NEW YORK, March 12 / PRNewswire /  --  The Leonard N. Stern School of Business at New York University today announced the appointment of Clinical Professor Roy C. Smith as the first Kenneth Langone Professor of  Entrepreneurship and Finance.  This is the first time in Stern history that a non-tenured faculty member without a traditional academic background has received a chaired appointment.  The Chair was endowed by Kenneth G. Langone, president of the investment banking firm Invemed Associates, Inc.

Stern's Dean George Daly said: "Entrepreneurial studies are a key component of the Stern MBA Program, reflecting the growing importance of entrepreneurs as engines of economic growth.  We are honored that one of this country's leading financial entrepreneurs, Ken Langone, has generously endowed our school with a Chair."

"It is also fitting that the first appointment to this Chair is Professor Roy Smith, who brings exceptional professional credentials from the business and financial world to the academic community," Daly added.

Roy Smith joined Stern's faculty in 1988 from Goldman Sachs, where he was a partner specializing in international finance.  He teaches in the areas of international business, investment banking, and entrepreneurial finance, recently chairing the Steering Committee for Entrepreneurial Education at Stern.  Smith has written several books on banking and finance, the most recent of which include "Global Banking" (1997) and "Street Smarts" (1997), co-authored with Stern professor Ingo Walter.

A graduate of the Stern MBA Program (1960), Kenneth Langone is a member of the Stern's Board of Overseers and NYU's Board of Trustees.

The Leonard N. Stern School of Business at New York University is a world leader in business education.  Stern's New York City location promotes close relationships with the international business community, offering students unique educational and professional opportunities.  Now in its 100th anniversary year, NYU Stern has graduated a large number of alumni who are prominent among the ranks of America's top CEOs.  Dean George Daly has led NYU Stern through a dynamic period of growth over the past six years.  For further information, visit NYU Stern's website at www.stern.nyu.edu

/CONTACT:  Laura J. Young, Director, Communications of the Leonard N. Stern School of Business at New York University, 212-998-0672 /  12:45 EST