$3.5 M US Donation Swells Business School

1 July 2002

$3.5 M US Donation Swells Business School Fundraising Campaign

The University of Auckland today announced that it has received a gift of $3.5 million for its fundraising campaign to build a world-class business school for Auckland.

Dean of The University of Auckland Business School, Professor Barry Spicer, said that the gift from American businessman Paul K Kelly was a welcome contribution to the tertiary education sector and the New Zealand business community generally.

“Our vision for the Business School is a global one, so it is pleasing to announce our first major individual donation from a highly respected international source,” he said.

Paul Kelly is Chairman and CEO of the diversified US manufacturing company, Knox Enterprises, Inc., and President and CEO of Knox and Co., an investment banking firm. He has a long-term interest in tertiary education and is currently a member of the Board of Trustees for the University of Pennsylvania, home of the internationally renowned Wharton School. An American, Mr. Kelly has owned property in New Zealand for some years, including the Carrington Club, a new golf club resort on the Karikari Peninsula in the Far North.

Mr Kelly said that he agreed with the objectives of The University of Auckland Business School. “A top flight business school makes a powerful contribution to the economy it serves,” he said. “I have seen that contribution in the United States. I believe The University of Auckland is well positioned to benefit fully from an infusion of further funds, and to provide business and management leadership both locally and regionally.”

Mr Kelly said that one million dollars is for Maori student financial aid and management development, $1 million is for general student financial assistance, and $1.5 million is for faculty enhancement. The Maori and general student financial assistance (scholarships) portions are for both undergraduate and graduate study.

Professor Spicer said that, in total, the University had raised around $7.5 million so far for the Business School, with another $7.5 million under discussion. The initial target is $25 million, to take full advantage of the Government’s offer of $25 million in matching funds.

ENDS

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