July 14, 2005
Vol. 24 No. 19

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    Alper succeeds Jannotta in leading Chicago Initiative

    By William Harms
    News Office

    James Crown, Chairman of the University Board of Trustees (from background to foreground), Andrew Alper, University Trustee, and Edgar Jannotta, outgoing Chairman of the capital campaign and a Life Trustee, celebrate at this year’s Chicago Convenes dinner and reception for friends of the University who have supported the campaign thus far.

    Andrew Alper, Vice-Chairman of the Board of Trustees, became Chairman of the Chicago Initiative on Friday, July 1. He succeeds Edgar Jannotta, who has led the campaign since it began in 2002.

    “It’s time to lower the average age of the campaign leadership,” joked Jannotta at Chicago Convenes in May. “We need some young blood to get us to drive to the finish line, and Andy’s the right guy for the job.”

    Alper commented, “I’m deeply grateful to Ned for his enthusiastic leadership. He’s truly a hard act to follow, but I am confident that his work has set the stage for us to successfully complete the Chicago Initiative.

    “I’m looking forward to working with President Randel and the deans, my fellow trustees, an amazing group of volunteers, and our dedicated staff to complete the campaign and provide the University with the resources it needs to continue its tradition of unparalleled excellence.”

    As of Thursday, June 30, the Chicago Initiative had raised more than $1.25 billion towards its $2 billion goal.

    Alper is currently president of the New York City Economic Development Corp., a position he has held since February 2002. The Economic Development Corp. attracts and retains businesses in New York and works on projects such as the redevelopment of the site of the former World Trade Center.

    He was previously chief operating officer of Goldman, Sachs & Co.’s Investment Banking Division, a position he began in 1996. He has been affiliated with Goldman, Sachs & Co. since 1981, when he began as an associate in its corporate finance department. In 1985, Alper was promoted to vice president and then to managing director in 1990. He became co-head of the Financial Institutions Group in 1993.

    Alper received his A.B. from Chicago in 1980 and an M.B.A. from the Graduate School of Business in 1981. Since graduating, Alper has been an active alumnus, receiving a Young Alumni Service Citation in 1993.

    He was elected to the Alumni Association Board of Governors in 1994, and he served as that board’s vice president from 1996 to 1998. In 1996, Alper joined the GSB Council and currently serves as the co-chair of the GSB Capital Campaign.

    Alper was awarded the GSB’s 2004 Distinguished Public Service/Public Sector Alumni Award for his work as president of the New York City Economic Development Corp.

    Jannotta, a Life Trustee, served as Chairman of the Board of Trustees from 1999 to 2003. He received an honorary LL.D. from the University in June 2004.

    A senior director of William Blair & Co. L.L.C., Jannotta became Chair of the Investment Committee in 1985. He served as Vice Chair of the Board from 1986 to 1996, and as a member of the Executive Committee from 1986 to 2003.

    He has been an enthusiastic and generous supporter of the University for more than three decades. As Chair of the Chicago Initiative, Jannotta spearheaded efforts to engage University Trustees in unprecedented ways, resulting in board member contributions of nearly $245 million toward the Chicago Initiative.

    Most recently, Jannotta and Alper have joined with James Crown, Chairman of the Board of Trustees, and University Trustees Robert Halperin (Ph.B.,’47) and Peter May (A.B.,’64, M.B.A.,’65) to create a matching fund for College scholarships. Together they have committed $17 million that provides $1 dollar for every $2 alumni and friends give to create the new, endowed scholarships in the College.

    The scholarship challenge is part of a campaign goal to increase support for human capital at the University. In addition to the scholarship funds, the campaign also seeks faculty support.

    The Chicago Initiative already has changed the face of the University in many ways, including providing support for construction projects. For instance, the Center for Integrative Science, formerly called the Interdivisional Research Building, opened last month to scientists in the Biological Sciences Division, and in August, researchers from the Physical Sciences Division will begin to move into the building.