Brown University has their portrait collection online! And so finding out about the painting and this person was a breeze.
In short, Brown University's first Provost, Arnold, received his undergraduate, masters, and doctoral degrees at Brown and was a successful researcher and professor at Brown (he even worked on the Manhattan Project!)
In the "small world category" of things (not uncommon in RI -- at least in my experience growing up there), I found it interesting that Arnold also was a trustee of Rhode Island School of Design.
Unfortunately, Brown University did not post a color version (I got spoiled by their others). However to learn more about the painting or person follow this link:
http://dl.lib.brown.edu/portraits/display.php?idno=141
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