Twenty-One Bank Professionals Receive DePaul University MBA Degrees in Hong Kong Through IBA/DePaul Education Partnership

Business Wire, Dec 14, 2002

Business Editors/Education Writers

CHICAGO--(BUSINESS WIRE)--Dec. 14, 2002

DePaul University of Chicago and the International Bank of Asia (IBA) in Hong Kong held a commencement ceremony Dec. 14 in Hong Kong for 21 graduates of DePaul's third in-house Master's of Business Administration (MBA) program offered at the bank. James Keith, consul general of the United States for Hong Kong, delivered the commencement address.

The IBA/DePaul education partnership started in 1997 and was expanded with the introduction of a bachelor of arts degree program in 1998. To date, more than 70 IBA staff members have graduated from the DePaul program. The bank devotes an entire floor of its headquarters building in Central Hong Kong to provide an auditorium, faculty office and library for the program.

"We are proud that IBA is the first bank in Hong Kong to take the initiative in providing a free MBA program for its staff," said Mike Murad, vice chairman, managing director and chief executive officer of IBA, who also is a DePaul trustee. "At a time of increasing competition, this program gives staff tools to maximize performance and contribute fully to the bank's success. It is part of our commitment to life-long learning. We are glad to see our staff benefit from DePaul's comprehensive training. The graduates not only are better equipped to deal with the challenges of the New Economy, but also they have gained the confidence to address all issues in their lives. DePaul is an ideal partner in our education effort."

"Not only have the graduates gained valuable knowledge, but also our faculty benefit from a deeper understanding of the global economy, which enriches our curriculum in Chicago," said the Reverend John P. Minogue, C.M., DePaul president. "I want to congratulate all of the graduates. It remains a great privilege to work with Mike Murad and his colleagues."

DePaul's MBA program is accredited by the Association to Advance Collegiate Schools of Business - International (AACSB) and the North Central Association of Colleges and Schools (NCA). The program in Hong Kong is taught in 16 modules by DePaul professors, who travel from Chicago to teach each course on-site. DePaul's part-time MBA program is ranked fourth in the United States by U.S. News & World Report.

IBA is a full service banking corporation in Hong Kong providing a wide range of financial services through a network of 36 outlets, including Superbranches, Wealth Management Centers and Consumer Finance Centers, as well as ATMs at IBA branches and major shopping centers, PhoneBanking, and e-banking at www.iba.com.hk. IBA is listed on the Stock Exchange of Hong Kong and is rated A-3 short term, BBB long term by Standard & Poor's.