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Fleet Financial Group Chair And CEO Terrence Murray Tells Class Of 1999 "That Business Is The Most Effective Engine Of Social Improvement" At The Bentley College Graduate School Of Business' 24th Commencement

May 14, 1999


WALTHAM, Mass.- In a heartfelt keynote address, Fleet Financial Group Chair and CEO Terrence Murray encouraged the Bentley College Graduate School of Business' 24th graduating class to achieve success not only in business, but in life. Prior to his address, Murray was awarded an honorary Doctor of Commercial Science degree.

In the afternoon ceremony, 243 master of science degrees in Accountancy, Business Economics, Computer Information Systems, Finance, Personal Financial Planning and Taxation were awarded; 315 master of business administration degrees and 23 certificates were conferred as well. In total, 581 graduate students from 16 states and 36 countries graduated.

Faculty and student awards were presented as well. The Gregory H. Adamian Award for Teaching Excellence for full-time faculty was presented to Joseph J. Newpol, associate professor of Taxation. The same award for part-time faculty was given to Suzanne Hinton, adjunct professor of Philosophy. Bentley's Scholar of the Year Award was bestowed upon Jahangir Sultan, associate professor of Finance and director of the Hughey Center for Financial Services. The Joseph M. Cronin Award for Excellence in Academic Advising was presented to Christine Williams, associate professor of and chair of Government.

Student honorees included William A. Diaper of Waban, Mass., winner of the Professor E. William Dandes Award for Graduate Academic Excellence; and both Stephen J. Guelcher and Jeremiah J. Cahalane, of Westboro and Milton, Mass., respectively, graduate co-winners of the W. Michael Hoffman Prize in Business Ethics.

Murray first took a few moments to discuss the recent Fleet-BankBoston merger, noting that the key to future success in the financial services industry will be size and strength. He added that the merger will increase the size of Fleet Financial Group by two thirds, with combined assets totaling almost $200 billion.

"We think our position is a strong one," said Murray, "particularly given what has evolved in other parts of the country. I think a key to success in the future will be to have a bank based in our city that understands our region and is committed to the well-being of the communities it serves. The merger is a strategic response to the challenge of consolidation and we feel it's the right response.

"But there are many other challenges to those of us in business these days," Murray added. "One of the most daunting is trying to achieve a sense of balance in one's life. A sense of balance not only makes for a better, richer life in general, it also makes for a better and more successful business person."

Murray mentioned not only the many quality-of-life benefits that Fleet Financial Group provides for its employees, but also highlighted the firm's numerous civic contributions. The Fleet Skating Center in Providence, RI; the Fleet Recital Series at the New Jersey Performing Arts Center; Team Fleet, the company's employee-run volunteer program; and Fleet's sponsoring of the Monet in the 20th Century exhibit at the Museum of Fine Arts in Boston last year are but a few of the contributions that the firm makes to the communities it serves.

"We know our employees want more from work than a paycheck," said Murray. "More and more employees want to work at companies where a successful integration of private and work lives is possible, where balance is achievable."

The afternoon began as Bentley President Joseph Morone welcomed the Class of 1999 with a hearty congratulations.

"What I'm feeling most intensely right now is a sense of confidence, a sense of certainty, that the degree that you are about to receive- as valuable as it is today- will be even more valuable tomorrow," noted Morone. "I'm feeling proud to be a part of your Commencement; confident that you are ready to launch your careers; sad that you are leaving us and that many good byes have to be said today; and hopeful that the friendships developed along the way will endure."

"I know I speak for everyone on this stage," Morone added. "For all the faculty and staff who worked with you, and for all the alumni who have preceded you, when I say that we're proud of what you have accomplished. We're confident that as you build your careers, you will make us look good. We're determined to give you every reason to be proud of Bentley College."

View the Commencement site

BENTLEY UNIVERSITY is one of the nation’s leading business schools, dedicated to preparing a new kind of business leader – one with the deep technical skills, broad global perspective, and high ethical standards required to make a difference in an ever-changing world. Our rich, diverse arts and sciences program, combined with an advanced business curriculum, prepares informed professionals who make an impact in their chosen fields. Located on a classic New England campus minutes from Boston, Bentley is a dynamic community of leaders, scholars and creative thinkers. The Graduate School emphasizes the impact of technology on business practice, in offerings that include MBA and Master of Science programs, PhD programs in accountancy and in business, and customized executive education programs. The university enrolls approximately 4,100 full-time undergraduate, 140 adult part-time undergraduate, 1,430 graduate, and 43 doctoral students. Bentley is accredited by the New England Association of Schools and Colleges; AACSB International – The Association to Advance Collegiate Schools of Business; and the European Quality Improvement System, which benchmarks quality in management and business education. For more information, please visit

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