Annual Business Meeting and Networking Reception

Members gathered for the annual business meeting of the CFA Society Chicago on June 15th at the Wyndham Grand Riverfront Chicago. Held in the hotel’s 39th floor penthouse lounge, the event offered grand views of the intersection of the Chicago River and Michigan Avenue as well as the buildings—both old and new—in the area.

Shannon Curley, CFA, CEO of the Society, kicked off the business part of the event by recognizing the society’s staff and board, as well as Advisory Group co-chairs for their contributions during the past year.  He noted that their efforts make our chapter the vibrant society that it is. He turned the mic over to Doug Jackman, CFA, out-going chairman, who summarized the highlights of the past year. Membership has increased to over 4,600 making the Chicago society the sixth largest in the world, and–as the oldest in the world–we rank as a leader within CFA Institute.

156CFA Society Chicago sponsored 150 events in the fiscal year with one of the most successful ones being the just completed Active vs. Passive Debate featuring Nobel Laureate, Eugene Fama. Jackman emphasized that the focus of programming has been (and will continue to be) education and advocacy of financial literacy. A few of the prominent names who presented at chapter events in the past year include Charles Evans (President, Federal Reserve Bank of Chicago), David Kelly, CFA (JP Morgan), T. Bondurant French, CFA (Adams Street Partners), Liz Ann Sonders (Charles Schwab), and Dan Clifton (Strategas). The new Vault Series brought in industry experts to address special topics. The first speakers included Melissa Brown (Axioma), David Ranson (HCWE & Co.), and Doug Ramsey (Leuthold). Jackman also recognized the work of the Professional Development Advisory Group in producing numerous events to help our membership enhance “soft-skills”.

123Secretary/Treasurer Tom Digenan, CFA (now vice chair of the Society) presented the financial update highlighted by a $100,000 operating surplus (thanks to strong attendance at the Distinguished Speaker Series lunches and the Annual Dinner) and a $200,000 capital gain in reserves leaving them at 16 months of coverage (vs. a target of 13 months).

Jackman next presented the slate of officers for fiscal 2018 including Marie Winters, CFA, as chairman, Tom Digenan, CFA, as vice chair, and Tanya Williams, CFA, as secretary/treasurer. In addition three new Class C Directors were nominated for three year terms and four new Class E Directors were nominated for one year terms. All candidates were approved by a “show-of-hands” vote.

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Jackman then recognized out-going board members Kerry Jordan, CFA, Chris Mier, CFA, Maura Murrihy, CFA, Mark Schmid, and Lyndon Taylor as well as nine departing co-chairs of advisory groups. Curley similarly recognized Doug Jackman, CFA, for his service as board chairman including reinvigorating the relationship between our society and the University of Chicago and for obtaining funding from the CFA Institute that allowed us to bring in notable speakers like Eugene Fama and Tom Ricketts, CFA.

Finally, incoming chairman Marie Winters, CFA, looked to the future, describing her hopes to build on our past successes in the areas of employer engagement, volunteerism, and the challenges presented by technology and new regulations. Winters also pointed to improving gender diversity as a focus of attention, noting that it is surprisingly poor (just 13% of our members are women) for an industry built on a foundation of diversification.

With the business part of the meeting completed, attendees moved to the outdoor patio to enjoy the views and libations.

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CFA Society Chicago’s 2016 Annual Business Meeting

DSC_2952Beginning with a cocktail and appetizer hour, CFA Society Chicago’s annual business meeting was held at the Virgin Hotel on June 20th. Chief Executive Officer, Shannon Curley, CFA, led off with a summary of this past year which he labeled under the major theme of “Building the Base”.

The four major activities of focus were:

  1. Redesigning the website
  2. Working with CFA Institute to rebuild the CRM database
  3. Improving outreach to local universities and employers
  4. Preparing the office move to 33 N. LaSalle Street, Suite 910, Chicago, IL 60602

Following Curley’s remarks, Chicago Chairman Kerry Jordan, CFA, highlighted some of the accomplishments of this special 90th anniversary year:

  • The Society hosted over 130 events (with 9 sellouts!)
  • Record attendance at the 2015 Annual Dinner
  • Membership is up to 4,524 total members

Jordan complimented the invaluable contributions of the Advisory Group Co-chairs, and made special mention of the increased program offering of the Professional Development Advisory Group.

Examples of new or expanded initiatives include:

  • Creation of a new task force to determine how the CFA Society Chicago can be more helpful toward advocacy:
  • Launching of the CFA Women’s Network
  • The financial literacy program
  • Education of pension trustees
  • Branding campaign
  • Community service

Jordan then spoke about a few global initiatives involving the CFA Institute. Paul Smith, CEO of CFA Institute, has scheduled visits at over 140 local societies across the globe and was in Chicago to attend the regional and global finals of the CFA Institute Research Challenge.  Over the past year the CFA Institute has redesigned how local societies can receive funding for building brand awareness.

Jordan participated in the global brand campaign as part of a committee including six other charterholders to discuss the charter, what it means and how it can be made more prominent in the future.

Jordan then concluded by thanking the CFA Society Chicago staff and Shannon Curley, CFA, for his effort to grow the Chicago Society.

Marie Winters, CFA, Treasurer of CFA Society Chicago, was introduced next. Her remarks were brief, but included the society’s current financial standing including reserves sufficient enough to cover 14 months of operating expense. Recently we have used reserves strategically to upgrade technology and quality of programming.

After the 2015-2016 executive committee was thanked, Doug Jackman, CFA, was introduced as the incoming Chairman.

In the business portion of the meeting, the by-laws were approved, as well as the new slate of directors and officers for CFA Society Chicago.

Awards for amazing service were given to Justin Shepard, CFA, and Chris Vincent, CFA, and a special thanks was given to Larry Cook, CFA, who is departing as the Education Advisory Group co-chair.

Finally, Jackman was introduced as the next Chairman of the Board of Directors. Jackman spoke about not having a personal agenda, just his privilege to oversee the overarching agenda to build a strong Society which thrives on its volunteer system. Toward this goal CFA society Chicago plans to invest in upgrading systems and generating more active participation by members and member firms.

CFA Society Chicago is open to any ideas on how the Chicago society can further strengthen its brand and reputation.

The evening concluded with a reception that was a great opportunity to reconnect as well as meet new and interesting members.