The tale of a GIG, a cold call and an ‘honorary alumnus’
Michael Wilson, an ‘honorary alumnus’ of the University, describes how he has developed a lifelong relationship with the students and town of St Andrews since a student member of the University of St Andrews Global Investment Group (GIG) cold-called him in 2002.
The story begins in 2002, when I was Executive Vice President of State Street Corporation – a large global financial services firm with operations in London and Edinburgh. I was cold-called at my London office by Mal Scovil – then an undergraduate of the University of St Andrews. Mal explained to me that he and Tom Martignetti had founded the Global Investment Group*, which had grown into a large student society interested in the investment world. He told me how he had persuaded Goldman Sachs, Morgan Stanley and other financial companies to become sponsors, and he explained that he wanted State Street Corp to become one, too.
I don’t know how he got my name or phone number, but I admired his tenacity and the courage it took him to call me. I eventually agreed to sponsor the group, which is when things started to take off.
I began to meet with GIG members every year (sometimes twice a year) to talk to them about the investment world. From the start, these were frank, open and fully participatory sessions that sometimes ran for up to two or three hours. I knew that in the same context many other sponsors would probably take the standard approach by using PowerPoint presentations and overview descriptions aimed essentially at promoting their companies to the students.
I wanted to do something different – something more immersive and authentic. I therefore suggested to Mal that State Street Corporation would sponsor a golf tournament for the students of Global Investment Group – an idea that was met with widespread excitement. This started what we called ‘The State Street Scramble’ tournament, where I would take all the students golfing at one of the courses in St Andrews. I hold many fond memories of these tournaments: they were filled with laughs, friendship-building and many first-time golf experiences.
One memory is particularly vivid. I was walking down the 17th fairway of the Old Course with three GIG members when I suddenly became aware that smoke was pouring out of The Rusacks hotel (where I was staying) and a fire engine siren was wailing in the background. My initial reaction was one of panic, but then cooler heads prevailed. One of the GIG undergraduates reasoned that “there’s really nothing you can do, and the fire engine is on its way, so we may as well carry on with our golf game”. That’s exactly what we did. It only occurred to me later that this could have been the perfect recruitment interview!
On the evenings of these tournaments, I would ask for the students’ questions in advance, and then put together an agenda that would hopefully address the things that were on their minds. We discussed careers, family, recruiting, cv prep and beyond. Over the next few years these discussions morphed from being about State Street to what it’s like to live and work around the world – which is what I did for over 20 years in Asia and Europe. It was useful for bright, curious students who had an interest in living and working globally to hear what it’s like to wrangle with Japanese regulators or work in the Middle East.
I also stressed to the students (and still do) how important it is to take responsibility for the choices you make and for the consequences of those choices – both at university and in life. Once you’re in the working world, you are accountable – there are no excuses.
These tournaments became a unique experience – both for them and for me.
I’ve since written essays about some of the experiences I shared with the Global Investment Group. These are also being used today by a university professor in California in the teaching of his International Relations and Business courses.
Since 2002 I have gathered with GIG students in classrooms, private rooms in hotels and in pubs – and we always have an enjoyable time! This tradition has continued, despite the fact that I am quasi-retired, with my most recent talk being in October 2022 at a hotel near The Scores. Most talks end with a trip to The Dunvegan or another similar pub to continue the discussion into the evening and to share anecdotes, advice and, most importantly, lots of laughs.
What started out as a sponsorship endeavour has morphed into so much more. I’m delighted to pass on my knowledge and ‘warts-and-all’ experiences and find it very rewarding to receive texts, emails and LinkedIn messages from grateful students whom I’ve advised or supported in the past. It’s a two-way street, because by talking to them I learn a lot about the next generation’s world view and what’s important to them. We don’t always agree with each other, but that’s the whole point of it.
As a result of that cold call all those years ago I have developed a lifelong relationship with the town and University of St Andrews, Mal Scovil has become a close friend and the students in GIG have awarded me the title ‘honorary alumnus’. I’m proud to be able to support such bright and talented students.
If you would like to hear more about Mike Wilson’s voluntary work with GIG or his essays about corporate life around the world, please contact him at: [email protected]
Epilogue
The Global Investment Group 2023
“Today, GIG operates as a competitive, student-led investment group that functions independently from the University. The key objective in managing our portfolio is not just to ensure its growth, but also to use the process as an educational tool for our members.
“We’re committed to providing valuable, real-world investment experience for our students and helping them to understand the intricacies of financial markets, portfolio management and investment strategies. In doing so, we’ve managed to foster a close-knit community where everyone is incredibly enthusiastic about continuous learning and mutual growth.”
Alex Type (Class of 2024) President, Global Investment Group
Mike Wilson – guardian angel of GIG
“Risk takers in life and business often have mentors, coaches – guardian angels of a sort – who play a crucial role in transforming that risk into a positive result in the world. Mike Wilson was no doubt the guardian angel of the GIG in the early days – and continues to be today.
“Beyond financial sponsorship from State Street, Mike invested his belief in me and the students of the GIG.
“The ripple effect of that early support continues today as many thousands of graduate jobs in business and finance are possible thanks in large part to Mike getting back to my cold call and believing in some kids in Fife with a vision to ‘bridge the gap between the University of St Andrews and the world of business and finance.”
Mal Scovil, MA 2003