Bowling Green State University
Proud Parent of a BGSU Falcon
Message from the Chair
Happy and healthy New Year! We are excited to reflect upon the past year through the newest edition of our annual department newsletter in a new format.

The most exciting announcement this past year is that we have successfully launched our new insurance specialization and minor programs last fall. The insurance specialization program is one of only a few four-year degree programs in the state of Ohio specifically focused on Insurance. To promote the program’s long-term collaboration with the insurance industry, we instated the new Insurance & Risk Management Institute (IRMI) with eight charter members and, as a kick-off event, held the inaugural Insurance & Risk Management Symposium under the subtitle of ‘Insurance Industry Trends and Career Opportunities’ last October. We also created the new Insurance Advisory Board and held its inaugural board meeting (jointly with the Finance Advisory Board) last February and its annual meeting (again, jointly with the Finance Advisory Board) last October. This issue of our newsletter will introduce you to the IRMI charter members along with our new Insurance Advisory Board members. We have already had over 40 students enroll in the new courses, with several students in the Insurance Specialization and Minor programs.

The finance specialization continues to be a strong program in the college with 202 students in fall 2015, up from 164 in fall 2014, with a record-setting group of 39 freshmen. We graduated 54 students this past year, out of 328 business graduates. We also have 14 students in our finance minor program, which started in fall 2014. Thanks to your continuing support, we awarded over $20,000 in scholarships and awards to 25 finance students last year. Our finance students continue to succeed in national and international competitions including a third place at the Financial Services Industry Issues Competition sponsored by the Society of Financial Services Professional (FSP) last February. You will see more of their story in this newsletter.

This past fall we were pleased to welcome Roc Starks as new Executive-In-Residence for our Insurance program, but at the same time made a farewell to our long-time colleague, Dr. Daniel Klein, who retired last May after 26 years with the department. You will find feature articles for Mr. Starks and Dr. Klein in this newsletter.

We would like to hear from you and share your stories with our students and alums. Simply email or call so that we can share your story.

The department faculty, staff and students are looking forward to another exciting year of progress. We invite you all to be a part of this endeavor.

Wishing you and your family all the very best for the new year, we look forward to your continued support and hearing from you soon.

Go Falcons!
Sung Bae, Chair
2015 Enrollment Trends

2015 Graduates, Scholarships, and Awards

Congratulations to our 2015 Finance Specialization Graduates

Thanks to the generosity of alumni, faculty, friends and professional organizations, the Department was able to grant more than $20,000 in scholarships for the 2015-16 academic year.


Award Winner Highlights

Three Time Award Winner-James Knippen

James Knippen was recognized at three different ceremonies for his outstanding scholastic efforts. The December 2015 graduate was chosen as the Department of Finance 2015 Outstanding Senior, the 2015 Finance Executives International (FEI) Student of the Year, and the 2015 Avery Denisson Scholarship Winner.

These awards are given to top finance students based on both academic performance and involvement in extra-curricular activities.

Knippen was on the finance team that placed third in the country for the Society of Financial Service Professionals Case Competition. He was also a Deloitte Case Competition finalist, a national semi-finalist for the Engage Stock Pick Competition and a finalist for the BGSU Sales Competition. The finance senior has been an executive intern with Target and a financial representative at Northwestern Mutual as well as an active member of BGSU’s Delta Sigma Pi and the Financial Management Society.

Insurance Specialization Added To Business Program

Due to a projected strong job growth in the insurance industry, the Department of Finance is now offering a new specialization in insurance, along with a minor in insurance. At the national level, more than half of insurance professionals are projected to retire by 2025, creating ample opportunities for entry and career advancement for insurance graduates. According to a recent workforce study by Regionomics, based in Columbus, the insurance industry in the state of Ohio alone will require approximately 26,000 new workers to fill positions open between now and 2020. The state of Ohio ranks seventh in the nation with over 250 insurance companies and 100,000 employees.

Insurance and Risk Management Institute (IRMI)

As part of our new insurance specialization and minor, the Insurance and Risk Management Institute has been created. The institute will provide the opportunity for the Department of Finance to partner with the insurance industry to promote well-trained insurance students.

Inaugural Insurance Symposium

It is estimated there will be 50,000 insurance job openings, including the health care sector, over the next five years. Students had the chance to learn more about these career opportunities at the first annual Insurance and Risk Management Symposium, hosted by the finance department. The event’s theme was “Industry Trends & Career Opportunities” which featured a panel of seven insurance professionals who shared their career insights with students.

Inaugural Insurance Ceremony

Charter Members of the Insurance and Risk Management Institute along with other Insurance Advisory Board Members attended an inaugural ceremony and presentation on October 30, 2015. Students spoke to the attendees about the need for the newly launched insurance program here at Bowling Green State University. Dr. Sung Bae, Chair and Mr. Roc Starks, spoke about the impending need for Insurance professionals in the state of Ohio.
FMS Club Report

The Financial Management Society at BGSU has given students several different opportunities to grow in the field of finance. From networking with professionals to competing in stock competitions, FMS offers something for all finance students. Last year FMS members traveled to the ENGAGE International Investment Education Symposium in Detroit where they were able to listen to several different speakers including: Dennis P. Lockhart, president and CEO, Federal Reserve Bank of Atlanta; Mark Okada, CFA, co-Founder and chief investment officer, Highland Capital Management, L.P.; Steve Liesman, senior economics reporter, CNBC; as well as several others. Along with attending the breakout sessions and live CNBC tapings, Four students (Jim Knippen, Amanda Freedman, Ethan Trombley, and Michael McClain) competed in the ENGAGE Stock Pitch Competition and made it into the top eight presentations. They gained valuable connections through this experience. FMS plans to attend ENGAGE 16 this spring in Chicago.

