College's founder named honorary chair for Penn State capital campaign
1/16/2008
Schreyer Honors College benefactor William A. Schreyer, chairman and chief executive emeritus of Merrill Lynch & Co., is one of four Penn Staters named an honorary chair of the University's new capital campaign, For the Future: The Campaign for Penn State Students.
Joining Schreyer are Edward R. Hintz, founder and president of a money-management firm; Arthur J. Nagle, private equity investment manager; and Joseph V. Paterno, Nittany Lions head football coach. All have participated as volunteer leaders in previous Penn State fundraising efforts.
The honorary chairs will serve as advisors to Campaign Chair Peter Tombros and will help to identify major gift prospects, according to University President Graham Spanier.
"These four leaders bring an incredible amount of collective wisdom and experience to the campaign," Spanier said. "They are also visionary philanthropists in their own right. Their generosity has especially helped to create new and more varied educational opportunities for students, and that is the essence of the For the Future campaign."
The campaign began Jan. 1. Its highest priority is to ensure that a Penn State education remains accessible to students regardless of their financial means, and to strengthen the qualities that make Penn State a student-centered university. A dollar goal will be determined at a later date.
"Each of our honorary chairs has a unique perspective on Penn State and is a proven leader who enjoys widespread esteem throughout the University community," said Tombros. "They've played key roles in previous University fundraising efforts, all of which have met with great success. I'm delighted that they will be involved with the For the Future campaign."
William A. Schreyer, a native of Williamsport, joined Merrill Lynch as a management trainee in 1948, the year he graduated from Penn State. He rose through the ranks and was named the firm's chairman in 1985. He is widely credited with making Merrill Lynch a global financial giant. He became chairman emeritus in 1993. He served on Penn State's Board of Trustees from 1986 to 1996, and was board chair 1993-96. Schreyer headed the Campaign for Penn State and served on the executive committee of the Grand Destiny campaign. In 1997 he and his wife, Joan, established an endowment that created the Schreyer Honors College and related scholarships and programs. The Smeal College of Business, the University Libraries, and Penn State Milton S. Hershey Medical Center also have been recipients of major gifts from the Schreyers. The Schreyers reside in Princeton, N.J.
Edward Hintz, a Reading native and 1959 Penn State graduate, is president of New Jersey-based HHR Asset Management, a private money-management firm specializing in investment management for endowments and individuals, which he founded in 1974. He chaired the Grand Destiny campaign, which secured $1.37 billion in gifts for the University between 1996 and 2003, and was a vice chair of the Campaign for Penn State, which raised $352 million over a six-year period ending in 1990. He and his wife, Helen, committed the lead gift in 2001 to help build a new facility for the Penn State Alumni Association. The Hintzes have directed their Penn State philanthropy toward a variety of programs and purposes, including the Smeal College of Business, College of Health and Human Development, University Libraries, Penn State Berks, and Trustee Scholarships. Edward Hintz has served on Penn State's Board of Trustees since 1994 and was board chair 2001-03.
Arthur Nagle, a member of Penn State's class of 1961, is managing director of New York-based Vestar Capital Partners, a private equity investment firm, and has served as a director of more than 25 major business firms. As volunteer chair of the National Council on Penn State Philanthropy, he headed the University's Investing in People fundraising initiatives that followed the Grand Destiny campaign and secured private gifts for a wide range of purposes, including student financial aid, faculty endowments, and academic programs. He and his wife, Paige, have supported the musical theatre program, College of the Liberal Arts, intercollegiate athletics, and the Penn State Blue Band.
Joe Paterno, a Brown University graduate, came to Penn State in 1950 as an assistant football coach and became head coach in 1966. He earned national Coach of the Year honors five times and is one of only three active coaches ever elected to the College Football Hall of Fame. Paterno, who is an honorary Penn State alumnus, has served as a volunteer leader in both of the University's previous capital campaigns. With his wife, Sue, he headed the effort to build a new library at University Park. The Paternos have also supported the College of the Liberal Arts, College of Arts and Architecture, and the Pasquerilla Spiritual Center. Tombros noted that the honorary chairs will serve as members of the campaign executive committee, the top volunteer advisory group that helps to plan and implement campaign strategy.
