Steven Mandis

Steven George Mandis
Born 1970
Chicago, Illinois
Education AB, MA, M.Phil, PhD
Alma mater University of Chicago
Columbia University
Occupation Investor and Business Executive
Notable work What Happened to Goldman Sachs: An Insider’s Story of Organizational Drift and its Unintended Consequences
Awards Ellis Island Medal of Honor

Steven George Mandis (born in 1970) is an American investor and the founder of Kalamata Capital. He is the author of What Happened to Goldman Sachs: An Insider’s Story of Organizational Drift and its Unintended Consequences. He is also adjunct associate professor in finance and economics at Columbia University Business School, having previously worked at Goldman Sachs and Citigroup and as a senior advisor to McKinsey.

Early life and education

Mandis was born in Chicago, Illinois as one of three children to his parents, Greek emigrees George and Theoni. He spent his childhood in Chicago and Grand Rapids, Michigan where attended Forest Hills Central High School .[1] He received an A.B. from the University of Chicago.[2] After his career on Wall Street he returned to college, enrolled in Columbia University and in 2010 received an M.A. in Museum Anthropology. In 2013 he received an M.Phil in Sociology and then completed his Ph.D. in Sociology as an honorary Paul F. Lazarsfeld Fellow.[3]

Business career

Mandis began his career at Goldman Sachs in 1992[4] as a mergers-and-acquisitions banker.[5][6][7][8][9][10] He then moved to the proprietary trading department,[5] where he helped build the Special Situations Proprietary Trading Group (SSG) within the Fixed Income, Commodities and Currencies Division, which became one of the largest proprietary trading groups on Wall Street.[11][12][13][14] There he worked under Henry Paulson, before Paulson was promoted from Co-Head of the Investment Banking Division to President and Chief Operating Officer of Goldman Sachs.[15]

In 2004 Mandis left Goldman to co-found an alternative asset management company.[16] Mandis later worked as a senior advisor to McKinsey & Company, where during the financial crisis, he worked on strategic, business process, risk and organizational issues facing financial institutions and related regulatory authorities. He then worked as an executive at Citigroup in various roles including Chief of Staff to its President and Chief Operating Officer; Vice Chairman of its Institutional Clients Group (ICG); and a member of ICG's Executive, Management and Risk Management Committees.[2][17][18][19]

In 2013 Mandis founded Kalamata Capital, a small business finance company that he developed after investing in two companies in the field, including RapidAdvance—a company later sold to an entity controlled by Quicken Loans founder Dan Gilbert. Mandis funded Kalamata with his own money, naming it after the area of Greece his parents are from.[20][21]

Academic career

Mandis left Wall Street to become an academic in 2012.[22] He has taught at Columbia University both in New York and abroad in Madrid.[21] At Columbia Business School Mandis teaches MBA and Executive MBA students, focusing on investment banking and financial crisis topics. He is also an instructor in the Masters of Sports Management Program.[23] He has also developed lectures and courses for underprivileged high school students in Harlem, New York on the subject financial responsibility.[24]

In 2013 Mandis published the book What Happened to Goldman Sachs: An Insider’s Story of Organizational Drift and its Unintended Consequences, published by Harvard Business Press, based upon his PhD dissertation at Columbia. It covers the cultural change that occurred at Goldman Sachs between 1979 and 2013. It has been reviewed by the Wall Street Journal [4] The Financial Times.,[25] and the New York Times [5]

Recognition

Mandis was awarded an Ellis Island Medal of Honor in 2012. In 2014 his book won the Gold Axiom Business Book Award for Corporate History.[26]

Personal life

Mandis lives in New York City.[5][27]

References

  1. ↑ "Author of 'What Happened to Goldman Sachs' recalls his days at Forest Hills Central High School". MLive.com. Retrieved 2016-04-13.
  2. 1 2 "Columbia Business School Directory".
  3. ↑ "Alumni Profile: Steven Mandis". gsas.columbia.edu. Retrieved 2016-04-13.
  4. 1 2 Mary Kissel (10 October 2013). "Review: What Happened to Goldman Sachs - WSJ". WSJ.
  5. 1 2 3 4 Lattman, Peter. "An Ex-Trader, Now a Sociologist, Looks at the Changes in Goldman".
  6. ↑ "AT&T Broadband To Merge with Comcast.". AT&T Comcast Corp.
  7. ↑ Teitelbaum, Richard. "Buffet Says Sell To Me, Not 'Porn Shop' as Growth Dips.". Bloomberg.
  8. ↑ "-"With Takeover Attempt Behind It, Visx Looks to Its Future."". Ocular Surgery News.
  9. ↑ "VISX Responds to Icahn Letter; Urges Stockholders Reject the Icahn Slate and Protect the Value.".
  10. ↑ Kraeuter, Chris. "Icahn Focuses on Visx.".
  11. ↑ Atlas, Riva D. "'Goldman Sachs' on a Resume Gives Continuing Rewards". New York Times.
  12. ↑ Rappaport, Liz. "Goldman to Shut Global Macro Trading Desk". Wall Street Journal.
  13. ↑ "Goldman Prop Portfolio Manager Mandis Leaves; Named Managing Principal, Vice-Chairman and Chief Investment Officer for Special Credit and Select Opportunity Products.".
  14. ↑ "Alternative Asset Management Acquisition Corp, EX-99.2.". SEC. 2008.
  15. ↑ Spiro, Leah Nathans, Gary Silverman. "The Coup at Goldman.". Bloomberg Businessweek.
  16. ↑ http://www.nytimes.com/2005/02/03/business/goldman-sachs-on-a-resume-gives-continuing-rewards.html?_r=0
  17. ↑ Randall Smith. "Citi Taps Goldman Vet As Institional Clients Vice Chair.". Wall Street Journal.
  18. ↑ "Senior Management. Citi Institutional Clients Group". Citigroup.
  19. ↑ http://blogs.wsj.com/deals/2010/07/21/citi-taps-goldman-vet-as-institutional-clients-vice-chair/<
  20. ↑ Zeke Faux; Max Abelson (11 July 2014). "Trying to be a Nice Guy in Small-Business Lending". Bloomberg.com.
  21. 1 2 Zeke Faux & Max Abelson (10 July 2014). "How a Goldman Sachs Ethicist Became a High-Rate Lender". Bloomberg.com.
  22. ↑ Justin Baer (27 September 2013). "In Book on Goldman, Former Trader Hedges His Bets". WSJ.
  23. ↑ Columbia Business School. "Steven George Mandis". Columbia Business School Directory.
  24. ↑ "Transcripts.". CNN.
  25. ↑ "'What Happened to Goldman Sachs' by Steven Mandis". Financial Times.
  26. ↑ http://www.axiomawards.com/Axiom_Results_Listing_2014.pdf
  27. ↑ "EX-HALCYON HEDGIE PROVES EVERY ALUM OF GOLDMAN SACHS DOESN'T TURN TO GOLD". New York Post. 31 August 2008.

External links

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