E. Gerald Corrigan gives $5 million to Fairfield University

E. Gerald Corrigan gives $5 million to Fairfield University

Rev. Jeffrey P. von Arx, S.J., president of Fairfield University, announced on Wednesday a $5 million dollar gift from an alumnus from the Class of 1963 and Trustee of the Board of the University, E. Gerald Corrigan, Ph.D. The announcement was made at the Yale Club in New York City where Fairfield held its annual Magis Reception to honor benefactors of the university who have contributed significantly over the past year.

E. Gerald Corrigan The $5 million gift will be divided evenly to create the E. Gerald Corrigan Endowed Scholarship Fund and the E. Gerald Corrigan Endowed Chair in the Humanities and Social Sciences. In announcing the gift, Fr. von Arx stated, "Dr. Corrigan has had a stellar career in banking and finance, with a particular gift for financial crisis management. As he rose through the ranks of the Federal Reserve and then took on the role of managing director of Goldman Sachs, he has never forgotten Fairfield. Indeed, he has played a significant role at the university as an alumnus and Trustee and this gift is one of many that he has graciously and generously bestowed on his alma mater over the years. It is gratifying to know that he values the education he received here and wants to provide for others, the opportunities of education that are so essential to success."

In being recognized for his gift, Dr. Corrigan, currently a managing director of Goldman Sachs, said "I consider myself fortunate, indeed, to be in a position to make this gift. In so doing, I have every expectation that Fairfield University will continue to flourish in the future while maintaining its tradition of excellence and its service to the community, especially to those segments of the community that have the greatest needs."

Dr. Corrigan, who earned his Ph.D. in economics from Fordham University, joined the New York Fed in 1968. He served as a Special Assistant to former Federal Reserve Chair Paul Volcker from 1979-1980. He was then named President and CEO of the Minneapolis Federal Reserve Bank where he served from 1980 to 1984, and then was appointed President of the Federal Reserve Bank of New York. During his tenure with the Federal Reserve, he earned a reputation for mastering the art of financial crisis management. Following his career at the Fed, Mr. Corrigan joined Goldman Sachs in 1994 where he became a partner and managing director in 1996. At Goldman Sachs, his duties, among others, include serving as co-chair of the Firmwide Risk Management Committee and vice chair of the Firmwide Business Practices Committee as well as providing advice to the firm and its clients on a wide range of business and strategic issues.

Fr. von Arx and E. Gerald Corrigan

First appointment to E. Gerald Corrigan Endowed Chair announced

The first professor selected to hold the E. Gerald Corrigan Endowed Chair in the Humanities and Social Sciences is another outstanding alumnus of Fairfield University, Class of 1970, Kurt C. Schlichting, Ph.D., professor of sociology and anthropology, who has distinguished himself as a researcher, author and political consultant. He has received numerous grants to support his work throughout his career, including from the Alfred P. Sloan Foundation, Archbold Charitable Trust, Rockefeller Brothers E. Foundation, William and Flora Hewlett Foundation and the Department of Education, Fund for the Improvement of Post Secondary Education (FIPSE).

He is the author of Grand Central Terminal: Railroads, Architecture and Engineering in New York (Johns Hopkins University Press, 2001), for which he received the 2002 Best Professional /Scholarly Book: Architecture & Urbanism Award from the Association of American Publishers. He is also the author or co-author of recent scholarly articles in publications such as the Journal of Black Studies , American Politics Quarterly , Journal of Urban History , and Railroad History .

Kurt Schlichting, Fr. von Arx and E. Gerald Corrigan

As the director of the Fairfield County Research Center, which he founded in 1987, Dr. Schlichting has involved Fairfield University faculty and students in research projects for local governments and non-profit organizations in the county and beyond. Some of the organizations he has assisted include Voices of September 11th, an advocacy organization in New Canaan, Conn., that works for victims of 9/11 and preparedness; the International Institute of Connecticut, the Connecticut Department of Children and Families, Catholic Legal Immigration Services in Washington, D.C., United Way of Eastern Fairfield County, the Jesuit Conference, and City of Leon, Nicaragua.

In the 1980s, Dr. Schlichting was the co-founder and vice president of The Analysis Group Inc., in New Haven, Conn., now Greenberg Quinlan Rosner Research in Washington, D.C. In that role he was a political consultant to Senator Christopher Dodd, Governor William O'Neill and the Connecticut Democratic Party.

He also served the university as associate dean of the College of Arts and Sciences from 1990-1992 and was acting dean of the College from 1984 to 1985. A member of the faculty since 1974, Dr. Schlichting holds a master's degree and a doctorate from New York University. He lives in Fairfield, Conn., with his wife, Mary, and has two daughters.

Posted On: 06-07-2007 10:06 AM

Volume: 39 Number: 236