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Phil Darivoff,
W'79, WG'85
By Elisa Ludwig
The medieval rabbi and
philosopher Maimonides
wrote that we might anticipate
charity by preventing
poverty. Teaching someone
a trade, for example, can
prevent poverty and, in
turn, the need for charity.
For Phil Darivoff (W'79, WG '85),
whose grandparents came to America
from Russian and Eastern Europe to
find greater opportunities for his generation,
these words have personal
significance. Indeed, they are a guiding
principle in his professional and
philanthropic life.
"I often think about what we Wharton graduates do
when we succeed, and the leveraged contribution that a
successful business person can make to our society," says
Darivoff. A partner and managing director at Goldman Sachs,
Darivoff has made his own contributions through a consistent
and active commitment to Wharton.
Darivoff was himself introduced to Wharton by a likeminded
alumnus, Morris Nunes, C'70. Nunes encountered
the teenage Darivoff in a Fairfax, VA, hardware store and
suggested that he consider applying to Wharton. Darivoff
took this passing advice to heart, and enrolled in 1975. As
an undergraduate, he met his wife, Betsy Marks Darivoff,
C'79, discovered a passion for finance and decided to pursue
his MBA. "Wharton was absolutely a transforming opportunity
for me," Darivoff says.
After graduation, Darivoff joined Goldman Sachs as
an associate in mortgage securities, a job he believes he
would not have been offered without his Wharton degree.
"When I came into the firm I understood corporate strategy,
which allowed me to think more like a senior executive
than a technician," he says. Two years in, he was
promoted to vice president. Today, in addition to his roles
as partner and managing director, Darivoff is chairman of
credit capital markets.
Darivoff's interest in philanthropy developed in tandem
with his career. "I got to a point where I looked back and
reflected on the initial sacrifices of my parents and grandparents
and the great opportunity I had been given to go
to Penn and Wharton," he says. Darivoff has been offering
the same opportunities to others by leading Goldman Sachs'
recruitment effort at Wharton for nearly a decade. He currently
sits on Wharton's Board of Overseers and serves as a
co-chair for the 20th reunion of his MBA class.
In addition, the Darivoffs have recently honored their
grandparents by naming a study room in their honor in Jon
M. Huntsman Hall and endowing the Rebecca and Morris
Marks Professorship in accounting. Darivoff sees all of this
as part of a larger effort to "anticipate charity" and encourage
others in the business community to give back. "It is
difficult to repay the people who have helped you, except
by honoring them in some way, and in doing so, you hope
you can also help others."
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