K-State Finance Scholars Annual Report 2023-2024

KANSAS STATE UNIVERSITY

FINANCE SCHOLARS 2023-2024 Annual Report

Table of Contents 2 Note from the Director 3 Company Trips and Travel 5 Workshops & Meetings 6 Trainings & Competitions 7 Alumni Spotlights 8 Program Overview 9 Facts & Figures 10 Special Thanks 11 Meet the Finance Scholars

New York City trip, Spring 2024 Prime Finance

A Note from the Director When the Gates Capital Management Center for Financial Analysis was first established, our primary mission was to elevate the knowledge, skills, and career outcomes of our students. We continue to serve this mission within the K-State Finance Scholars Program by identifying highly ambitious students who aspire to competitive finance careers typically recruited at “target” universities. We support these students through career development, technical training, soft skills enhancement, industry connections, and a solid academic foundation. Additionally, we create a supportive yet rigorous learning environment aimed at preparing them for internships and fulltime roles in investment banking, asset management, private equity, and management consulting.

The 2023-2024 academic year was a busy but rewarding journey for us. We hosted nineteen industry professionals for on-campus visits and conducted twelve workshops on technical content during our 7:30am Friday meetings.

Five of these workshops were led by VPs who are leaders of the program and have internship experience in their target sectors. Additionally, we continued our partnership with Training the Street, which helps train students in technical interviewing skills through two workshops each academic year.

Scholars also participated in finance competitions, including two internal competitions: the Gates Capital Management Stock Pitch Competition and the 24-hour Security Analysis Challenge.

This year, we increased the amount of travel with eight group trips. After last year’s London trip, we committed to making one international trip per year, and this year we traveled to Singapore over the winter break. These trips are essential for connecting with industry supporters and friends, building relationships with alumni and industry leaders, and inspiring our students by exposing them to various sectors within finance. Scholars also have opportunities to take individual trips to deepen their connections with alumni and friends.

Our students’ hard work was rewarded with excellent placements in our target sectors this year. Eleven of our scholars graduated, all having accepted offers several months before their graduation date. We observed a significant increase in average starting salaries for this cohort, reaching the highest level since the inception of the program. Additionally, all juniors and nearly all sophomores secured summer internships at prestigious firms such as Goldman Sachs, JP Morgan, Magnetar Capital, and Deloitte Consulting.

We are pleased with the program outcomes this year, but our goals remain higher. The results achieved to date are due to the grit and determination of our students and the generous support our alumni continue to invest in our vision. This includes everyone who travels to our workshops, hosts us for on-site visits, helps us make industry connections, mentors our students, and financially supports our activities. I am constantly humbled by the level of support K-State alumni provide to their fellow Cats. If this report is your first introduction to our program and you would like to become more involved, please reach out to me or our program coordinator, Julia Parcell.

Dr. Sabuhi Sardarli

Associate Professor of Finance Director, Gates Capital Management Center for Financial Analysis

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COMPANY TRI PS & TRAVEL Scholars in our program have been capitalizing on valuable networking opportunities this year! We embarked on exciting trips to eight cities.

DA L L AS g Neuberger Berman g Wingstop Restaurants, Inc. g Canyon Partners, LLC g BNSF Railway g Trinity Hunt Partners g Riveron

IN THE FALL, Finance Scholars visited Kansas City and Dallas and were able to learn about several finance careers. A group of students visited Boston and connected with several divisions of Bain Capital, where they gained an in-depth knowledge of private markets landscape in the city.

Thanks to the support of Paul Edgerley and the incredible planning capacity of Liz Milch, we not only had amazing site visits, we were treated to a Celtics game, an art tour at the ‘Quin, and a case discussion at Harvard Business School with Senior Lecturer John F. Baxter III. Each experience was unique and wonderfully captured the best of Boston.

“Even as a senior, the trip to Boston was incredibly impactful.

Engaging with leaders in their respective fields was thoughtprovoking, and meeting with executives from an MBB firm provided invaluable advice as I prepare to launch my career in consulting full-time. Exploring Boston with friends and trying fresh seafood was amazing.”

