University of North Carolina system

University Business, Nov, 2005

Erskine Bowles, once President Clinton's chief of staff, has been asked to run the University of North Carolina system. Bowles will be president of UNC, his alma mater, at an annual salary of $425,000. He has promised to donate $125,000 of it to financial aid for needy students. Bowles was rumored for months to be a front-runner for the presidency, even though he does not have higher education experience.

What he does have is an extensive financial and political background. He most recently was an investment banker based in Charlotte, but worked for Morgan Stanley in New York City after earning an MBA from Columbia University (N.Y.). He served Clinton in several capacities--as director of the Small Business Administration, then as deputy White House chief of staff, and later as chief of staff. In his new job he oversees a $5 billion budget, 16 campuses and 37,000 employees