AU College of Business receives $40 million gift - WTVM.com-Columbus, GA News Weather & Sports

AU College of Business receives $40 million gift

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Auburn's nationally ranked College of Business will soon undergo a major facelift starting with its name.

The college will now be known as the Raymond J. Harbert College of Business, a move made possible by a 40 million dollar commitment from AU alumnus Raymond Harbert.

"The vision is to be among the elite business schools in the U.S. and you don't get there without a major investment such as Mr. Harbert has made in the College of Business," explains College of Business Dean, Bill Hardgrave.

Harbert is the CEO of Harbert Management Corporation, a Birmingham based investment firm. Friday served as his final day as the pro tempore of the AU Board of Trustees.

The board approved the naming of the college at its meeting Friday morning, June 21.

"Going back to the biblical quote 'to whom much is given much is required,' I think Katherine and I very much believe in that, not just in Auburn, but at numerous institutions across the state and country," says Harbert. "This is just a logical place to make an investment of this type." 

The 40 million dollars will be used in the next ten years to create additional eminent scholar and endowed chairs to recruit top faculty members, establish research centers, and enhance technology in the classroom.

A new doctoral program in Finance will also be implemented in the fall of 2014.

"You will see some changes very soon," states Hardgrave, "but as Raymond said, this is something that, as you build these centers of excellence, as you build these programs, it takes awhile."

A portion of Harbert's donation includes a 15 million dollar matching gift, challenging other graduates to help the college grow.

"What we are trying to do through this gift is up the total intellectual capital that the College of Business brings to the table for the education of these fine young people we have at the college," explains Harbert.

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