The Australian Minister for Financial Services & Regulation, Joe Hockey, announced today the set up in Australia of a joint venture in business and finance education involving Stanford Business School, the Australian Graduate School of Management and the Melbourne Business School.
"This joint venture will be a powerful new force in education for the financial services sector in the region," the Minister said. "The partnering of these three world-class providers of business and finance education in Australia further underlines Australias claims to financial centre status.
"Availability of highly skilled professionals is a key factor for financial organisations deciding where to set up an headquarters in the Asia region. The joint venture will expand Australia's already excellent credentials in education and training for financial services.
"I am also pleased that Axiss Australia, the agency I established to spearhead the Federal Government's financial centre initiative, has helped develop this initiative by facilitating discussions between the three institutions," the Minister said.
Planning has started for the set up of a joint Stanford, AGSM, MBS high-level Executive Education Program in Sydney. The program will initially offer CEO and senior management level executive education for companies throughout Asia.
The first jointly branded Executive Education Program is expected to start in early 2001.
Faculty will be provided from the three partner institutions with opportunity for participation by leading academics from other Australian universities.
A committee of the three Deans will provide oversight of the joint venture. Early programs are expected to be oriented towards financial services and targeted to the Asia-Pacific region.
"This is an exciting opportunity for Stanford to establish an important new alliance in the Asia Pacific Region," said Professor Bob Joss, Dean of Stanford Business School. "The excellence and expertise of the Australian education system, and AGSM and MBS in particular, give us confidence that this joint venture will be unique in the region, and as a result highly attractive to senior executive participants."
The Acting Dean of AGSM, Professor Greg Whittred said: "The AGSM is pleased to be involved in such an innovative proposal one that marries the academic excellence and depth of AGSM and MBS with the well known academic excellence of Stanford.
"Our proximity to Asia and our depth of talent together with the Stanford input will mean that Australia will lead the region in quality executive education," said Professor John Rose, Director of MBS.
Les Hosking, CEO of Axiss Australia said: "I applaud Stanford, AGSM and MBS on their decision to establish the joint venture and am delighted that Axiss has been able to play a role in the process. Axiss will continue to assist the joint venture in the development phase, in addition to ongoing support with promotional activity.
"This is a perfect example of an innovative project which will have the effect of positioning Australia as a centre for excellence in education and training for the financial services sector in this region. Such initiatives will provide a solid foundation for the establishment of Australia as a financial services centre," the Minister said.
A Project Director for the joint venture will be appointed in the near future in the meantime general enquiries may be directed to Joan Warner at Axiss Australia, or, for academic and courses enquiries to Professor Whittred at AGSM.
The Project Director will be responsible for developing courses in collaboration with industry and a joint Faculty Working Group comprised of:
- Professor David Brady from Stanford Business School.
- Professor Tom Smith from AGSM, who is also a member of Stanford's Alumni.
- Professor Bruce Grundy from MBS, a former faculty member of Stanford.