Alumni Spotlight: Phil Canfield

In the thirty years since Phil Canfield graduated from the University of Texas with degrees in Business Honors and Finance, much has changed in the world, in Austin, and on our campus. We begin our conversation discussing the increasing number of hipsters in the city (we are meeting during SXSW, after all) and then move into talking about the dynamic relationship between artificial intelligence and business. Despite this rapid evolution, Mr. Canfield agrees that one thing has remained constant: The caliber of the Business Honors Program and the benefit of receiving a Business Honors degree.

“The BHP was a small group within a large university, which allowed for teamwork and the ability for us to have a small cohort of really bright students that I could work with, learn from, test ideas out, and play ideas off of each other. It was seamless going from that environment to sitting at a desk at Kidder, Peabody, and Co. working on financial models and being part of a deal team,” Mr. Canfield shares. Throughout our conversation, we keep coming back to this theme of the strong relationships students build with each other through their time in the program. He believes these tightknit relationships are one part of what make the honors program unique. “It’s not just the friendships, it’s also learning how to work with other people,” he says. “Also, the faculty. Those are the two things that make a great learning experience: A great group of engaged students whom you know and build relationships with combined with a faculty that pushes you, teaches you things that perhaps weren’t intuitive, that surprise you, and importantly, a faculty that is doing research in areas that are going to be important for the future.”

Mr. Canfield vividly remembers being pushed and challenged in his honors classes. When asked about his favorite memory, he laughs and says he doesn’t have a favorite memory, but he definitely has a class that he remembers the most. “I think everybody who comes to BHP is used to making A’s. So, we had this Operations Research class, and I remember about 4 weeks into the class, I was sitting with my group of 5 or 6 friends that we studied with and 2 or 3 of them really got it in a way that I didn’t. And I realized that I wasn’t going to get it. It was the only class at UT in my entire 4 years where I said, ‘You know what, I think I’m shooting for a B in this class.’ And it’s so funny because I think about that all the time; it’s the only time I’ve ever just stepped back and said, ‘Wow, there’s something about the way that they think that’s different than the way I think. This makes sense to them and this is really hard for me.’”

Mr. Canfield believes the difficulties that honors students face together, like challenging courses, are what allow the close friendships to form. “BHP is an intense program. Any time a group of people go through something with that intensity together, they create a bond. The great thing about bonds like that is they really stand the test of time.” As an example, he recalls calling his BHP peers when it came time for him to think about what he was going to do after his first two years in investment banking. “It was useful for me to be able to call friends of mine who I had this shared experience with,” he says. “At the time, most people only worked for two years and then went and got an MBA, and I was thinking about not doing that. That’s a big decision, it’s the kind of decision where there aren’t that many people you can really talk to about it.”

After two years at Kidder, Peabody, and Co., Mr. Canfield joined GTCR, a private equity firm. After two years as an associate there, he started thinking about getting his MBA. “At the time in private equity, there were very few people who did not have an MBA. I felt like as long as I stayed on track at GTCR, working with people I knew and who knew what I was capable of doing, things would probably be fine; but I had this nagging concern that there was more that I could know, so I decided to pursue an MBA.” Mr. Canfield started at the University of Chicago Booth School on a part-time basis, working full-time during the day and taking classes in the evening. “That didn’t last too long,” he chuckles. Eventually, he took two quarters off from work to finish his degree.

Reflecting on his experience in the MBA program, he recalls how prepared he was for the curriculum and how his past BHP classes allowed him to customize his MBA degree. “I was incredibly well-prepared. In fact, I got to skip a lot of the intro-level, first-year MBA classes. The neat thing about that was that it enabled me to quickly go to the higher-level classes and get a dual concentration in finance and accounting. I probably would not have been able to do that if I didn’t have the BHP background. The BHP enabled me to get a more broad experience when I did decide to go get an MBA, and it allowed me to tailor that experience more to what I felt I needed for my career.”

Mr. Canfield is now a successful Managing Director at GTCR, a leadership position he has held since 2007. He and his wife Mary Beth are also devoted philanthropists who focus on education. In November 2018, we celebrated the official naming of the Canfield Business Honors Program in the McCombs School of Business after a generous donation from the Canfields. They believe that contributing to education has the highest return on investment. “In my deepest part of my heart and soul, I’m an investor. I think, ‘Let’s do something early, let’s make an investment, let’s put capital into something, and then let’s see that have a return over a long period of time.’ For me, investing in someone’s education is exactly the same thing. I’ve always felt like it’s really important for our society to support getting everyone an opportunity to have a great education. I also think it’s a great investment that enables people to do something really fantastic.”

In closing, Mr. Canfield offers the following words of advice for our current students: “Enjoy the experience, but also make sure that whatever you choose to concentrate in, really make sure you focus on the fundamentals of that concentration.” He talks about Novak Djokovic, the best tennis player in the world, and how he drills and works the fundamentals with a hitting partner and his coach. “Why does he do that?  Because those fundamental skills need to happen automatically. If your concentration is accounting, then you need to work on it so hard that it is just intuitive to you. The test of knowing the fundamentals in a particular topic is you can look at a problem that you’ve never seen anything like it before, and you can intuit how it must have to work. That’s when you know you really understand it at the detailed level and the abstract level because you can take all the stuff you know about that particular topic and say, ‘Well, I’ve never seen this particular area before, but it must work this way.’ In business, to succeed in your career, you need to be functioning at that level.”

He also has some advice for prospective Canfield BHP students that we wholeheartedly agree with: “You should come here because it’s the best undergraduate business program in the country. You will learn a tremendous amount, you’ll make great friends, and it will serve you very well in your career.”

