If there was one message that resonated throughout Ivey's spring convocation ceremonies, it was to face the future with optimism and tune out the noise and negativity that so often surrounds it.
That message was fitting as Ivey's 1,053 graduates prepared to take their next steps as leaders, professionals, and lifelong learners. Degrees were conferred across Ivey's HBA, MBA, MSc, EMBA, AMBA, and PhD programs during two ceremonies at Canada Life Place, where graduates were encouraged to embrace change, trust in their abilities, and make meaningful contributions in their professions and communities.
At the morning ceremony, recognizing MBA, MSc, EMBA, AMBA, and PhD graduates, Acting Dean Nicole Haggerty introduced honorary degree recipient Richard Rooney, MBA '81, who reflected on the resilience of a generation that has navigated a pandemic, economic uncertainty, technological disruption, and geopolitical instability.
“To the extent possible, you ignored the noise and negativity and got on with your lives,” he said. “I would suggest you keep doing that.”
The case against pessimism
Rooney, who spent more than four decades in capital markets and is Vice Chair and Co-Founder of Burgundy Asset Management, told the graduates that pessimism, while often persuasive, is rarely a reliable guide to the future. He pointed to his own career as evidence, noting that he had seen thousands of forecasts – most of them wrong – because they failed to account for how adaptable and ingenious humans really are.
“In my experience, pessimists are often right about the details, but wrong about the big picture,” he said. “They are adept at weaving vast narratives of disaster from a few gloomy statistics.”
He added that forecasters are usually wrong precisely because they underestimate human ingenuity.
“Bad things aren't as bad as we expected, and good things are often much better,” he said.
He shared how his own generation faced wars, recessions, frauds, bankruptcies, bubbles, and other crises. Yet despite those challenges, people today enjoy higher standards of living, better health, greater mobility, and broader access to information than at any point in history – proof, he argued, that people are often better at adapting to change than they give themselves credit for.
(Photo above) Richard Rooney speaking to Ivey graduates. Rachel Lincoln Photography.
A generational advantage
Rooney said that same capacity for adaptation should serve the graduates well as they enter a workforce being reshaped by artificial intelligence (AI) and technological change. While some commentators have warned that entry-level jobs could disappear, he said each generation has faced similar concerns about technology displacing work that didn’t pan out as expected.
He added that graduates are entering this period of change with a unique advantage. While AI can provide access to vast amounts of accumulated knowledge, he said the creativity, adaptability, and problem-solving abilities of young people remain in demand. Combined with their facility with large language models and other emerging technologies, he said graduates are well-positioned to succeed in a rapidly changing workplace.
“Employers are going to want to mobilize your talents, and your entry-level jobs are going to be way more interesting than photocopying,” he said.
Rooney encouraged the graduates not to be discouraged if their careers unfold differently than expected, noting that he was 29 before he found the career path he truly wanted to pursue.
“Business, government, and society all need you, and you will have your opportunity to contribute,” he said.
He concluded by reflecting on the enduring friendships he formed during his MBA studies and the importance of surrounding oneself with people who offer support, encouragement, and perspective through life's inevitable challenges.
“My closing advice to you is that you not crouch under your desk expecting the worst, but that you live your human lives in all their complexity and do the best you can by your families and friends, your employers, your country, and your planet,” he said.
HBA ceremony
Similar themes emerged at the afternoon ceremony that celebrated 583 HBA graduates and featured a keynote address from honorary degree recipient Kevin Sullivan (BA ’80, LLB ’83, Western), who was introduced by Mohamed Khimji, Dean of Western Law.
A co-founder of GMP Securities and a longtime supporter of Western and Ivey, Sullivan has played a central role in building the Morrissette Institute for Entrepreneurship, powered by Ivey into a national model – including a landmark gift that established the Sullivan Founders Award for undergraduate students.
Sullivan offered the graduates five lessons drawn from his own career, beginning with a story about being attacked by a bear during a tree-planting season in northern British Columbia the summer he was meant to graduate from Western. He used the experience to underline his first piece of advice: finish what you start, especially when it gets hard.
“When you face your own version of getting mauled – and if you haven't yet, you will – your future won't be defined by the mauling,” he said. “It'll be defined by how you respond to it and what you do next.”
