Nation’s Only Center for Ethics In Financial Services Dedicated
By Connie Fontaine
The American College
BRYN MAWR, PA – September 27, 2012 – Earlier this week, The American College, the nation’s premier financial services educator, celebrated a generous gift of $2.5 million from Cary M. Maguire and his wife Ann with a lecture and a formal dedication ceremony inaugurating the Cary M. Maguire Center for Ethics in Financial Services.
“Enron, Worldcom, and Bernie Madoff are just some of the significant financial scandals that took place during the past decade. All of these incidents have their roots in individuals with a profound lack of professional ethics,” stated Larry Barton, Ph.D., CAP®, President and CEO of The American College.
“In an effort to help increase awareness of ethical issues and raise the level of ethical behavior in the financial services industry, The College created the only academic center in the country devoted exclusively to addressing financially-related moral dilemmas. By working to instill strong professional ethics in financial practitioners, the Center is helping to protect consumers,” continued Barton.
The Cary M. Maguire Center for Ethics in Financial Services strives to promote ethical behavior through program offerings that go beyond the "rules" of market conduct in an effort to help executives and financial professionals become more sensitive to ethical issues and think more critically about ethical solutions.
Participating in the dedication was Cary M. Maguire, Chairman and President of the Maguire Oil Company and Maguire Energy Company of Dallas, TX. Maguire was born in Bryn Mawr Hospital, less than a mile away from The American College’s campus. He and his wife Ann have a long history of philanthropy. In addition to the Center for Ethics at The American College, the couple also funded the Maguire Center in Ethics and American History at the Library of Congress in Washington, DC.
Maguire also supports a Fellowship in Applied Ethics at The American College. The fellowship is an academic research position dedicated to examining instances of disclosure in financial markets and how “meaningful disclosure” can be encouraged and promoted.
In addition to Maguire, individuals participating in the dedication ceremony included Dr. Larry Barton, CAP®, President and CEO of The American College, Julie Ragatz, Director of The Cary M. Maguire Center for Ethics in Financial Services, and James Mitchell, CLU®, ChFC®, retired Chairman of the IDS Life Insurance Company and Chairman of the Advisory Board for the Cary M. Maguire Center for Ethics in Financial Services at The American College.
Following the dedication, event attendees were treated to a lunch and lecture presentation by Anthony H. Catanach Jr., Ph.D., CPA, holder of the Cary M. Maguire Fellowship in Applied Ethics at The American College. He is also an Associate Professor at the Villanova University School of Business. Catanach spoke about ethical and accounting concerns associated with new initial public offerings made possible by recent legislation.
The American College is the nation’s largest non-profit educational institution devoted to financial services. Holding the highest level of academic accreditation, The College has served as a valued business partner to banks, brokerage firms, insurance companies and others for over 85 years. The American College’s faculty represents some of the financial services industry’s foremost thought leaders. For more information, visit TheAmericanCollege.