Rutgers Receives $5 Million From Prudential for Business School

Rutgers Business School in Newark, New Jersey, has announced a $5 million contribution from Prudential Financial to help establish a new home for the school and to endow a chair.

Some $3 million of the gift will be used to endow the chair, while the remaining $2 million will be used to help create a center dedicated to business ethics and leadership in the business, nonprofit, and philanthropic sectors. Arthur F. Ryan, who recently retired as Prudential's CEO and plans to retire as chairman of the company next month, said the new center will offer a rich educational experience to students and will also be an innovative and distinctive resource for today's business leadership.

"Prudential has been an extraordinarily important force in the growth and revitalization of the city of Newark," said Rutgers-Newark provost Steven J. Diner. "In supporting our new business school campaign, Prudential has made a powerful statement about the importance of Rutgers Business School to the future economy of Newark and New Jersey."