A Transformational Experience
St. Lawrence students spend two days in New York, learning the ropes of finance from John Angelo ’63

By Edward J. Forbes ’02

At 7:30 on a dreary Thursday morning in October, 14 St. Lawrence students crowded around a conference room table high above Park Avenue in Manhattan.  While their classmates were at home on mid-semester break, this group was deep in a discussion with John M. Angelo ’63. Weaving anecdotes of his St. Lawrence education and colorful stories of his career into a survey on recent financial history, the securities industry veteran played the part of a tenacious professor. As he explained the various forces that led to the recession, Angelo peppered the students with questions, testing their knowledge of the American financial system.

“What’s a derivative?”

“What’s equity?”

“What’s a credit-default swap?”

Well prepared, the young Laurentians — eight seniors, three juniors and three sophomores selected from an applicant pool of 26 for their academic performances, their interest in finance and their strong interpersonal skills — met each challenge. They were ready to embark on a two-day marathon through the complex world of the American securities industry.

One of Angelo’s employees, who recently graduated from another institution, sat in on the seminar. At the event’s conclusion, Angelo said the young man told him, “I wished we’d had an event like this at Harvard.”

Angelo led the seminar at the offices of Angelo, Gordon and Co., a private equity firm that manages $19 billion in assets, of which he is the chief executive officer. With nearly a half-century of experience in the finance industry, Angelo gathered titans of that world for a two-day seminar to explore how the securities industry operates and is regulated. Added to that complex stew were discussions on philanthropy, journalism and the law. It proved a whirlwind tour of the forces that make New York the financial capital of the world and an unparalleled opportunity for St. Lawrence students.

With aplomb and articulation, they talked with Angelo’s panelists — experts from his own firm, officials from the Federal Reserve and U.S. Securities and Exchange Commission, leaders of New York philanthropy and journalism — and proved an impressive bunch. Each of the 14 was articulate and all asked thoughtful questions.

“Everybody likes talking with young kids,” Angelo said in an interview a few days after the seminar concluded. “I thought they were well prepared and well mannered. It was very positive.”
The idea for the seminar, Angelo said, had its genesis when he and his wife, Judy Hart Angelo ’64, visited Canton in 2005. The Angelos talked with students in finance classes taught by Associate Professor of Economics Peter FitzRandolph. While that was a rewarding experience, Angelo said, he knew he could do more by bringing students to New York City.

“You just can’t do in Canton what we did here,” Angelo said, explaining that only in New York could he assemble such a seminar.

The students, for their part, were bowled over. In addition to the seminar, the Angelos provided accommodations at the Waldorf-Astoria, hosted a dinner at a steakhouse and took the group to a showing of The Heights, a hit Broadway musical.

“The experience John Angelo provided was incredible,” said Lindsay Tarolli ’12, who is considering an economics major. “This really was a life-changing experience. The advice provided was indispensable.”

Evan Munderville ’10, a double major in psychology and economics from Albany, N.Y., said Angelo’s panel was a symbol of the strength of the Laurentian network.

“I always thought St. Lawrence had a pretty good alumni network,” Munderville said. “But until this event, I didn't fully understand the number of successful and powerful people who have graduated from St. Lawrence and how involved with our college they still are.”

A double major in economics and history, Christopher Tamm ’10 agreed with Angelo’s notion that such a seminar could be successful only in New York, notwithstanding the fact that “St. Lawrence has given me many great educational experiences. The speakers were extremely open and informative and I know now that I have tools and anecdotes to take with me to future job interviews and beyond,” Tamm commented.

Carol Bate, assistant dean of student life and director of the office of career services, oversaw the selection process for the seminar and, with FitzRandolph, accompanied the students to New York. She said the two days, while intense, were transformational.

“One of the most powerful things for the students was seeing a St. Lawrence alum who’s so well connected,” Bate said of Angelo. “It opened their eyes to possibilities for themselves. You can think small or you can think large, and this showed them how to think large.”

FitzRandolph agreed. In a letter of thanks to Angelo, he wrote, “Although the students had ‘done their homework’ on the speakers, I don’t think they ever imagined how impressive they would be in person, how insightful their comments would be, and the degree to which these high-profile people would be happy to share the stories of their lives and personal philosophies.
“I suspect that when these students look back at their St. Lawrence years, this event will stand out as one of the most productive and memorable of their college experience,” FitzRandolph continued.  “The insights that you and Judy shared with them will help them be better prepared for life after college and be more engaged and responsible members of society.”

Angelo also felt the seminar was a remarkable success and said he hopes to do it again. As he organized the event, he realized what a unique opportunity it would be. “I think it was very eye-opening,” Angelo said. “I learned a lot and I think the students learned a lot. I could do this every week.”