"It's an extremely competitive world, school is important but it is important to represent yourself 100% all the time—education is not the end, it's just the beginning."

Twenty years with Jefferies
Jim Carmack, Co-Chair of the Jefferies Family Scholarship, has been a Board member since 2005, is Co-Head of Equity Sales in Los Angeles, and joined the board after being asked by the previous chairman, John Shaw. As an employee of Jefferies for over 20 years and a close friend of the late Boyd Jefferies, Jim was honored to become a member of the board. Jim worked with Boyd for four years, and refers to him one of the most driven men he has ever known. "All he cared about was Jefferies, the stock market and treating everyone, from low to top positions, equally—he wanted to make Jefferies a place you could work at forever," says Jim.

Valuable insight
As Co-chairman, Jim's goal is to grow the program, to get more applicants and make sure that every child that needs help gets the opportunity. Jim has seen the impact the program has had on so many lives. "Through meeting and speaking with the recipients I clearly understand the significance it has on their lives," says Jim. Sharing the chairman position with Paul Deninger will bring new insight to the program. "It will get a fresh, broader look at the program, get more people involved and be more inclusive to all parts of the firm," says Jim. He feels that Paul brings a new energy and perspective as a relative newcomer to the program and part of Jefferies for only a few years. "Paul is a pillar of Jefferies' investment banking division, is a tremendous motivator, and has great instincts for identifying organizational challenges and opportunities," Jim explains.

Jim's experience with the program has touched him emotionally. "It is truly an honor to deliver the good news to recipients—it is a wonderful to experience their excitement and happiness," says Jim. Jim has seen the evolution of the scholarship program as well as that of the Firm. "In the last eight years, the firm has exploded in size—becoming a multinational firm with 2,500 plus employees," says Jim. With this growth, he predicts the needs of Jefferies employees and their children will grow exponentially and that the scholarship program must grow and adapt with the firm to meet the challenge of increased demand. He has high hopes for the future of the scholarship program and credits the people involved for its current success.

In good hands
The mission of the program is to provide scholarships to Jefferies employees children on a financial need basis. "It fits into the Jefferies culture, it was Boyd's dream to take care of employees," says Jim. As co-chairmen, Paul and Jim, plan to expand the application pool. By law 25 percent of the applicants can be awarded, so the more applicants the more scholarships Jefferies will be able to give out. They hope to accomplish this by reaching out directly to those who have the opportunity to apply. Fundraising is always a challenge, but he feels the Jefferies Family Scholarship is in good hands.

Beyond JFS
Outside of Jefferies Family Scholarship, Jim is also on the Board of Catholic Big Brothers Big Sisters, an organization dedicated to helping young people reach their potential through one-to-one mentoring relationships. The organization has mentored countless young people and made a tremendous difference in their lives.