Rogers Give $4 Million Boost To Business Building

UNIVERSITY PARK, PA-Penn State alumni J. David and Patricia Rogers of Darien, Conn., have made a $4 million gift toward construction of the new Business Building at the University Park campus.

David Rogers is former managing director of equities trading at Goldman Sachs & Co. He left in 2001 to found J.D. Capital Management LLC, an investment firm located in Greenwich, Conn.

The Business Building will be the largest academic building on the campus and part of one of the largest business school complexes in the nation. The structure is projected to cost $60 million, which includes $35 million in University funds and $25 million in private support. The Smeal College of Business enrolls more than 6,000 students.

"New and upgraded facilities are one of Penn State's most critical needs, because they literally serve as the foundation of our efforts to provide the highest possible quality of education for future generations," said University President Graham B. Spanier. "We are very fortunate to be able to count on generous alumni like David and Tricia to help the University keep its place among the very best institutions in the nation."

David Rogers earned his bachelor's degree in accounting from Penn State in 1978 and an MBA in 1980. Patricia Rogers graduated from the University in 1979 with a degree in mechanical engineering. David Rogers started his career as a financial analyst at Mobil Oil. He later accepted a position as trader and analyst with Goldman Sachs, eventually becoming co-head of Goldman Sachs' equity derivatives department in 1992 and a partner in the firm. He left Goldman Sachs in 2001 to start his own investment firm. His brother, Stephen, a 1986 Penn State graduate in finance, also joined the firm. J.D. Capital Management is a private investment portfolio, structured as a limited partnership, open to accredited investors. The gift makes David and Patricia Rogers the largest individual donors to the Smeal College of Business thus far in the Grand Destiny campaign, the University's seven-year effort to raise $1.3 billion in private support, University-wide.

The Business Building gift is the Rogers' third to the campaign. Previously, they endowed a graduate fellowship for MBA students and gave $1.1 million to help establish the Smeal College Trading Room, a 1,520-square-foot facility which opened last spring and functions as a classroom as well as a research facility. The Trading Room gives students access to standard live Wall Street data and allows them to practice trading using simulated, real-time information.

According to Smeal College Dean Judy Olian, undergraduate classes for business students are spread across a half-dozen buildings around campus, and current facilities will have trouble keeping pace with rapid developments in technology as they affect business. "The Business Building will bring our students, faculty and programs together and mesh the physical space with new business models to create an entirely new and stimulating atmosphere for hands-on learning," she said. "David and Tricia's generous gift will bring The Smeal College a giant step closer to realizing our vision."

The Smeal College met an ambitious benchmark this spring, securing $15 million toward the $25 million goal for private fund raising. Completion and occupancy of the new facility is scheduled by the fall of 2005.

Editors: For assistance, contact Phillip Bolda, director of development for The Smeal College of Business, via e-mail at pxb36@psu.edu or phone at 814-863-0345.

Editors: Rajdeep Grewal can be contacted via e-mail at rug2@psu.edu or 814-863-0738.