Emma Stegman, Vice-President

BOSTO N g Bain Capital: - Tech Ops - Life Sciences - Real Estate - Portfolio - Credit - Private Equity - Ventures - New Profit - Double Impact g Fidelity Investments g Adage Capital Management g Goldman Sachs g Bank of America g Harvard Business School

“It’s always nice to have an opportunity to get together with other K-State alumni and students in a dinner setting. So appreciative to Jeff Gates for hosting us. I’m constantly amazed at the success our alumni are having within the broader financial industry and am even more amazed by the talented students coming out of the college of business today. It makes it so easy to be an advocate within my organization when it comes to recruiting K-State students.”

Darin Mainquist, Director, Real Estate Corporate Banking, BMO Capital Markets

IN THE SPRING, Scholars traveled to Chicago, New York and Topeka to focus on firms in asset management and investment banking. Alumni dinners were a highlight of the Chicago and New York trips where we connected with K-Staters in the area. Thanks to program supporters, Jeff Gates and Randall Stuewe, our group had the honor of touring the NYSE on the day of the Reddit IPO. Special thanks to Paul Dorfman, Head of Listings, NYSE, for a personalized tour of the building and an incredible educational opportunity.

“The opportunity to travel to finance hubs and expand my network outside of Kansas has been a huge resource for me the last two years. Trips have broadened my view of opportunities I could have after graduation.”

Michael Tumberger, Associate

C HI C AG O g Magnetar Capital g Solomon Partners g LSV Asset Management g Chicago Booth BPOC Private Equity Conference 3

“It is exciting to see the continued progress the business school is making and the corresponding growth and professionalism of the students coming out of the Finance Scholars Program. It’s always great to connect with the students when they come to Chicago.”

Austin May, Vice President, Solomon Partners

N E W YO R K CI TY S INGAPORE Finance Scholars embarked on their second international trip, led by Finance faculty Sabuhi Sardarli and Tareque Nasser, alongside Program Administrator Julia Parcell. 13 students delved into the vibrant finance landscape of Singapore. The itinerary included visits to firms specializing in investment banking, asset management, trading, and consulting sectors.

This immersive experience offered valuable insights into the global dynamics of finance.

We visited 14 firms over a three-day period. During free time we visited Marina Bay Sands, Gardens by the Bay, the Singapore Zoo’s Night Safari, mosques and temples, as well as several Hawker Centers. g JP Morgan Asset Management g KKR g DBS Bank g Capula Investment Management

g Global X ETFs g Deloitte Consulting g Ernst & Young g Stone X g K3 Ventures g British Petroleum

g Axiom Asia Private Capital g Wells Fargo g CBC Group g Rabobank

g Gates Capital Management g JP Morgan Asset Management g Stone Harbor Investments g Prime Finance g Protiviti g Global X ETFs g BMO Capital Markets g Bloomberg g NYSE

Individual Trips Finance Scholars also took individual trips to network in cities and attend Super Days.

These trips are supported by the program as they are an important piece of securing internships.

Conferences

In the spring, Finance Scholars attended a conference hosted by the Chicago Booth Private Equity Group and the Polsky Center. The conference provides a platform for investors, students, and entrepreneurs to network and share valuable insights into investing in a dynamic economy. Also, a group of scholars traveled to Kansas City for the DeMarche Investor conference and to Columbia, MO for the Main Street Summit.

“I had the privilege of joining the KSU Finance Scholar Chicago trip, where I attended the Booth Private Equity Conference. This conference marked my inaugural trip with the Scholars, and my very last trip. This year was exceptionally beneficial as I applied my evolving comprehension of financial markets to gain deeper insights.”

Reese Kuzniakowski, Vice-President

“An individual trip to New York provided me the opportunity to meet incredible people and hear about their stories and respective industries.

I was fortunate to build relationships with eleven individuals over two days, whose advice helped me better understand my own career goals. I’m grateful for the Scholars Program and mentors like Darin Mainquist and Jim Kennedy, whose guidance made these visits possible.”

Max Roberts, Analyst

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WOR KS H O P S & ME E TIN G S At 7:30am on Fridays, Finance Scholars meet and hold workshops featuring alumni, faculty, and industry professionals.

