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Baruch College School of Business is Renamed to Honor $18 Million Benefactors

877 words
23 March 1998 11:45
PR Newswire
(c) 1998 PR Newswire

A Baruch Alumnus Pledges Largest Gift

In the History of The City University of New York

NEW YORK, March 23 /PRNewswire/ -- The Board of Trustees of The City University of New York today gave its imprimatur to the naming of the Zicklin School of Business at Baruch College. The name honors Larry Zicklin and his wife, Carol who have pledged $18 million to elevate the School's students and programs. The gift is the largest ever recorded by any division of The City University of New York -- and one of the largest gifts ever received by a school of business in the United States.

The managing principal of Neuberger & Berman, an investment firm with $55 billion in assets under .management, Larry Zicklin is also president of the Jewish Communal Fund, and an adjunct business professor at NYU's Stern School and at Wharton. Carol Zicklin is a graduate of Brooklyn College who spent most of her career as a learning disabilities teacher consultant. She now volunteers her time to run a Jewish introductory service sponsored by the Jewish Board of Family and Children's Services.

"Without Baruch, I wouldn't have gone to college, met my wife, attended the Wharton Graduate School, or become a partner in Neuberger & Berman. In other words, I wouldn't be where I am today," said Mr. Zicklin. "I thought that if I came forward with this type of gift, others who owe their success to Baruch might follow."

The Zicklin gift will be used by the School of Business to create a top-tier 300-student full-time MBA program and to recruit both exceptional students and top-ranked faculty from a national pool. Currently, most Baruch MBA candidates hold down jobs and pursue the degree in the evening and on a part-time basis.

Sidney Lirtzman, Dean of the Business School, hailed Mr. Zicklin's gift as "an enormous public vote of confidence in the, quality of the academic programs of our business school. It comes at a critical moment in our history, as the faculty restructures the school to create a great national full-time MBA program of such excellence that it will establish our ranking within the top 25 business schools in the U.S."

Serving as the model for the development of the new and expanded full-time program will be the Business School's Jack Nash Honors program, inaugurated last year. Students in the Jack Nash program rank in the top 5% of MBA candidates throughout the country. The average GMAT score of 661 puts the Nash scholars on a par with students at Wharton and the Stanford Business School.

Commenting on the Zicklin gift, Baruch College President Matthew Goldstein stated, "This gift represents a new standard of giving to New York's public colleges. I believe it marks a watershed in how public higher education will be financed in the future. We can no longer depend solely on the tax-payers of New York to carry the entire burden.

"Baruch has been fortunate to find among its alumni and supporters men and women of exceptional vision and generosity. Larry Zicklin embodies both these qualities. His gift will make an enormous difference in the lives of the young people who come to Baruch determined to forge successful business careers and make their mark on American enterprise."

The Zicklin gift brings to $44 million the total raised by Baruch since it began the "quiet phase" of a capital campaign in 1995. It follows a $10 million gift announced last month from George Weissman, '39, the former chairman of Philip Morris Companies, Inc to name the Mildred and George Weissman School of Arts and Sciences. The capital campaign, the first in the history of the College, initially set a goal of $25 million, which college officials at the time considered a highly ambitious and trend-setting effort.

In addition to the two eight-figure gifts, Baruch has received a number of seven-figure gifts from prominent alumni, among them real estate executive William Newman '47; Sidney Harman '39, founder of Harman Industries; Stan Ross '56, vice chairman of Ernst & Young, LLP; and Eli '40 and Clare Mason '40.

The extraordinary success of Baruch's first capital campaign thus far has prompted College officials to revise their original campaign goals. Baruch College now expects to raise $50 million by the end of 1998 and has set itself a challenge goal of $100 million to be met by the fall of 2003.

Located in the historic Gramercy Park area of New York, Baruch has been an independent senior college within The City University of New York since 1969. Baruch has an enrollment of 15,000 students, of whom more than 1,500 are pursuing advanced degrees. The College is the home of The City University's graduate business programs, including the Ph.D. in Business. Publications such as Business Week and Money magazine have consistently ranked Baruch College for quality and value. Baruch students come from over 90 ethnic and linguistic backgrounds and more than 85% pursue business degrees.

/CONTACT: Zane Berzins of Baruch College, 212-802-2881, or 212-802-2880

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