Keith Anderson ‘81, Vice Chairman and Global CIO for Fixed Income at BlackRock Financial , spoke under the Distinguished Alumni Lecture Series at Nichols on Monday, November 26, 2007. With $1.3 trillion assets under management, BlackRock is one of Wall Street's hottest firms. So hot that it has been selected as manager for the $75 billion fund being created by three large banks to help shore up the market for asset-backed securities in the wake of the sub-prime mortgage crisis.

It is from this perch that Mr. Anderson, a member of National Association for Business Economics, advises Congress on the effect of economic policy on the economy and on how developments such as the current "sub-prime crisis" is expected to play out.

Mr. Anderson divided his talk between his day-to-day work in the bond industry, where he manages a multi-billion-dollar portfolio of investments, and his career. Raised in North Attleboro, Massachusetts, he graduated from Nichols and went straight to Rice University for an MBA. He jumped into the bond market at First Boston. At the time bonds were the less sexy cousin of the stock market, but securitization-the packaging of mortgaged backed securities-had explosive potential, and he never looked back. Anderson, who learned virtually everything about the market, including teaching himself fortran from a text book, was invited to Larry Fink's home to discuss the founding of a new company, which became BlackRock. Anderson noted proudly that of the eight original founders of the storied company, seven remain. It is a tight-knit community, similar to that of Nichols College.

Mr. Anderson imparted gentle wisdom to his audience of finance, economics and accounting majors. Among his advice: seek experiences beyond your immediate environment, travel abroad, go to college in unfamiliar surroundings, it will be a broadening experience. Mr. Anderson also advised students to work professionally between earning an undergraduate degree and pursuing an MBA. He also told his audience that what he loves most is managing money. As a member of BlackRock's Management Committee and Chairman of the Investment Strategy Group he achieves this both by setting BlackRock's investment strategies and pursuing those strategies in his funds.

He held his audience in thrall with his cogent elucidation of the sub-prime scandal, which actually encompasses Alt-A category loans. The crisis has wide-spread ramifications and ripples that have shaken not only Wall Street, but also economists and policy makers.

He left the students with some very positive thoughts by informing them that the best gift Nichols gave him was teaching him "how to learn," stating that this has been an invaluable tool throughout his career. He also mentioned that he continues to share professional relationships and friendships with several alumni and faculty members of the Nichols community.

Mr. Anderson was third in a series of distinguished speakers. Check back soon for the spring forum schedule.