Pat Morden | May 24, 2023
The history of the Ivey Business School is entwined with the lives of three Richard Iveys. Each Richard and his family have made substantial financial contributions. More importantly, each offered wise counsel, setting a high bar for academic excellence and business impact.
The first Richard, Richard Green, was a lawyer and businessperson in London, Ontario. He became interested in business education in the mid-1940s, while his son, Richard Macaulay, was studying at Western. In March 1948, he helped to bring together some 100 Canadian business leaders to discuss the need for a national business school. Their vision was realized in 1950 with the creation of the Western School of Business Administration. Richard G. and the Ivey Foundation helped fund a building, which was named to honor him.
Meanwhile, Richard M. graduated from Osgoode Law School, joined the family firm, and became involved in several family businesses. Like his father, he took a special interest in the School, making generous contributions to building projects, case writing, and research over his lifetime.
Among his many contributions, Richard M. supported the School’s move toward globalization, and in particular, its expansion to Asia. When the Cheng Yu Tung Management Institute was officially opened in Hong Kong in 1998, he and his wife Beryl attended, and then held a party in London for staff members who hadn’t been able to go.
Richard M. served on the Ivey Advisory Board for many years. He maintained close relationships with each of the School’s deans, who counted on him for advice and connections. In his will he left another substantial donation, used to create a matching program to build an endowment fund for the School.
“The School is the most prominent thing named after us, so we feel deeply committed to its future. It’s a great business school and alumni go on to do great things. The pride has grown as the School’s reputation has grown.”
- Richard W. Ivey, HBA ’72, LLD ’13
Richard William graduated from Ivey in 1972, completed his law degree at the University of Toronto in 1975, and spent six years with a large Toronto law firm before returning to London. As his father gradually retired, he took over various senior family business roles. Now Chairman of Ivest Properties Ltd., he has served on the Ivey Advisory Board since 1993.
Richard W. played a key role in several strategic decisions, including the rebranding as Richard Ivey School of Business in 1995 and again in 2012 when the decision was made to change the name to the Ivey Business School. “The School is the most prominent thing named after us, so we feel deeply committed to its future,” he once said. “It’s a great business school and alumni go on to do great things. The pride has grown as the School’s reputation has grown.” Among ongoing involvements, he has selected and, with the family, purchased the contemporary Canadian art displayed throughout the building.
The women in the family have also been deeply involved. Beryl, Richard M.’s wife, was a valued partner in all of his philanthropy. Their daughter Rosamond, who graduated from Ivey in 1982, has worked in the investment management business throughout her career and has Chaired the Ivey Foundation for 25 years. The Foundation and Rosamond personally have also provided substantial financial support over the years. Her sisters, Suzanne Ivey Cook and Jennifer Ivey Bannock, also serve on the Foundation board.
By now, the Ivey family’s total financial commitment to the Business School has reached more than $32 million. But the impact of the family has been greater still. “When I look back at the School’s history, it is clear that at pivotal moments the Iveys were always ready with a ladder of support,” said former Dean Carol Stephenson. “The Ivey family embodies the Business School’s mission – or perhaps the truth is that it is the Ivey Business School that embodies the mission of its founding family.”
“When I look back at the School’s history, it is clear that at pivotal moments the Iveys were always ready with a ladder of support. The Ivey family embodies the Business School’s mission – or perhaps the truth is that it is the Ivey Business School that embodies the mission of its founding family.”
- Former Ivey dean Carol Stephenson
More than a Name is part of an ongoing series of stories to honour our School’s history and commemorate Ivey’s 100th anniversary. This article originally appeared in the Centennial Edition of Ivey’s alumni magazine, Intouch.
Richard G. Ivey, Q.C., (1891-1974), was a lawyer, businessman, and philanthropist. He became the first Chair of the Advisory Committee.
Richard G. Ivey leads an effort that funds the building of the School of Business Administration Building on campus. The building opens and honours his leadership by carrying his name.
The Ivey Foundation and the Richard and Jean Ivey Fund gift the School with a grant that supports graduate fellowships and the purchase of computer equipment.
Richard M. Ivey is elected Chancellor of the University, a position he holds until 1984, serving as the honourary and symbolic head of the university.
The School was rebranded the Richard Ivey School of Business in recognition of the Ivey family’s longstanding financial support.
The Ivey Campaign publicly launches with a target of $75 million – the largest campaign by a single faculty in Canadian history.
The Richard and Jean Ivey Fund donates a total of $1,250,000 to the second campus in Hong Kong, which enables the School to hire Asian case writers.
The Richard Ivey Building opens and the School celebrates 90 years as Canada’s premiere business education leader.