. contribution to the success of organizations and to sustainable social development. The HEC Montréal team is made up of MBA students from the full-time and part- time francophone and anglophone cohorts with a diversity of academic and PARTICIPANTS professional experience.
Conor Jung Born and raised in gained his passion Montreal, Gabriel PARTICIPANTS for finance after Salonichios comes joining investment from Israeli/Moroccan Munish Garg momentum and swing trading of stocks, clubs at McGill. descent. Gabriel was is currently pursuing ETFs and options which he is practicing He has investing always interested in MBA from HEC regularly since 2018. experience with the economics, politics Montréal and Private Capital team and current events. is a CFA Level I Gregory Lynch at Ontario Teachers’ He began managing Candidate. He is has spent the last Pension Plan and the Private Equity team at his own portfolio at 16 years old, igniting his a Chemical Engineer, 10 years working Caisse de dépôt et placement du Québec. passion for finance and the stock market. In having 7+ years in the field of In his spare time, he enjoys playing rugby, his spare time, Gabriel enjoys watching the of professional sustainability focused traveling and browsing wallstreetbets. Habs win, memorizing Chamath Palihapitiya experience in energy sector working for on community based one-pagers and playing outdoor hockey with Honeywell in Europe, North America, renewable energy friends. Middle East and South East Asia. He loves and sustainable David Drouin team activities and playing sports. agriculture. He is grew up in the currently an MBA student at HEC Montréal Laurentians. He first Born and raised with an interest in the role the financial became interested a Montrealer, Serge Mohamed Amine industry should play in the fight against in business after Krikorian comes Khalf climate change. reading Alain from an Armenian/ holds a bachelor and Bouchard’s Lebanese descent. master’s degree in biography in high Prior to joining Electrical Engineering After earning his school and he started Desautels, Serge and is a certified master’s degree investing at 18. He pursued his studies in completed his CEGEP Project Management in Aerospace finance at McGill to develop his English. studies in Science Professional (PMP). Engineering from Outside of school, David enjoys football, where he was drawn towards the business He has 8+ years Polytechnique cars, and snowmobiling. world after developing extracurricular of engineering project management Montréal, Eric Sing interests for politics and the stock market. experience holding positions in the started working Outside of McGill, Serge spends his time metallurgy and transport industries. He for CAE pursuing supporting Arsenal, exploring hiking trails is currently working for Alstom as a Test his passion in this and reading memes on twitter. Integration Manager in the rolling stock challenging industry. Currently working vehicle validation group while pursuing as a Project Technical Leader, he tailors a part time MBA at HEC Montréal. He has customized upgrade solutions for CAE’s a personal interest in quantitative trading, clients around the globe in an engineer-to- mainly focusing on short and mid-term order business segment. 14 15 JOHN MOLSON SCHOOL McCOMBS SCHOOL OF BUSINESS OF BUSINESS CONCORDIA UNIVERSITY THE UNIVERSITY OF TEXAS AT AUSTIN
Concordia University’s John Molson School of Business is one of the leading The Texas Real Estate Center is a programming office in the McCombs School business schools in the country and one of the largest in the world, with a total of Business at The University of Texas at Austin. Undergraduate and graduate student population of over 9,000. Located in the heart of downtown Montreal, students are offered interdisciplinary and practical education in real estate the AACSB-accredited school offers programs at the undergraduate, graduate through the available services. The Center brings together exceptional faculty and doctoral levels. The school’s internationally renowned faculty members are and top industry professionals to facilitate cutting-edge research and curricula for constantly pushing the boundaries of business research and many of them have undergraduate and graduate students. This comprehensive program combines been recognized for their exceptional teaching and scholarship. The school’s vision the disciplines of finance, real estate, law, design and planning, and is designed to is to be one of the world’s most relevant, responsible and respected business place graduates with the nation’s leading real estate firms. schools. With a mission to provide an engaging learning and research environment that empowers its community to achieve its greatest potential for the betterment of business and society, the John Molson School of Business works tirelessly to PARTICIPANTS provide a constantly evolving curriculum that reflects current business trends and climates. Mauricio Robina Originally from is an MBA candidate Wyoming, Chris pursuing a career Sundberg is currently PARTICIPANTS in Real Estate an MBA candidate Finance. Originally at Texas McCombs Thuy Trang Cao: Alexandra Jaruc: from Mexico City, pursuing a degree in I am a second-year I am a fourth-year Mauricio graduated Private Equity Finance. Accounting student year student at John from Universidad Prior to his MBA, from John Molson Molson School of Iberoamericana he worked as a Tax School of Business Business majoring in with a Bachelor’s degree in Industrial Consultant to family offices and managed and I am aspiring Finance with a minor Engineering. Prior to McCombs, he was an a commercial insurance surety department. to become a CPA. in Real Estate. With Investment Associate at CCLA, a real estate He currently manages a family investment Besides Accounting, years of banking private equity firm, and was an Investment portfolio of start-up and real estate I have a special love experience under Banker at Credit Suisse. investments. for Finance, particularly financial analysis. my belt, I am a natural problem-solver and I am happy to have the chance to collaborate an expert in multitasking. I am passionate with my teammates to compete on behalf of about promoting financial literacy education Zachary Routh JMSB. amongst students. is a second-year Finance student at the University of Marie Hudon: Texas. He is currently I am a third-year involved in several finance student. Austin based start- I have a passion ups and an active for numbers and member of student am looking forward organizations. In his free time, he enjoys to applying my photography and spending time outdoors. knowledge to the industry. I am a hard worker and always like to be involved in many projects. I am excited to have the opportunity to participate in this competition.
