With the single largest gift ever made to the College of Business and Economics, Joseph R. Perella ‘64 and his wife, Amy, have donated $10 million to endow the Perella Department of Finance.

	Joseph R. Perella

Perella, a Lehigh University trustee, is chairman of the Institutional Securities and Investment Banking Group at Morgan Stanley.

The gift will strengthen the finance department and support endowed chairs for professors. Lehigh has long recognized the importance of a strong College of Business and Economics, and in the past few years, significant university funds have been directed to help the college develop innovative new academic offerings and to strengthen faculty leadership.

"Financial decisions affect our quality of life. Whether it is in politics, business, or education, it is important to have well-educated decision makers," Perella said. "Amy and I are proud to be able to support Lehigh University's College of Business and Economics. Through the establishment of endowed faculty chairs, Lehigh will continue to be able to attract and retain the finest faculty. They will set the standard for demonstrated practical business acumen, academic rigor, and a passion for teaching. We are also encouraged that this gift will stimulate the university’s commitment and ongoing investment in finance, thereby securing a position of leadership for Lehigh in the education of tomorrow’s business innovators."

Gregory C. Farrington, Lehigh president, said: "The finest legacy of our generation is to invest in future generations. Joseph Perella, one of our most distinguished and accomplished alumni, recognizes this. He has had an exceptionally successful career, never forgetting that it all started during his days at Lehigh. We are honored that the Perellas are providing such a significant investment to help Lehigh develop future generations of business leaders by enabling us to attract and retain outstanding faculty and students in business and finance. The generosity of the Perellas also complements significant investments in the College of Business and Economics that the university has made in recent years to create innovative academic offerings and enhance faculty leadership.”

Financial service has long been a hallmark for the College of Business and Economics, said Richard M. Durand, Herbert E. Ehlers Dean of the College of Business and Economics. "This gift builds upon the Hans Baer Endowed Chair in International Finance and will take the Perella Department of Finance to the next level in terms of national and international recognition. Within the next several months, we plan to use one of the new Perella endowed chairs for a professorship dedicated to the college’s new Financial Services Laboratory.”

With its interdisciplinary approach to learning, the College of Business and Economics is uniquely positioned to develop business leaders. It provides strong programs at both the graduate and undergraduate levels. Traditional undergraduate business majors are offered, as well as a variety of niche-based, market-driven programs such as supply chain management, computer science and business and integrated business and engineering. At the graduate level, the MBA program has a variety of concentrations. The college also offers the MBA and Engineering and MBA and Educational Leadership programs.

The Perella family has been a loyal and generous benefactor to Lehigh for many years. In addition to this gift, the Perellas previously established an endowed scholarship fund for Lehigh students from the Newark, N.J. area where Perella grew up. They also supported the construction of Rauch Business Center, and the largest auditorium there is named after Perella. The Perella Department of Finance will continue to be located in Rauch Business Center.

“Lehigh University is my number one giving priority,” Perella said. “The university is building for the future with a unique blend of strengths and solid leadership. If you believe in investing in the university you must show by deeds, in addition to words, that you have conviction. This university has been, and will continue to be, a force for positive change, not only in applying the practical benefits in the business world, but to all segments of society."

--Kim I. Plyler

Posted on Monday, January 12, 2004