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Alumni Spotlight: Arthur Li – Head of Business Finance and Administration for Altamarea Group

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Alumni Spotlight: Arthur Li – Head of Business Finance and Administration for Altamarea Group

Arthur Li, BHP class of 2006, is Head of Business Finance and Administration for Altamarea Group, a highly respected and industry recognized restaurant group in New York City comprised of Marea, Ai Fiori, Costata, Osteria Morini, Nicoletta, and The Butterflyin New York City; Osteria Morini and Due Mari in New Jersey, and Al Molo in Hong Kong. Arthur graduated with degrees in BHP and Plan II, and earned his MPA the following year. We recently spoke to him to find out more about Altamarea Group and his role there.

 

Tell me about your career path leading up to what you are doing now.

During my 5th year I was working for J.P. Morgan in Austin in the investment banking group with restaurant industry focus. After graduation I stayed on with the same group. I was fascinated by the restaurant industry and loved food, but knew I wanted to work in finance, so this opportunity combined both perfectly, and I got to stay in Austin. After a year, I transferred to J.P. Morgan’s consumer retail investment banking coverage group in New York. In November 2008, I moved on to Wasserstein & Co., a middle-market private equity firm. I spent two years there, and got some really great experience and got to learn more about other industries. But I was working 80-100 hours a week and starting to feel a little burnt out.

In 2010, I decided to do something new and different and started to explore something in the restaurant industry. I started looking at smaller restaurant groups in New York and other ways to get into the industry. I had always been reading the food blogs and keeping track of the hot restaurants in the city. One day, I came across a New York Times article on Altamarea Group. It was the first time I heard about the group, but after reading the article, I knew this could be my dream job. One of the owners, Ahmass Fakahany, who was previously the CFO of Merrill Lynch, had made the jump into the restaurant industry like I wanted to do. I figured if the group was growing that rapidly, maybe they could use an extra finance person. With nothing to lose, I emailed the generic jobs email address letting them know my interest in joining the group, and within days, Ahmass reached out to me. We had a few meetings, then the day before Thanksgiving, he offered me a position as Head of Finance for Osteria Morini. A year after joining Altamarea Group, I was promoted to serve as Head of Business Finance for all of the restaurants in the group. I currently manage a team of seven who perform day-to-day book-keeping, accounting, operational finance and administrative activities. I also work closely with senior management in growing the company, both organically at each of our current locations and through new restaurant expansion.

What appealed to you about Altamarea Group?

The group is entrepreneurial. We are building the business from the ground up. It is a very different scene, which I love. I traded Park Avenue for Soho. I have a lot of room to mold and shape the strategy of the group. I get to work with the best of the best in the industry and interact with GMs and chefs. I work with so many kinds of different people, which I love. I enjoy getting to see all aspects of the business – HR, operations, business development, construction. Plus, I get to call Chef Michael White, a multiple Michelin-starred, James Beard award-winning, and Relais & Chateaux chef, my boss.

What are the challenges and rewards of working in the restaurant industry?

In banking and private equity, we were able to move so quickly, because that is the nature of finance. It is not the same pace in the restaurant industry. The vendors we work with don’t move at that pace, so there are always road blocks and delays. It is definitely a challenge to move at a slower pace, especially when we are trying to execute such an aggressive growth strategy. There are also a lot of different personalities to manage, which can be exciting but also admittedly challenging at times. On the flip side, when our restaurants are successful as they are, that is the most rewarding feeling. When our clients are happy, we are happy. I work with all our chefs and GMs to figure out how we can maximize not just the top-line but our profitability as well. I literally go down every line item of the P&L to figure out how we can spend less to make more. It is also very rewarding when we open a new restaurant. I treat all our restaurants as if they are my children. Every new restaurant we open is like having another baby for me.

What is the growth plan for Altamarea and what role will you play in that?

We currently operate seven restaurants now, and we are excited to be opening six more this year – two in New York, one in New Jersey, and one in Washington DC. We are also opening a new concept in London next month, which is truly exciting. No two of these restaurants are the same concept, which makes it challenging but fun at the same time. Beyond 2013, we are actively looking at other markets for expansion, including Los Angeles and Asia. We feel like we have a lot of growth in front of us.

