Helping Community is Good Business - John Rogers '80
By Jennifer Andresen & Kim Hendler
On April 4th, 30 members of the Project 55 community in Chicago gathered in the offices of Ariel Capital Management for a reception and seminar.
The event was hosted by John Rogers ’80, the founder, Chief Executive Officer, and Chief Investment Officer of Ariel. Rogers ’80 is also a longtime friend of PP55, and the 2008 recipient of Princeton's Woodrow Wilson Award. PP55 Executive Director Kim Hendler, John Fish ’55, members of the Chicago Steering Committee, and current and former PP55 fellows attended the seminar.
The reception gave everyone a chance to make new contacts and reconnect with old friends over hors d'oeuvres and a beautiful view of Chicago. Following introductions and brief remarks by John Fish and Kim Hendler, John Rogers shared the story of Ariel Capital Management's founding and development into one of the largest minority-owned mutual fund companies. He spoke about the importance of community involvement, something he knows first hand from his extensive involvement with local and national organizations.
Reception and Seminar at Ariel Capital Management in Chicago.
Rogers described being an active and productive part of the community as a value that was cemented in him during his time on the Princeton basketball team, and has stayed with him to the present day in his personal and professional life. He appealed to those in attendance to encourage communities of which they are a part to be more inclusive and to use their access and power to make a difference.
Rogers described Ariel's community initiatives, highlighting the Ariel Community Academy, a small public school, supported by Ariel Capital Management, with a curriculum focused on financial literacy. Students at Ariel learn about financial management and investing by managing a $20,000 portfolio, the profits of which are divided when the students reach 8th grade – with $20,000 seeding a new first grade class, and the remainder being distributed among the graduates. Students also make donations from their funds, giving them a hands-on experience with philanthropy.
Rogers also described his work encouraging institutions and corporations to think more seriously about the importance of working with firms and companies that are headed by minorities.
Roundtable discussion with John Rogers '80
As a member of the investment community, he believes it is important to increase the financial industry’s understanding of minority investing by conducting annual research on Black investors. Annual Ariel/Schwab Black Investor Surveys compare the saving and investing habits of middle- and upper-income Black and White Americans. Disappointingly, the survey found in 2007 that, “Blacks are no more likely to be investors today than they were a decade ago.”
John Fish expressed his hope that reunions such as this event would become a yearly or twice-yearly event, facilitating continued discussion to consider how the Project 55 alumni community can work collaboratively and support each other.