In the largest gift it has ever made to a Quebec university, Manulife Financial announced today a donation of $500,000 to Concordia University’s John Molson School of Business (JMSB).

The donation will go toward the establishment of a Professorship in Financial Planning and construction of a 120-seat amphitheatre in the new JMSB home that will open its doors next September on Concordia’s downtown Sir George Williams Campus.

(left to right) JMSB Dean Sanjay Sharma; Kathy Assayag, Concordia Vice-President, Advancement and Alumni Relations; Roy Firth, Manulife’s Executive Vice President, Individual Wealth Management; Concordia President and Vice-Chancellor Judith Woodsworth

Concordia President and Vice-Chancellor Judith Woodsworth welcomed more than 100 university officials and students and Manulife representatives at a ceremony to announce the gift.

Dr. Woodsworth said accomplished alumni like Manulife President and CEO Dominic D’Alessandro (L BSc 1967) and Roy Firth, (BComm 1975), Manulife’s Executive Vice President, Individual Wealth Management, who serve as role models for JMSB students because they did not only built successful careers but also gave back to their alma mater. Dr. Woodsworth also commended Manulife for “staying the course in these times of economic turbulence by continuing to invest in education.”

Kathy Assayag, Concordia Vice-President, Advancement and Alumni Relations, thanked Manulife representatives for their generosity and echoed Dr. Woodsworth’s sentiments about the gift’s timeliness.

“We can all appreciate how challenging these last few weeks have been for the entire financial service sector. It’s all the more meaningful to us in this time of economic uncertainty to have Manulife announce its gift,” said Assayag.

“When times get tough, things change and contributions to education get put off for a while. That is why it is so meaningful that this gift announcement is taking place today.”

Firth said that “education is a focus of Manulife’s charitable giving strategy” and that “we want to help educate a new generation of business leaders.” He credited Concordia for guiding him on the road to professional success. “[My university education at Concordia] served me well and it has made me proud. I had great teachers who took an interest in me as an individual and it helped me launch my career,” he said.

Firth has served on Concordia’s Board of Governors, as well as the Concordia University Alumni Association and Association of Alumni of Sir George Williams University.

JMSB Dean Sanjay Sharma said the business school is proud of the achievements of Firth and D’Alessandro and “gifts from corporations like Manulife are the lifeblood of the school.”

“This theme of academic and practical business excellence is, of course, the focus of today’s event as well. The young scholars at the John Molson School of Business are the kind of individuals who allow us to be confident about a bright future as business educators and as business leaders in Montreal,” he said.

Manulife Financial is the largest life insurance company in Canada, the second largest in North America and the fourth largest in the world based on market capitalization. In 2007, it boasted revenues of $4.3 billion.

Photo credit: Ryan Blau, PBL Photography