>> Well I went to school at Penn State, obviously,
and I studied health planning and administration.
And I got out of college in 1982 and it was one of the worst recessions ever.
It was really tough.
And I spent -- I didn't really know how to go about getting a job.
I spent kind of 6 months looking and then I applied to grad school.
And I started Drexel in the MBA program at night.
The other thing I did though is I really wanted to be a hospital administrator but I went around
and I talked to all the hospital administrators in Philadelphia
like Jefferson, University of Penn.
And they said go back and get your MBA.
And that's why I went back to Drexel.
And they thought it would be better to diversify but having got into the investment industry --
is in the meantime I also took a management trainee exam for the City of Philadelphia
and they put me in the personnel department.
And the personnel director was one of the 9 member boards --
one of the 9 members on the board of Philadelphia Pension Plan.
And they didn't have a staff member and they wanted a staff member.
And she recommended me after I got my MBA.
And then I was the first staff member ever for the City of Philadelphia's Pension Plan.
And that's how I got into the industry.
And when I started there, the plan had 500 million dollars
and when I left they had 3 billion.
And I was responsible -- I had a lot of responsibilities at a very young age.
And I moved, you know, portfolios of 100 million dollars around.
We hired managers.
We fired managers.
We had to make sure we had enough liquidity in the fund.
We paid out 24 million dollars a month in benefit payments.
We were only 50 percent funded.
We had a lot of investments that weren't performing well.
So I did a lot of work out, working with, you know, legal attorneys and experts
and trying to recover our assets.
And it was really -- I learned the industry from the consultant till I was a consultant.
So I worked with like Frank Russell and Carolyn and it was really a great experience.
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