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HOWARD MARKS ENDOWS NEW PROFESSORSHIPHoward Marks, Beta Pi ’64, has endowed another professorship at Penn. According to the Daily Pennsylvanian, the purpose of the award is to encourage and support the recipient “to explore an intersection of business and behavior in the industry sector and apply the results to society”.

This award is dedicated to Wharton faculty involved in the area of behavioral economics and behavioral investing. Wharton Dean Erika James professes, “Howard’s generosity furthers this vision and is an investment in the faculty leaders who will guide Wharton students in this journey. We are sincerely grateful for his long-standing partnership with the School and the University, and for his support which elevates the work of such exceptional faculty”.

A professor of Business Economics and Public Policy, Judd B. Kessler, has been named as the first recipient of the Howard Marks Endowed Professorship.

Brother Marks has endowed numerous professorships and scholarships at Penn. The Penn internet publication, Knowledge for Good, summarizes his prior involvement with Penn and the communities he serves, both financially and service-oriented, as follows, “In addition to this newly established professorship, Marks has contributed to people and programs across the University, including the Howard Marks Professorship for faculty in economic history…as well as the Howard Marks Endowed Scholarship, which supports diverse undergraduate students residing in Los Angeles and Southern California. He established the Howard Marks Investor Speaker Series at Wharton to bring the insights of investors to campus for the undergraduate and MBA communities. He recently endowed the Marks Family Center for Excellence in Writing at Penn Arts & Sciences, a University-wide resource dedicated to teaching writing and creating a community of writers across Penn’s undergraduate schools.

Marks has led a career in finance and is the co-founder of Oaktree Capital Management. He is an accomplished writer and the author of two books: The Most Important Thing: Uncommon Sense for the Thoughtful Investor and Mastering the Market Cycle: Getting the Odds on Your Side. He earned his undergraduate degree in finance cum laude from the Wharton School in 1967, and his MBA in accounting from the University of Chicago Booth School of Business, where he received the George Hay Brown Prize. He is a CFA® charterholder. Marks is a trustee and a member of the Investment Committee at the Metropolitan Museum of Art, a member of the investment Committee of the Royal Drawing School, and a Professor of Practice at King’s Business School (both in London). He serves on the Shanghai International Financial Advisory Board of Duke Kunshan University.” CFA is an acronym for Chartered Financial Analyst, one of the highest distinctions in the investment management profession. Duke Kunshan University is located in China.

Speaking of his latest contribution to the Penn community, brother Marks states, “The behavioral aspects of economics and investing are something I’m most interested in, and I think understanding them often makes the difference between average participants and those who are exceptional. I am thrilled that this professorship will support such an important area of study, ensuring that today’s students understand and explore the intersection of behavior and business in the global marketplace, and advancing knowledge and outcomes in industry and community.”