This year, as business students across the country struggled to find jobs, the second year MBA class made history. More students than ever before – 90 percent – donated to the Second Year Class Gift Campaign. In doing so, the Class of 2002 broke all historical records – their gift totaled $451,645, a 144 percent increase from the previous year.
Wharton traditions run deep. And in this challenging economic year, the final student tradition for graduating MBAs, the Class Gift, was all about lending support, having faith, and giving thanks.
“It’s an opportunity for us, as a graduating class, to show our support for the future of Wharton,” explains Ellen Desmarais, who co-chaired the 2002 Class Gift. “It’s also a thank you – to the generations of alumni who supported our education with their gifts.” “It’s been a tough year for all of us. Our class is sending the message that we have faith in Wharton, and everyone else should too.” says Mary O’Loughlin, who spent many hours at a table in Vance Hall’s Sun Lounge collecting pledges. “Yes, it was a lot of work. But it was certainly worth it. I’m overwhelmed by how generous people were.” “In the worst year ever for MBA student placement, our class really came through,” agrees Desmarais.“We had a great team to work with. It couldn’t have happened without the commitment and energy of a lot of volunteers.”
Another key team member was Richard MurrayBruce, who co-chaired the Class Gift with Desmarais. To Murray-Bruce, who comes from the U.K., the Gift represents Wharton’s greatest strength: unity in diversity. “The Class Gift celebrates the union of the many nationalities that make the Wharton community so strong, and the amazing learning and growing experiences we’ve had here together,” he explains.
Desmarais and MurrayBruce, as well as O’Loughlin, are among the 68 percent of the Class of 2002 who had jobs lined up at graduation. (In 2001, 90 percent of MBA students had job offers by that time.) Desmarais, who majored in strategic management at Wharton, will join McGraw Hill’s Associate Development Program in New York this fall, while Murray-Bruce has signed on at Boston Consulting Group in London. O’Loughlin, who studied multinational management, is in Minneapolis for a management training program at UnitedHealth Group.
This year’s Class Gift is the first ever to be donated to the Wharton Fund, providing important unrestricted support to address the School’s greatest needs. “We know that our money will help fund large, strategic objectives. That’s important to helping Wharton remain a top-ranked school,” explains O’Loughlin.
Adds Desmarais, “Unrestricted gifts were key in such new developments as Wharton West, INSEAD, and Knowledge@Wharton – all projects that help build the Wharton brand globally.”
When speaking with classmates, Desmarais realized that there were misconceptions about Wharton. Remembers Desmarais: “ They would say ‘Isn’t Wharton rich?’ We spent time explaining that Wharton is certainly rich in resources, but not in dollars. In fact, Wharton actually has one of the smallest endowments of any top business school. It’s alumni support that makes the difference.”
In the end, reasons for pledging were varied… and highly personal. “My donation was the next natural step in my relationship with Wharton,” explains Gil Ben-Artzy, who came to Wharton from Israel and recently began his new job at Boston Consulting Group. “It started as I was accepted to Wharton. It continued throughout my MBA studies. Through my Class Gift, I pledged my lifelong connection as an alumnus.”
Renewing the Bond
They call themselves the Seven Dwarves. No, they’re not particularly small, and they don’t have funny names. But on May 11, they pulled off a reunion event that was nothing short of magical. The “WEMBA XI’s” – the 11th graduating class of the MBA Program for executives – gathered on Friday, May 11, to kick off Reunion 2002. These 1987 graduates came from around the world to renew their bonds with Wharton, and with each other. More than half the class attended…and as reunions go, that’s huge. The Seven Dwarves made it happen. They are the seven reunion committee members who refused to give up, calling, e-mailing, and writing their fellow alumni until they had tracked down all but two classmates.
“We had an extraordinary group of people in our class at Wharton. Unfortunately, it’s easy to lose touch with all but a few,” says Scott Wieler, WG’87, one of the Dwarves. “Wharton was, and is, a very important part of our lives, and being a member of this alumni network is priceless.” How did they convince so many of their classmates to make the trip? “Peer pressure and multiple nudges are the key, as well as viral marketing and multiple points of contact.” says Weiler, president and CEO of Signal Hill Capital Group LLC. The Dwarves point to the e-mail trail they left behind as they networked, pleaded cajoled, and used old-fashioned detective work to locate classmates they’d lost touch with. Often, contacting one “missing” alumnus took days of cross-referencing, calling old employers, and, in one extreme case, driving to an alumna’s former home and talking with the current resident.
“Reconnecting with classmates, their families, our professors, and the school is inspiring for all of us. It was a huge satisfaction to enjoy that first beer at the bar with the majority of the class, and to toast for continued success and happiness for all of our classmates,” and that, says Wieler, made the hours of work worthwhile.