He encouraged the graduates to treat their education as a platform rather than a constraint, urging them to be curious and take risks.
A career built on character
Echoing Rooney's message about navigating uncertainty, Sullivan told the graduates that the rise of AI makes character, not credentials, the true mark of a career.
“Information has already been commoditized. Intelligence may soon follow,” he said. “What cannot be replicated is the strength of your character, the consistency of your integrity, and your commitment to do what you say you will do. Those are the things that build relationships and build leaders.”
Sullivan closed by reminding the graduates that no professional achievement compares to the relationships that sustain a life – with classmates, colleagues, family, and the partners they choose along the way.
Honorary degrees
This year, two distinguished Ivey alumni were recognized with honorary degrees during Western's spring convocation ceremonies.
Rooney, who began his career at Sun Life before joining Burgundy Asset Management in 1995, has spent decades building one of Canada's most respected independent asset managers while also making significant contributions through his philanthropy. He has served as Chair of the Princess Margaret Cancer Foundation, Chair of the Board of Governors of the Stratford Festival, President of the Art Gallery of Ontario Foundation, and a Director of the University Health Network. Earlier this year, he was named to the Order of Ontario, the province's highest civilian honour, for his distinguished service in health care, education, the arts, and community development.
Sukhinder Singh Cassidy, HBA '92, will receive an honorary degree at the Faculty of Social Science ceremony on June 11. Singh Cassidy is the Chief Executive Officer of Xero, a global financial technology company, and the founder of theBoardlist, a network connecting companies with diverse board talent. Over a 25-year career, she has held senior leadership roles at Google, Yodlee, Joyus, and StubHub, and is being recognized for her contributions to the technology sector and her advocacy for gender equity in business leadership. A longtime supporter of Ivey, Singh Cassidy was the inaugural recipient of the Ivey Alumni Achievement Award in 2019 and recently established the Ivey Women Investing in Leadership Case Competition.
Honouring Ivey’s award winners and valedictorians
In addition to the convocation ceremonies, Ivey held separate pledge ceremonies and awards celebrations, where class valedictorians reflected on their classmates' shared journey and the resilience that carried the Class of 2026 to graduation. Valedictorian addresses were delivered by:
- Derek Adam and May El Damatty (MBA);
- Jeffrey Heard (AMBA);
- Luis Melendez (HBA); and,
- Jackson Edwards (MSc).
The EMBA class hosted its awards ceremony on June 9, featuring an address from valedictorian Maggie Nejim-Khoury.
Congratulations to all of Ivey’s graduates who are now part of the Ivey Alumni Network. And a special congratulations to the award winners below.
MBA Program
- Robert Johnson Gold Medal: May El Damatty;
- MBA Direct Gold Medal: Artika Pahargarh; and,
- Seijts Leader Character Award: Derek Adam.
AMBA Program
- Gold Medal: Olga Rechytska; and,
- Mark Vandenbosch Excellence in Teaching Award: David Wood, HBA ’97, MBA ’12.
EMBA Program
- Gold Medal: Lauretta Frederking; and,
- Carol Stephenson Excellence in EMBA Teaching Award: Mary Gillett, HBA ’82, MBA ’02.
MSc Program
- Gold Medals: Jackson Edwards (International Business), Ahmed Quadri (Business Analytics), Daphne Tambakis (Digital Management); and,
- Teaching Excellence Awards: Vanessa Hasse, PhD ’16 (International Business), Mehmet Begen (Business Analytics), Rob Austin (Digital Management), Erik Bohlin (Electives).
HBA Program
- HBA Gold Medal: Amy Zado;
- HBA Combined Degree Gold Medal: Christina Iliopoulos;
- A.R. Wood HBA Award: Amy Zado;
- Michael & Stefanie Block HBA Award: Evan Woo;
- Bob Britney HBA Prize: Francesco Rende;
- Fred Jones Prize in Finance: Anna Busaba;
- Adam Wiseman Memorial Award: Nisa Qureshi;
- Seijts HBA Leader Character Award: Sabrina So; and,
- David G. Burgoyne Teaching Award: Ann Frost and Jana Seijts.
(Photo above) Ivey graduates during a pledge ceremony.
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