Concordia's Thursday Report

Vol. 28, No.10

February 12, 2004


National Bank gives $1 million to develop PhDs

Group holding large cheque

Seen Monday morning at National Bank headquarters on La Gauchetière St. are, left to right, Marcel Danis, Vice-Rector, Institutional Relations and Secretary-General; Tony Meti, Senior Vice-President, Commercial Banking - International Nationall Bank; Rector Frederick Lowy; Réal Raymond, President and CEO, National Bank; JMSB Dean Jerry Tomberlin; and Joseph Capano, the director of Concordia’s Building Fund Campaign.
Photo by Andrew Dobrowolskyj

A new PhD fellowship program at the John Molson School of Business will be financed by the National Bank. The $1 million gift will support the work of doctoral candidates in the field of finance. Tony Meti is Senior Vice-President, Commercial Banking, International National Bank, and a graduate of Concordia.

“The Bank is always seeking highly qualified candidates,” he said. “This program will enrich financial research in Quebec and will benefit not only the National Bank, but the entire financial sector.” The fellowship program will target 50 students working towards a PhD in finance over the next 10 years, i.e., five students per year. Each fellowship will be worth $20,000 and will provide an important source of support for the students who qualify.

JMSB dean Jerry Tomberlin said, “These fellowships will help fill the present void of finance professors, who will, in turn, play a role in training the financial leaders of tomorrow.”

Canada produces only about half of the business professors it needs. Of those who get PhDs, only half stay in Canada. Some go to the private sector, while others go to the U.S., where they are in demand. Meanwhile, enrolment in finance and accounting programs has risen.

The National Bank provides financial services to consumers, small and medium-sized enterprises and large corporations in its core market. It is an active player in international capital markets and through its subsidiaries is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management.

The National Bank has assets of over $82 billion, and together with its subsidiaries, employs close to 17,000 people. The Bank’s securities are listed on the Toronto Stock Exchange.

The John Molson School of Business has been recognized in the 2004 international business school rankings of the Economist Intelligence Unit, Forbes Magazine, the Wall Street Journal, and the Financial Times of London. JMSB also ranked second in Canada in Corporate Knights for incorporating social responsibility into its curriculum.