Evans Lam ’83, ’84S (MBA) establishes scholarship challenge at the Simon Business School
Rochester, NY–University of Rochester Board of Trustees member Evans Lam ’83, ’84S (MBA) recently established a $500,000 scholarship challenge at the Simon Business School. The Evans Lam Opportunity Scholarship Challenge is designed to encourage others to create new, endowed scholarships. Lam also contributed $100,000 to an unrestricted scholarship fund to be put to use immediately.
“Evans always leads by example, consistently champions the potential in people, and ardently works toward making the world a better place for all,” says Simon Business School Dean Sevin Yeltekin. “Meeting the financial needs of talented students would not be possible without this type of generosity.”
“By establishing this scholarship challenge, we are hopeful others will step up and join us,” says Lam. “This is about the Simon community coming together to help our most talented and diverse students from all over the world as they pursue their business education and career goals.”
Supporting students is a key component of the University’s yearlong Together for Rochester campaign. Designed to make life better for the University community following the COVID-19 outbreak, the campaign’s goal is to raise $100 million in the 2020-21 fiscal year to fund several priorities: scholarships and financial aid, diversity initiatives, faculty recruitment, clinical and academic research, career opportunities and internships, and more.
For each new endowed scholarship that qualifies, the Lam Challenge will add additional funding to the contributed value of that unique scholarship. For example, if a donor establishes an initial $100,000 scholarship, the Lam Challenge will add $50,000 to it, for a total value of $150,000. Likewise, if a new donor makes a $67,000 commitment, the Lam Challenge will add $33,000, for a total value of $100,000.
“To underscore the significance of Evan’s gift, consider this: if 15 new scholarships are realized through this match, the Lam Challenge will result in a minimum of $1.6 million raised for critical scholarship funds and provide admissions recruitment opportunities for Simon,” says Yeltekin. “Challenge gifts often encourage other donors to get involved because the total impact is greater. More students can benefit.”
Lam is the managing director of wealth management and senior portfolio manager at UBS Financial Services and a renowned expert who has advised the State Council of China on monetary reform. He is also a longtime supporter and dedicated volunteer with the University. In addition to being a trustee, he is a member of Simon’s National Council and the chair of the George Eastman Circle, the University’s leadership annual giving society, toward which he makes a $100,000 annual contribution.
Lam’s philanthropy established Lam Square in Rush Rhees Library and the Susanna and Evans Y. Lam Professorship at Simon. He also created the Evans Lam Study Abroad Scholarship, which sponsors five undergraduates annually to pursue scholarly exchange in Hong Kong, China. Additionally, he sponsors students from Hong Kong to study in Rochester. Lam regularly interacts with many of his scholarship recipients.
“I came to the United States with $180 and a four-year scholarship,” adds Lam. “I am forever grateful to the University and Simon for providing me with the foundation for my career in corporate finance and investment management.”