High among the factors that make a top financial centre is access to human capital, according to a recent survey that ranks Singapore fourth after New York, London and Hong Kong as a global financial centre.
To strengthen the human capital for Singapore and for Asia as a whole, two leading business schools from the East and West, the National University of Singapore (NUS) Business School and the University of Chicago, Booth School of Business (Chicago Booth), are collaborating to create a unique series of executive education programs for current and would-be business leaders.
Chicago, itself a global financial centre, boast in the Booth School of Business the second-oldest school in the US—a school renowned for business education, particularly in finance and economics where George Stigler, Eugene Fama and Lars Peter Hansen are among seven Nobel Prize winners associated with the school.
In keeping with the finance theme the initiative, to be named the Asia Executive Series, will kick off in November 2015 with the intensive one-week'Emerging Chief Financial Officers (CFOs) for Asia' program. This program which is now open for applications, will feature leading academics (including Chicago Booth’s professor of economics Randy Kroszner, former Governor of the US Federal Reserve from 2006 – 2009) and practitioners, allowing participants to gain deep insights into regional and global economic trends. The course will also examine the fragility of the finance sector and regulations, while developing leadership skills and strategic thinking on innovation, fund sourcing and risk management.
The Asia Executive Series curriculum will take into account Asia's unique environment, where family-controlled firms dominate stock markets, in contrast to the diffused ownership structures in the West. As ownership structures in Asia create unique challenges to funding alternatives, investment decisions, and corporate governance, the ‘Emerging CFOs for Asia’ program will feature one of the world's most influential experts on family business ownership, Professor David Reeb, Co-director of the program and Professor of Banking and Finance at NUS Business School.
This is the first time Chicago Booth has formed a partnership with an Asian university to offer an open enrolment executive education program, and reaffirms its commitment to the region, particularly Singapore.
According to Sunil Kumar, Chicago Booth Dean and Professor of Operations Management: "The Asia Executive Series: Emerging CFOs for Asia program will tackle leadership, strategy and finance issues focusing on the challenges in Asia. This collaboration signals our intent to continue to contribute to Singapore and this region."
Welcoming the alliance, Professor Bernard Yeung, Dean of NUS Business School says: "This partnership also reinforces NUS Business School's leading position in Asia and our commitment to work with the best to contribute to Asia's growth. It is or latest initiative to develop a pipeline of leaders for this region, following the launch of the Asia Leaders in Financial Institutions (ALFI) program."