Bringing the Best to Foster
Norman Metcalfe demonstrates his commitment to education by endowing professorship
Norman J. Metcalfe (BS 1965; MBA 1967) has consistently applied a simple but important credo in a 50-year career. Metcalfe applied his skills gained at Foster (then known as the UW Business School) MBA program to become a preeminent financial executive, including serving as CFO for several major companies. His maxim is, “When you make decisions, act like it’s your own money that you’re spending!”
Norman is a firm believer in the concept that everyone is the best steward of their own finances, and that same principle applies to the business world. Norman’s success has enabled him to retire from day-to-day operations of SunAmerica Investments and KB Homes, where he served as senior executive for over 20 years. He remains a major figure in the home building industry as Chairman of the Board of the Tejon Ranch Co. and chair of the Irvine Company.
Utilizing philanthropy to attract top talent
Today, Norman applies that same principle to philanthropy, including endowing the Norman J. Metcalfe Endowed Professorship in Finance at the Foster School of Business. He also generously gives students the opportunity to study abroad through his support of Foster’s Global Business Center.
But Norman isn’t just writing checks. True to his philosophy, he allocates his gifts to areas that have the most impact and align with his values.
“I wanted to help bring the highest quality faculty members to Foster,” he said. “We need to hire professors who will attract bright young people to the school.”
Norman knows firsthand the impact an outstanding professor can have on the lives of his students. He cites the late Professor William Sharpe as one of the most influential people in his life.
“He was a terrific teacher,” Norman said. “He had a magnetic personality. You always felt like you were learning when you were with him. And he was extremely entrepreneurial, which is a terrific set of skills for a young person to learn.”
The entrepreneurial spirit he honed in class proved to be a thorough line spanning Norman’s entire career. It motivated him to change industries in pursuit of companies that were moving faster and in which he could have a greater impact. Norman says that an entrepreneurial mindset is an asset at every business level.
“Act like an owner,” he said. “The strength of America is in our ability to innovate. Go where you can make a difference.”
Thriving at UW is a family tradition
Norman’s support of the Global Business Center was inspired by his children. His daughter Tracee, who completed her did her residency at UW Medical School, is a world-class mountain climber, having traversed the highest peaks across the globe. His younger daughter Jessica also attended UW. As an undergraduate, she proposed to her father that she take a trip to India led by Foster Professor Abhinav Gupta. Norman did some due diligence, including speaking to Professor Gupta, before giving the green light. The trip was a highlight of Jessica’s time at UW. It inspired Norman to support other students who want to gain valuable experience at destinations in Europe, Asia, and beyond.
“Education is essential,” Norman said. “Learning enriches lives. I come from pretty modest means, and UW helped me succeed. I want everyone to have that same opportunity.”
Learn more about the Global Business Center.
