UNIVERSITY PARK, Pa. — The Penn State Smeal College of Business named Richard H. Bard the third recipient of the Robert W. Moore Lifetime Achievement Award at a ceremony held last month at Centre Hills Country Club in State College.
The award, named for longtime Smeal volunteer and philanthropist Bob Moore, was established in 2016. It is presented at the discretion of the dean to an individual who has achieved a high level of success in their career and has demonstrated unwavering support to the college through service and philanthropy, particularly through leadership positions on Smeal boards and committees.
Bard earned a bachelor’s degree in engineering from Penn State in 1969 and began his professional career designing waterways for Los Angeles. By the time he turned 24, Bard’s career had taken an unexpected turn, and he was “buying banks” with (former chairman and CEO) Walter Wriston at Citibank.
In 1990, he founded Bard Capital Group, a private equity investment company, where he has been involved in the acquisition and operation of a diverse group of private and publicly traded businesses and real estate holdings. Bard often takes an active role in operating the companies he invests in, as the chairman or chief executive officer.
“My brother and I came to Penn State in the mid-1960s, and our lives were changed forever,” Bard said. “We grew up with nothing but hardships, and our education gave us the license to go out and do what we wanted to do in the world. You can’t repay that.”
Yet, by volunteering his time and giving back philanthropically to Penn State, Bard has done his best over the years to thank the University for providing the right foundation for his success.
Charles H. Whiteman, John and Karen Arnold Dean of Smeal, said few people have done more than Bard to advance Smeal’s mission.
“Richard has had remarkable success as a businessman and entrepreneur, and we’ve been incredibly lucky to have his passion and advocacy at work for Smeal students, faculty and staff for the past three decades. His contributions to the Board of Visitors have been foundational to our success,” he said.