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Northwestern Kellogg Receives $2M Gift for Sustainable Finance

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A joint $2 million gift establishes the Thomas K. Montag Sustainable Finance Fellowship Fund in Sustainable Finance at Northwestern Kellogg. In addition to programming such as conferences, panels and research, the fellowship is designed to bring sustainable finance leaders to engage with Kellogg students and faculty.

The field of sustainable finance prioritizes environmental, social and governance issues in investing and business practices. The focus will be on finance, banking and economics covering topics such as addressing climate change and improving inclusive development practices.

Northwestern Trustee Tom Montag ( MBA ’82) and Janet M. Montag, along with Bank of America Charitable Foundation, each made a $1 million gift to Kellogg. “Kellogg prepares leaders for the future and sustainable finance will play an increasingly critical role as global companies prioritize addressing the challenges of tomorrow with action today. Bank of America, Janet and I are committed to sustainability — from restoring waterways to helping companies achieve net zero, and this fellowship brings that commitment to life,” said Tom, who joined the Board of Trustees in 2019. He served as chief operating officer of Bank of America from 2014 until December 2021, when he retired.

“Anybody who knows Tom knows that he is a force of nature,” said Francesca Cornelli, dean and Donald P. Jacobs Chair of Finance at Kellogg. “He has been a leader in the financial and banking sector for a long time, always able to move forward and not afraid to take new directions. It is not a surprise then that he has been a supporter of sustainable finance from the very start. Kellogg shares his belief that the financial sector is pivotal in meaningfully advancing sustainability. This generous gift will make a significant difference in the study and teaching of sustainable finance. We at Kellogg are delighted to pay tribute to Tom’s incredible accomplishments and forward-looking attitude.”

The new fellowship adds to Kellogg’s foundation in sustainable finance. Every year, the school serves as host for The Impact and Sustainable Finance Faculty Consortium, The Kellogg-Morgan Stanley Sustainable Investing Challenge, and The Moskowitz Prize.

See the full announcement here.

Lauren Wakal
Lauren Wakal has been covering the MBA admissions space for more than a decade, from in-depth business school profiles to weekly breaking news and more.