‘Powerful Humility’ Drives Ukrainians to Selflessly Defend their Homeland, says DePaul Alumna Who Served as Ukraine Finance Minister

Natalie Jaresko (BUS ’87), an American-Ukrainian investment banker who previously served as Minister of Finance of Ukraine, delivered a speech at the 15th Annual Consular Corps Luncheon, hosted by The Grace School of Applied Diplomacy at DePaul. | Photo by Jackson Junkin
Natalie Jaresko (BUS ’87), former Minister of Finance of Ukraine, delivered a speech at the 15th Annual Consular Corps Luncheon, hosted by The Grace School of Applied Diplomacy at DePaul. | Photo by Jackson Junkin

Driehaus College of Business alumna Natalie Jaresko (BUS ’87), an American-Ukrainian investment banker who served as Minister of Finance of Ukraine from 2014-2016, returned to DePaul this spring to deliver an impassioned address about the war-torn Eastern European nation.

Jaresko was the keynote speaker at the 15th Annual Consular Corps Luncheon, hosted by The Grace School of Applied Diplomacy at DePaul and its director, David Wellman. The event—attended by consuls general representing countries from around the world, faculty and staff—returned to the Lincoln Park Campus April 28 after a two-year hiatus.

Jaresko began her remarks by referencing the graphic news coverage of the war in Ukraine, which has raised worldwide awareness of both the brutality and heroism that are a daily part of Ukrainian life since Russia invaded the country Feb. 24.

“There is a common thread woven through each of these stories you hear, each of these photos that you’ve seen,” she said. “It is a powerful insistence on a right to self-determination. It is a powerful humility exhibited by each person and each act of kindness, selflessness, strength and unity.

“St. Vincent de Paul said ‘the most powerful weapon to conquer the devil is humility, for he does not know how to employ it and neither does he know how to defend himself from it’,” she continued. “And this is the reason Ukraine must win this war.”

Natalie Jaresko (BUS ’87) was the keynote speaker at the 15th Annual Consular Corps Luncheon, hosted by The Grace School of Applied Diplomacy at DePaul. The event—attended by consuls general representing countries from around the world, faculty and staff—returned to the Lincoln Park Campus April 28 after a two-year hiatus.
The event was attended by consuls general representing countries from around the world, faculty and staff. | Photo by Jackson Junkin

The Ukrainian people, Jaresko observed, “are serving as an example to all of us. They are speaking truth to power. They are putting others first. They are protecting one another and defending their right to self-determination. That right to enjoy their identity, their culture, their history, their language and their nation.”

The determining factor in the war, she said, “will be the will of the people of Ukraine” to defend their democracy.

“Their strength comes from humility…a deep love of their homeland, and from a humble desire to live freely in our own communities, speak whatever language you wish, practice whatever religion you wish, and demanding of ourselves as much as we demand of our leaders,” she said.

The opportunity to speak about Ukraine at DePaul was “a great honor,” Jaresko said, “because this is the school that inspired me to pursue a life of public service.”

Watch Jaresko’s full speech in the video below.

By Robin Florzak

Professor Introduces Students to Fintech Innovations

Finance Associate Professor Lamont Black shares his expertise in blockchain and cryptocurrencies with students. | Photo by Kathy Hillegonds
Finance Associate Professor Lamont Black shares his expertise in blockchain and cryptocurrencies with students. | Photo by Kathy Hillegonds

There is a growing understanding of Fintech’s potential to transform the future of finance.”
– Associate Professor of Finance Lamont Black

Four years ago, Associate Professor of Finance Lamont Black had the foresight to co-host a two-day workshop for business and computer science students on a subject few knew about at the time—blockchain coding. Since then, Black has become one of Chicago’s foremost academic experts on innovations in financial technology, known as fintech, and is frequently interviewed by the media about blockchain and cryptocurrencies.

“This is not just a fad,” says Black, a former Federal Reserve economist who serves as academic director of DePaul’s John L. Keeley Jr. Center for Financial Services. “There is a growing understanding of fintech’s potential to transform the future of finance.”

