Peter T. Paul Pledges $1.5 Million to Fund Boston University Career Development Professorships

in News Releases, University Affairs
May 31st, 2006

Contact: Phil Gloudemans, 617-353-6546 | philipg@bu.edu

(Boston) – Entrepreneur and philanthropist Peter T. Paul, president of Paul Financial, LLC, and owner and chairman of Grove Street Winery, has pledged $1.5 million over five years to support 10 career development professorships to be awarded to deserving young faculty, announced Boston University (BU) President Robert A. Brown.

“The Career Development Professors started by Peter Paul will launch the careers of future generations of new faculty at Boston University,” said Dr. Brown. “This forward- looking gift will support the future excellence of our university.”

Each professorship will be awarded competitively for a three-year term to faculty member in the first two years of their appointment to BU, irrespective of discipline. The president and the provost will select the awardees, starting in fall 2006, among the nominees proposed by the respective deans.

“I am very impressed by Bob Brown’s leadership, and my pledge reflects my commitment to help him bring BU to the next level of urban research universities,” said Paul, an alumnus of BU’s Graduate School of Management (`71). “By recruiting and retaining some of the best and the brightest young professors, and by attracting partners to financially support this endeavor in the future, I’m confident that Boston University’s educational quality and stature as an institution will be significantly enhanced.”

Prior to the formation of Paul Financial, a wholesale mortgage banking firm based in San Rafael, California, Paul was founder and president of Headlands Mortgage Company, one of the premier lending institutions in the country. After leading Headlands through a successful IPO that raised more than $110 million in 1998, Paul negotiated its subsequent merger with GreenPoint Financial in March `99, a transaction valued at approximately $475 million.

Paul became president and CEO of GreenPoint Mortgage and vice chairman of GreenPoint Financial (NYSE:GPT) after the merger was completed in 1999. In January 2000, he became president and CEO of GreenPoint Credit, a leading mortgage lender in the manufactured housing industry, where he helped to restructure the company. In July 2003, Paul resigned from GreenPoint’s board.

With more than 25 years of experience in mortgage banking and financial services, Paul served on the board of directors of Federal Agricultural Mortgage Corp. (NYSE:AGM) from 1998 to 2004, and Sequoia National Bank from 2001-05 (SQNB:OB). Ernst & Young recognized him in 1999 as Financial Services Entrepreneur of the Year.

Paul earned a B.S. in Business Administration from the University of New Hampshire and currently serves on the board of directors of the UNH Foundation.

Paul, whose father graduated from the BU School of Medicine (`37), was named a Boston University trustee in December 2005. He was appointed to the BU Board of Overseers in December 2004, and he has served on the School of Management (SMG) Dean’s Advisory Council since May 2002. SMG honored him in 2003 with an Alumni Award for Distinguished Service.

Paul also founded and serves as chairman of the Headlands Foundation, which raises funds for Bay Area underprivileged children and their families, and he’s an avid supporter of the Russian Arts Foundation, which promotes events within and outside Russia, including performances by the Russian National Orchestra.

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