A retired Canisius College finance professor has committed more than $1.4 million to the college, school officials announced Tuesday.
The gift from Nelson D. Civello, a 1967 graduate of Canisius, will provide resources for the college's Financial Markets Lab, which will be dedicated in Civello's honor Thursday on the second floor of Old Main.
It also will fund scholarships for Canisius finance students.
In 2003, he developed the college's Golden Griffin Fund, an investment-management course that gives undergraduates an opportunity to hone their financial skills by managing an actual investment fund.
The two-semester finance course is taught in the Financial Markets Lab, which includes computer workstations, television monitors, a data wall and ticker, a data-projection screen and a Bloomberg terminal.
"The success of [Golden Griffin Fund] after five years convinced me of the need to establish an institutional permanence to the program," he said in a prepared statement. "It made good sense to direct my campaign gift for a purpose in which I strongly believe."
Civello started his banking career in Buffalo at Marine Midland Bank in 1969. Prior to coming to Canisius in 2001 as a visiting professor in the economics-finance department, he spent more than a decade as president of the Fixed Income Capital Markets Group of Dain Rauscher Inc., a full-service brokerage and investment-banking firm based in Minneapolis.
He and his wife, Patti, now live in Jupiter, Fla., and spend summers in Williamsville.