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spring 2000  
 
Paganuccis Endows Chair in Italian
Another chapter iswritten in a long history of support
   
  Campaign for Colby tops $150 million
   
  Davis Electronic Research Classroom

By Stephen Collins '74

For a guy who never attended Colby, Paul Paganucci of Hanover, N.H., has been an incredibly loyal supporter of the College. A Waterville native and a Colby trustee since 1975, he and his wife, Marilyn, endowed scholarships to Colby for graduates of their high schools, Waterville and Deering in Portland respectively, in 1988. This January they announced the establishment of the Paul and Marilyn Paganucci Chair in Italian Language and Literature at Colby.

Colby Trustee Paul Paganucci

He explained his fondness for the College as the result of growing up in its shadow. "I guess it was having relatives who went there, growing up on Gilman Street with professors in every fourth or fifth house and going to school with their children, who set a fast pace in the Waterville schools. It's just always been part of my life," he said.

Paganucci called the decision to endow a faculty position in Italian "a bit ironic," insofar as, despite his surname, he developed a love for Italian culture only in recent decades. He is the grandson of four foreign-born grandparents, only one of them Italian.

Paganucci graduated from Waterville High School in 1949, then attended Dartmouth College. After earning an M.B.A. degree from the Amos Tuck School of Business and a J.D. degree from Harvard Law School, Paganucci had a distinguished career, or rather several distinguished careers, with W.R. Grace & Co. and as a founding partner in a Wall Street investment firm, as a professor, dean and vice president of finance at Dartmouth, and as founding chairman in 1991 of the Ledyard National Bank, headquartered in Hanover, N.H.

President Bill Cotter praised the Paganuccis' $1.2-million gift to establish the faculty position. "The College is reintroducing Italian, and the interest has been so great that classes are overenrolled, so the gift of the Paganucci chair comes at the perfect time," he said. A search is on to fill the position for the 2000-01 school year.

Paganucci has led the trustees' Investment Committee most of the 21 years that Cotter has presided at Colby. "Paul deserves much of the credit for the successful performance of the endowment and its diversification into new investment vehicles," Cotter said, citing a more than 12-fold increase in the endowment's value since 1979. "In addition, he has been the conscience of the board, emphasizing long-run priorities-growth of the endowment foremost among them." ?

 

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Colby Magazine, Spring 2000, vol 89 n 2
©2000 COLBY COLLEGE

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