Trustees of The Stephen Harrow Smith Revocable Trust announced a $1.15 million gift to UALR to establish a dean’s endowment and seminar room for the College of Business that will honor the late Little Rock financier.
J. French Hill, chief executive officer of Delta Trust and a trustee of the Smith Trust, said the gift would establish the Stephen Harrow Smith Endowed Dean of Business and the Stephen Harrow Smith Seminar Room in the Donald W. Reynolds Center for Business and Economic Development Building, which houses the College of Business.
“The purpose of the Stephen Harrow Smith Endowed Dean of Business is to honor the memory of Stephen Harrow Smith, recognize his lifetime of exemplary business leadership, and his passionate belief in America and its free market economy,” Hill said.
The gift also will provide for the greatest need in the College of Business and may include student scholarship, internships, study abroad, career placement, and competitive support for gifted and talented students and faculty.
“Leadership is key to maintaining the UALR College of Business as a leader in business education and economic development,” said UALR Chancellor Joel E. Anderson.
“The trustees of the Stephen Harrow Smith Trust have helped to ensure the strength of our business programs by providing endowment resources for the business dean. We are grateful to the trustees of the Stephen Harrow Smith Trust for honoring Mr. Smith’s memory in this important way.”
The gift also will make possible several enhancements near the newly named Stephen Harrow Smith Seminar Room on the third floor the Donald W. Reynolds Center for Business and Economic Development.
Those include an interactive touch screen LCD video wall and full color 12-foot LED stock market ticker along with continued support for seminar room care and equipment.
“This gift marks a significant milestone for the College of Business and helps ensure that we will continue to make significant contributions to the growth and viability of our businesses, communities, and state,” said Dr. Anthony F. Chelte, dean of the College of Business.
“The Stephen Harrow Smith Endowment will provide the resources necessary to help achieve the college’s mission to provide high quality business education, serving as a catalyst for economic development across the state of Arkansas, and to continue to provide career-ready, well-prepared, and outstanding students for Arkansas’ business and broader communities.”
After graduating from the University of Pennsylvania’s Wharton School with a degree in economics, Smith returned to his hometown of Little Rock in 1933 and began pursuing his main interest, investments. He worked for three small investment companies until World War II broke out and he was stationed at Wilmington, Del., Air Base as administrative officer for the Ferrying Division of the Air Transport Command.
After the war, Smith returned to Little Rock and joined Walter R. Bass Investments until 1957. When Bass died, Smith bought the firm and operated it as Harrow Smith Co. until he retired in 1987.
Smith also served on the boards of the Visiting Nurses Association, the local Red Cross, the Metropolitan YMCA, and the Roselawn Memorial Park Cemetery Board.