Black developed and teaches a graduate course focused exclusively on blockchain, the digital ledger technology that underpins virtual money known as cryptocurrencies. The course, taught in partnership with Deloitte and its blockchain lab, explores how blockchain can be applied to different business scenarios, from cryptocurrencies to supply chains and human resources. He is developing a similar course for undergraduate students, who view it as something that could give them an edge in the job market.

“The interest in cryptocurrency a few years ago was among high net worth individuals who were looking for diversification,” he says. “But what we’re seeing now with younger generations and my undergrad students is an interest in cryptocurrency as an emerging asset class and something that is discussed in the popular media.”

An estimated 4,000 cryptocurrencies exist to date. Only a handful, such as Dogecoin and Ethereum, have gained popularity thanks to dedicated communities of backers and investors.

However, earlier this year, the value of Bitcoin, regarded as the first cryptocurrency using blockchain, fell rapidly. One of the causes of its decline was a single tweet sent by Tesla founder Elon Musk, who wrote that Tesla would no longer accept Bitcoin as a means of payment due to its environmental impact. But the falling price can actually have long-term benefits, Black says.

“I’m still very optimistic about the future,” he says. “The price decline has reduced people’s speculative behavior around cryptocurrency and will result in a more grounded and informed perspective. I think it will lead to more sustainable growth in the market.”

As blockchain becomes more mainstream and more integrated with the finance industry, Black says it’s crucial for the business college’s programs to embrace this new trend. “That includes what we teach, what we research and what we’re talking about,” he says. “It’s an opportunity to innovate and teach students about these trends so that when they graduate, they feel like they’re prepared to adapt and stay ahead of the curve. We’re not just teaching them the past, but also preparing them for the future.”

By Jaclyn Lansbery

View the video below to learn more about Lamont Black’s take on blockchain and cryptocurrency.

Accounting Graduate Brews Coffee Business with Soul

Alumna Leticia Hutchins (center) co-founded Alma Coffee with her husband, Harry (left), and father, Al Lopez (right). The business roasts and sells coffee from Honduras, where her family has been farming for five generations.
Alumna Leticia Hutchins (center) co-founded Alma Coffee with her husband, Harry (left), and father, Al Lopez (right). The business roasts and sells coffee from Honduras, where her family has been farming for five generations.


Leticia Hutchins’ four-year-old coffee business has been 500 years in the making.

“My family has been coffee farming in Honduras for five generations,” explains Hutchins (BUS ’16), cofounder of Alma Coffee, a Georgia-based coffee roaster and importer. “For generations that was all my family knew, the farming side of coffee. They never roasted their own coffee to see how it could taste.”

That changed in 2018. Hutchins had a comfortable job as an auditor at KPMG in Chicago, following in the footsteps of her father, Al Lopez, who enjoyed a successful career as a corporate accountant and executive. But something was missing. “I felt like I wasn’t doing my part to make the world a better place,” Hutchins says. “Accounting is super-important and I really respect the industry, but it just wasn’t fulfilling me in the way that I wanted to help others.”

Hutchins frequently visited Finca Terrerito, her family’s coffee farm in the rural mountains near Copan, Honduras, where her father lived until he immigrated to the United States at age 11. She and her husband, Harry, a fellow accountant whom she has known since high school, began to discuss with her father how they could expand the family business and its social impact. They envisioned a farm-to-cup, high-quality, coffee-roasting business managed with socially responsible practices that respect nature and support the community. “We worked on a business plan, and before we knew it, we were ready to take this scary step of quitting our careers to take a leap of faith,” she says. They named the new venture Alma, the Spanish word for “soul.”

Transitioning from bean counter to bean roaster had a steep learning curve, Hutchins admits. She and Harry moved from Chicago to Georgia, where her parents live, to research the coffee industry and roasting technology. After an eight-month search, they found an 8,000-square-foot warehouse in Holly Springs, Ga., to set up Alma’s roasting headquarters.

