Michael Hoben earned his bachelor of arts degree in finance with a minor in history from Lehigh University in 1961. As an undergraduate, Mike wrote for The Brown and White, participated on the intercollegiate track and soccer teams, and was a member of the boxing club. He served as secretary of Phi Kappa Theta fraternity, was chairman of the Interfraternity Council judiciary committee, and was a member of the Alpha Kappa Psi business fraternity.
Fulfilling his selective service duty after graduation, Mike served four years in the Air Force as a first lieutenant. Stationed in Arizona, he attended graduate school at night and earned a master of science degree in economics from Arizona State University in 1966. He later took additional Ph.D. coursework in economics at New York University.
After the Air Force, Mike began a successful investment career that spanned more than three decades. During that time, he held senior executive positions with T. Rowe Price, Exxon, and Union Carbide, where he was responsible for the management of large pension funds. In 1987, he joined Benefit Capital Management, a wholly-owned subsidiary of Union Carbide, as president, CEO, and CIO, where he was responsible for managing and investing more than $5 billion in equity, fixed income, and venture capital assets. He retired in 2001. His experiences also include being former director with A.G. Bisset, a currency overlay firm; director and treasurer of Gaylord Hospital in Connecticut; and a member of the Financial Council of the Diocese of Bridgeport, Connecticut.
In 2006, Mike was honored with the Alumni Award for his service, loyalty, and dedication to the university. His volunteerism and support of students and programs include being a member of the College of Arts and Sciences Dean’s Advisory Council, serving on the Endowment Fund Investment Committee, being class secretary for the Lehigh University Alumni Association, and serving on his 35th and 50th Reunion Fund committees.
At the time of his 50th reunion campaign, Mike was instrumental in helping to establish the Endowed Fund for the Teaching of Ethical Decision-Making. Since its inception in 2012, the fund has supported the Ethics Speakers Series which has sponsored 15 leading educators. Topics have included global business ethics, protection of personal privacy, and the biotechnological restructuring of life. Maximizing student access to ethical programming is important to Mike, who is a member of the Ethics Endowment Alumni Fund Committee. Another campus initiative to raise awareness of ethical decision-making is the Undergraduate Ethics Symposium, a daylong event where undergraduates present projects that examine ethical quandaries in their fields, at Lehigh, or in society.
An Asa Packer Society and Tower Society member, Mike, together with his wife, Joan, established a student scholarship in their namesake that has helped multiple students obtain a Lehigh education. He also created the Joan and Michael Hoben ’61 Teaching Fellowship in the Department of History, citing Professor Joseph Dowling as the reason he minored in the subject.
The Hobens reside in Darien, Connecticut, and have three grown children, Susan ’90, Michael, and Bradford.