In Memoriam

We honor the memories of FMA members who have passed away and recognize their intellectual contributions, mentorship, and friendship to the finance profession.

James Gentry 

James A. "Jim" Gentry, 93, of Champaign passed away July 25, 2024, in Urbana.

Jim graduated from Indiana State University with the intention of becoming an educator. After retiring from the Air Force, he earned a master's of business administration at Indiana University, which led to a position as stockbroker with Dean Witter in the San Francisco area for five years. But the desire to be an educator lead him back to his Indiana roots, where he earned a Ph.D. in finance from the Indiana University School of Business.

He joined the faculty of the University of Illinois Finance Department in September 1966. In his 50-year career, Jim served as associate dean and the Investors in Business Education Distinguished Professor of Finance and on numerous academic committees and campus-wide boards and committees. He received three Fulbright scholarships at the Indian Institute of Management in Bangalore, Toyko International University and Tuscia University in Viterbo, Italy.

Jim was Vice President of the 1986 FMA Annual Meeting Program.

Tarun Mukherjee 

University of New Orleans finance professor Tarun Mukherjee, who spent more than four decades as a faculty member at the University of New Orleans where he established a scholarship, created a $50,000 student-managed fund, and help create an on-campus finance trading lab, died June 11. He was 78.

Mukherjee, whose primary expertise was in corporate finance, donated $100,000 to establish the Kali C. and Sushila B. Mukherjee Student-Managed Fund and the Kali and Sushila Mukherjee Trading Lab because he said he wanted to give UNO finance majors real-world experience in portfolio management.

Mukherjee was hired at UNO as an assistant professor in economics and finance in 1981. He was promoted to associate professor and granted tenure in 1985. He was promoted to full professor in 1987.

Michael C Jensen 

Michael Cole Jensen (Mike) died on April 2nd, 2024 at the age of 84. Mike was a brilliant and renowned scholar of financial economics, an impactful teacher and mentor, a successful entrepreneur, a generous and loyal friend, and a great father.

Throughout his life, Mike believed a critical factor in advancing scholarly thought was the free flow of information. In the mid-1970s he perceived the preeminent financial and economic journals of the time were reluctant to embrace new concepts that were being posited by his younger generation of scholars. Ever the disruptor, Mike co-founded and edited the Journal of Financial Economics to create competition to the entrenched journals that had gone stale in their thinking. It was a great success, becoming a preeminent journal itself.

In the mid-1990's Mike once again played disruptor, this time to the inefficiency of sharing early research and eventually to the legacy publishers of academic journals. Early on, he identified the newborn-internet as the way to share early-stage research papers, rather than using the mail. SSRN.com (Social Science Research Network) was born and it became the largest open access, on-line, social sciences working paper repository in the world. It has made sharing research vastly more efficient and has democratized access to academic information. 

Mike was the inaugural speaker in FMA's Pioneers in Finance Series and an FMA Fellow.

Eugene "Gene" Brigham

Dr. Eugene F. Brigham, the author of one of the best-selling finance textbooks passed on March 17, 2024 at the age of 94. 

After his Navy tour serving as a supply officer on a destroyer in the Mediterranean, he went on to graduate school – choosing business school over law school because the registration line was shorter. That fortunate decision led to a successful career as a finance professor, textbook author, and consultant and expert witness in the public utility industry. After receiving his MBA and PhD from UC Berkeley, Gene had another lucky break during his time as a young associate professor at UCLA when his boss asked if he would be interested in a summer project updating a finance textbook. With his ability to clarify complex topics and bring in real-world examples that students could relate to, Gene eventually created a family of top-selling finance textbooks, including "Fundamentals of Financial Management," "Intermediate Financial Management," and "Financial Management Theory and Practice." His books, some of which are now in their 17th editions, are used at more than 1,000 colleges worldwide and have been translated into 11 languages.

Gene began his career at the University of Florida as a finance professor in 1971. He served in his role at Warrington for more than 30 years, during which time he also co-founded the Public Utility Research Center (PURC) to enhance the understanding of issues facing energy, telecommunications, water utilities and their regulatory agencies. The Eugene F. Brigham Finance, Insurance, and Real Estate Department at UF’s Warrington College of Business is named in his honor for his many contributions to the business school. More recently, he created the Brigham Finance Excellence Fund to support development, networking, and leadership opportunities for undergraduate finance students. 

Gene was an FMA Founder, Vice President - Program of FMA's first Annual Meeting in 1971, FMA President and is an FMA Fellow. 

Anita Glover 

We are deeply saddened to share news of the unexpected passing of Anita Glover.

Originally from Baltimore, she moved to Tampa and became FMA's second full-time employee in 1985. Anita played an integral role in making FMA successful. The consummate team player, she stepped into any position she was asked to fill. During her career with FMA, she excelled at a myriad of roles too numerous to list. At the time of her retirement in 2007, she was the Director of Placement Services, helping candidates and employers navigate interviewing and job searches with compassion, sensitivity and kindness.

