SUMMER 2014 PILLARS - University of Virginia · and the development of educational programs. ... “I really appreciated Deutsche Bank’s personality . ... Summer 2014. Pillars ...

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PILLARSNONPROFIT ORG.

U.S. POSTAGEPAIDPPCO

University of Virginia Darden School FoundationP.O. Box 7726Charlottesville, VA 22906-7726

CHANGE SERVICE REQUESTED

Record-Breaking Annual Fund Results

ALSO INSIDE:

The Power of Philanthropy at the Darden School of Business

INSIDE THIS ISSUE

Our Faculty Members Have

a Hard-Won Reputation. Help

Them Keep It.

DARDEN ANNUAL FUND

HITS $5 MILLION

$150 Million Campaign for

Darden Concludes

WHO’S HIRING AT DARDEN? TWO CLASS OF 2014 SCHOLARSHIP RECIPIENTS EXPLAIN HOW DARDEN HELPED THEM LAND THEIR DREAM JOBS.

ISSUE 12 SUMMER 2014

3Center for Asset Management Named for Alumnus 4

The Dean’s Travel Schedule

Thirteen Darden graduates moved to Seattle, Washington, to work for Amazon, one of the top 15 companies hiring at Darden.

The campaign supported numerous initiatives, including:

TWO NEW CENTERS OF EXCELLENCEThe Richard A. Mayo Center for Asset ManagementEstablished in 2013, the Mayo Center for Asset Management aims to advance the study and practice of asset management through top-quality research, regular conferences and activities, support for the students of Darden Capital Management and the development of educational programs.

Darden Institute for Business in Society (IBiS)Established in 2011, the Institute for Business in Society is a leading catalyst and convener of thought, information and action at the interface of business and society. IBiS promotes the development of leaders to positively impact society through their roles in business. Current initiatives include developing award-winning teaching cases, sponsoring speaking visits by regulators and government leaders, establishing leading practice research collaborations and creating impactful thought leadership.

GLOBAL MBA FOR EXECUTIVES (GEMBA)Launched in fall 2010 with support from private donors, the GEMBA format attracts working executives from around the globe who desire to earn an MBA and develop greater business acumen. The program involves the same action-oriented, decision-focused curriculum found in Darden’s full-time MBA and MBA for Executives formats, but is delivered across six terms centered around global residencies.

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The Darden Annual Fund supports all facets of Darden’s renowned education experience. Unrestricted Annual Fund dollars fuel emerging priorities and provide essential operating funds, enabling the School to seize opportunities and support innovation.

The Campaign for Darden, an essential part of the University of Virginia’s $3 billion campaign, realized its $150 million goal in April 2014. Our thanks to each and every donor who made a gift to Darden to support the School’s four philanthropic priorities. Your generosity has firmly entrenched Darden among the world’s premier business schools.

Record-Breaking Results

THANK YOU FOR YOUR GENEROSITY!

YOUR SUPPORT.UNRESTRICTED CASH CONTRIBUTIONS

2014 CLASS GIFT PARTICIPATION

FACULTY PARTICIPATION

ALUMNI PARTICIPATION

LEADERSHIP BOARD PARTICIPATION

$5M99%84%41%

100%

The MBA for Executives Class of 2014 presented Dean Bruner with a check for $83,950, the largest MBA for Executives class gift in the School’s history.

YOUR IMPACT.Your unrestricted gifts to the Annual Fund:

• Create the world’s best education experience. Consistently acclaimed for student satisfaction, Darden combines the case-study method with experiential learning to immerse students in real-life business situations, preparing them as agile decision-makers who are ready to face any challenge.

• Provide funding for a third of all merit-based scholarships. Darden’s ability to recruit the best and brightest students depends on unrestricted funding. Without scholarship opportunities, students may choose to go elsewhere, as Darden will not be able to compete with the offers they receive from other top-tier business institutions.

• Seed new ideas through faculty research. Darden’s new website, Ideas to Action, shares the latest business knowledge from the School’s top-ranked faculty members and offers practical advice that can be immediately applied to the workplace. Darden professors are invested in cutting-edge research on issues such as big data, decision analytics, ethics, effectuation and organic business growth, and their insights help advance business around the world.

• Expand Darden’s global presence by developing responsible leaders for global good. Last year, the Darden Center for Global Initiatives offered 13 Global Field Electives (GFEs) to students. GFEs give small teams of students the chance to provide consulting services to international companies or organizations. The electives have given students opportunities around the world, from Tunisia and Zambia to France and the Philippines.

