The University of
Chicago Booth School of Business today announced creation of the Barclays
Global Retail and Commercial Bank Fellowship Program which will provide
full-tuition scholarships each year to four incoming MBA students from Africa,
South Asia and countries with emerging economies.
Preference for the
merit-based, two-year scholarships will be given to students who intend to
pursue careers in the financial services sector and demonstrate a commitment to
the development of emerging markets, the school said.
“While the Barclays
Fellowships will be awarded based on merit, it should be noted that, in
general, MBA candidates coming from regions of the world such as Africa are in
great need of financial assistance,” said Rosemaria Martinelli, associate dean
of student recruitment and admissions at Chicago Booth.
candidates earn low annual salaries in their countries by U.S. standards, and
scholarships drive the choice of schools for these students,” she said.
“The introduction of
a fellowship program for these students as opposed to a scholarship program is
significant, because it presents the opportunity for mentoring and enhanced
professional development,” said Stacey Kole, deputy dean for the full-time MBA
students with added insights about career opportunities in the banking industry
and also provide fellows with advisors whom they can tap in parallel to the MBA
experience,” said Kole, who also is a clinical professor of economics. Mentors
will be assigned by Barclays.
In addition to
mentoring, summer internships will also be available, she said.
“Investing in an
individual’s education is not just about donating money,” said Frits Seegers,
chief executive of Barclays Global Retail and Commercial Bank and a 1989 MBA
graduate of Chicago Booth. “It’s also about investing the time of our
staff and passing on our experience and skills to help others. At the
same time, Barclays gets the benefit of talented people with superior education
to increase our global footprint and capabilities.”
Retail and Commercial Bank Emerging Markets is responsible for Barclays
retail and commercial business in the growing markets of the United Arab
Emirates and Gulf States, Sub-Saharan Africa, Egypt and North Africa, and India
and the Indian Ocean region.
Chicago Booth has
increased scholarship assistance over the past seven years by 17.4 percent
Chicago Booth is one
of the leading business schools in the world. The school’s faculty
includes many renowned scholars and its graduates include many business leaders
across the U.S. and worldwide.
The Chicago Approach
to Management Education is distinguished by how it leverages fundamental
knowledge, its rigor, and its practical application to business challenges.
Chicago Booth offers
a full-time MBA program, an evening MBA program, a weekend MBA program, an
executive MBA program in Chicago, London and Singapore, a PhD program, open
enrollment executive education and custom corporate education.