Karofsky and Gearan

In October, Karofsky joined President Gearan and young alumni at a breakfast event in New York to share his expertise and advice.

Leveling up

President of UBS Investment Bank Rob Karofsky ’89 and Professor Emeritus of Economics Pat McGuire L.H.D. ’12 look back at the lasting impacts of Honors research.

BY ANDREW WICKENDEN ’09

At Hobart and William Smith, the academic intensity of Honors is only part of what makes the experience so distinctive. As Professor Emeritus of Economics Pat McGuire L.H.D. ’12 explains, it’s the opportunity to “work closely with a faculty member.... That kind of relationship can make a real difference in a student’s life.”

Under McGuire’s guidance 35 years ago, Rob Karofsky ’89 delved into the work of 20th century economist John Maynard Keynes and his influence on Franklin Roosevelt’s New Deal. Looking back on his Honors project with McGuire, Karofsky considers it a pivotal moment not only in his development as a student but in his way of seeing the world. “Pat got a lot out of me and helped me to achieve my potential,” he says.

NEW PERSPECTIVES

Rob Karofsky: I was immediately drawn in by Pat’s passion for economics and macroeconomic theory. It really accelerated my own excitement for continuing to learn more and understand how the world works. From an academic perspective it was absolutely one of the highlights. In a world, and especially in my industry, that’s gravitating more and more toward quantitative mathematics and computer sciences, I still believe the best education you can get is the liberal arts.

McGuire

Pat McGuire, who taught in the Economics Department for more than 40 years, was honored with the Distinguished Faculty Award in 2018.

Pat McGuire: It is the seriousness with which students and faculty take the academics that results in these kinds of relationships and friendships. Rob did a tremendous amount of work and really knew his stuff, which allowed us to take the discussion to a different level and find new insights together. There are not many places that work to create that kind of closeness.

CONFIDENCE IS KEY

RK: Pat was a key figure in my life in terms of giving me confidence in my own abilities. To this day, the most impactful class I’ve ever taken was my first class with Pat. He had more confidence in me at that time than I had in myself, and that has helped me achieve the level of success I’ve achieved today.

PM: The harder I pushed Rob, the stronger he grew. We could slow down if necessary, but I would never go back further than I needed to. I wanted to push him and all of my students forward — not just take them up to a certain point, but to go beyond. Then, all of a sudden: “I see!”

A SHARED JOURNEY

RK: Pat critically challenged my thinking and was extremely supportive. He dedicated an enormous amount of time. I felt like we took the journey together. He was equally invested and that had a big impact.

PM: That’s one of the great things about faculty-student work: if you’re spending a lot of time together and talking at a fairly high level, and the student feels comfortable, they often come up with ways of looking at data or a theoretical point that’s just a little different. That’s the sign of a good education and a good experience learning one-on-one, which I can happily say is common at Hobart and William Smith. I know there were many such moments during my work with Rob.

President of UBS Investment Bank, Karofsky has decades of experience as an analyst and trader, working for various financial institutions such as Morgan Stanley, Deutsche Bank and AllianceBernstein. At UBS, he also serves as co-lead of the AI, data and analytics center of expertise. He holds an M.B.A. from the University of Chicago’s Booth School of Business. In 2020 and again in 2023, in recognition of McGuire’s profound impact on his education, Karofsky made a substantial donation to the Patrick A. and Sandra A. McGuire Study Abroad Fund.