The University of Queensland Business School will name its Chair in Finance in honour of Malcolm Broomhead (Bachelor of Engineering, '75, Master of Business Administration, '84), after the leading Australian businessman supported the school with a $3 million gift.
UQ Vice-Chancellor and President Professor Peter Høj thanked Mr Broomhead for his support and said an international search was under way to fill the newly-established Malcolm Broomhead Chair in Finance.
“The generous gift from Malcolm has now made it possible to endow this chair of strategic importance to UQ,” Professor Høj said.
“We are fortunate at UQ to have a strong alumni network whose generosity and support of the next generation is allowing us to extend our programs, attract quality staff and offer transformative student experiences.
“Mr Broomhead’s philanthropy is of a very high order and a fine example to others.
“It will enhance the UQ Business School’s capacity to educate and develop the business leaders of the future.”
Mr Broomhead is Chair of Ascinao Ltd, Chair elect of Orica, and a non-executive director of BHP Billiton Ltd and BHP Billiton Plc.
He was project engineer and construction manager with MIM Holdings in Brisbane when he undertook his MBA at the UQ Business School in the early 1980s.
“The MBA was a career-changer,” Mr Broomhead said.
“I was working my way up the professional ladder when I started.
“The MBA program enabled me to really accelerate my career.”
Mr Broomhead said he found finance the most useful component of his studies, and went on to become a chief financial officer on his way to becoming a chief executive officer.
He said he chose to support the UQ Business School because he believed it was important for those who had been successful to give back and support the education of the next generation.
“UQ Business School is the leading MBA provider outside of North America and Europe,” he said.
“I think having a top business school is really important to the Australian economy – to our standards of living – and also a really important link into Asia.
“I think philanthropically supporting our universities is becoming more important, given our demographics and the competitive nature of education globally.
“We can’t continue to rely on the government to totally fund the education system.
“It’s important we encourage individuals who have been successful in life to support education.”
Mr Broomhead said Australia had a global competitive advantage in education.
“We may have a small population, but there are real niches where we can be world-class, including medical research and education,” he said.
“We need to ensure we maintain the highest standards possible.”
UQ Business School Academic Dean and Head Professor Andrew Griffiths said the School was seeking an internationally-regarded professor with a strong research background who could create a high-quality learning experience for students.
What is a Chair?
At a university, a Chair is the highest academic award a faculty member can hold. A Chair position attracts exceptionally talented professors, and result in teaching, research and discoveries that will likely have a major impact locally and internationally.
Donors who generously endow Chairs ensure excellence in the discipline they have given to, and provide students access to the world’s brightest academics and mentorship. The philanthropy is a boost to a university’s potential for growth and innovation, and creates a lasting positive impact.