In 1881, Matthew H. Davis left his chairmanship in the mathematics department and his position as director of the business department at Albert College, Belleville, Ontario, to lead the Toledo Business College.

The small school of 35 students, which had been established in 1858, rapidly grew to 350 students. During the 23 years Davis directed the school, four other schools were absorbed, and the name was changed to Davis Business College. The curriculum was gradually changed from Latin, German, Greek, calculus, and epistolary writing to banking, mercantile trades, shorthand, and typing.