FOCUS ON THE FUTURE STRENGTHEN OUR ACADEMIC COMMUNITY SPEAK ON A GLOBAL STAGE BE EXCELLENT AT EVERY TOUCHPOINT McCombs School of Business “One of the words we used to describe our goals with this building was ‘showcase.’ We have been able Contents to do so in so many different ways, showcasing the school and the city of Austin.” 2 From the Dean 4 Ye a r In Review TINA MABLEY, assistant dean and director of the full-time MBA program, about the opening of Robert B. Rowling Hall. Strategic Plan: Successes and New Initiatives See “Rowling Ahead,” page 16. 6 8 Focus on the Future 12 Strengthen Our Academic Community 16 Be Excellent at Every Touchpoint 20 Speak on a Global Stage 24 Rankings 26 Appointments and Promotions 28 Awards and Achievements 30 Key Events 32 Program Profiles 44 Advisory Leadership 2 McCOMBS.UTEXAS.EDU DEAN’S REPORT 2019 1 From the Dean TO MOVE INTO THE FUTURE BOLDLY, institutions must assess But we still have much work to do. Our next large-scale their strengths, identify what sets them apart, define physical project is the modernization of our undergradu- their guiding principles, and chart a clear path forward ate educational spaces at 21st and Speedway. In moving with solid milestones. Several years ago, when I began forward with that endeavor, we seek to stride confidently my tenure as dean, we started this process at McCombs. into a future where our physical presence and capacity Our process yielded many valuable insights, and now are world-class, equal to our position among our top we are making significant inroads towards achieving the business school peers. strategic goals that came out of that planning. Many of Our new marketing efforts are moving swiftly into our alumni, friends, and corporate partners have been the execution phase, with streamlined new digital pro- deeply involved and we are grateful. gramming and an integrated approach to marketing We all have much to be proud of, and in this dean’s across programs underway all based on our recent report for 2019, we celebrate some of the highlights of rebranding initiative. our past year’s success. And we continue to re-assess our executive leadership We have completed a brilliant new graduate school needs, with a search now underway for a senior associ- building, Rowling Hall, and its first year of operations ate dean and chief operating officer, a new role that will has proven it to be an exceptionally well-equipped enable us to consolidate finance, facilities, IT, and HR center for state-of-the-art learning and community functions under one office. building as well as an amazing space for business and All these goals and achievements would not be possi- academic events. ble without our accomplished, energetic, visionary sup- We have strengthened our analytics, entrepreneur- porters. We look to them for guidance and help, and they ship, and leadership offerings, building upon our natural never fail to inspire us with a willingness to roll up their strengths in order to elevate our profile among top sleeves and offer wisdom, generosity, and hard work. business schools. The future of McCombs is ours to create. As we move We are building toward our goal of speaking on a global forward together, we are proud to share in this dean's stage by strengthening our relationships with alumni report some of the stories of our past year's success. leaders in Europe and Asia, as well as key cities in the United States, especially New York and the Bay Area. And we have continued to receive financial and pro- grammatic support from alumni, friends, and corporate partners, enabling us to strengthen our scholarship JAY HARTZELL programs, upgrade our facilities, and pursue and retain DEAN AND CENTENNIAL CHAIR superstar teachers and researchers. IN BUSINESS EDUCATION LEADERSHIP 2 McCOMBS.UTEXAS.EDU DEAN’S REPORT 2019 3 Year in Review TOP STORIES AT Mc COMBS 2018-19 Transformational Gift Boosts Undergraduate Education Weekend MBAs Get New Dallas Home The McCombs School’s elite undergraduate program was bestowed In 2019, the McCombs Dallas Weekend MBA Program relocated this year with a transformational gift and a new name, the Canfield to a sleek new 17,000-square-foot space in The Centrum building Business Honors Program. A $20 million contribution from Phil near downtown Dallas. The location offers interactive classrooms, Canfield, BBA ’89, and his wife, Mary Beth, includes funds for full- offices, meeting and study rooms, and collaboration spaces. The Uptown space is ideal for meetings and events, making it easier to tuition scholarships, increased nationwide recruitment, and foster strong relationships with Dallas alumni, business leaders, and enhanced national reputation-building for the highly competitive prospective students. Neighbors at The Centrum also offer inter- program. “The BHP gave me all the fundamentals that I needed to action with Capital Factory, SalesForce, and