And, for those classmates who were not able to attend the reunion, many were there in spirit. That first beer that Wieler mentioned was bought by Andre Berenfeld, WG’87, a principal at Breckenridge Capital, Inc., who, though unable to be in Philadelphia, funded the first round for all ‘87 WEMBA alumni present.
As always, the biggest draw of the weekend was reconnecting to classmates and Wharton…and having some fun in the process. On Saturday night, playing their hearts out, were the Rolling Clones, a Stones cover band led by – you guessed it – an ‘87 alumnus, Arthur McQueen.
“As a dare four years ago, I formed a band to play Rolling Stones songs at a party,” he says. “We were such a big hit, we decided to expand our repertoire and play clubs in Chicago.” The audience in Philadelphia may have been the Clones’ most appreciative ever, as the band, with McQueen’s wife on keyboards, belted out “Start Me Up” and “Satisfaction.”
“Reunions give folks the chance to step back and assess how far they’ve come over the years,” says Diane Ty, a member of the Class of ‘87 reunion committee who lives in Washington, D.C., where she runs her own nonprofit, YouthNOISE. “We all had our dreams coming out of Wharton, and these events allow us to take stock of our lives.” For the Class of ‘87, they are lives filled with commitment, enthusiasm, and a lifelong connection to Wharton.
Expanding a Global Network
As May 16 approached, Wharton alumni around the world put their busy lives on hold, packed their bags, and headed to the City of Lights. They were participating in the 2002 Wharton-INSEAD Economic Forum, co-sponsored by the Wharton Club of Paris and INSEASD.
In Moscow, Shiv Khemka, WG’90, G’90, executive director at Sun Capital and SUN Interbrew, left for Paris. In Israel, Gideon Tolkowsky, WG’83, a founding partner at Veritas Venture Partners and a speaker at the Forum, and Isaac Devash WG’88, president of the Wharton Club of Israel, both new members of Wharton’s Executive Board for Europe, Africa and the Middle East headed to the airport. And in Chicago, Alexandra Zaporozec, WG’92, fresh from chairing her class’ 10th year reunion in Philadelphia, said goodbye to colleagues.
What drew these alumni, and more than 300 others, to the Forum? Was it the timely theme, “Responding to Uncertainty: New Responsibilities and Challenges for Leadership?” Or the draw of the first joint Forum ever between Wharton and INSEAD? Was it the impressive list of more than 30 speakers, or the spectacular dinner at the Chateau de Versailles?
It was all that…and more. By taking part in the Forum, alumni expanded the global network that is critical to Wharton’s future. In recent years, this network has grown to include more than 75,000 alumni in 137 countries. Its power is boundless.
“Alumni involvement is vital to keeping Wharton open to the world,” says François Balsan, W’81, Managing Partner at Balsan & Associés, who spearheaded the event. “It is the only way for us to become more and more of a community of influence in Europe and on other continents.” “And this year’s Forum was particularly effective,” he added, “because it adds a new dimension to the network: bonds between alumni from Wharton and INSEAD.”
François Balsan, W’81, Managing Partner at Balsan & Associés, and Frédéric Dubois, WG’73, co-chairman, Wharton-INSEAD Economic Forum, chairman and chief executive officer, Sante Finance
It took months of preparation by members of the Wharton Club of Paris to finally kick off the Forum.
The Forum’s content reinforced Wharton’s longheld reputation as an innovator. At lunch on Friday, at the Palais de Congrès in Paris, Gerard Kleisterlee, Chairman & CEO of Philips and a graduate of Wharton’s Advanced Management Program, gave the keynote address. Panel discussions on family business; private wealth management; media, entertainment, and technology; and risk management helped shape the evolving definition of global leadership. “The Forum is our main way of staying in touch with alumni,” says Wharton Professor Mauro Guillen, who led a panel at the event. “We endeavor to establish lifelong ties with our students…It is so important for Wharton as a community.” “To me ‘globalization’ is not about mega business structures… It’s about weaving a fabric of ideas that engulfs Earth,” said Tolkowsky, who spoke on challenges and uncertainties of the 21st Century. “In this sense, the Wharton-INSEAD Forum was like sitting at my loom and weaving just a few more threads into the global fabric, with a Wharton needle that I acquired almost 20 years ago.”
Keeping Wharton Moving
Pledging their faith through the Second Year Class Gift Campaign, working day and night for a special reunion, or crossing contingents to strengthen bonds, the alumni on these pages demonstrate a steadfast commitment to Wharton.
The Wharton experience continues to evolve for these active alumni. With each investment of time, effort, or dollars, they strengthen their ties to a community that will always be a critical force in their lives. Together, their energy and passion will take Wharton to even greater heights.
