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Stern: Pulling out of Switzerland
News Bärbel Schwertfeger - 09.10.2009
The first cohort of the “Executive MBA in Banking and Financial Institutions Management” was slated to start in August. The program was initiated by the Swiss Finance Institute and the Stern School of Business at New York University. Now the program has suddenly been cancelled and the Swiss are looking for a new partner school.
The first class was actually meant to begin in August but there were too few participants. Another reason for the cancellation of the joint program has to do with Stern Dean Thomas Cooley’s retirement in July and the fact that his interim successor “evaluated the market potential differently than his predecessor,” writes Claudia Pfenniger, Program Director at the Swiss Finance Institute. According to Pfenniger, discussions are already being held with another renowned American university to launch a new Executive MBA program.
The matter is not related to the tension between the US and Swiss banks, says Pfenniger. The US requires that Swiss Banks release customer data and the Swiss Finance Institute has been founded by leading Swiss banks and universities.
Stern is not commenting on the topic, instead choosing to keep quiet. With the cancellation it seems clear that the Americans don’t have any luck with their European activities. The announced “Executive Master of Science in Risk Management” together with the Amsterdam Institute of Finance (AIF) that was originally slated to start in April has now been pushed back to 2010.
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