Rhoden Monrose '05 left his job at Citigroup to found CariCorps, a company which has the mission of building a more socially responsible Wall Street, starting from the bottom. CariCorps will achieve this goal by recruiting and training socially-conscious Millennials seeking careers in the banking industry. The holistic training program covers everything from finance and accounting to ethics and corporate governance. Rhoden's hope is that these future leaders will eventually advance to be in positions that will allow them to transform the industry.
Several of the elements of the CariCorps training program echo principles that we have at Middlesex. For example, Mindfulness, a program championed on the Middlesex campus by Doug Worthen '96, is also central to CariCorps mission of creating socially conscious, self-aware professionals. Several recent articles show that Mindfulness is now being taught in business schools, and Rhoden is certainly on the cutting edge of this unique business approach.
Rhoden was inspired to start CariCorps by his own path through life. Growing up in St. Lucia, Rhoden saw firsthand the effects of social inequality on society. After coming to Middlesex, Rhoden attended Trinity College in Connecticut, and then accepted a position working at Citigroup. Working through one of the most turbulent economic periods in the country, Rhoden saw the enormous effect that a few irresponsible people had on the entire banking industry, and he left his position at Citigroup determined to come up with a practical and sustainable solution to the problem. Whereas the industry has attempted to revitalize itself with top-down approaches, CariCorps' strategy is innovative in that it is taking a bottom-up approach.
In addition to improving corporate citizenship within the banking industry, Rhoden believes that banks will benefit from individuals with high emotional intelligence and greater social awareness because these professionals have the dual capacity of cultivating a culture of long-term, sustainable profitability while also having the foresight to avoid making the catastrophic decisions which lead to both financial and reputational damanges against their employer and the broader financial service industry.
Written by Anonymous (not verified) on November 18th 2013