DeSales University Names Financial Services Center for Scott Fainor
By Colin McEvoy on December 9, 2021
DeSales University has named its financial services center in honor of Scott V. Fainor, a former two-time Chair of the Lehigh Valley Economic Development Corporation‘s Board of Directors and one of the founding members of LVEDC.
James Greenfield, President of DeSales University, dedicated the new Fainor Center for Financial Services on Dec. 1, naming it in honor of Fainor, a 1994 graduate of DeSales and the current chairman of Fainor Holdings, LLC.
“The Fainor Center for Financial Services ties together my long-term involvement with DeSales and my commitment around education and young people becoming the leaders of tomorrow,” Fainor said. “The center is going to provide training and leadership skills for the leaders of tomorrow within our community and our country.”
In addition to being an alumnus, Fainor previously served on the University’s President’s Council, and then on the University’s Board of Trustees for 13 years.
“I have a long-term relationship with DeSales and I couldn’t be more proud to be part of the DeSales community,” he said. “In addition to being an alumnus and on the Board of Trustees, I’ve lectured at DeSales to business students. I’ve been very involved here and I’m going to continue to stay involved.”
During the dedication, Fainor thanked the DeSales community for the honor and stressed the importance of investing in students, as well as the importance of ethics and values in business and how they are being taught at DeSales University.
Fainor served as a Group Executive of BB&T from April 2016 until his retirement in February 2019. Prior to that BB&T, he was President and CEO of the public company National Penn Bancshares, Inc. and a member of the Board of Directors from January 2010 to April 2016.
Headquartered in Allentown, National Penn was a $10 billion-asset commercial bank with banking, investment, insurance and trust operations in Pennsylvania, New Jersey and Maryland. Under Fainor’s leadership, the bank was ranked No. 1 in Pennsylvania by Bank Director magazine in 2015 and was No. 17 in Forbes magazine’s Top 100 Largest Banks in America.
After Fainor started his career in banking and finance, his father introduced him to Father Daniel Gambet, then president of DeSales University. Gambet convinced Fainor to enroll in the university’s adult evening program, and Fainor said DeSales has been close to his heart ever since.
“DeSales was the place for me to be,” Fainor said.
Greenfield opened his dedication remarks noting how appropriate it is that the Fainor family name will now be used in a building named for Gambet.
The Fainor Center for Financial Services is located on the second floor of the Gambet Center for Business and Health Care at the Upper Saucon Township campus. It is a specialized business classroom designed to look and feel like a trading floor, with a digital ticker tape, flatscreen monitors broadcasting financial news, and computers with specialized financial software.
“It is important that we teach our students how individuals and corporations raise and manage capital,” said Chris Cocozza, Chair of DeSales University’s Division of Business. “Having this center gives students access to sophisticated investment analysis and forecasting software.”
During the dedication ceremony, Nolan Beck, a DeSales University senior majoring in accounting and minoring in data analytics, spoke about the importance of the center to the students, describing it as “Wall Street-esque.”
The Fainor Center for Financial Services was formerly known as the Talen Energy Trading Room. DeSales University is an investor with LVEDC.
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