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Carol and Ian Gilhooley came to Canada from Scotland in 1976. They moved from Toronto to Vancouver in 1984. While enjoying considerable success in Canada, Carol and Ian were also fortunate in being able to visit and live in a number of different countries, most notably Indonesia, Croatia and Ukraine while Ian consulted in these countries on the pillars of financial markets in emerging economies.

Carol and Ian have always seen the value of education and this perspective is shared by their children, Richard and Karen, for whom this award is named. Both Richard and Karen graduated from the University of Victoria and credit the university with providing the foundation for their post-graduate studies and subsequent careers. In addition, Richard and Karen and their respective spouses are making sure that their children Sebastian, Cypress, Findlay and Lachlan have every opportunity to achieve their educational goals and objectives.

The Richard Gilhooley & Karen Ockelton Scholarship Endowment is intended to allow deserving students to fulfill the full extent of their talents and ambitions through the strong foundation of a university education.