Carl W Smith

Amvest was founded in 1960 by philanthropist and business tycoon Carl W. Smith. Smith, a UVa alumnus and former member of the Board of Visitors, died in December 2005 at the age of 78. During his lifetime, Smith donated more than $50 million to UVa and other Central Virginia organizations. Best known among his contributions to UVa was a $23 million gift in 1997 for the expansion of the university's football stadium. The Chronicle of Philanthropy listed Smith and his wife, Hunter Smith, as the nation's 56th most generous donors in 2003. Following his death, Smith's family decided to sell off the company he founded 47 years ago with an initial investment of $40,000. At the time of its sale, Amvest had approximately 600 employees and annual revenues of around $300 million. Carl grew up in Wise, VA and attended Greenbrier Military School in Lewisburg, WV. Carl graduated from high school and was recruited to play football for the University of Virginia where he earned a degree in Economics and received his B.A. in 1951. Carl served as a Second Lieutenant in the Army from 1951-1953 and spent one year in Korea. Mr. Smith started his career in the early 1950s as a stock broker in Richmond, VA, then he and his wife returned to Charlottesville. He founded the AMVEST Corporation in 1960 and was CEO and Chairman of the Board until his retirement in early 2004. Mr. Smith remained as Director Emeritus until his death. Mr. Smith was a member of Omicron Delta Kappa, The Raven Society, Sigma Alpha Epsilon, and the Imp Society. He, along with the Vicars family, established a chair in Business Ethics at the University of Virginia Law School in memory of his grandfather, Judge O.M. Vicars, of Wise, VA. Mr. Smith is survived by his wife of 53 years, Hunter J. Smith, three children, Carl Vicars Smith, Stuart Peyton Smith, and Hunter Smith Croson, and one grandson, Corey Carter Croson. He will also be remembered by cousins Mary M. Walker or Sarasota, FL, and Dr. L.B. Sheppard of Boca Grande, FL and their families.