Sometimes, opportunity is merely a function of exposure: An introduction to a path of possibility that hadn’t previously been under consideration.
Having benefited greatly from a family connection to the financial services world early in life, our Co-Founder, Wendell E. Mackey, is passionately committed to opening the eyes of young people.
“I was lucky to have someone around me that I could ask questions of and see in action,” he said of an older cousin who founded an investment firm. “I just never turned back.“
With his sights set on the present and future, Wendell has helped establish our firm as a source of opportunity in its first 20 years of existence, which positions it well for the next two decades and beyond.
“I was a firm believer that if we could get something going and do what was needed so our clients would be rewarded, we can help some folks in the community,” Wendell said. “Yes, we want to create opportunities for underrepresented groups, but it’s more than that.
“Whoever is firmly committed to excellence, we’re going to create the opportunity for them and help them to actualize their career aspirations and make money in the process. It’s a win/win.”
Recently, Wendell shared deeper insights into his career path, Channing, and more.
Eye-Opening Experiences as an Alum
Because I’m active with Howard University, where I earned my undergraduate degree, I see this in students all the time: They’re sitting in these 200-seat auditoriums waiting for something to hit them. An explanation as to why this is all so important. When I break it down for them, their eyes open wide. I get their full attention.
I had the privilege of speaking at Howard University’s School of Business 2024 commencement ceremony and passed along some tips that have benefited me since turning my tassel many years ago.
I suggested they prepare for their professional journey by:
- Developing a set of short and long-term goals for to chart a course for their careers
- Getting two mentors that will serve as trusted advisors for life
- Building a network that will establish their personal brand
- Staying focused and staying strategic on the long-term goals
- Keeping their composure at all times. Staying poised and committed to seeking resolutions to tough situations
- Taking care of their bodies and their minds, as the journey ahead is an endurance test
- Staying grounded with their faith and spirituality
- Helping others along their journey
- Enjoying the journey – and having fun
Wendell E. Mackey receiving an orator award at Howard University’s School of Business 2024 commencement ceremony
Furthering Exposure to the Profession
These students and graduates get it. They want people to tell them what it’s going take and what skill sets they’ll need. After I talk with them, they’ll often thank me and say things like “I didn’t realize that there are all these variables. But this is what I need to do and you crystallized that for me.”
I’ve been on the board of Howard’s business school since 2017, and in talking to the Dean early on, I learned that one of his priorities was to get some type of Bloomberg capabilities within the school. I investigated to see how we could make this possible. With a personal donation from me and one from the firm, we were not only able to get Bloomberg terminals installed but also fund scholarships. We continue to work with Howard and to contribute to scholarships.
We’ve also committed to a summer intern program, which we started from scratch six years ago when a Howard professor asked if I knew of a possible summer internship opportunity for a talented student. Although we didn’t have a structured program, we brought the student in and put her to work. We assigned her to projects with senior-level people so that she could walk away from the experience with something real to show and could say “this is what I did with exposure to CEO and CFO decision makers.”
We huddled up afterwards and agreed that the internship worked so well we had to keep it going. In a firm as small and diverse as ours, interns get a chance to see and do so much. They get a chance to be on the firing line and part of the decision-making process. I believe, if you put enough people into the workforce with this type of experience, those blessings will come back to you.
While we started with students from Howard University and other Historically Black Colleges and Universities, we’re now taking students in the Chicago area. We just want to help. So, people reach out to us, we talk to them, and if it’s a good match, we bring them on as interns.
A Diverse Mindset Across the Firm
We don’t talk about this as much as we probably should, but as an investment firm, you’d be hard pressed to find a firm is diverse as ours. We know good people when we find them—we look for loyalty and stickiness. We’re especially proud of the women at our firm, many are in leadership positions and doing an incredible job.
Wendell E. Mackey speaking at Howard University’s School of Business 2024 commencement ceremony
Family Ties Led to an Aha Moment
I have an older cousin who went to undergrad at Carroll College in Waukesha, Wisconsin. He later earned his Ph.D. and was also in the investment business. He and his business partners did a really good job of getting the firm off the ground, building a brand identity, and developing some great relationships.
Fortunately, as my cousin built up this successful business, I was able to watch and ask questions. I’d ask to tag along to meetings and he was always more than happy to oblige. That experience opened my eyes and sparked my interest. No sooner than a year-plus after I got out of Howard, I was ready to go to business school.
How Channing Came to Be
I also benefited from having a long relationship with Eric McKissak, as he was a huge contributor to the founding of Channing and served as the conduit between (Co-Founder) Rodney Herenton and myself. I initially knew Eric as a friendly competitor. His firm was much bigger than the one I was at—but we both loved Chicago, the business, and were disciples of the Buffett strategy. So, we’d periodically get together to talk shop.
Our intellectual conversations got a little bit more amped up when Eric decided it was time to strike out on his own. It was perfect timing for me. I was living in New York and I also felt it was a good time to do my own thing. To do it in my hometown of Chicago was a bonus.
Eric introduced me to Rodney and we immediately hit it off. One of the common denominators Rodney and I talk about to this day is that we went to rival schools. My undergrad was at Howard University. His was at Morehouse College. That fueled a friendly kind of antagonistic relationship of the two institutions. But there’s also much respect between us and, in some ways, I feel like we’re brothers.
A Downtime Appreciation for Passion
I love music, especially live music. Seeing people practice their craft and make people happy is priceless. I’m also becoming a bit of a novice art collector. And I do mean novice. A friend introduced me to collecting and when I started meeting artists and hearing their stories, I was hooked. How these people think, got into their craft, and the passion that they deliver is so cool. The visual appeal of a piece of art is what initially draws me in, but I admit I’m an even bigger sucker for a piece of art if I’ve met the artist, especially those who aren’t yet widely known.
Past Guidance a Foundation for the Future
There’s a saying that I draw from every day – a quote from billionaire businessman Edward Lampert: “The entrance strategy is more important than the exit strategy.”I often have people coming to me with ideas in all parts of my life, but I always do my homework. You cannot make flippant decisions. You need to involve all the constituents and think about all the variables. You could still be wrong, but if you’ve stuck to the purity of practicing the craft the way it should be, being wrong is okay. Being sloppy is not. It's a lot of hard work and you can't fool yourself into thinking that it's easier with shortcuts. It’s just not.