Richard K. Struthers ’77 is the current President of Ashford Point Enterprises, a Financial Services Consulting Company. He was a founding member of the management team of MBNA America which was the world’s largest affinity consumer lending company before being sold to Bank of America. Ric was most recently the President of Global Card Services for BAC before retiring.
Struthers helped land one of MBNA's biggest and earliest clients, Penn State, his college alma mater, for its affinity-card program in the early 1990s. MBNA issued credit cards for tens of thousands of Penn State students and graduates, profiting from their fees and interest rates in exchange for small cash grants to the school's alumni association each year. The pattern, repeated at more than 1,000 colleges, sports leagues, and hobbies and professional groups, made MBNA the largest independent credit card company under founder Charles M. Cawley.
Mr. Struthers was recognized as a Penn State Alumni Fellow in 1998 and a Distinguished Alumnus in 2002. He was a member of the For the Future Executive Committee and served on the Steering and Executive Committees of the Grand Destiny Campaign, as volunteer chair for the Penn State Annual Fund, and a member of the Alumni Council.
He is a member of American Express Bank Board and Chair of their Risk and Compliance Committee. He is also a member of the Delaware Chamber of Commerce and past Chairman.
He and his wife Sharon have established the Struthers Family Scholarship, several undergraduate scholarships for Smeal and Delaware students and have been generous supporters of the Career Services Center both at University Park and the Wilkes Barre campuses along with leading the building campaign for Smeal. He is a member and past chair of the Smeal College of Business Board of Visitors and a member of the Executive Committee of the Advisory Council on Philanthropy.
He earned a Bachelor of Science in business administration from Penn State and is also a graduate of the University of Virginia Retail School of Banking. Ric and Sharon have three children Ryan, Brice, and Corrie. They currently reside in Wilmington, Delaware.