The Auburn School of Business will now be known at the Raymond J. Harbert School of business after a large donation was made to the university.
AU Trustee Raymond Harbert donated $40 Million to the university - the largest donation ever in AU's history.
"This is a historic day for the College of Business," College of Business Dean and Wells Fargo Professor Bill Hardgrave said. "We are proud to forevermore carry the Harbert name as a symbol of quality, hard work, entrepreneurial spirit, dedication and the Auburn spirit."
The donation was announced Friday morning at the Auburn Board of Trustees meeting.
Harbert serves as chairman and CEO of Harbert Management Corporation, a Birmingham-based independent investment firm founded in 1993, and as president pro tempore of the Auburn University Board of Trustees.
For more information read all about the donation on Auburn University's website.
Copyright 2013 WSFA 12 News. Auburn University contributed to this report. All rights reserved.