Financial History Issue 123 (Fall 2017) | Page 5

TRUSTEES IN THIS ISSUE DEPARTMENTS Richard Sylla, Chairman New York University Andrea de Cholnoky, Vice Chair Golden Seeds Robert Muccilo, Treasurer Consolidated Edison 4 The Ticker Alvi Abuaf Museum gears up for 2018 Gala honoring Timothy Geithner and Ken Griffin on February 6. Financial Services Executive Gregory Bauer Moody’s Marcy Cohen ING Americas 4 Message to Members David J. Cowen, President/CEO   By David Cowen, President and CEO Museum of American Finance Sanford Crystal Crystal & Company 7 Connecting to Collections John P. Davidson III Citigroup MoAF Launches “Making History Series” Charles Elson   By Sarah Poole University of Delaware Adam Goldstein Vettery 8 Educators’ Perspective Martha Clark Goss American Water Works Guano Finance Cory Gunderson Protiviti   By Brian Grinder and Dan Cooper Robert Hotz Houlihan Lokey Alfred F. Hurley, Jr. 38 Book Review Emigrant Bank Adaptive Markets: Financial Evolution at the Speed of Thought, by Andrew W. Lo Myron Kandel CNN Glenn Kaufman   Reviewed by James Prout Kaufman Family LLC Ranch Kimball Glorious Cahoots Capital Partners 39 Trivia Quiz Consuelo Mack WealthTrack Elizabeth O’Melia S&P Global Ratings Richard B. Payne, Jr. Financial Services Executive Verne O. Sedlacek Financial Services Executive Karen Seitz ON THE COVER Mark Shenkman Shenkman Capital Management, Inc. David L. Shuler itBit Maria Smith Smith Affiliated Capital (SAC) Charles Wait World War I poster issued by the National Industrial Conservation Movement, which shows Uncle Sam firing a cannon labeled “American industry” shooting supplies and munitions to “The Allies” on a distant shore, 1917. See article, page 16. Fusion Partners The Adirondack Trust Company John E. Herzog, Chairman and Trustee Emeritus Herzog & Co. www.MoAF.org  |  Fall 2017  |  FINANCIAL HISTORY  3