Contact: Charlotte Tomic, 718/990-6364
St. John's University officials announced today the establishment of the Financial Services Institute in the College of Business Administration, which will prepare men and women for careers in the global financial services sector as well as expand the knowledge and skills of individuals already working in the industry. Larry Boone, Ph.D., Acting Dean of St. John's College of Business Administration, said, "The financial services industry -- already one of the most important and fastest growing industries in the United States -- will continue to grow as restriction to competition among banks, insurance companies and securities firms are removed and the world moves to free market economies. Through courses, seminars, conferences and publications, the St. John's University Financial Services Institute will serve the industry as a pre-eminent educational and research facility and play a significant role as the industry evolves."
Business school education has traditionally focused on specific disciplines such as accounting, management and marketing. At the same time, financial services companies have been defined by function, such as banking, securities and insurance. This Institute will take a holistic approach to the industry, providing interdisciplinary education and training in financial services, with students receiving a broad understanding of how these different financial service businesses operate and inter-relate. In addition, Executive Education and Financial Services Certificate programs will be offered to business professionals in the field seeking to expand their knowledge and earn a competitive edge.
Donald R. Pitti, Founding Director of the St. John's University Financial Services Institute, said, "One-stop shopping for financial services will become more than a slogan as increasing numbers of banking, insurance, investment and securities firms come under the same holding company umbrella. Those who know how to manage these new entities will be the leaders of this new financial services industry. St. John's, through the Institute, will provide them with the tools they need to succeed."
With thousands of St. John's alumni working in a wide range of financial organization in New York and around the world, it is natural for the University to take a leadership role in recognizing changes in the financial services industry and in providing educational opportunities and solutions to accommodate them. One of the expected outcomes of the new Institute is the creation of a broad financial services industry network consisting of St. John's alumni and others involved in the field, particularly in the New York area, as well as University faculty and students. In addition to the academic programs and activities noted above, the Institute will offer consulting services and career counseling for students and alumni who are pursuing careers in financial services. The College of Business Administration has 35,000 alumni.
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