Barclays, Chicago Booth team up on scholarships

Chicago Booth is creating the Barclays Global Retail and Commercial Bank fellowship program, which will provide full-tuition scholarships each year to four incoming M.B.A. students from Africa, South Asia and countries with emerging economies.

Preference for the merit-based, two-year scholarships will be given to students who intend to pursue careers in the financial services sector and who demonstrate a commitment to the development of emerging markets.

“While the Barclays fellowships will be awarded based on merit, it should be noted that, in general, M.B.A. candidates coming from such regions of the world as Africa are in great need of financial assistance,” said Rosemaria Martinelli, Associate Dean of Student Recruitment and Admissions at Chicago Booth.

“Often these candidates earn low annual salaries in their countries by U.S. standards, and scholarships drive the choice of schools for these students,” she said.

“The introduction of a fellowship program for these students as opposed to a scholarship program is significant, because it presents the opportunity for mentoring and enhanced professional development,” said Stacey Kole, Deputy Dean for the full-time M.B.A. program.

Barclays will assign mentors who will provide added insights about career opportunities in the banking industry, and advisors who can be tapped, in parallel to the M.B.A. experience, said Kole, who also is a Clinical Professor of Economics at Chicago Booth.

In addition to mentoring, summer internships also will be available, she said.

“Investing in an individual’s education is not just about donating money,” said Frits Seegers (M.B.A.,’89), chief executive of Barclays Global Retail and Commercial Bank. “It’s also about investing the time of our staff and passing on our experience and skills to help others. At the same time, Barclays gets the benefit of talented people with superior education to increase our global footprint and capabilities.”