Michael Borys , MBA ’79

Vice President, Goldman Sachs

Economics, political science, sociology, psychology and business – Michael Borys started his education at UAlbany with a variety of courses. “I liked my business course and fell in love with economics.”

Out of class, he took the time to enjoy theatre on the weekends and Sutter’s for beer and burgers. Billy Joel, Randy Newman and Robert Klein played UAlbany while Borys was in school. He also met his wife Barbara, a Spanish major, during the first week of freshman year; they lived in the same dorm on Indian Quad and shared 8:00 a.m. classes together five days a week during their first semester.

The well-rounded student completed a dual degree in economics and business, immediately took the GMAT and stuck around for another year to complete his MBA. Borys said that Professor Ron Forbes fostered a long stream of students who chose municipal finance. “You had a credential as a student of Forbes allowing you to get your foot in the door.”

As a result, the young MBA went straight from the classroom to an associate position at Lehman Brothers Kuhn Loeb in 1979. During Borys’ 11 year tenure, Lehman was acquired by American Express, becoming Shearson Lehman/American Express which then took over E.F. Hutton. He notes, “It was more fun to be the acquiring company.”

When there were severe cutbacks to Shearson Lehman Hutton in 1990, it was necessary for Borys to lay off many of his staff of 20. He remembers being on vacation and having to call an employee to tell him that he no longer had a job. “My job was secure but it was no longer fun.” He left for a position at Goldman Sachs. Borys said, “I’m not someone who changes easily, but I wasn’t giving up anything.”

“I’ve always been in the quantitative side of business.” Ever the number guy, Borys became the Head of the Quantitative Group for Goldman Sachs’ Municipal and Infrastructure Finance Group, the internal consultants who help bankers structure their deals.

He and Barbara have two children. Alexandra will graduate in May from the University of Mary Washington in Virginia; she hopes to pursue a career in photography. Gregory is high school junior who wrestles and practices karate, and is hoping to pursue a finance career…maybe on Wall Street.