Wednesday, 6 November 2013
A leading New York fund manager and University of Queensland alumnus has donated $1 million to UQ to support a recently established institute that will drive business and economics research.
Mr Matthew McLennan’s donation will support the Australian Institute for Business and Economics (AIBE) and a new scholarship at UQ’s Faculty of Business Economics and Law.
Mr McLennan graduated from UQ in 1991 and is now head of the Global Value Team at First Eagle Funds that is responsible for approximately $80 billion under management.
He said one of the most important investments anyone could make in their lifetime was to provide opportunities for the next generation to learn and succeed.
“I have made this gift in the hope that it will inspire others to give,” Mr McLennan said.
“UQ increasingly competes on a global stage. To achieve the highest level of scholarly research and coordination of efforts among academic scholars and industry requires significant funding.
“We all have a duty to take institutions that have shaped us to an even higher capability for tomorrow’s reality.”
The AIBE will position UQ as a leading provider of business and economics research. It will be a vehicle to advance national and global engagement through building strategic partnerships with governments, industry and academic institutions.
His donation was made to The University of Queensland in America Inc, which strengthens and expands research, education, business and philanthropy partnerships through the 8000 UQ alumni living in the US and Canada.
UQ President and Vice-Chancellor Professor Peter Høj said the University was proud of how alumni were providing for students of the future.
“Matthew McLennan is now considered by many to be one of the most influential Australian investors in the world,” Professor Høj said.
“We are extremely proud of him and what he has achieved and we are also very grateful for his generosity and commitment to UQ.
“This endowment will help ensure that business and economics graduates at UQ will have the opportunity to develop their skills with help from those with proven success in the industry.”
The Executive Dean of the Faculty of Business, Economics and Law, Professor Iain Watson, praised Mr McLennan’s inspirational philanthropic contribution.
“Research within the Faculty is held in very high regard nationally and internationally. The establishment of the new Institute will ensure this work is more visible and accessible to governments, industry and our global partners, while further emphasising the relevance of our cutting edge research,” Professor Watson said.
“We pride ourselves in exposing our graduates to a research informed curriculum that provides them with the opportunity to maximize their potential when they commence their careers. Producing outstanding graduates who have the skills to make a significant contribution to our global community will always be our main priority.