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Long-term InvestmentMayor Announces USC and Bank of Mexico Joint ScholarshipsMarch 12, 2014 • by News at Marshall
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The USC Marshall School of Business IBEAR (International Business Education and Research) MBA co-hosted an event with the USC Alumni Club of Mexico on March 4 in Mexico City as part of Los Angeles Mayor Eric Garcetti’s first international trade mission.
Garcetti and Larry Harris, Fred V. Keenan Chair in Finance and professor of finance and business economics, were the headline speakers at the meeting, which focused on the importance of business ties between Los Angeles and Mexico. The mayor announced a new partnership between USC and the Bank of Mexico, creating joint merit-based scholarships for Mexican students applying to the IBEAR MBA and other graduate programs at the University of Southern California.
Before a gathering of individuals from the mayor’s delegation, USC alumni from a wide range of industries in Mexico and Bank of Mexico representatives, Garcetti explained his mission to increase economic and cultural ties between Los Angeles and Mexico City, emphasizing that they share “the most important bilateral trading relationship between two cities.” This new collaboration between USC and Mexico’s central bank is another step toward strengthening that international connection.
Through the graduate loan/scholarship agreement, students accepted by one of five USC schools, including the Marshall School of Business, apply to the Bank of Mexico Fund for Development of Human Resources for merit-based subsidized loans, while also applying for merit-based scholarships from the school.
Pendy Pendyala, USC Marshall assistant dean and executive director of the IBEAR MBA, said that the program “is a strong platform for Mexican citizens looking to create trade opportunities between our two great cities and with the entire Pacific Rim corridor.”
Carlos Campos Lozano MBA ’93, sub-director for pensions at the Bank of Mexico, initiated the talks between IBEAR and the bank when Selahattin Imrohoroglu, professor of finance and business economics, was director of the IBEAR MBA. He believes strongly in the education and the community the program provides. “The IBEAR program is intensive and comprehensive,” Lozano said. “And in addition to being a good way to make connections across the Pacific Rim, it has a strong finance curriculum.”
As details of the partnership were being worked out, Fernando Zapatero, vice dean for graduate programs, Robert G. Kirby Chair in Behavioral Finance and professor of finance and business economics, broadened the discussion to include the full-time MBA program. Pendyala and the USC Office of Global Initiatives worked to bring the program to fruition and further expand it to include the Annenberg School for Communication and Journalism, Gould School of Law, School of Architecture and Viterbi School of Engineering.
“We expect this new partnership to create great exposure in Mexico for our world-class one-year, accelerated, international MBA program,” Pendyala said. “Participants in this program develop global leadership and management skills and upon graduation join a very accomplished and helpful alumni group worldwide.”
By offering generous economic support for highly qualified applicants, this program gives USC access to the best international talent and brings far-reaching benefits to the schools.
“This joint scholarship will further strengthen the Marshall School’s relationship with the Mexican business community,” said Harris, a former chief economist of the U.S. Securities and Exchange Commission who presented a talk on high frequency trading at the Mexico City event. “The opportunity for Mexican students to study shoulder to shoulder with our other students, whether domestic or international, will help give every student broader perspectives on international business practices and the cultural differences that make doing business in foreign locations interesting, challenging and rewarding.”
Garcetti, a visiting instructor at USC’s School of International Relations from 1998 to 2000, included members of the USC community, such as USC Senior Vice President Thomas Sayles, in his delegation. He was joined at the March 4 event by Councilmember Gil Cedillo, California Secretary of Transportation Brian Kelly and 27 leaders of industry and government in the Los Angeles area.
USC has operated an office in Mexico since 2005. Angela McCracken, director of the USC Mexico office, said, “This new venture is part of an initiative to build a long-term and substantive partnership with Mexico. We were fortunate to join with the mayor in this event because his mission is definitely in line with our vision for collaboration.”
About the USC Marshall School of Business
Consistently ranked among the nation's premier schools, USC Marshall is internationally recognized for its emphasis on entrepreneurship and innovation, social responsibility and path-breaking research. Located in the heart of Los Angeles, one of the world's leading business centers and the U.S. gateway to the Pacific Rim, Marshall offers its 5,700-plus undergraduate and graduate students a unique world view and impressive global experiential opportunities. With an alumni community spanning 123 countries, USC Marshall students join a worldwide community of thought leaders who are redefining the way business works.