Hances establish professorship in business

June 22, 2004 -- Beverly and James Hance have established a professorship in the John M. Olin School of Business, it was announced by Chancellor Mark S. Wrighton. The gift of $1.2 million will be combined with $300,000 from the University's Sesquicentennial Endowed Professorship Challenge to create the James and Beverly Hance Professorship in Business.

"Jim and Beverly Hance are two great alumni who, through their generosity and support, have contributed in many important ways to the University's ascent as a world-class teaching and research institution," Wrighton said. "We are very thankful for their continued interest and support."

"This professorship strengthens the academic and research endeavors at the Olin School of Business, and will be greatly appreciated by our faculty and students for generations to come," said Stuart I. Greenbaum, Bank of America professor and dean of the John M. Olin School of Business.

In addition to the professorship, the Hances made an earlier gift for two scholarships - one endowed - for the Olin School.

Since graduating from Washington University, Jim Hance has kept close ties with Washington University. "As National Chair for the regional campaigns for the Campaign for Washington University, Jim has attended over a dozen kickoff galas around the country and hosted the Annual Regional Leadership Conference with key volunteers. He has been a tremendous help to the University in this role. To date, the regional campaigns have raised over $270 million," explained Wrighton.

Jim Hance has had a distinguished career in the fields of banking and accounting. After receiving a master's degree in business administration in 1968, he joined Price Waterhouse as a certified public accountant. After 17 years in that position, he became chairman and co-owner of Consolidated Coin Caterers Corporation.

In 1987, he entered the banking business, joining NCNB Corporation as executive vice president and chief accounting officer. He quickly rose to chief financial officer and vice chairman, and played a significant role in growing it into Bank of America, one of the largest bank holding companies in the country. Today, he serves as a director and vice chairman of Bank of America Corporation, overseeing the areas of finance, treasury, investor relations, legal, and corporate strategy and planning.

"Jim is a leader in the banking industry and it is an honor to have his name associated with the Olin School of Business," Greenbaum noted.

Beverly and Jim Hance met as graduate students at Washington University and graduated the same year. She holds a bachelor's degree from the University of Maine and a master's degree in education. They have four daughters.

Jim Hance also provides leadership for the University as a member of its Board of Trustees, and is on Olin's National Council. In addition, he is a trustee of The College Fund/UNCF. Beverly Hance is a trustee of Davidson College in Davidson, NC.

The professorship may be awarded to a faculty member in the field of either finance or in accounting. Greenbaum will announce the first holder of the Beverly and James Hance Professorship in Business at a later date.