Peter Ayars Frost

Peter Ayars Frost, age 86, of Kenmore, Washington passed away on Thursday, February 8, 2024. Peter was born in Los Angeles, California, to Thomas “Jack” Frost and Alice Ayars on February 2, 1938. He graduated from Newport Harbor High School, earned his BA from Occidental College, and went on to achieve both a Masters and PhD from the University of California, Los Angeles. He met Joan Lewis when she joined the collegiate sailing team as a substitute, but soon became a member of the team. They sailed into each other’s hearts and married on June 17, 1961.

After graduate school, he became an assistant professor at Carnegie-Mellon University from 1964-1969. His career continued when he became a professor at the University of Washington in 1969. During his time at Washington he was a visiting professor at the University of Virginia in 1974, became editor of the Journal of Financial and Quantitative Analysis from 1987-1989, was Chairman of the Department of Finance and Business Economics from 1981-1990, took on the position of Director of the Doctoral Program from 1990-1996, and was honored as the U.S. Bank of Washington Faculty Fellow from1988-1996. He also consulted for Gulf Oil Company on their capital budgeting manual, analysis of an investment strategy at Weyerhaeuser, and was a witness on banking regulations for the Office of the Attorney General, State of Washington.

Peter grew up in Newport Beach, California, which allowed him to sail competitively with his brother Thomas Frost. He sailed a variety of boats, including Laser, Snowbirds, and Snipes. After he was married, he put his business and accounting skills to use helping his church finance committee. Passing on his baseball knowledge to his younger brother Jeff Frost and coaching his son’s baseball team gave him joy. He also spent many days in the rain or hot sun cheering on his son and daughter at their soccer games. Somewhere in these years he developed a love of photography, catching his children and grandchildren on film during various camping trips, hikes, sporting events, concerts, and family trips including adventures to Yosemite and Yellowstone.

Peter was a quiet leader and a great support to family, friends, and co-workers. He always had a calm and a gentle spirit, going out of his way to help those he loved, driving many miles to help, or sacrificing his own needs to ensure that others were cared for. As a dad he was always available to work through a math problem, practice throwing a football or baseball, perfect various soccer skills, or just offer a hug. He had a gift for telling family stories that did not disappoint, but encouraged those around him to try new things, work hard and do what is right. It did not take much for his daughter to convince him to to rekindle his competitive sailing after sharing numerous racing tales with her. They spent the next ten years successfully racing on the waters of Lake Washington. The time and hugs he gave to his family are the most cherished gifts he left behind.

He is survived by his wife Joan; his three children Peter Scott Frost, Brad Frost, and Kristen Ness; and his three grandchildren Kellen Ness, Kaylie Ness, and Kyler Ness.