I work very closely with Ahmass and Michael, as well as our media relations, business development and legal teams, and play a role throughout the entire opening process, from lease negotiations, capital budget planning, design and construction, to opening. When we are opening so many restaurants so quickly, it is extremely important that we are managing our cash flow optimally. This falls squarely on the finance team’s shoulders.

How did you learn all of the elements of your job that you didn’t already know?

I am a relentlessly hard worker and will do as much as I can as best as I can to figure something out. A lot of it is just problem-solving, which I learned a lot of from BHP. I started with a good knowledge base and have been able to learn throughout my career the other aspects of managing a business and managing people. If you are smart, a hard worker and know how to work well with people, you will do well. Attention to detail and organization are also very important. I juggled a lot in college, so I feel like I learned a lot of these soft skills during that time. Problems, emergencies, dilemmas are so common in the restaurant business, it is important as a leader to remain calm and rational so we can figure out how to put out the fires.

In what other ways do you feel BHP prepared you for your career?

I was really into BHP when I was a student. BHP classes were my favorite. I was a recruiter, peer advisor, and a TA for BA 101H. I have realized over the course of my career that group projects and cases were very valuable experiences. I have been able to problem-solve and manage people better because I had a head start on this in college due to the interactive nature of BHP classes. Also, my focus on networking and getting involved put me ahead and helped set me apart in my job search.

What advice do you have for current students?

Regardless of whether they plan to go into finance, something finance-related, or even a non-finance career, accounting is a really important skill to have. I oversee the finance team, and when we are hiring junior people, a candidate with accounting background automatically stands out. Take your accounting classes seriously even if you don’t pursue this as a major or career because that knowledge will set you apart and will prove to be useful down the line in life. Also, take advantage of being part of a small cohort within the BHP community and get to know as many people as you can. Coming to New York, I knew a lot of people in New York who were BHP, and our worlds frequently collide. It is great to have that BHP connection, especially when we are so far away from Texas.

Student Spotlight: Jeff Stevens – Senior BHP and Finance Major

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Student Spotlight: Jeff Stevens – Senior BHP and Finance Major

Senior Jeff Stevens was recently honored with the Barbara Jordan Business Leadership Award, the BBA/MPA Alumni Advisory Board’s Rising Star Award, and the BHP’s top honor, the Doenges Award. What has set Jeff apart this year is not only his stellar leadership, service and academic accomplishments, but also the fact that he stepped up and took on several additional service and leadership positions in his senior year. During a time when most seniors take a step back, Jeff kept pushing himself to give more and have more of an impact before graduating. This year he lead the BBA Legacy campaign, headed marketing for the BHP Make-a-Mark campaign, served as a BHP recruiter, joined the Financial Analyst Program Advisory Board, and coordinated the BHP senior newsletter. We visited with Jeff to get some final thoughts on his time here before he leaves.

You have said that being a recruiter for the BHP was your favorite thing you did. Why?

Yes, there are two things that stick out to me about the experience. Being a recruiter has really made me feel like I am giving back to a program that gave me so much. I like to recruit the type of students who are going to make this program and the value of my degree even better. I also like interacting with the students. It gets me excited about school and has helped me push through all I do for my classes and extracurricular activities. In order to recruit the best students, I have to be on top of my game too. In order to sell BHP to them, I have to be able to tell them what I love about the program and all of the things I am doing.

How did you find your path of which organizations to be involved in?

I was drawn towards the people in the Undergraduate Business Council from the start. That was the vehicle through which I got involved in a lot more at McCombs. I had to pick and choose what was most meaningful and which I could give back to the most. I got involved in things my mentors were involved in. Michael Daehne and Bhargav Srinivasan were probably my greatest mentors in terms of how to be a leader and connect with people and how to choose which organizations to get involved in. My work this year on the Legacy campaign was motivating and I felt I could really make an impact on that campaign and improve it. I had a wide range of experiences at UT, which helped me explain to people why giving back to McCombs is important. A lot of the success of this year’s campaign was due to the strength of the committee and their network. We hit 28% participation, which was more than double the rate of any past campaign.

What lessons have you learned from all of the leadership positions you held? Were there any common themes?

