Arthur J. Samberg graduated from Columbia Business School with a master of business administration in 1967. Art Samberg became a successful investment banker and led multiple investment firms, and he continues his investment ventures into retirement. Since graduating, Art Samberg has made multiple donations to his alma mater, most recently in 2013, when he pledged $25 million for the construction of the new Manhattanville campus.
Samberg was not alone in his donation, as fellow ’67 graduate Mario J. Gabelli pledged an additional $15 million, for a combined $40 million. The pair not only graduated in the same year but also sit on the Columbia Business School Board of Overseers. Samberg was quoted as saying, “In supporting Columbia Business School, I’m helping others, who didn’t grow up in the same environment, get a chance to advance.”
His charitable work includes not only donations of time and money to Columbia Business School but also work for other charities and nonprofits, including College Summit, Historic Hudson Valley, and the UJA-Federation of New York. Pre-construction for the Manhattanville campus began in 2008, and construction is still in progress. Ongoing construction updates are available via the official campus website.
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.
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.
Art Samberg, a Columbia Business School alumnus and well-known hedge fund manager, has been honored for his generous donations to the school. In 2002, Art Samberg provided a gift that made it possible for Columbia to begin The Arthur J. Samberg Institute for Teaching Excellence. Four years later, he aided Columbia with a grant that allowed the endowment of 20 new professorships. More recently, in 2013, Art Samberg, a member of CBS’s Board of Overseers, generously pledged $25 million to Columbia Business School toward the construction of the school’s innovative new Manhattanville campus.
As part of its ongoing commitment to preparing its students for the rapidly changing world of international business and economics, the Columbia Business School recently introduced a new core curriculum for the class of 2015. The school unveiled its new approach over the summer of 2013, through a dozen online videos highlighting the most important reasons for the curriculum changes. Made to reflect changes in the modern business world, the new curriculum includes a credit-bearing leadership course that will be held during student orientation, rather than during the first semester; an increase in the number of electives first-year students are permitted to take; an increase in online coursework; and a complete makeover of the decision models course, which will now recognize the importance of big data in modern business.