Nomura Securities Co. Ltd. has pledged $2 million to Columbia Business School to endow the Nomura Professorship of International Finance.
Hideo Sakamaki, Nomura president and chief executive officer, visited New York Oct. 5 to formalize the agreement in a signing ceremony at the Business School attended by President Rupp, Columbia Business School Dean Meyer Feldberg and faculty and students.
"This generous gift cements one of our most important global relationships," said Feldberg. "Columbia Business School's strength in international business and finance is a distinguishing feature of its research and teaching programs. The prestigious Nomura Chair in international finance will enable the school to recruit a stellar academic."
Columbia Business School will launch a worldwide search for a scholar of international stature with expertise in the areas of security analysis, investment banking and the globalization of financial markets. The professor will teach courses across the M.B.A., Ph.D. and Executive Programs and will build upon existing relationships with executives of the firm to discuss research or other issues of interest to Nomura.
"As the role and importance of Japan in the world economy continues to grow, students who study at Columbia Business School benefit from Columbia's international preeminence, its vast resources in Asian studies and its distinction in business and finance," said Sakamaki. "We feel that the establishment of the Nomura Professorship of International Finance adds another dimension, enabling Columbia and Nomura to work together to promote knowledge and excellence, to foster contacts and exchanges on many levels and to contribute to the development of management expertise."
Among Columbia Business School's many prominent alumni are a number of senior executives and board members at Nomura, including Hitoshi Tonomura ('64), executive vice president, Katsuya Takanashi ('69), executive managing director, and Max C. Chapman, Jr. ('69), co-chairman and co-CEO of Nomura Holding America Inc.
"Given the pace and scope of business today, comprehensive knowledge about international business and the financial climate in which it operates is an imperative tool," said Chapman.
"The Nomura Professorship will enhance the value of Columbia Business School graduates immeasurably. I'm proud to be a part of two organizations which continually demonstrate a commitment to furthering the quality of management education."
Nomura is one of the world's largest brokerage and investment banks. Through its worldwide network, it advises companies, governments and global financial institutions on a wide range of financial and strategic issues including banking, asset management, leveraged leasing, real estate and mergers and acquisitions.