Paulson & Co. founder, John A. Paulson has donated more than £2.5 million to fund new research and teaching on Europe's unique role in the post-crisis financial world at the London School of Economics and Political Science.
The gift will establish the John Paulson Chair in European Political Economy, a position which will be occupied by a leading scholar who combines expertise in finance, policy and the European Union with the reputation to speak to a global audience.
The chair will be located in LSE's European Institute which applies a broad range of academic disciplines to understand Europe's complex and developing role in the world. This comes at a time when the euro crisis has focused attention not only on the currency's future but also on how EU governments can restructure their politics, economies and social affairs in response.
It is hoped the holder of the chair will be able to take up the appointment in September. The donation also includes funding for an associated five-year research programme.
John Paulson founded Paulson & Co in 1994 and the investment management firm today manages approximately $36 billion. He received an MBA, with high distinction as a Baker Scholar, from Harvard Business School and graduated summa cum laude in Finance from New York University. Mr Paulson serves on the Board of Trustees of New York University, the Deans Advisory Board of the Harvard Business School and the Board of Trustees of the Spence School.
Mr Paulson said: 'I am honoured to partner with the London School of Economics to support critical research needed to ensure a stable and enduring European financial system.'
LSE Director Howard Davies said: 'Europe remains the world's largest trading bloc, but it faces serious challenges, focused particularly on the future of the Euro. This donation is therefore as timely as it is generous. It will enable scholars to examine the causes and the consequences of the crisis in a systematic and considered way and pass their knowledge and restructuring recommendations on to decision-makers.
'LSE is the ideal place to do this because of the European Institute's unique strengths, London's place as a world financial city and because LSE combines global reach with public and policy influence. We look forward to getting started on this important work, with gratitude to Mr Paulson.'
Among the research areas into which the new post will lead investigation are the emerging European Union arrangements of fiscal re-stabilisation, financial rescue and economic governance and the wider interplay between these, the future of the euro, European competitiveness, domestic management of public spending, and the political economy of European integration.
The European Institute is one of LSE's 23 academic departments and was founded in 1991. Headed by Professor Damian Chalmers, it has 25 academics who work across the fields of politics, economics, geography, history, political economy, law, philosophy and international relations. It was ranked first for research in the UK's Research Assessment Exercise and teaches about 200 masters students and 30 doctoral students every year.
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9 February 2011