Wharton, Shanghai Advanced Institute of Finance Unveil New Course for Senior Execs
Yicai Global
DATE:  Mar 13 2019
/ SOURCE:  yicai
Wharton, Shanghai Advanced Institute of Finance Unveil New Course for Senior Execs Wharton, Shanghai Advanced Institute of Finance Unveil New Course for Senior Execs

(Yicai Global) March 12 -- Shanghai has become the fifth-largest international financial center in the world. In order to cultivate more talent in the sector, the Shanghai Advanced Institute of Finance at Shanghai Jiao Tong University and Wharton School at the University of Pennsylvania unveiled a joint course in advanced financial management in the city over the weekend.

Shanghai has replaced Tokyo as the world's fifth-largest international financial hub, according to a global index released by British think tank Z/Yen Group and the China Development Institute at the end of last year.

Statistics show that Shanghai had over 360,000 employees working in finance last year, making up just 3 percent of the city's total employed population. The figure is 5 percent in Hong Kong and Singapore, 10 percent in New York and 25 percent in London. Shanghai still has a large financial talent void and the city is struggling to keep up with the rapid development of its financial sector.

The Shanghai Municipal Government has always worked hard to develop financial talent. Shanghai Jiao Tong University set up the SAIF in 2009, aiming to make a first-class international business school that can train the high-end talent required for Shanghai to become a leading international finance hub and serve as a high-end think tank. The SAIF developed a long-term partnership with Wharton last year.

The SAIF and Wharton integrated their teaching resources to develop the course, named Advanced Financial Professional. The course combines advanced international research with Chinese practices. As Wharton's first top financial management course in China, the AFP program will not only give students a complete knowledge of the financial world, but also integrate cutting-edge studies with experts' experience. It will give students a dual-school qualification and alumni will rank among the top 100,000 talents in the industry worldwide.

Wharton Dean Geoffrey Garrett, Vice Dean Jagmohan Raju and SAIF's Academic Committee Chairman Wang Jiang, Executive Dean Zhang Chun and Vice President Yan Hong, also of the China Academy of Financial Research, attended a ceremony to unveil the course on March 9.

"In the fact of competition from outstanding overseas financial institutions, complicated political and economic situations at home and abroad and the slowing domestic economy, China's corporate decision makers and core executives must build a complete cutting-edge financial knowledge system with an international perspective if they are to remain competitive in this challenging market environment," Yan said at the event.

The SAIF is a solid Chinese partner of Wharton. Wharton hopes to approach more top Chinese managers through courses like AFP, added Garrett. The two schools will explore their respective advantages and create new courses, he continued, saying that Wharton will adopt more Chinese practices and enlighten Chinese colleges to help them stay at the forefront of the world and improve corporate development in the country.

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Keywords:   SAIF,Wharton Business School,Lujiazui,Shanghai