In memoriam: James A. Greenleaf ’66G ’93P, professor emeritus of finance

James A. Greenleaf ’66G ’93P, who influenced the lives and careers of many Lehigh students and alumni as professor and chair of the Perella Department of Finance, passed away on July 22, 2015. He was 75 years old.

Born in Allentown, Greenleaf received a bachelor’s degree in mathematics from Penn State University before earning a master’s degree in management science from Lehigh. He went on to receive his doctorate from New York University.

Before beginning his 38-year tenure as a member of Lehigh’s faculty in 1970, Greenleaf served in the U.S. Army and worked for Western Electric, Bethlehem Steel and the Ogden Corporation. At Lehigh, he specialized in the areas of derivatives, risk analysis and portfolio management. He served as chair of the Perella Department of Finance from 1997-2003 and also served as a principal and consultant with several money management firms. A mentor beloved by many Lehigh graduates, Greenleaf leveraged his familiarity with a variety of financial institutions to provide his students with meaningful and practical experiences in the financial services industry.

“Because of all the little things Jim did, the Perella Department of Finance is on the road to bigger and better things,” said Richard Kish, professor of finance. “He was instrumental in having the department named and soliciting donations for a multitude of endeavors undertaken, including the Financial Services Lab, Wall Street trips, and databases for both student and faculty use in the classroom and for research.”

“Jim was one of those professors who really invested himself in his students and didn’t view his students strictly through the lens of the classroom,” said Lehigh trustee Michael Connor ’80 ’14P, a former student of Greenleaf. “He wanted to encourage them and mentor them well beyond the time that he spent with them in the classroom. A big part of his focus was for his students that went into the financial services world.”

Connor reflected on Greenleaf’s passion for keeping in touch with students and providing career advice.

“I’m one of those students,” said Connor. “[Jim] worked to create a dynamic whereby Lehigh students had a channel to go from campus to Wall Street.”

Greenleaf sought out opportunities to build such a channel, utilizing his contacts on Wall Street—many of them Lehigh graduates—to provide his students with firsthand experience of the financial services industry. He brought groups of students to New York each year, arranging visits to places such as a trading room at Merrill Lynch or the floor of the New York Stock Exchange. Each visit would culminate with a reception for students and Lehigh alumni in the industry.  

Greenleaf’s efforts played a key role in the 2002 formation of Lehigh’s Wall Street Council (WSC), which fosters the development of a Lehigh alumni network in the global financial services community. Greenleaf participated frequently in the council’s events for students and alumni even after his retirement in 2008.

In recognition of Greenleaf’s dedication and continuous support, the WSC established the James A. Greenleaf Alumni Award last year. It will be presented at the 2016 WSC Spring Reception to an alumnus who has had success in the financial services industry and has also prioritized giving back to Lehigh through time and volunteerism.

An influential teacher and advisor, Greenleaf was also a driving force behind the development of the Financial Services Laboratory (FSL) in the Rauch Business Center. The lab, opened in 2004, allows students on campus to understand, create and employ financial data and the software used on Wall Street. Its James A. Greenleaf Trading Room is named in his honor.

“It was a huge, groundbreaking event at the time to even suggest that we do something like this [the FSL],” said Nandu Nayar, professor of finance, chair of the Perella Department of Finance and former director of the FSL. “That is what helped significantly to get Lehigh ranked 18th by Business Week in the undergraduate business school rankings. It’s kept on paying dividends because our students have a phenomenal advantage over students from other schools. All of it originated with this bulb going off in Greenleaf’s head that we needed an FSL. The man was larger than life.”

Former Lehigh trustee Marc Paley ’83 got to know Greenleaf while raising funds for the establishment of the FSL. He was struck by the number of people who wanted to pay tribute to their former teacher and mentor. 

“In my entire life, I have never seen an outpouring from so many people,” said Paley. “The people that owe who they are today, either personally or professionally, to him, would do anything for him. ... He was probably one of the most successful people I’ve ever met given what other people thought of him and were willing to do for him, and that’s based on what he did for them on his own time—[it had] nothing to do with anything but trying to help a young person get a start, get an opportunity. So many people were grateful and will be grateful for the rest of their lives.”

Connor called Greenleaf the “father of the Financial Services Lab”: “His fingerprints are all over that effort, [but] he always blew off any credit. It was always just because he loved the industry and loved seeing his students being successful in the industry. He was really happy about being involved in his students’ lives and careers and really happy about the ability to make Lehigh a place which has a real strong, visible presence on Wall Street.”

“I have never seen someone who has had this effect on a wide group of people,” said Paley. “If someone needed help, he’d give you help. A lot of people look back today and would say they’ve had very successful careers and he’s the number one reason. That’s a pretty strong endorsement.”

Greenleaf is survived by his wife, Gwyn; his son, Dr. John E. Greenleaf and his wife Amy Guilford of Connecticut; his daughter, Jean Marie Anderson and her husband Todd of Maryland; two grandchildren, Paul and Ella; a brother, Frederick Greenleaf and his wife, Marjorie; sister-in-law, Diane Greenleaf; niece, Holly Greenleaf Whitney; and nephew, Gary Greenleaf. He was preceded in death by his first wife, Janet Greenleaf, in 2008; and a brother, Richard Greenleaf.

According to an online obituary, services are private and at the convenience of the family. Condolences may be left at the James Funeral Home website.