The University of Pennsylvania has announced a $10 million endowment gift from the New York City-based W.P. Carey Foundation in support of the JD/MBA program at UPenn Law School and the Wharton School.
The dual program, which was established in 2009, offers an integrated, accelerated course of study in which students earn both degrees in three years rather than the five it would typically take to earn each degree separately. Students enrolled in the program spend their first year in the law school and the following summer in law and Wharton courses designed specifically for the program, along with a joint capstone course.
The program will be renamed the Francis J. & Wm. Polk Carey JD/MBA Program in memory of brothers Francis J. Carey (C'45, G'47, L'49), former chair and director of the corporate financing firm W.P. Carey, and William Polk Carey (W'53), the firm's founder. William Polk Carey died in 2012, while Francis J. Carey passed in 2014.
"With the generous support of the Carey Foundation, our students will continue to be positioned as innovators in the business world," said Wendell Pritchett, interim dean at Penn Law. "Our JD/MBA program combines the resources of an elite law school with a top-ranked business school, and our students use their cross-disciplinary education to confront the complex challenges facing today’s corporate leaders."