Saint Peter’s University renamed its school of business on Wednesday in recognition of former U.S. Rep. Frank J. Guarini, who gave $10 million.

The gift will serve to transform and expand the current school of business, bolster business programs, and establish new initiatives for the school.

“Our business school will open the door to new experiences for tomorrow’s leaders,” Guarini said. “They have a bright and challenging future in this beautiful and complex world. Our young men and women will undoubtedly be benefited by the outstanding education they receive here at Saint Peter’s.”

Guarini served in World War II and was the recipient of the Navy Commendation Medal and three Battle Stars. He obtained his bachelor’s degree from Dartmouth College, his J.D. from New York University School of Law and studied at The Hague Academy of International Law in the Netherlands.

Plans for the new Frank J. Guarini School of Business include the construction of a state-of-the-art lab, innovation hubs, collaborative work spaces and a new entrance. Students will also be offered new opportunities through a student investment fund, lecture series, internship programs, a study abroad fund and increased investments in the school’s institutes and centers such as the Ignite Institute and the Center for Leadership Studies.

“We are incredibly grateful for this gift from Congressman Guarini, which demonstrates his love for Saint Peter’s, his deep commitment to the value of education in our nation and his belief in the future of Jersey City,” Saint Peter’s University President Eugene Cornacchia said. “His character, contributions, integrity and Jesuit ethos mirror the very spirit of the university. The future path for the Frank J. Guarini School of Business will be inspired by Congressman Guarini’s lifelong entrepreneurial drive and commitment to social responsibility.”

“I am deeply humbled to be leading the Frank J. Guarini School of Business,” said Mary Kate Naatus, KPMG dean of the School. “I commit to ensuring that our graduates will be prepared as ethical future business leaders with the knowledge and skill set for prominent careers in a variety of industries, poised to impact a business world that is increasingly interdisciplinary, and armed with a strong moral compass, committed to making a positive difference in their chosen professions and communities.”