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AAAYA New York Chapter: Life After Yale – Careers: A Candid View, Monday, April 23, 2012

The Investment Banking Profession Event, Monday, April 23, 2012

This event is the second in a series covering different professions and will feature three investment banking panelists representing the disciplines of corporate finance, financial and M&A advisory, liability management, and wealth management. The legal profession was featured on March 29 and the rest of the series will cover a number of professions, including medical, consulting, education, and entrepreneurship.

This series is jointly supported by Yale University, the Yale Alumni Association of New York (YAANY) and the Association of Asian American Yale Alumni (AAAYA).

The panel discussion will be held in New York City, but will be simultaneously broadcast via video conference to Room 119, William Harkness Hall at Yale University at 100 Wall Street, and over the internet as a webinar.

Time: Monday, April 23, 2012 from 4:30 pm to 6 pm EST


Kelly Cheng, Vice President, Liability Management, Barclays Capital

Thomas Shortall, Managing Director, Wealth Management, Jefferies & Company, Inc.

Peter Young, President and Managing Director, Young & Partners LLC

Moderator and Organizer:

Peter Young, President and Managing Director, Young & Partners LLC

Locations and Webinar:

New York Location: Conference Room 22B at Kaye Scholer LLP, 425 Park Avenue,

Yale Videoconference Location: Room 119, William Harkness Hall, 100 Wall Street

Webinar: Internet presentation website and conference call


• Where is the profession heading (good and bad)?

• How do you get into the profession and what is the typical career path?

• What are the myths versus the realities?

• What are the characteristics of people who tend to do well and are happy in the profession?

• What types of people tend not to do well or end up unhappy and why?

• If you don’t stay in the profession until retirement, what are the exit routes to other professions?


Kelly Cheng

Kelly Cheng is a Vice President in Barclays’ Liability Management Group where she has advised corporate and sovereign clients on balance sheet management strategy and execution. Previously, she was with CM Equity Partners, L.P. as a member of a team that originated, executed and monitored private equity investments for the firm’s leveraged buyout fund. Kelly began her career in J.P. Morgan’s investment banking division. Kelly holds a BA in Economics and East Asian Studies with distinction from Yale University and an MBA from Harvard Business School. She is active on the committees of several non-profit organizations, including serving on the board of the Yale Alumni Fund.

Thomas L. Shortall

Thomas Shortall is a Managing Director in Wealth Management at Jefferies & Company, Inc. Spanning 5 decades, Tom has had broad product experience in both the Equity and Fixed Income Markets. Early in his career he was an Equity Portfolio Manager with Bankers Trust. He then focused on Institutional Fixed Income Sales in the U.S. with DLJ, Smith Barney and Citigroup, working with some of the largest domestic Pension and Insurance companies.

For the past 12 years, Tom has concentrated on Wealth Management relationships in the U.S., Asia, Europe and the Middle East. For 10 years he was with Citibank’s Private Bank and Citigroup Global Markets Inc. (CGMI). In 2010 Tom brought his team to Jefferies & Company to join and grow its Wealth Management presence.

Throughout his career, he has worked with U.S. Treasury and Federal Agency issuance, Mortgage-related products as well as High Grade & High Yield bonds. Within the Wealth Management field, he has also been involved the marketing of Hedge Funds, Structured Notes and other alternative investments.

He brings a broad and highly complementary set of skills to his team with his equity and strong fixed income background, working in the taxable and tax exempt areas. Tom handles both dollar and non-dollar portfolio solutions and managed money as well as transaction-based accounts.

Mr. Shortall is a 1972 graduate of Yale, Davenport College.

Peter Young (Panelist and Moderator)

Mr. Young is President and a Managing Director of Young & Partners, a leading investment banking firm focused on the life science and chemical industries. He manages the firm and is actively involved in client transactions and financings. Under his leadership, Young & Partners has established and maintained its position as a leader in the industry. Young & Partners was founded in 1996 and is lead by a group of Managing Directors, all of whom were previously heads of their industry groups at major firms such as Morgan Stanley, Lehman Brothers, Dresner Bank, Schroders, and Salomon Brothers.

Prior to 1996, Mr. Young was head of various related industry groups at Salomon Brothers, Schroders, and Lehman Brothers for ten years. Mr. Young has been an investment banker serving the chemical and pharma industries for twenty six years assisting a wide variety of chemical and life science companies on a global basis with regard to mergers, acquisitions, restructurings and capital raising.

Early in his career while with Bain & Co., Mr. Young provided strategic advice to major chemical and life science companies. He was also a senior member of J.H. Whitney & Co. the venture capital firm.

Mr. Young received an M.B.A. from the Harvard Business School (Baker Scholar with Highest Distinction), an M.S. in Accounting from the New York University and a B.A. in Economics from Yale University. He is a Certified Public Accountant and member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. Mr. Young is a board member of Société de Chimie Industrielle, a chemical and pharmaceutical industry association and is a member of the Editorial Advisory Board of Pharmaceutical Executive Magazine.

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