Entrepreneur Leticia Hutchins and her husband and business partner Harry Hutchins visit the family coffee farm in Honduras.
Entrepreneur Leticia Hutchins and her husband and business partner Harry Hutchins visit the family coffee farm in Honduras.

Today, Alma Coffee has three business segments: roasting coffee sold at restaurants, coffee shops and stores located primarily in the Southern United States; retailing a dozen coffee blends and related merchandise online and at its pop-up café in the roastery; and wholesaling raw coffee beans (aka green coffee) to other roasters around the country.

We worked on a business plan, and before we knew it, we were ready to take this scary step of quitting our careers to take a leap of faith.”
– Leticia Hutchins (BUS ’16)

Hutchins manages Alma’s retail website, marketing and human resources. Her husband oversees their bean-roasting team, sales and logistics, and her father runs Finca Terrerito. She credits her DePaul education in accountancy and management information systems, which included learning computer code, for empowering her success. “Going into the corporate world, I felt very prepared,” she says. “It really helped me build that foundation for starting a business.”

Conducting business sustainably is a core value at Alma Coffee. “The farm is USDA-certified organic, and we use as many coffee byproducts as possible,” Hutchins says, including converting cascara, potentially harmful waste left over from harvesting coffee cherries, into environmentally friendly farm pesticides. Hutchins also invested in a Loring Smart Roast machine, the most fuel-efficient roaster on the market, which produces 80% fewer emissions than conventional roasters.

Hutchins and her family believe in investing in their community, too. The farm provides employment and proper living conditions for 250 coffee pickers in Copan during harvest season. At Christmastime, the family also distributes food baskets and other necessities, including children’s shoes, to nearby families in need. “A lot of times it will be the only pair of shoes that a child will get for a whole year,” she says.

Alma Coffee is ground in a fuel-efficient roaster to promote sustainability.
Alma Coffee is ground in a fuel-efficient roaster to promote sustainability.


Like many family businesses, Alma has faced economic challenges caused by the COVID-19 pandemic. Hutchins responded by building Alma’s online presence. “I spent three weeks redoing the whole website from top to bottom, every single word and photo, updated our subscription program, and began a paid advertising program, which we had never done before,” she says. “Slowly but surely, we began to see the online business grow. In a weird way COVID was a blessing in disguise that pushed us to do things that we didn’t think were possible for us to do.”

Alma has expanded to encompass a second farm, named Finca La Unica, which Hutchins’ father acquired by trading cattle for land. “He came to me and said, ‘Women are very underappreciated in our industry,’” Hutchins recalls. “We need to lead by example, and I would like you to lead this farm and be the owner of it. I think you need to come down to Honduras and teach our community, which is very machismo-driven, that women can own land and successfully lead a coffee farm.” Since then, Hutchins has been busy choosing the coffee varieties to be grown by Finca La Unica and designing farm operations, which will focus on producing a higher yield of coffee.

As Hutchins applies 21st-century business practices to an old family business, she has remained true to the values that inspired her to co-found Alma Coffee. “Our three key pillars are improving lives, sustainability and extraordinary coffee,” she says, “and that’s what we go back to with every single decision we make, whether it’s an investment, a hiring decision or whether we stay late to get one more person’s order out.”

By Robin Florzak

Below, view a video of Leticia Hutchins leading a tour of Alma Coffee’s roastery.

DePaul, Business Leaders and Alumni Host Diversity Discussions

The Driehaus College of Business hosted several thought-provoking virtual events in 2021 that brought together business leaders, alumni and the DePaul community to explore issues involving diversity, equity and inclusion in business.

DePaul President A. Gabriel Esteban, PhD, and Malik Murray (BUS ’96, MBA ’04) hosted a fireside chat with Ariel Investments founder, Chairman, Co-CEO & Chief Investment Officer John Rogers, Jr. on Feb. 26. The discussion covered topics that included Ariel Alternatives’ “Project Black” initiative, the first Black-owned mutual fund with a mission to invest and scale minority-owned businesses.

