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Rotman Family Gift in Support of Prosperity Research at the University of Toronto

Toronto, December 13, 2007 -- A new gift by the lead benefactors of the University of Toronto’s Joseph L. Rotman School of Management will greatly contribute to the study of jurisdictional advantage and prosperity in a newly established research centre.

The donation of $18-million by Sandra and Joseph L. Rotman was announced this evening at a dinner celebrating the naming of the Lloyd and Delphine Martin Prosperity Institute in honour of the parents of Roger Martin, Dean of the Rotman School. The Institute was established earlier this year by a landmark $50 million grant to the Rotman School by the Province of Ontario.

As previously announced, noted urban theorist Richard Florida is the inaugural academic director of the Institute. Prof. Florida, who joined the Rotman School in July 2007 as a professor of business and creativity, is well known for his work on economic competitiveness, demographic trends, and cultural and technological innovation.

“The Rotman family was visionary in its initial support of the School and we are delighted that they are reinvesting to help us develop a world-class research Institute that will compliment the internationally recognized research and teaching currently taking place at the School,” says Dean Roger Martin.

“Under Roger Martin’s leadership, in nine short years the Rotman School has emerged as a global innovator in business education,” says Joseph L. Rotman. “To demonstrate our immense respect for his ongoing contribution and impact, Sandra and I decided to pay tribute to Roger and his family by naming the Institute after his parents. The research conducted by the Lloyd and Delphine Martin Prosperity Institute will enable business leaders and policy makers to understand and implement the strategies needed to support Canada’s future prosperity.”

“Sandra and I are thrilled to be involved in an initiative that will benefit the collective prosperity of Canadians and contribute to the School’s global reputation for thought leadership,” he adds. “The naming of this Institute expresses our gratitude for an individual who has displayed the rare ability to transform business education with his thinking and vision. Roger has been, and continues to be, the key driver in making many of our dreams come true.”

Ten million dollars of the new Rotman gift will go towards the activities of the Institute, which will be housed in a newly-constructed expansion of the Rotman School. The expansion -- which has become necessary to accommodate the School's continued growth-- is expected to open in 2011, and will also be the home to other Rotman research centres and programs. The remaining $8 million will support various projects including the University of Toronto’s undergraduate Commerce program, offered jointly by the Faculty of Arts and Science and the Rotman School, which will be renamed the Rotman Commerce program; Rotman, the award winning magazine of the Rotman School; the new building fund; and ongoing academic research activities at the school.

In 1993, Sandra and Joseph L. Rotman made a gift of $3 million towards the construction of a new home for the University of Toronto's business school, which opened in 1996. In 1997, they made an additional gift of $15 million, and the School was aptly re-named in Joseph Rotman's honour. Since the initial gift, the Rotman School has risen steadily in international rankings of business schools. The School has increased the size of its MBA and PhD programs, and launched new programs including an innovative Three-Year Morning MBA, an Omnium Global Executive MBA, and a Master of Finance program. It has also attracted some of the world’s leading business school faculty and students from more than 30 countries around the world.

The Rotman School of Management at the University of Toronto is redesigning business education for the 21st century with a curriculum based on Integrative Thinking. Located in the world’s most diverse city, the Rotman School fosters a new way to think that enables the design of creative business solutions. The School is currently raising $200 million to ensure Canada has the world-class business school it deserves. For more information, visit http://www.rotman.utoronto.ca.