William E. Simon Graduate School of Business Administration - History

History

The University of Rochester started a small business program in 1958, and awarded its first MBA degree in 1962, but the School’s impact in the business world can really be traced to a later decision by then University President W. Allen Wallis to create a first-class business school in Rochester. In 1964, he recruited as dean a visionary who believed in the power of economics to solve a host of problems.

William H. Meckling—who would remain dean for 19 years—was already a noted economist when he arrived in Rochester, best known for his analysis and leadership in support of an all-volunteer U.S. armed service. As dean, he committed the School to an economics-based approach to problem solving, recruited a first-rate faculty, required that all research at the School have an empirical orientation, initiated new finance and accounting journals that incorporated economics, eliminated traditional boundaries between functional departments, and transformed what had been a small, undergraduate and evening business school into a leading graduate business program.

As a result of pioneering work by Meckling and Michael C. Jensen, one of the talented young faculty members he recruited, and groundbreaking work by other faculty members, the School became known for making enormous contributions in the critical areas of, and . The faculty’s contributions, in turn, helped shape the research agenda of a generation of business scholars around the globe, influencing teaching in graduate business programs and forever changing how many companies and executives in this country and abroad conduct business.

In 1986, another milestone in the School’s history occurred when the School was renamed the William E. Simon Graduate School of Business Administration. William E. Simon, a financial entrepreneur and former U.S. Treasury Secretary, believed strongly in the principles and ideals of the School. He offered not only his name, but also an enduring financial commitment to the School’s continued success. He chaired the Executive Advisory Committee from its inception in 1986 until his death in June 2000.

Today, the School flourishes and thrives as a leading business school, offering both the highest quality business education and cutting-edge research by an internationally renowned faculty. Mark Zupan - who succeeded Charles Plosser, the current President of the Federal Reserve Bank of Philadelphia - has served as Dean of the Simon School since 2004 and was reappointed to a second, five-year term, in January 2009.