Letter from the President:

I could not be more pleased with the performance of the Drexel Finance Association (“DFA”) during fiscal 2010. The organization delivered unprecedented growth in all major areas including, but not limited to, membership, attendance and event frequency. Our Executive Board of Directors (“the Board”) worked tirelessly throughout the year to achieve every goal set forth last summer despite a still-challenging job market, especially in the financial services industry.

Synergies enable tremendous growth. Perhaps the most significant accomplishment in fiscal 2010 was the number of premier events the DFA was able to host—eight, in total—which was up 100% from fiscal 2009. The major catalyst for the increase was the DFA’s ability to leverage its relationships with other student organizations and college departments to realize existing synergies. This strategy enabled the DFA to host more events at a substantially lower cost base, which in turn allowed for more efficient use of our SAFAC funding, especially in the much-needed areas of marketing, promotion and member relations. Going forward, I expect the DFA to continue its strategic partnerships with other organizations and departments to better serve the LeBow College of Business community.

Fiscal 2010: A “Banner” Year. As I alluded to earlier, the DFA broke event attendance records several times during the year, which I believe is a testament to the relevancy and practicality of the organization and demonstrates that our mission resonates well with students. Particularly encouraging was the turnout for our “marquee” event in the Spring term, which featured prominent professionals in the hedge fund industry. While the 65 students in attendance was not a record, it did represent a modest increase over the prior year’s comparable event despite a number of headwinds including midterm exams and the university’s co-op cycle shift.

Putting the “Finance” in Drexel Finance Association. For fiscal 2011, the DFA will have a SAFAC budget of $3,642, which represents an approximately 4% increase over last year’s allocation. On a more inspiring note, the DFA boasts a 74% compound annual growth rate for its SAFAC allocation for the four years it has been a recognized student organization. However, during that time, our funding per member (“FPM”) has decreased roughly 19% from $10 to $8.09, which I believe is unacceptable given the organization’s impressive recent performance. I would expect the DFA to achieve a $5,000 allocation and return to $10 FPM by fiscal 2013, based on an estimated 500 members. 

Overwhelming number of Executive Board applicants. In late January, the DFA announced it would be conducting interviews to fill Associate Director positions on the Board. The response was overwhelming as the DFA received over 45 applications in just three days. After a month-long interview process, two freshmen, Bryce Istvan and Chris Krumenacker were named to the Board effective immediately. Bryce and Chris join Emily Lupico and Vicky Lantushenko, who were named to the Board last fall, as its newest members. Freshman Jeff Cho, who is currently Vice President of Drexel Investment Group (DIG), will serve as liaison for the two organizations in an effort to improve relations and ensure students’ interests remain our top priority. We are excited about these additions and look forward to their contributions in the future.

Bulls & Bears Press puts DFA on the map. In March, the DFA announced its participation as a member-organization of the prestigious Bulls & Bears Press, the largest collegiate financial news publication in the world. Coinciding with the announcement, I was featured in the March 28 issue with an interview highlighting the DFA. Our intentions going forward are that DFA members will contribute original articles for publication in the Bulls & Bears Press. The article can be viewed HERE!

On behalf of the Drexel Finance Association, I would like to thank everyone for their continued support and hope to see you at our future meetings and events.

Warmest regards,

Rich Lavner

President, DFA

In accordance with the new reporting schedule, the DFA will be releasing an Annual Report for the fiscal year ended June 30, 2010 on Monday July 19, 2010 at 8:00 a.m.

This report, and all other reports on a go-forward basis, will be available by request only and will no longer be posted in their entirety on www.lebowticker.com. However, excerpts from the reports will still be posted on a regular basis.

To request an electronic copy of the Drexel Finance Association 2010 Annual Report, please e-mail: dufinance@gmail.com or DFA President, Rich Lavner, at RL323@drexel.edu.

4th Annual Night of Achievement

Date: Wednesday, June 2, 2010

Time: 6:30PM

Location: Bossone Atrium, 3128 Market Street, Philadelphia PA 19104

Guest Speaker: Kim Reed, Managing Partner of Reed Development Group

Dress: Business Professional

This event is open to ALL Drexel Students and a three course dinner will be offered!!!