After retirement, she founded Happy Scraps with her daughter, creating custom children's decor. Her happy place was behind a sewing machine creating designs that made people smile.

She is survived by her daughter, Michelle Glover Kolch, who  was formerly FMA's Director of Student Programs and her much-loved grandchildren, Jazzy and Bear.

Anita was a cherished colleague and will never be forgotten by those that were fortunate enough to have known her.

Pete DaDalt 

John Haslem 

John A. (Jack) Haslem, professor emeritus of finance, the founding academic affairs dean and founding chair of the finance department at the University of Maryland’s Robert H. Smith School of Business, passed away on Oct. 8, 2023.

Jack joined the university’s faculty in 1969 and established the first security analysis course in a collegiate business school dedicated to mutual funds, for which he would later receive the Panhellenic Association's "Outstanding Teacher Award."

He was a renowned researcher, respected by colleagues in the field for his mutual funds research focusing on financial issues, regulation, expense ratio, normative transparency of disclosure and other policy issues.

During his career, he produced over 150 publications, including more than 65 books and articles appearing in the Journal of Investing, Journal of Index Investing, Institutional Investor’s “A Guide to Small-Cap Investing” and “Exchange-Traded Funds: New Approaches and Global Outreach,” Journal of Indexes, Financial Services Review, Journal of Wealth Management and others. He also served as a consultant to NASA, the U.S. Department of Justice, and numerous banks and law firms.

Donald Tuttle 

Donald Latham Tuttle, 88, passed away on August 21, 2023.

Don earned a charter from the Institute of the Financial Analysts in 1971, which began a lifetime of service, first as a volunteer and then as his second career in Charlottesville, Virginia, 1992-2007, as a Senior Vice President. He was a major contributor to the chartering process bringing order, rigor, and innovation to the curriculum, examinations, and the grading process. He was responsible for deciding to use a psychometric consultant to verify the validity of the CFA examination which are granted with worldwide distinction in the field of financial careers. A CFA charter requires three years of study with an examination at the end of each year.

Dr. Tuttle is a former President, Vice President, and director of the Financial Management Association and received the FMA Fellow Recognition Award for his service. He was Associate Editor of The Journal of Finance and Financial Management. 

Richard Sweeney 

Richard J. (Dick) Sweeney, emeritus professor of economics and international finance at Georgetown University’s McDonough School of Business, died July 30, 2023.

An alumnus of UCLA with a Ph.D. from Princeton, he taught at UCLA, Texas A&M, Claremont McKenna College, and Claremont Graduate University. While he was at CMC from 1977 until 1989, he was one of the editors of Economic Inquiry. He and his family have lived in Claremont for a total of 24 years. They moved from Claremont and lived in Alexandria, Virginia for 23 years, then returned to the City of Trees.

Before his retirement from Georgetown in 2015, he enjoyed traveling and spent summers and sabbaticals teaching at the University of Gothenburg in Sweden and the Copenhagen Business School in Denmark. He and his Swedish colleague, Clas Wihlborg, traveled together in eastern Europe and witnessed the changes in Poland, Lithuania, and Estonia after the fall of the Soviet Union.

Dick served as the European Conference Program Co-chair for the 2000 European Conference in Edinburgh, Scotland.

Harry Markowitz 

Harry Markowitz passed away on Thursday, June 22, at the age of 95.

Dr. Markowitz is considered to be the father of modern portfolio theory which is taught in many finance courses today.

Dr. Markowitz published numerous articles in the Journal of Finance, including his dissertation paper from 1952, “Portfolio Selection,” which remains one of the most highly cited works to appear in the Journal. He received the Nobel Prize in Economics in 1990 for this path breaking and foundational work.  

Dr. Markowitz was a professor at the University of California, San Diego and received his Ph.B., M.A., and Ph.D. from the University of Chicago.

Mark Gruskin 

Mark R Gruskin, Ph.D: Age 69, associate professor of finance and accounting at Pennsylvania State University Lehigh Valley, passed away May 15, 2023 at his residence in Bethlehem, PA.

He was the son of the late Jack and Shirley Gruskin and is survived by several cousins as well as numerous friends, colleagues, and students in the Penn State community.

A native of Churchill, PA,  Dr. Gruskin received bachelor’s and master’s degrees from Penn State and spent most of his career working for Ford Motor Co., beginning as a financial analyst and retiring 27 years later as manager of the Fordstar Dealer Communications Network.

Upon his retirement from Ford, he returned to academia, earning a doctorate in finance from Wayne State University in Detroit. He then joined the faculty at Penn State Lehigh Valley and was later appointed associate professor. He also served a stint there as interim director of academic affairs.

