[NEW YORK – September 13, 2018] — Columbia University President Lee C. Bollinger announced today that Glenn Hubbard will step down as Dean of Columbia Business School at the end of the 2018-2019 academic year. Hubbard joined Columbia in 1988, and was appointed Dean by President Bollinger in July 2004. His resignation as Dean will be effective June 30, 2019, at which point he will resume his position as part of Columbia Business School’s esteemed faculty as the Russell L. Carson Professor of Finance and Economics, and as Professor of Economics in Columbia’s Department of Economics in the Faculty of Arts and Sciences. A global search for Hubbard’s replacement will begin immediately.
“Glenn’s 15 years as Dean will be remembered as an historic period during which Columbia Business School was strengthened on every meaningful front and solidified its standing as one of the most celebrated and innovative schools of business in all of higher education,” said Bollinger. “Dean Hubbard succeeded repeatedly in seizing opportunities for transforming and modernizing Columbia Business School through times that were often turbulent and challenging. The most powerful symbol of this progress will become fully visible four years from now when the doors of the Henry R. Kravis Building and the Ronald O. Perelman Center for Business Innovation are opened, and Columbia Business School occupies its new home at the center of the Manhattanville campus.”
“Fourteen years ago, and with the trust of President Bollinger and the Columbia Board of Trustees, I had the privilege to begin serving Columbia Business School as its Dean,” said Hubbard. “Today, as I reflect upon the last decade and a half, I am humbled by the progress made toward achieving our mission to innovate, connect, and lead, and our strategy to bridge theory and practice. Without question, our position in the University is a key factor of that success. As Columbia Business School prepares to embark on a new era, I have every confidence that the School will continue to be a global innovator in both management education and in how business is practiced in the 21st century. I look forward to supporting that vision as a member of its faculty.”
A Transformative Impact as Dean
Under his leadership, Hubbard has overseen the enhancement and expansion of nearly every aspect of Columbia Business School. He has led initiatives to revamp the School’s core curriculum; strengthened recruitment of both top academics and students; launched countless initiatives to bridge academic theory with the practice of business; and reignited engagement of the School’s 46,000 global alumni community.
Hubbard guided the expansion of three new extensions of the School’s Executive MBA program; launched four new master’s degrees; and supported the development of curricular innovations in real time, such as the launch of the School’s flagship Immersion Seminars and Master Classes.
A prolific fundraiser, Hubbard will have raised more than $1 billion for Columbia Business School by the conclusion of his deanship next June. This financial legacy has and will continue to enable the School to pursue countless innovations that will benefit the School and its global community.
Notable is the expansion of financial aid during Hubbard’s deanship, which increased 600% from 2004 to 2018. Hubbard also raised more than $500 million to establish Columbia Business School’s future home on Columbia University’s Manhattanville campus. The School’s expansion into two new buildings – the Henry R. Kravis Building and the Ronald O. Perelman Center for Business Innovation – will elevate its position as a source of global business innovation and economic policy.
Recognizing the benefits that can come from being a part of an interconnected, research-oriented University, Hubbard bolstered strategic partnerships and programs across the University. Under his leadership, Columbia Business School helped launched the following joint initiatives:
- The Richard Paul Richman Center for Business, Law, and Public Policy, which promotes evidence-based public policy and fosters dialogue and debate on emerging questions where business and markets intersect with the law.
- The Tamer Center for Social Enterprise, which challenges and educates leaders to use business tools, and entrepreneurial and management skills to address issues and activities that lie at the intersection of business practice and the interests of society.
- Entrepreneurship at Columbia, including initiatives such as the Columbia Startup Lab and Innovation & Entrepreneurship at Columbia that are supported by the Business School’s Eugene Lang Entrepreneurship Center. These programs provide platforms and resources to help budding entrepreneurs explore and nurture their ideas and companies.
The Culmination of a Storied Career
In addition to his prodigious career in academia, Hubbard has worked at the intersection of the private, government and nonprofit sectors and has been actively engaged in national and international economic policy issues. In 2001, President George W. Bush appointed Hubbard as chairman of the U.S. Council of Economic Advisers. After serving in that position for two years, Hubbard returned to Columbia University and was later appointed Dean in July 2004.
Hubbard received his PhD in economics from Harvard University in 1983 and has held faculty or visiting faculty positions at Northwestern, Harvard, and the University of Chicago, in addition to Columbia. He has written more than 100 scholarly articles in economics and finance, and is the author of three popular textbooks, as well as co-author of The Aid Trap: Hard Truths About Ending Poverty, Balance: The Economics of Great Powers From Ancient Rome to Modern America, and Healthy, Wealthy, and Wise: Five Steps to a Better Health Care System. His commentaries appear regularly in major newspapers, as well as on television and radio. Hubbard is co-chair of the Committee on Capital Markets Regulation, a past Chair of the Economic Club of New York, and a past co-chair of the Study Group on Corporate Boards.