K Foundation, with the collaboration of Banco Santander, gives nearly US$300,000 Donation to The Chinese University of Hong Kong
Donation aims to provide quality finance education to students, entrepreneurs or policymakers
The Chinese University of Hong Kong (CUHK) is pleased to acknowledge a generous donation of US$288,000 from the K Foundation set up by Prof. LIU Ming Kang, honorary professor of CUHK Business School. Banco Santander, through its Santander Universities Global Division, collaborates in this initiative with the K Foundation. The donation aims to assist students, policymakers and entrepreneurs in the Greater China region and Southeast Asian countries to receive quality executive education at CUHK.
The Santander-K Foundation Scholarship Programme would make a total contribution of US$288,000 over a three-year period. It aims at promoting greater entrepreneurial spirit among students and assisting them in pursuing a higher education in finance. This programme is supported by Banco Santander through its Santander Universities Global Division.
Under the agreement, four selected full-time students will be granted a total US$26,000 for taking a finance-focused course titled ‘China in Transition: Growth Model Change and Innovation’ under the CUHK MBA Programmes taught by Prof. Liu Ming Kang. In addition, six full-time MBA students will be awarded a total US$30,000 to participate in the International Mobility Programme, ‘The Santander-K Foundation-CUHK Short Term Scholarships’ under the CUHK MBA Programmes.
The programme also includes other initiatives such as the modernization of the banking system in Asia. Eight employees from Central Banks and/or banking regulatory agencies in Asian Non-G20 economies will receive a total US$40,000 in scholarships to participate in the ‘Advanced Programme for Central Bankers and Regulators on Basel III,’ organized by the Institute of Global Economics and Finance (IGEF) of CUHK.
Professor Liu said, ‘We believe that a quality finance education should not be offered to the elite few only. The Santander-K Foundation Scholarship Programme is reinforcing our commitment to closing the education gap to support the next generation of potential students to pursue higher education for their financial career. Through the scholarship programme, we also hope to modernize the current banking system by offering financial executive education to deserving employees from Central Banks in Asian Non-G20 economies.’
‘Prof. Liu Ming Kang is a role model for many young people who want to join the financial sector. We are delighted by the Foundation’s generosity,’ said Prof. Michael Ferguson, Associate Dean of CUHK Business School and Director of CUHK MBA Programmes. ‘The donation reflects Professor Liu’s faith in enduring the value of executive education and his confidence in our University. What is also very special about this donation is the story of Professor Liu. His education in China and overseas, as well as his extraordinary career and achievements, speak volumes to Professor Liu’s courage and fortitude. Giving back in the way he has through philanthropy also speaks in equal measure to his values.’
Emilio Botín, Chairman of Banco Santander said, ‘Universities are basic pillars for a country’s economic and social progress. Our institutional commitment to universities represents one of the hallmarks of Santander’s identity. We are very proud of the collaboration with K Foundation and CUHK in supporting talented students and bankers, who will have the privilege to receive quality executive education in finance at CUHK through its MBA programmes and the Advanced Programme on Basel III for Central Bankers and Regulators.’
Prof. Liu added, ‘The MBA Program offered by the CUHK Business School is one of the leading MBA programs in the world. We believe our scholarship winners will benefit from the comprehensive knowledge provided by the CUHK MBA programmes.’
About CUHK Business School
CUHK Business School comprises two schools – Accountancy and Hotel & Tourism Management – and four departments – Finance, Decision Sciences & Managerial Economics, Management, and Marketing. It is Hong Kong’s first business school to offer MBA and EMBA courses. Today, the school offers 10 undergraduate programmes and 31 graduate programmes (10 MBA/EMBA; 15 Master, MSc and MPhil; 6 PhD).
In the Financial Times’ 2013 global MBA rankings, CUHK’s MBA program is ranked No. 27. In its 2012 global EMBA rankings, CUHK’s EMBA program is ranked No.17 and its OneMBA program is ranked No. 24 in the world. CUHK has the largest number of business alumni (26,000+) in Hong Kong – many of whom are key business leaders. The faculty currently has more than 4000 undergraduate and graduate students. Professor Tak-Jun Wong is the Dean of CUHK Business School.
About K Foundation
The K Foundation was founded by Prof. Liu Ming-kang in year 2012 and is a charitable institution that has been granted tax exemption status under section 88 of the Inland Revenue Ordinance in Hong Kong. Prof. Liu has spent over thirty years working in the banking industry in China, including the Bank of China, the State Development Bank, as well as the People’s Bank of China. He served as Chairman of the China Banking Regulatory Commission from its creation in 2003 until his retirement in 2011. Prof. Liu also sits on the International Advisory Boards of the Guanghua Management School of Peking University and of the School of Economics and Management of Tsinghua University, and is the honorary Dean of the Lingnan (University) College of Sun Yat-sen University in Guangzhou. Prof. Liu is the Distinguished Research Fellow at the Institute of Global Economics and Finance of CUHK and Fung Global Institute.
About Santander Universities
Through its Santander Universities Global Division, Banco Santander has collaborated with universities for more than 15 years on a unique global initiative which distinguishes it from other national and international banks and financial institutions. The bank supports the Higher Education sector in such areas as teaching and research, international cooperation, knowledge and technology transfer, entrepreneurial initiatives, student mobility and innovation. Santander Universities Global Division maintains a stable alliance with nearly 1,040 academic institutions from all over the world. Santander Universities is already collaborating with 8 Chinese Universities and Higher Education Institutions.
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone by market capitalization. Founded in 1857, Santander had EUR 1.342 trillion in managed funds, 102 million customers, 14,680 branches – more than any other international bank – and 186,785 employees at the close of June 2013. It is the largest financial group in Spain and Latin America. It also has significant positions in the United Kingdom, Portugal, Germany, Poland and the northeast United States. In the first half of 2013, Santander registered EUR 2,255 million in attributable profit, an increase of 29% from the same period of the previous year. The history of Santander in China dates back to 1993 when the bank opened its first representative office in Beijing. Today, apart from Beijing, Banco Santander has a branch in Shanghai and a branch in Hong Kong, which serves as the operational hub of the bank in Asia-Pacific. Branches and representative offices are also established in Singapore, Tokyo, Seoul, and Sydney.