Northwestern University alumni Herbert and Anne Gullquist have made a $5.25 million commitment to the school.

The gift will provide critical support to the economics department in Northwestern’s Judd A. and Marjorie Weinberg College of Arts and Sciences.

The University will honor their gift by naming the Lakeside Student Faculty Collaboration Space, within a new facility on the Evanston campus, after the Gullquists. The facility will house the economics department and Northwestern’s Kellogg School of Management.

“Anne and I are extremely pleased to support Northwestern and contribute to the growth of the economics department, which has become one of the most preeminent departments in the country,” Herbert Gullquist said.

“We believe the new lakeside facility and the department’s close proximity to the Kellogg School of Management uniquely positions Northwestern to address business enterprise topics crucial in today’s marketplace,” he added.

The university broke ground for the new building last month.

As part of a comprehensive strategy to advance business and economics education and thought leadership for the 21st century, the new facility will serve as the headquarters for both the Weinberg College Department of Economics and the Kellogg School of Management.

By housing both areas, the facility will bring together faculty and a breadth of new ideas to create a unique, multidisciplinary model among top-tier universities. With the economics department headquartered in this new building, the University will ensure an active relationship between its economics faculty and students and Kellogg for years to come.

“As a professor in the economics department, I am especially grateful for Herb and Anne’s generosity and belief in Northwestern,” said Northwestern President Morton Schapiro. “The new Lakeside Student Faculty Collaboration Space, which will soon bear their name, will be instrumental in providing an extraordinary learning environment for our students.”

Designed by KPMB Architects, one of North America’s premier firms, the planned 410,000-square-foot facility will be the global hub of the Kellogg School of Management and will offer a flexible learning environment to facilitate cross-disciplinary teaching and research, setting the standard for collaborative, in-person learning.

The Department of Economics and the new Lakeside Student Faculty Collaboration Space will occupy most of the five-story facility’s third floor.

“Maintaining and invigorating the synergy between our economics department and the Kellogg School is essential to magnifying the University’s leadership position and its focus on the economic challenges that will impact society’s future,” said Weinberg College Dean Sarah Mangelsdorf. “I am so appreciative of the Gullquists’ commitment to this collaborative endeavor.”

Herbert Gullquist received his bachelor’s degree from Northwestern in 1959. He became an Alumni Trustee in 2003 and a Life Trustee in 2007.

He made his first gift to Northwestern, a $25 annual fund donation, in 1982. He is a former member of Northwestern’s Ron Burton Center Committee, the Northwestern Alumni Association board and the investments committee of the University’s Board of Trustees. 

Gullquist has had a long and successful career in finance and investment banking. Currently, he serves as senior advisor for Lazard Asset Management, a unit he co-founded in 1982.

Lazard is one of the world’s leading independent financial advisory and asset management firms serving governments, financial institutions, public and private retirement plans and individuals. Lazard itself was founded in 1848 and operates in 40 cities across 26 countries.

Anne Gullquist received her bachelor’s degree from Northwestern’s College of Arts and Sciences, now Weinberg College, in 1959. She has served as a member of the Northwestern University Women’s Board since 2003. Also, in 2009, she and Herbert volunteered together as co-chairs for their 50th Reunion Committee.

Over the past 30 years, Herbert and Anne Gullquist have made significant gifts to Northwestern. In addition to their most recent gift, they have provided support for the Northwestern Annual Fund, the department of athletics and recreation, University Library and the Bienen School of Music.

The couple’s granddaughter, Allison, received her bachelor’s degree from Weinberg College last spring.

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