RICHARD FRANKE

FRANKE--Richard J. Richard J. Franke, who started as a summer intern with the investment bank John Nuveen & Company and went on to serve as its chief executive officer for 22 years, died from complications related to pneumonia on April 15, 2022 in New York City. He was 90 years old. Richard was born in Springfield, IL. At 18, he left Springfield for New Haven, CT to attend Yale College. His education at Yale transformed him, laying the ground for a life that wove a commitment to the humanities into a business model of investment banking. He was well-known at Nuveen for hiring not only top MBAs but also analysts with history and English PhDs. Under his leadership, the company began paying the college tuition of all children of Nuveen employees, no matter their rank. After graduating from Yale, Richard served in the Army and then received an MBA from Harvard in 1957. He began working at Nuveen in 1955 and then served as its CEO from 1974 to 1996. He and his wife Barbara made Chicago their home for 55 years. Besides his business career he pursued his love of the humanities by supporting many cultural and educational institutions. At his death he was an emeritus board member of the Chicago Symphony Orchestra, Lyric Opera of Chicago, Chicago Shakespeare Theater, and the University of Chicago. He served as a trustee of the Newberry Library and the President's Committee on Arts and Humanities, and president of the Illinois Humanities Council. He chaired the board of Americans United To Save the Arts and the Humanities and the National Trust for the Humanities. In 1996 he was named a Fellow of the American Academy of Arts & Sciences. In 2011 he became a member of the American Philosophical Society. While a trustee of the University of Chicago, the Franke Institute for the Humanities was named for Richard and his wife Barbara. They established the Franke Fellows program, supporting the research of graduate students at the University of Chicago, Yale University, and Northwestern University. A devoted Yale alumnus, Richard served as a Fellow of the Yale Corporation for twelve years, and its Senior Fellow for six, chairing the Yale Investment Committee from 1990 to 1999. He was a leader in supporting programs at Yale to advance the study of the humanities. He and Barbara endowed the Franke Family Reading Room in the Sterling Library, the Franke Program in Science and the Humanities at the Whitney Humanities Center, the Franke Lectures in the Humanities, and the Franke Visiting Fellows Program. He was awarded a Doctor of Humane Letters from Yale in 2001, and in 2012 Yale bestowed upon him its highest alumni award, the Yale Medal. In 1988 he founded the Chicago Humanities Festival joining Chicago's premier cultural institutions in a literary and artistic celebration of the humanities. The Chicago Tribune noted his role in creating this novel venture as a "unique annual jewel of a civic affair". In recognition of this work, President Bill Clinton presented him with the National Humanities Medal for his vision "bringing the pleasure of art and ideas to the people of the great city of Chicago". An avid writer, Richard published two books, Cut From Whole Cloth (the story of his immigrant grandparents), and Books, Bonds, and Balance (a collection of life's lessons dedicated to his grandchildren). Reflecting on preparing young people for engaged citizenship, he wrote that "the humanities can best train citizens to make the complex political, social, and moral decisions that constitute a healthy democracy." In an essay published in Daedalus in 2009 he observed, "The humanities protect and give life to our most enduring values. The very DNA of civilization is encoded in the poet's song, the painter's brushstroke, and the vibrant dialogue about ideas." In 2016, after surviving a complex heart operation, he wrote about centering patients in palliative care "by bringing together medical science and the humanities...the 'whole person' can be attended to in the most meaningful sense of patient-centered care." His deep commitment to the connection between the humanities, life, and ultimately death persisted even into his last days, as one of the last things he said to his family was "guide me to a safer sea." Richard believed deeply in a duty to give back to his community and to those who were not as fortunate as he had been. He modeled the importance of business support for the arts, and personally gave generously not only to the arts and humanities, but to educational organizations and those serving refugees and people with insecure food and housing. Richard's nieces, nephews, and countless colleagues and friends treasured his generous and playful spirit. He was an avid fly fisherman, tennis player, and horseshoe pitcher. Richard is survived by his wife of 64 years Barbara, daughters Katherine (and her partner Janlori Goldman and their daughter Maya) and Jane (and her partner Peter Twombly), and his grandchildren Henry and Allie Molner. He is predeceased by his brothers Robert and Allyn, and sister Helen. Contributions in his honor can be made to the Chicago Humanities Festival or the Integrated Refugee & Immigrant Services (IRIS), New Haven, CT.