Retail Icon, Who Founded YU’s Business School, Championed Jewish Education

Yeshiva University profoundly mourns the loss of Sy Syms, a longtime, venerable supporter of the University and founder of discount clothier SYMS Corp., who passed away Nov. 17. A member of the Board of Trustees since 1984, Syms made an indelible impact on undergraduate education at YU. Most notably, he presented the University with a major gift in 1986 that resulted in the establishment of the Sy Syms School of Business, the first business school under Jewish auspices in the Western Hemisphere, on whose Board he also served.

“Sy Syms embodied excellence in education, ethics, decency, humor and humility—he represented the best within us,” said President Richard M. Joel. “His vision and ours was to ensure that young men and women would receive the finest in business education while continuing to grow as proud Jews and thinking citizens. These values made Sy and his wife, Lynn, role models for our children and our community.”

Driven by an innate awareness of his heritage as a Jew, Syms championed the importance of Jewish education as the foundation of the Jewish people. He took an active interest in the business school over the years, meeting with its students regularly and sharing with them lessons he’d learned while building his business from one store in lower Manhattan to a nationwide chain of 30 stores in 13 states.

“Sy had an enormous impact on our school,” said Dr. Michael Ginzberg, dean of the Sy Syms School of Business. “Beyond his initial gift that provided the resources to get the school started 23 years ago, he was a continuing presence here. He was involved with the executive committee that provides advice and support to the dean, and he enjoyed interacting with our students very much. We will miss his friendship and guidance.”

Alumni of the business school spoke fondly of Syms. “I feel grateful to have had numerous opportunities to sit down with Sy Syms to hear about his career as a successful entrepreneur and retail icon,” said 1997 graduate Chaim Haas, senior vice president of the technology and emerging media practice at Kaplow Communications, a mid-sized consumer PR firm in New York City. “He was an inspiration to me and my fellow classmates. The lessons that I learned from him about ‘always putting the consumer first’ have guided me throughout my career.”

Syms was widely known for his famous tagline “An educated consumer is our best customer” and his appearance in the clothing company’s TV commercials. In 1983, with 11 stores already open, Syms took his company public. He remained CEO of SYMS Corp. until 1998, when he was succeeded by his daughter Marcy, who serves on the business school's Board. He continued as the company’s chairman until his death.

The University awarded Syms an honorary degree in 1983 in recognition of his leadership in the business and Jewish communities. He was a major supporter of many communal and humanitarian organizations, including the State of Israel Bonds, whose executive board he served on for 15 years; Boys Town Jerusalem; Jewish Hospital in Denver; United Jewish Appeal; and Israel Tennis Centers. He was active in numerous civic organizations as well, including the Better Business Bureau of Greater New York, Police Athletic League and Inner-City Scholarship Fund of the Catholic Archdiocese of New York.

Syms was born Seymour Merinsky in Brooklyn, NY in 1926 to Russian immigrants. After serving in the army, he attended New York University, graduating with a bachelor of arts degree in broadcasting. He worked as a radio announcer in Maryland, New York and West Virginia, before settling in Manhattan to enter the clothing business.

He is survived by his wife, Lynn, and children Marcy, Robert, Richard and Laura, as well as two step-children, ten grandchildren and three sisters.

“My fellow students and I are saddened by the loss of Mr. Syms,” said Aliza Wolynetz, president of the business school’s student council. “We are most grateful for his legacy, which has given us the opportunity to attend an elite business school that integrates both business fundamentals and a Jewish curriculum. The student body will continue to excel in order to honor the memory of the person for whom our school is named."