Lachlan Byrne at the TD Cowen office in San Francisco, California.
By Olivia Bonsick
UNIVERSITY PARK, Pa. — Lachlan Byrne, a fourth-year economics and finance major from Brisbane, Australia, spent the summer completing an unforgettable internship as an investment banking summer analyst at TD Cowen in the company's San Francisco office.
Byrne’s internship was funded through the Chapel Executive Internship Program, which provides $5,000 to Penn State Liberal Arts students completing full-time in-person internships in the business or private sector. Byrne said he found out about the program through friends.
“I read through the program and thought it was perfect for me,” he said, noting that the internship would not have been possible without the support the Chapel program provided.
“I lived in San Francisco this summer, and housing is very expensive and a big burden there. I didn’t know if I would be able to afford it. [The Chapel funding] took the stress of money off my back and also took the burden off my parents. By not having to worry about the cost of living, I was able to make sure I could focus on doing a good job at my internship, and it ultimately helped me get a return offer.”
While completing his internship, Byrne built a network of contacts and learned the technical and professional skills of the financial industry. He said the skills truly helped him develop as an individual and foster connections that would grow his network.
Lachlan Byrne hiking in Marin Headlands near San Francisco, California, where he spent the summer for his internship.
“I conducted financial advisory for companies valued anywhere from $2 million to $1.5 billion,” he said. “I would make finance models and advise companies on what investments they should make as well as whether or not they should sell their companies.
“The most important thing in the industry is the people,” Byrne added. “It is a very technical industry, and I had to study a lot before, but ultimately the biggest takeaway was learning how to work efficiently with your co-workers and learning how they operate. It’s not about who can crunch the numbers the best but rather who can form the best relationships.”
Byrne said his experience at TD Cowen was unmatched due to the unwavering support from the seniors in the company. He explained that the experienced bankers were always there to listen to his career aspirations and provide resources to help him reach his goals, a feat he had not experienced at any other company.
He said it was Penn State and its alumni network that made him choose to intern at TD Cowen.
“I found out about the company through the Nittany Lion Fund [a Penn State student-managed investment fund nested in the Smeal College of Business],” Byrne said. “I reached out to alumni who worked there and picked their brains to get an idea for what it was like to work at the company. These alumni were ultimately the most helpful and supportive, and really made me want to be there.”
Source: The Pennsylvania State University
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