Richard J. Franke, the CEO of Chicago investment bank John Nuveen & Co. for 22 years, co-founded the Chicago Humanities Festival and helped establish the Franke Institute for the Humanities at the University of Chicago to encourage new projects across traditional departmental and disciplinary lines.
“Rich led the firm very well. He understood markets, he understood risk and he focused on the management of our risk positions,” said Donald Sveen, a former president and chief operating officer of Nuveen. An Evanston resident in the late 1960s, he was president of the Southeast Evanston Association community group. He later joined the board of trustees of Yale University, and in 1987, he joined the board of the U. of C., where he served for the next two decades.
In the late 1980s, he helped create the Chicago Humanities Festival, an annual series of lectures, concerts and films. The event started as a one-day gathering at the Art Institute of Chicago and at Orchestra Hall, around the theme of “expressions of freedom.”The festival expanded quickly into being a multiday event and now is a citywide, year-round suite of popular programs. Franke chaired the event until 2006.
“Rich had the ability, through his influence and sheer force of will, to mobilize others, inspiring them to dream about what may be possible,” Bahar said. After retiring from Nuveen in 1996, Franke continued serving on numerous nonprofit boards, including the Lyric Opera of Chicago, the Chicago Symphony Orchestra and the Chicago Shakespeare Theater. In 1996, Franke was named a fellow of the American Academy of Arts & Sciences.
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