Board Nominates Alumni Trustees

January 31, 2005

Five alumni have been nominated to Duke's board of trustees by the executive committee of the board of directors of the Duke Alumni Association. Robin A. Ferracone '75, David Rubenstein '70, and Alan D. Schwartz '72 will serve six-year terms, beginning July 1. Kenneth W. Hubbard '75 is nominated to fill the remaining two years of the six-year term of Melinda French Gates '86, M.B.A. '87, who retired from the board last year, and current trustee John J. Mack '68 has been nominated for a second six-year stint.

Duke's charter calls for the election of one-third of its trustees by graduates of the university. Every two years, in odd-numbered years, the terms of four of the twelve alumni trustees expire. The DAA's executive committee nominates and submits a list of names to the university secretary for submission to the trustees. Four names are then approved for final submission to the alumni body, with additional nominations permitted by petition.

Ferracone is a senior executive at Marsh & McLennan. Before joining the company, she was chairman of SCA Consulting, a firm she co-founded and sold to Mercer (a subsidiary of Marsh & McLennan) in 2001. Ferracone, who earned an M.B.A. at Harvard Graduate School of Business, has been on Trinity College's board of visitors since 2001. From 1999 to 2004, she was a member of Duke's Regional Campaign Council. She is married to Stewart R. Smith and her stepson, Logan, is a senior at Duke.

Hubbard, who will be eligible for a six-year term after filling Gates' term, is an executive vice president of Hines, a global real-estate firm. He is responsible for the acquisition, development, or management of commercial properties and the development of mixed-use projects in seven states in the eastern U.S. and the District of Columbia.

Hubbard, who earned his law degree at Georgetown University in 1968, was a member of Duke's Trinity College board of visitors from 1994 to 2000 and the Arts & Sciences Campaign Committee from 2000 to 2004. He and his wife, Victoria Dauphinot, have four children.

Mack, a Duke trustee since 1997, has been chief executive officer of Credit Suisse First Boston since 2001 and co-CEO of Credit Suisse Group since 2003. He worked for nearly three decades at Morgan Stanley, rising steadily from vice president to principal to managing director. He became a member of its board of directors in 1987, was named president in 1993, then chief operating officer and director of Morgan Stanley Dean Whitter & Company when the two merged. He is a trustee of the Doris Duke Charitable Foundation and on the international advisory panel for the Monetary Authority of Singapore. He is a member of the New York Stock Exchange's Board of Executives and vice chair of NYC2012, the committee leading New York's bid for the 2012 Olympic Games. He serves on the board of visitors for the Fuqua School of Business.

Rubenstein is co-founder and managing director of the Carlyle Group, one of the world's largest private equity firms. He earned his law degree at the University of Chicago. He served in the Carter administration as deputy assistant to the president for domestic policy and was a partner in the Washington law firm Shaw, Pittman, Potts & Trowbridge. He is a member of the Trilateral Commission, the board of trustees for Johns Hopkins University, and the board of advisers for J.P. Morgan Chase. A member of the board of visitors for the Sanford Institute of Public Policy from 1991 to 1998, he is a contributor to the Sanford Institute's expansion, to be completed next fall. Rubenstein Hall, the forthcoming addition, was named in his honor. He and his wife, Alice Rogoff, have three children.

Schwartz has been president and co-chief operating officer of the Bear Stearns Companies Inc., a leading worldwide investment banking and securities trading and brokerage firm, since 2001. He joined the company in 1976, was named director of research and head investment strategist in 1979, and became executive vice president and head of its investment banking division in 1985. He has been a member of the Fuqua School's board of visitors since 1986, which he now chairs. He has also served on Duke's Campaign Steering Committee, the Athletics Advisory Board, and the New York Leadership Board. He is married to Nancy Seaman and has five children, including Jennifer K. Schwartz '03.

After notice appears in print, alumni may submit a petition within thirty days signed by one-half of 1 percent (612) of the alumni body (124,000) to nominate additional candidates. Alumni director Sterly Wilder '83 maintains a confidential roster of alumni recommended as trustees and encourages alumni to submit nominations to her at any time.

The next election will be for terms that expire in 2005. Please send names and biographical information by January 30, 2005, to Wilder at Alumni House, 614 Chapel Drive, Box 90572, Durham, N.C. 27708.