Richard “Dick” Carolan ’58

Richard “Dick” Carolan ’58, of Barrington, R.I.; June 1. He enrolled at Brown on an ROTC scholarship and quickly distinguished himself on the gridiron as a starting center and as linebacker as a sophomore. During his time at Brown he was introduced to teammate Paul Choquette ’60’s cousin, Mary Louise Gilbane; they married after his graduation and military commission. He began a career in investment banking at Kidder, Peabody & Co. in Boston and in 1969 he formed his own firm, Carolan & Co., Inc., specializing in underwriting Rhode Island tax-exempt bonds. He worked closely with governors John Chafee, Philip Noel, and J. Joseph Garrahy in developing quasi-state agencies such as Rhode Island Health and Education Building Corporation, Rhode Island Housing & Mortgage Finance Corporation, Rhode Island Student Loan Authority, and several other tax-exempt bond issue entities. He remained in the municipal bond business for more than 50 years and merged his firm with Oppenheimer & Co. in 2003. In his earlier years he coached Barrington youth hockey, football, and baseball and rarely missed any opportunity to watch his family perform or compete. He helped to create both the Brown Football Association and the Brown University Sports Foundation. His other accomplishments included officer positions with the National Association of Securities Dealers, Securities Industry Association, trustee emeritus of Brown’s Corporation, president of the Brown Football Association, and former director of Almacs Supermarket, Lee Engineering, Barrington YMCA, and Gilbane Building Corp. After Mary Lou’s death in 1999, he established an endowment fund in her memory at the Warren Alpert Medical School for scleroderma research. He is survived by five children and their spouses, including Catherine Daniel ’84, Amy Tyree ’95, and Richard Jr. ’90; 18 grandchildren, including  Heidi Anderson ’18 and John Anderson III ’11; five great-grandchildren; brother Francis ’68 and his wife; and nephew David Cary Jr. ’87.