Introducing the Baldwin Wallace University Carmel Boyer School of Business
Shawn Salamone
01 May 2022
The
name,
announced
on
April
29,
honors
the
extraordinary
examples
of
Willard
"Bill"
Carmel
'52
and
George
Boyer
'51,
who
shared
a
devotion
to
the
success
of
generations
of
BW
students.
In
business
and
in
life,
Baldwin
Wallace
University
graduates
Willard
"Bill"
Carmel
'52
and
George
Boyer
'51
found
the
freedom
to
soar.
"These
two
distinguished
alumni
led
parallel
and
intersecting
lives
of
great
purpose
-
building
a
legacy
of
exceptional
career
achievement,
deep
personal
fulfillment
and
enduring
community
impact,"
said
BW
President
Bob
Helmer.
Now,
both
men
are
honored
in
the
new
name
for
BW's
business
school:
the
Baldwin
Wallace
University
Carmel
Boyer
School
of
Business,
unveiled
at
a
celebration
on
Friday,
April
29.
The
name
celebrates
a
shared
devotion
to
the
success
of
generations
of
BW
students
that
remained
rock
solid
even
as
thriving
finance
careers
anchored
one
in
Northeast
Ohio
and
took
the
other
to
New
York
City.
From
curious
students
to
titans
of
finance
Friends
for
70
years,
Carmel
and
Boyer
connected
while
studying
business
at
Baldwin
Wallace
in
the
late
1940s
and
early
'50s.
Both
pride
themselves
on
being
students
of
legendary
BW
business
professor
Jacob
O.
Kamm
'40
and
attribute
the
seeds
of
their
career
success
to
his
influence.
It
is
fitting
that
the
Carmel
Boyer
School
of
Business
is
housed
in
BW's
Kamm
Hall,
which
bears
their
college
mentor's
name.
"Jake
was
responsible
for
so
many
of
us
who
found
success
in
financial
services,"
Boyer
shared.
"He
stimulated
our
minds.
We
had
an
investment
club,
and
he
instilled
in
us
the
idea
of
careful
research
and
patience
in
investing."
Carmel
called
Kamm
"inspiring,"
and
both
men
recalled
their
professor
taking
them
to
visit
C-suites
around
the
region.
"We
would
get
all
dressed
up,
tuck
our
Wall
Street
Journals
under
our
arms
and
go
downtown,"
Carmel
remembers.
Carmel
and
Boyer
both
went
on
from
college
to
achieve
extraordinary
business
success
in
their
careers.
Carmel
rose
to
be
CEO
of
the
Cleveland-based
investment
company
McDonald
&
Company
Securities;
Boyer
was
a
partner
in
the
Wall
Street
firm
Goldman
Sachs.
Exemplary
service,
powerful
leadership
But
it
was
their
roles
as
trustees
of
their
alma
mater
that
made
them
men
of
consequence
in
the
history
of
BW.
"With
nearly
100
years
of
combined
service
on
the
BW
Board
of
Trustees,
Bill
and
George
paid
their
success
forward
to
generations
of
BW
students
who
came
after
them,
giving
time,
talent
and
treasure
to
BW,"
notes
BW
Board
Chair
Agnes
Dover.
"Their
impact
is
extraordinary."
"As
business
leaders
and
trustees,
both
commanded
respect,"
said
Pat
Dunlavy
'71,
who
served
as
a
trustee
before
taking
on
the
role
of
VP
for
Philanthropy.
"When
they
spoke,
all
trustees
listened
closely.
Many
of
us
who
served
with
them
consider
both
men
to
be
mentors
and
friends."
Carmel
chaired
the
BW
Trustees
for
five
years
and
led
three
capital
campaigns.
Former
BW
President
Neal
Malicky
wrote
in
his
memoir
that
Carmel
was
a
partner
in
BW's
rebound
from
a
financial
slump
during
his
time
as
president.
Malicky
also
approached
Boyer
about
serving
as
board
chair,
but
Boyer
suggested
his
talents
would
best
be
leveraged
as
chair
of
the
Investment
Committee
instead.
Building
long-term
BW
benefits
And
so,
Boyer
(and
Carmel,
too)
spent
years
providing
leadership
for
the
management
of
BW's
endowment,
each
applying
their
specialized
financial
acumen
-
Boyer
on
the
equity
side
of
the
fund,
Carmel
on
the
fixed
income
side.
"They
shouldered
that
significant
burden
of
managing
and
growing
the
endowment
for
free,
saving
the
University
significant
sums
in
investment
fees,"
said
Dick
Fletcher
'70,
MBA
'76,
a
recently
retired
longtime
senior
officer
of
BW.
