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Edward F. Murphy, former executive vice president at the Federal Reserve Bank of New York, named first Mentor in Residence at Pace University’s Lubin School of Business

04/02/2014

Edward F. Murphy, former executive vice president at the Federal Reserve Bank of New York, named first Mentor in Residence at Pace University’s Lubin School of Business

NEW YORK, NY – April 2, 2014 -- Edward F. Murphy, the former chief financial officer and executive vice president of the Corporate Group of the Federal Reserve Bank of New York, has been appointed the first Mentor in Residence at Pace University’s Lubin School of Business.

“We are extremely grateful to Ed Murphy for serving as our first Mentor in Residence,” said Neil S. Braun, Dean of the Lubin School. “His long and distinguished career in banking and finance and broad experience as a senior executive will provide students with a robust platform to help them achieve their career goals and success.”

Professional experience and career guidance and success are integral aspects of business education at Lubin. Through its vast alumni network, Lubin leverages its New York locations and access to Fortune 500 headquarters and leaders in every industry to create unique career-building opportunities for students. 

The new Mentor in Residence program will bring Lubin alumni who are senior executives in their fields to engage with students on campus. The first students who will be mentored by Murphy will be from Beta Alpha Psi (BAP), the International Honor Organization for Financial Information Students and Professionals. Lubin’s Iota Lambda chapter of this organization has consistently distinguished itself maintaining gold chapter status and winning Best Practices awards in their annual competitions. Murphy will engage with BAP students, graduate students and business honors students on an individual basis as well as in small groups.

Murphy is a retired financial and audit executive with 40 years of global financial services, auditing, and regulatory experience at the Federal Reserve Bank of New York, JPMorgan Chase, and Coopers & Lybrand. Murphy began his career with C&L auditing large international manufacturing firms and high profile not-for profit organizations. After nine years with C&L, he joined JP Morgan where for more than 20 years he held successively expanded leadership roles in the areas of finance and accounting, auditing, internal controls, compliance, operational processes, and risk management. He held several global leadership positions at JP Morgan including Principal Accounting Officer, Global Internal Audit Director, and Chief Operating Officer for the businesses conducted in the Asia Pacific Region, for which he relocated to Tokyo. Following the merger of JP Morgan and Chase, Murphy served as the Chief Financial Officer/Chief Administrative Officer of Chase’s retail division.

Following his retirement from JPMorgan Chase as an executive vice president in 2004, Murphy joined the Federal Reserve Bank of New York as the Bank’s CFO and as the executive vice president of the Corporate Group. During Murphy’s tenure he introduced new management information technology systems, established the Operational Risk and the Diversity Advisory committees, and established a business process excellence (six-sigma) capability. He retired from the Federal Reserve in June 2013, after eight years.

Murphy is a certified public accountant and received a bachelor of business administration degree in 1974 from Pace University, where he has served as a Trustee since 1997.

About the Lubin School of Business at Pace University: Globally recognized and prestigiously accredited, the Lubin School of Business integrates New York City’s business world into the experienced-based education of its students at Pace’s suburban and downtown campuses, implemented by the region’s largest co-op program, team-based learning, and customized career guidance. Its programs are designed to launch success-oriented graduates toward upwardly mobile careers.  www.pace.edu/lubin

Media contact:  Bill Caldwell, Pace, 212-346-1597, wcaldwell@pace.edu

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University Business: "Keeping cyber attacks at bay"

04/01/2014

University Business: "Keeping cyber attacks at bay"

Hackers are often portrayed in the media as pale skinned, basement dwelling lone wolves, creating nuisance viruses that disrupt networks. But Darren Hayes, a professor at Pace University’s Seidenberg School of Computer Science and Information Systems, says times are changing. “These people are rapidly being replaced by sophisticated government-backed infiltrators and criminal cyber-spy rings that can inflict far more damage than a Distributed Denial of Service that takes a network offline.”

He’ll discuss this new breed of hacker in his UBTech session “Cyber attacks on the rise and how to stop them.

Read more: http://www.universitybusiness.com/article/keeping-cyber-attacks-bay

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Detroit News: "GM shareholder files securities fraud suit over ignition recall"

03/27/2014

Detroit News: "GM shareholder files securities fraud suit over ignition recall"

. . . Pace University professor John Alan James said shareholders will also get hit at GM if the company pays massive fines.

“In the end, fines are paid by shareholders,” James said.