• Support curricular innovation. The School must continually adapt to and develop new learning opportunities. In 2013, your gifts enabled Darden to create several massive open online courses and the School’s first fully online Executive Education course — Design Thinking for Innovative Problem Solving: A Step-by-Step Project Course.

These advancements and opportunities would not be possible without your support!

For more information about Darden’s Annual Fund, please contact Samantha Hartog, director, Darden Annual Fund, at +1-434-982-2151 or [email protected].

FISCAL YEAR 2014 DARDEN ANNUAL FUND ACHIEVES ALL-TIME HIGH

THE CAMPAIGN FOR DARDEN CONCLUDES WITH MAJOR IMPACT

STUDENT FELLOWSHIP AND FINANCIAL AID

FACULTY SUPPORT AND CURRICULUM

DEVELOPMENTINFRASTRUCTURE, EXPERIENCE AND

TECHNOLOGY

ANNUAL FUND GIVING AND UNRESTRICTED

FUNDS

38% 26%

25%11%

PILLARS The Power of Philanthropy at the Darden School of Business

Total Raised: $150 Million

SOME OF THE MOST PRESTIGIOUS COMPANIES IN THE WORLD ARE HIRING DARDEN STUDENTS.

Top Companies Hiring at Darden and Offers AcceptedCOMPANY OFFERS ACCEPTED

Deloitte .....................................14Amazon......................................13Boston Consulting Group............13PwC ...........................................11Bain & Company ..........................9Accenture ....................................8Microsoft .....................................8McKinsey .....................................6J.P. Morgan ..................................6Anheuser-Busch InBev..................5Deutsche Bank ............................4Johnson & Johnson ......................4A.T. Kearney .................................43M...............................................4Goldman Sachs ...........................4

Center for Asset Management Named in Honor of Alumnus Richard A. Mayo (MBA ’68)

Darden’s Center for Asset Management has a new name.

To honor the contributions of Rich-ard A. Mayo (CLAS ’64, MBA ’68) and his lifetime of service to Darden, the University of Virginia Board of Visitors voted to name the center the Richard A. Mayo Center for Asset Management.

“I have always been a strong supporter of the capital management program for the students at the Darden School — practical learning with academic contribution is most valuable,” said Mayo. “Bob Bruner’s vision is to develop a broader and more extensive program — both to improve the educational experience and to promote research — to enable the School to become a thought leader in the field of asset management, a goal I enthusiastically support. Darden has been instrumental in my own suc-cess, and I am grateful. Success here can signifi-cantly bolster the reputation of the School.”

A longtime supporter of Darden and, in particular, the study of asset management at the School, Mayo has committed to an addition-al level of support for the Darden Center for Asset Management, which will firmly establish the center and set it on a course for long-term success.

“We are so grateful to Dick for his generous support,” said Darden Dean Bob Bruner. “His contributions, along with those made by the

other founding donors, will help Darden deliver a steady stream of new knowledge and research that will explore the full spectrum of asset classes in this important field.”

The Richard A. Mayo Center for Asset Management will serve as a global hub of thought leadership and professional development for faculty, students, alumni and business practitioners in the field of asset management. In addition to the develop-ment of educational programs and regular con-ferences and activities, the center will support and encourage a stream of high-quality research published in top journals; champion the School’s asset management curriculum; enhance Darden Capital Management, the student investment fund program; and develop and market asset management cases and other educational mate-rials. Mayo has been instrumental in the devel-opment of the University of Virginia Investing Conference (UVIC), which is sponsored by the center. The conference, held each fall at Darden, has become one of the most renowned investing conferences of its kind in the country.

Richard A. Mayo was a founding partner of Grantham, Mayo, Van Otterloo and is now the chair of Mayo Capital Partners, which he founded in 2002.

Who’s Hiring at Darden?Two Class of 2014 scholarship recipients explain how Darden and the School’s Career Development Center helped them land their dream jobs.

At 22, Gargi Apte (MBA ’14) was the youngest automation engineer on her team at Symantec. Gregarious and enthu-siastic by nature, she enjoyed the technical aspects of her

role, but after a while she longed for more externally facing custom-er interaction. “I realized an MBA was what I needed to change my career track and move toward product management, as it would help me build the general management skills required to create and grow a business,” Apte said.

