Remembering John A. “Mac” McQuown, finance pioneer, entrepreneur, and Chicago Booth benefactor

Mac McQuown, a longtime supporter of the Fama-Miller Center for Research in Finance, former member of the Council on Chicago Booth, and friend of the University of Chicago, died on October 22, 2024 at the age of 90. McQuown will be remembered for, among other things, his generosity to the school and his seismic impact on the finance field.

Mac is best known for creating the first equity index funds—while working at Wells Fargo Bank in the 1970s—and transforming the finance field with his use of data analytics. He went on to become a founding director of Dimensional Fund Advisors alongside David Booth, ’71, in 1981, and stayed on the board of the firm while pursuing interests in bond investing, sustainable farming, and wine making. A driven entrepreneur, Mac developed more than a dozen businesses during his career.

In 2010, Mac and his wife, Leslie, made the foundational gift to establish the Fama-Miller Center for Research in Finance, in memory of Nobel laureate Merton H. Miller, a mentor and teacher to Mac, and in honor of Nobel laureate Eugene F. Fama, MBA ’64, PhD, ’64, Mac’s friend and colleague. The McQuowns gave generously to Chicago Booth for decades, establishing the McQuown Postdoctoral Fellowship, the Fama Family Distinguished Service Professorship, and the McQuown Fund for Energy Policy, while also supporting other initiatives across the university, such as the Climate Impact Lab. Mac continued to engage with Booth as a speaker, volunteer, and host at numerous events over the years.

Mac is survived by his wife, Leslie; his son, Morgan; and his daughter-in-law, Alexa. We offer his family our sincerest condolences and remain grateful for his remarkable support of the Fama-Miller Center.