The college’s Faculty and Staff Committee on Diversity, Inclusion and Equity sponsored “Conversations on Race in the Workplace” Jan. 21. This virtual panel discussion featured chief diversity officers sharing how to cultivate anti-racist organizations. The event was moderated by Stephanie Shipp, (DBA’19), Director of Strategy, Operations and Planning, Dell Technologists. Panelists were:

  • Florida Starks, PhD, Head of Diversity and Inclusion, ConAgra Brands
  • Eric Fulbright, Director of Diversity and Inclusion, Best Buy
  • David Romero (MSHR ’18), Director of Diversity, Equity and Inclusion, Wipfli LLP
  • Shanis Windland, Vice President of Diversity and Inclusion, VMware

On March 3, the Department of Marketing hosted a virtual panel discussion, “Bringing Diversity to the Workplace,” during which business professionals and DePaul marketing students reflected on this topic.

DePaul Business Student Launches Face Mask Company During COVID-19

DePaul business student Lauren Pingad launched Fashion Masks, a high-quality protective mask venture, in April 2018 with her mother Hui Nye, a draper technician at DePaul’s Theatre School, to help people during the COVID-19 global pandemic. Pingad, who is studying management and entrepreneurship at the Driehaus College of Business, oversees the operations and marketing while Nye takes the lead on production.

Pingad credits DePaul’s Coleman Entrepreneurship Center Executive Director Bruce Leech with providing guidance for starting her business.  The center also hosted a “hackathon” competition over the summer that challenged other DePaul students to create marketing ideas for Fashion Masks.

The business focuses on producing masks with premium cotton fabric, adjustability and fit, and has partnered with at least 15 different real estate businesses, apartment complexes, hotels and medical clinics throughout Chicago to provide masks.

Watch the full video to learn more about this startup:

Driehaus College of Business Celebrates Women’s History Month

Twelve DePaul business leaders — faculty, staff, students and alumni — explain why they are a “woman in business” in short video.


For more than 100 years, women have been studying in DePaul’s business school. Since then, the Driehaus College of Business has welcomed its first woman dean, opened the Women in Entrepreneurship Institute, and has highlighted countless stories of DePaul women’s accomplishments and contributions to their fields, communities and the world.

March also marks Women’s History Month, a national celebration the U.S. has recognized since 1987. To celebrate this month, the business college created a video that highlights 12 DePaul women leaders — four alumni and Driehaus College of Business faculty, staff and students —who explain why they are leaders in business. Those women include:

  • Misty Johanson, dean, Driehaus College of Business
  • Kelly Richmond Pope, associate professor of accountancy and filmmaker, “All the Queen’s Horses”
  • Dana Fitzmorris, MBA student and co-founder of the Kellstadt Women in Business student organization
  • Jessica Vazquez (BUS ’07, MBA ’16), manager at The Shelby Group
  • Hui Lin, associate professor of accountancy and associate director for Regional Initiatives — China
  • Carolyn Leonard (BUS ’64), CEO and founder, DyMynd Angels and one of the first women to trade options in Chicago
  • Bushra Amiwala, undergraduate DePaul business student, CEO and founder of the Amiwala Foundation and Glamour Magazine’s College Woman of the Year
  • Alyssa Westring, associate professor of management and co-author of “Parents Who Lead: The Leadership Approach You Need to Parent with Purpose, Fuel Your Career, and Create a Richer Life”
  • Emilia Dimenco (BUS ’80, MBA ’83), CEO and president, Women’s Business Development Center
  • Maija Renko, professor and Coleman Entrepreneurship Chair
  • Sandra Shelton, KPMG Distinguished Professor of Accountancy and diversity ambassador at the Driehaus College of Business
  • Abigail Ingram (MA ’15, JD ’18), director, DePaul’s Women in Entrepreneurship Institute

The video was produced by Jaclyn Lansbery, website & social media content editor, and Theophilus Jamal, video producer and instructional designer, at the Driehaus College of Business.​