Our comprehensive Annual Report will be released on Monday July 26, 2010 at 8:00 a.m. In the meantime, please refer to our Letter from the President.

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

The Drexel Finance Association (DFA) announced today that it will be moving to a June fiscal year-end, from its previously used September fiscal year-end reporting schedule, thus matching Drexel University procedures.

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.

The Drexel Finance Association (DFA) invites all new and existing members to join us for our Spring Term general body meeting. The meeting will take place on Tuesday, April 20th, at 7:30 PM. It will be held in Matheson Hall: Room 408.

We encourage all students, regardless of class or major, to come learn about how DFA may add value to your educational experience at Drexel.

This meeting will focus on discussing our upcoming events, including a hedge fund event to be held on May 4, as well as our annual charity 3-point shootout. We will also be looking back at our recently held events and encourage students to voice their feedback, and most importantly tell us what you want to see NEXT YEAR!

As usual, there will be FREE pizza and drinks. We will also be giving away more FREE DFA T-shirts!!!

We look forward to seeing you there!

This past Tuesday, March 2, the Drexel Finance Association (DFA), Drexel Investment Group (DIG) and Undergraduate Career Services hosted its annual Top Finance Co-op Employer Event.

Representatives from Susquehanna International Group (SIG), Goldman Sachs Private Wealth Management*, PENN Capital Management, CIGNA, New York Life, and Northwestern Mutual presented on the benefits of their company’s respective Co-op program. For the latter part of the evening, students were invited to network and learn more about these great opportunities.

Attendance was extremely high, so on behalf of all the sponsoring organizations, we hope you enjoyed the event and continue to take advantage of the College’s great networking and recruiting resources.

*In attendance, but did not present on behalf of the company–networking only

Last night, the Drexel Finance Association (DFA) held its first General Body Meeting of the Winter Term in front of a record attendance of 63 students. This surpasses the organization’s previous record of 61 students, which was set last term and is indicative of the DFA’s staying power within the LeBow community. In fact, last night’s attendance represents a roughly 250% increase over last year’s on a comparable meeting basis. In addition to this feat, the DFA had plenty of business to discuss, all of which can be found below.

*Upcoming Events for Winter Term (2Q10)*

February 8, 2010 @ 6pm in Paul Peck: “Market your Dreams, Finance your Future” is a collaborative effort between the DFA, Drexel Marketing Association (DMA), and Undergraduate Career Services (UGCS). This event will highlight the leadership development programs available at Lockheed Martin, Vanguard, Susquehanna International Group (SIG), and GMAC. Students will gain an understanding of how participation in corporate programs at these companies will provide short and long-term career benefits. More information will be sent out via Facebook and e-mail, as well as a Ticker post the week of the event.

March 2, 2010 @ TBA in Paul Peck: “Top Finance Co-Op Employers Event” will be co-hosted by the DFA and Drexel Investment Group (DIG) for the second year in a row and will most likely feature companies, among others, that have participated in networking/professional events with both student organizations in the past. The Top Finance Co-Op Employer Event is very popular with students as it gives them the chance to meet with representatives from companies with highly desirable Co-Op opportunities.

*Spring Term Guidance (3Q10)*

The DFA is in the process of finalizing plans for two professional events and one charity event in the Spring, all of which have been published in the organization’s previous guidance released in December 2009. The two professional events include a panel discussion on the hedge fund industry featuring Drexel alum and DFA-event veteran Rob Delany (CFO, Sciens Capital Management). The second event is still in the planning phase but is expected to feature Danielle Hughes (CEO, Divine Capital Markets) to lead a discussion on the emerging role of women in finance, among other topics. Lastly, the DFA plans to hold its Third Annual Charity 3-Point Shootout at the DAC, which has raised a sizeable portion of money for notable causes.

*DFA Shadow Program*

After a successful trial last year, the DFA has elected to run the Shadow Program again. This gives interested students the opportunity to attend Executive Board Meetings and contribute to all facets of the organizational process. The program lasts roughly 10 weeks (Spring term), but based on performance students may be asked to permanently join the Executive Board for the upcoming year.

Students are invited to submit their resume to dufinance@gmail.com and please be sure to reference the program in the subject line. Interviews will be granted to qualified applicants in the middle of February.

Finally, the Drexel Finance Association would like to thank everyone who attended last night’s General Body Meeting. We hope you enjoyed yourself and will proudly wear your DFA T-shirt!

This past Monday, November 30, the Drexel Finance Association (DFA) hosted its 2nd General Body Meeting of the term–the first time the organization has ever had two in one term.

A modest turnout of just over 30 students received an in depth overview of the events the DFA has planned (so far) for the remainder of the year.

These events include*:

1) Finance Leadership Development Program (FLDP) Event (2/8/2010)–This event will highlight various corporate finance positions at well-known companies around the world.

2) Top Finance Co-op Employers Event (March 2010)–The DFA will co-sponsor this event with UGCS and DIG. Many prominent companies will be on campus for a networking session intended to discuss co-op positions.

3) Hedge Fund Management Event (March/April 2010)–Rob Delany (Drexel alumnus), CFO of Sciens Hedge Fund Management, will present along with several of his collegues the fundamentals of the hedge fund industry.

4) Divine Capital Management Event (April/May 2010)–Danielle Hughes, CEO of Divine Capital Management will lead a discussion on the role of women in business.

5) Networking Event with Young Alumni (May/June 2010)–The final event of the year will feature a host of Drexel alumni who are now working in the finance industry (may also include accounting, consulting, credit rating, etc.).

As always, the DFA welcomes any feedback or suggestions–please email dufinance@gmail.com

*The events listed above are subject to change and may not reflect actual future outcomes. Therefore, anyone reading this after December 2, 2009 is advised to refer to the most recent DFA news release for any event-related updates.