"Go to the best school you can and get a diversified education. If you are going to major in finance as an example, be sure to study non-finance courses, and always remind yourself to be the best you can be."

Passing the Torch
After 5 years as Chairman of the Jefferies Family Scholarship, John Shaw, Former President of Jefferies, passed the torch to co-chairs Paul Deninger and Jim Carmack in May of 2007. During John's term, he focused on implementing more structure throughout the organization—setting term limits on all positions and increased the effort to raise money annually. Under John and the board's guidance, the amount of money given for scholarships was significantly raised, as well as the overall amount in the scholarship fund.

John feels honored and proud of his five years as the chairman of JFS. The most significant achievement was the level of funds raised during his tenure. The one thing he struggled with was to raise the level of awareness of the program within the firm. "It was hard to penetrate the Firm's awareness of the program therefore we weren't successful at increasing the number of applicants."

He feels the program is an extremely valuable extension of the Firm. "The program strives to reflect a quality of caring that goes beyond corporate structure; it takes it to another level." As the firm has grown, it has never stopped maintaining that one firm, family feeling, which is reflected in the family scholarship program.

"I think five years is enough time to implement policies and views and time to turn it over to someone else who can take it to another level," says John. He is confident that Paul and Jim will bring creative new ideas and perspective to the program and is optimistic that they will also bring the same energy and dedication of past leadership.

Close Friend of the Founder
John saw the program evolve through the years. "When Boyd Jefferies first started in it memory of his son, Stephen, he relied on friends that were in the industry to be on the Selection Committee and the Board of Directors," says John. "Today the size of the award and the size of the Firm have increased significantly, and the board has changed from a small social group of friends to a bigger group of professional friends and colleagues."

When asked what he misses most about his position as Chairman, John says the excitement of the parents when they heard the news that their child has received a scholarship award, and the constant contact with other board members, selection committee and JFS staff.

A Successful Career
John graduated from USC in 1968 with a BA in political science. He sat for the California bar exam in 1974 and has been an inactive member since 1975 when he began his career in the brokerage industry. He began at Jefferies in 1983 as an Account Executive in the Chicago Office. He worked his way up to National Sales Manager, and eventually assumed the role of President in 2001, working alongside current Chairman and CEO, Rich Handler. Under Rich and John's leadership, the Firm really began to flourish. Working in the Chicago, Boston, and New York offices afforded him the opportunity to get to know a vast majority of the firm. He retired in 2005 to spend more time with his family, but often misses "the camaraderie and excitement that is inherent in the operation of the brokerage firm. Jefferies is all about the people."

Rewarding Generosity
John supports the Catholic Church, St. Francis High School, Levitt Pavilion, Westport Play House, and Ability First. His generosity does not stop at charities, he also provides for family, friends, and those in need. "There's an old saying—what you give comes back to you ten fold—and in my life it's come back 100 fold."