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CONTACT: BILL WINDAUER
Director of Development
UI College of Business Administration
UI Foundation News
500 Alumni Center
Iowa City IA 52242
(319) 335-3305
e-mail:wiliam-windauer@uiowa.edu

Release: Immediate

Gift allows professor to study financial markets in emerging economies

IOWA CITY, Iowa -- Jarjisu Sa-Aadu has been named the first Justice Professor in International Business at the University of Iowa College of Business Administration. He is chairman of the department of finance in the business college.

The professorship provides an annual faculty stipend. The position was established through a gift to the University of Iowa Foundation from Lucille Schwilck of Baltimore, a 1939 graduate of the UI College of Law. The professorship is titled the "Justice Professorship" because of Schwilck's concern for fairness to all people. She chose to benefit international business because of her interest in world affairs and to supplement a gift she made to that area several years ago.

Sa-Aadu, a native of Ghana, earned his undergraduate degree there before coming to the United States in 1973. He completed his doctorate at the University of Wisconsin-Madison in 1981, at which time he joined the faculty of the UI College of Business.

His recent work has focused on the establishment of financial markets in emerging nations of Africa. He has presented seminars on financial innovations in several countries, including Tanzania and Ghana. The Justice Professorship will allow Sa-Aadu to continue presenting seminars and will allow him to organize a conference in Iowa to help U.S. citizens learn more about conducting business in Africa.

"We are pleased to announce the appointment of Professor Sa-Aadu to this position," College of Business Administration Dean Gary Fethke said. "Miss Schwilck's gift will open the door to exchanges between Iowa and African nations. The Justice Professorship provides one more way for the College of Business Administration to participate in the rapidly developing global business arena."

Sa-Aadu said, "This professorship could not have come at a better time. I think that this area is the one where I can add the most value. The potential impact is tremendous. Ten years ago the financial infrastructure was nonexistent in these African nations. The Ghana stock market, for example, was established just eight years ago."

Sa-Aadu is editor of the Journal of African Finance and Economic Development. He is second vice president of the American Real Estate and Urban Economics Association and will become president in 2000.

In 1939 Lucille Schwilck left Iowa City to begin a job with a Des Moines law firm. In the 1940s she argued cases before the Iowa Supreme Court and later worked for the U.S. Department of the Interior, specializing in settling land disputes between the government and railroad companies. She left that job in 1964 and spent 12 years traveling the world, including a stint teaching English to students in Chile.

In Baltimore she teaches English as a second language, volunteers at a local library, and is active in community activities.

The University of Iowa Foundation is the preferred channel of support for private contributions to all areas of the University of Iowa. Foundation staff work with alumni and friends to provide resources for professorships, scholarships, building renovations, equipment, technology, and other forms of support for the UI.

6/12/97