Frederick Frank ’54 to Endow New Chair in the Yale School of Management
Frederick Frank, a devoted member of the Class of 1954 and vice chairman of Lehman Brothers, has announced a $5 million bequest to create a new professorship in the Yale School of Management. An active member of the Yale Tomorrow campaign committee, Frank is a longtime supporter of the School and a strong proponent of planned giving to Yale.
Frank’s gift comes at a time of dramatic change at SOM, which aims to add at least ten new positions to its faculty. The School is also revamping its curriculum to reflect the needs of today’s business and society, and it will build a new, larger campus.
“Initiatives at SOM are revolutionizing management education, and it is gratifying to contribute to the far-reaching changes taking place,” said Frank. “The School is remaking itself as a model for management training in the 21st century.”
The new professorship will be the third fund established by Frank at the School of Management. In 1998, he endowed a language study fellowship and a professorship. He contributes his business acumen as well by serving on the School’s board of advisors and on the Management Tomorrow campaign committee. In addition, he has established a scholarship in Yale College and has given generously to funds and projects initiated by his class.
“Fred has been a great partner and supporter of SOM, and we are deeply grateful for his generosity and the many leadership roles he has undertaken,” said SOM Dean Joel M. Podolny. “An increase in the number of endowed professorships will help us recruit and retain the most sought-after scholars and teachers.”
Frank, who often uses planned-giving vehicles to make donations to the University, urges others to do the same, especially if they are not able to make outright gifts during their lifetime.
(September 25, 2007)