Beat The Streets - New York City Wrestling


Friends of wrestling came together on Monday for an evening of networking and conversation with David Pottruck, A UPenn wrestling alumnus and former CEO of Charles Schwab; Pottruck currently serves as the chairman of HighTower Advisors.


The night was well attended by many with a background in wrestling and interest in the sport.

Although wrestling was the central theme of the event, Pottruck imparted knowledge and wisdom on topics ranging from the airline industry to discount brokers and high frequency trading firms.

When asked about his philosophy on philanthropy David recounted when he first joined the University of Pennsylvania Foundation Board. He realized that his ability to attend the University was made possible by the generosity of a former graduate through an endowed scholarship. This scholarship made it possible for David to go to school and earn his degree and it was at this point in time that he focused on "paying it forward". 

Asked about a time of struggle, Pottruck recounted the point in his life when he was asked to lay off 15,000 people at Charles Schwab. Pottruck, who had spent over twenty years leading the company through explosive growth, admits that he wasn’t particularly good at his new assignment in reversing growth, and that his career at Schwab’s would soon came to an end.

To make it through the hard times, Pottruck drew on his wrestling experience. According to Pottruck, wrestlers rarely have a chance to win every match. Unlike losing in football, “there’s something personal about losing in wrestling.” Pottruck stressed the importance of holding your head up and getting back on the mat, whether you want to or not.

During this moment, Beat the Streets board member and former Massapequa High School wrestling coach Al Bevilacqua agreed audibly when he suddenly interjected with, “You can’t hide on the mat.”  

In response to Bevilacqua, Pottruck –a Long Island native – humorously added that he had beaten the guy from Massapequa, sending the crowd into a chorus of laughter.

Following the event David autographed several copies of his latest book "Stacking the Deck."