July 18, 2006

Musumeci is new finance department chair

by Sun Min

CARBONDALE, Ill. -- There is new leadership in the Department of Finance, part of Southern Illinois University Carbondale’s College of Business and Administration.

James J. Musumeci, associate professor of finance, took over as chair of his department July 1. He replaces Hussein Elsaid, who retired after 39 years at SIUC, including the past 11 years as finance chair.

“Hussein did a great job and we are all really appreciative,” said Musumeci. “Hussein has put together a great group of people here in the department.”

Elsaid has no doubt about his successor. “Jim is the right person for the job. I think he’s very qualified to lead the department,” he said. “Jim is very familiar with the workings of the University and he will be quite effective.”

Originally from Texas, Musumeci earned his bachelor’s, master’s and doctoral degrees from the University of Texas at Austin.

He joined the SIUC faculty in 1993 and teaches corporate finance, investments and risk management. His research focuses on methodology issues, asset allocation for retirement purposes and real estate.

A celebrated instructor, Musumeci earned honors as the College of Business and Administration Undergraduate Teacher of the Year in 2000 and Graduate Teacher of the Year in 1999.

Despite his individual accomplishments, Musumeci is quick to tout his department’s achievements. “It is very productive in research, being ranked in the top 5.6 percent according to the winter 2002 Financial Management Association Journal. This is above all of our peer institutions.”

The new chair wants to build on the department’s strengths. “Of course, there is always room for improvement, but I think the department already has the right goals and the task will be to make sure it has the means to fulfill them,” said Musumeci.

Providing stability in leadership and governance is among the goals of Southern at 150: Building Excellence Through Commitment, the blueprint for the development of the University by the time it celebrates its 150th anniversary in 2019.