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LSUA HEADLINES

Cleco Establishes Endowed Chair in Finance at LSUA

Released: 12/01/2010

Cleco Corp., one of the state’s largest electric utility companies, has established an endowed chair in finance at LSU Alexandria with a $600,000 gift. The Scott O. Brame/Cleco Endowed Chair is named in honor of the company’s former CEO and chairman of the board Scott Brame.

The donation is the single largest gift in the 50-year history of the university. It is expected to be matched with a $400,000 grant from the Louisiana Board of Regents Support Fund for Eminent Scholars. Academic chairs are created with a minimum $1 million endowment.

The Scott O. Brame/Cleco Endowed Chair will be the second at LSUA. The first was the LSUA Alumni & Friends Endowed Chair in business.

Mike Madison, Cleco president and chief executive officer, said he “could think of no better way to show Cleco’s commitment to higher education in Louisiana than to honor Scott Brame. During his 40 years of service to Cleco he set high ethical standards and left a positive permanent imprint on our company and our community. Scott’s integrity and heart are unmatched.”

Brame began his career at Cleco in 1949 as an “unclassified trainee.” In addition to holding all of the company’s top leadership positions, Brame is a former chairman of the board of directors at Blue Cross/Blue Shield of Louisiana and the LSUA Foundation. He is a long-serving member of the Louisiana Board of Regents.

Brame said he was “honored beyond words, but the most meaningful aspect of the endowed chair is the permanent impact it will have on LSUA and the Department of Business Administration. These types of endowments are critically important in today’s higher education financial environment.”

Dr. David Manuel, LSUA chancellor, said the endowment is “an especially appropriate way to conclude the year-long commemoration of our Golden Anniversary, and we are grateful to Cleco for making this type of investment in the university and the community.”

Investment earnings from endowed academic positions are used in perpetuity to enhance academic programs and to allow the university to attract and retain the most qualified faculty members. LSUA has 21 endowed professorships, created with a minimum $100,000, in addition to the endowed chairs. The university’s endowment is administered through the LSUA Foundation.