McQuade Family's $2 Million Gift Creates Center for Accounting Excellence at SBU

September 27, 2013 Updated Sep 21, 2011 at 1:16 PM EDT

By WKBW News

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McQuade Family's $2 Million Gift Creates Center for Accounting Excellence at SBU

September 27, 2013 Updated Sep 21, 2011 at 1:16 PM EDT

St. Bonaventure, N.Y. (WKBW release) St. Bonaventure University alumnus Eugene McQuade, ’71, and his wife, Peggy, have committed $2 million to establish the McQuade Center for Accounting Excellence endowment within St. Bonaventure’s acclaimed School of Business.

The endowment will provide scholarship aid to promising incoming accounting majors; funding to recruit, retain and support the work of highly qualified, dedicated faculty; and support for student programming, advisement and professional development.

Additionally, the endowment will make possible an awards celebration to honor the achievements of students, young alumni and senior executives. 

“Gene McQuade is one of the most accomplished business leaders among our many outstanding School of Business alums,” said Sr. Margaret Carney, O.S.F., S.T.D., president of the university.  “Gene and Peggy are very discerning observers of the higher education landscape. The vote of confidence that their gift represents sends the strongest possible message about our potential to take this school to greater heights. I am very excited about their commitment to help us make that happen.”

McQuade, chief executive officer of Citibank, is a veteran banker who has held executive positions at Merrill Lynch, Bank of America Corporation and FleetBoston. 

“My family and I are proud to partner with St. Bonaventure’s premier business school,” McQuade said.  “The high caliber of the curriculum, the integration of service learning and the attention to ethical decision making creates a dynamic business learning environment.”

McQuade earned a bachelor of business administration degree with a major in accounting from St. Bonaventure in 1971.  A longtime supporter and volunteer for the university, McQuade also served as a member of St. Bonaventure’s board of trustees from 1998 to 2007.

“I wanted to give back to my alma mater and pass on the legacy of a St. Bonaventure education,” McQuade said.  “The quality instruction I received and the Franciscan values I learned at the university have served me well, both personally and professionally.”

McQuade will visit campus Friday, Oct. 21, as a guest speaker in the School of Business Executive Lecture Series, where he will meet with accounting students to share his experiences in the business world. 

“The McQuade Center for Accounting Excellence endowment is a substantial investment in our accounting program,” said Brian McAllister, dean of the School of Business.  “It also complements the newly created Career and Professional Readiness program, which prepares students to become ‘intern ready’ by their sophomore year, and ‘life-ready’ by the time they graduate.  This gift truly enhances the distinct qualities of a St. Bonaventure accounting/business education.”

The university recently entered the public phase of a $15 million campaign for the creation of a new building to house the School of Business: $10 million for the construction of the business center; $4 million in endowments for faculty and programmatic support; and $1 million for building endowment.

The McQuade family gift brings the total of funds raised to nearly $10 million and officially marks the start of the public phase of the campaign.   It is among more than 50 commitments made to the campaign by St. Bonaventure alumni and friends.  The university expects to release information about the additional lead donors to the campaign as it continues toward its goal of $15 million.

Donations to the campaign may be made by visiting www.sbu.edu/bullishonbusiness/donate or by calling (800) 664-1273.