Interns Bryce Devlin, Clay Matthews, and Phoebe Shearer

Verger Intern Spotlight: Spring 2025

In this latest edition of our Intern Spotlight Q&A series, we're pleased to highlight Verger's spring 2025 interns. We hope you enjoy learning about Bryce, Clay, and Phoebe, what brought them to Verger, and what they're taking away from their experiences.

Meet The Interns

Bryce Devlin

Bryce is a student at Wake Forest University's School of Business with a strong interest in finance that began early in life. He developed his passion by reading investment books and managing his own brokerage account, while his coursework at Wake Forest provided him with a solid framework for understanding financial concepts. On campus, Bryce is an active member of the Men's Club Lacrosse Team and enjoys playing intramural sports and watching movies with friends. At home, he spends time reading, golfing, going to the beach, and sharing meals with his extended family.

Bryce Devlin

Clay Matthews
Clay discovered asset management through his internship at Verger, which sparked from a conversation with a Wealth Manager at Morgan Stanley who specialized in Athlete Wealth Management. This experience introduced him to an exciting intersection between the Sports Industry and Financial Services. A passionate Wake Forest fan, Clay is heavily involved with Wake Athletics and has dedicated significant time to enhancing the student fan experience. In his leisure time, he enjoys various beach activities including boating, fishing, or simply relaxing on the sand.

Clay Matthews

Phoebe Shearer
Phoebe was introduced to asset management through her father, who has worked in the industry for years. As a statistics major with a personal interest in investing, she heard about Verger's internship program through friends who completed it and saw it as an excellent opportunity to deepen her knowledge. Outside of academics, Phoebe enjoys going on walks with friends or family, exploring new coffee shops, reading, and watching television shows. She is preparing to graduate from Wake Forest this May and will be moving back to New York.

Phoebe Shearer

 

Q&A with Our Interns: 

What Was Your Favorite Project This Summer?

Bryce: I really enjoyed working on the Royalties Research Project. Before, I didn't really understand what a royalty was, or how it worked. Now, I feel like I have a strong grasp not only on the concept, but also how to identify potential investment opportunities in the healthcare, mining, and music industries.

Clay: I thoroughly enjoyed the Royalties project we worked on as well. I got to take a deeper dive into Music Royalties, and was fascinated by all of the different revenue streams associated with the entertainment industry.

What have you learned about workplace culture that you will take to your next experience or have found most valuable?

Phoebe: I have learned the importance of building relationships both in and out of the office. I was able to sit in on weekly meetings that included the entire staff here at Verger, and found it very beneficial that the team took the time to discuss a different topic each week – whether it be goals for the year, favorite things about spring, or a presentation on a charitable cause. I enjoyed how the team emphasized the importance of learning more about each other outside of work, and discussing lighthearted subjects to spark conversation and connections.

What part of Endowment and Foundation asset management did you find most compelling?

Clay: What stands out to me about Verger is the clear commitment to making a positive impact, expressed through the guiding principle of "Investing in the Lives of Others." I appreciated learning how important it is to the Verger team to support the missions of endowments and foundations, beyond the everyday management of the portfolio. It reflects a broader vision where capital isn't simply about profit but actually used as a means for lasting social gsood.

Phoebe: I found it quite interesting to learn more about the management of endowments at universities or other academic institutions, as I had never previously considered how non-profit establishments manage their finances compared to for-profit institutions. Learning about the strategy for endowment and foundation management in reference to other investing methods was extremely interesting, and the investment philosophy of Verger being "Protect, Perform, Provide" perfectly encapsulates the mission of managing non-profit organizations.

How has your view of asset management changed?

Bryce: Coming into this internship, I thought asset management was all about maximizing profit and identifying opportunities in the market with high upside return potential. I quickly realized, however, that my initial understanding was only the tip of the iceberg. There is so much more to consider when identifying what makes an asset attractive. Understanding what can go wrong in an investment, rather than what can go right, and analyzing how a specific position can fit into a certain portfolio provides a more holistic and accurate view into asset management.

What skill(s) did you learn at Verger that you are most excited to apply to future opportunities?

Bryce: Building my technical skills in Bloomberg, Excel, and eVestment has been incredibly valuable, but I am most excited to apply the soft skills I learned, like working diligently in teams and communicating with clients in a business setting.

What was the most interesting thing you learned during your internship?

Phoebe: The most interesting thing I learned during my internship was the different strategies involved in managing an exchange traded fund. For our capstone project we chose to research an actively managed ETF that followed a rules-based systematic approach to selecting and managing stocks, and I had never previously learned about the different methods for managing ETFs. I found it extremely interesting how rules-based ETFs follow predetermined rules and quantitative factors to select stocks within the portfolio.

Are there specific areas of financial management that you are more interested in pursuing?

Clay: I am specifically interested in pursuing a financial management career surrounding/involving the Sports Industry. I think it would be really neat to manage the wealth of college and professional athletes. Many athletes face unique financial challenges, especially when transitioning out of sports, and I would love to be part of guiding them through those pivotal moments. I'm also fascinated by the intersection of finance, branding, and personal development in athletics. I hope to combine my passion for sports with my growing financial ability to make a meaningful impact in athletes' lives.

What are you up to next?

Bryce: This summer, I'll be working as an analyst at Endure Capital Management, where I hope to apply many of the same skills I learned throughout my time at Verger. Then, I'll be studying abroad in Florence, Italy in the fall, and hopefully travelling all throughout Europe.

Clay: I recently accepted an offer to join Creative Artists Agency as a Sports Property Sales Intern in their New York City office this summer. I look forward to utilizing the skills I have developed here at Verger and incorporating them into my new role.

Phoebe: I am graduating this May from Wake Forest, and will be moving back to New York!

Thank you Bryce, Clay, and Phoebe for your many contributions.


Thank you to our spring interns for their many contributions. For more information about Verger's Internship Program, including how to apply, please visit our Careers page

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