More than 800 graduate during Fall Commencement

Fort Worth, TX

12/16/2006

TCU today bestowed degrees on more than 800 students from its August and December classes, graduating students from 33 states, including Texas, and 23 countries in a formal ceremony held in Daniel-Meyer Coliseum. Students received their diplomas from Chancellor Victor J. Boschini, Jr.

Robert J. McCann, executive vice president of Merrill Lynch & Co., Inc., and vice chairman and president of the firm's Global Private Client Group, delivered the commencement address. McCann received his MBA from TCU's Neeley School of Business. His remarks follow:

“Thank you, Chancellor Boschini. Distinguished honorees, trustees, faculty, staff and alumni. To the class of 2006 — their family and friends — as a graduate of Texas Christian University — I am both honored and humbled to be here today. To be invited to speak at this commencement — at this University that has played such an important role in my life.

This is your day. You have reached an important milestone — and as you look to the future, you should be very proud of all that you have already accomplished. To the parents and families who are here today, well done. Your love, sacrifice and dedication has brought your sons and daughters to this auditorium. They could not have done it without you.

The truth is we all rely on someone, and for me, it's my wife, Cindy, who is a constant source of love, sound advice and keeping me grounded. When I mentioned to her that I would be speaking at this commencement and how proud I was to have the opportunity to offer the kind of advice that all of you will remember the rest of your lives - she looked at me, as only she can — slowly shook her head and said:

'Bob — that's very nice. Just let me remind you one thing about commencement speeches. Those students are excited about graduating. Nobody is going to remember a thing you say — so keep it short.'

Although Cindy couldn't be here today, in deference to her unbridled faith in my oratorical abilities, I will try to be brief.

A few weeks ago I was traveling in the Middle East on business. We flew into Riyadh, Saudi Arabia at six in the morning. As I stepped off the plane the pilot mentioned that the temperature was 109 degrees. As the heat hit me, it reminded me of my first trip to Fort Worth. It was the summer of 1980 — the hottest Texas summer on record and I had driven more than 1200 miles in my used Chevy Citation to pursue my MBA. I was proud of that car if was my first car but it had one near-fatal flaw — no air-conditioning.

But I managed to survive — and thrive here in Texas.

It's a long way from being a graduate student in Fort Worth to flying into Saudi Arabia on business. I tell you that story not to show you how far I've come, but to show you how far you can go. I never dreamed of how far a TCU degree would take me.

I went into business — but I think I would be saying the same thing, if I had studied in the divinity, education, fine arts or any of the outstanding programs offered here.

Because what TCU gave me was much more than a diploma to hang on my wall.

It gave me a foundation for my life — both professionally and personally — to begin what has been a wonderful, challenging and rewarding journey.

I have to admit being back on campus brings back a lot of memories — how I got here what I learned and it occurs to me that throughout life there are specific moments and times that looking back you can really see as turning points.

I grew up in a small town outside Pittsburgh called Plum Borough. It's a close-knit, working class community. My father was a printer and my mother worked in a local department store. It was through their hard work and sacrifice that I was able to attend Bethany College in West Virginia.

And one of the first turning points I remember was my decision to attend graduate school at TCU. It happened almost by accident. I had planned to go to Duke. But I met a man at Bethany who pointed me in a new direction. That man was Dr. Bill Tucker, the former Chancellor of TCU, who at the time was president of Bethany College. I admired him greatly — so when he encouraged me to consider TCU, I took his advice.

Looking back, it was one of the smartest decisions I ever made. At that point in my life, I was looking for a change. I had a great experience at Bethany and I received a first-rate education but I wanted a new challenge a new adventure and at TCU, I found that.

So without question, coming to TCU was a turning point.

An educational turning point — yes — but more than that a turning point in perspective, experience, and exposure.

I fell in love with Fort Worth — the people, the lifestyle, the great family environment. I'd never lived farther from Pittsburgh than West Virginia -- so for me, the Dallas Fort Worth Metroplex was the most cosmopolitan, sophisticated, diverse community I had ever been part of.

At TCU, I was challenged, enthused and inspired by the curriculum, by the professors. People like Dr. Stan Block who lives and breathes TCU's core mission:

To educate individuals to think and act as ethical leaders and responsible citizens in a global community.

With our faculty's help and guidance I gained a world-view that was second to none.

