Does a Yale or Harvard Education Really Matter These Days?

Does attending Yale or Harvard prepare you for a successful career? Sure, but that’s by no
means enough. You need to couple that education with purpose and ambition. For example, Bill Mulrow graduated from Yale University and then enrolled at Harvard University to pursue a master of public administration at the John F. Kennedy School of Government. He used that training and his own drive to become one of the country’s leading experts in public- and private-sector finance and investment banking.

He’s been joined by other noted graduates of the Kennedy School of Government, including actress Ashley Judd, television personality Bill O’Reilly and the late William Proxmire who served for 32 years as a U.S. Senator. Clearly, Judd, O’Reilly, Proxmire and Mulrow used their education at Harvard to pursue vastly different lines of work—though all proved enormously successful.

This diversity in post-graduate pursuits is supported by the school’s diverse course offerings, which include:

•    Political economy and development

•    Business and government

•    International affairs

•    International finance and trade

•    Housing and urban development

The educational experience at Harvard offers graduate students the opportunity to take courses offered at other schools within the university. Under an agreement with the Sloan School of Management at the Massachusetts Institute of Technology and the Fletcher School of Law and Diplomacy at Tufts University, Harvard graduate students may take courses at the other institutions to earn credits toward their degree.

His years at Yale and Harvard left Mulrow with a sense of obligation toward educational institutions at all levels. Although his work schedule at the Blackstone Group and his public service positions leave him with little time to spare, Mulrow managed to find time to serve as a trustee at Fordham Preparatory School and at the Taubman Center for State and Local Government at Harvard University. He was also a member of the board at the Maxwell School of Citizenship and Public Affairs at Syracuse University.

Putting his education to work on behalf of businesses and corporations is evident from Mulrow’s past service on the boards at Hudson Valley Bank, the United Nations Development Corporation, the Municipal Assistance Corporation of the City of New York, Millbrook Capital and the Federal Home Loan Bank of New York. He has been politically active as a member of the Democratic Party in New York and as his party’s designated candidate for the position of New York State Comptroller.

Tackling the Challenge of Affordable Home Financing

Many professionals would look forward to slowing down after a busy career spanning more than 30 years in the business world. But Bill Mulrow isn’t one of them. He’s still ready to take on new challenges, especially if it means being of service to his state and to his community. In 2012, Mulrow answered the call of the Governor of New York and took on the job of Chairman of the Housing Finance Agency and the State of New York Mortgage Agency to lead the state in its recovery from the recent housing crisis.

His vast experience in finance and investment banking made him the ideal choice to lead the New York Housing Finance Agency (HFA) and the State of New York Mortgage Agency (SONYMA). He brings the knowledge he acquired at the Blackstone Group, Citigroup, Paladin Capital, Gabelli Asset Management, Donaldson, Lufkin and Jenrette, and Rothschild Inc., to help fellow New Yorkers. Now in his second year as Chairman of HFA and SONYMA, Mulrow uses his background from the private sector to help develop programs to create, preserve and finance housing that is affordable for New York residents.

The challenge for the State of New York Mortgage Agency (SONYMA) has been to enable state residents to make the move from tenant to homeowner. When he accepted Governor Cuomo’s appointment to head the Housing Finance Agency and SONYMA, he brought to the position more than 30 years of experience in finance and investment banking in the public and private sectors. As he enters his second year as Chairman, SONYMA programs offering low-interest rate mortgage financing are making the dream of owning new construction or an existing home an affordable reality for New York residents with low or moderate incomes.

As Chairman of the New York Housing Finance Agency, Bill Mulrow also oversees the operations of the state’s Affordable Housing Corporation (AHC). The AHC offers grants to government agencies, charities and other nonprofit organizations to subsidize the construction of new homes or the renovation of existing homes for low- to moderate-income families in the state. The agency’s Affordable Home Ownership Development Program provides the funding for the development, preservation and stabilization of communities in the state by encouraging homeownership. Under Mulrow’s guidance and leadership, the agency encourages home builders to partner with government, charities and other nonprofit organizations.

Political Figure Bill Mulrow Welcomes Next Challenge

With more than 30 years in business, finance, academia and state government, New Yorker Bill Mulrow looks forward to the new challenges coming his way. He currently serves as a Senior Managing Director at Blackstone. Separately, he chairs the New York State Housing Finance Agency and the State of New York Mortgage Agency. Mulrow has captured attention for his work at a number of public and private entities. At one point, he also served as Vice Chair of the New York State Democratic Party and ran for New York State Comptroller.

Honored for Public Service in New York

Westchester County resident Bill Mulrow has been praised for his continued dedication to his community and to the state. He serves as Chairman of the New York State HFA and the State of New York Mortgage Agency, SONYMA. In the past, he has sat on the board of advisors for the State and Local Government Center at Harvard University's Kennedy School of Government and for the School of Citizenship and Public Affairs at Syracuse University. Mulrow's civic and community honors include the Humanitarian Award of the North American Boards of Rabbis, the Roy Wilkins Humanitarian Award of the New York State NAACP and the Civic Leadership Award of the Whitney Radio Group of Westchester County.

Mulrow Starts Second Year at NYSHCR

Blackstone Senior Managing Director Bill Mulrow has completed his introductory year at New York State Homes and Community Renewal. His tenure began on March 19, 2012, after appointment by Governor Andrew Cuomo and unanimous Senate confirmation.

As Chairman, he leads five agencies: the New York State Housing Finance Agency, the State of New York Mortgage Agency, the Affordable Housing Corporation, the State of New York Municipal Bond Bank Agency and the Tobacco Settlement Financing Corporation. Mulrow has held public positions before: he has served on the boards of the Federal Home Loan Bank of New York, the Municipal Assistance Corporation for the City of New York, the United Nations Development Corporation, the Westchester County Industrial Development Agency and the New York City Rent Guidelines Board.

Veteran Investor Shares Talents with the State

HFA/SONYMA Chairman Bill Mulrow is using his expertise as a seasoned investment professional to keep New York's financing costs low and expand economic development within the state. Following his appointment in 2012, he has adopted strategies for crafting, maintaining and funding affordable housing for New York residents. His innovative ideas stem in part from his time at Blackstone, where he functions as a Senior Managing Director for the world's largest alternative asset firm. He has spent 30 years working in and studying various aspects of asset management, investment banking and public finance.

Getting to Know Bill Mulrow

Bill Mulrow has been supporting the people of New York through private entrepreneurship and government involvement since he began his career more than three decades ago. As Governor Cuomo's appointee to the New York State Housing Finance Agency and the State of New York Mortgage Agency, he helps craft affordable housing opportunities across the Empire State.

He also works as a Senior Managing Director at the world's largest alternative asset group, Blackstone. He previously worked in executive roles at Citigroup, Paladin Capital, Gabelli Asset Management, Rothschild Inc. and Donaldson, Lufkin and Jenrette.

Since earning a bachelor's degree from Yale and a Master of Public Administration (M.P.A) from Harvard, Bill Mulrow has continued to expand his knowledge through various academic posts and board positions. He currently serves as Chairman of the Board at Sterling Suffolk Racecourse. In the past, he has chaired New York City's Rent Guidelines Board, the Westchester County Industrial Development Agency and the New York State Democratic Party (Vice Chair). He has also served on the boards of Application Security, Hudson Valley Bank, Millbrook Capital, the Federal Home Loan Bank of New York, Municipal Assistance Corporation for the City of New York and the United Nations Development  Corporation.

His commitment to his region has earned Mulrow several humanitarian awards. When he is not in the office or out in the community, he relaxes with his family. He admits to revving up with the Yankees or winding down with a Dan Brown novel.