Financial Services

Mr. Carl Tack ’78
1.5 or 3 Credit Hours | Fall & Spring Semesters

Course Description

The financial services industry is the country’s largest employer of finance graduates, and is a major component of the U.S. and global economy. This course will introduce students to the institutional framework of financial markets and the financial services industry, and help students to understand at a high level the financial, economic and regulatory context in which many financial decisions get made and transactions executed.

Students study the overall structure of the financial services industry as well as the specific characteristics of the major industry segments: commercial banking, investment banking, insurance and asset management. Students examine financial sector business and funding models, the industry’s approach to risk management and capital allocation and the linkages between the financial services industry and the real economy. They consider representative business transactions facilitated by the financial services industry, and discuss the regulatory environment in which financial institutions operate and financial transactions take place. The course has a significant current events component and addresses issues of public policy concern, including industry governance and professional ethics.

One cannot fully understand the current state or structure of the financial services industry without reference to the historic and transformational events of 2007 – 2009 and beyond (the “Financial Crisis”). During this course, students explore various aspects of the Financial Crisis and reflect upon the changing dynamics of the financial services industry that contributed to and resulted from the Financial Crisis. They begin and end the course term with a discussion of the Financial Crisis, and refer frequently to these events throughout the course term.

About Mr. Tack

Professor Carl Tack is a Visiting Lecturer in Finance at the Mason School and currently serves as Co-Director of the Boehly Center and as Faculty Advisor to the Financial Literacy Program. Professor Tack is a graduate of the College of William & Mary (Economics 1978) and the University of Chicago Law School (JD 1981). Following graduation, Mr. Tack worked as a corporate attorney representing private equity and venture capital firms at Kirkland &Ellis (Chicago) and then worked for 25 years as an investment banker for Salomon Brothers, Merrill Lynch and Deutsche Bank, initially in Chicago and then in London.  Mr. Tack also worked briefly in Dubai, as a partner in an international management consulting firm focused on the telecoms industry. Professor Tack currently teaches courses in financial institutions and corporate finance in the W&M undergraduate and MBA programs.  He has previously taught at London Business School (London and Dubai),  Imperial College London and the W&M Law School.  He serves as a board member of the Tredegar Corporation, Richmond, where he has been a member of the audit, governance, compensation, and strategic finance committees.

Carl Tack

Mr. Carl Tack ’78