Purdue announces first dean of Daniels School of Business
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Purdue University has announced the first leader of its reimagined business school.
University officials on Thursday named Jim Bullard, a longstanding Federal Reserve Bank chief and economist, the inaugural Dr. Samuel R. Allen Dean of the Mitchell E. Daniels, Jr. School of Business.
He will begin on Aug. 15 and joins the university at a pivotal time as it looks to invest and grow its former Krannert School of Management under a new name. Purdue announced in February it would name its expanded business school after its former president and state governor, Mitch Daniels
“I am humbled and beyond thrilled to be asked to lead the Daniels School of Business, named for one of the most influential fiscal leaders of our time,” Bullard said in a Purdue news release. “Purdue is known around the world for forward-thinking innovation. I will work to foster that spirit, and I think I can bring some real-world experience to pass on to the next generation of business leaders and innovators.”
President Mung Chiang speaks to IIB about Bullard’s transition to Purdue.
Bullard has spent the last 15 years as president and CEO of the Federal Reserve Bank of St. Louis, making him the longest-serving, sitting president of a Federal Reserve Bank, according to Purdue.
As director of the Federal Reserve’s Eighth District, Bullard has experience working in markets across several states, including a portion of southern Indiana. He was born in Wisconsin, raised in Minnesota and studied economics and quantitative methods and information systems at St. Cloud State University in St. Cloud, Minnesota. He also holds a doctorate in economics from Indiana University Bloomington.
“Today is a fantastic day for Purdue and for the Daniels School of Business because we’re able to recruit a truly exceptional new dean, the inaugural dean of the Daniels School of Business, Dr. Jim Bullard,” Purdue President Mung Chiang told Inside Indiana Business.
Bullard is known for his leadership within the Federal Open Market Committee and, in 2014, The Economist named Bullard among its most influential economists in the world. Macroeconomic Advisers named Bullard the biggest mover of markets in 2011 and 2013.
Chiang applauded his reputation as “one of the most prominent national leaders in monetary policy” and “one of the most creative, innovative, influential voices and economists in the world.”
Chiang discusses growth of business programs at Purdue.
A transition steering committee co-led by Purdue Board of Trustees Vice Chair Gary Lehman and Purdue University Research Center in Economics Director Kevin Mumford recommended Bullard following an extensive, international search dating back to December 2022.
Chiang and Patrick Wolfe, provost and executive vice president for academic affairs and diversity, officially appointed Bullard to the position.
“Jim’s experience base, credentials and perspective are exactly the right match to enhance scholarly excellence and develop globally leading thinkers at our Mitchell E. Daniels, Jr. School of Business,” Wolfe said in the university’s release. “His visionary leadership will take the Daniels School of Business to new heights while building on current Purdue strengths and deepening the impact of our other two key strategic priorities: Purdue Computes and Purdue University in Indianapolis.”
Since its February launch, the Daniels School of Business, or DSB, has established three prongs for getting started: recruiting talents, securing resources and developing strategies. While Bullard’s hiring falls under the first category, the university has announced several major gifts propelling its second and third goals forward.
A string of recent donations include $10 million from longtime Purdue benefactors Norman and Karen Blake, another $10 million from Purdue alumnus Gerald Lyles and his wife, Nanette, and $50 million from the Dean and Barbara White Family Foundation.
In addition to serving as the first DSB dean, Bullard has also been appointed Special Advisor to the President where Chiang said the incoming dean will bring his “rich talent and experience” to a university-wide role. Chiang said he anticipates a smooth transition over the coming weeks.
“This is a great day for Purdue and DSB,” Chiang said. “We welcome Dr. Bullard with great enthusiasm and excitement.”