Richard H. Driehaus was born and raised in Chicago. He is a truly a multi-faceted individual who has enjoyed enormous business success, which has earned him the reputation within the investment management industry of investor extraordinaire. In addition to his business career, he has also focused on a wide variety of philanthropic and community-service oriented projects, individually and through the efforts of The Richard H. Driehaus Foundation and the Richard H. Driehaus Charitable Trusts.
Investment Management Career.
Mr. Driehaus founded Driehaus Capital Management LLC in 1982. He is Chairman and Chief Investment Officer and the architect of the Firm's investment philosophy. As Chief Investment Officer, he has overall responsibility for the review of all domestic and international portfolios. Mr. Driehaus is assisted by a staff of portfolio managers and analysts with varying management responsibilities. He is also Chairman of Driehaus Securities LLC, an affiliated brokerage firm, which began operations in 1980. Additionally, he is President and a Member of the Board of Trustees of Driehaus Mutual Funds.Mr. Driehaus' success began in 1968 with his employment at A.G. Becker, where he worked in the Institutional Trading Department. Two years later he became the company’s youngest portfolio manager and was ranked among the top 1% of his peers measured by the A.G Becker Fund Evaluation Service. From 1973 to 1979, he worked at various brokerage firms including Mullaney, Wells & Co., where he was the Director of Research, and Jesup & Lamont, where he was Director of Research and a money manager. In 1980, Mr. Driehaus formed the stock brokerage firm Driehaus Securities Corporation LLC. His second company, Driehaus Capital Management LLC was formed in 1982. Driehaus Capital Management LLC, an investment advisory firm widely known for expertise in the aggressive growth style of equity investment management, currently manages $4.5 billion in assets (as of March 31, 2008). In 2000, Mr. Driehaus was named to Barron’s “All-Century” team of the 25 individuals who were identified as the most influential within the mutual fund industry over the past 100 years.
Support of DePaul University and other Educational Institutions.
Mr. Driehaus earned his B.S.C. degree in 1965 from DePaul and later graduated from the University’s business school with an M.B.A. degree in 1970. But, the relationship between DePaul University and Mr. Driehaus did not end after he completed his formal education. In fact, upon his graduation, the groundwork was laid for a mutually beneficial partnership as Mr. Driehaus built a successful career in the investment management business.Because Mr. Driehaus values education, and because his DePaul University education gave him a solid foundation of business knowledge, it has been important to him to give back to his alma mater. Several of his charitable endeavors have been devoted to the University through his focus on the College of Commerce and the Charles H. Kellstadt Graduate School of Business at DePaul University. He has endowed The Richard H. Driehaus Center for Behavioral Finance and has established a Professorship in Behavioral Finance. He has also endowed the Driehaus Center for International Business Studies, a program designed to foster a global business perspective. He was recently involved in the establishment of DePaul’s Czech Management Center (CMC) in Prague, and serves on its Board of Directors.
In addition, The Richard H. Driehaus Foundation has provided scholarships to full time M.B.A. candidates. Mr. Driehaus served on the Advisory Board for the Department of Finance, and has spoken at various college events as well as hosted career development events for business undergraduate and graduate students. In recognition of his contributions to DePaul University’s business curriculum, Mr. Driehaus was named “Financial Executive of the Year” in 2000, and in June, 2002, he was granted an honorary doctoral degree. He is currently a member of the DePaul University Board of Trustees.
Mr. Driehaus has also conveyed his gratitude to other Chicago-based educational institutions and religious orders focused on education, such as St. Ignatius College Preparatory School (his high school), St. Margaret of Scotland (his grammar school) and the School Sisters of Notre Dame in recognition of their contributions to his success. He has also arranged grants or made gifts to educational institutions where he does not have a personal connection, such as Holy Trinity High School, Cristo Rey Jesuit High School, St. Bede’s Grammar School, as well as Loyola’s St. Joseph Seminary.
Mr. Driehaus has established scholarships for education, including a scholarship at the University of the Virgin Islands. Recently, Mr. Driehaus made a most unusual gift to St. Xavier University, on Chicago’s southwest side. He donated Gilhooley’s Grande Saloon to the school, along with the entire shopping center in which it is located. He requested, and St. Xavier gladly agreed, that a hospitality curriculum be established for students to learn how to run a food/drink establishment, to provide service and to learn bottom line financial responsibility.
A Commitment to Historic Preservation and Design Excellence.
Richard H. Driehaus has a personal interest and commitment to design excellence and historic preservation as indicated by his involvement in a wide variety of projects, through his personal gifts, The Richard H. Driehaus Foundation, and his charitable trusts. His commitment stems from a focus on the “built environment” and his belief in the need to bring progressive design principles to people and projects that otherwise could not afford them.
