OXFORD, Miss. – One of the most respected names in the financial
services industry has offered to increase recruitment efforts aimed at
University of Mississippi business students.
Jay Fishman, chairman and CEO of The Travelers Cos. Inc., recently
visited the UM campus, speaking to more than 120 business students. He
offered to send representatives from Travelers at a later date to meet
with students to discuss career opportunities at the company.
“When it comes to commercial insurance, Travelers is one of the
largest companies and the only insurer included in the prestigious Dow
Jones Industrial Average,” said Larry Cox, UM Robertson Chair of
Insurance. “This presents huge opportunities for our students. In my 15
years at Ole Miss, I don’t recall having someone this renowned and
respected desiring to spend this much time with our students. “
Melanie England, a sophomore from St. Louis, described the
opportunity as both wonderful and unforgettable, saying she was happy
to know that Fishman promised to initiate additional recruitment
efforts at UM.
“I spoke to my dad, who is with a competing insurer, and he
jokingly said not to let the secret out about Ole Miss students being
recruited by Travelers,” England said. “Companies may start fighting
for us.”
Will Moorer, a senior from Pascagoula, was also excited: “All I
can say about the afternoon (with Jay Fishman) is ‘wow.’ It was an
amazing experience, truly one of the highlights of my time here at Ole
Miss.”
In business, focusing on returns over the long term is better than short-term profits, Fishman told the students.
“Too much of the problem on Wall Street is short-term thinking,”
Fishman said. “The key to creating shareholder value is a balanced
long-term financial strategy.”
Communicating company objectives to employees is also key to long-term sustainability, he said.
“Many times, corporate officers are good at communicating with
investment analysts and the press, but they never convey their message,
the goals of the firm, to the employees,” Fishman added. “They are
equally important.”
A bootstrap story from the Bronx, Fishman didn’t come from
wealthy means, but he was tapped as president and CEO of Travelers in
1998, when the company was part of Citigroup Inc. Having joined The St.
Paul Cos. in 2001 as chairman, president and CEO, Fishman was named
president and CEO when the company merged with Travelers Property
Casualty Corp., which had since been divested by Citigroup. In 2005, he
was named chairman.
“Jay Fishman has had a remarkable career,” Cox said. “It’s just
been amazing to see what he has done with Travelers, especially during
the past few years of economic turmoil. He’s one of the most recognized
people in the industry, certainly in the U.S., and probably in the
world when it comes to financial services … and for good reason.”
Fishman first visited UM in March to speak at a risk management
insurance symposium. “Jay is definitely enthused and impressed about
what he has seen here at Ole Miss,” Cox said.
A Fortune 100 company, Travelers generated revenues of
approximately $24 billion in 2008. Travelers stock is traded on the New
York Stock Exchange and is a component of the Dow Jones Industrial
Average.
Having a thoughtful approach to investment is a large reason
Travelers was able to escape the economic collapse that started in
2007, Cox said.
“The company showed a lot of wisdom when other companies were
out trying to get higher yields in what proved to be much riskier
investments,” he said.
For more information on UM’s Risk Management and Insurance program, go to http://www.olemissbusiness.