I have always been good at managing tasks and getting things done, but I learned how to better manage people. Leading by example is very important, especially when interacting with underclassmen. I never approached them with the idea of me mentoring them, but I found that if I was open to learning from them and was open to answering any questions they had, that sort of mentorship relationship naturally progressed. I think it is important to always been kind to people and take time out of your day to develop relationships, and not just constantly ask people to do things.

What will you remember most when you look back on your time at UT?

Being a part of the VIP Distinguished Speaker series was amazing. I got to hear from C-level executives, including Indra Nooyi, CEO of PepsiCo. I learned so much from them. I have also really enjoyed being involved in Make a Mark and reconnecting with all of my classmates who I haven’t had classes with in a while. Going to the football games is great and I have also enjoyed checking out the Austin food scene.

What are you most proud of and why?

I am most proud of the relationships I have built with not only those in my class, but also underclassmen. I have really enjoyed the mutual opportunities for learning from these relationships. Being a cheerleader for other’s success is so much more rewarding than just being successful yourself. I really enjoy helping people succeed and again, I think that is part of why I enjoyed being a BHP recruiter and helping students see how BHP can help them accomplish their goals.

If you could go back and give advice to yourself as a freshman, what would you say?

I would say not to give up anything that you are passionate about.  I was really passionate about band and music in high school and that is my greatest college regret that I didn’t pursue it further once I got here. I probably would have joined Longhorn Band if I had it to do over again.

What are you going to be doing after graduation?

I will be working for Exxon Mobil in Houston. My role is yet to be determined there, but I did my internship there last summer in their Internal Audit Division and really liked it. I feel confident in saying that I will stay with the company for many years. I hope that will afford me the opportunity to live and work in other countries. The travelling and study abroad experiences I did in college really opened my eyes and I would like to continue to broaden my world view and experience how business is conducted in other countries. I am actually going to be travelling this summer before I start my job and will be doing an internship in Shanghai, China. I found a program through the UT International Office and decided it would be a great opportunity. I will be working for an energy think tank, the China Energy Fund, doing research about the energy needs of China. That research will then be passed on to oil and gas companies operating in China. I am excited to start a new phase in my professional and personal life, but am also looking forward to staying connected to UT through my involvement with the BBA/MPA Alumni Advisory Board.

 

Student Spotlight: Stephanie Morgan

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BHP sophomore Stephanie Morgan, is taking advantage of as many opportunities as she can while she is in school. A Plan II Honors and BHP major, she feels she has the best of both worlds – receiving a strong liberal arts and business education. Stephanie has already participated in two study abroad programs, is an officer for the Honors Business Association, and will be interning with Amazon.com this summer. Originally from Atlanta, Georgia, she has already grown to love Austin and says she knows she made the right choice in choosing to come to UT and be in the BHP.

Being an out-of-state student, how did you hear about and decide to come to BHP?

I did my research and applied to a lot of universities. UT is one of the only universities where you can participate in a business and liberal arts honors program and still graduate in four years. I really liked the well-rounded approach to learning and MBA-style classes. I visited one weekend in the spring of my senior year and met the BHP staff and some current students, and just felt like it was where I was supposed to be.

You are the Financial VP for HBA. What do you enjoy about being involved with that group?

My favorite part is the opportunity to hang out with other BHP students outside of class in a non-academic setting and get to know BHP students in other grades. The BHP community is one of the strongest features of the major, and I think HBA is where you get the community feel the most.

You are interning with Amazon.com this summer. Tell me more about what you will be doing.

I will be working out of a fulfillment center in Phoenix which is the size of a football field. I will be managing a team of about 20 employees and will get to try all of the associate positions, so I will get to see the entire inbound to outbound route of a product.

What are you hoping to learn from the internship?

I am most excited about the leadership and management part of it. I think that is my strength and I am excited to learn more. I also think it will help me figure out if I want to go into supply chain for my career.

What was the interview process like?

I found out about the position because they were hosting a dinner and contacted HBA about meeting with student leaders. Because I am not a declared supply chain major, the position wasn’t open to me on OCR, but since I already had those contacts, I applied directly through the company. There was only one round of interviews. The interview had a behavior aspect and also a technical aspect, with a few supply-chain questions.

Tell me more about the summer study abroad programs you participated in this past summer.

