Purdue names well-known economist, Fed leader as first dean of Daniels School of Business

Jim Bullard

Purdue University on Thursday named Jim Bullard, a longtime Federal Reserve Bank leader and economist, the inaugural dean of the Mitchell E. Daniels Jr. School of Business.

Bullard has spent the last 15 years as president and CEO of the Federal Reserve Bank of St. Louis, making him the longest-serving sitting president of a Federal Reserve bank, according to Purdue.

He will begin on Aug. 15 and joins the university at a pivotal time as it looks to invest in and grow its former Krannert School of Management under a new name. Purdue announced in February it would name its expanded business school after Daniels, former Purdue president and Indiana governor.

“I am humbled and beyond thrilled to be asked to lead the Daniels School of Business, named for one of the most influential fiscal leaders of our time,” Bullard said in a written statement. “Purdue is known around the world for forward-thinking innovation. I will work to foster that spirit, and I think I can bring some real-world experience to pass on to the next generation of business leaders and innovators.”

Bullard also was named a special adviser to Purdue President Mung Chiang.

“Dr. Bullard has been an extraordinary leader for our country and will be a transformational leader of Purdue’s Daniels School of Business. His track record has the perfect combination of national impact, scholarly excellence, and innovative leadership through 15 years as president of the St. Louis Federal Reserve Bank,” Chiang said in written remarks. “Today’s exciting recruitment is a singular, extraordinary moment for the future of DSB and the tech-driven, free-market economy.”

Bullard is known for his leadership within the Federal Open Market Committee and, in 2014, The Economist named Bullard among its more influential economists in the world. For the last 15 years, Bullard has directed the activities of the Federal Reserve’s Eighth District, which branches into several states, including an extensive portion of southern Indiana.

A transition steering committee co-led by Purdue Board of Trustees Vice Chair Gary Lehman and Purdue University Research Center in Economics Director Kevin Mumford recommended Bullard following an extensive, international search dating to December.

Born in Wisconsin, Bullard grew up in Forest Lake, Minnesota, and received his doctorate in economics from Indiana University in Bloomington. He holds bachelor’s degrees in economics and in quantitative methods and information systems from St. Cloud State University in St. Cloud, Minnesota.

Chiang and Patrick Wolfe, provost and executive vice president for academic affairs and diversity, officially appointed Bullard to the position.

“Jim’s experience base, credentials and perspective are exactly the right match to enhance scholarly excellence and develop globally leading thinkers at our Mitchell E. Daniels, Jr. School of Business,” Wolfe said in written comments. “His visionary leadership will take the Daniels School of Business to new heights while building on current Purdue strengths and deepening the impact of our other two key strategic priorities: Purdue Computes and Purdue University in Indianapolis. I am extremely grateful to our Transition Steering Committee and to all who contributed to this search and its stellar outcome.”

Purdue announced in February that it was naming its “reimagined” business school after former Indiana Gov. and Purdue President Daniels. Daniels retired as Purdue’s 12th president in December after 10 years in the role. The university said the announcement marks the first time its business school will have a formal name.

The announcement comes following a string of recent donations to the reimagined business school, including $10 million from longtime Purdue benefactors Norman and Karen Blake, another $10 million from Purdue alumnus Gerald Lyles and his wife, Nanette, and $50 million from the Dean and Barbara White Family Foundation.