Mr. Driehaus’ historic preservation efforts have included the restoration of the Ransom Cable House in Chicago, Illinois (the current headquarters for Driehaus Capital Management LLC) and the award winning restoration of a 1905 Georgian Revival style country house in Lake Geneva, Wisconsin. He is currently restoring the historic Nickerson Mansion which will open as a The Richard H. Driehaus Museum in 2008. In addition, The Richard H. Driehaus Gallery of Stained Glass adjacent to the Smith Museum of Stained Glass Windows at Navy Pier in Chicago features important stained glass pieces from the Driehaus collection.
The Richard H. Driehaus Foundation has also made major contributions for the restoration of Old St. Patrick’s Church and St. Ignatius High School in Chicago. Mr. Driehaus is involved in the activities of the National Trust for Historic Preservation, the Landmarks Preservation Council of Illinois, the Wisconsin Trust for Historic Preservation and several preservation organizations in the U.S. Virgin Islands. He has been involved in the preservation and restoration of historic homes in the Bronzeville and Prairie Avenue districts of Chicago, and with a variety of religious-oriented restoration projects.
The Richard H. Driehaus Foundation has promoted excellence in design by sponsoring an award for excellence in community design through a competition for a campus center building at the Illinois Institute of Technology (IIT), and by funding Herman Driehaus scholarships at IIT for five years. Other Foundation activities have included a competition to produce universally accessible designs for the Chicago Public Schools, the development of design alternatives for mixed income housing in Chicago, award sponsorship for non-profit housing design and support of design programs at the University of Illinois at Chicago’s College of Architecture and the Arts.
Mr. Driehaus’ interest in this area extends beyond “bricks and mortar” projects. The Foundation has funded several landscape and “greening” oriented efforts, including a design competition for the garden at Chicago’s Millennium Park, the restoration of the Caldwell Lily Pool in Chicago’s Lincoln Park, and the restoration and programs of the Garfield Park Conservatory. Mr. Driehaus is involved in the reconstruction of Roosevelt Park on the island of St. Thomas in the United States Virgin Islands where he was instrumental in securing the grants for this project. He also contributes to the St. Croix Foundation, which focuses on restoration as a tool for economic revitalization in the United States Virgin Islands, and lends his support to the St. Croix Landmark Society and the St. Thomas Historical Trusts. Through the University of Notre Dame and his trusts, Mr. Driehaus has helped establish the Richard H. Driehaus Prize for Classical Architecture which grants a yearly $100,000 prize to an individual who has made an extraordinary contribution to the field of classical and traditional architecture.
Helping Opportunity Knock.
Richard Driehaus strongly believes in giving individuals the chance to create their own success, a reflection of his gratitude towards those who gave him opportunities to prove himself throughout his career. Funding of economic opportunity initiatives is focused primarily on programs to benefit people living in poverty. One such program that The Richard H. Driehaus Foundation supports is Opportunity International, which makes small business “micro” loans to people in villages in other countries. His Foundation has also supported the development of a financial literacy program designed to help low-income families learn how to create and preserve wealth and an initiative sponsored by the South Shore Bank to form Individual Development Accounts which dollar-match low-income family’s saving plans. Mr. Driehaus also provides support to the Community Foundation of the Virgin Islands through monetary donations. The Community Foundation’s goal is to enhance the educational, physical, social, cultural and environmental well-being of the islands’ people.
Artistic Endeavors.
Richard Driehaus’ support of the arts is based on his belief that the arts provide much-needed balance in people’s often pressurized and hectic lives. The Richard H. Driehaus Foundation has a primary focus on smaller theatre and dance companies in Chicago. A sampling of the groups and projects supported by Mr. Driehaus and The Richard H. Driehaus Foundation include Pegasus Players, Trinity Irish Dance Company, Chicago Shakespeare Theatre, Poetry Society of America, Hubbard Street Dance Company and Redmoon Puppet Theater. In addition, the Foundation sponsors an annual juried award to support three individual Chicago artists who have shown promise.
In the field of fashion, Mr. Driehaus has also made his mark. The annual Richard H. Driehaus Prize for Fashion Excellence gives students from four Chicago area design schools an opportunity to showcase their latest creations and receive monetary awards. Mr. Driehaus arranges the underwriting for the Red Hot Chicago Fashion Gala, an annual display of designs from Chicago’s best and brightest young professional designers. He personally has set up a loan program, through the Apparel Board, to allow fledging designers an opportunity to borrow money to purchase materials for orders they receive.
From Boys and Girls Hope, to the Boys and Girls Clubs. From Old Town School of Folk Music to the Sherwood Conservatory of Music. From Beverly Area Planning Association to the St. Petersburg International Center for Preservation. All of these, and many, many other organizations, have benefited from the generosity of Richard H. Driehaus.