I did two study abroad programs this past summer. I spent seven weeks in France and five weeks in Oxford. All of the classes that I took weren’t required for my majors, but were just classes that interested me. I took English courses taught by UT professors at Oxford.I took a French language course and a French culture course during my time in Lyon. Both programs were with other UT students. I didn’t know anyone else going and it was my first time going abroad, so it was a great growing experience. I became good friends with the other students and also got to stay with a host family in France, which was a great experience.

What are you involved in outside of class?

I am heavily involved with Texas THON. It is a non-profit organization on campus that raises funds for the Children’s Miracle Network at Dell Children’s Medical Center of Central Texas. Our major event every year is called Texas THON. It is an event where people pledge to stand for 12 hours to raise money for the organization. The Miracle Kids are very inspiring and have been through more than most of us could imagine. I was the Catering and Sponsorship Chair this year, so I secured donations for food and prizes, and was heavily involved with organizing everything for the event. It is really important to me to be involved in community service and I have learned a lot from being involved in the organization. My management and business communications classes have been helpful to me in terms of leadership and it was neat to apply what I had learned. I also run a lot and ran the LiveSTRONG Half-Marathon recently. I enjoy staying active.

Do you have any words of advice for your fellow students?

Focus on things you enjoy. Don’t feel pressured to do what everyone else is doing. You will get the most out of your college experience by doing things that are important to you.

BHP Alumni Spotlight: Savitha Bonthala – Class of 2008

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In June, 2008 BHP alumnae Savitha Bonthala, will receive a doctor of osteopathic medicine and a master’s in public health degree from the Touro University College of Osteopathic Medicine. Her involvement with the American Medical Women’s Association over the past few years, has allowed her to travel to Uganda to help deliver medical aid. We recently visited with Savitha to learn more about her experiences in global healthcare, and what she has been doing since graduating from the BHP.

How did you become interested in going into the medical field?

What got me interested in medicine originally was my interest in global health. I was born in India and raised in the United States, and when I went back to visit seeing the poverty there was astounding and I felt a calling to work in global health.

What is osteopathic medicine and what do you hope to do with your degree after graduation?

Osteopathic Medicine (DO) is similar to Allopathic medicine (MD) but in osteopathic training, you also learn how to use your hands to diagnose and treat different chronic, or acute issues of the body. We focus on treating the whole patient, in terms of body, mind and spirit. It is a holistic and comprehensive approach to treating a patient. In addition to a holistic approach, I would like to do more public health work, especially in terms of education and children, because that is where I think I will make the biggest impact.

What have you been working on through your involvement in the American Medical Women’s Association?

We promote gender equality and medicine and I am in a fellowship through the association. I am currently the Global Health Chair for the association, so I help promote and expand global health opportunities for students who are members of the association. I am currently one of eight female medical students chosen from across the country to participate in the Anne C. Carter Global Health Fellowship. I was granted the fellowship in 2010 and will remain a fellow until I graduate. It has allowed me to travel to Uganda in February 2012. I went to Uganda for two weeks and worked in a small primary care clinic. I treated people of all ages, from infants to those who were well into their 90s.

What kind of health issues were you seeing frequently?

We had a lot of children with malaria come into the clinic. It was our number one pediatric diagnosis. Because of the enormous impact of malaria in the community, we went out to the village and spent time educating children about the disease. Children can get malaria anywhere from three to five times, or more, in their lifetimes there. It is one thing to treat the malaria, but another to also educate, so that we don’t have to treat as many cases. I spent a lot of my time educating people. I loved the work I was doing.

We also treated a lot of chronic issues such as hypertension, diabetes, etc. which was at times frustrating because if they had access to a primary care physician sooner, their problems would have been more controlled. With limited access to resources and considerable financial constraints, most patients came to us when their disease was very advanced.

Most people in the village don’t even have access to running water or electricity coupled with very little help from their government. In the United States we see what our government does for society in terms of health care and education. When you go abroad, you see what can happen without that support and it is very disheartening. In Uganda there is no public school system and most of the children don’t have adequate access to education.  To help a group of people you need to address both education and healthcare. Without addressing both, you can’t help a group of people.

Do you have any advice for current students interested in medical school?

