London City Alliance Reception

Remarks by John J. DeGioia
London City Alliance Reception
Mandarin Oriental Hyde Park
London, United Kingdom
October 28, 2008

Welcome

Thank you Paul for that kind introduction…And thank you for your longtime dedication to the Georgetown family…

It is always a pleasure to be with you all tonight—our alumni and friends in London. There is such a strong Georgetown presence here, and I am very proud to see so many individuals coming together for the London City Alliance.

As you know, this new group is modeled after our very successful Wall Street Alliance in New York, which has already given so much to our community. It is especially gratifying to see a similar level of commitment and enthusiasm from our friends here in the Square Mile.

But today is special for an additional reason: the London City Alliance is yet another, exciting example of how our university is expanding its international presence. Just earlier today, I was at the opening of the Center for Transnational Legal Studies, a collaboration of 10 universities on five continents—coordinated by Georgetown Law Center—taking an active role in shaping the future of global law and education. I’ve just come from a closing event, which featured Lady Brenda Hale—the first woman ever to serve as a Law Lord. What this Center and the London City Alliance reflect is Georgetown’s evolution into a truly global university. We have, of course been an international institution for quite some time now… But in the new age of globalization, we are called to be something more: a global university, to the fullest extent…a university that engages and serves our world community.

Global Engagement

This, of course, is no small task. It requires that we wrestle with many dynamics on many fronts. And it requires our thoughtful engagement of numerous opportunities around the world for both service and scholarship. As we embrace this role, I would like to share with you a few examples of how we are strengthening our credentials as a global university…

• We are further developing our School of Foreign Service campus in Doha, Qatar, educating 146 students from 26 countries, including El Salvador, France, Kenya, Macedonia, Russia, and India…

• Our McDonough School of Business, in partnership with Esade, one of the leading business schools in Europe, launched a new Global Executive MBA program…

• We have developed a partnership with Universia, a network of universities throughout Spain, Portugal, and Latin America, linking 1,070 institutions and 10.1 million students … And last November, Georgetown and Universia.net launched a virtual academic journal focusing on the effects of globalization, competitiveness and governability in Latin America.

• We have opened liaison offices in Shanghai—through our relationship with Fudan University—and in Beijing…

• And also in China, we have established partnerships with the State Administration for Religious Affairs and the Central Party School…

• We are working in Africa and India, to share resources and talents we sometimes take for granted, in seeking to make a contribution in addressing the scourge of HIV/AIDS, still taking nearly 6,000 lives everyday.

• And we have also recognized a differentiating strength—our capacity to foster interreligious understanding. From our PhD program in religious pluralism…to the Prince Alwaleed Bin Talal Center for Muslim-Christian Understanding…to the Berkley Center for Religion, Peace, and World Affairs…to our program in the study of Jewish Civilization—which is now poised to become a full Center…Georgetown has embraced our unique position and privilege of engaging in this very important challenge—and we take very seriously this opportunity to be a vehicle for productive dialogue.

I could continue... But taking a step back, and looking for the continuity between them, we can start to see the ways in which Georgetown is seeking to respond to the opportunities, and to engage and address the challenges, inherent in our 21st century world. These opportunities are truly exciting. And these challenges demand the attention, expertise, and resources, which we are so fortunate to have at Georgetown.

Financial Crisis and Georgetown’s Response

Of course, all of what we do depends upon a strong financial platform. The current economic crisis has demanded our utmost diligence and attention. In order to sustain the health and strength of our financial footing, we are maintaining rigorous planning and budgeting, cost controls, enhanced fundraising, and a focus on strategic revenue growth. We have also brought in highly experienced professionals to manage key financial areas of the University, and we continue to make solid progress in our efforts to deepen and strengthen Georgetown.

There are a couple pieces of recent news that, I think, speak to the ultimate strength of our institution:

• First of all, fundraising efforts still continue an upward trajectory. In fiscal year 2008, we raised $147 million (about £91 million today) in new commitments—the second-best year in University history for new commitments.

• We also had the best year, ever, for cash raised— $109 million (£67.5 million today).

• And I am proud to report that in September, Standard & Poor’s raised Georgetown’s credit rating from a BBB+ to an A-. All of our efforts to enhance our financial platform, our stronger balance sheet, and our solid fundraising efforts, were factors in Standard & Poor’s decision. This could not have come at a better time.

We are very focused on sustaining the strongest possible framework. And while we are cognizant of the uncertainty—and the seriousness—of the current financial challenges, we are actively engaged in strengthening our resources and preparing our university for continued growth and development. I know that this is in no small part thanks to your generosity and your leadership as our esteemed alumni and friends.

Our Community, Our Strength

Now, of course, Georgetown’s financial platform, its engagement with the globalized economy and the world at-large, are only as strong as our people. Our community—our students, faculty, staff, and devoted alumni—ultimately give us the capacity to carry out our mission.

This is why I am so pleased to be launching a London City Alliance. All of you here tonight, have an important role to play, as both Hoyas and members of the financial services industry. As our global economy continues to evolve…and as Georgetown’s presence in the City of London—the capital of international finance—continues to grow…it is vital that we demonstrate leadership in this forum. I would argue that this is essential to the fulfillment of our efforts to evolve into a truly global university.

In this spirit, the goals of the Alliance are:

• To raise the profile of the University, its alumni, friends and parents in this community;

• To provide mentoring and scholarship support to current and future Georgetown students;

• To provide networking opportunities to alumni and students—and those in the Wall Street Alliance—who are interested in careers in the City of London; and

• To bolster the ties between Georgetown and the financial sector.

I have great hopes for this Alliance—for the ways in which it will strengthen our Georgetown family and enhance our work as a global university. So, thank you all for being here and being a part of this initiative at the ground level. And thank you for your sustained commitment to our university. I look forward to future meetings, future partnerships, and all that we will accomplish together in the spirit of Georgetown.

Thank you again…