Paul Donnelly Paganucci
Encyclopedia
Paul Donnelly Paganucci (April 18, 1931 – February 26, 2001) was a prominent American
investment banker
, university educator, college financial administrator and businessman.
to Romeo J. and Martha (Donnelly) Paganucci.. After completing Waterville High School in 1949, he went on to graduate summa cum laude from Dartmouth College
(A.B.
, 1953), where he was elected to Phi Beta Kappa; he also received degrees from Dartmouth's Amos Tuck School of Business Administration
(M.B.A.
, 1954), and Harvard Law School
(J.D.
, 1957).
, where his close association with CEO J. Peter Grace
would remain an important fixture for the balance of his career. In 1961, he founded an investment banking firm with classmates from Dartmouth
; the firm was ultimately called Lombard, Vitalis, Paganucci and Nelson, Inc. (members, New York Stock Exchange
), of which Paganucci was president, treasurer and a director.
In 1972, Paganucci left Wall Street to become associate dean and professor of business administration at the Tuck School of Business
. He became chief financial officer and vice president and treasurer of Dartmouth
in 1975, while continuing to teach at Dartmouth's
Tuck School
; he remained an officer of Dartmouth
until 1986. During his tenure as CFO, Dartmouth's
endowment
tripled.
He returned to W. R. Grace and Company
in 1986 and served as executive vice president, vice chairman and ultimately, chairman of the executive committee and director. Initially, three executives — Paganucci, J.P. Bolduc and Terrence D. Daniels — had been appointed vice chairmen by then 77-year-old CEO J. Peter Grace
in a leadership competition. Bolduc ultimately won out and was designated as Grace's
successor, Paganucci having already relinquished the race; Paganucci became chair of the executive committee. (Bolduc was later terminated after allegations that he had engaged in misconduct with five female employees.) Paganucci remained an officer of Grace
until 1991.
In 1991, Paganucci helped found Ledyard National Bank (Hanover, New Hampshire
), and from inception chaired its board of directors.
In 1992, Paganucci received the Tuck Overseers' Medal for service, and he was awarded Tuck’s Distinguished Alumni Award in 1999. In 1993, Dartmouth
established the Paul D. Paganucci Chair of Italian Language and Literature in his honor.
Paganucci participated in a management institute at Colby College
in his hometown of Waterville, Maine
in 1975 and was then asked to join its board of trustees; he remained on the board for 26 years, the last 20 as chairman of the board's investment committee. He is credited with helping to grow the school's endowment
twelvefold during his term. In 1988, he established Colby's
Paul and Marilyn Paganucci Scholarship Fund to help graduates of high schools in central Maine attend the school. He and his wife also endowed Colby's
Paul D. and Marilyn Paganucci Chair in Italian Language
and Literature in 2000, which brought about the return of Italian
studies to Colby's
curriculum.
Paganucci served as a director of numerous corporations, including Ambase Corporation, State Mutual Securities, Inc., Filene's Basement
Corp., Urstadt Biddle Properties Inc., Grace Foundation, Inc. and Sherman Fairchild Foundation
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
investment banker
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
, university educator, college financial administrator and businessman.
Early life and education
Paganucci was born in Waterville, MaineWaterville, Maine
Waterville is a city in Kennebec County, Maine, United States, on the west bank of the Kennebec River. The population was 15,722 at the 2010 census. Home to Colby College and Thomas College, Waterville is the regional commercial, medical and cultural center....
to Romeo J. and Martha (Donnelly) Paganucci.. After completing Waterville High School in 1949, he went on to graduate summa cum laude from Dartmouth College
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
(A.B.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
, 1953), where he was elected to Phi Beta Kappa; he also received degrees from Dartmouth's Amos Tuck School of Business Administration
Tuck School of Business
The Amos Tuck School of Business Administration is the graduate business school of Dartmouth College in Hanover, New Hampshire, in the United States...
(M.B.A.
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
, 1954), and Harvard Law School
Harvard Law School
Harvard Law School is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, it is the oldest continually-operating law school in the United States and is home to the largest academic law library in the world. The school is routinely ranked by the U.S...
(J.D.
Juris Doctor
Juris Doctor is a professional doctorate and first professional graduate degree in law.The degree was first awarded by Harvard University in the United States in the late 19th century and was created as a modern version of the old European doctor of law degree Juris Doctor (see etymology and...
, 1957).
Career
After service in the United States Army, Paganucci worked briefly for W. R. Grace and CompanyW. R. Grace and Company
W. R. Grace and Company is a Columbia, Maryland, United States based chemical conglomerate.The company has two main divisions, Davison Chemicals and Performance Chemicals. The Davison unit makes chemical catalysts, refining catalysts, and silica-based products that let other companies make...
, where his close association with CEO J. Peter Grace
J. Peter Grace
Joseph Peter Grace was a multimillionaire American industrialist and conglomerateur of Irish Catholic heritage. He was president of the diversified chemical company, ' for 48 years, making him the longest reigning CEO of a public company.Born in Manhasset, New York, he succeeded his father, Joseph...
would remain an important fixture for the balance of his career. In 1961, he founded an investment banking firm with classmates from Dartmouth
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
; the firm was ultimately called Lombard, Vitalis, Paganucci and Nelson, Inc. (members, New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
), of which Paganucci was president, treasurer and a director.
In 1972, Paganucci left Wall Street to become associate dean and professor of business administration at the Tuck School of Business
Tuck School of Business
The Amos Tuck School of Business Administration is the graduate business school of Dartmouth College in Hanover, New Hampshire, in the United States...