16 17 SMITH SCHOOL TELFER SCHOOL OF BUSINESS OF MANAGEMENT QUEEN’S UNIVERSITY UNIVERSITY OF OTTAWA
The Master of Finance program at Queen’s University enables working The Telfer School of Management is a leading business school located at the professionals to advance their careers in banking and finance through an intensive University of Ottawa, in the heart of Canada’s capital. The school is named in 10-month period. Its curriculum focuses on practical applications to essential honour of university alumnus Ian Telfer, who made a significant contribution to the concepts within capital markets and valuations. Beyond traditional topics, this University of Ottawa. Students are fully immersed in a learning experience that program allows students to expand their knowledge on emerging domains such as goes beyond the classroom and takes them out into the practical world, where they fintech and sustainable finance. While the degree can be earned without leaving benefit from working with partners to make a real impact in society. This exposure one’s job, it is considered a full-time program. prepares students to become a new generation of leaders driven to building a greener, healthier, happier, and wealthier tomorrow.
PARTICIPANTS PARTICIPANTS Charlie Digalakis Songmian (Simon) Li is a Research is a Master of Finance Firas Anani Oyeniyi (Boye) Olaoye Associate for student at Queen’s is a driven is a Project Manager Evolve ETFs where University and he is professional with with over 5 years of he conducts also pursuing an MBA 10 years of experience in the macroeconomic degree. He is currently experience in the energy industry. He research and working as a Portfolio banking is currently in his security selection/ Analyst at Queen’s and consulting first of two-year MBA analysis as part of University Alternative industries. His program at Telfer. the portfolio management team. Prior to Asset Funds and has five-year working experience Outside of work, Boye joining Evolve, Charlie was an Associate at experience in the banking industry. Simon’s includes working in the Risk Management, is an avid sports fan, serves in his church Vanguard Investments. He is a CFA Level hobbies include playing soccer and traveling Compliance and Corporate Governance community and enjoys spending time with III Candidate and is finishing his MFin at around the world. functions. Outside of work, he enjoys his spouse and 3-month-old. Queen’s University. spending time with his kids, reading and cooking, along with the occasional tennis Xin (Ryan) Wang match. Andrew Raftus Yanyu (Stefan) Jiang is currently a Master is a JD/MBA candidate graduated from of Finance student with foundational University of Toronto at Smith School of Soha El Saka experience in banking, with a bachelor’s Business at Queen’s is a CIPD Associate government policy, degree in Finance. University. He is specialized in corporate/commercial Stefan started his a person pursuing to learning and and real estate law. He self-employment bring value-added development. She is interested in finance career in retail work, automate the is currently working and capital markets focusing on workflow, and communicate effectively. On as a Knowledge and has worked briefly for public, private, consumer products. From there, he moved his off time, he likes to analyze industries Services Consultant and institutional organizations. Outside of onto RBC and TD, both on the retail side. and companies as well as trade stocks. and pursuing an work, Andrew enjoys playing guitar, piano, With a curiosity to learn more in the capital EMBA to expand her business acumen golf, and hockey. market, he is currently taking the MFin and professional network. In doing so, program and working as a Portfolio Analyst she intends to bridge the gap between at Queen’s University Alternative Assets vocational and academic learning. Funds and pursuing his CFA Level II exam.