Ed Kane 

Edward J. Kane, an economist specializing in banking and financial regulation, passed away on March 2, 2023 in Tucson, AZ. 

The highly-cited author of three books and hundreds of academic articles was one of the few economists to foresee the S&L debacle of the 1980s. Dr. Kane was a man of diverse interests. Inspired by comic books and horror movies, he introduced the now-ubiquitous term Zombie Bank to the lexicon of financial writing.

Professor Kane earned a BS from Georgetown and a Ph.D. from MIT. He taught at Princeton, Iowa State and Boston College before accepting the Everett D. Reese Chair of Banking and Monetary Economics at the Ohio State University, which he held from 1972 to 1992. In 1992, he returned to Boston College to serve as the first James F. Cleary Professor in Finance until 2009.

He is a past president and fellow of the American Finance Association, a Research Associate of the National Bureau of Economic Research. A founding member of the Shadow Financial Regulatory Committee, he also served for twelve years as a Trustee and member of the Finance Committee of TIAA CREF, consulted for the World Bank and was a Senior Fellow in the FDIC's Center for Financial Research. Much of his recent work was produced with the support of the Institute for New Economic Thinking.

Ken Small  

Kenneth W. “Ken” Small Jr., 47, passed away January 13, 2023.

After earning a bachelor’s degree in finance, he went on to earn master’s degrees in international banking and economics and a Ph.D. in finance as well as several professional certifications in his field.

Never one to sit still for long, Kenneth was always learning new things and trying new hobbies. This accounts for the long list of credentials earned throughout his education and career as a professor of finance as well as his varied interests (some fleeting and others longer lasting) in activities like paddle-boarding, cooking, gardening, playing videogames and even judging barbeque. 

Kenneth was known for his outgoing and fun-loving personality and his sense of adventure and spontaneity.

Ronald Lease 

Ron Lease passed away on October 9, 2022.

Ron earned his MBA and PhD In Finance from Purdue University. Ron's first academic positions were at University of Utah, where he later held an endowed research professorship and was chair of the finance department. Ron went on to hold an endowed research professorship and was an associate dean at Tulane University. Afterwards, Ron and Judy returned to the University of Utah where they eventually retired from full-time academia.

During his career, Ron held visiting faculty professorships at Purdue, University of Michigan and University of Chicago. Ron won teaching awards at every stop along the way.

Ron’s research articles were highly cited over the last 20 years. His co-authored book—Dividend Policy— was published by the Harvard Business School Press. In retirement, at the urging of his family, Ron enjoyed writing his autobiography—Sandstone Canyons and Granite Peaks.

Following retirement Ron and Judy held part-time positions at University of Arizona and at an international graduate school in Hanover, Germany. They chose Grand Junction as their ideal retirement destination: Ron had been absent from GJ for 50 years. Ron loved the outdoors, traveling and eating a delicious meal in good company. He enjoyed time with family - and gathering in their beautiful cabin in Driggs, Idaho. His dedication to family and close friends and his wry sense of humor were with him until the end.

Ron served as Vice President - 1990 FMA Annual Meeting, President, 1992 - 1993, and was an FMA Fellow.

Stuart Michelson 

Stuart Michelson, PhD, Finance Department chair and former dean of the business school who received many honors in his 20 years at Stetson, passed away Monday, March 28, 2022.

Michelson amassed an impressive list of accomplishments after joining Stetson in August 2001 as the Roland and Sarah George Professor of Finance. Through the years, he also was director of the Executive MBA Program from 2007 to 2012; Dean of the School of Business Administration from 2009 to 2012; and a mentor to hundreds of students.

He published more than 100 academic journal research articles. His research focused on such areas as behavioral finance, Social Security retirement decisions, mutual fund performance, personal finance and tax efficiency in retirement accounts.

Upinder Dhillon 

Upinder Singh Dhillon, 71, passed away on April 23, 2022, after a brief but heroic battle with cancer. He spent 35 years serving the community at Binghamton University, including a 21-year tenure as Dean of the School of Management. During that time, he had an immeasurable impact on students, staff, alumni, faculty and friends of the University. He was extremely proud of all that was accomplished under his tenure at the School of Management. The school received numerous accolades including recognition as one of the top business schools in the country. But his passion was always serving the students of the University, and his greatest pride was playing a supporting role in their accomplishments in the field of finance and beyond.

Dhillon began his career as a project engineer and assistant plant manager at Shriram Chemicals in Kota, India, before shifting his focus to finance. He earned his MBA and PhD at Louisiana State University, and came to Binghamton as a visiting assistant professor of finance in 1987, becoming a tenure-track assistant professor two years later. Dhillon received numerous awards for teaching and research in the years following, including the SUNY Chancellor’s Award for Excellence in Teaching. In 1997, he was promoted to professor and named a Koffman Scholar.

Dhillon was named dean of SOM in 2001. Over the following two decades, SOM saw significant growth in a number of areas. 

