Honoring the life and legacy of Russell E. Palmer, Jr.

Photo courtesy of The Palmer Group

Russell “Russ” Palmer, Jr. (B.A. Accounting ’56), a proud Michigan State University alumnus, pioneering business leader, devoted philanthropist, and tireless advocate for education, passed away on June 14, 2025, at the age of 90.

Throughout his extraordinary life, Palmer remained deeply connected to Michigan State, using his success to open doors for future Spartans. His generosity and leadership have left a lasting imprint on the MSU community, where he is celebrated not only for his accomplishments in business but for his steadfast commitment to empowering the next generation.

Growing up in a working-class family in Jackson, Michigan, Palmer worked multiple jobs beginning at age 12 to put himself through college. His Spartan journey began at Michigan State University, where he received a full-ride scholarship. His son, Bradley Palmer, shared a bit about his father’s time at Michigan State: “While at Michigan State, [Russell Palmer] chose to study accounting as he was fascinated with numbers, and he liked the discipline and logic of it. He quickly became president of his fraternity (where he earned money as head dishwasher and maybe occasionally playing pool).  He turned around the fraternity and developed it into one of the most popular ones at Michigan State. To make extra money, he learned to play the accordion and became known as the best accordion player for weddings and parties in that region of Michigan.”

After graduating in 1956, Palmer became the youngest-ever CEO of a “Big Eight” accounting firm when, at just 37, he took the helm at Touche Ross & Co. (now Deloitte). His leadership was instrumental in orchestrating the landmark merger that created one of today’s “Big Four” accounting powerhouses.

After nearly three decades in accounting and consulting, Palmer transitioned to higher education, becoming the tenth Dean of the Wharton School at the University of Pennsylvania in 1983. He transformed Wharton into the nation’s top-ranked business school, expanded executive education, recruited over 100 new faculty members, and created a leadership course that remains one of Wharton’s most popular today. Palmer later founded The Palmer Group, a private equity firm specializing in education-related investments, further blending his passion for business with his dedication to learning.

Russell and Wendy Palmer were generous supporters of MSU, most notably through the creation of the Russell Palmer Career Management Center at Broad. Photo credit: Rey Del Rio, 2019

Palmer’s devotion to Michigan State remained constant throughout his life. He and his wife, Wendy, were generous supporters of the university, most notably through the creation of the Russell Palmer Career Management Center at the Broad College of Business in 2017. The center has since played a pivotal role in helping hundreds of Spartans chart successful and meaningful careers. Marla McGraw, assistant dean for career services in the Russell Palmer Career Management Center, shared, “I used to look forward to our chats every few months. His insights and comments about the work we do in the Palmer Center were always very appreciated.  His legacy, for myself and our team, is the amazing and collaborative space in which we work, serving as a constant reminder of his generosity and vision.  The Palmer Team works hard to be a credit to his name; we’re very fortunate and proud to be associated with such an incredible person.”

In recognition of his enduring support and exceptional career, Palmer was awarded the Broad College Lifetime Achievement Award in 2024, honoring not just his professional success but his unwavering dedication to MSU and its students.

“I had the privilege of holding the Russell Palmer Professorship when I was hired as chair of the Department of Accounting and Information Systems in the Broad College,” said Sanjay Gupta, Dean Emeritus and Eli Broad Professor in the Department of Accounting and Information Systems. “Over my years at MSU, I had many opportunities to interact with Russ and developed deep respect and admiration for him. He provided invaluable insight and encouragement for the Minskoff Pavilion project, drawing on his experience leading a similar successful effort at Wharton. His input on a variety of topics, including student success, the importance of experiential learning and more, was invaluable during my time at Dean. Russ was also a strong supporter of our work in career management, and he significantly advanced those efforts through his generous commitment to name the Russell Palmer Career Management Center. His dedication to higher education has left a lasting legacy, both at Michigan State and for me personally.”

Beyond Michigan State, Palmer’s influence was far-reaching. He served on the boards of leading companies including Honeywell, Verizon, and Goodyear, and was a respected advocate for ethical corporate governance. His civic leadership extended to organizations like the National Constitution Center, the Mann Center for the Performing Arts, and the Smithsonian National Board.

Through the Russell E. Palmer Charitable Trust and the REP Family Foundation, Palmer championed education equity, supporting underserved youth and funding scholarships, independent schools, and charter schools, always guided by his belief that education is the most powerful pathway to opportunity.

“Russ and I exchanged a warm and thoughtful series of notes during my first year at Broad,” said David Souder, the Eli and Edythe L. Broad Dean of the Broad College of Business. “We discovered a unique and meaningful connection; Russ had served as dean of The Wharton School of Business during the same time I was a student there. It was a wonderful, full-circle moment that underscored the far-reaching impact of his leadership in both academia and industry. The exceptional work continuing at the Russell Palmer Career Management Center stands as a fitting and lasting tribute to Russ, a loyal Spartan whose career and contributions continue to inspire.”

Palmer’s remarkable life was marked by humility, integrity, and a quiet determination to make a difference. He is survived by his wife, Wendy Palmer; his sons, Bradley C. Palmer, Stephen R. Palmer, and Russell E. Palmer III; his daughter, Karen Palmer Korfmann; 16 grandchildren; and his former wife, Phyllis (Hartung) Palmer.