A former leader in Virginia banking made the comment to Dean Shenkir early in his tenure that the McIntire School had done more for banking in Virginia than any other business school. The Virginia Bankers Association had shown its appreciation by endowing a chair at the McIntire School in 1970. Another banking chair was established in 1974 by Arthur J. Morris. Also during the 1970s, Finance faculty, under the leadership of Professor Larry Pettit, forged close relationships with executives from numerous banks in order to provide career opportunities for McIntire students. It seemed appropriate for the School to have a center to link faculty interests to this important external constituency. Thus, the Center for Financial Services Studies was established in 1979, with Professor Jack Lindgren as its first Director.