Jan Bartholdy 

Jan Bartholdy, Associate Professor at Aarhus University, passed away on January 23, 2022.

Jan was born in Copenhagen and began his studies as cand.polit. there but chose to finish his studies at Queen’s University in Canada.  After graduating, Jan was employed at Saint Mary’s University in Canada. Following a couple of years in Canada, the course was set for New Zealand where he was employed at the University of Otago in Southern New Zealand. After 10 years in New Zealand, the family settled in Malling, Denmark, and in 1999, Jan was employed at Aarhus School of Business, now Aarhus University.

Around the same time as Jan’s employment, Aarhus School of Business had initiated an internationalization of the school’s study programmes. Jan’s international background proved very useful here, and Jan’s personality was also a decisive factor in the great success of the new master’s degree programme. Jan’s personal approach to the students and his eminent teaching skills made him a highly valued lecturer and key figure in the establishment of the study programme. Jan was a popular lecturer who had high expectations of his students – which was greatly appreciated by them.   Throughout his career, Jan has been a dedicated and committed researcher – wide-ranging within corporate finance – and with a large, international network.

Frank Reilly  

Frank K. Reilly, the Martin J. Gillen dean emeritus and the Bernard J. Hank professor of finance in Notre Dame’s Mendoza College of Business, passed away on September 23, 2021.

Frank graduated from Notre Dame in 1957. He then received an MBA from Northwestern University and a doctorate from the University of Chicago.

He held the position of dean of the Mendoza College of Business from 1981-1987 and the Bernard J. Hank professor of finance title from 1987-2015. During his time at the University, Reilly specialized in research on security analysis and capital markets, wrote several books and received many teaching awards, including the Notre Dame Faculty Award in 1999, given in recognition of outstanding service to the University. 

Frank worked to advance the College of Business through creating the accelerated one-year MBA program, the Executive MBA program, as well as codeveloping the signature Applied Investment Management (AIM) course with John Affleck-Graves, former Notre Dame executive vice president and finance professor, and Scott Malpass, former chief investment officer and assistant finance professor.

Frank was Vice President of the FMA Annual Meeting Program, FMA President and was one of the inaugural inductees as a FMA Fellow.

Richard McEnally

Richard McEnally passed away on Sunday, September 12, 2021.

He received a baccalaureate degree from Washington and Lee University in 1964, where he was a member of Phi Beta Kappa honorary fraternity and Lambda Chi Alpha social fraternity. He was awarded a Masters of Business Administration from the University of North Carolina—Chapel Hill in 1965, and a PhD in finance from UNC in 1969. He was on the faculty of the School of Business at the University of Texas—Austin and for many years the Kenan Flagler Business School at the University of North Carolina—Chapel Hill, where he retired in 2001 as the Meade Willis Professor of Investment Banking.

Richard was the Vice President of the 1989 FMA Annual Meeting Program, served as FMA President from 1990 - 1991 and served on the FMA Board of Trustees from 1991 - 1998.

Gang Hu

Gang Hu passed away on 25 August 2021 in Hong Kong.   

In 1996, Gang graduated from Tianjin University and received a full scholarship from the University of Pittsburgh to study for a doctorate degree in Management Science in the United States. In 1997, he transferred to the doctoral program at Boston College, this time majoring in finance. After two years, Gang took a break to work in industry: he worked at the trading group at Fidelity Investment Group during this period. During this period Gang also achieved a designation as a Certified Financial Analyst (CFA). He returned to the Boston College Doctoral program in Finance after two years in industry and completed his Ph. D, Dissertation, titled “Three Essays in Institutional Trading and Corporate Finance” under the guidance of his dissertation adviser, Professor Thomas Chemmanur of Boston College.

After he got his Ph.D.in Finance in 2005, Gang joined as an Assistant Professor of Finance at Babson College, Boston, serving there for approximately ten years. During this period, he published a number of very important papers in top journals in Finance. 

Much of Gang’s research during period was on institutional trading and made use of the “Abel Noser” database which provides transaction-level data on trading by financial institutions: Gang was considered one of foremost experts on this research database in the world (and a top expert on institutional trading in general). 

James Bicksler  

James Lazaroff Bicksler, Professor Emeritus, 84, formerly of Upper Montclair, passed away peacefully on July 30, 2021.

Born and raised in Belvidere, Illinois, Dr. Bicksler was a resident of Upper Montclair for most of his life. He earned his undergraduate degree from Beloit College and went on to earn his PhD from NYU Stern School of Business. This led to a lengthy career as an Economics and Finance Professor for many universities around the world including forty-nine years with Rutgers University. He was a member of the New York Economics Club, the American Finance Association, a lifelong fan of his Chicago Bears, a fan of the Olympics having attended many Olympic events over the years and was an avid traveler.

Stanley Block

Stanley "Stan" Block passed away on July 11, 2021.  