Finance Alum Uses CFA to Leverage Opportunities

Finance Alumni, Brett Newman, managing director at Blackstone, recently offered the following advice to students and recent graduates on the CFA professional designation:

“Obtaining the CFA designation was a critical step in my career development, and I think it can really help students who are seeking to launch investment-oriented careers.”

“I began pursuing the CFA almost immediately upon joining PricewaterhouseCoopers (PwC), after graduating from BGSU in 1999. My intent was always to use accounting as a route to a career in finance , but I needed a way to differentiate myself among my colleagues in the firm's audit department. So I leveraged the fact that I was completing the CFA program to obtain assignments with a PwC specialist group that valued over-the-counter derivative positions for large banking clients. After performing well in the derivatives valuation group, I was afforded the opportunity to join the firm's mergers and acquisitions consulting practice, which had only recently been launched and was rapidly growing. My differentiated experience within PwC, combined with the fundamental understanding of finance I obtained from the team at Bowling Green and the CFA program, were keys in getting accepted to Chicago's MBA program - which then truly unlocked an entire new world of career opportunities.”

In 2007, Mr. Newman joined Blackstone, located in New York City, as a member of Blackstone’s M&A Advisory Business group. He worked with a wide range of third-party clients on numerous transactions in the asset management, specialty finance and health insurance industries. In 2014 he moved to his current position as a Managing Director in the Corporate Development Group, where he works on various strategic initiatives including acquisitions, joint ventures, partnerships and divestitures. He said, “I continue to appreciate the foundational education in finance I received at BGSU, in particular the rigor and academic standards Dr. Bae set for high-performing students, and look forward to supporting the department in the future. “

Mr. Newman received a BSBA in finance and accounting from Bowling Green State University and an MBA with high honors from the University of Chicago, Booth School of Business.
Student Success

BGSU Team Takes Third In the Nation

BGSU has another team of students that finished among the top colleges and universities. Business students Alex Batt and James Knippen represented BGSU in the Foundation for Financial Service Professionals (FSP) 2015 Industry Issues Competition. The competition offers colleges and universities the chance to explore important hot topics in the financial services profession. The critical issue of this year’s competition was “Career Evolution…How Did You Begin, Where Are You Now, and Where Do You Expect to Wind Up?” The finalists were selected from written submissions exploring three professional career paths and the top teams presented at the FSP Annual Conference in Phoenix, Arizona.


Faculty and Staff Information
Finance Department Bids Farewell to Dr. Dan Klein

Dr. Klein joined the BGSU Department of Finance in 1989 and served as chair of the department from 2003 to 2010. He is a former holder of the Ashel G. Bryan/Mid American Bank Professorship and has been awarded the Chartered Financial Analyst designation. His teaching interests included investments, corporate finance, and personal finance and his areas of research included initial public offerings, options and futures markets, corporate structure, market efficiency, and corporate governance.

A retirement celebration dinner was held for Dr. Klein and many current and former colleagues were in attendance. Dr. Klein is regarded as an excellent teacher that cared deeply for students and their futures. He said, “I have thoroughly enjoyed my time as a faculty member at BGSU in the College of Business. I have enjoyed the many challenges of being an instructor for, and an advisor to, the young people who have made their way through our program. My best memories have been as faculty advisor to the teams of students who have represented the department and the University in the CFA Institute University Investment Research Challenge.”

Since his retirement, Dr. Klein has successfully coached a high school tennis team. He continues to mentor students here at Bowling Green State University and can be seen on campus meeting with students. The department wishes Dr. Klein much happiness in retirement and thanks him for all of his years of service to the Finance Department.

Finance Department Welcomes:

Roc Starks, Executive in Residence, Instructor, was the senior vice president, director of insurance for Citizens Financial Group, Inc. headquartered in Providence, RI from 1990 to 2015.

Roc was responsible for corporate insurance programs including property, liability, workers compensation, directors and officers, employment practices, banker’s professional liability, and all other corporate insurance policies.

This first semester at BGSU, Roc taught Insurance Company and Insurance Agency operations, Life and Health and Introduction to Insurance and Insurance Careers classes. He is also involved in the Assurance of Learning Committee, The Family Campaign Committee, Owens Community College Insurance Advisory Board and the Risk Management Committee for the recolonization of Theta Chi Fraternity at BGSU.

Roc has over 28 years of insurance experience including a start at Prudential Insurance as a debit agent, marketing life, health, auto, homeowners, annuities and mutual funds. He has a bachelor’s degree in biological sciences from Bowling Green State University, received the Certified Insurance Counselor (CIC) designation in 1992, the Certified Risk Manager (CRM) designation in 2001 and the Associate in Risk Management (ARM) designation in 2012.

Roc has been married to Lee A. Field-Starks for over 25 years. Their children, daughter Regan and son, Rocky are both pursuing higher education degrees here in Ohio.

Dr. Li Qian is an associate professor of finance at East China Jiao Tong University. His primary research areas include Corporate Finance, Market Microstructure and Chinese Equity Markets. After joining ECJTU in July 2005, Dr. Qian has published more than twenty peer-reviewed papers and his research works have appeared in top finance journals in China such as Economics Research Journal and The Journal of World Economy etc. Now he is a visiting professor at BGSU and working with Dr. Mingsheng Li for one year.

Advisory Boards

Finance Advisory Board Insurance Advisory Board