May 20, 2022
BLOOMINGTON, Ill. — A tool used by leading business, investment and finance professionals was unveiled at a groundbreaking ceremony Thursday at Illinois Wesleyan University as the Bloomberg Finance Laboratory.
Located in Room 101 of State Farm Hall, the Bloomberg Lab includes 12 licensed terminals and two ticker machines. The facility was named The Greg Yess ’82 Bloomberg Finance Lab in honor of the alumnus and his wife Kari whose generous donation made the facility possible.
Yess delivered a speech — along with President Georgia Nugent and IWU Portfolio Management Advisory Board member Corey Schieler ’97 — at the ribbon-cutting ceremony at State Farm Hall, followed by a tour of the lab and of a reception.
“The world of finance has grown dramatically over the past two decades,” Yess said. “It’s part of everything we think, see and do. Illinois Wesleyan has an excellent reputation in all aspects of higher education, and I wanted to make sure its students had access to the best financial tools available. I think the Bloomberg Finance Lab will help provide these tools and be a real game-changer for their future careers.
Considered the gold standard in the financial industry, the Bloomberg Terminal is a software system that enables professionals in the financial services industry to monitor and analyze real-time financial market data, news and research, powerful analytics, communication tools and electronic trading capabilities.
“Greg has certainly been a leader in his chosen career in the financial industry and he understands the need to develop exceptional talent, and of course that’s what we do here at Illinois Wesleyan,” Nugent said. “He also recognized what it would mean for our students to have access to Bloomberg terminals. It’s really going to be distinctive for us.
The lab provides teaching, training and research space for students in accounting, business, finance and economics – even nursing majors can use the lab to explore information from the pharmaceutical industry. Each finance student will receive training to earn a Bloomberg Certificate upon graduation, a distinctive achievement for their resume.
The Bloomberg Finance Lab will be especially helpful for students at Illinois Wesleyan’s
portfolio management coursewho manage nearly $4.5 million in real money in consultation with the Alumni Portfolio Management Advisory Board.
“This Bloomberg Lab will really be an essential part of the business curriculum here at Illinois Wesleyan. It will add to the level of research and the depth of knowledge that these students will have,” said Schieler, who serves on the advisory board. The practical skills they can incorporate into their internships and future careers will be truly remarkable.”
Clay Anderson ’23 shared a presentation during the lab tour, highlighting his experience using the Bloomberg Lab during a portfolio management class during the spring 2022 semester.
Before the lab was set up, Anderson said an entire class shared access to a Bloomberg terminal in the Ames Library.
“Having this open area with multiple terminals really allows us to dig as much as we want, with more time to do in-depth analysis which can help improve the portfolio,” Anderson said. “It’s really great to see people giving back to students, believing in us, and reinvesting in us so that we can do our best when we enter the workforce.”
By Julia Perez
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