Arthur Richard (Rick) Preiss, Jr.

A Life Well Lived Arthur Richard (Rick) Preiss, Jr. was born on October 11, 1942, in Yonkers, NY to proud parents Alice Schnepf Preiss and Arthur Richard Preiss, Sr. At the time of birth, Rick’s father was in the United States Army, serving as an interpreter at various locations in France. Rick died on Valentine’s Day, February 14, 2026, in the home that he loved, with the people he loved. His memorial service at Church of the Holy Spirit in Lake Forest, IL is planned for Saturday, June 13, 2026, at 3 p.m. The Preiss family is forever grateful for the exceptional care provided for Rick and his family during the last nine months of his life by Melgin Queroyla, Annabelle Jover and Rosanne Garcesa. They lovingly cared for us all and made the most challenging days manageable. Rick will be remembered as a man of God; a husband of over 50 years who was ever faithful and dedicated to living a meaningful and abundant life with his family; a dad who loved his family unconditionally, adored his daughters-in-law and found joy in every encounter he had with his grandchildren. Rick greeted everyone along his path with a big smile, a warm embrace or an energetic handshake. Friends describe him as a man of deep faith, a gentleman, a person who listened more than he spoke, someone who led by example and a fierce competitor on the squash court. Rick’s childhood was spent in Yonkers, NY, Southern Pines, NC and Rome, GA. along with his two brothers Alan and Lindsay. After completing high school, he earned his Bachelor of Arts (BA) degree in Economics from Emory University in Atlanta, GA. He participated actively in the social life on campus at Emory and served as President of his Chi Phi fraternity chapter. During his undergraduate study, Rick was especially intrigued by Economics and Statistics; thus, he began pursuing an MBA at Indiana University (IU) in 1964. After completing the MBA, his education was interrupted when he enlisted in the United States Army, during the Vietnam War. Rick completed Officer Candidate School at Fort Sam Houston in Texas and was then stationed at the Presidio in San Francisco, CA. During his service, Rick spent thirteen months at Long Binh, the Army’s largest base in South Vietnam, about 20 miles northeast of Saigon. He served admirably and was honorably discharged in 1969 with the rank of Captain. After returning home, he immediately began his pursuit of a PhD. in Economics at IU. It was during his graduate studies that Rick became interested in blending Economics and Mathematics to model and forecast economic conditions. While preparing for his doctoral oral exams at IU in 1973, Rick accepted the position of International Economist with Cummins Engine Company in Columbus, IN. While at Cummins, Rick generated demand forecasts for the company’s diesel engine business and served on merger and licensing teams negotiating with partners Cummins had worldwide. In 1974 Rick serendipitously met another Cummins employee, when she was sent by the company’s human resource staff to learn more about MBA programs from him. A year later Rick and Marty were married on May 10, 1975, in Evansville, IN, Marty’s hometown. In September 1975 they moved to Philadelphia, PA, where Rick worked with Nobel Laureate in Economics, Dr. Lawrence Klein, a professor at the University of Pennsylvania. Rick considered his three years of building econometric models and consulting with Dr. Klein’s Wharton Econometric Forecasting Associates (WEFA) clients as being equivalent to a prestigious residency for a medical student. In the fall of 1978, Rick accepted a position with Abbott Laboratories in North Chicago, IL to forecast raw material prices, which the company used to negotiate purchasing contracts. Recognizing the benefits of econometric forecasting, Abbott offered Rick an opportunity to join its Corporate Planning Department to provide both macroeconomic forecasts for their long-term business plans as well as discounted cash flow modeling for valuation of mergers and acquisitions. After relocating to the Chicago area, completing their terminal degrees and purchasing a house in Lake Forest, IL, Rick and Marty began to plan for a family. They often referred to the birth of their two sons, Artie in 1984 and Philip in 1988, as the most cherished blessing of their marriage. As parents, they strived to share three gifts with their boys: faith in God, love of family and the value of a good education. Both Artie and Philip were born at Lake Forest Hospital, baptized and confirmed at Church of the Holy Spirit