John Hackney ’04 grew up in Charlotte, N.C., at a time when the big banks were changing the skyline. Watching them rise gave him an interest in finance, business and banking.
Now he’s back in one of the tall, glass and steel buildings, and he’s not alone. Hackney, director of Wells Fargo Securities Energy and Power Investment Banking, works a short elevator ride from Matt McCoy ’97, managing director of Wells Fargo Net Lease Capital Markets. They also volunteer together as members of Wofford’s Investment Advisory Committee (IAC), using their expertise in the field to manage and grow the college’s endowment.
Hackney works with energy and power companies to raise money in capital markets and make strategic decisions regarding the buying or selling of businesses.
McCoy works with corporate clients, using the Wells Fargo balance sheet for debt financing and select equity investments.
Their jobs are demanding and often involve travel and irregular hours. They both have young families. Hackney and his wife, Tara, have two daughters, Reece (4) and Quinn (4 months). McCoy and his wife, Jeannette Pruett McCoy ’97, have three boys who are all into sports: Pruett (9), Matthew (7) and Wyatt (5).
Still, when Wofford called and asked them to serve, they agreed without hesitation.
“It was an easy yes,” says McCoy, who has served on the committee for the past two years, and this year also is serving as chairman of the Terrier Club Board of Directors. “Every member of that Investment Advisory Committee is busy, but as Ed Wile ’73, IAC chairman, is quick to point out, growing the college’s endowment is one of the most important things any of us can do. What better way to give back?”
Hackney, the newest member of the IAC, agreed to serve because he believes he’s where he is today because of Wofford College.
“Wofford’s professors invested in me, so I’m honored to give back in appreciation,” he says. “It’s also enjoyable, and it feels good to know that what we’re doing has a big impact.”According to Hackney, one of the IAC's chief missions is to help establish responsible investment policies that will make the most of Wofford's resources. He believes doing so will give Wofford alumni, parents and friends the confidence to "contribute their hard-earned money" to support the college's mission.
Hackney and McCoy both believe that the college's endowment balance sheet speaks for itself.
Since 1997, $143 million of the college's $180 million endowment is the result of the IAC's managed endowment performance. R. Michael James ’73, a current member of the college's Board of Trustees (second term), is considered "the father" of the IAC. He served on the IAC from its inception in the early 1990s until 2012.
"President Samhat likes to say that there's no downside to a big endowment, and he's right," says McCoy. "If you look at everything under Wofford's umbrella, it's remarkable what we've done and can offer with the current scale of our resources, but we could do so much more if the endowment was twice as large."
by Jo Ann Mitchell Brasington ’89