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Development Update


After 50 Years, Alum Rekindles Ties With Gabelli School Scholarship

Richard Hayes (Gabelli ’51) didn’t have much time for socializing as an undergraduate in the Gabelli School of Business. He commuted to Fordham from his home in Great Neck, N.Y., and worked full time to pay his way through school.

It wasn’t until Hayes’ 50th Jubilee in 2001 that he reconnected with many of his classmates and friends with whom he had lost touch throughout the years and began to examine the significance of his Fordham education.

“Fordham played a very formative role in my life,” said Hayes. “I always felt that I was very fortunate, and I realized that it’s time to start giving back.”

These feelings inspired Hayes to establish the Richard R. Hayes Endowed Scholarship Fund. This $250,000 pledge, which began with a $50,000 gift, will provide financial support to full- or part-time Fordham Gabelli School of Business students based on academic merit and financial need. Preference will be given to those whose parents served in the armed forces.

Shortly after graduating from Fordham, Hayes joined the Marine Corps and served in the Korean War. He credits Fordham and the Marine Corps for providing him with a sense of pride, patriotism, integrity and a love of God.

“The Jesuits and the Marine Corps really changed me into a different man,” said Hayes. “In my career, I was known to be a very honest guy and I think Fordham instilled that in me. Honesty carries a lot of weight in the financial market.”

Hayes’ success in the financial arena spans more than four decades. He started his career as a trainee at Merrill Lynch and later moved to Dean Witter Reynolds, ultimately becoming an executive vice president and director of the company. Currently, Hayes is a director at William D. Witter, Inc.

The Hayes family looks forward to meeting the first Richard R. Hayes scholar in 2005. The scholarship will be renewable each year, as long as the recipient continues to meet the required academic criteria.

— Andrea Marais

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