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HEC Paris has received the largest single donation to a French business school from an individual donor. The €4m gift has been given by Philippe Foriel Destezet, who made his money through Adecco, the temporary employment group.
The €4m is in addition to €1m already donated to HEC by Mr Destzet, an alumnus of the business school.
The money will be used to offer scholarships to students on both the MBA and the MSc programmes at HEC and to boost salaries in order to attract top global faculty, according to HEC director general Bernard Ramanantsoa.
Prof Ramanantsoa, like other European deans, is increasingly looking to individuals rather than corporations in order to build up the business school’s endowment base. “It’s the new way we are trying to manage fund-raising,” he says.