Seattle's Foster Foundation has given $36.5 million to the University of Washington business school, which has changed its name to the Michael G. Foster School of Business.

Foster, who died in 2003, was a one-time UW student who grew his father's municipal bond-selling business, Foster & Marshall, into the Northwest's largest financial services firm during the 1970s.

Since 1984, the Foster Foundation has given $50 million to the UW, including $3 million for the business school's Foster Library, which is named after Michael Foster's parents, Albert and Evelyn Foster, also UW alumni.