its second endowed professorship in the School of Business.
BB&T Corporation of Winston-Salem, N.C., has now
pledged $1 million over 10 years to establish the endowments.
A separate gift of $50,000 will support programs on ethics in
business.
The BB&T Distinguished Endowed Professorship in the
Morality of Capitalism was announced at a luncheon honoring
the bank. The BB&T Distinguished Endowed Professorship in the
Philosophical Foundations of Free Enterprise was established in
2007.
The School of Business held forums in 2009 on business
ethics and the philosophical foundations of capitalism. A new
course, "Ethics in Capitalism," was launched in January 2010.
The event highlighted the historic and ongoing ties between
BB&T, the 10th largest U.S. bank holding company, and UNCP.
The guest speaker was BB&T employee Maggie Wojtowicz '09, a
current MBA candidate.
"When I look around me at the office, I see so many UNCP
graduates and students," Wojtowicz said. "I appreciate BB&T's
leadership in the community and for allowing students like me
to put theory into practice.
"BB&T plays a great role in the lives of students like me," she
said.
As a student, Wojtowicz worked part-time with BB&T and
has been promoted to supervisor as a full-time employee. She
said she has learned more than business on the job.
"As a student we learned the moral lessons of business,"
Wojtowicz said. "BB&T is an example of a mission-driven
business."
gift." He noted that BB&T's strong core principles are a beacon
of light amidst recent turmoil in the financial markets.
"The values that BB&T inculcates into its business
relationships are a model for our students," former Chancellor
Jenkins said. "When I teach a class in applied ethics in school
leadership, I often quote John Allison (former BB&T chief
executive officer).
"The number one crisis in our nation is not a financial one,
but one of ethics," he said.
Senior Vice President and Lumberton City Executive James
Gore echoed the bank's mission statement and praised UNCP's
role.
"At BB&T, we have a strong commitment to improving our
communities," Gore said. "Our mission has never wavered and
never changed.
"It is a distinct advantage to have a UNC university in our
community," he continued. "UNCP is a vital part of higher
education in the state and in the region, and a very important
part of the economy of this county."
As BB&T's CEO, Allison lectured at UNCP and earned a
wider reputation during the recent financial downturn for his
highly principled leadership.
Dr. Eric Dent was dean of the School of Business when the
first endowed professorship was established.
"Our School of Business has held up BB&T as a success
story," Dr. Dent said. "They have demonstrated good moral and
ethical business practices and have avoided the pitfalls that
befell so many other financial institutions.
"How will the next generation acquire these values when
many universities have not taken up the cause of moral and
ethical training?" he asked. "This gift will mold our students to
become better students, better employees and better citizens.
"John Allison was pleased with UNCP's activities thus far,
which built confidence that another donation to our campus
would be spent wisely," he concluded.
The gift will be made over 10 years and will be matched by
the North Carolina General Assembly's Distinguished Professors
Endowment Trust Fund. As an endowment, the gift will fund the
professorship perpetually.
BB&T Corporation and its subsidiaries offer full-service
commercial and retail banking and additional financial services
such as insurance, investments, retail brokerage, mortgage,
corporate finance, consumer finance, payment services,
international banking, leasing and trust.
BB&T operates more than 1,800 financial centers in 13 states
and Washington, D.C. With $165.3 billion in assets, it is the
nation's 10th largest financial holding company.
The bank has historic roots in Eastern North Carolina.
BB&T was founded in Wilson in 1872, and in 1995, it merged
with like-sized Southern National Corp., a bank founded in
Lumberton, N.C.