University Park, Pa. -- Penn State alumnus Gerald Kessler and his wife, Joyce Kessler, have committed $1 million to establish the Gerald P. and Joyce Kessler Graduate and Undergraduate Scholarships in the Smeal College of Business. The scholarships, which are already benefiting four Smeal students, are to be awarded annually to outstanding undergraduate and doctoral degree or master of business administration (MBA) students who are interested in the study of international business.
Gerald Kessler, a 1965 liberal arts graduate, spent 35 years with Morgan Stanley before becoming director of investments for the Kessler Group of Wachovia Securities in 2005.He said he shares Smeal Dean James B. Thomas' vision for making Smeal one of the top five public business schools in the country, and has chosen to support international business studies to help accomplish that goal.
"As the entire world grows more prosperous, corporate America needs to attract more top business school graduates who have a global view," Kessler said. "By encouraging global business studies at Smeal, I hope to help make the college a leader in generating graduates who have an international perspective and can keep the American economy among the most vibrant in the world."
In addition to a minor in international business, the Smeal College currently offers undergraduate students more than 140 study abroad programs in 49 different countries. About 400 Smeal undergraduates spend a semester overseas each year.
Additionally, all Smeal MBA and Executive MBA students spend a week in a pivotal international business location in the college's Global Immersion Program. The program offers students firsthand exposure to the international economy and the particular challenges and opportunities of doing business in another culture and under different laws and regulations. According to Thomas, Smeal is one of the few public colleges nationwide that require their students to travel abroad as part of their MBA programs.
"In today's global economy, it's absolutely vital that business students gain a global perspective in college, and I'm tremendously grateful that Jerry and Joyce recognize this and have chosen to support our international efforts at Smeal," said Thomas. "The Kesslers have a long history of supporting Penn State and Smeal, and by strengthening our international programs, they're helping support yet another key component in our goal of becoming one of the top business schools in the country."
First-year MBA student Jeremy Reeh is one of the recipients of the Kessler Graduate Scholarship. Reeh holds a bachelor's degree in turfgrass science from Penn State and a master's degree in biotechnology from the University of Pennsylvania. For his MBA, Reeh is focusing on entrepreneurship and finance with the ultimate career goal of managing new ventures in the life sciences aimed at fighting the world's most dire human disease problems. He said he aims to use his MBA to make an international impact.
"I am honored to be the recipient of such a generous scholarship from such a distinguished alumnus of Penn State," Reeh said. "By combining a business and science education, I hope to help give novel scientific ideas the economic momentum needed to bring them to market so they can have a real impact on the world's population and economy."
In addition to this most recent endowment, Gerald Kessler's gifts to the University have created the Kessler Program Endowment Learning Center and the Gerald P. Kessler Endowment for Research at Penn State Abington. He also is a member of the Golden Lion Society, recognizing that he has made a gift to Penn State every year since his graduation.
Since its inception in 1953, more than 64,000 students have graduated from Penn State's Smeal College of Business. With a current enrollment of about 6,000 students in its undergraduate and graduate programs combined, Smeal is one of the largest business schools in the world.