Peat Marwick, one of the nation's largest certified public accounting firms, has increased its commitment for an endowed accounting professorship at Kansas University from $170,500 to $500,000.
L. Joseph Bauman, dean of the KU School of Business, announced the gift at a Tuesday luncheon honoring Larry Horner, a KU graduate and the recently retired chairman of KPMG Peat Marwick.
Horner, for whom the professorship will be named, visited the campus and spoke to business classes.
The increased commitment to the KU Endowment Association will be developed through donations from employees and partners of KPMG Peat Marwick with matching and additional gifts from the KPMG Peat Marwick Foundation.
"We at KU are very proud to claim Larry Horner as a graduate," Bauman said. "This generous gift will serve as a lasting tribute to him for his outstanding career with KPMG Peat Marwick, and it will help ensure the ongoing excellence of the KU School of Business."
KPMG Peat Marwick provides accounting, auditing, tax and consulting services in more than 140 offices in 110 cities in the United States. The firm employs more than 40,000 people worldwide.
Horner, a Marquette native, graduated with a bachelor's degree from KU in 1956. While at KU, he was a member of Beta Theta Pi social fraternity and Beta Gamma Sigma honorary society, and he played varsity football in 1953-54.
After graduation, Horner went to work in the Kansas City, Mo., office of Peat, Marwick, Mitchell & Co. He became chairman of the board and chief executive officer of the firm in 1984 and was the architect of its merger in 1987 with the European accounting firm of KMG, creating KPMG Peat Marwick. Horner retired June 30 from KPMG Peat Marwick and is managing director of Arnhold & S. Bleichroeder Inc. in New York City.
Horner is a life member of the KU Alumni Association and a member of the steering committee for Campaign Kansas, KU's historic fund-raising effort.
KPMG Peat Marwick's gift has been included in Campaign Kansas.