Economics Spotlighted Student: Spencer Sapir '23
Stemming from his work as an intern at the Royal Bank of Canada, Spencer’s thesis examines variables that affect company’s decisions to raise money through equity offerings.
As Captain of, and mid-fielder for, Haverford’s lacrosse team, the sport has always played a substantial role in Spencer Sapir’s ’23 life, ever since middle school.
Originally from Baltimore, MD and now from Chapel Hill, NC, when visiting colleges, he looked for strong academics, a small student body, close working relationships with professors, and of course(!) playing lacrosse. He was drawn to Haverford’s proximity to a metropolitan city, which has given him the added benefit of visiting Haverford classmates who’ve graduated and stayed in the area.
Spencer was aware that Haverford doesn’t have a business or finance major, but he knew the economics department’s outstanding reputation could give him the career path he’s aimed for. Majoring in Economics was always his plan, and he was excited to enroll in the broad range of class offerings.
Because of his interest in business, Spencer gravitated toward the corporate finance class taught by Prof. Shannon Mudd. Additional departmental highlights include Prof. David Owens’ Analytical Methods for Economics and Prof. Carola Binder’s Junior Research Seminar on the Federal Reserve. Spencer has never left an economics class bored or uninspired. His experience has been that the department is “awesome”, and the Professors are exceptionally dedicated to their research, and to their students, and he has found the faculty consistently go the extra mile.
His thesis advisor, Prof. Alberto Arredondo-Chavez, has been a guiding mentor, fully accessible and invaluable to the process. Stemming from his work as an intern at the Royal Bank of Canada (RBC), Spencer’s thesis “examines variables that affect company’s decisions to raise money through equity offerings.” “Overall, the focus of [his] paper is to see how changes in market volatility affect the frequency and total value of public equity offerings across different sectors. Further, it will evaluate the different effects pertaining to IPOs and follow-ons as well.”
Summer internships have enriched Spencer’s education and work experience. The summer following his Junior year he interned as an analyst in the Global Investment Banking sector of RBC, in New York City. He collaborated with colleagues versed in all levels of knowledge, of all ranks. RBC offered an encouraging work-place environment where everyone was willing to help and to mentor. What stands out is the unusual and unexpected display of kindness and cohesiveness.
He has accepted a full-time position with RBC in New York City. Congratulations Spencer!! He will be working with the equity capital markets sector, starting in August. He’ll be guiding companies that want to raise money publicly through equity. His team consists of 25-30 people, affording him leadership opportunities. The position exposes him to a variety of industries including health care, energy, technology, and more.
Spencer serves on the student led Impact Investing Board. Alongside other members, he helps manage the portfolio. He’s also taken a lot of classes in the music department and he plays the trumpet and the baritone horn. He has a passion for music theory, reading music, and learning about the rules that are applied to different styles and types of music.
Before starting his “adult job” in August, after graduation Spencer is returning as a camp counselor to the wilderness summer camp in Maine where he’s participated for years.
