George Mack ’92, managing director at Barclays Global Restructuring and Finance Group, hosted the Program in New York City students and shared his experiences in finance, his views on the market, and provided insight as to how he got where he is today.
After graduating from Hamilton in 1992, he went abroad to Vietnam to study the economics of development. Though he originally hoped to work for an aid organization there, he realized that it wasn’t for him and had to figure out what path to choose next. After working for a number of years in start-up businesses, he decided to return to the states to receive his MBA from Columbia Business School. This led to him to a job at Lehman Brothers in the Mergers and Acquisitions group.
Mack later moved from M&A to work in the Restructuring Group, which deals with advising distressed companies. He described some of the layers involved in restructuring. The job doesn’t just entail the distressed companies themselves, but also the acquirers, debtors in possession, and creditors of distressed companies. Mack explained that when a lot of people are looking for a cut of a distressed company, he works to determine the allocation of value.
To conclude the visit, Mack and the students discussed an article on the growth of income disparity in the United States that he had sent them before the visit. Mack shared thoughts on wealth increasing faster than economic growth, and talked about the ethics involved in finance.