I took opportunities in school that made a difference in the community and that has made a difference in my path. I volunteered because the concept of helping others was paramount in my life. Becoming a healer was my ultimate goal. However, getting into medical school was really difficult for me. I was rejected by a lot schools, but I took the initiative to reach out to the school I really wanted to go to, and let them know how interested I was, and I got in. Be open to where life may take you and you will be pleasantly surprised. When one door closes, another one will definitely open.

BHP Student Spotlight – George Chidiac

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BHP Student Spotlight – George Chidiac

BHP freshman, George Chidiac, made his way to Austin from El Paso. As one of only a small group of El Paso students to come to McCombs, he has had to make new friends here. BHP has been a great place for him to make friends and UT and McCombs have allowed him to learn about and explore new areas of interest. We sat down with him to find out more about what his first year here has been like.

Why did you decide that the BHP was right for you?

I knew I wanted to do business wherever I went to school and I really wanted to live in Austin. BHP has a very strong reputation, so that was a big selling point for me. I made my decision during Discover BHP. When professor Prentice spoke to us about the program, particularly about the quality of the professors, it really sold me on the program. The student culture here is very supportive and very laid back; students know their peers are good and it turns into a collaborative effort to succeed, rather than being cutthroat.

What has been most surprising about the BHP so far?

There is so much about BHP that I didn’t know. The access to all the resources is amazing. People want to help you and they go out of their way for you. For example, I want to go the entrepreneurial route, and have been able to have discussions with the current McCombs Entrepreneur in Residence about what I would like to. I also have John Butler for a class, who has started many companies and has extensive experience in entrepreneurship. They are helping me find an internship and are also teaching me about starting my own business. Also the upperclassmen in BHP really mean it when they say they want to help you. They have recommended classes and professors to me, which has been really helpful.

What has been your favorite class this year?

I would have to say my class with John Butler. It is called Innovation and Entrepreneurship. Being an entrepreneur is like being a pilot. You don’t just jump into a plane and start flying; it’s all about educating yourself beforehand. This class is teaching me about everything and why it works and why it doesn’t. That is giving me the tools to take my own ideas and test them. Dr. Butler is also very funny and super confident. He really knows his stuff and it is very reassuring to know that you are being taught by someone who is so knowledgeable. The books I have for many of my classes this year were actually written by the professors teaching me, so I know they are experts and that is really great.

What organizations and activities are you involved in?

I am involved in HBA, Young Life, BHP Steering Committee, and am pledging a fraternity. HBA does an event called “Dinner With a Professor,” and through that event, I was able to meet the professor I will have this summer when I take part in the BHP study abroad opportunity in Argentina. The social events for HBA involve all the classes, so I get to meet other BHP students outside of my class. I came here not really knowing anyone and it has been nice to have support from people in BHP and the other organizations I am involved in.

What do you like to do for fun in Austin?

I love dancing. I didn’t go dancing before I came here. A group of friends were going country dancing to Midnight Rodeo and I went with them and really loved it. I am hooked now and am actually taking a social dance class, which is a mix of all styles of dance; two-step, tango, east-coast and west-coast swing. It has helped me get out of my comfort zone.

As a freshman in the program, you were assigned a peer mentor. Was that relationship valuable to you?

Ben Rogers is my peer mentor and he has been great. He has taken me to restaurants around Austin for fun. We became good friends. He showed me around Austin and has always been there to answer any questions that came up for me. It was nice to know that I had access to someone who has done it already. He has been a peer mentor for several classes of BHP students, so it has also helped me bond with other students who had him as a peer mentor as well.

How do you think the funds from BHP alumnus, Woody Hunt’s, El Paso scholarships will affect students in the West Texas region?

The gift he made isn’t just important because of the money. It is actually bringing a much needed emphasis on UT to the region. A lot of the really gifted kids in El Paso leave and never come back, or they just aren’t challenging themselves like they need to. I think that if more El Paso students came to UT, they would be more likely to stay in-state and maybe go back to El Paso after graduation. The Hunt gift will be able to take money off the table of factors being considered when students are deciding. A lot of students are deterred by the costs since other schools are offering them scholarships. With a scholarship to BHP, they can really consider their options. This is a statement to students showing that we are going to reward those who are working hard, so work hard and challenge yourself. I wouldn’t have been able to come to UT if it weren’t for people who supported me both financially and personally. Help goes a long way and I think his help in the form of scholarships could be quite far reaching.