University welcomes $10 million gift, new graduate school

The University of Manitoba has received a transformational gift to the Front and Centre campaign that will enhance the I.H. Asper School of Business’ role as a leader in business education and research.

Stu Clark, an esteemed alumnus and entrepreneur, has donated $10 million to the I.H. Asper School of Business at University of Manitoba. In recognition of this gift, the university is establishing the Stu Clark Graduate School at the I.H. Asper School of Business.

“I believe very strongly in the vision and direction the Asper School and the University of Manitoba have taken towards sparking students’ entrepreneurial spirit,” said Stu Clark. “Supporting our future leaders, and bolstering their potential, is the best investment you can make.”

The announcement was made today by Paul Soubry, chair of the Front and Centre campaign at the luncheon Winnipeg: Great on Purpose hosted by the Winnipeg Chamber of Commerce.

“As a city, we have to keep raising the bar; to elevate; to transform,” said Soubry. “Our future is shaped by the quality of research, education and leaders that come out of this important institution and that in turn is influenced by donors like Stu Clark who generously support the work we do.”

Clark [B.Comm.(Hons.)/76, LLD/11] is one of Canada’s most prolific oil and gas entrepreneurs. In 1986 he worked as Chief Financial Officer at Pinnacle Resources and raised $2 million of shareholder capital along with his partners. They sold that company in 1998 for approximately $1 billion. Since then Stu has been involved in the start-up and re-organization of a number of Calgary-based public and private entities and currently sits as director and Chairman of the board of Storm Resources.

This latest gift elevates all graduate programs in the Asper School of business, supporting innovative graduate student research in emerging areas such as behavioural finance, and bolstering scholarships to unprecedented levels.

“We are honoured to have such a generous alumnus who continues to support new students across multiple programs.” said Gady Jacoby, dean, I.H. Asper School of Business. “His gifts provide students with opportunities to thrive. On behalf of the generations of students Stu has will impact, I give a heartfelt thanks.”

One of the U of M’s largest donors, Stu Clark’s lifetime support of the I.H. Asper School of Business totals $19.3 million, and this most recent investment moves the Front and Centre campaign closer to its $500 million goal. His generosity helped the U of M open the Stu Clark Centre for Entrepreneurship in 2008, and fund an endowed chair within it.

“Stu’s tremendous philanthropic support continues to make an indelible mark on our city, and on our university,” said David Barnard, president and vice-chancellor at the U of M. “On behalf of everyone in our community, I want to thank Stu for improving learning opportunities for students, and inspiring and supporting innovators and visionaries.”

UM Today Staff