MIT Center for Finance and Policy renamed in recognition of a major gift from alumnus Bennett W. Golub

CAMBRIDGE, Mass., May 31, 2016 /PRNewswire-USNewswire/ -- The MIT Sloan School of Management announces a major gift from alumnus Bennett (Ben) W. Golub to support the MIT Center for Finance and Policy. Dr. Golub is senior managing director and chief risk officer of BlackRock, the global investment and risk management firm. In recognition of his gift, the Center will be named the Bennett W. Golub Center for Finance and Policy (GCFP). The mission of the Center is to serve as a catalyst for innovative, cross-disciplinary and nonpartisan research and educational initiatives that address the unique challenges facing governments in their role as financial institutions and as regulators of the financial system.

"In countries around the world, the past decade has demonstrated what is at stake when financial institutions and regulations confront intense systemic problems," says MIT President L. Rafael Reif. "From its home inside MIT Sloan's Finance Group, one of the top financial economics units in the world, the Golub Center for Finance and Policy will bring together leading minds from economics, political science, and engineering to develop innovative solutions to these looming problems. Ben Golub's generous gift will greatly advance the Center's reach and effectiveness."

Golub says, "I believe that MIT is uniquely capable of providing a platform for rigorous and nonpartisan research in risk management, financial regulation, and systemic risk. This research is sorely needed, as we all have been witness to the unfortunate economic consequences when the financial system stumbles. My hope is that this gift will permit the Center to leverage the outstanding talent at MIT to help improve the safety and efficiency of the financial system. 

"We are thankful for Ben Golub's support of the GCFP, as this gift strengthens our commitment to research and educational initiatives at the intersection of finance and policy," says MIT Sloan Dean David Schmittlein. "This commitment stems from MIT's mission to generate, disseminate, and preserve knowledge, and work with others to bring this knowledge to bear on the world's greatest challenges. There is a high demand for new and objective insights on critical issues of financial policy, and the Golub Center is well positioned to fill that need."

MIT Sloan Prof. Deborah Lucas, director of the Golub Center for Finance and Policy, notes, "This gift will expand the Center's capacity to undertake timely analyses that help inform policy decisions that will have major consequences for the health of financial markets and the wider economy. It also will allow us to bring to MIT a leading researcher who will focus on regulatory issues. Ben Golub has shown tremendous leadership not only through his financial support of the Center, but also through his service as chair of the Center's Advisory Board. We are very appreciative of his gift, which will help the Golub Center realize its goal of becoming the go-to source for nonpartisan analyses of financial policies."

MIT Sloan Prof. Robert Merton, co-director of the GCFP, adds, "Ben Golub's generous gift underscores that the need for rigorous financial analysis of public policy has never been greater. We are honored to add his name to the Center, as he is an exceptionally well-respected and trusted leader in the finance world."

The Golub Center focuses on three broad research areas: government financial institutions, financial regulatory policies, and public risk management, including the study of systemic risk. The Center provides resources for scholars to conduct innovative research and policy analysis in an objective, quantitative, and non-partisan manner. Through its research, educational and outreach activities, it seeks to provide greater transparency about financial policy, innovative educational materials and programs, and new venues for discussion, with the goal of providing regulators, policymakers, and other public-sector stakeholders with tools and ideas that will elevate the quality of public-policy debate and decisions.

Headed by Lucas, co-directors of the Center include Merton, MIT Sloan Prof. Andrew Lo, and MIT Sloan Prof. Jonathan Parker. Doug Criscitello serves as executive director.

About Bennett W. Golub:
Dr. Golub holds three degrees from MIT, including an SB degree and an SM degree in Management as well as a PhD degree in Applied Economics and Finance. He is a member of the MIT Sloan North American Executive Board and chair of the Golub Center's Advisory Board.

In 1988, Dr. Golub co-founded the firm that evolved into BlackRock. He has served as co-head and co-founder of BlackRock Solutions, BlackRock's risk advisory business. He also served as the acting CEO of Trepp, LLC, a former BlackRock affiliate that pioneered the creation and distribution of data and models for collateralized commercial-backed securities.

Currently, Dr. Golub is a member of the Global Executive Committee and co-head of the Risk & Quantitative Analysis Group of BlackRock. He has served as chief risk officer since 2009 and is chair of BlackRock's Enterprise Management Committee.

About MIT Sloan:
The MIT Sloan School of Management is where smart, independent leaders come together to solve problems, create new organizations, and improve the world. Learn more at mitsloan.mit.edu.

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