At TCU, I got a great education. I made life-long friends. I was toughened up by the heat of Texas summers and by the BBQ at Angelo's.

I met a number of people who played critical roles in getting me started in my career.

And when I packed up my U-Haul and headed to New York, I had the knowledge and the skills to succeed. TCU gave me a foundation for my life, both personally and professionally. More than anything else, TCU had given me confidence.

I didn't know a single person in New York when I moved there in 1982 and yet, I never doubted myself never questioned my ability to succeed in business to build a career on Wall Street. And TCU was a big reason why.

And today — each of you should have that same sense of self-confidence. That same sense of possibility. You've earned it. Your time at TCU has prepared you to go out in the global community and lead in a responsible way.

When I came to Merrill Lynch, I was fortunate to find another great environment that challenged me — an environment where I had the opportunity to continue learning and growing.

I began my career as a trader at Merrill Lynch — working grueling hours looking for the next opportunity and that hard work paid off.

One of my first management jobs was overseeing part of our equity trading desk. It was fairly early in my career -- I was young and eager to make my mark and prove that I was the right person for the job.

And there's one incident I will never forget. Now, just to give you some context -- trading floors on Wall Street are chaotic — lots of yelling and screaming. One morning a trader who worked for me made a mistake — and I lost my temper and took it out on him in the middle of the trading floor. It just so happened that my boss' boss was visiting the floor and witnessed my behavior.

The next day, he cared enough to call me into his office and gave me some advice not as a boss, but as a mentor. He said that I didn't need to yell in order to be heard -- that people would listen to me more, and respect me more if I never raised my voice. Without question, this was another turning point.

It was an important lesson — one that I have taken with me my entire career. He was right — if you want to be respected, you need to treat people with respect. I didn't need to yell to be heard. In fact, I would be heard more clearly and would be much more effective if I kept my cool.

Because in business, as in life, you're ability to communicate with others is critical.

You need to earn their confidence lead boldly but build consensus -- you want to bring people in, rather than push them away. By being an effective communicator, you can also create a good reputation for yourself.

And in life, your reputation is everything —you have to build it carefully and protect it fiercely. From that day forward, I conducted myself very differently. I worked hard, and led by example all the while, doing my best to bring people in -- to help them grow to be the kind of leader that I wanted to be -- aspired to be. And not just in the office, but outside the office as well.

Cindy and I have two beautiful daughters whom we love very much. We have tried to be the best parents possible — give them the best advice, the best guidance and our love. A few months ago, my older daughter Meredith left for college. It was another turning point — one that reminded me of what is most important in life.

Watching Meredith as she walked into her dorm, I couldn't help but wonder what this experience was going to be like for her. What was she going to major in, who was she going to become friends with, what path would she take in life. Yet, in my heart, I knew that no matter what she studied her successes would be our successes, her challenges would be our challenges and her joys would be our joys because we are a family.

My work has always been important but my family has always been more important. But trying to find the proper balance between the two is a constant challenge.

As you build your careers, look at your life in total, not just at the title on your business card. Family, friendships, what you give back to the community — those are the elements of a rewarding life. Today, each of you embarks on the next phase of your journey armed with the same outstanding TCU education that has been so instrumental in my career.

And each of you will come upon your own turning points, your own moments of clarity and direction. If I can leave you with one more piece of advice, it would be:

Have your own definition of success — not your parents or your friends. Success is defined in the heart of each individual and realized in the accomplishments and actions associated with each individual life.

But although the definitions are infinite there are elements of success that are constant -- immutable. You have to stand for things in your life and your career that you are proud of. You have to operate with integrity and honesty. You have to set high standards for yourself — and work hard to meet those standards.

My favorite Irish author, W.B. Yeats, once wrote 'Education is not the filling of a bucket — but the lighting of a fire'.

Today, I hope that fire is burning brightly in all of you. It will light your way. Your education is not ending - in fact - it is only beginning.

Twenty-five years from now, one of you may find yourself stepping off a plane in Saudi Arabia, teaching in Chicago, raising a family in Dallas, or building houses in Tunisia.

But no matter where you are, make sure you can say to yourself, I'm proud of what I've become, who I am and what I stand for.

Then, however you define success, you will know that you have achieved it.

Thank you for letting me be part of this special day. Congratulations and good luck.”