$1.5 million gift from alumnus establishes chair in GSB
Joseph Sondheimer (A.B.'39), retired vice chairman of a Chicago investment firm, has given $1.5 million to the University to establish the Joseph Sondheimer Professorship of International Economics and Finance in the Graduate School of Business.
The gift is part of the University's Campaign for the Next Century. The campaign recently surpassed $533 million, continuing a steady climb toward the goal of $650 million (see story in the special supplement on University finances and campus developments in this issue).
"One is fortunate to have even a few opportunities in life to make a positive contribution to society," Sondheimer said. "What better way to do it than to strengthen a field that is inadequately understood by many American business leaders and others in our society?
"Even though the media often talk about the global economy, and many businesses in the U.S. and abroad are responding to the global market, in my opinion, an adequate understanding of foreign exchange and international financial and monetary affairs frequently appears lacking," he added. "It is my hope that this chair will stimulate and benefit the field with the appointment of an outstanding professor. I therefore hope, that, in some small way, it will be a positive contribution."
Sondheimer's total giving to the University is over $1.6 million. He is a longtime supporter of the GSB and the College.
"Joe Sondheimer has been a loyal friend of the GSB for years," said Robert Hamada, Dean of the GSB. "He has worked on our advisory council and is currently an honorary member, and he has backed us with generous annual support. Now he has invested personally in our teaching and research mission by establishing this chair. It is a terrific gift, and we appreciate it."
Sondheimer concentrated in economics in the College and received his M.B.A. from Harvard. He returned to Chicago as a financial analyst with the investment firm Stein Roe & Farnham Inc., becoming a partner in 1955. He was vice chairman of the firm from 1972 to 1982 and continues his association with it in his retirement.