Ariel Investments Elects University of Chicago Professor Tobias J. Moskowitz to its Board of Directors

Chicago, IL (June 7, 2012)  Today Ariel Investments, LLC announced the election of University of Chicago Professor Tobias "Toby" Moskowitz to the company's Board of Directors.

Professor Moskowitz is the Fama Family Chaired Professor of Finance at the University of Chicago Booth School of Business, where he has taught since 1998. Professor Moskowitz also serves as a research associate for the National Bureau of Economic Research and is a former editor of the Review of Financial Studies and a current associate editor of the Journal of Finance. He is known nationally for his research on financial markets and investments, including behavioral finance. He has explored topics as diverse as momentum in stock returns, biases in investment portfolios, the return to private business ownership, mutual and hedge fund performance, the political economy of financial regulation, as well as the economics of sports.

In 2007, Professor Moskowitz was recognized by the American Finance Association with its Fischer Black Prize, which is awarded biennially to the top finance scholar in the world under the age of 40. His work has been cited in the Wall Street Journal, The New York Times, Financial Times, Money magazine, and a 2005 speech by former Federal Reserve Chairman Alan Greenspan. In 2011, he wrote the best-selling book "Scorecasting," (Crown Archetype, Random House) co-authored with L. Jon Wertheim of Sports Illustrated, which uses economic principles to explain the hidden side of sports.

John W. Rogers, Jr., Founder, Chairman and Chief Investment Officer of Ariel Investments, stated, "Having admired Toby's work for many years, I have gained tremendous insights from his extensive research on behavioral finance. As a member of our board, I am confident he will be a tremendous asset to our company as well as our investment effort.” 

Born in West Lafayette, IN, Professor Moskowitz earned a bachelor's degree in industrial management and industrial engineering (with distinction) in 1993 from Purdue University, a master's degree in management from Purdue in 1994, and a Ph.D. in finance from UCLA in 1998. He resides in Chicago with his wife, Bonnie, and their four children. 

About Ariel Investments, LLC 
Since its inception in 1983, Ariel Investments has grown from 2 to 78 employees with $4.4 billion in assets under management. Headquartered in Chicago, the firm serves as the investment adviser to the Ariel Investment Trust, comprised of six no-load mutual funds: Ariel Fund, Ariel Appreciation Fund, Ariel Focus Fund, Ariel Discovery Fund, Ariel International Equity Fund and Ariel Global Equity Fund. Additionally, Ariel manages separate accounts for corporate, public, union and non-profit organizations. For more information about the firm, please visit arielinvestments.com.

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