18 19 UNIVERSITÉ WILLIAMS SCHOOL LAVAL OF BUSINESS BISHOP’S UNIVERSITY
Located in one of North America’s most vibrant and historic French-speaking Nestled in the beautiful Eastern Townships on 550 acres of greenery and through cities, FSA ULaval is leading the way towards a new concept for business its over 175-year history, Bishop’s University has prided itself on its community administration, as Québec’s unique position combines international flair with atmosphere. The Williams School of Business brings real-world experiences into proximity to major centres of innovation. FSA ULaval’s large and experienced the classroom, and where professors know students by name. Studying in the WSB faculty will also give you the skills to drive the expansion of ethical and provides students with a practical, experiential, interactive business education. sustainable businesses around the globe with courses taught in both French and Students learn to solve real-life dilemmas, devise innovative solutions for local English. From the diversity, history, and dynamism of Québec city to new frontiers companies and start building their own business network. We believe that teaching abroad, the world of business is yours to discover. must be enriched by hands-on experience to develop important future-ready competencies.
PARTICIPANTS PARTICIPANTS Philippe Brisson Youssef Cheniour is currently is always looking for Vivianne Courte- Patrick Thompson completing his his next challenge. Rathwell is an is a third-year business Finance and Whether he’s Honors Economics student from Underhill, Business Valuation pitching a brand student who is also Vermont, pursuing undergraduate idea to a crowd pursuing minors a concentration in degree. He of 300 people, or in Business and Finance with a minor is a person building a DCF Psychology. She in Economics. He has with order and from scratch, he holds the Head an active role in his method, structured and determined enjoys high-pressure environments, where Strategist position for school’s investment to face challenges. Furthermore, he is performance is expected and required. Bishop’s student investment portfolio and portfolio as a Research Assistant for the patient, attentive and understanding of He’s about to graduate in Business actively participates in case competitions. financial sector. In his free time, he enjoys everyone he meets. Passionate about Administration, with a major in Finance. Her primary work experience is in event snowboarding and playing guitar. finance, Philippe loves the high-pressure management and she plans to start environment and hopes to pursue a graduate degree in Behavioral Economics a career in private equity. Nicolas Gauthier this fall. Max Toguri-Laurin is a third-year is a third-year student student majoring from Montreal double Pier-Olivier in Finance. He has From Ottawa, Justin majoring in Finance Bouchard proudly represented Brant is a fourth-year and Accounting. is currently Laval University in Finance student also Currently serving a third-year student various international pursuing a minor in as President of the in Accounting at and local case Business Technology Finance Society, Laval University. competitions. & Analytics. He Portfolio Manager in He currently Furthermore, he has experience as is highly involved the student investment fund. Max has also works for RGP a financial analyst in the North American’s on campus and proudly represented BU at several case investments in the equity market. His desire to succeed and manages the school competitions. Upon graduation, he hopes to accounting department. He participated perform always pushes him to try and be newspaper. Justin is currently working as pursue a career in equity research. in various business case competitions the best version of himself. a Policy Analyst at The Assembly of First in finance and strategy such as McGill Nations and seeking a career in strategic International Portfolio Challenge and Jeux finance. du commerce.
20 21 WORD FROM THE ORGANIZERS THANK YOU TO OUR SPONSORS Photo credit (Amr Addas): Allen McInnis
From left to right: Amr Addas, Guy Barbeau, Anza Khan, Shreya Rugle, Catherine Zemelka
It is a great honour to be a part of the We extend hearty thanks to Mr. Amr 10th annual Van Berkom JMSB Small- Addas, VBCC’s Director and our Cap Case Competition! Now, more than preeminent advisor, for his leadership, ever, this synergistic, instructive event encouragement and assistance underscores the value and importance whenever we have needed him. We of informing and inspiring the next also thank JMSB Dean, Mrs. Anne-Marie generation. Our only regret? This year’s Croteau, for her unfailing support of our virtual competition doesn’t allow our team and the competition. team to provide the complete in-person experience. And finally, special thanks go to Mr. Guy Barbeau, JMSB Director of Student Life We acknowledge with thanks the and Special Projects, who has made our competition’s founder, Mr. J. Sebastian experience so much easier! van Berkom, Founder & Partner, Chairman and CEO of Van Berkom and We hope that this 2021 edition of VBCC Associates, a highly respected small-cap will bring indelible learning experiences investment firm. As a dedicated alumnus and lasting memories to all participants. of the John Molson School of Business, Mr. Van Berkom provides perennial Sincerely, support to the school for opportunities such as this event that contribute to the The 2021 VBCC Organizing Team creation of a comprehensive academic experience. © Concordia University
22 23 10th EDITION VIRTUAL
Ten years already for Canada’s first small-cap case competition intended for Finance Photo credit: Allen McInnis and Business students
24 25 10th EDITION VIRTUAL
vanberkomcc.com