In this episode of Financial Perspectives, host Tanya Suba-Tang - Membership Director at CFA Society San Francisco - sits down with Jaycob Arbogast, CFP, MBA - Director of the Center for Excellence in Finance at California State University, Chico. Together, they unpack the realities students face as they move from academia into the workforce, including the challenges of a competitive job market, the importance of pairing technical expertise with interpersonal skills, and the growing role of real-world experiences like internships and competitions. They also explore how finance professionals can support the next generation—through mentorship, guest speaking, and creating pathways for student success.

Whether you’re a student preparing for your first finance role, a professional considering a career change, or a seasoned leader eager to give back, this conversation offers practical insights and inspiration for navigating the journey from classroom to career.

Hear from Tanya Suba-Tang and Bahman Mirzaee as they discuss the current challenges and opportunities facing endowments and foundations within the investment landscape. Mirzaee, in his capacity as a principal at Mercer, delineates the various types of organizations that fall under the purview of endowment and foundation management, including educational institutions, private and corporate foundations, and cultural organizations such as museums. He emphasizes the fiduciary responsibilities these entities hold regarding the management of assets derived from donations, grants, and other financial contributions, elucidating the critical role they play in ensuring the sustainability of their respective missions.

As the conversation unfolds, Mirzaee introduces the three primary ways in which Mercer supports its clients: through Outsourced Chief Investment Officer (OCIO) services, advisory roles, and direct investment assistance. The OCIO model, in particular, stands out as a rapidly expanding service that allows organizations to share fiduciary duties with Mercer, thereby enhancing their investment capacity while benefiting from the expertise and resources that Mercer brings to the table. Mirzaee articulates how this collaborative approach not only alleviates the burden on organizations with limited internal investment capabilities but also fosters a deeper understanding of their unique investment needs, particularly in a landscape characterized by increasing market volatility.

Transitioning to the contemporary challenges that endowments and foundations face, Mirzaee provides a thorough analysis of the macroeconomic factors influencing investment strategies. He discusses the repercussions of shifting interest rates, demographic trends, and legislative changes that affect funding structures for educational institutions and other nonprofits. Notably, Mirzaee highlights the impending demographic cliff, projecting a significant decline in the number of graduating high school seniors, which poses a substantial risk to the enrollment and funding stability of many educational organizations. Furthermore, he addresses the impact of recent tax reforms on charitable giving, noting that changes to the deductibility of donations could influence donor behavior and subsequently alter the financial landscape for nonprofits. Through this comprehensive discourse, Mirzaee underscores the complexities of navigating the investment landscape for endowments and foundations, ultimately providing valuable insights into the strategies that may be employed to mitigate these challenges and capitalize on emerging opportunities.

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In this episode of Financial Perspectives, Tanya Suba-Tang sits down with Ken Ryan, CFA—Portfolio Manager of the Parnassus International Equity Fund. Together, they explore the evolving landscape of global equity investing and how a values-driven approach can uncover opportunity in unexpected places.

Ken shares insights from his experience at Parnassus, WCM Investment Management, and Dodge & Cox, covering everything from managing risk in international markets to integrating sustainability principles without compromising returns. Listeners will gain valuable context on how to navigate today’s geopolitical and economic challenges while maintaining a long-term perspective.

Whether you’re an international equity enthusiast, a values-driven investor, or simply want to learn from a seasoned global strategist, this episode offers clarity and conviction in an increasingly complex investing environment.

If you'd like to learn more about the show, have a topic or speaker to suggest, or would like to leave us a comment, email podcast@cfa-sf.org.


This podcast is produced by CFA Society San Francisco, a not-for-profit professional association, providing professional learning and career resources to over 13,000 investment industry professionals worldwide. To learn more about CFA Society San Francisco, visit our website or connect with us on LinkedIn.

The information contained in this podcast does not constitute financial or investment advice. Please consult your own financial advisor for information concerning your specific situation.