2 million to University of Tennessee at Chattanooga
Two leaders in the world of international finance will make a big gift today to the University of Tennessee at Chattanooga.
The $2 million contribution will benefit both the College of Business and the UTC Mocs football program.
Renee Haugerud and John H. Murphy are giving $1.5 million to establish the Renee Haugerud and John H. Murphy Global Finance Center at the business school. Another $500,000 is being given to university’s football program.wholesale nfl jerseys from china
“The Haugerud Murphy center will give students the opportunity to see how finance is practiced on the world’s stage,” said Dr. Richard Casavant, dean of the College of Business. “To us, this is a really big deal.
Both Ms. Haugerud and Mr. Murphy have long resumes in world of finance, making millions by running high yield hedge funds. The company run by the couple, Galtere Ltd., is said to have yields that have topped 18 percent, according to Barron’s magazine.
Ms. Haugerud is the managing principal and chief investment officer for the fund and Mr. Murphy is chief development officer. Mr. Murphy is a UTC alumnus, and the couple owns a home on Lookout Mountain, Tenn.
Dr. Casavant said the money will be used to add technology and recruit new staff to the business school’s finance wing.
Roughly 1,900 students from all business majors at the undergraduate and graduate levels will have an opportunity to use the global financial center, UTC spokesman Chuck Cantrell said.
“This center has the ability to do what the SIM Center did for the engineering program,” Mr. Cantrell said. “It’s meant to be a unique draw for faculty and students.”
Ms. Haugerud, who made her fortune by investing in such unique ventures as the export and domestic sunflower markets, has indicated to school officials that the new center should work to educate more women in the finance industry.
“Certainly, both genders will be more than welcome, but as one of the few, if only, women in her field, Ms. Haugerud feels like the world of finance could use less testosterone,” Dr. Casavant said. “The center will offer women the foundation for a successful career in finance and business and ultimately, cultivate essential life skills.”
Mr. Murphy was a walk on for the UTC football team as a long snapper and played with new Mocs coach Russ Huesman, as well as offensive line coach Russ Ehrenfeld.
After moving back to the area last year, Mr. Murphy attended numerous practices in the spring and fall and had several conversations with former coach Rodney Allison about upgrades that needed to be done to help the program.
Mr. Murphy purchased the Mocs’ blue jerseys that the team wore for the first time last season against Jacksonville State University.
UTC Athletic Director Rick Hart said plans for the donation, called a restricted gift because it only supports one program rather than all UTC sports, have not been finalized, but they could include an upgrade to Scrappy Moore Field, the Mocs’ practice facility.