2023-2024 On-Campus Meetings VantEdge • Amy Christie, Executive Assistant • Trevor Lott, Managing Director • Tommy Trueblood, Senior Associate Shell • Jeremy Lutz, Senior Finance Advisor Magnetar Capital Tailgate • Ernie Rogers, COO/Partner • Siobhan Morrissey, HR Associate • Sydney Johnson, Portfolio Finance, Alternative Credit and Fixed Income • Lavonne Harris, CFO Koch Distruptive Technologies/ Koch Equity Development: • Keaton Goedert, Director • Weston Hack, Koch Equity Development

DC Advisory • Cooper Kinley, Associate Lateral Investment Management, LLC • Ashley Ebeck, Growth Equity Senior Associate University Venture Fund-Crossroads • Jeffrey Stowell, Managing Director at Royal Street Ventures CC Capital Advisors • Stephanie Siders, Managing Director • Hayden Merritt, Senior Analyst

Scholars join Clay Brethour, Maclura Investments for a coffee chat.

Prairie Capital Management Group, LLC • Rob Schneider, Managing Director

Pandi Capital • Michael Emley, Investment Analyst

KC Current • Don Haas, Vice-President, Finance and Accounting

Jones Day • Bill Zawrotny, M&A, Technology and Life Sciences Partner

CIBC Middle Market Investment Banking • Rollie Gomez, Analyst

Principal Financial • Elizabeth Snodgrass, Senior Managing Director

Maclura Investments • Clay Brethour, President and CIO

Equity Methods • Josh Schaeffer, Managing Director

Jeremy Lutz joined us to share his career journey.

UMB Asset Management • Jacquie Ward, Director of Private Investments

Scholars discuss Contract Terms in Private Equity Transactions with Senior Lecturer, John F Batter III at Harvard Business School

Stephanie Siders and Hayden Merritt of CC Capital Advisors walked us through a pitch deck.

Workshops • Case Interview Workshop Deloitte • Event-driven Hedge Fund Security Analysis Jeff Gates, Managing Partner, Gates Capital Management • Equity and Inclusion in the Financial Industry American Century Investments • Python Workshop, Koch Reagan Irvin, Investment Analyst; Suzanne Roggenkamp, Market Risk Analyst

VP Workshops Vice-President is our highest title in the program. These leaders are expected to help train younger scholars in their target areas. They also prepare newletters for larger audiences. This year they offered several workshops.

• Choosing a Target Area Within Finance: All VPs • Networking: Shayla Cowin, Emma Stegman, Maddie Rimmer, and special guest Josh Glunt • Interviewing Techniques and Tips: Reese Kuzniakowski, Jacob Doyle, Hugo Nascimento • Capital IQ: Blythe Bolar and Hannah Higgins • Case Interviews: Emma Stegman, Maddie Rimmer, Shayla Cowin 5

• Gates Capital Management Speaker Series - Lords of Easy Money Chris Leonard • VantEdge PE workshop • Building a LinkedIn Presence workshop with Julia Parcell • Risk Perception Andy Fastow, former Enron CFO • AI Portfolio Management Ravi Koka, Founder & CEO

TRAI NI NGS

Training the Street / Internal Trainings

Spring training for Financial Modeling and Excel Skills

A New York based firm, Training the Street, offered an LBO and M&A workshop in the fall, as well as a two-day workshop in the spring on Financial Modeling and Excel Skills. Scholars also engage in internal trainings led by faculty and the program’s VP students. The program mandates additional completion of training packages including Wall Street Prep and Bloomberg Market Concepts certification.

COM PE T I T I O N S Internal Competitions: • 24-Hour Security Analysis Challenge • Gates Capital Management Stock Pitch Competition External Competitions: • CFA Research Challenge • Southeastern Hedge Fund Competition • Florida Investment Challenge • CME University Trading Challenge • CSBS Community Bank Case Study Competition • Harvard Global Case Competition

Gates Capital Management Stock Pitch Competition First place: • Joey Gillette, Nash Bezanson and AJ Lenartowicz pitched a short on MCW. Second place: • Maddie Rimmer, Emma Stegman, Hannah Higgins and Blythe Bolar pitched an SEM buy (up 45% since the pitch).

