Law, MBA Students Work with NYC Financial Firms

BUFFALO, N.Y. -- A unique educational collaboration is providing University at Buffalo law and MBA students with a new gateway to New York City's international financial markets and highly competitive financial-sector job market.

Twenty UB law, MBA and joint JD/MBA students are studying international finance and global investment banking this semester in New York City at the Levin Graduate Institute of International Relations and Commerce, an innovative new graduate institution operated within the State University of New York system.

The UB/Levin program is the first SUNY graduate program offered by the Levin Institute, which was established in 2002 by Gov. George Pataki in memory of Neil D. Levin, director of the Port Authority of New York and New Jersey, who died during the terrorist attack on the World Trade Center on Sept. 11, 2001.

The 12-credit, semester-long program is introducing students to the challenges of managing financial transactions and capital flows across borders, business cultures and multiple regulatory systems. Courses are taught by well-known UB law and management faculty, as well as other faculty from leading law and business schools.

High-level alumni from the two UB schools frequently serve as guest speakers and the students are assigned hands-on projects working with executives from M&T Bank, Credit Suisse, UBS, the international law firm of Fried, Frank, Harris, Shriver & Jacobson LLP and CLSA, a Hong Kong-based investment bank.

"This new collaboration with the Levin Institute gives us the opportunity to expose our students to New York City's unique financial institutions and allows them to learn from top professionals in international finance," says Nils Olsen, dean of the UB Law School. "It is our first extended effort to teach courses in the New York City area and offers not only significant academic advantages for our students but also enhanced career placement for them as well."

The goal of the program, according to John Thomas, dean of the UB School of Management, is to help the students develop knowledge, skills and contacts needed to break into the very competitive world of investment banking and international finance.

"The program is providing our students with invaluable access to the top companies in the financial sector," he says. "If students are interested in careers in international finance, it's critical they be in New York City where the major players are."

Acceptance into the program is competitive. Experiential learning and cross-discipline team collaboration are key components of the program, according to UB Law School professor Philip Halpern, UB's on-site administrator in New York City.

"Integration is a very important part of the program because it dovetails with the real world, where lawyers and business executives often work together to solve a problem or negotiate a transaction," Halpern says. "There are separate legal and business issues, but they are linked. The students' degrees may be different, but they work together very well."

Third-year law student Jesse George of Utica, N.Y., for example, wants to pursue a career in international law in New York City or overseas after graduation in May.

The UB/Levin program, George says, is helping him "meet people and make connections" he would not have made in Buffalo. "If you're going to a professional school to study finance, ideally you'd like to get some experience in the financial center of the world," he explains. "This program was a natural choice for me."

George's team of law, MBA and JD/MBA students is doing a project this semester with global financial services provider Credit Suisse, examining international business opportunities and challenges facing a major client of the firm.

Meanwhile, second-year MBA student Erik Zeppuhar of Pittsburgh and his teammates are working under the guidance of an executive from UBS, a global financial services firm. They're examining legal and business issues raised by potential SEC regulations requiring unbundling client commissions received for research and execution of trades. The objective of the project is to identify current regulatory requirements, recommend possible changes to those regulations and suggest strategies for doing business in the new regulatory environment.

"The experience definitely is better preparing me for a career in finance," Zeppuhar says. "Learning about market regulations and various international topics from people actually in the industry is something I was not exposed to before I came here.

"Even if I don't end up working in the investment banking industry, the knowledge gained on these topics is applicable to other areas of business."

The UB/Levin program fits well with the mission of the Levin Institute, according to institute president Garrick Utley, who says the institute also is exploring similar internationally focused graduate programs in collaboration with other SUNY institutions.

"The Levin Institute can serve as SUNY's platform into the workings of business and international affairs in one of the world's famous global cities," Utley says. "Our approach is a response to some of the challenges facing traditional law and management schools today as they seek to internationalize while at the same time making their curriculum more relevant to potential employers."

UB deans Olsen and Thomas hope to develop future educational collaborations between the UB Law School, School of Management and the Levin Institute. Thomas is working with the Levin Institute to develop a new program in global supply-chain management, for example.

The University at Buffalo is a premier research-intensive public university, the largest and most comprehensive campus in the State University of New York.