Gargi Apte (MBA ’14) Amazon, Senior Product Manager, Technical Projects Landmark Communications Scholarship Recipient

The Richard A. Mayo Center for Asset Management presents the

UNIVERSITY OF VIRGINIA INVESTING CONFERENCE

Join us at UVIC for the ideas you need to invest

successfully in the innovation economy.

Leaders in their fields, UVIC speakers will provide valuable insights and actionable

strategies for investors as they seek to identify the drivers of future growth.

Check the website to register and for more

information on schedule and speakers.

To learn more about Darden recruiting, please contact Assistant Dean for Career Development Jack Oakes (MBA ’89) at [email protected].

Immediately after Amanda Miller (MBA ’14) received a job offer from Deutsche Bank, she got 14 phone calls from Darden alumni at the bank congratulating her on her new role. “They called to say ‘congratulations’ and ‘call me if you have any questions,’” she said.

Even a senior analyst took the time to reach out. “He said, ‘I will take you under my wing, I will be your mentor. You’ll have a good experience if you come to this bank,’” said Miller.

Even before she accepted the job, Miller knew it was a perfect match for her. “I really appreciated Deutsche Bank’s personality during the recruiting process, and I saw myself as a great fit there,” she said.

Miller credits Darden’s network for helping her land her ideal banking job. “I think the network at Darden was enormous in getting me a full-time offer at Deutsche Bank,” said Miller. “Deutsche Bank has a huge Darden presence, and I think Deutsche Bank looks to Darden as its primary network school.”

Darden’s powerful network lured Miller to the School in the first place. “I met a Darden graduate in Atlanta, and she continued to reach out to me as I was applying to schools. We grabbed coffee and had lunch, and she told me, ‘Even if you don’t apply to Darden,

keep me updated.’ Darden is full of people who reach out and are happy to help in any way, shape or form,” said Miller. “She had no vested interest in helping me, but she did. That set the tone for why Darden stood out to me.”

As a First Year student, Miller worked hard because she knew exceptional academic performance was often rewarded with schol-arships. “As a woman, I feel less confident speaking up if I don’t know what I’m talking about, so I spent extra time preparing before learning team, paid attention in learning team and stayed after to make sure I understood what was going on. I wanted to be able to speak confidently in class and get good grades because I knew it would eventually allow me to earn a scholarship,” she said.

Miller was correct, and at the end of her First Year, she received the Class of 1977 scholarship, which pushed her to become more adventurous and global minded. “Having a scholarship lessened my financial burden, so during my Second Year I had some international experiences I might not have considered,” she said.

As she begins her next adventure as an associate at Deutsche Bank in August, Miller looks forward to using the emotional and business intelligence she gained from Darden to help her excel in her new position.

Amanda Miller (MBA ’14)Deutsche Bank, AssociateClass of 1977 Scholarship

and William Michael Shermet Award Recipient

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INVESTING IN INNOVATION13 – 14 November 2014

Darden School of Business

www.darden.virginia.edu/UVIC2014

Summer 2014

When it came to choosing an MBA program, Apte knew she wanted to attend a medium-sized top business school renowned for its faculty, diverse student body and close-knit culture. For her, the Landmark Communications Scholarship was “an indication from the School that I had something unique to add to the Darden class-room. I had a scholarship at another school as well, but I chose Darden because it encompassed everything I was looking for in an MBA program,” she said.

The scholarship allowed Apte to pursue the career of her choice. “Knowing I did not need to aggressively pay back loans allowed me to pursue opportunities of my liking, rather than those that are safe and routine,” she said.

Apte’s scholarship, Darden’s Career Development Center and the School’s alumni community helped her land her dream job: working for Amazon. “When I got the offer, I was ecstatic. I was excited to be part of a rapidly expanding firm that is such a major player in the e-commerce industry. I knew I wanted to be a product manager, and everything about Amazon was so fast-paced and inspiring,” she said.

The job combines Apte’s engineering background with her inter-est in interacting with customers, as well as launching and growing businesses.

“My jump from engineering to management wouldn’t have been possible without my Darden MBA,” said Apte, who will join 12 of her fellow classmates at Amazon’s headquarters in Seattle, Washington, in August.