Watch the video celebrating the newly named Canfield Business Honors Program here.

Student Spotlight: Dallas Killeen

Dallas Killeen

Written by William Acheampong

Senior Dallas Killeen is wrapping up his degrees in Business Honors, Plan II, and English Honors. During his four years at UT, Dallas made the most of his opportunities as a McCombs student. After his freshman year, he attended a faculty-led program to Hong Kong where he learned about supply chain management firsthand. While on the trip, Dallas visited a Target store in Pflugerville, a distribution center in Midlothian, and the Port of Los Angeles to see Target’s supply chain from beginning to end. Once in Hong Kong, he and the other students took a trip to mainland China to visit factory facilities. Reflecting on his experience in Hong Kong, Dallas recalls his time in the summer program as an immersive, experiential learning opportunity where he developed meaningful relationships with both other students and his professors. Although Dallas thoroughly enjoyed his summer in Hong Kong, his desire to continue his studies while exploring the world still lingered. During his junior year, Dallas decided to study abroad for the second time. This time Dallas spent the semester abroad in Madrid, Spain, where he took a handful of marketing courses. Living by the motto, “when in Spain, do as the Spanish do, and speak Spanish,” Dallas also took a number of Spanish classes to deepen his understanding of the Romance language.

When Dallas is in Austin, he is busy with a handful of student organizations, such as Texas Blazers and the Undergraduate Business Council (UBC). As a freshman looking for a welcoming community to call his own, Dallas joined UBC, a community of McCombs students who serve as representatives of the McCombs School of Business to create a better environment and improve the education of all business students. Now in his final semester on the council, Dallas serves as Traditions Chair, which allows him to plan events that further cultivate the close-knit UBC community. Similarly, Dallas is a member of Texas Blazers, an honorary service, leadership, and spirit organization devoted to serving The University of Texas at Austin. As a Texas Blazer, Dallas is an official host of the university and a mentor to students at Eastside Memorial High School.

Many of Dallas’ campus involvements pertain to service, leadership, and community-building. Naturally, during his junior year, Dallas became a Canfield BHP Peer Mentor, a role that allows him to mentor a group of freshman CBHP students during their first semester on the Forty Acres. A year later, Dallas is still a peer mentor and decided to take a second group of freshman under his wing. Through this role, Dallas has shared his experiences in order to inspire confidence and show students that they belong in McCombs just as much as anyone else. For Dallas, the most satisfying part of the job is being able to watch his mentees tackle the world on their own. Whenever Dallas ends a semester with his mentees, he reminds them to develop their own metric of success and to blaze their own trail during their time at UT.

Intern Spotlight: Janelly Areche

Written by Carrie Cruces

Janelly Areche

Majors: Business Honors, Management Information Systems, Plan II Honors

Position: Project Supervisor

Company: Amigos de las Americas

Topics: Work abroad, Nonprofit, Presentation Skills

Jannelly Areche is a Canfield BHP sophomore from Houston, Texas, who is also majoring in Plan II and Management Information Systems (MIS). She recently had the opportunity to intern with Amigos de las Americas in Costa Rica during her freshman summer in 2018. Amigos de las Americas is a nonprofit organization with 25 chapters across the U.S. Its mission is to inspire positive change in communities around the world by leading collaborative community development programs and cross-cultural immersion experiences typically over the summer and gap years. She felt challenged by the experience from the moment she arrived in Costa Rica, when she found herself leaving the airport with only an email of instruction on how to arrive at the Staff House three hours away. She had to backpack from one community to another every day as she worked with the local nonprofit Casa de la Juventud, which focused on sustainable projects in Latin America.

As Project Supervisor, she was in charge of preparing the community for the volunteers’ arrival and conducting bilingual trainings and workshops for them once they arrived. She visited all 50 volunteers every weekday to provide emotional and health support and to monitor their progress in the community-led project, stepping in to assist with problem-solving when necessary. On the weekends, she would lead camp retreats to different communities around the province, which consisted of working on projects and engaging in workshops that the community would choose. “My favorite part of the program was the weekends,” she shared. “It encouraged a blend of cultures because each participant needed to invite a local youth from their host communities to join them.”

The final project: a playground in El Pilar

Jannelly credits her freshman honors classes with preparing her for this internship, particularly the professional communication class (B A 324H), which developed her communication and presentation skills. She says she constantly used them throughout her internship when speaking to community members and leading meetings. B A 324H provided her with the opportunity to practice presenting constantly, which boosted her confidence when speaking in front of an entire community during a large community dinner.

Jannelly offers the following advice for current and prospective students: “Coming into this large university, it can be daunting to see all of the different paths you can take. Especially being in a business school, you might feel pressured to get an internship in the corporate world. While it is great to get business experience, it is not necessary. In the words of Marie Kondo, you should choose your involvement based on what sparks joy. Do not feel forced to take on a role because of how professional it sounds. Choose your involvement because of how much you genuinely enjoy doing the work, the impact it has on the community, and the opportunities for growth.”

Outside of class, Jannelly is involved in various organizations on campus, such as the Association of Latino Professionals for America (ALPFA), Student Government, Orange Jackets, and 180 Degrees Consulting, which she says help her create a positive impact in her community. In addition to her involvement in these organizations, she holds a leadership role in ALPFA as their Service Outreach Director. In this role, Jannelly hosts service events with a variety of nonprofits around Austin with the goal of encouraging ALPFA members to identify which causes are important to them and providing them opportunities to do so.