This In The Know post was written by Andrew Chung CC ’27, CCE Peer Ambassador.
The capital markets sector offers a dynamic and evolving career path, where professionals help businesses raise capital, navigate financial challenges, and invest in emerging opportunities. On January 30 Columbia alumni Mathew Cestar (CC ’93), Ray Chan (CC ’95), and Stephane Gruffat (CC ’96) gathered at the Center for Career Education’s Capital Markets Industry Showcase to share their experiences and insights with students interested in the field. The panel was moderated by Palmer Pyles CC ‘27.
Cestar (President, Arini Capital Management), Chan (Senior Managing Director, Blue Owl Capital), and Gruffat (Co-Head of Equity Capital Markets, Deutsche Bank) are all distinguished leaders in this sector, who attended the showcase eager to help Columbia students!
All three panelists shared their enthusiasm for the evolving nature of capital markets. Cestar highlighted that capital-raising activities have shifted away from banks to institutional investors, allowing greater opportunities, while Chan also noted that economic crises accelerate innovation, moving businesses into more flexible and efficient market structures. Gruffat then emphasized human decision-making, showing that while technology plays a role, capital markets still need personal expertise and strategic thinking. Technology has improved entry-level roles, giving junior professionals greater access to high-level meetings through videoconferencing. Unlike in the past, young analysts now engage more directly with senior leadership and clients. This shift allows for earlier hands-on learning and networking.
All three alumni agreed that these are the skills that employers in capital markets look out for:
- Adaptability & Enthusiasm: Approach your careers with an open mind and a willingness to work hard.
- Relationship-Building: Capital markets are a “people business,” and talking to people is the best way to break into a role.
- Genuine Connections: Authentic relationships formed at Columbia and beyond were essential to Ray Chan finding his role. He advised students to be helpful, ask questions, and always be prepared with their own perspective.
When asked for their best career advice, the panelists collectively stressed the importance of being proactive and open to opportunities. Whether joining a large institution or a small team, the key is to gain experience, build a strong professional reputation, and stay curious about market trends.
After the panel, students networked with the panelists and with representatives from other companies including AllianceBernstein, ATLAS SP, Keybank, and Lazard.
The Capital Markets Industry Showcase provided an invaluable opportunity for students to learn from seasoned professionals and understand the broad scope of careers in finance. The event underscored the importance of networking, adaptability, and continuous learning in this fast-moving industry. As Columbia students look toward their own career paths, the insights from these panelists serve as a guiding light for success in capital markets.