Encouraging business students to study abroad is in the interest of HSBC Bank Canada, and Canada, Jason Henderson of HSBC says. ‘In the 21st century, it is all about trade and connecting countries and products internationally.’Jan Bauer/The Associated Press
The Globe's biweekly business-school news roundup.
Canadian business students have opportunities to study abroad, but financial barriers sometimes get in the way of pursuing an international experience.
With that in mind, HSBC Bank Canada this week announced financial support for 60 business students from 10 Canadian schools over the next three years to spend a semester abroad as part of their undergraduate degree. The HSBC International Business Award, worth $10,000 a student, largely pays for tuition and other expenses associated with studying at a foreign institution with an exchange agreement at one of the Canadian schools selected by the bank.
"We felt strongly we wanted to put in place a scholarship that could pretty much cover the cost of a student going away for a term and therefore not make it a financial decision [to go or not], but rather a merit decision," says Jason Henderson, executive vice-president and head of global banking and markets for HSBC.
Encouraging business students to study abroad is in the interest of the bank, and Canada, he says. "In the 21st century, it is all about trade and connecting countries and products internationally."
Recipients are selected on their academic standing, leadership experience and financial need.
Michael-James Viinalass-Smith, a third-year bachelor of commerce student at Dalhousie University's Rowe School of Business, is thrilled that the financial worry has been removed from his decision to attend Skema Business School in Lille, France, for four months beginning in January of 2016.
"I would have taken out more debt and saved every penny," he says. "With this $10,000, it gives me more flexibility and has taken the pressure off me."
Currently on a semester-long internship at Bank of Canada, Mr. Viinalass-Smith has his sights on a career in banking. He thinks that spending a semester in Europe, at what is a turbulent economic time, will be an eye-opener.
"In a field like finance there is nothing better than having a really broad view of how different decisions in different parts of the world can affect people," he says. Already bilingual, he hopes that a semester in France will strengthen his command of French.
The HSBC award includes an opportunity for award recipients to qualify for summer internships at the bank.
"We will not only hopefully be able to recruit some very qualified and talented university students," says Mr. Henderson, "but they also might go on to be customers. Hopefully their semester abroad opens their eyes."
The participating Canadian business schools are: John Molson School of Business, Concordia University; Rowe School of Business, Dalhousie University; HEC Montreal; Desautels Faculty of Management, McGill University; Queen's School of Business, Queen's University; Beedie School of Business, Simon Fraser University; Alberta School of Business, University of Alberta; Sauder School of Business, University of British Columbia; Rotman School of Management, University of Toronto; Ivey Business School, University of Western Ontario.
Concordia dean tapped to lead Middle East business school
After three years as dean of John Molson School of Business at Concordia, Steve Harvey heads to Lebanon in January to lead the Suliman S. Olayan School of Business at the American University of Beirut.
Molson management professor Stéphane Brutus has been named interim dean effective Dec. 1, pending a permanent replacement for Dr. Harvey.
Management guru receives lifetime achievement award
Henry Mintzberg, a critic of management education as taught by some high-profile business schools, is the 2015 recipient of a lifetime achievement award from Thinkers50, an international ranking of global business thinkers.
Prof. Mintzberg, the Cleghorn professor of management studies at Desautels in Montreal, "has been an intellectual trailblazer from his very first book – The Nature of Managerial Work – to his work on strategy and his pioneering executive education programs," Thinkers50 co-founder Des Dearlove said in a press release announcing the honour.
Manufacturing firm donates to accounting program
Linamar Corp., a Guelph, Ont.-based manufacturer of precision machinery, has donated $1-million over five years to Wilfrid Laurier University's Lazaridis School of Business and Economics for its accounting program, with a new centre for accounting education named for the company.
"Our accounting managers are a key part of our team at Linamar," Linamar chief executive officer Linda Hasenfratz stated in a press release issued by the university. "They provide invaluable analysis of our results and forecasts, identifying positive and negative trends to help us focus on areas for improvement and ways to mitigate risk."
Rotman team edged in Hult Prize
A team from National Chengchi University in Taipei has won this year's $1-million (U.S.) Hult Prize for social entrepreneurship, beating out five other finalists including MBA graduates from Rotman at the University of Toronto. The Taiwanese team won for its proposal for play-based daycare franchises to deliver education to children in urban slums.
The Rotman grads are developing an inexpensive prototype to boost reading and literacy skills of young children with little access to formal schooling.
New graduate program in finance and risk management
Another finance-oriented specialty degree has been added to the roster of graduate programs offered by Rotman. An eight-month master of financial risk management, to be offered in September of 2016, is aimed at recent graduates with "solid quantitative skills from undergraduate university programs," according to a Rotman press release.
"The next generation of business graduates must be 'risk savvy' and clearly see its importance to the success of the business and their own performance," adjunct professor Rose Patten, a special adviser to the CEO of Bank of Montreal, stated in the release.
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