“ARGUABLY THE BEST COLLECTION

OF TEACHING TALENT

AT ANY BUSINESS SCHOOL IN THE

WORLD”— Poets & Quants

Dean’s Travel Schedule See the Dean This FallDean Bruner has been on the road at least 165 days a year for the past nine years, representing Darden around the world. In 2014 alone, he has traveled to 13 cities from Shanghai to San Francisco to New York City.

This fall, he will be present at numerous Darden receptions, including the Alumni/Admissions receptions listed below. Join us at these events to support Darden, see the dean, network with your fellow alumni and meet prospective students, who are always eager to hear about your experiences.

DATE LOCATION

3 September Chicago

10 September Washington, D.C.

15 September London

18 September Boston

23 September New York City

For more information about Alumni/Admissions events in a city near you, please contact Tilly Greene, associate, Alumni Services, at +1-434-243-8977 or [email protected].

WWW.DARDEN.V IRGINIA .EDU/GIV INGOPPORTUNIT IES

Pillars is a newsletter published by the Darden School Foundation, a nonprofit organization that supports the Darden School by promoting philanthropic support from alumni, friends and corporations; managing endowment funds for the School’s exclusive benefit; and operating Darden’s top-ranked Executive Education program, the Inn at Darden and Abbott Center hospitality. Questions, comments and address changes should be directed to: [email protected] or University of Virginia Darden School of Business, Office of Communication & Marketing, P.O. Box 7225, Charlottesville, Virginia 22906 USA.

Executive Director of Communication & Marketing: Juliet Daum Editor: Jacquelyn Lazo Copy Editors: Catherine Burton, Grier McCain Graphic Designer: Susan WormingtonPhotography: Christopher Boswell, Ian Bradshaw, Jim Carpenter, Tom Cogill, Mikhail Kostylev, Susan Wormington

Dean’s Transition UpdateA Message From Professor Kenneth M. Eades, chair of the Darden Dean Search CommitteeAs many of you know, Dean Bob Bruner announced that he will return to the Darden faculty at the conclusion of his second term as dean of the Darden School. At that time, in July 2015, Bob will have completed nearly a decade of visionary leadership as dean, building on an additional 23 years at Darden as an exceptional teacher. After a traditional one-year leave of absence, Bob plans to return to the Darden faculty to focus on teaching, research and writing.

As the chair of the committee charged with conducting a global search for the ninth dean of the Darden School of Business, I am pleased to announce that we have retained Korn Ferry to conduct the search. Korn Ferry is an interna-tional executive search firm with a variety of specialty practices including their Global Education Practice.

The search process is well under way (see a description of the position at www.virginia.edu/esg/deanofdarden), and our goal is to complete the search and evaluation process before the new year.

Professor Ken Eades

GOAL: To establish a $10 million endowment fund by May 2015 to promote the strategic advancement of Darden’s faculty in terms of skills, intellectual strengths and special pillars of outstanding competence.For more information about this major gift opportunity, please contact Carter Hoerr, executive director for Advancement, at +1-434-924-6576 or [email protected].

Darden Announces the Dean’s Fund for Faculty Excellence

“If I could fill one wish remaining in my time as dean, it would be to supply the resources sufficient to develop, recruit and retain Darden’s world-class faculty. The Dean’s Fund for Faculty Excellence will afford a nimble resource base to seed new pillars of strength and assure Darden’s continuing impact and stature.” — DEAN ROBERT F. BRUNER

Darden’s 70 professors uphold a tradition of teach-ing excellence. Thirty-five percent of the Darden faculty is age 60 or older, which will lead to a wave of retirements in the next decade.This generational turnover presents a strategic challenge — and an opportunity.As business schools worldwide enter a new era of fierce, global competition, Darden must support its all-star professors and attract the next generation of scholars, who — like elite triathletes — will deliver teaching excellence, advance knowledge through research and communicate with the practicing manager, changing the way the world does business.

We at Darden cannot stand still. Not even for a moment. We must accelerate the momentum we have established and: • Develop and retain our top-ranked faculty. We

must provide a supportive, challenging environment in which our professors have the resources they need to mentor students and pursue new knowledge. The market for top talent is fiercely competitive.

• Recruit outstanding professors. To hire the new generation of superior educators and thought leaders whose interdisciplinary work will help move the business profession, we need nimble, strategic resources.

• Strengthen our research capabilities. Darden must develop pillars of research excellence on par with its culture of teaching excellence. If the School can raise its research output and its reputation for new ideas, its overall standing will rise.

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