COB students help launch fund to boost career connections for classmates

In 2023, East Carolina University College of Business finance students Pierson Elwell and Gregory Sharafinski developed a proposal during a flight to San Francisco, aiming to improve experiential learning for future students.

Their idea was inspired by discussions with Sanford Bailey ’64, a COB alumnus who funded trips to financial hubs like New York City and San Francisco, emphasizing the importance of travel for networking and career opportunities.

“Pierson and I sat next to each other and hammered out an initial guide on how the gift could be used and how it could operate,” said Sharafinski. Connecting with other individuals would be a key goal.

“Travel is extremely important,” said Elwell. “Getting those connections established and getting students placed in high finance roles – those are some of the biggest outcomes we can expect from Blacksail.”

As a result of their efforts, the Blacksail Fund has been established with a $1 million donation from Bailey. This student-managed investment fund will allow COB students to gain hands-on experience in financial portfolio management, with proceeds supporting travel and other experiential learning activities. The fund will also provide access to a Bloomberg terminal, equipping students with vital real-time financial data and tools.

“I believe this (gift) will result in higher levels of achievement after leaving the college experience and broaden students’ contact bases, which is so important as they enter the competitive job market,” said Bailey.

COB Dean Mike Harris says the fund will position the college as a destination for students who want to enter the financial industry.

“We’re raising the bar regarding experiential learning and other experiences here in the college,” said Harris. “As we grow, our alumni expect more. Their support makes the college more competitive and attractive to students.”

Matthew Slate ’96, a teaching instructor in finance and insurance, a veteran in financial markets and a member of the ECU Foundation board, will oversee the fund, aiming to mimic the real-world operations of an asset-management firm. He envisions the fund enabling students to develop critical skills and narratives that will boost their employability after graduation.

“What I hope comes out of it are practical experiences that make our students materially more attractive from a skill set perspective,” said Slate.

Christopher Dyba, vice chancellor for university advancement, said it’s not unusual for students to participate in fundraising and stewardship, but Elwell and Sharafinski elevated the role students can have in a noteworthy gift. “Pierson and Gregory went beyond participation and applied their entrepreneurial aptitude to an idea and turned their donor-funded experience from a pitch to a proposal, which will create new opportunities for students,” he said.