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In her classroom, Wall Street Tycoons appear 2015.12.02
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"A Wall Street’s heroine who used to manage 6 trillion … SKKU Prof. Young-ju Nielsen"


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“Studied abroad with only 2 million won… I used to manage bonds in the amount of  6 trillion won”

 

 

On Nov 11, at 10:30 am, in a telelecture room at Dasan Hall of Economics in Sungkyunkwan University(SKKU), Seoul, 100 students’ eyes were bent on a large screen at the front. When a man appeared on the screen, Prof. Young-ju Nielsen, College of Economics SKKU, introduced him as “Mr. Justin Jang is living in New York.” The time difference between New York and Seoul is 14 hours. Mr. Jang, supervising all investments in an investment management firm located in the financial capital of the world ‘Wall Street,’ started by saying  “I just got off work and just now came to the camera” and gave a lecture on the flow of the world financial markets for an hour.

 

 

Prof. Nielsen began a subject called ‘Special Lecture in Economics’ from last September. One week was to give a lecture in person on the theory of Economy and Finance, and the other was to provide with off-field stories of economy by experts in Wall Street, the financial capital of the world. 4 financial experts of Wall Street came to lecture room personally by travelling across the sea, and 2 experts delivered video lectures over the telelecture system. Such distinguished financial experts like  Ben Meng (China), responsible for asset allocation of ‘California Public Employees' Retirement System (CalPERS),’ the largest public pension in America, Francois Jeulin (France), responsible for trading in ‘Merrill Lynch Bank of America, and more personally came to give a lecture.

 

In a her lecture called ‘Special Lecture in Economics' Prof. Young-ju Nielsen(left) is introducing
Wall Street Investement Specialist Justin Jang  who is joining the lecture on the screen (right)

 

 

For Wall Street people ‘Time is gold.’ These people came to Prof. Nielsen’s lecture on their own expense, paying for airfare, stay and others. They also did not take the fee provided by the university (400 thousand won). This was possible due to the lasting relationship with Prof. Nielsen who was also from Wall Street. Prof. Nielsen explains, “Even before the semester began, all 8 people I requested for the lecture wholeheartedly agreed to come.”

 

 

Prof. Nielsen graduated in Economics at Yonsei Univ. in 1995 and went to study in the US. She earned a Ph,D in Statistics, at the University of Pittsburgh and acquired 16 years of career experience at Wall Street. Due to this experience, people who first meet her often assume she was born in a rich family with a silver spoon in her mouth. Prof. Nielsen said, however, “When I went abroad to study, I had only 2 million won my mother gave, and this was all the support they gave me.”

 

 

Prof. Nielsen explains that, when she attended Yonsei University, she dived into computer and mathematics while her friends were preparing for jobs. When getting a MBA was popular, she chose statistics. She said that, for her tuition and relocation and intial expences, she worked at a company in Korea for 6 months before going abroad.

 

 

In the late 1990’s when she was studying in US, the US financial industry based on computers and statistics was starting to grow evermore bigger. Prof. Nielsen also decided to take her career into the finance naturally, but there was an glass ceiling for women and foreigners on Wall Street then. At her first job she managed to get, American colleague laughed at her English pronunciation. Sometimes she was even not invited to client meeting that she had to attend. Prof. Nielsen said “Even though I felt it was unreasonably discriminatory, I eventually  knew there was no other way but to prove myself to fight back.”

 

 

So from then on, she studied theories in economics and statistics for 2 hours everyday before going to work. With her hard work, she was able to work at famous financial firms like Barclays Global Invest, J.P. Morgan, etc, and at one point managed bonds in the amount of 6 trillion won.  The reason why Prof. Nielsen began this lecture of inviting Wall Street people from this semester, was to show her students various possibilities she gained from these experiences. Prof. Nielsen says “Nowadays, while the young people who take on pessimistic views of their situation and talk about ‘clay spoons’ and ‘silver spoons,’ have increased. I wanted to show them that the challenge is more important than the background.”

 

 

Link to media report: http://news.chosun.com/site/data/html_dir/2015/11/25/2015112500350.html

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