(Hong Kong: November 8, 2001) DePaul University conferred an honorary Doctor of Humane Letters degree Nov. 8 on former U.S. President George Bush Thursday at the International Bank of Asia (IBA) in Hong Kong, where DePaul and the IBA offer Master of Business Administration (MBA) and Bachelor of Arts (BA) degree programs.

Bush, who has served as the 41st President of the United States, Vice President of the United States and as the chief representative of the United States to the People’s Republic of China, was chosen to receive the degree by the DePaul-IBA educational partnership because of his lifelong public service and his leadership in international affairs. The former President was conferred with the degree by the Rev. John P. Minogue, C.M., president of DePaul, and Mike M. Murad, vice chairman and chief executive of IBA, who also serves as a trustee for DePaul.

“Let me salute the leadership of DePaul as well as IBA—International Bank of Asia— for the forward-looking relationship that they have forged,” Bush said at the ceremony.“(By) launching this visionary academic partnership between one of the leading business schools in the country, if not the world, with certainly one of the most respected financial institutions here in Asia, all of you have demonstrated in that way your commitment to the future.”

Rev. Minogue said: “DePaul has a tradition of recognizing individuals who have made major contributions to society. It is fitting that we conferred an honorary degree overseas for the first time to a man who has made a difference to the lives of so many people around the world. President Bush has displayed the qualities that embody the spirit of the Doctor of Humane Letters honoris causa degree. We take pride in honoring the President.”

Murad also praised the former U.S. President. “President Bush has had an extraordinarily distinguished career, and is often described as the most qualified person ever to assume the presidency,” he said. “He has served as a model to young people around the world, transmitting the values of concern for the well being of all people that he learned from his parents. It is an honor for IBA and DePaul to recognize the achievements of this genuine world leader.” DePaul is the largest Catholic university in the U.S., the ninth largest private, not-for-profit university in America and the largest private university in Chicago. U.S. News & World Report ranks the part-time MBA program at DePaul’s Kellstadt Graduate School of Business fourth in the nation.

International Bank of Asia is a retail bank listed on the Hong Kong stock exchange, with total assets of US$3.9 billion. It operates through a network of 26 branches, six wealth management centers, four consumer loan centers, Internet banking and 60 automatic teller machines. It provides a wide range of financial services, including multi-currency deposits, consumer loans, credit card services, equipment leasing, residential mortgage lending, trade finance, stock brokerage, unit trusts and insurance. IBA is rated A-3 short-term and BBB long-term by Standard & Poor’s.

In Hong Kong, DePaul and IBA have collaborated to offer MBA and BA degrees through Kellstadt and the School for New Learning, respectively. DePaul faculty travel to Hong Kong and teach courses. More than 60 IBA staff have earned degrees since the program commenced in 1997. A third MBA class enrolled this fall, with students from the public joining IBA students for the first time. A fourth class, also open to the public, will commence in September 2002.