Charles Cawley, the man responsible for building former credit card giant MNBA, has died.
Cawley passed way Wednesday morning at the age of 74 in Camden, Maine.
Cawley founded MBNA in 1982 as a subsidiary of Maryland National Bank after running the bank’s credit card unit for 10 years.
The company grew quickly through the 1980’s and spun off of Maryland National and became its own company in 1991.
MBNA’s footprint in the First State was a large one during the 1990s and into the early 2000s. For a period of time, it was Delaware’s largest private employer. It also owned 1.3 million square feet of space in downtown Wilmington in addition to its original campus in Ogletown.
Cawley and MBNA also donated significant amounts of money to arts organizations, non-profits as well as the University of Delaware and Delaware State University.
Cawley retired as MBNA’s president and chief executive officer in 2003 just three years before Bank of America bought the company in 2006.
Sen. Tom Carper (D-Delaware), who was Delaware's governor during MBNA's heyday in the 1990s, called Cawley's impact on the First State "profound" and says it continues to this day
“Many members of the team he led at MBNA continue to work at Bank of America today, while others work in the financial services industry throughout Delaware, and beyond our borders," said Carper in a statement. “MBNA, more than any other bank I’ve known, was dedicated to giving back and contributing to worthy causes that improved our community, and the lives of the ‘least of these’ in our society. Charlie may be gone, but he has left a legacy and set an example that we will all remember.”
Gov. Jack Markell also praised Cawley's work as a businessman and in the community.
“Charlie Cawley was a financial services pioneer and played a significant role in helping create an industry in Delaware that, today, is stronger than it has ever been," said Markell in a statement. "His success also provided him with the opportunity to give back to the community through his tremendous philanthropic support. I am sorry to hear of his passing, but hope his family and friends will find peace in knowing so many others have benefited from his life’s work.”
Funeral services are scheduled for Saturday at the Lady of Good Hope church in Camden, Maine.
