Jay Hartzell, University of Texas president and economist, leaving for SMU

In what’s been among the most transformative period in SMU’s history, the school marked another transformative moment on Tuesday when it hired University of Texas President Dr. Jay Hartzell. The school announced the move in a release after the board unanimously voted for him to be the school’s next president.

“I am honored to serve as the next president of an exceptional institution like SMU in one of the most dynamic and fastest-growing cities in the nation, and excited to see how I can make the greatest impact as a leader,” Dr. Hartzell said in a release. “SMU’s stellar – and rising – national reputation, decades of extraordinary internal and external leadership, strong board of trustees, accomplished alumni, and impressively strong and diverse students and faculty made this an opportunity that Kara and I could not pass up. I look forward to building upon the University’s remarkable momentum and leading SMU into its next era.”

Hartzell was named the 30th president of The University of Texas at Austin in October 2020 after serving as the 12th dean of the McCombs School of Business at UT.

“Dr. Hartzell is a well-respected academician and higher education leader with a strong track record of accomplishments that make him the ideal candidate to build upon the tremendous energy and momentum we are experiencing here on the Hilltop,” said David B. Miller, ’72, ’73, chair of the SMU Board of Trustees and co-chair of the Presidential Search Committee. “His leadership at UT Austin and commitment to advancing programs across diverse disciplines, including humanities, social sciences, arts, education, business, law, student life, and intercollegiate athletics, make him an excellent choice as SMU’s eleventh president. He also understands the vital role Texas and its universities play in the nation’s vibrant economy. The Board of Trustees looks forward to welcoming him, his wife, Kara, and their family to the Hilltop and Dallas.”

SMU president R. Gerald Turner will step down from his position after 30 years by June 1, 2025.

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Among the successes Texas has enjoyed under Hartzell’s leadership is a transformative period in athletics. Hartzell helped the Longhorns move into the SEC. He and athletic director Chris Del Conte built Darrel K. Royal Stadium into a party with drone shows and a new endzone complex.

For Hartzell, he arrives at SMU understanding the pivotal moment the school is in having just arrived in the ACC. At UT, he revamped the future of the university in athletics with the move to the SEC and understands the nuances of revenue sharing, NIL, television rights deals and more.

“The way the economic forces in college sports are going is going to exacerbate the gaps between the haves and have-nots,” Hartzell said in an interview with Yahoo last year. “Cutting the cord at the household level is causing pressure on media deals. Generally, live sports are one of those things that generate a ton of interest and demand. College football is the biggest driver but not all of those games are equal. The games with the big brands drive the revenue.

“I worry about schools below a certain threshold and I do worry about how they are going to keep up and keep competing,” Hartzell added. “At the end of the day, you’re going to have a lot of them that are going to find themselves having to subsidize athletics even more. It’s going to cause another cost pressure on the academic side of the house, where people are going to feel like they’re going to have to find ways to save money on academics to make sure they keep the athletic program where it is. It’s going to cause a set of questions at some of those schools: Is it really worth it?”

Hartzell is a lover of economics and athletics — two big positives for a university that boasts a sparkling, newly-renovated Cox School of Business and a bright future in athletics.

As dean of McCombs for over four years, Hartzell launched the Goff Real Estate Labs, elevated the Canfield Business Honors program and opened Rowling Hall, the home of UT’s MBA program. He helped create many significant partnerships with colleges and schools across campus including the Dell Medical School, the College of Fine Arts, the College of Liberal Arts, the College of Natural Sciences and the Moody College of Communication.

Jay Hartzell holds a B.S. in business administration and economics (cum laude) from Trinity University and a Ph.D. in finance from The University of Texas at Austin. His research focuses on real estate finance, corporate finance and corporate governance. His articles have been published in leading journals in the field, including the Journal of Finance, Journal of Financial Economics, Real Estate Economics and The Review of Financial Studies.