Photocourtesy NBC News

Tom Costello

By Anjanette Mudd

From plane crashes to stock market crashes, crisis always seems to find its way into the career of Tom Costello ('87).

As CNBC's London anchor and chief European correspondent, Costello's coverage of the year's financial crisis has given the former University of Colorado student a highly visible position in broadcast journalism.

"This year's crisis in the world's financial markets has turned what I thought would be a sleeper job into a very high-profile position," Costello said.

From London, Costello anchors all of CNBC's coverage of the world's financial markets. He also covers the major political, economic and business news in Europe on a daily basis.

When Costello graduated from CU with a degree in broadcast journalism, he wanted to cover wars and international news, and Costello's position at CNBC has placed him in the hot seat.

"More than ever before, the world's markets are interconnected," Costello said. "We're seeing firsthand how stock market slides in Russia, Latin America and Asia can hurt the retirement investments of people in Colorado and across the country.

"If the Asian markets slide and U.S. mutual funds lose money, that's money that average Americans have socked away to pay for their kids’ college education or to buy a second home or to retire with," Costello said.

Costello said the recent volatility in the stock, currency and bond markets has attracted large numbers of viewers to CNBC. In just one year ratings increased by more than 200 percent.

"We try to provide our viewers with information that will help them get a feel for the day ahead, information that will allow them to make wise investment decisions," he said.

Costello said covering such an intriguing and complex story has provided great challenges. But crisis coverage is nothing new for Costello.

Formerly a correspondent for KUSA-TV in Denver, he gained national recognition for his coverage of the Los Angeles riots and the Oklahoma City bombing.

While working at KUSA Costello won a regional Emmy award for his coverage of the crash of United Flight 585 in Colorado Springs. He's also won a Best of Gannett award and two national Associated Press awards.

Although he enjoyed the time he spent covering local news, Costello said the challenge of covering the international financial markets is different.

"I have learned a tremendous amount since joining the network more than two years ago," Costello said. "It's a knowledge that one can apply to his or her own life and make smart investment decisions."

Costello joined CNBC in 1996, but his career was not what took him overseas. A year earlier Costello had married Astrid Boon, a native Belgian. Soon after the wedding the couple moved to Belgium.

While working as a free-lance producer for CNN and reporting for Financial Times Television, Costello earned a master's degree in international business from Boston University's graduate program in Brussels. Not long after his final exams and the birth of his first daughter, CNBC offered Costello a position at its London Bureau.

Costello's reports appear daily on a variety of news shows, but one has to be an early riser to catch them. His first appearance, on "This Morning's Business," airs at 4:30 a.m. Boulder time. For many viewers that may be too early, but not for investors.

"Most of my reports appear on CNBC's morning programs since Wall Street is not yet open and investors can get a good sense of what is happening in the Asian and European markets," Costello said.

The morning programs he regularly reports for are "Before the Bell," "Today's Business," "Squawk Box," "Market Watch," "Market Wrap" and NBC's "News at Sunrise."

Costello also reports daily for CNBC and as developments warrant for MSNBC, the “Today” show and NBC affiliates across the country. At press time, Costello told Bylines he is moving to New York to co-anchor CNBC’s flagship morning show “Today’s Business,” which will have a heavy international flavor. It’s a “huge career move” for Costello.