. He became chief financial officer and vice president and treasurer of Dartmouth
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
in 1975, while continuing to teach at Dartmouth's
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
Tuck School
Tuck School of Business
The Amos Tuck School of Business Administration is the graduate business school of Dartmouth College in Hanover, New Hampshire, in the United States...
; he remained an officer of Dartmouth
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
until 1986. During his tenure as CFO, Dartmouth's
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
endowment
Financial endowment
A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust....
tripled.
He returned to W. R. Grace and Company
W. R. Grace and Company
W. R. Grace and Company is a Columbia, Maryland, United States based chemical conglomerate.The company has two main divisions, Davison Chemicals and Performance Chemicals. The Davison unit makes chemical catalysts, refining catalysts, and silica-based products that let other companies make...
in 1986 and served as executive vice president, vice chairman and ultimately, chairman of the executive committee and director. Initially, three executives — Paganucci, J.P. Bolduc and Terrence D. Daniels — had been appointed vice chairmen by then 77-year-old CEO J. Peter Grace
J. Peter Grace
Joseph Peter Grace was a multimillionaire American industrialist and conglomerateur of Irish Catholic heritage. He was president of the diversified chemical company, ' for 48 years, making him the longest reigning CEO of a public company.Born in Manhasset, New York, he succeeded his father, Joseph...
in a leadership competition. Bolduc ultimately won out and was designated as Grace's
J. Peter Grace
Joseph Peter Grace was a multimillionaire American industrialist and conglomerateur of Irish Catholic heritage. He was president of the diversified chemical company, ' for 48 years, making him the longest reigning CEO of a public company.Born in Manhasset, New York, he succeeded his father, Joseph...
successor, Paganucci having already relinquished the race; Paganucci became chair of the executive committee. (Bolduc was later terminated after allegations that he had engaged in misconduct with five female employees.) Paganucci remained an officer of Grace
W. R. Grace and Company
W. R. Grace and Company is a Columbia, Maryland, United States based chemical conglomerate.The company has two main divisions, Davison Chemicals and Performance Chemicals. The Davison unit makes chemical catalysts, refining catalysts, and silica-based products that let other companies make...
until 1991.
In 1991, Paganucci helped found Ledyard National Bank (Hanover, New Hampshire
Hanover, New Hampshire
Hanover is a town along the Connecticut River in Grafton County, New Hampshire, United States. The population was 11,260 at the 2010 census. CNN and Money magazine rated Hanover the sixth best place to live in America in 2011, and the second best in 2007....
), and from inception chaired its board of directors.
In 1992, Paganucci received the Tuck Overseers' Medal for service, and he was awarded Tuck’s Distinguished Alumni Award in 1999. In 1993, Dartmouth
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
established the Paul D. Paganucci Chair of Italian Language and Literature in his honor.
Paganucci participated in a management institute at Colby College
Colby College
Colby College is a private liberal arts college located on Mayflower Hill in Waterville, Maine. Founded in 1813, it is the 12th-oldest independent liberal arts college in the United States...
in his hometown of Waterville, Maine
Waterville, Maine
Waterville is a city in Kennebec County, Maine, United States, on the west bank of the Kennebec River. The population was 15,722 at the 2010 census. Home to Colby College and Thomas College, Waterville is the regional commercial, medical and cultural center....
in 1975 and was then asked to join its board of trustees; he remained on the board for 26 years, the last 20 as chairman of the board's investment committee. He is credited with helping to grow the school's endowment
Financial endowment
A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust....
twelvefold during his term. In 1988, he established Colby's
Colby College
Colby College is a private liberal arts college located on Mayflower Hill in Waterville, Maine. Founded in 1813, it is the 12th-oldest independent liberal arts college in the United States...
Paul and Marilyn Paganucci Scholarship Fund to help graduates of high schools in central Maine attend the school. He and his wife also endowed Colby's
Colby College
Colby College is a private liberal arts college located on Mayflower Hill in Waterville, Maine. Founded in 1813, it is the 12th-oldest independent liberal arts college in the United States...
Paul D. and Marilyn Paganucci Chair in Italian Language
Italian language
Italian is a Romance language spoken mainly in Europe: Italy, Switzerland, San Marino, Vatican City, by minorities in Malta, Monaco, Croatia, Slovenia, France, Libya, Eritrea, and Somalia, and by immigrant communities in the Americas and Australia...
and Literature in 2000, which brought about the return of Italian
Italian language
Italian is a Romance language spoken mainly in Europe: Italy, Switzerland, San Marino, Vatican City, by minorities in Malta, Monaco, Croatia, Slovenia, France, Libya, Eritrea, and Somalia, and by immigrant communities in the Americas and Australia...
studies to Colby's
Colby College
Colby College is a private liberal arts college located on Mayflower Hill in Waterville, Maine. Founded in 1813, it is the 12th-oldest independent liberal arts college in the United States...
curriculum.
Paganucci served as a director of numerous corporations, including Ambase Corporation, State Mutual Securities, Inc., Filene's Basement
Filene's Basement
Filene's Basement, also called The Basement, is a Massachusetts-based chain of department stores which was owned by Retail Ventures, Inc. until April 2009 when it was sold to Syms....
Corp., Urstadt Biddle Properties Inc., Grace Foundation, Inc. and Sherman Fairchild Foundation
Sherman Fairchild Foundation
The Sherman Fairchild Foundation, founded in 1955, is a charitable foundation of Sherman Mills Fairchild, founder and chairman of many Fairchild Corporations. Fairchild formed two charitable Foundations, the Fairchild Foundation and the Sherman Fairchild Foundation during his lifetime...
.