March 3, 2004

McMaster University hires Bay Street veteran to lead DeGroote School of Business

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Bay Street Veteran Paul Bates was named Dean of McMaster University’s DeGroote School of Business. Bates is pictured with students at the School’s Allen H. Gould Trading Floor, Hamilton campus. Bates has a distinguished career in investment dealing and wealth management. He is a member of the Ontario Securities Commission and a part-time faculty member of the University of Toronto Rotman School of Management's Marketing Faculty.

Hamilton, ON - McMaster University has reached into Bay Street by appointing Paul Bates its new Dean of Business.

Bates will begin his term July 1, 2004 as dean of the University's DeGroote School of Business, said McMaster University President Peter George. A search committee composed of faculty, students, staff and the business school’s advisory committee nominated him. The University’s vice-president academic chaired the search committee.

Bates has a distinguished career in investment dealing and wealth management. A member of the Ontario Securities Commission, he is also a part-time faculty member of the University of Toronto’s Rotman School of Management.

“Paul Bates brings direct knowledge, expertise, networking, leadership from the business world and a demonstrated empathy for the academic vision of the school,” said Dr. George. “His solid business credentials and achievements will benefit students, faculty, the University and the academic community. Our new business dean will help us to continue our efforts in fostering superior research, relevance and creativity, building on McMaster’s earned reputation of innovation and discovery.”

The new designated dean was head of Charles Schwab Canada until it was acquired by Bank of Nova Scotia two years ago. Investment Executive Magazine named him Canada's most influential broker in 2000. He is an experienced entrepreneur, author, radio show host, investment industry participant and philanthropist.

Bates said he felt very privileged to be assuming his new duties at the DeGroote School of Business.

“The school has a strong legacy of research and innovation, including pioneering MBA co-operative education,” said Bates. “I am looking forward to working with new colleagues inside DeGroote, across the entire McMaster University community and with colleagues outside the school. With focus and teamwork, my objective will be to raise the bar yet again in terms of creating a rewarding experience for students, a stimulating environment for faculty and staff and serving the community, locally, nationally and internationally.”

In 2002, Bates received the Queen's Jubilee Medal for community service. Last year he obtained an Outstanding Teacher Award from the Joseph L. Rotman School of Management, together with an Arbor Award from the University of Toronto. He authored Sales Force Management in the Financial Services, which is being released this spring in second edition by Carswell.

In welcoming the appointment of his successor, Business School Dean Vishwanath Baba said that business schools are entering a new era of global competition.

“It is no longer sufficient to simply generate intellectual capital; it has to be intelligently invested for
substantial reputational returns. I think Paul Bates is very well equipped to do just that. I am sure under his leadership, the DeGroote School will reach even greater heights.”

University Provost and Vice President Academic Ken Norrie said the search committee took several months to consider a large number of both internal and external candidates.

“Bates was chosen because of his unique background as an industry professional, his business leadership, communications skills, team building approach and ability to network the school into the business community. His unique background will also provide new perspectives around the campus.”

A resident of Oakville Ont., Bates has several investment dealing and brokerage designations. In addition to his leadership position at Charles Schwab Canada, he has been president and chief operating officer of TD Greenline Canada (now TD Waterhouse), president and C.O.O. of Marathon Brokerage and vice-president, wealth management and advisory services of Royal Trust. He is a graduate of Cornwall Technical College, Great Britain with a major in English literature.

The University's DeGroote School of Business, the first named business school in Canada, has 1,900 undergraduate students and 407 MBA students enrolled in full-time, co-op and part-time studies. The school has 82 full-time and part-time professors, supported by 39 staff members.