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More than 75 members of the University's academic community gathered on Monday, August 23 at the Montrose Mansion of the Villanova Conference Center for a reception and dinner honoring Dr. David N. Nawrocki, inaugural recipient of the Katherine M. Salisbury and Richard J. Salisbury Jr. Professorship in the College of Commerce and Finance.

Following welcome remarks by Dr. John R. Johannes, vice president for Academic Affairs   and an invocation   by the Rev. John J. Farrell, O.S.A., Ph.D., University president, the Rev. Edmund J. Dobbin, O.S.A., S.T.D. reminded guests of the importance of bequests such as the one provided by Richard J. Salisbury Jr. "Salisbury's love for his alma mater and the bequest that embodies it will provide a living tribute to his vision of the transforming power of the Villanova experience," he said. "The establishment and implementation of this professorship appropriately honors and recognizes Richard J. Salisbury who had no heirs and his mother Katherine for their generous commitment to the University. The professorship in the College of Commerce and Finance will elevate the stature of the College while recognizing the critical importance of teaching and research within the context of Villanova's unique Augustinian heritage."

Salisbury graduated from the College of Commerce and Finance in 1958 with a degree in economics and rose to become vice president for Investments at Salomon Smith Barney.  He was a benefactor of music, the arts and education in Albany, N.Y. where he lived. He also supported Villanova, one of his great passions through increasing contributions to the University's Annual Fund.  He was a founding member of the President's Club.

The recipient of the inaugural professorship in the College of Commerce and Finance is David N. Nawrocki, a professor of finance.  Dr. Nawrocki joined the faculty in 1981.  He holds and MBA and a Ph.D. in finance from Pennsylvania State University. As the founding director of the Institute for Research in Applied Financial Technology (IRAFT) at Villanova, Nawrocki's research interests include work in financial market theory, downside-risk measures, systems theory, portfolio theory and business cycles.  His research articles have appeared in many journals including the Journal of Financial and Quantitative Analysis, Financial Review, International Review of Financial Analysis, Journal of Business Finance and Accounting, Applied Economics, Journal of Financial Education and the Journal of Financial Planning. Dr. Nawrocki also has presented more than 40 papers at national and regional professional meetings predominantly presenting data on financial issues and markets.

He also is a member of the editorial advisory board of the Journal of Financial Planning and is an associate editor at International Review of Financial Analysis.