24-Hour Security Analysis Challenge The third annual 24-Hour Security Analysis Challenge was held in the fall. Students participated in teams, each assigned to analyze VLTO, with a 24-hour window to make trade recommendations. Following the challenge, Jeff Gates conducted a workshop on campus to review the teams’ findings and suggestions. Check out these photos showcasing the student teams in action during the event.

Third place: • Hugo Nascimento, Jacob Doyle, Reese Kuzniakowski and Landon DiLeonardo pitched a VICI buy (up 11%, with a 5.5% dividend yield since the pitch).

Freshman team honors: • Sam Baldwin, Max Waren and Andrew Seger Special thanks to judges: • Jeff Gates, Andrew Thomas, Taylor Werner, CJ Heinz, and Jonathan Huhn 6

A LUMNI SPOTLI GHT M AD I S ON B ROWN ’ 21

ROLLI E GOMEZ ’22

Madison Brown (‘21) is currently working

Upon arriving at K-State, Rollie Gomez

as a Consultant for Deloitte, out of

(’22) was not entirely sure of his career

their New York office. After finding

path, but attributes the help of the

an unexpected niche in sourcing and

Finance Scholars Program as well as his

procurement, she enjoys the blend of

Executive Mentor, KSU Alumni David

technical, functional and analytical skills

Glenski, with exposing and preparing him

required in management consulting.

to succeed as an Investment Banking

Madison is passionate about gaining a

Analyst at CIBC in their Milwaukee office.

breadth of project experience through differing industries and

He recalls the intense GCM 24-hour Security Analysis

clientele, particularly with the supply chain and finance sectors.

Challenge, as a competitive experience during his senior

Madison credits her Finance Scholar trips for providing

year that honed his ability to thrive in high-pressure,

tools required to excel while working in diverse, global project

mentally demanding environments—a skill set integral to his

environments. Meeting with companies, networking, bonding

career today.

with colleagues, and navigating new cities helped her ease into

Reflecting on his career journey, a highlight of his career

her first full-time role. She remembers honing her presentation

was his pivotal role as the sole junior member in the high-

skills with Avery Bolar in the Stock Pitch competition. Having

stakes advisory team for Merlot Vango’s sale to Safe Fleet.

the opportunity to apply their skills in real-world scenarios was

He credits his success to the invaluable guidance of Kansas

a challenging, but rewarding experience.

State faculty and staff members like Sabuhi Sardarli, Tip Bui,

Madison values the humility and diversity of thought that non-target school students, like those at KSU, bring to high finance. She credits K-State with preparing her for her career

Eric Higgins, Chairat Chuwonganant, Ansley Chua, and the late Scott Hendrix, who challenged him in unique ways.

For aspiring scholars, Rollie’s best advice is to network

and believes that the individuality she brought to her role

extensively with alumni and professionals across various

helped her excel.

cities and industries. Outside of work, Rollie enjoys reigniting

She appreciates her mentors at Deloitte, believing mentoring

his passion for golf and indulging in video games.

is a two-way street. Older scholars that had a positive influence on her include Morgan Krusoe, Reagan Swank (Irvin), and Kyle Fleming. She greatly benefited from mentoring Ally Klaudt

EXECUTI VE MENTORS

as well, finding she gained as much insight from the role of mentor as she did from being a mentee.

In her spare time Madison enjoys throwing pottery, Broadway shows, attending concerts and enjoying a good

Executive Mentors meet monthly with mentees to hone professional skills, identify career opportunities and build a professional network.

cup of coffee at Irving Farm. She loves that Deloitte provides opportunities to explore different initiatives allowing her to pursue her interest in Sustainability, which has allowed her to delve into areas such as corporate social responsibility, electric

If you're ready to serve as a mentor, visit https://wildcatlink.ksu.edu and contact us to be matched with one of our finance scholars.

vehicles, and sustainable procurement.

F IN A NCE CAREER COACH MAT T M CC LA IN ’ 1 5 Matt McClain (’15, Economics) served 7 years in the insurance industry (4 in management) before joining K-State as the Finance Career Coach. Working specifically with Finance Scholars, Matt is committed to equipping high-achieving finance students with the skills they need to excel by enhancing their resumes and soft skills through personalized training, resume building, and interview coaching. “My goal is to ensure K-State Finance Scholars are confident, competitive, and ready to secure rewarding careers in the finance industry.” Matt enjoys spending time with his wife, Kelly, also a KSU grad, and two sons Archer and Dax, watching basketball games and fishing.

