The Tepper School of Business at Carnegie Mellon University has announced commitments totaling $1.25 million to establish the PNC Professorship in Computational Finance.

The chair will support outstanding junior faculty and help the school sustain and enhance its world-renowned work in finance. The funding includes a $1 million grant from the Pittsburgh-based PNC Foundation, the philanthropic arm of PNC Financial Services Group, and $250,000 from PNC's executive management.

"PNC's generous support will help the Tepper School continue to attract and retain leading scholars of finance," said the school's dean, Kenneth Dunn. "The PNC Professorship in Computational Finance also underscores PNC's commitment to education and research, and contributes to the transfer of academic discoveries to the financial industry."