Construction Begins for Iona College’s State-of-the-Art, “Real Time” Trading Floor

At construction site for Iona College’s trading floor are (l-r): Robert LaPenta, one of the two alumni who contributed to the financing of the project, and Dr. Vincent Calluzzo, Dean of the Hagan School of Business. Not shown is Patrick Lynch, the second alumni who helped finance the $1 million cost of the project.

Iona Will be Only College in Westchester to Offer Capability to Students, Support by Two Alumni Make Possible Start Of New Center of Financial Market Studies

NEW ROCHELLE, NY — Thanks to the generosity of two successful alumni and long-time supporters of Iona College, construction is underway for the Hagan School of Business’ new state-of-the-art, “real-time” trading floor. It will be the centerpiece of a new Center of Financial Market Studies which will help prepare students for careers in corporate finance and the financial services industry. Iona will also be the only college in Westchester to offer a trading floor capability to students.

The trading floor will not only be a component in new concentrations and certificates being planned for the Hagan School of Business graduate programs but use of the facility will also be incorporated in many of the undergraduate courses.

The $1 million cost of constructing the 860-square-foot trading floor was contributed by Robert LaPenta, a 1967 graduate and Patrick Lynch of the class of 1959. They are also hold honorary degree recipients from Iona.

The new facility, which is being built on the main floor of the Hagan School, will enable students to learn first-hand how to use the same technology and analytic tools used on Wall Street.  With access to “real time” stock market quotations and the latest market news and announcements, they will be able to build and track investment portfolios as if they were on a trading floor or in a corporate finance office.

The trading floor will offer a fully-equipped, simulated trading environment featuring 20 high-end networked trading desks, continuous live data feeds from Bloomberg, real-time market quotes and computerized trading models. It will be overseen by a director and a full-time technician and staffed by students who will assist faculty members and other students.

Dr. Vincent Calluzzo, Dean of the Hagan School of Business, said:  “This exciting expansion further advances the Hagan School’s reputation as one of the region’s premier MBA programs and elevates Iona College’s standing.”

Mr. LaPenta is Chairman, President and Chief Executive Officer of L-1 Identity Solutions, a New York Stock Exchange-listed company that protects and secures personal identities and assets to help international governments, law enforcement and commercial businesses better guard the public against global terrorism, crime and identity theft. He has more than 30 years of executive management experience and has generated billions of dollars of shareholder wealth throughout his professional career.

Mr. Lynch is a private investor and formerly Senior Vice President and Chief Financial Officer of Texaco Inc. He has been a member of the Board of Trustees of the American Petroleum Institute, the Conference Board of Financial Executives and the CFO Advisory Council.  Mr. Lynch is also a Director of Aquila, Inc. and North American Galvanizing & Coatings, Inc.

Dean Calluzzo noted:  “We are grateful for the generosity of Messrs. LaPenta and Lynch who are making our vision for the Hagan’s Center for Financial Market Studies a reality. The practical hands-on experience of these advanced technologies, combined with the expansion of majors in our MBA program, will no doubt help develop the next generation of leaders in the corporate and financial services sectors.”

Founded in 1940, Iona College is a private, coeducational institution of learning dedicated to academic excellence in the tradition of the Edmund Rice Christian Brothers and American Catholic higher education.  Iona – currently listed in the top tier of US News and World Report’s annual “America’s Best Colleges 2011″; The Princeton Review’s “Best Northeastern Colleges” 2012 edition and BusinessWeek’s “Top 25 Undergraduate Business Schools in the Northeast” – offers undergraduate degrees in liberal arts, science, and business administration, as well as Master of Arts, Master of Science and Master of Business Administration degrees and numerous post-graduate certificate programs

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