the University of Texas have a successful career in business, and for that, I am truly and System. In tandem with this move, McCombs is seeking merit-based eternally grateful,” said Phil. “In many ways, you can think about this fellowship support for its Working Professionals programs. gift as just a dividend back to The University of Texas at Austin for the investment made in me 30 years ago.” UT Takes Enormous Strides in College Affordability Worldwide Media Attention for John Griffin’s Bitcoin Research UT Raises Flag at SXSW Tuition assistance for in-state students from middle- and low-in- Professor of Finance John Griffin’s research about bitcoin The McCombs School and UT took advantage of our hometown come families was significantly increased by the University of Texas manipulation captured worldwide media attention over the past advantage at the massive tech, film, and music conference SXSW System Board of Regents. The change represents one of the largest year. Griffin and his co-author, Amin Shams, wanted to know wheth- in March 2019. The PitchTexas competition awarded a total of financial aid commitments in the nation to improve affordability er bitcoin’s epic bull run in 2017 happened organically. Their analysis $50,000 in prize money, followed by a celebratory parade led by among top public research universities. Under the leadership of showed that around half of bitcoin’s value between March 2017 and the Longhorn band down 6th Street to a UT party. Several Texas Chairman Kevin Eltife, BBA ’81, and Chancellor James B. Milliken, the March 2018 was created by trades between bitcoin and tether, a McCombs faculty and alumni spoke during presentations and regents voted unanimously in July to establish a $160 million endow- so-called stablecoin with links to the British Virgin Islands-based panels at SXSW Interactive, and thousands of volunteers acted as ment from the state’s Permanent University Fund that will generate Bitfinex bitcoin and cryptocurrency exchange. As bitcoin’s price Longhorn ambassadors in branded T-shirts sponsored by money for financial assistance starting in fall 2020. The new endow- continued to fluctuate throughout 2018-19, Griffin’s and Sham’s the university. ment will greatly expand UT Austin’s Texas Advance Commitment research was cited nearly 2,000 times in media outlets across the program for Texas undergraduates, providing complete tuition globe, earning nearly $3 million in media coverage value for coverage to more than 8,600 students a year from families earning McCombs. The paper was the fourth most downloaded academic up to $65,000, and assured tuition support to an additional 5,700 paper on SSRN, the social sciences research network, during the students from families earning up to $125,000. 12-month period after its release. 4 McCOMBS.UTEXAS.EDU DEAN’S REPORT 2019 5 DEAN’S STRATEGIC PLAN Over the past year, Texas McCombs made 3. BE EXCELLENT AT EVERY TOUCHPOINT key advances toward the execution of our strategic Every step in the McCombs journey offers an plan as we continued to work toward the goals optimal experience for constituents, such as welcoming guests to our gleaming new gradu- embodied in our four strategic pillars. ate school building, Rowling Hall. 4. SPEAK ON A GLOBAL STAGE Engagement across influential channels and geographic centers includes increased faculty 1. FOCUS ON THE FUTURE research publicity efforts and initiatives to raise Our research and teaching produce knowledge and the profile of the school and its students on leadership skills for a positive impact, like the new joint both the East and West coasts. Master’s in Health Care Transformation with Dell Medical School. Texas McCombs sets 4. CREATE A VIBRANT big goals — and achieves Capital Campaign FUTURE FOR TEXAS 2. STRENGTHEN OUR them. Our aim: To be AND BEYOND ACADEMIC COMMUNITY widely recognized as Serve as a base for the one of the top sources of 2. RECRUIT AND umbrella organization Texas McCombs invests in attracting and thought and talent that RETAIN THE WORLD’S Energy@UT, increase retaining top-tier students, staff, and faculty, lead and shape business 1. ATTRACT BEST FACULTY student access to entrepre- such as star Finance Professor and Department and society. To do that, TOP STUDENTS Establish one or more 3. TRANSFORM neurial degree and course Chair Sheridan Titman. significant support is Increase scholarship University Distinguished HEALTH CARE offerings, establish an needed. Alumni and packages, expand academ- Chairs in each academic Fund the Value Institute for endowment for teaching friends are invited to ic offerings, modernize department along with Health and Care and create ethical leadership, invest in a robust vision facilities, and establish a Distinguished Faculty endowed faculty chairs and harness our data focused on four initiatives. New York satellite office. Endowments. and professorships.