
One of the most highly anticipated spaces in the Smith
School’s new North Wing is the section that will be used by
the doctoral program. The Dr. and Mrs. William A. Longbrake
PhD Suite and the Longbrake PhD program director’s office
are named for William Longbrake, PhD ’76, vice chair of
Washington Mutual, the nation’s sixth largest bank.
The Longbrake PhD Suite will house the Smith School’s 121
PhD students, who conduct research and often teach classes
in addition to completing the coursework toward their
degrees.
Longbrake came to the University of Maryland to pursue
his graduate degree in business—then a DBA, not a PhD— the
business school’s doctoral students were located in the
attic of the journalism building. It was a crowded
environment, but “at least we had a desk and a place to meet
with undergraduates,” remembers Longbrake.
While most doctoral students go on to life as a professor
somewhere, Longbrake’s career took him out of academia and
into the business world. He started out as a financial
economist with the FDIC, doing policy studies that supported
the agency’s mission. “We had a fair amount of freedom to
pursue research in the areas of banking and finance,” says
Longbrake. “I published a lot and learned the policy side of
things.” He went on to become Deputy Controller of the
Currency, the top executive spot not filled by a political
appointee, where he developed policy and interacted with
members of the legislature on Capitol Hill.
When he decided to make a change in 1982, he took on a
real challenge: the position of CFO of Washington Mutual
Bank, which was in serious financial trouble and in danger
of complete collapse. Longbrake played an important role in
the organization’s turnaround.
During all this time, Longbrake had lost touch with the
university, but he was pleased to be contacted by Joanne
Ferchland-Parella, assistant dean of external relations, who
was interested in reconnecting Longbrake with faculty and
students at the school. The involvement grew over the past
three years, as Longbrake partnered with Smith faculty on
research and spoke to Smith students at graduation. It
culminated with his naming gift for the Longbrake PhD Suite.
“When I give a gift to an organization, it’s because I
have a connection,” says Longbrake. “It’s more than just the
fact that I went to the school, it’s an alive and current
connection. I am not just putting my name on a building; I
am building a relationship. I look forward to having
interactions with the school on an ongoing basis.”
The Longbrake PhD Suite was an exciting project for
Longbrake, not just because of his own association with the
PhD program but also because he knew that he could really
bring a unique benefit to the school. “My original degree
was intended to be a teaching degree,” says Longbrake. “I
didn’t end up teaching, but it served me extraordinarily
well in my career. I feel it is important to connect the
academic side of the business school with real-time business
and have that engagement and interaction. It is exciting to
engage with faculty and students in their research, to share
the knowledge I’ve accrued over the years in the rough and
tumble world of business.”
Longbrake is excited about the Smith School’s future
direction. “My sense is that the vision is well-crafted, and
that the projects and initiatives that are underway are well
thought through to achieve that vision. I think the school
has the right vision and is on the right track to achieve
it. And I know that the capital campaign is a key part of
creating the financial resources to make these things
happen.”
As co-chair of the Smith School’s Great Expectations, the
Campaign for Maryland, Longbrake wants to encourage fellow
alumni to get enthusiastic about the school’s vision as
well.
“I have a real personal commitment to what the school is
trying to achieve, and I think it is important for everyone
to give back according to their means and capabilities,”
says Longbrake. “We’re supporting the difference the school
made in our lives and will make in the lives of current
students. Alumni can also be engaged by being knowledgeable
about what the school is trying to accomplish, encouraging
people of quality to undertake their education at the
school, and participating in seminars and events that are
put on.” |