Art Samberg has a long history in finance, having held various roles from security analyst to president and business owner. During his time in the world of finance and investing, Art Samberg gave back to the community through various charitable donations, including the donation that led to the formation of the Arthur J. Samberg Institute for Teaching Excellence.
Based at Columbia University, where Art J. Samberg earned his MBA, the Arthur J. Samberg Institute for Teaching Excellence serves as a faculty resource. It hosts junior, senior, and visiting faculty for events such as conferences and teaching seminars. The overall goal of the Institute is to promote educational practices by improving the quality of teaching provided by faculty through initiatives such as a mentorship program.
The mentorship program pairs an educated and experienced leader with a less-experienced individual. The goal is to help the mentee earn additional skills he or she may need while focusing on the application of those skills. The program includes relationship-building and filling the gaps that exist between classroom education and real-world work dynamics. Through the mentorship program, the Institute helps faculty become more successful.
Art Samberg has one of the longest-running careers on Wall Street. He started his first fund in 1986, which he managed continuously until 2009, retiring from the firm he founded, Pequot Capital Management, Inc. Aside from establishing Pequot, Art Samberg served as president of Dawson-Samberg Capital Management and as a partner at Weiss, Peck and Greer.
Following a generous gift to his alma mater, Columbia Business School founded The Arthur J. Samberg Institute for Teaching Excellence. The Institute aims to enhance the educational experience at Columbia Business School through providing training programs and other professional resources for both students and faculty.
In October 2014, over 500 Columbia Business School graduates took part in a two-day event focusing on investment and innovation in Singapore. Hosted by the Ritz-Carlton Millenia Hotel, the symposium welcomed top business executives and economic scholars, including Henry Kravis, class of ’69, who is co-chairman of Kohlberg Kravis Roberts & Company, and Charles Li, CEO of Hong Kong Exchanges and Clearing.
Arthur Samberg, the former chairman and CEO of Pequot Capital Management, Inc., managed hedge funds on Wall Street for more than 20 years. Passionate about supporting the community philanthropically, Art Samberg and his wife Rebecca made a generous donation of $25 million to establish a scholars program at Morgan Stanley Children’s Hospital.
The endowments will enable the hospital to better serve its patients by recruiting and retaining some of the most brilliant minds in the field of pediatric medicine and by allocating more money to clinical research. The donation initially funded 10 endowed positions for physicians at the hospital. Over a period of five years, Mr. Samberg’s donation will draw up to 40 pediatric scholars to the hospital.
Only pediatricians or pediatric subspecialists who have a track record of excellence in patient care, community involvement, and teaching are considered for the Samberg Scholar appointment. Some of the inaugural 10 scholars included Drs. Jocelyn Brown (general pediatrics), Pasquale Casale (urology), Lisa Imundo (rheumatology), and Heakyung Kim (rehabilitation medicine).
At one time one of the world’s top hedge fund managers and a prolific philanthropist, Arthur J. Samberg supports numerous non-profit causes through generous donations. In 2006, Art Samberg’s donation of $25 million to Columbia Business School, where he earned his master’s degree in business administration, helped the school hire 20 new professors and expand its research capabilities.
The Columbia Business School faculty conduct research in a number of areas. Andrew Hertzberg, an assistant professor of finance and economics, recently presented the results of his research on the failure of consumer households to save money for retirement. Hertzberg’s approach challenged the typical assumptions that assume the members of households have identical objectives. Allowing for a limited degree of selfishness, even in stable households, enabled him to gain insight into how the pursuit of personal desires affects saving rates.
In particular, Hertzberg found that spending on durable goods, such as cars and jewelry, crowded out savings. Overspending on these items occurs because the benefits of the items often apply primarily to one member of the household, and that individual redirects shared resources for their own benefit. In light of this trend, which exists even in the context of successful marriages and family relationships, Hertzberg suggests couples can maintain fiscal discipline by actively designing a savings plan in advance rather than passively accumulating unspent funds.