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P R OGRAM OVERVI EW

Academic Component

Industry Component

g Dedicated academic advisor g Coursework: • Financial Modeling • Security & Portfolio Analysis • Mergers & Acquisitions • Advanced Portfolio Management • Intermediate Accounting & Analytics II • Derivatives 0r Fixed Income

Career Development

g Weekly Meetings • Alumni workshops & networking • Industry discussions g Industry Courses & Certifications • Wall Street Prep • Bloomberg Market Concepts • Training The Street g Competitions g Group and Individual Networking Trips

g Dedicated Finance Career Coach • Resume Reviews • Mock Interviews • Internship & Career Database • Resume Book g Executive Mentor Program g Semesterly Performance Evaluations

P R OGRAM BENEFI TS g Scholarships: $1,500/year - Interns $2000/year - Analysts $3000/year - Associates $4000/year - Vice Presidents

g Challenging yet supportive environment for high achieving students g Housing support for summer internships in higher cost of living areas

g Group and individual networking trips g Industry subscriptions, books and training programs to enhance learning

Student Program Roadmap

IN T E R N

VP

ANALYST

ASS O C I AT E

6 WSP Modules

Complete all WSP Modules

Competitions

WSP Certification

Mentorship

Bloomberg Market Concepts

Group Trips

Leadership & Service

Academic Plan

Group Trips

Networking Activities

Select a Career Track

LinkedIn Career Assignment

Mentorship

Serve as Peer Mentor

Semesterly Newsletters

Forage Modules

Networking Activities

Assist with Recruitment and Selection

Coordinate Meetings & Events

Target Area Paper

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FACTS & FI GURES

FULL TIME POSITIONS

average starting salary

$92,000

Lazard (IB) Magnetar Capital (AM) Guggenheim Partners (IB) Five Elms Capital (PE) Deloitte Consulting (SC) Riveron Consulting (SC) Momentum Capital Partners (PE) Invista (O)

AVERAGE GPA

3.81

significantly higher than the department and college average

of all Finance Scholars

IB=Investment Banking, AM=Asset Management, SC=Strategy Consulting, PE=Private Equity or Venture Capital, O=Other

2 024

SUMMER INTERNSHIPS

10 out of 11

SENIORS graduated with jobs in target sectors

FRESHMEN

SOPHOMORES

JUNIORS

20%

80%

100%

FA LL 2 02 3

SELECTION CRITERIA: GPA

JP Morgan (AM) Goldman Sachs (IB) Magnetar Capital (AM) VantEdge Partners (PE) Deloitte Consulting (SC) Great Range Capital (PE) Capstone Partners (IB) Vantage Inv. Partners (PE) Blueprint Equity (PE) KSU Foundation (AM) Security Benefit (AM) Koch (O) KPMG Consulting (SC) CBIZ (O)

New Cohort Selection Process

Involvement Entrance exam

65 APPLICANTS

Hard work and determination Social and networking skills

32 INTERVIEWS W E B E G A N FA L L 2 0 2 3 W I T H

26 SCHOLARS 9

+

14

SELECTED

=

40

Total number of students served during the academic year

Special Thanks Paul and Sandra Edgerley In addition to hosting a group of Finance Scholars in Boston this year, Paul and Sandra also funded the opportunity for scholars to receive professional dress and luggage via a partnership with JCPenney, so scholars can put their best foot forward on our trips and at interviews.

Jeff Gates Jeff Gates has played an instrumental role in the success of the Finance Scholars program and the establishment of our Center. His dedication is evident through his involvement in various key initiatives such as hosting alumni dinners in New York City, judging the annual Stock Pitch Competition, guiding students through the 24-Hour Security Challenge, and mentoring students in their journey to high finance roles. Mr. Gates’ vast network and guidance continue to shape the future of our program. We would not be where we are today without his support.

Rob Schneider We extend our heartfelt appreciation to Rob Schneider for his generous support of the Finance Scholars Program. Mr. Schneider’s valuable contributions have played a pivotal role in financing student opportunities and facilitating the development of the program.

