The University of St. Thomas mourns the loss of alumnus and longtime supporter Terrance “Terry” R. Dolan ’83, who passed away on March 29, 2025, at the age of 63. A steadfast advocate for higher education and a generous philanthropist, Dolan’s legacy at St. Thomas will live on through the lives of students he has helped and inspired through a scholarship fund he established at the university.
Born April 17, 1961, and raised on a farm near Lucan, Minnesota, Dolan was the 10th of 13 children in a large Irish Catholic family, with many members who attended St. Thomas. Rooted in faith, humility and hard work, Dolan’s early years shaped the character that would define his personal and professional life.
Dolan graduated from the University of St. Thomas with a degree in accounting in 1983. As a student, he was actively involved in campus life, participating in the Accounting Club and Volunteers in Action. He was honored with membership in Delta Epsilon Sigma, the national scholastic honor society for students at Catholic universities.
Professionally, Dolan rose through the ranks at U.S. Bank, which he joined in 1998 and ultimately served as vice chair and chief administrative officer. He was widely respected for his leadership, strategic thinking, and authentic approach to problem-solving. His boss and fellow Tommie, U.S. Bank CEO Andy Cecere ’82, serves on the St. Thomas Board of Trustees and often praised Dolan’s integrity and dedication, as did his other co-workers.
“My heart is with Terry’s family, friends and the thousands of people throughout our company and community whom he touched during the years. Our loss is profound,” Cecere wrote in an employee communication. “Terry was an outstanding businessman, but more importantly, he was a wonderful person. He cared deeply about the people he worked with and the teams he led, and his legacy can be seen everywhere we look. I have been reflecting on Terry’s life and the friendship we shared in the few quiet moments we’ve had since this news first reached us. I have known him since college, and it has been a privilege working with him here for more than 25 years.”
St. Thomas President Rob Vischer added, “Terry was a warm and gracious leader who cared deeply for his alma mater and the broader Twin Cities community. He was a powerful model of other-centeredness for generations of St. Thomas students.”
Dolan served on the Opus College of Business Board of Advisors from 2011-2016 and he established the Dolan Family Endowed Scholarship fund at St. Thomas in 2012 to support undergraduate students who demonstrate financial need and academic merit. He firmly believed in closing the education gap for those individuals who are talented yet may not be able to afford a college education.
His belief in the power of education, and his desire to give back, reflected a deep sense of purpose and gratitude. The scholarship ensures that future generations of Tommies will benefit from the same opportunities that helped shape his own path.
Another member of the St. Thomas family, Sally Mullen, adjunct faculty at the School of Law, worked with Dolan several years ago when he was the vice chairman of U.S. Bank's Wealth Management and Investments division.
“Of all the managers that I worked with during my 38-year tenure, Terry was among the most involved in reviewing client concerns, ensuring that resolution was fair and equitable, and occasionally even crafting client responses himself,” Mullen said. “Terry was also very supportive of community initiatives (and) he cared deeply about impact and legacy.”
Beyond his professional and philanthropic contributions, Dolan was known for his love of storytelling, his Irish wit, and the joy he found in family, golf, travel, and community service. His unexpected passing leaves a profound void in the St. Thomas community and beyond.
Dolan is survived by his wife of 42 years, Susan; daughters Jane ’09 (Chris) and Hannah (Eric); six grandchildren; and a large extended family. He is preceded in death by his parents and sister, Rose.
A visitation will be held on Wednesday, April 2, from 4-7 p.m. at Washburn-McReavy in Edina. A second visitation will be held at 10 a.m. on Thursday, April 3, at the Church of St. Patrick, followed by a memorial Mass at 11 a.m.
