NYU Stern
Share / Print
Student Club Events

Prof. Roy Smith Underscores Wall Street's Important Role in Spurring Economic Development at Summit

Roy Smith 122x183 Image

On October 29, the NYU Stern Sales & Trading Club hosted its third annual summit, bringing together students, alumni and industry leaders in the sales and trading industry to candidly discuss career paths and current opportunities in the field.

NYU Stern Professor Roy Smith stressed the important role that financial intermediaries, such as those in the sales and trading industry, play in economic development. Despite the criticism that Wall Street has received throughout the financial crisis, he argued that most of the world’s economic development is made possible via funding from private investment funds, which are re-allocated by professionals in the finance sector. In this way, the global capital markets are critical in financing large business developments, said Professor Smith. Wall Street, in a sense, is the center spoke of intellectual property, he concluded.

A panel of practitioners – Phil Giordano (BS, ’03), vice president of distressed equities at Deutsche Bank; Vinod Addidam (MBA, ’07), associate in global market equities at Deutsche Bank; Fritz Muench, director of institutional equity sales at UBS; and Benjamin Canet (MBA, ’09), associate of equity sales at UBS – talked in-depth about their career paths, lessons learned, on-the-job experiences throughout the global economic downturn, how to find the right fit in a firm and more. When asked to describe the characteristics of a successful recruit, the panelists offered:

  • Passionate
  • High energy
  • Curious
  • Reliable, with a good work ethic
  • Team player with a down-to-earth attitude
  • Knowledgeable about the market and able to defend a point of view

Find out more about NYU Stern’s Sales & Trading Club