Born in Corpus Christi, on Oct. 4, 1939, Block began teaching at TCU in 1967 after receiving his bachelor’s degree from the University of Texas at Austin in 1961, an MBA from Cornell University in 1964 and a Ph.D. from Louisiana State University in 1967.

In 1973, he developed the nation’s first student-managed investment portfolio known as the Educational Investment Fund. The fund is still operating.
Larry Lockwood, who co-advised with Block on the investment portfolio from 1994 until Block retired in 2011, said it was revolutionary because it gave students real-world training and knowledge in the field of finance.

In 2002, Block was the first professor to hold the Dr. Stan Block Endowed Chair in Finance, the only chair ever created by students to honor a professor in TCU’s history. When he was awarded the chair, 90 students attended the ceremony to make comments on their favorite memory with their professor.

David Shrider

David Guy Shrider passed away on June 25, 2021, while backpacking in Alaska.  

David graduated from Miami University with a degree in Finance and Economics in 1992 and a Ph.D. in Finance from the University of South Carolina in 2003. He returned to Oxford as a professor in the Farmer School of Business Department of Finance in 2004. In 2017, he was named the Director of Global Business Programs. Shrider was selected as the 2015-16 Don Loss Volunteer of the Year by the Red and White Club and honored as Outstanding Professor by the Miami University Associated Student Government in 2020. He was a beloved member of the St. Matthew Lutheran Church in Darrtown, Ohio.

David is known for his generosity of spirit and his amazing outlook on life. He was a world traveler who guided countless others; family, and students around the globe. He was a dedicated and tireless teacher - a class act dressed in a bow tie with a Coca-Cola in hand. David was a beloved professor and catalyst for developing a robust global program at Miami University. He was an avid sports fan, especially of the Miami Redskins, South Carolina Gamecocks, and the Talawanda Braves, and enjoyed every minute of watching his sons play sports. His talents extended well beyond the classroom. He was an accomplished woodworker, morel hunter, fisherman, and baker of pies. David was a keen hiker who enjoyed planning amazing trips around the world. Most of all, he loved escaping to Canada's Georgian Bay with his extended family every summer.

John Griffith 

John M. Griffith, a resident of Norfolk, VA, passed away on June 19, 2021, at the age of 68 at Maryview Hospital in Portsmouth.

John was born in Baton Rouge, LA, on March 12, 1953. He attended University of Arkansas where he served as President of Sigma Alpha Epsilon fraternity. He graduated from University of Southwestern Louisiana with a degree in Economics followed by a career as a banker and a stock broker in Baton Rouge. He returned to academia in 1992 at the University of Alabama where he received the Award for Outstanding Graduate Teaching Assistant and earned his doctorate in Finance in 1995. Thereafter, he taught at the University of West Florida and University of Minnesota Duluth before moving to Norfolk in 1999. During his tenure at Old Dominion University, he was a dedicated professor, prolific researcher and publisher, and served as department chair and on many other committees. He earned awards for his teaching and devotion to the ODU College of Business and Public Administration.

John was very passionate over the course of his life about many pastimes from golf and marathon running to fishing and scuba diving. Everything he attempted, he did to the fullest. He was an avid dog-lover who cared deeply for his own dogs and all animals. He volunteered with various rescue organizations over the years as well as his neighborhood soup kitchen when he first moved to Norfolk.

Thomas Suydam 

Thomas W. Suydam of South William Street, Johnstown, died peacefully at home on May 15, 2021. He is survived by his wife, Patsy of Johnstown; sister Kristina (Ernie Reynolds) of Aurora, Ontario; nephew, Brett Reynolds (Jennifer) of Ottawa, Ontario; three stepdaughters: Genevieve (Chris Kurpuis) and Lauren Willoughby of Pensacola, FL and Vivian (Harvey Yancey) of Charlotte, NC.

A native of Gloversville, Thomas graduated from Gloversville schools and received undergraduate and graduate degrees from Babson College in Wellesley, Massachusetts. He taught accounting, finance and investments at Nichols College before returning to the local area where he worked as a CPA until retirement. He was recently planning a run for the position of Johnstown City Treasurer.

His accounting career included progressing to partner status at the Dorfman CPA firm and Chief Financial Officer of Capitol Vial Inc. For years, Tom owned the Illustrated Properties real estate agency on Route 30 in Mayfield. In retirement, he often helped area homeowners seeking equitable assessments and was usually successful.

He was one of the founding lifetime members of FMA.

