Le Moyne Launches the Madden School of Business
$7 million gift leads to first named school in College’s 66-year history
SYRACUSE, N.Y. (For Immediate Release) … Le Moyne College has announced that its new business school will be named the Madden School of Business, in honor of Michael Madden ’71, who has provided a founding gift of $7 million, the second-largest single gift in College history. The announcement was made during the 26th Annual Accounting and Business Administration Alumni Dinner, held on April 26 at the College.
“From the first time I set foot on campus, Le Moyne has had a major influence on me, both as a person and later in my professional life, and this gift and the founding of the School allows me to extend that same opportunity to others,” said Madden, a native of Buffalo. “I’m excited about the School of Business and what this will do to take business education at Le Moyne to the next level.”
“This signifies a watershed moment for academics at the College, as Mike’s generosity will profoundly impact students enrolled in our business programs and all those who will attend in the future,” said Le Moyne President Fred Pestello. “This gift – the latest in a series of remarkable events that have placed Le Moyne on a solid upward trajectory – deepens our resolve to develop business leaders who are professionally proficient and also committed to the ethical tenets that are hallmarks of a Jesuit, Catholic education.”
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.
The Madden School is comprised of three centers of excellence – Entrepreneur¬ship, Innovation and Creativity; Global Business; and Leadership and Business Ethics – that complement Le Moyne’s core values while providing the essential resources for Le Moyne’s business students to become leaders for the 21st century. The School will be located in a fully renovated and reconfigured Mitchell Hall, one of Le Moyne’s most historic buildings. 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. Once fully funded, the Madden School will feature endowed professorships in accounting, business analyt-ics, information systems and marketing. There will also be additional funding to sup¬port undergraduate and graduate scholarship to help ensure access for all students.
In addition to the $7 million lead gift, three other Le Moyne graduates have made significant contributions to the School of more than $1 million – Kathy ’66 and John Purcell ’65 and Jack Collins ’60. The College anticipates the support of other alumni, friends and corporate partners will help it reach the $15 million goal set for the Madden School of Business capital campaign.
#####posted on: 4/26/2012