A Newsletter for Friends and Alumni of the University of Washington
A Word from President Emmert: An enduring legacy

We are very proud to have the name of Michael G. Foster linked in perpetuity to our great business school. The commitment of the Foster family and its foundation to our business school is peerless. Indeed, it is the greatest commitment in the school's history.

Albert, Evelyn and Michael Foster shared a strong belief in giving back to the community, which resulted in broadened opportunities for our students, our faculty and our university. Over the past 25 years, support from the Foster Foundation has helped our students to excel and helped our business school rise in the ranks of the nation’s business education programs.

The Foster Foundation's most recent commitment will flag our business school as one of the premier business schools in the country. It will give us the resources to realize our vision of recruiting the best students and faculty, launching innovative programs, and providing a world-class facility for our business students and faculty.

We have very simple goals and aspirations for our business school. We want to be the best public business school in the United States. The remarkable support of the Foster Foundation provides us an opportunity to do just that.

Mark A. Emmert (’75)
President

Cover Story: Fostering excellence at the business school

Studio/216 rendering of the new home of the Michael G. Foster School of Business.

The University's business school took a giant step toward realizing its aspirations for the future with a recent naming gift that pays tribute to a successful Northwest businessman who gave generously to his community and his alma mater.

UW President Mark emmert announced at the September 2007 Foundation Board meeting that the university would rename its business school the Michael G. Foster School of Business in recognition of a 25-year history of support from the Foster Foundation.

Dean Jim Jiambalvo, speaking before the UW Foundation Board, said a recent major pledge from the Foster Foundation — the largest in the school's 90-year history — will propel the school among the nation's elite business education programs. “This commitment comes at a time when we can use it to transform the kind of education we provide our students and make sure they get the best education possible,” he said. “It's not just a gift that's going to get us off the ground; it's a gift that's going to move us from excellent to outstanding.”

Michael G. Foster

The Foster Foundation’s latest commitment will enable the school to launch new programs and provide additional support for students and faculty. “We're going to set aside funds for scholarship support for outstanding students coming to the UW,” Jiambalvo said. “We’re going to increase the number of endowed chairs so we can attract and retain the best scholars and the best teachers in America. We're also going to set aside money for continuing innovation.” On that front, the school is planning to establish a new center for leadership development and research. “I believe that leadership training is going to be a defining characteristic of the Foster School,” Jiambalvo said. “I'm really eager to get going on an initiative related to leadership.”

The Foster Foundation was formed in 1984 by Albert O. Foster (’28), a business school alumnus who founded the investment firm of Foster & Marshall, Seattle's first locally-owned brokerage to own a seat on the New York Stock Exchange; his wife, Evelyn (’32), a noted community volunteer; and their son, Michael, a Northwest businessman who began his career in the New York bond business before returning to Seattle to lead Foster & Marshall to unprecedented success.

Since 1984, the Foster Foundation has created the A.O. Foster Endowed Fellowship Fund and the Michael G. Foster Endowment at the school and made a leadership contribution toward construction of a new library, which was named the Foster Business Library in honor of Albert and Evelyn.

Dean Jim Jiambalvo at the dedication ceremony for the Michael G. Foster School of Business.

The Foster Foundation contributed a leadership gift toward a new business school facility, due to break ground next summer.

“We are grateful to the Foster Foundation for making a historic gift, and for letting us link the UW Business School to Michael G. Foster, an outstanding local business leader who gave generously to his family, his friends and the community. When the Foster School of Business celebrates its 100th anniversary in 2017, I'm confident that we are going to be regarded as one of the premier business schools in the nation and the world,” Jiambalvo said.

For more about the Michael G. Foster School of Business, visit http://foster.washington.edu.

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