He said huge fines on most firms result in a short range drop in the share price. “Recovery depends on whether the buyers think the stock is worthy of holding.”

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NBC News: "Why Facebook Is Betting on Virtual Reality as the Next Big Thing"

03/27/2014

NBC News: "Why Facebook Is Betting on Virtual Reality as the Next Big Thing"

. . . Larry Chiagouris, a marketing professor at Pace University, said Oculus "really fits into Facebook's mission" of connecting the world on a social level.

"When Facebook first began, it was the sharing of text — then it became photos, then videos, and now what's left?" Chiagouris told NBC News. "Virtual reality will be the next battleground for the sharing of experiences."

Read more: http://www.nbcnews.com/tech/innovation/why-facebook-betting-virtual-reality-next-big-thing-n62616

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China Daily USA: "Pace Univ 'bridges' US-China gap"

03/26/2014

China Daily USA: "Pace Univ 'bridges' US-China gap"

As scholars and academics continue efforts to encourage the study of China, Pace University, in Lower Manhattan, is trying an alternative tack to promote its students' interests in the world's second-largest economy - by subsidizing a chance to study abroad.

The Annual Chinese Bridge Eastern USA Proficiency Competition for Foreign College Students offers participants from a number of schools the opportunity to study in China, provided their knowledge of the Chinese language and culture stands out.

Weihua Niu, a director of the Confucius Institute (CI) at Pace, said this event has become one of the program's highlights since it began in 2010.

"Each year there are more than 20 students from at least 10 universities who submit their materials," Niu said Monday. "This event really allows students to showcase how they can use their language skills to contribute to future experiences - so it's not a competition, it's a celebration."

Read more: http://usa.chinadaily.com.cn/2014-03/25/content_17378539.htm

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USA Today: "Oculus acquisition: Why Facebook and not Google?"

03/26/2014

USA Today: "Oculus acquisition: Why Facebook and not Google?"

. . . virtual reality augmenting the way we connect is likely more a matter of when than if, says Larry Chiagouris, professor of marketing at Pace University.

"This is a brilliant move on Zuckerberg's part, and a big contrast to Google's Glass," he says. "Facebook is all about sharing, and this technology clearly will allow sharing beyond anything we've seen this far."

Chiagouris allows that mass adoption will hinge on a Rift successor being far smaller than the present device, which is the size of ski goggles. But he adds that if there is one inviolable tech trend, it's the miniaturization of everything.

"This purchase is just a small step in the direction we're all heading, which is an immersive experience for all of the senses," he says. "If someone tomorrow invents something that allows you to explore someone's thoughts, I'm sure Facebook will buy that, too."

Read more:

http://www.usatoday.com/story/tech/2014/03/26/oculus-facebook-vs-google/6915611/

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Robert J. Chersi, former CFO and Member of the Executive Committee of Fidelity Investments, named Executive Director of the Center for Global Governance, Reporting and Regulation at Pace University

03/26/2014

Robert J. Chersi, former CFO and Member of the Executive Committee of Fidelity Investments, named Executive Director of the Center for Global Governance, Reporting and Regulation at Pace University

FOR IMMEDIATE RELEASE

Robert J. Chersi, former CFO and Member of the Executive Committee of Fidelity Investments, named Executive Director of the Center for Global Governance, Reporting and Regulation at Pace University

Chersi to succeed John Alan James, who will become Chairman Emeritus of the Center

New York, NY – March 26, 2014  – The Lubin School of Business at Pace University today announced that Robert J. (“Bob”) Chersi has been appointed executive director of its Center for Global Governance, Reporting and Regulation. He will succeed John Alan (“Jack”) James, who will become Chairman Emeritus of the Center.

“Bob possesses a deep understanding of financial institutions given his extensive leadership experience in that industry,” said Neil S. Braun, Dean of the Lubin School of Business and former President of the NBC Television Network and CEO of Viacom Entertainment. “He is well-positioned to lead the Center in the next phase of its development.”

Chersi is an accomplished corporate financial and risk executive who joined Lubin as the Center’s Advisor in July 2013 and also serves as an adjunct professor of finance and economics.  His business career included experiences as CFO and Member of the Executive Committee of Fidelity Investments, Member of the Group Managing Board of UBS AG, and CFO for U.S. Wealth Management. In these roles, he functionally led finance, risk and compliance organizations, and served on many industry committees and associations. He started his career servicing financial institutions industry clients as a CPA with KPMG, after graduating from Lubin. 

