David Stowell
Clinical Professor of Finance
Prior to joining Kellogg, Professor Stowell worked at JP Morgan as Managing Director and head of Midwest Investment Banking. He also previously worked at UBS Investment Bank as Managing Director and Co-Head of Equity Capital Markets, at Goldman Sachs as Vice President for Corporate Finance and at O'Connor Partners as Managing Director for Equity Derivatives. He holds a teaching affiliation with the Kellogg School’s Heizer Center for Private Equity and Venture Capital.
- Investment banking
- hedge fund. venture capital and private equity
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Type/Date Title/Author Book2017Investment Banks, Hedge Funds and Private Equity Book2013Investment Banks, Hedge Funds and Private Equity Book2012Investment Banks, Hedge Funds and Private Equity Book2010Investment Banks, Hedge Funds and Private Equity: A New Paradigm -
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MBA, 1978, Finance, Columbia University
BA, 1976, Economics, Utah State University -
Clinical Professor of Finance, Kellogg School of Management, Northwestern University, 2005-present
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Managing Director and Head of Central Region Investment Banking, JP Morgan
Managing Director and Head of U.S. Equity-linked Securities Origination, UBS Invertment Bank
Managing Director and Head of Corporate Transactions, O'Connor Partners
Vice President, Goldman Sachs
Senior Vice President, Lehman Brothers
Assistant Vice President, Bank of America -
Received The Case Centre's Finance, Accounting and Control Case award for the top global Finance Case Study written during 2019.
Private Equity
Participants in this highly interactive program, master the processes and tools required to unleash the potential in individuals, energize their teams, and empower people to achieve consistently higher levels of performance and deliver better bottom-line results.
Investment Banks, Hedge Funds & Private Equity (FINCX-472-0)
This course focuses on private equity (LBO funds) and hedge funds, their influence on corporate decision-making, and measures taken to counter threats and exploit opportunities represented by these investors. Competition and cooperation between investment banks, LBO funds and hedge funds will also be analyzed. Finally, post-financial crisis changes in regulations governing these institutions will be considered. The course uses six Kellogg cases to facilitate discussion regarding hedge fund and LBO fund investment strategies, and corporate initiatives to either keep these investors at bay or utilize them to enhance shareholder value.
Investment Banking Recruiting Prep (FINC-944-N)
This course was formerly known as FINC 944-5
This course prepares first-year students for investment banking summer internship interviews by focusing principally on M&A valuation and execution and capital markets financings, with particular emphasis on cash flow, cost of capital, financial statement impact, capital structure and other related technical considerations for investment bankers. The relationship between investment banking, hedge funds and private equity will also be discussed.
Private Equity Lab (FINC-639-0)
This course offers an experiential learning opportunity in private equity. Following an interviewing process with host firms, if accepted, students will be placed as an intern with a PE firm, where they will work for two days each week for 10 weeks. A separate program within PE Lab provides opportunities for students to intern at PE portfolio companies where the work focus is on operational functions. All students commit to complete at least 150 hours of work during the quarter. Many host firms are in the Chicago area, where students are expected to work on-site two days/week, and other firms are remote, with most work completed remotely, and on-site work is usually limited to a few days during the quarter. Work is not compensated, but out-of-pocket expense reimbursements may be requested. Students meet in class only twice: during the morning of the first and last Wednesdays of the quarter. There are required readings and a project report that summarizes work completed for the PE firm, which is due at the end of the quarter. Course registration is by application only, which must be submitted directly to the application site approximately eight weeks before the quarter starts. Students do not need to bid for this course, but admittance to PE Lab is determined based on interviews with host firms and acceptance by the Professor.
The course is open to 2Y, 1Y, MMM, MBAi, and EW students.
For other recommended courses consult the Private Equity Pathway.
Registration for this course is by application only. Applications can be submitted through the Course Applications section of the Student Bidding Registration site.
Note: This course may not be dropped once the student has been matched with a host firm.Venture Lab (FINC-615-0)
This course offers students an experiential learning opportunity in the venture capital industry with a focus on all aspects of the venture space, including venture capital funds, corporate venture, seed, incubators, and social venture. A separate program within Venture Lab provides opportunities for students to intern at Venture Capital portfolio companies, where the work focus is on operational functions and product management. Following an interviewing process with host firms, if accepted, most students will be placed as an intern with a venture-related firm or portfolio company in the Chicago area, where they will work for two days each week for 10 weeks. Some students will be placed at a remote firm in another state, with limited on-site work. All students commit to complete at least 150 hours of work during the quarter, which is not compensated (but out-of-pocket expense reimbursements may be requested). A project report based on work for the firm is due at the end of the quarter. Students will meet in class only twice: during the first and last Wednesday mornings of the quarter. Course registration is by application only, which must be submitted directly to the application site approximately eight weeks before the quarter starts. Students do not need to bid for this course, but admittance to Venture Lab is determined based on interviews with host firms and acceptance by the Professor.
The course is open to 2Y, 1Y, MMM, MBAi, and EW students.
For other recommended courses consult the Venture Capital Pathway More information can be found on the Heizer Center webpage
Registration for this course is by application only. Applications can be submitted through the Course Applications section of the Student Bidding Registration site.
Note: This course may not be dropped once the student has been matched with a host firm.Field Study (FINC-498-5)
Field Studies include those opportunities outside of the regular curriculum in which a student is working with an outside company or non-profit organization to address a real-world business challenge for course credit under the oversight of a faculty member.
Field Study (FINC-498-0)
Field Studies include those opportunities outside of the regular curriculum in which a student is working with an outside company or non-profit organization to address a real-world business challenge for course credit under the oversight of a faculty member.
Wall Street, Hedge Funds and Private Equity (FINC-472-0)
This course focuses on the activities of private equity (LBO) funds and hedge funds, their influence on corporate decision-making, and corporate measures that are taken to counter threats and exploit opportunities represented by these investors. Competition and cooperation among investment banks, private equity funds and hedge funds is also analyzed. The course also reviews innovative equity, debt and convertible transactions, including hedge fund investing and hedging strategies in relation to these securities. Guest speakers and case studies are a core part of the course.
Professional Linkage Seminar (BUS_INST-394-LK)
Content varies. Possible topics include entrepreneurship, investment banking, business ethics, global marketing, sports marketing, and nonprofit management. Prerequisites vary.
Venture Lab - SF Immersion (FINC-616-0)
Venture Lab - SF Immersion is designed for students interested in pursuing a job in a venture capital firm or a growth-stage startup. We place students in an internship with a venture-related firm or a growth-stage startup in the San Francisco Bay Area. All students will be required to complete 300 hours of work with the firm over the 10 weeks of the quarter. In addition to the work required by the firm for the internship, students will spend time visiting with local companies and firms while building out a network. We will place an emphasis on tapping into the Kellogg alumni community and assisting fellow classmates in navigating the unique business and venture culture of the Bay Area. The instructor will base students' grades on internship performance, networking activity, team participation, and an end of quarter retrospective.
The course is only offered in the San Francisco Immersion Program and is required of all students who are selected into the Program. Placement at a firm or company will involve assistance from the career center, program manager, and faculty advisor.
