Charles "Bud" Koch, chair of Case Western Reserve University Board of Trustees, and his wife, Katie, have made a $5 million commitment to the university. Their gift will support a capital project to enhance the student and campus experience.
This commitment is a legacy gift that acknowledges the Koch family's multi-generational relationship with Case Western Reserve University. Koch's father, Charles Joseph Koch, Sr., was a 1941 graduate of the Case Institute of Technology. The senior Koch was appointed CEO of Charter One Bank by his father in the mid-1960s and appointed his son, Bud, to the position in 1988. Koch, Sr. died in 2001.
Bud and Katie Koch's two sons, Charles Brian and John P., each earned M.B.A. degrees from the Weatherhead School of Management.
"Case Western Reserve has been a centerpiece of our family's lives for decades," Bud Koch said. "This gift gives us an opportunity to honor the Koch family legacy at the university, to celebrate this great institution, and support an even more engaging educational experience for the future."
A member of the Case Western Reserve Board of Trustees since 1999, Bud Koch began his term as chairman on October 18, 2008, succeeding Frank N. Linsalata.
"Bud and Katie's generosity is reflective of their overall support of the university," said Barbara R. Snyder, president of Case Western Reserve University. "Bud has already distinguished himself as a strong leader committed to helping the university realize the ambitious goals of our strategic plan, Forward Thinking."
Koch was chairman, president and chief executive officer of Charter One Financial, Inc. prior to its sale to The Royal Bank of Scotland (RBS). Koch also is a member of the board of Citizens Financial Group and is a director of Assurant, a specialty insurance provider. In addition, Koch serves as a director and former chairman of the Federal Home and Loan bank of Cincinnati.
Koch is also the immediate past chairman and a member of the board of trustees at John Carroll University and serves on the boards of a number of Cleveland organizations.
The Bratenahl residents have long been supporters of university-wide initiatives at Case Western Reserve. In November 2007, they were honored by the Hattie Larlham Foundation with the Rudolph H. Garfield Circle of Caring Award for their 25 years of service to the organization.