Baruch's Weissman Center for International Business offers its congratulations to former center Advisory Council member William Donaldson, recently named the new chairman of the Securities and Exchange Commission. "His new task as chairman of the SEC is arguably the most important job in finance today," said Terrence Martell, Baruch professor of economics and finance and the Weissman Center director. Donaldson joined the Advisory Council in 1995 as one of its original members. "Over the years, Donaldson helped shape the center's programs and initiatives with a focus on student service," explains Martell. "He strongly believes that the center's primary responsibility is to provide opportunities for Baruch students to succeed in the world of international business. With energy and dedication, he helped many Baruch students realize their dreams."

Donaldson brings to his SEC appointment a distinguished career's worth of experience. After earning a bachelor's degree in American studies from Yale University and graduating from Harvard with an MBA, he co-founded the investment banking firm Donaldson, Lufkin and Jenrette in 1959 and served as the firm's chairman and CEO. From 1990 to 1995, he was the chairman and CEO of the New York Stock Exchange and subsequently served as the chairman, president, and CEO of Aetna, Inc. Donaldson is a founding dean of the Yale Graduate School of Management. A former marine, he also served as undersecretary of state under Henry Kissinger from 1973 until 1975.

In making the appointment, President George Bush expressed supreme confidence in Donaldson: "Bill Donaldson will be a strong leader with a clear mission to vigorously enforce our nation's laws against corporate corruption and to uphold the highest standards of integrity in the securities markets."

Photo, above:
William Donaldson, new SEC chairman.