Lynn Doran  

P. Lynn Lanz Doran of McLean, VA, passed on March 16, 2021 at the age of 68. Formerly of Pittsburgh, PA. Beloved wife of 43 years of Vincent F. Doran, loving mother of Kelly Maureen Doran (Matthew Santo) of Dobbs Ferry, NY, and Sean Michael Doran (Jillian Collins) of Alexandria, VA. Devoted grandmother of Mila Doran Santo, Quinn Marie Doran, Sloane Josephine Doran, and Joseph Doran Santo. Lynn is also survived by her sisters Peg (late William) Mangan of West Mifflin, PA, Laurie Lanz of Valencia, PA, and Cathie (James) Adams of Gibsonia, PA, and by in-laws Patricia (late Ken) Boyle of Titusville, FL, David (Sharon) Doran of Hayward, CA, Barbara (John) Hill of Watsonville, CA, Paul Doran of McLean, VA, Judy (late David) Dyda of Titusville, FL, and Maribeth (John) Palermo of Lockport, NY. Lynn is also survived by numerous nieces and nephews.

Lynn retired from the McDonough School of Business at Georgetown University where she served as a Teaching Professor of Finance for 23 years. She was the first business school professor to win the Dorothy Brown Award, a university-wide award for Outstanding Teaching Achievement, having been voted by students as the best professor. Lynn was also recognized by BusinessWeek as one of the top undergraduate business professors in the country.

Clas Wihlborg 

Clas Wihlborg passed away suddenly on March 13, 2021.

Clas joined the Argyros School faculty at Chapman University in 2008 and held Fletcher Jones Chair in International Business. He completed his Ph.D. in Economics at Princeton University and has been a prolific author in International Finance, Institutions, and Law and Economics.

He has held faculty positions in Finance and International Business at New York University, University of Southern California, Göteborg University in Sweden, University West in Sweden (Högskolan Väst), and the Copenhagen Business School (CBS) in Denmark, where he was Director for the Center for Law, Economics and Financial Institutions (LEFIC). Clas served on the European Shadow Financial Regulatory Committee and the Royal Swedish Academy of Engineering Sciences (IVA). He also holds an Honorary Doctorate from Lund University in Sweden.

At the Argyros School, Clas founded the Chapman Conference on Money and Finance and co-founded and organized for several years the MBA Travel Course Business in Scandinavia.

Clas served as the FMA European Conference Program Co-Chair in 2002.

Harold Bierman 

Harold Bierman, Jr. passed away on February 12, 2021.

Dr. Bierman’s professional career was centered at the Samuel Curtis Johnson School Graduate School of Management at Cornell University in Ithaca, New York. There he served for 59 years as a professor of finance, accounting and management where he taught and mentored thousands of students. In 1961 he was awarded the Nicholas H. Noyes Chaired Professorship of Business Administration and in 2010 the Harold Bierman Jr., Distinguished Professorship of Management, which was established in his honor by grateful alumni. There have been few business educators with as broad and deep an impact as his.

His professional accomplishments include scores of articles and dozens of books the most famous of which is The Capital Budgeting Decision co-authored with Seymour Smidt and first published in 1966 (the ninth edition of which was published in 2007). In this and many other venues, Hal’s most significant achievement was developing and championing a road map to evaluate the merits of different investment options whether in private business, the public sector, or for individuals. These are tools used by nearly every organization on a daily basis. So common are their applications that they have transcended the need for attribution to their key developer.

In 2001, after having served for years as an advisor to the development of the business program at the University of the West Indies in Trinidad, Dr. Bierman received from the University an honorary Doctor of Law (LL.D) degree.

Louis Ederington 

Louis Ederington passed away on February 4, 2021. Louis was born May, 10, 1944, and spent his childhood years in Warren, Arkansas. Louis attended Hendrix College from 1962-1966, where he developed two loves: first, Economics, and second, his life partner, Anne Jewell, whom he met in the December of 1963. Anne and Louis were married June 11, 1966, and began their graduate studies at Washington University in St Louis, Missouri. Louis obtained his PhD from Washington University. He then accepted a teaching position at Georgia State University, so he, Anne, and baby son Ben came to Atlanta. The family was soon joined by another son Josh, and they lived in Morningside, where Louis commuted by bus to GSU.

At GSU, Louis was beginning to move toward Finance, and spent some of his time with the Finance faculty. When he, Anne and the boys moved back to Washington University in 1984, he made the switch permanent. He spent five years at Washington University in St Louis, until the boys graduated from high school, and went off to college. Then he again started exploring other options. He was given the Oklahoma Bankers Chair in 1989, and he and Anne moved to the University of Oklahoma in Norman and the now Michael Price College of Business. They spent 25 years at OU, renovating an older home and enjoying all of the theatre and sports and art on the campus.

Louis, with Anne went on sabbaticals, teaching and doing research at several Universities: the University of Otago, in Dunedin, New Zealand; Singapore Management University in Singapore; the University of Queensland, in Brisbane, Australia; the University of Melbourne, in Melbourne, Australia. Louis was given the Michael Price Chair in Finance, and the George Lynn Cross Professorship in Research. When he retired he had many of his former students come back to OU for a series of seminars. His students wrote tributes including the words wise, collegial, generous, honest, and rigorous. On retirement he was designated Emeritus.