Jack James, an internationally recognized corporate governance leader, joined Lubin as an adjunct professor in 2003 and was appointed the inaugural Executive Director of the Center in 2012.  During his tenure he created a new course, Comparative Corporate Governance Systems, and modified a second course to reflect the growing need for academic input on regulatory strategies. The two courses form the basis for the initial sessions of the Certified Compliance and Regulatory Professional (CCRP®) program and qualify certificate winners with credit for applying toward a graduate degree at Lubin.  James is a former management consultant with Hewitt Associates and McKinsey & Co., and he also created his own firm, Management Counsellors International, S.A.  He earned his bachelor’s degree from Northwestern University and an MBA from the University of Chicago’s Booth School of Business.

"We want to thank Jack for his leadership and commitment and look forward to his continuing contributions,” said Braun. “He led the development of our successful CCRP® program and created a strong foundation for the Center’s further growth in today’s complex and evolving regulatory environment.” 

About the Lubin School of Business at Pace University: Globally recognized and prestigiously accredited, the Lubin School of Business integrates New York City’s business world into the experienced-based education of its students at Pace’s suburban and downtown campuses, implemented by the region’s largest co-op program, team-based learning, and customized career guidance. Its programs are designed to launch success-oriented graduates toward upwardly mobile careers.  www.pace.edu/lubin

About the CCRP® Program and the Association of International Bank Auditors:  The CCRP® (Certified Compliance and Regulatory Professional) Program is a six-month premier certificate program for compliance professionals in the financial institutions industry. The program is jointly sponsored by the Lubin School of Business at Pace University and the Association of International Bank Auditors (AIBA) and recently commenced its fifth cycle of certification of industry professionals. The AIBA membership consists of internal audit, compliance and internal control professionals of nearly 100 U.S. branches and agencies of foreign banks.  The mission of the AIBA is to foster the professional standing of its members by increasing their knowledge and capacities to carry out their responsibilities with respect to international banking.

Media contact:  Bill Caldwell, Pace, 212-346-1597, wcaldwell@pace.edu

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The Atlantic: "How Actors Create Emotions: A Problematic Psychology"

03/24/2014

The Atlantic: "How Actors Create Emotions: A Problematic Psychology"

. . . In truth, cognitive scientists and psychologists have been reluctant to embrace acting as a serious subject of study. But researchers like Thalia Goldstein, an assistant professor of psychology at Pace University, have recently started to investigate the links between the two fields with the idea that both disciplines can be enriched by a study of their commonalities. In a joint paper from Goldstein and Yale professor Paul Bloom, “The mind on stage: why cognitive scientists should study acting,” Goldstein argues that psychologists can look to how actors create emotions in order to understand human nature in a new way.

“I think that at their cores, psychology, cognitive science, and theater are all trying to do the same thing, which is understand why people do the things they do, our range of behavior, and where it comes from,” Goldstein says. “It’s just two different ways of looking at the same question.”

Read more: http://www.theatlantic.com/health/archive/2014/03/how-actors-create-emotions-a-problematic-psychology/284291/

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Crain's New York Business: "Wicked returns for his investors -- Broadway producer David Stone and the art of 1,000% paybacks."

03/24/2014

Crain's New York Business: "Wicked returns for his investors -- Broadway producer David Stone and the art of 1,000% paybacks."

. . . The show, based on Gregory Maguire's novel Wicked: The Life and Times of the Wicked Witch of the West, acts as a prologue and epilogue to The Wizard of Oz. It details the evolution of Elphaba, the once-bullied green girl who finds strength, conviction and love even though people perceive her as wicked.

"It's the Ugly Duckling story set on its head, and we can all relate to that," said Jorge Cacheiro, chair of the performing-arts program at Pace University.

Read more: http://www.crainsnewyork.com/article/20140323/ARTS/140329955/wicked-retu...

 

 

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Investor's Business Daily: "Can Snapchat Security Issues, Like Photos, Disappear?"

03/24/2014

Investor's Business Daily: "Can Snapchat Security Issues, Like Photos, Disappear?"

. . . "Before the scandals, I thought the valuation was way too high," says marketing professor Larry Chiagouris of Pace University in New York. "Now there's no doubt in my mind it was too high.

"There are other issues besides privacy, not the least of which is the business model. How do they end up providing some value-added service to advertisers?"

Read more: http://news.investors.com/technology/032114-694192-snapchat-faces-security-issues-after-turning-down-facebook.htm

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