The Gerald Loeb Awards were established in 1957 by the late Gerald Loeb, a founding partner of E.F. Hutton. Loeb created the awards to encourage and support reporting on business and finance that would inform and protect the private investor and the general public. Journalists and media outlets nationwide submit entries to compete for the Loeb Awards, the most prestigious honor in business journalism. In 1973, Loeb appointed UCLA Anderson the steward of the G. and R. Loeb Foundation. The Dean of UCLA Anderson chairs the award’s final judging committee of leading journalists, news executives and academics. The awards use a two-tier judging process comprising a preliminary round (in Los Angeles) and final round (in New York City). The awards banquet and celebration is held in New York City every June and is attended by the country's most influential journalists, editors, publishers, producers, and media personalities.