J. Harold Mulherin 

John Harold Mulherin III, 62, of Athens, GA passed away in Savannah, GA on January 13, 2021. 

Harold was an accomplished academic and he had recently retired from teaching finance at his alma mater, the University of Georgia. Harold was passionate about travel, especially if it involved riding a bicycle or fishing, which took him all over the globe.

Vincent Jolivet 

Vince passed away peacefully in his sleep at age 90 on December 19, 2020. He was born in Shawinigan, Quebec to Michel Jolivet from Switzerland and Noémi (Bertrand) Jolivet from France. His was an endearing, inquisitive, exuberant, unreserved personality; a brilliant, lifelong learner and teacher; lover of travel, food, wine, and conversation in French or English; a devoted father; gregarious and made friends with people and animals; fan of visual and performing arts; active in community service with a belief in giving back to society; a kind and generous man.

He received a Bachelor's degree with Honors in Civil Engineering. He was accepted to Harvard Business School (HBS) where he earned a 1954 MBA and a 1957 Doctorate in Finance, both on full scholarship as a Baker Scholar. Vince became Professor of Finance and Statistics at the University of Washington (UW). During his tenure, the family, including three sons, spent 1961-62 in Switzerland where Vince was Professor of Finance at the prestigious International Management Development Institute. He served as visiting professor at Stanford Graduate Business School in 1965. In 1966 he accepted a position as VP in charge of all financial activities with Rocket Research Corp. By 1972, he began a 38-year career as consultant and expert witness in finance and economics, while still teaching a UW Business Policy course part-time from 1973-1983. Vince retired in 2010 on his 80th birthday.

Vince was a founding lifetime member of FMA.

Margaret Clark 

Dr. Margaret Theresa Clark, PhD, 95 years, a resident of White Horse Village, passed away peacefully on November 19, 2020. 

Dr. Clark was the beloved wife of the late John J. Clark, PhD.  Margaret Clark received her PhD from New York University and was an economist at Mobil Oil and a professor of finance at Villanova University.  Together, Margaret and her husband were instrumental in creating and helping to sustain the doctoral program at Drexel University’s LeBow College of Business.  

She was a founding lifetime member of FMA.

Adam Schwartz

Adam L. Schwartz, a long-time resident of Lexington, VA, passed away peacefully on August 22, 2020.

Richard "Dick" Bower 

Richard S. Bower, 91, of Hanover, N.H. died Wednesday morning, July 29, 2020, at home.

Dick taught economics at Alfred University and Vanderbilt University before joining the faculty at the Amos Tuck School of Business at Dartmouth College in 1962, where he remained until his retirement in 1990 (though he continued to teach until 1999). He was revered there by students and faculty alike.

A widely published scholar himself, in the areas of economics, finance, and regulation, Dick's professional activities also included serving as the editor of Financial Management, and as president of the Financial Management Association. 

A lifelong learner, Dick enjoyed taking classes through Dartmouth’s Osher Lifelong Learning Institute and attending seminars at Tuck. He might be found delving into mysteries written by female British authors, picking apart The Federalist Papers, or analyzing jazz music. He attended plays, operas, and movies but was equally at home cheering on his New York Yankees. Dick loved spending summers in Maine, traveling with his daughters to destinations ranging from the national parks in Utah to the rocky shoreline of Nova Scotia, reading, and doing Sudoku puzzles. He was a generous, thoughtful man with a wonderful sense of humor, and he will be greatly missed.

Bruce Benet 

Bruce Benet died unexpectedly at his home on Monday, July 27, 2020. He was preceded in death by his parents, Lona & Philip Benet. Bruce is survived by his wife of 34 years, Suzeanne; his children, Stephen & Andrew; father & mother-in-law, Marcelline & Hubert Barry; brothers, John (Gerard Lancaster) Benet, David (Caroline Counsel) Benet; several brothers & sisters-in-law; and several nieces and nephews. Bruce graduated from Cornell University, where he received a degree in Economics. He also was on the Cornell basketball team, the golf team, and was in the Navy ROTC program. He went on to get a Ph.D. in Finance from the University of North Carolina at Chapel Hill. Bruce had a successful career as a finance professor, and was a dedicated teacher and scholar. Over the span of his career, he served on the faculty at DePaul University, Seton Hall University, Michigan State University, Notre Dame University, Central Michigan University, and most recently the University of Buffalo (SUNY Buffalo). Bruce loved playing golf, traveling with his family, visiting museums (especially museums of impressionist paintings), playing disc golf with his family, and cheering on his beloved UNC Tar Heels. 

