By Lian Bunny
Photo Editor
The St. Bonaventure University accounting department appointed professor Charles J. (Joe) Coate, Ph.D., the first McQuade Faculty Fellow.
The McQuade Center for Accounting Excellence funds the McQuade Faculty Fellows. Gene, ’71, and Peggy McQuade donated the $2 million gift.
Carol Fischer, Ph.D., interim dean of the School of Business, said the money helps the accounting department fund programs to assist faculty and students. The funds are intended to enhance the accounting program that Master-of-Finance.org ranked as ninth out of more than 500 small colleges in the U.S.
Gene McQaude was an accounting major at Bonaventure and said his college education built the foundation for his business career. Now retired as the Citibank CEO and Vice Chairman, he has held executive positions at Bank of America Corporation, FleetBoston and Merrill Lynch.
By being named a Faculty Fellow, Coate receives a personal stipend and a stipend to support future initiatives, such as hiring students to help with service or research projects. The stipends are renewable each year.
Fischer declined to give amount of the stipends.
Coate said he isn’t sure how he will spend the funds yet.
“I need to think of something special, a really added value for these funds,” Coate said. “(I) hope to, in the next calendar year, make some investments with those funds.”
As chair of the accounting department, Fischer said Coate has significantly integrated the university’s mission in his service, teaching and research. In addition to presenting and publishing research on business ethics and Franciscan values, Coate also coordinates the Pacioli Scholars Program at Bonaventure.
According to Coate, the Pacioli Program’s goal is to groom leaders for campus programs such as BonaResponds, a club that participates in weekly service projects, and ENACTUS, an international, nonprofit organization that connects business leaders and students through community service.
Fischer said the appointment as a Fellow recognizes Coate’s contributions and will encourage him to continue his mission-related activities.
According to Coate, the first major McQuade funds investment was used to finance the McQuade internship program. This allows Bonaventure students to get summer internship hours while being mentored by a faculty member.
Coate added the money was first spent to help students, which reflects the values of the accounting department.
“We’re trying to make sure Gene and Peggy’s intentions of supporting the accounting education are honored,” Coate said. “That’s our whole goal – preparing students for professional careers where they can positively impact society.”
Gene McQuade also participates in many other organizations. Currently, he is a member of the board of directors at both Citigroup and Citibank and recently joined Promontory Financial Group acting as a vice chairman of the firm’s advisory board. In addition, he is chairman of XL Group PLC, director of Catholic Charities in New York and a trustee of the Boys & Girls Club of America and the American Ireland Fund.
bunnyla13@bonaventure.edu
