Dr. Charles J. (Joe) Coate has been named the first McQuade Faculty Fellow in the Department of Accounting at St. Bonaventure University. The McQuade Faculty Fellows are funded through the McQuade Center for Accounting Excellence, established in 2011 by Gene, ’71, and Peggy McQuade’s $2 million gift.
Dr. Carol Fischer, dean of the School of Business, said the money allows the accounting department to fund initiatives to support faculty and students. The goal is to enhance the program that already received accolades in the spring of 2015 when Master-of-Finance.org ranked the university’s accounting program as ninth out of more than 500 small colleges in the U.S.
Coate serves as the chair of the accounting department.
As a McQuade Faculty Fellow, Coate earns a personal stipend, and is given a budget to support teaching, research or service expenses for mission-based initiatives. The stipends are renewable each year.
Coate said the stipend for initiatives can be used to support the mission of the accounting department, such as hiring students to help with service or research projects. He said he hasn’t determined how to spend the funds yet.
“I need to think of something special, a really added value for these funds,” Coate said. “I hope to, in the next calendar year, make some investments with those funds.”
Fischer said Coate has notably integrated the university’s mission in his research, teaching and service. Coate presented and published research on business ethics and Franciscan values. He also serves as coordinator of the Pacioli Scholars Program.
“This appointment is in recognition of those contributions and to encourage Joe’s continued engagement in mission-related activities,” Fischer said.
Coate said the first major investment of the McQuade Center was to finance the McQuade internship program, where Bonaventure students receive summer internships and are mentored by a faculty member.
“We first spent money to help students. That reflects the values of the entire department,” Coate said. “We’re trying to make sure Gene and Peggy’s intentions of supporting accounting education are honored. That’s our whole goal — preparing students for professional careers where they can positively impact society.”
Gene McQuade, who was an accounting major, said his Bonaventure education laid the groundwork for his business career.
Recently retired as the CEO and vice chairman of Citibank, he previously held executive positions at Merrill Lynch, Bank of America Corp. and FleetBoston. He is a member of the board of directors of both Citigroup and Citibank, and recently joined Promontory Financial Group as a vice chairman of the firm’s advisory board.
He is also chairman of XL Group PLC, a trustee of the Boys & Girls Clubs of America and the American Ireland Fund, as well as a director of Catholic Charities in New York.
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