George Kaufman  

George G. Kaufman, Ph.D., renowned economist, researcher for and consultant to the Federal Reserve Bank of Chicago, economist who served Presidents Gerald Ford and Jimmy Carter, and was the John F. Smith Chaired Professor of Economics and Finance at Loyola University Chicago, passed away of Parkinson's disease on July 26, 2020 at age 87 at his home in Chicago.

One of the world's leading experts on banking, monetary policy, and financial stability, Prof. Kaufman founded and ran the Chicago Fed's Conference on Bank Structure and Competition for 50 years-the longest-running conference series in the Federal Reserve System, described by former Federal Reserve Chair Alan Greenspan as the leading conference in the world addressing financial regulatory issues.

Prof. Kaufman helped found the U.S. Shadow Financial Regulatory Committee in the mid-1980s, whose goal was to have a formal platform to critically evaluate financial policy recommendations. Prof. Kaufman was the committee's co-chair from its inception through 2017.

From 1981 to his retirement in 2017, Prof. Kaufman held the Smith Chair in Loyola University Chicago's Quinlan School of Business' Finance Department and was a consultant to the Federal Reserve Bank of Chicago. He authored over 200 scientific papers and wrote or edited numerous books.

Victor Gerdes 

Victor Gerdes, 98, of Middletown, died at his home on Saturday, July 25, 2020.

A retired university Professor of Finance, he received his undergraduate degree in finance from Texas Tech University and M.S., Ph.D., and J.D. from the University of Wisconsin, Madison. He was a full professor at New York University; Northwestern University; Rider University; University of Lagos, Nigeria; Khartoum University, Sudan; Haile Selassie I University, Ethiopia; and a visiting professor at the University of California, Berkeley; and at Youngstown State University . He served as a faculty member at the University of Wisconsin, Beloit College, and the University of Georgia. He lectured at universities in Belgium, England, France, Holland, Italy, and Switzerland. Additionally, under the auspices of the American Council on Education, he served as Academic Planner and advisor to the Vice-Chancellor at the National University of Lesotho, Africa. He was a former Vice President for Academic Affairs at the College of Insurance, New York. From 1954 to 1957, he served as the Director of Research of the Association of Casualty and Surety Companies, now the American Insurance Association.

He was a charter and life member of the Financial Management Association, a life member of the American Economic Association, and an emeritus member of the Wisconsin Bar Association, and belonged to various other professional organizations. He was admitted to the State Bar of Wisconsin in 1953. A long-time member of the Travelers Century Club, he visited over 100 countries and island groups. After his retirement, he studied languages in Germany, Italy, and Spain.

Hans Stoll 

Hans Stoll, the Anne Marie and Thomas B. Walker Jr. Professor of Finance, Emeritus, at Vanderbilt University’s Owen Graduate School of Management, died March 20, 2020. He was 80.

A pioneer in the world of academic finance, Stoll was the first to define and test the put-call parity relationship for option prices, and to identify the “triple witching hour,” a quarterly expiration of several kinds of derivatives contracts, resulting in greater trading volume and market volatility. He also undertook work around understanding the components and sources of the bid-ask spread.

Throughout his career, Stoll authored several books and over 60 published academic articles. He also served on the editorial boards of a variety of financial journals, including Financial Management. Stoll served as president of the Western Finance Association from 1992 to 1993, president of the American Finance Association from 1999 to 2000, and on various government and industry advisory panels, including the Quality of Markets Committee of the NASD, formed to study the 1987 stock market crash.

E. Bruce Fredrikson 

E. Bruce Fredrikson, Ph.D., 81, of Wall Township died unexpectedly on Thursday, December 5, 2019 at Ocean Medical Center, Brick.  Dr. Fredrikson was born in New York and had lived in Scarsdale, NY, Syracuse, NY and Wayne, PA before moving to The Monmouth in 2016.  He was a Professor of Finance at the Wharton School of Business and Syracuse University for 39 years, retiring in 1999. Bruce received his undergraduate degree in Economics from Princeton University and his Ph.D. in Finance from Columbia University.  Bruce was an avid runner and a member of the Syracuse Chargers running club where he still holds multiple age-group records.

David Kidwell  

David S. Kidwell, 79, of Annapolis, Maryland passed away on November 28, 2019 at his home surrounded by loving family. 

David lived his life with great intensity and became a highly regarded business school dean, an expert in finance, the winner of numerous honors and awards, a member of a dozen boards, a keynote speaker and a popular commentator on key economic issues. After spending his early career in the corporate world, he found his calling in academia.

As a finance professor, he served on the faculty of Purdue University's Krannert Graduate School of Management and he held endowed chairs in banking and finance at Tulane University, the University of Tennessee, and Texas Tech University. In 1991 he was named the tenth Dean of the Carlson School of Management at the University of Minnesota. At his retirement, the University of Minnesota President called David the "father" of the current Carlson School, highlighting the many accomplishments under his watch.

Usha Mittoo  

Dr. Usha Mittoo passed away on September 14, 2019.