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Ab Nicholas and Dean Mike Knetter during the Nicholas Center's Grand Opening |
Albert "Ab" Nicholas, a School of Business alumnus and long time University of Wisconsin-Madison benefactor, made a $6.4 million gift to benefit the Nicholas Center for Corporate Finance and Investment Banking, formerly known as the Applied Corporate Finance (ACFIN) program.
His gift, announced in October 2003, established the Nicholas Center for Corporate Finance and Investment Banking. Nicholas is chair and chief executive officer of the Milwaukee-based mutual fund firm of Nicholas Co., Inc. He earned a bachelor's degree in economics from UW-Madison in 1952 and an MBA in 1955. Also in October, an anonymous donor added another $2 million to accelerate development of the program.
"We are extremely grateful for Ab’s generous gift to the school,” said Dean Michael M. Knetter. "Ab has been a leader in philanthropy in many areas and we are honored that he has chosen to support this program. The additional anonymous gift will ensure that we make rapid progress."
Nicholas said he made the gift because he wanted to, "give back to a school that has done so much for me." Nicholas said a course in Corporate Finance taught by the late Frank Graner, the legendary finance professor, was "instrumental in choosing my life’s work, so it is close to my heart." Nicholas said he also made the gift to support the school’s new MBA strategy, focusing on career specializations such as Applied Corporate Finance. "I am pleased and proud to be a part of helping revitalize the graduate business program," he said.
The Nicholas Center is truly the only applied program in the country that focuses exclusively on practical training in corporate finance. It combines real-world experience with innovative teaching of financial methods and techniques. Its students get hands-on experience working on corporate finance consulting projects. Established in 1999 by the former chair of the Department of Finance, Investment and Banking, Howard Thompson, Nicholas students typically analyze problem areas for participating firms in areas such as working capital management, funding sources, valuation, capital expenditure decisions and joint venture and strategic alliances.
Nicholas has long-standing ties to the university and the School of Business. He was named a Distinguished Business Alumnus of the School of Business in 1985 and served on its Board of Visitors from 1985 to 1987. His lead gift during Grainger Hall’s construction led to a lecture hall in Grainger Hall bearing his name.
Nicholas is a former president and board member of the National W Club, sits on the board of the UW Foundation and is a past member of the UW System Board of Regents. He is a member of the Wisconsin Alumni Association and the Bascom Hill Society. In 1993, he received the Wisconsin Alumni Association’s Distinguished Alumnus award. A former All-Big Ten basketball player, Nicholas and his wife, Nancy Johnson Nicholas – also a UW-Madison graduate - previously gave the university $10 million for construction of the Nicholas-Johnson Pavilion, a practice facility adjoining the Kohl Center.
The Nicholas Center for Corporate Finance and Investment Banking will be under the direction of James K. Seward, associate professor of Finance, Investment and Banking and Prochnow Fellow in Finance, and Cynthia Adams, who will serve as center director.
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| Dean Mike Knetter, Nancy Johnson-Nicholas, Ab Nicholas, Professor Jim Seward, Center Director Cindie Adams and former Chancellor John Wiley during Grand Opening Celebration |