Companies in Attendance:

And more!!!

This is an event you do not want to miss as it will be an exciting look into the game of baseball, but not what occurs on the field, rather what happens behind closed doors. He will also discuss his past at KPMG and how he came to the position of CFO.

There will be giveaways at the program and a networking reception to follow in the lobby of Pearlstein.

This memorable event should not be missed; it’s open to any Drexel Undergrad, so please feel free to invite friends!

6^th Annual May Tea

May 14^th     5:00-7:00 PM 

at the Acorn Club in Philadeplphia

Our speaker will be Gerrie Dresser, Leadership Strategist and Executive Coach. Gerrie is President of Success Associates, a coaching & consulting company.  She is a Founder of Unique Genius™ Coaching Model for Leaders & Pivotal Business Teams. Enjoy finger sandwiches, tea, and dessert.  Great opportunity to meet and network. This event is free and open to everyone. Please register by tommorrow May 12th at midnight http://www.lebow.drexel.edu/Event/DWIBMayTea6

Hope to see you there!

-DREXEL WOMEN IN BUSINESS

The panelists will include:
– Marisa Veni, University Travel Consultant at The Accent Group, a pioneer company in staffing solutions
– Ben Joullen, Consultant at Accenture, a global management consulting, technology services and outsourcing company
– Tim Buckley, Vice President, Business Financial Officer for CIGNA International, a leading global health service company
– Eydis Olsen, International Business Professor, will moderate the panel

The panel will discuss their experiences, recent travels, and answer questions pertaining to the topic. The four panelists will represent many different perspectives of the crisis depending on their field and industry.

This event is a great networking opportunity and students will have the opportunity to explore careers in International Business.

Business Casual Attire is preferred.

Refreshments will be provided after the Panel discussion.

Drexel University’s LeBow College of Business will host A View From the Top with Jack Brennan, former CEO of The Vanguard Group Inc. Wednesday, May 12, 2010 from 6 to 8 p.m. in the Pearlstein Business Learning Center room 403 (32nd and Market Streets).

Jack Brennan, former CEO of the Vanguard Group Inc., will be presenting “Lessons Learned From the Financial Crisis.” Brennan joined Vanguard in 1982. For many years he served as the company’s president alongside John C. Bogle who was Vanguard’s founder and CEO. When Bogle stepped down from his chairmanship in 1996, Brennan was his hand-picked successor. Since then Brennan has remained committed to Vanguard’s long time strategy of providing low cost no-load mutual funds to its investors.

He was also a previous chairman of the Investment Company Institute, a trade organization representing mutual fund companies.

A networking reception will follow. Food and beverages will be provided.

To register, please visit https://www.lebow.drexel.edu/Event/brennan

For more information, contact Gavin McCullion at gmm372@drexel.edu or 215.895.2376.

Tonight 6:00-8:00 PM

Pearlstein 405

Cosponsored by Graduate Entrepreneurship CLub and Drexel Women in Business

Jennifer will speak on the theme “Investing in Your Future.” She will discuss how building her personal brand, networking and taking calculated risks have helped develop her career and personal growth. This event will be particularly insightful to individuals who are at a transition point or early in their career. For more information, or to RSVP, please visit http://www.lebow.drexel.edu/Event/speakerfox

Hope to see you there!

President: Brad White
Vice President-Internal (Business College): Aria Srinivasan
Vice President-External (Engineering College): Pawel Bogdanowicz
National Representative: Alex Keating
Treasurer (Finance Chair): Adam Weinstein

Thank you for all those who ran and congratulations to all those elected. As you know, these NOBE positions are just a formalities based on the constitution across all NOBE chapters and with Drexel. The positions are whatever you want to make of them, and you can do a lot. There are also a number of appointed positions that are equal to the elected positions for those of you who would like to keep active.

We’ve had a great year including placing in the operations management regional case competition in Ohio, attending many conferences, putting on classes for CPIM courses, attendance at professional development meetings at different societies, associations, and organizations, and the start of our stock market game, and running a number of events.