PROVIDENCE, R.I. (WPRI) — Providence College announced on Monday that it will receive a $5 million donation from a prominent alumnus for the Providence College School of Business (PCSB).
The gift, donated by Arthur F. Ryan and his wife Patricia, will be used to help construct the Arthur and Patricia Ryan Center for Business Studies, which will house the PCSB program. Dore Hall, a former residence hall, will be renovated and used as the center of the new structure.
“Arthur Ryan is one of the most successful businessmen who ever came out of PC,” College President Rev. Brian J. Shanley, O.P. said. “He learned that business is not just about making money, but also about giving back to the community. Art and Pat have been benefactors to countless projects, and it really was important to have this building named in their honor so that people will remember them.
Ryan served as the CEO of Prudential Financial, Inc. before retiring in 2008. He earned a bachelor’s degree in mathematics from the college.
“This gift represents an investment in the college that has meant so much to me,” Ryan said. “I look forward to the day – very soon – when our students and faculty will have access to a business facility that matches their collective intellect, passion, and commitment to the ideals of Providence College.”
The new center will include classrooms, conference rooms, computer labs, interview suites, a student cafe, and a glass atrium entrance.
School officials hope that the new building will act as a “learning environment” for students and teachers, but will provide a place of work for faculty and staff.
Sylvia Maxfield, Dean of PCSB, said that the building will provide “community space” and will “encourage faculty-student interaction.” The building will also house the Accountancy, Marketing, Finance, and Management departments, as well as administrative offices.
Father Shanley is hopeful that the Arthur and Patricia Ryan Center for Business Studies will provide students with the motivation they need to succeed.
“If you’re a student going to this new home for our School of Business every day, you’re going to know who Mr. Ryan is,” said Father Shanley. “We’re saying, in a subtle way, aspire high. You can become one of the top business people in the country.”