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gainst a backdrop of spectacular, sunny weather, NYU Stern alumni from around the world met in London for three days in early June to listen and learn from distinguished speakers and the School’s own professors. The alumni host committee, co-chaired by Thor Björgólfsson (BS ’91) and Stefano Russo (MBA ’81), assembled an outstanding slate of speakers, including keynote speaker The Right Hon. Gordon Brown, the former UK prime minister who currently serves as NYU’s Distinguished 1 Global Leader in Residence. The range of topics – from the future of advertising and “NYU – the Global Network luxury retail to the outlook University – is the most exciting for sovereign debt and economic growth – provided a thing in education today.” catalyst for conversation — Dean Peter Henry among nearly 250 alumni, drawn from 27 countries as well as greater London. Dean Peter Henry welcomed alumni to the Queen Elizabeth II Conference Center, across the street from Westminster Abbey. Referencing the recent announcement of NYU’s Shanghai campus, to be opened in 2013, as the latest 2 addition to NYU’s Global Network University, Dean Henry called it “the most exciting thing in education.” He shared highlights of a new MBA Launch 2011 program (see page 19) designed to reinforce values and create value for business and society, and announced the
1. Dean Peter Henry welcomed alumni to the opening of the Global Alumni Conference. 2. Vice Dean of Faculty Ingo Walter raised his hand to make a point, as Sovereign Risk panelists (left to right) Professor Roy Smith, Lord Charles Aldington, Professor Ed Altman, and Richard Milne listen. 3. The Microfinance in Emerging Markets panel brought together (left to right) Michael Green, F.K. Day, NYU Professor Jonathan Murdoch of the Wagner School of Public Service, and moderator Matthew Bishop, NY bureau chief of The Economist. 4. Alumni listened to Sir Martin Sorrell, Chief Executive of WPP Group.
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addition of Paul Romer, a worldrenowned economist and conference speaker, to Stern’s faculty (see page 10). Sir Martin Sorrell, Chief Executive of WPP Group, whose advertising and marketing services group has revenues of $13.6 billion and offices in 107 countries, addressed “The Future of Advertising” in an interview with Jeff Randall, editor-at-large of The Daily Telegraph. Contrasting old and new media, Sir Martin called Google a media company masquerading as a technology company, driving clients into channels it controls. He predicted that consumers increasingly will have to pay for content, that there will be further consolidation of power in new media as old media gets weaker, and that state subsidies will increasingly be needed to support old media. He pointed out that the effectiveness of social networking, which amplifies word of mouth, requires that companies pay more attention to reputation, fueling interest in the public relations side of the business. Moreover, PR in its pure form of editorial and opinion has become more important. In a networked world, everyone has to worry about reputation, he observed. The Spectre of Sovereign Risk Shifting to a discussion of sovereign risk, Professor and Vice Dean Ingo Walter led a panel that brought together Lord Charles Aldington, senior advisor of Deutsche Bank in London; Richard Milne, the capital markets editor of the Financial Times; and Professors Roy Smith and Edward Sternbusiness 7
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