Home > Update > December 2006 > Alumni Notes

Top Investment Managers Receive Distinguished
Business Alumnus Award

This fall, the School of Business presented its Distinguished Business Alumnus Award to two top investment managers who are alumni of the Applied Security Analysis Program (ASAP)—Phill Gross and Paul Leff.

The awards were presented at the ASAP Fall Investment Conference, held in October. The award presentations were made by Professor Emeritus Stephen Hawk, UW-Madison Chancellor John Wiley and School of Business Dean Michael Knetter.

“I enjoy opportunities to celebrate the accomplishments of distinguished alumni because they always show the power of partnerships,” said Chancellor Wiley. “The work of Phill Gross and Paul Leff and their contributions to making this a better, stronger university stand as compelling examples of those partnerships.”

Both men earned Bachelor of Business Administration degrees in finance and economics and Master of Science degrees in finance from the School of Business.

Phill Gross

Phill Gross, BBA ’82, MS ’83, is a co-founder and managing director of Adage Capital Management, a Boston-based $8.7B money management firm focused on managing S&P 500 assets predominantly for endowments and foundations such as Harvard University, Northwestern University, Dartmouth College, the American Red Cross and the Getty Foundation.

Prior to founding Adage, Gross was a healthcare and retail analyst, equity research director and partner at the Harvard Management Company for 18 years. When Gross and colleague Robert Atchinson left Harvard and founded Adage in 2001, Harvard gave them control of $1.8 billion in assets. Adage and its predecessor, Harvard University’s Select Equity group have been in the S&P 500 for 15 straight years.

Gross has served on several boards within the University of Wisconsin-Madison, including the Chancellor’s Board of Advisors, the UW Foundation Investment Committee and the advisory boards for the programs in Applied Security Analysis and Applied Corporate Finance at the School of Business. Gross is very involved with Shelter, Inc., one of the oldest homeless-serving agencies in Massachusetts, that provides emergency shelter, transitional housing, permanent supportive housing and other forms of supportive assistance to more than 3,000 people each year. Gross serves as chair of its Strategic Advisory Council and as a member of the board of directors.

Paul Leff

Paul Leff, BBA ’83, MS ’84, is co-founder and chief investment officer of Perry Partners, Ltd., a widely respected money management firm in New York. Founded in 1988, Perry Capital is an investment fund manager with approximately $12 billion under management and with offices in New York, London and Hong Kong.

Leff is actively involved with the University of Wisconsin-Madison, serving on the board of the UW Foundation, the School of Business Dean’s Advisory Board and the board of directors for the Applied Security Analysis Program. He is also scholarship chairman for the Wisconsin Eastern Alumni Scholarship Fund (WEASF) in New York. Established 35 years ago, WEASF seeks to send underprivileged minority students from public high schools throughout New York City to UW-Madison. Leff also mentors Wisconsin students and alumni interested in working on Wall Street.

The Distinguished Business Alumnus Award is given to graduates of the School of Business who not only achieve outstanding success in their career, but also have given back in meaningful ways to the community. In the school’s more than 100-year-history, only 71 individuals have been honored with this award.