Chicago Business Leader Michael J. Palumbo, Chairman of MJP Capital, To Join Illinois Tech Board of Trustees

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By Howard J. Lee

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Michael J. Palumbo

Stuart School of Business alumnus Michael J. Palumbo, chairman of MJP Capital, has been named to the Illinois Institute of Technology (Illinois Tech) Board of Trustees. Palumbo was elected at Illinois Tech’s May 21, 2020 board meeting.

“As Chicago’s only tech-focused university, the hands-on education that I received at Illinois Tech has greatly contributed to the foundation of my success today,” says Palumbo. “I am excited at the opportunity to help steward the next generation of business and tech leaders of Chicago.”

Palumbo is the founder and chairman of MJP Capital, a Chicago-based venture capital firm founded in 2012, and a controlling member of Ceres Acquisitions, a real estate investment firm. He is also the founder and controlling partner of TMT Investments, a trading firm headquartered in Chicago. In addition to managing several successful financial firms in the Midwest, Palumbo is also a regular contributor to WBBM’s Noon Business Hour, commenting on the day’s market moving business news. One of Trader Monthly magazine’s top 100 financial traders worldwide, Palumbo is also an active member on the Board of Directors at World Business Chicago (WBC)—where he serves alongside WBC Chair and Chicago Mayor Lori E. Lightfoot—and was named to Crain’s Chicago Business “40 Under 40 Focus” in 2005.

“Michael exemplifies the commitment to student success that we see in our outstanding alumni throughout Chicago and across the globe,” says Ernie Iseminger, vice president of advancement at Illinois Tech. “As we continue to strengthen our commitment to the greater Chicago community, Michael’s keen entrepreneurial and business acumen will be of great benefit to the success of our students and to Illinois Tech.”

Palumbo’s past projects include founding Third Millennium Trading, a Chicago-based floor trading company, and the initial funding of GETCO, one of the largest institutional high-frequency trading companies in the world, in 2000. In April 2016 Palumbo completed his first book, Calculated Risk: The Modern Entrepreneur’s Handbook.

A 1988 graduate of Illinois Tech’s Stuart School with a Bachelor of Science in Business Administration, specializing in management information systems, Palumbo went on to receive his Masters in Business Administration (MBA) from Northwestern University’s Kellogg School of Management in 1990.

In his personal life, Palumbo remains active with many philanthropic causes. Most notably, he was co-chair for the 2019 Bear Tie Ball to raise money for the Bear Necessities Pediatric Cancer Foundation in Chicago. Palumbo lives in the Gold Coast neighborhood of Chicago with his wife, Veronica, and their twin boys. He also has four adult children.