New York Principals Become “Business Leaders for a Day”


MD Dave McCarthy and Sara Carvajal, principal of Alexander Humboldt School

On a normal day, Sara Carvajal, principal of Alexander Humboldt School in upper Manhattan, might preside over crowded assemblies and eat lunch in a noisy school cafeteria. But she and a few other lucky educators recently spent a day downtown at Merrill Lynch headquarters, where they took meetings, toured the trading floor and had lunch in the executive dining room.

The visits during the week of May 15 were arranged as part of the second year of the "Business Leader for a Day" program, which gives principals a taste of corporate life and operating principles. It is administered by Pencil, or Public Education Needs Civic Involvement in Learning, the New York nonprofit organization that created the Principal for a Day program. Merrill Lynch and many of its employees support the program in U.S. cities.

"There is a tremendous amount of talent at Merrill Lynch, and the Business Leader for a Day program gives the firm's employees another opportunity to share their expertise with the community," said Eddy Bayardelle, president of the Merrill Lynch Foundation. "We are confident the principals will take the team-building and leadership skills they learned at Merrill Lynch and apply them to their schools."

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On May 15, the honorary executives and their real-life counterparts attended a breakfast at a New York hotel and listened to a panel discussion hosted by CNBC anchor Maria Bartiromo. Then the educators shadowed the executives, who played teachers for a day.

Ms. Carvajal spent the day with her school's honorary headmaster, MD David McCarthy, head of the Americas Debt Markets Investor Client Coverage Group, Global Markets and Investment Banking. Mr. McCarthy, who has acted as honorary principal at the elementary school for two years, most recently last October 20, took her on a tour of the equity trading floor, then to a meeting of his team. "I think she got a great feel for our work environment, pace of activity, some of the challenges we face in terms of communications, organizational structure and teamwork," said Mr. McCarthy, who continues his relationship with the school by staying in contact and visiting throughout the year. "Every time I go back, I learn more and can find more ways to help," he said.

For her part, Ms. Carvajal said she was impressed by the teamwork exhibited by Mr. McCarthy's group and by other employees on the trading floor. "I have been empowered to view our school setting through the lens of a business leader and build capacity as such: eliciting the collaborative efforts of a team, employing a visionary approach to leading and valuing the importance of nurturing relationships within the school community as well as with those we serve," she said.

Though the atmosphere at Merrill Lynch is more "sophisticated," Ms. Carvajal said she thinks she'll keep her day job. "It's what I know and love."

Kim Cronin, left, and Joe Zidle, of GPC Investments, with Teresa Caccavale, principal of
P.S. 45 in Staten Island

Also at Merrill Lynch headquarters, MD Kim Cronin, Global Liquidity & Risk Management, Chief Financial Office, hosted Teresa Caccavale, principal of Public School 45 in the New York borough of Staten Island. "We had a great day and discussed a lot of people management issues," Ms. Cronin said. "When leading a group for corporate or education, it's all about motivating and empowering your staff to achieve the best they can in their role."

The two also formed a partnership between P.S. 45 and the Chatham, New Jersey, school system, where Ms. Cronin's children are students. Ms. Caccavale and 12 teachers recently attended a meeting there to share best practices in education.

In addition to her visit to Merrill Lynch, Ms. Caccavale said she values her three-year relationship with Ms. Cronin. "In the past, Kim has taught me a lot about delegating and giving up control, along with simple things like managing e-mails and managing my day," she said. "The Business Leader for a Day program allowed me to reflect on my practices with someone who knows my journey."

John Mucciolo, director of Hunter College Campus School, spent the day with John Sprung, former FVP and assistant general counsel who now serves as a legal consultant to the firm. Mr. Sprung arranged for Dr. Mucciolo to spend some time with some GMI representatives — MD Ed Sisk, of Municipal Markets; Edward Stasen, an associate in Municipal Markets; Vanessa Baker, an analyst in Global Debt; and Director Ben Wolfe, of Municipal Markets' Health Care & Public Finance Group — as well as Specialist Melissa Bevilacqua, of OGC's Debt Counsel.

John Sprung, left, and John Mucciolo, director, Hunter College Campus School

"All of them took time out from their busy day to spend some time with Dr. Mucciolo, explaining their roles at Merrill Lynch," Mr. Sprung said. "Of special interest were Ben Wolfe's perspectives on the challenges of financing for higher education, a specialty of his."

The visit also gave Dr. Mucciolo an up-close look at the business world. "Educators always wonder about what happens on the other side of the fence. Thanks to John's efforts, I was able to get a glimpse of that world," Dr. Mucciolo said. "What impressed me most were the common themes that everyone I talked to shared: intelligence, work ethic, dedication, caring, and a sense of humor."

Jennifer Sutton, a MLIM relationship manager in Princeton, New Jersey, gave a Brooklyn principal a new appreciation of the value of training. "We should fight for that in our school because the business world uses it," Ingrid Thomas-Clark, principal of Intermediate School 232, said later. "It's working. It's important to do it." She said she plans to take the lessons with Ms. Sutton "to help me go through my life and share with my administration, and of course, it will trickle down."

Ms. Thomas-Clark particularly liked visiting the trading floor. "There was so much positive energy. You could feel them working to get their product sales going," she said. "I wanted to trade something."