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JP Morgan Challenge team
Associate Dean Robert Korajczyk, left, with members of one of the Investment Banking Club's winning teams

Investment Banking Club wins top prize in JP Morgan challenge

by Deborah Leigh Wood

For the fifth time in six years, members of the Kellogg School Investment Banking Club beat their competition, the University of Chicago Graduate School of Business, in the sixth-annual JP Morgan M&A Challenge.

The Kellogg students won the overall award in the 32-hour case competition, held in January at JP Morgan's offices in downtown Chicago. Contestants worked on a case created by the company based on an actual deal. Eight Kellogg teams, composed of full-time and part-time students, acted as investment banker advisers to their "client" on bidding strategies and valuation in possibly acquiring a paper and building products company.

"Kellogg is very proud of the consistently outstanding performance of its students in the Challenge," said Robert A. Korajczyk, Kellogg School senior associate dean of curriculum and teaching. "The results are a testament to their hard work and the excellence of the Finance Department's curriculum."

David Stowell, one of the judges and a clinical associate professor in investment banking at the Kellogg School, called the winning teams well prepared. "It's amazing what they were able to deliver in a short timeframe," he said. "They delivered a 20-page solution, plus appendices of computations. They didn't get much sleep, but that's the real world."

The short deadline increased the level of excitement, said Steve Weiland '05, who was on a winning team and is co-chair of the Investment Banking Club. "Everyone can do the math, but coming up with a fresh idea and communicating it well in a 15-minute presentation to seasoned experts is where the challenge lay and where we excelled."

In addition to Weiland, members of the winning teams, which split the $2,600 prize, are Kojo Appenteng, Bolade Atitebi, Danai Brooks, Joshua Carson, Panaikorn Chartikavanij, Peggy Gan, Michael Jakola, Adil Lalani, Parth Mehrotra, Chirag Saraiya, Jason Scott, Benjamin Seguin, Brian Steinbrueck, Katsuhiko Ushikubo, Guarav Wadhwa and Neal White. All are Class of '06 except Carson and Weiland, who are Class of '05.

©2002 Kellogg School of Management, Northwestern University