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Le Moyne Celebrates Beginning of Renovation for New Home of the Madden School of Business

SYRACUSE, N.Y. (For Immediate Release…) Le Moyne College officially began the renovation of Mitchell Hall to house the Madden School of Business with a ceremony on Thursday, May 23. This is the first phase of a complete renovation of the building, and will include the renovation of the first floor of Mitchell Hall and the transformation of the exterior of the building. Among the features of this new academic space will be a trading floor, a financial education center, a forensic accounting laboratory, and an applied research and executive education laboratory. The phase will be completed by mid-August and be open to welcome students as they return to campus for the fall 2013 semester.

Making remarks at the ceremony was the school’s namesake, Mike Madden ’71, Le Moyne President Fred P. Pestello, Board of Trustee Chair Sharon (Kinsman) Salmon ’78, and current Le Moyne students Kate Waltman ’14, and Mike Lyons ’15. Providing a blessing at the ceremony was John Bucki, S.J., the rector of Le Moyne’s Jesuit community.

Future phases will transform the second floor into more academic space and faculty offices, and the third floor into a living learning community for business students. The building was constructed in 1957 as the Loyola Hall Jesuit Residence and served in that capacity until 1990. Since that time it has served as administrative offices on the first floor, and student housing on the second and third floors.

The cost for the first phase is approximately $5.6 million. The project is being paid for through a combination of gifts to the College, borrowing through tax-exempt bonds, and a portion of the $2 million Regional Economic Development Grant the College received in 2012.

The school is named for Mike Madden, class of 1971, who gave the College a $7 million gift in 2012. Madden is managing partner of BlackEagle Partners, LLC. He served as chairman of Le Moyne's Board of Trustees from 1999 to 2003, and also co-chaired the College's Tradition With Vision capital campaign in the 1990s. He has been an adjunct faculty member and guest lecturer in both undergraduate and graduate courses at the College. After graduating magna cum laude from Le Moyne with a bachelor's degree in economics, he earned an MBA in finance, with distinction, from the Wharton School, University of Pennsylvania. Prior to founding BlackEagle Partners, Madden was a senior partner at Questor Management Company, LLC. He began his career at Kidder, Peabody & Co., where he ultimately rose to become head of Global Investment Banking, a position he also held at both Lehman Brothers Holdings and PaineWebber. In 1997, Madden gave Le Moyne’s its first $1 million gift, which established the Madden Institute for Business Education.

posted on: 5/23/2013