MBA News: $10M Gift, New Name for Penn Law and Wharton JD/MBA Program

Thanks to a recent $10M donation from the W.P. Carey Foundation to the University of Pennsylvania (Penn), the school’s JD/MBA program will soon have a new name. The elite three-year program at Penn Law School and the Wharton School, established in 2009, will be designated the Francis J. & Wm. Polk Carey JD/MBA Program. A four-year JD/MBA program option will also bear the new name.

The W.P. Carey Foundation was established in 1990 by its late namesake, Wharton ’53 graduate and corporate real estate financing businessman William P. Carey, and concentrates on supporting educational institutions. The new program name is in memory of the founder and of his brother, Francis J. Carey, who graduated from Penn Law in 1949. “On behalf of the W. P. Carey Foundation we are proud to make this gift to Penn Law and Wharton,” said Jay Carey, Francis J. Carey’s son. “With this gift, we will ensure that the next generation of business leaders possesses the necessary legal acumen and the next generation of lawyers understands the intricacies of the corporate world, and in doing so we honor the memories of Frank and Bill Carey and the company they built, W. P. Carey.”

The JD/MBA program allows students to earn both degrees in three years’ time; in contrast, attending separate JD and MBA programs to earn the two degrees would require five years. “Our JD/MBA program combines the resources of an elite law school with a top-ranked business school,” said Wendell Pritchett, interim dean of Penn Law, “and our students use their cross-disciplinary education to confront the complex challenges facing today’s corporate leaders.”

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