21 JANUARY 1997

TORONTO -- Paul J. Halpern, a professor of finance at the University of Toronto, has been named interim dean of the Joseph L. Rotman Faculty of Management, effective immediately, according to University of Toronto Vice President and Provost Adel S. Sedra.

Halpern will serve as interim dean until June 30, 1998, or until a new dean is appointed, whichever comes first. Sedra said he will shortly name a search committee that will be charged with conducting an international search for a new leader of the business school.

Halpern succeeds Dean Hugh J. Arnold, who left the University in January for a management consulting position in the private sector.

Halpern has been on the faculty of the University of Toronto since 1969, when he began as an assistant professor of finance. He has previously served as an administrator at the U of T business school, including holding the positions of Associate Dean (Graduate) from 1985 to 1990, and Associate Dean (Research) from 1991-'93. He also served as Director of the Doctoral Program at the Faculty from 1991-'93.

Halpern currently serves as director of the joint U of T LLB/MBA Program, a prestigious, popular program among students who earn both law and business degrees over four years. He plans to step down from the post.

Halpern teaches courses in the Business School in the MBA Program, Executive MBA Program, and in Executive Programs in corporate finance, capital markets, mergers and acquisitions, and financial strategy. He also teaches a popular course in the U of T Law School called "The Art of the Deal."

His research interests in the corporate finance area centre on corporate governance issues, leveraged buyouts, share recapitalization, and cross border acquisitions. He also has research interests in fixed income securities and short and long term Government of Canada auctions.

He has written more than 20 articles in refereed journals, including the Journal of Finance, the International Journal of Law and Economics, and the American Economic Review. He is also the co-author of the textbook, Canadian Managerial Finance (Harcourt Brace & Co.) He is the editor of a book on Capital Market Issues, which was the outcome of a major conference sponsored by Industry Canada. The book will be published in May 1997.

Halpern received both his PhD(1971) and MBA degrees (1967) from the University of Chicago, and his B. Comm. (1964) from the University of Toronto .

He is a member of the advisory board of Mergers and Acquisitions Canada; a member of the pension board for Fleet Aerospace and Chair of the Advisory Board of Canadian Investment Review. He also serves as a member of the board of directors and chair of the Research Committee of the Financial Research Foundation of Canada.

Past Directors of the University of Toronto School of Business and Past Deans of the Faculty of Management

V. W. Bladen Director, School of Business (1950-1954)

T. C. Graham Director, School of Business (1954-1960)

Warren Main Director, School of Business (1960-1971)

John Crispo Dean, Faculty of Management (1971-1975)

Max Clarkson Dean, Faculty of Management (1975-1980)

Douglas Tigert Dean, Faculty of Management (1980-1985)

Jack Sawyer Acting Dean, Faculty of Management (1985-1986)

Roger Wolff Dean, Faculty of Management (1985-1992)

Hugh J. Arnold Dean, Faculty of Management (1992-1997)

Paul Halpern Interim Dean, Faculty of Management (1997- )