"George
used
to
say
the
first
thing
he
did
in
the
morning
was
check
the
value
of
the
BW
portfolio."
Such
savvy
and
dedicated
stewardship
helped
the
endowment
grow
by
leaps
and
bounds.
In
fact,
BW's
investment
return
was
in
the
top
five
percent
of
all
colleges
and
universities
in
the
nation
for
a
number
of
years.
Malicky
recalled,
"The
leadership
of
George
Boyer,
Bill
Carmel
and
other
members
of
the
Investment
Committee
was
absolutely
essential
to
such
growth.
It
did
and
will
bring
long-term
benefit
to
Baldwin
Wallace."
Today,
BW's
endowment
is
a
vital
source
of
institutional
stability
and
scholarship
support
for
students.
Mentorship
matters
Mentorship
was
another
key
value
for
each
man
as
they
developed,
motivated
and
challenged
young
business
talent
the
way
they
were
taught
and
mentored
as
promising
young
BW
business
students.
Carmel
often
recruited
talent
from
BW
and
found
his
eventual
successor
in
a
20-year-old
BW
intern
he
hired:
Bill
Summers
'72.
"Bill
[Carmel]
became
my
mentor,
coach
and
advocate,"
Summers
recalls.
"He
was
the
equivalent
of
my
business
'father,'
and
when
my
dad
died
in
1989,
he
became
like
an
actual
father
to
me."
Mentorship
matters.
Following
Carmel's
retirement,
Summers
was
elevated
to
president
of
McDonald
&
Company
and
quickly
added
the
title
of
CEO.
Advice
for
student
success
Looking
back,
both
Carmel
and
Boyer
considered
the
range
of
values
that
undergirded
their
fulfilling
careers
and
lives.
Carmel
believes
managers
must
remember
that
business
is
people-powered.
"When
people
get
into
positions
of
power,
I
don't
think
you
can
be
successful
unless
you
really
like
people.
If
you're
going
to
be
in
any
management
position,
you
have
to
like
people
and
treat
them
the
way
you
would
want
to
be
treated."
He
also
urges
students
today
to
"work
hard
and
love
what
you
do."
"Everybody
is
born
with
their
own
specific
talents
and
advantages.
You
just
have
to
find
what
you're
good
at.
Find
the
right
job
and
fall
in
love
with
what
you
do.
From
day
one,
I
woke
up
ready
and
eager
to
get
to
work."
Boyer's
advice
to
future
business
students,
dispensed
in
a
separate
conversation,
mirrors
his
longtime
friend's.
"Work
hard,
be
charitable
and
have
civility."
Boyer
adds,
"It's
also
important
in
life
to
be
charitable
and
honorable.
Like
that
line
at
the
end
of
the
movie
'Saving
Private
Ryan'
says,
'Be
a
good
person.'"
Representing
the
best
of
business
"Future
BW
business
students
should
know
that
their
school
is
named
for
two
of
the
finest
businesspeople
in
investment
banking,
and
they
did
it
with
class
and
dignity,"
Summers
notes.
"There
could
not
be
more
loyal,
devoted,
successful,
classy,
generous
and
kind
businesspeople
that
ever
walked
the
halls
of
BW,"
Summers
concludes.
"How
talented
they
were,
yet
humble;
confident,
hard-working
and
demanding,
but
fair
and
kind;
generous
but
not
boastful.
There
are
no
finer
men
in
every
respect
than
these
two."
Carmel
and
Boyer
embody
what
it
means
to
be
a
"success:"
pursuing
their
dreams
with
integrity,
purpose
and
drive
and
finding
the
freedom
to
soar
-
in
business
and
in
life.
Watch
the
video
below,
narrated
by
Bill
Summers
'72,
to
trace
the
intersecting
lives,
careers
and
impact
on
BW's
School
of
Business
by
Jacob
O.
Kamm,
Bill
Carmel
and
George
Boyer.
College Education Health SciencesHomepageSchool of BusinessConservatory of MusicSchool of Science and EngineeringStudent ExperienceSchool of Health SciencesSchool of EducationSuccess Feed
"These
two
distinguished
alumni
led
parallel
and
intersecting
lives
of
great
purpose
-
building
a
legacy
of
exceptional
career
achievement,
deep
personal
fulfillment
and
enduring
community
impact,"
said
BW
President
Bob
Helmer.
Carmel
chaired
the
BW
Trustees
for
five
years
and
led
three
capital
campaigns.
Former
BW
President
Neal
Malicky
wrote
in
his
memoir
that
Carmel
was
a
partner
in
BW's
rebound
from
a
financial
slump
during
his
time
as
president.