and educated at the public and private schools of Lake Forest. Their sons have enriched Rick and Marty’s lives for the past forty years. The blessings continued as the boys both married extraordinary women, Megan Lafferty and Melissa McHugh. Those marriages have added three grandchildren to Rick and Marty’s lives---Molly, Blair and Graham. After leaving Abbott, Rick worked for Baxter International, IC Industries and MMI before launching his own consulting company, Preiss&Associates, in 1992. His consulting firm supported banks preparing for fair lending compliance reviews by examiners from Federal agencies: the Federal Reserve Board of Governors, the Office of Comptroller of the Currency, the Consumer Federal Protection Bureau and the Office of Thrift Supervision. Rick was a respected industry voice and speaker at national conferences. As an experienced applied econometrician, clients will long remember Rick as the person who taught them how to use his statistical monitoring results to develop effective solutions to their fair lending compliance issues. In addition to his work, which was both a vocation and an avocation for him, Rick formed many lasting friendships through tennis, paddle, squash and golf. Having spent his youth in North Carolina and Georgia, Rick grew up playing golf and baseball, but as an adult he chose to spend more time participating in racquet sports, which required less time than golf and were also sports that he could enjoy with his family at the Winter Club and Onwentsia Club in Lake Forest. Rick spent untold hours supporting his sons’ athletic pursuits of hockey, golf, baseball and, to a lesser extent, basketball and tennis. After becoming enamored with squash, Rick convinced both of his sons to choose squash as their required athletic elective at Hamilton College; however, they never showed the same enthusiasm for squash as their dad. As adults, each year Artie and Philip planned an annual “Boys Trip” for the three of them to cheer on their beloved Chicago Blackhawks, often in the frigid temperatures of Canada---thanks, Philip! Vacations were a highlight of Preiss family life, with the annual summer trip to Michillinda Beach Lodge being the most anticipated. For eighteen years the family, along with Grandma June, traveled to Whitehall, MI to spend long summer days relaxing with families who over the years became dear to them all. Those rendezvous marked the summers for Rick and Marty, as their children grew from young boys to adolescent boys and were launched into their young adult years. Other memorable vacations were attending Gray Rocks Ski School in the Laurentian Mountains of Canada; white water rafting on the Salmon River in Idaho; wine tasting in Napa Valley when Artie and Philip were both of legal age; snowmobiling along the Continental Divide in Wyoming; exploring Italy in 2012; and wine tasting in Beaune and touring Paris during 2018, after Artie and Megan were married. The Episcopal Church has been foundational in the life of the Preiss family. Rick joined the Episcopal Church in Bloomington, IN, during his graduate school days. Shortly after moving to Philadelphia, in 1976, Marty was received into the Episcopal Church, and the newly married couple joined St. David’s at Radnor, PA. Church of the Holy Spirit (CHS) has been the home parish of Rick’s family since moving to Lake Forest, IL in 1980. While a parishioner, Rick served on the Vestry, led multiple annual stewardship campaigns, supported parishioners as a Stephen Minister, served on the Newcomers Committee to welcome new members, participated as Head Crucifer, chaired the Spring Fair Committee, mentored Acolytes and participated actively in the Faith at Work Committee. When deciding with Marty to choose the CHS Columbarium as their final resting place, Rick commented that he loved the music at CHS and wanted to “hear” it in perpetuity! Rick is survived by Martha (Marty) Barnes Preiss of Lake Forest, his wife of over fifty years, Arthur Richard Preiss III (Megan) of Chicago, Philip Barnes Preiss (Melissa) of Lake Forest, three grandchildren: Molly Scott Preiss (5), Caroline Blair Preiss (2) and Graham McHugh Preiss (1) as well as his two brothers: Alan Robert Preiss of Atlanta, GA, and Lindsay Neal Preiss (Frances) of Rome, GA. In lieu of flowers, the Preiss family requests that gifts in memory of Rick be sent to Church of the Holy Spirit, 400 East Westminster Road, Lake Forest, IL 60045 and directed to the Arthur Richard Preiss, Jr. Memorial Endowment.

Arthur Richard (Rick) Preiss, Jr.

October 11, 1942 - February 14, 2026