This year Rob and Denise Schneider hosted a group of finance students for a dinner at their home to get to know them better. Mr. Schneider also mentors several students in our program.

Justin Boisseau Justin Boisseau’s dedication to the Finance Scholars program is notable. Every spring, Justin generously shares his expertise about careers in investment banking with our young students, during our trip to New York City.

His involvement goes beyond financial support; he actively engages with students at alumni dinners and returns to Manhattan to judge competitions.

Randall Stuewe Thanks to Randall Stuewe, Chairman & CEO, Darling Ingredients, Inc, we were able to receive a personalized tour of the New York Stock Exchange the day of the Reddit IPO. Randall, accompanied by Paul Dorfman, Head of Listings, NYSE, provided insights into the day’s activities, showed us how trades are executed and how trade flow keeps markets operating efficiently.

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VI CE-PRESI DENTS

Blythe Bolar

Shayla Cowin

Jacob Doyle

Major: Finance Certificate: Investment Management

Majors: Finance & Economics Certificate: Data Analytics

Major: Finance Certificate: Integrated Investment Management

Hannah Higgins

Reese Kuzniakowski

Hugo Nascimento

Major: Finance Minor: Investment Management

Major: Finance

Maddie Rimmer

Major: Finance Minor: Management Certificate: Data Analytics

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Major: Finance Minor: Entrepreneurship

Emma Stegman

Major: Finance Certificate: Data Analytics

ASSOCI ATES

Janis Asaris

Will Bannister

Bryson Brown

Abby Colburn

Major: Finance Certificate: Data Analytics

Major: Finance Minors: Leadership Studies, Entrepreneurship, Economics

Major: Finance Certificate: Data Analytics

Major: Finance Certificate: Professional Strategic Selling

Alex Drone

Josh Glunt

Will Hanson

Major: Finance Certificate: Investment Management

Majors: Finance & Accounting Certificate: Professional Strategic Selling

Majors: Finance & Mathematics

Tanner Prock

Brandon Spielman

Claire Thimgan

Major: Finance

Major: Finance Certificate: Investment Management

Major: Finance Minor: Economics

Aurora Ortega

Majors: Finance & Accounting

Michael Tumberger

Majors: Finance & Accounting

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ANALYSTS

13

Sean Allerheiligen

Jayden Brethour

Charlie DeZube

Landon DiLeonardo

Majors: Finance & Accounting Certificate: Investment Management

Major: Finance

Major: Finance Minor: Computer Science Certificate: Marketing Technology

Majors: Finance & Accounting Minors: Economics, Statistics Certificates: Integrated Investment Management, Data Analytics

Bryce Disberger

Landyn Luttrell

Gabriel Mohacsi

Maxwell Roberts

Major: Finance Certificate: Professional Strategic Selling

Major: Finance

Majors: Finance & Accounting Minors: German & Economics

Major: Finance Certificate: Investment Management

Caleb Woleben

Abby Woods

Major: Finance Certificates: Professional Strategic Selling & Investment Management

Major: Finance Minor: Management Certificate: Investment Management

I NTERNS

Sam Baldwin

John Beemer

Samuel Ralston

Max Waren

Carter Watkins

Major: Finance Minors: Spanish & Economics

Major: Finance Minor: Entrepreneurship Certificate: Investment Management

Major: Finance

Major: Finance

Major: Finance & Accounting Certificate: Integrated Investment Management

One Team

The Finance Scholars also participate in team building and social activities. The cohort values communication and relationship building because students know how important connections are to their future careers.

We hit the driving range at Colbert Hills Golf Club.

Our winter reading book, Liar’s Poker, led to a competitive game of the same name during game night. Caleb Woleben was the winner!

Some of our newest members enjoyed trying to escape Locked Manhattan.

We saw first hand how good the Boston Celtics were this year!

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We invite you to

7 7 7 7 7 7 7

0 0 0 0 0 0 0

get involved Introductory meetings to meet and connect with scholars Workshops for targeted skills needed in the industry Six-month mentorship with a student Advisor role in finance competitions Group or individual visits on site Network to create career opportunities for students Help connect us with visits in new cities including Miami, Frankfurt and Zurich

Connect with us

cba.ksu.edu/financescholars • kstatefinancescholars.com • kstatecfa@ksu.edu