Hollifield Selected To Become PNC Professor of Finance at Carnegie Mellon

  Hollifield Selected To Become PNC Professor of Finance at Carnegie Mellon

Newly Created Chair at CMU's Tepper School of Business is Endowed by PNC
Foundation

PR Newswire

PITTSBURGH, Nov. 27, 2012

PITTSBURGH, Nov. 27, 2012 /PRNewswire/ -- Burton Hollifield, a professor of
financial economics at Carnegie Mellon University's Tepper School of Business,
has been chosen as the first recipient of the PNC Professorship in Finance.
The newly created faculty chair has been made possible through an endowment by
the PNC Foundation to recognize excellence in teaching and sustained
achievements in developing impactful research for the financial community.

Professor Hollifield joined the faculty at Carnegie Mellon in 1998 and has
become highly regarded as a teacher in finance and investments, and as
researcher on a wide range of topics impacting world markets and financial
institutions. His recent research has examined the term-structure of interest
rates, the mortgage market and trading in over-the-counter financial markets.

"Our efforts in community and economic development often center on innovations
in finance," said Eva Blum, chair and president of the PNC Foundation. "We are
fortunate to have a faculty member of Professor Hollifield's caliber to assume
this chair."

"I've co-authored papers with professor Hollifield on several occasions," said
Richard Green, senior associate dean of faculty and research. "He approaches
financial markets and financial decision-making with an intense intellectual
curiosity and wide-ranging expertise.This has led him to many remarkable
findings in his research.The same factors inform his teaching. This new role,
which he will begin immediately, gives him the opportunity to continue and
expand the scope of this work."

Hollifield received the 2009 George Leland Bach Teaching Award by the Tepper
School's graduating MBA class, and the Tepper School's 2007 Business Teaching
Award, bestowed by the school's undergraduate teaching program. He served as
an assistant professor of finance at the University of British Columbia from
1991 to 1998. He received his master's degree and Ph.D. in financial economics
at Carnegie Mellon in 1989 and 1992, respectively. In 1987, he completed a
master's degree in economics from the Queens University at Kingston, Ontario,
Canada. He also holds a bachelor's degree in information systems from the
University of Calgary, which he completed in 1984.

About the PNC Foundation:
The PNC Foundation, which receives its principal funding from The PNC
Financial Services Group (www.pnc.com), actively supports organizations that
provide services for the benefit of communities in which it has a significant
presence. The foundation focuses its philanthropic mission on early childhood
education and community and economic development, which includes the arts and
culture. Through Grow Up Great, its signature cause that began in 2004, PNC
has created a $350 million, multi-year initiative to help prepare children
from birth to age 5 for success in school and life.

About the Tepper School of Business: Founded in 1949, the Tepper School of
Business at Carnegie Mellon University (www.tepper.cmu.edu) is a pioneer in
the field of management science and analytical decision-making. The school's
notable contributions to the intellectual community include eight Nobel
laureates. The schoolis among those institutions with the highest rate of
academic citations inthe fields of finance, operations research,
organizational behavior and production/operations. The academic offerings of
the Tepper School include undergraduate studies in business and economics,
graduate studies in business administration and financial engineering, and
doctoral studies.

SOURCE Tepper School of Business at Carnegie Mellon

Website: http://www.tepper.cmu.edu
Contact: Mark Burd, Tepper School of Business, +1-412-268-3486,
mdburd@andrew.cmu.edu; or Timothy Rice, PNC Financial Services Group,
+1-412-762-8033, timothy.rice@pnc.com