PSS

managing markit

by Andrew Wickenden ’09

Managing director and co-head of information at Markit, a leading diversified provider of financial information services, Calvin, “Chip” Carver Jr. ’81 has been a member of the HWS Board of Trustees for the past 13 years, where he has served on the Financial Affairs Committee, as well as the Audit and Investment Committees. After earning a B.A. in economics from Hobart College, Carver received an M.B.A. from New York University. Carver regularly works with Hobart and William Smith interns and alums, and returns to campus to mentor students. Here, he shares his thoughts on what sets HWS students apart, what excites him about the financial marketplace and what informs his multifaceted engagement with the Colleges.

On working with HWS students and graduates… “In the business environment, there’s a lot of pressure on kids to decide what they’re interested in and what they want to do out of college,” Carver says. “I know I had no clue what I wanted to do and I had the benefit of exposure to professional life via my dad and my parents’ friends.”

Carver, a regular fixture of the Salisbury Center for Career, Professional and Experiential Education’s Professionals in Residence Series, emphasizes that “because we put pressure on kids to make those decisions, every time you can expose them to the workplace is extremely important.”

And having hosted more than a dozen interns at Markit—many of whom have gone on to become full-time employees— Carver continues to look for students with a liberal arts education.

“Especially at HWS,” he says, “students are able to communicate both orally and through written word. They’re able to research and understand a particular problem. After they’re able to come through that analysis, they’re comfortable reaching conclusions and making decisions.”

On business, people and business people… “Any job you have is going to involve people, which makes it fun but challenging,” Carver says. “You have to understand how people are approaching a particular problem, how you can help them arrive at a conclusion, and how you can help—whether they are employees or investors or your clients.”

Markit employs about 3,700 people worldwide, with 19 offices around the globe including London, Chicago and New York. The company operates three divisions; Information, Processing and Solutions which provide products that enhance transparency, reduce risk and improve operational efficiency across all financial asset classes. Its client base includes several significant institutional participants in the financial marketplace, and has won numerous awards for its product innovation and technology development.

Carver joined the company in 2008 when Markit acquired SwapsWire, the electronic trade confirmation network for over the counter derivative markets, where he was CEO. When he joined Markit, Carver was co-head of the processing division and later served as COO, managing the firm’s global technology development and infrastructure activities. The Information Division, where his energies are now focused, provides indices, pricing data, reference data and analytical tools for a wide range of asset classes and markets.

Earlier in his career, after Goldman Sachs invested in SwapsWire, “they didn’t really have a product and certainly didn’t have any revenue,” Carver says. “To develop the product and take it all the way through, become successful and actually start to make money was pretty exciting. I get to do that at Markit quite a bit. We start a new project or get a new product and it’s essentially a new business.”

On traveling… Carver spends a lot of time in the air, commuting to Markit’s London offices from his home in New Jersey.

“Most people look at the commute and say it must be a big drain,” Carver says, but he’s quick to point out that if you add up the commuting time, the trip to London is less than he was commuting from New Jersey to Manhattan each week.

“I was sleeping rather than driving and doing it all at once,” he says, adding that when he first started that commute in 2002, “I made sure every weekend I was back home or a member of my family was in London with me. I also made sure I stayed on U.K. time, which basically allowed me to function because I wasn’t changing sleep patterns. You get really good at knowing when to get to the airport and which seat you want.”

On having fun at work… “My first job out of college was not very exciting,” Carver admits. “It was near Wall Street but hardly had anything to do with finance. As I sat there, I realized what I was doing wasn’t what I wanted to do and not where I wanted to go.”

After earning his MBA at NYU, which he says, “took me to that next level,” Carver joined Citibank before moving to a managing director role at Goldman Sachs, where he managed fixed income derivatives trading and was responsible for e-commerce for global interest rate products, including government bonds and fixed incomes derivatives.

“When I went from Citibank to Goldman Sachs, I arrived when they had one single position in over the counter derivatives across the whole firm,” Carver recalls. “And when I left there were thousands of positions and it was a significant P&L business after 12 years. Starting a business literally from scratch in terms of everything you need to run— from an operational standpoint, people, systems—to be involved in all those aspects of it, that was exciting. And then to be able to actually operate the business and trade for many years was also a lot of fun.”

On social justice engagement… Named for Carver’s father and created in memory of Carver’s brother, the Calvin R. Carver Sr. Lecture and Student Support Endowment at HWS has helped shape an environment on campus to address the challenges of social justice and mental health.

Carver and his wife, Anne DeLaney, established the lecture series in the spring of 2012 with two primary objectives: (1) to bring to campus each year one speaker who addresses a topic intended to promote inclusiveness, resiliency, positive mental health and social justice; and (2) to assist students who may be experiencing mental or physical health difficulties stemming from developmental, personal or family circumstances.

In 2013, the endowment, in conjunction with the President’s Forum Series, brought gay rights advocate Judy Shepard to campus. After losing her son, Matthew Shepard, to murder motivated by anti-gay hate, Shepard set out on an enduring course to prevent her son’s fate from happening to others.

“My brother was gay and was a couple years younger than me, and the 1980s wasn’t the easiest time to be gay and open about it,” Carver says. “I realized that he struggled saying he was gay to me because of assumptions about what I might think, which is really sad.”

His brother also suffered from addiction, and reflecting on his brother’s death, Carver notes that “people shouldn’t be in those situations, and if they do find themselves in those situations, we should be able to provide assistance. My dad is an extremely kind and understanding person who would gladly help anyone facing those kinds of adversities, which is why we named the series after him.”

“It’s important to have a public forum where these issues are talked about openly,” Carver adds, “which hopefully will make it easier for an individual to seek help.”

 

Preparing Students to Lead Lives of Consequence.