Tuesday’s Headlines: MBAs Learn from Developing World Programs

Top MBA programs and employers now require or offer study and training programs in developing nations, according to a Fortune magazine article. Wharton recently led a group of 26 students to Rwanda where they studied the economic and political changes the country has undergone in the past 20 years. Since 2011, Harvard Business School has required all 900 of its incoming students to do a field emmersion course in one of 11 developing economies.

According to Fortune, students at several other business schools, as well as employees at large organizations, are also looking to the developing world to hone their skills by looking at how lessons learned in the classroom or boardroom hold up in the extreme situations of civil war, poverty and limited resources. Besides the exposure to the raw and evolving lessons of emerging economies, countries like Rwanda offer access to executives and political leaders that would be impossible to find in London or Berlin.

 

Other News:

Goldman is seeking outside investors for its REDI Technologies trading-software business. [Businessweek]

UBS’s Q4 profit falls 76 percent on IB losses. [NY Times]

Citi will cut IB bonuses by 30 percent. [Bloomberg]

Credit Suisse’s senior bankers compensation fell by 30 percent. [Businessweek]

UBS issued a gloomy 2012 outlook. [Financial Times]

Glencore agreed to buy Xstrata in a deal that would create a company valued at $90 billion. [DealBook]

The Glencore merger was opposed by Xstrata shareholders. [Reuters]

Australian investment bank Macquarie expects earnings for the year ended March 31 to fall 25 percent. [Bloomberg]

National Australia Bank’s Q1 cash profit climbed 7.7 percent as it increased lending. [Bloomberg]

Guggenheim Partners is among the companies preparing to bid for Deutsche's asset management divisions. [Investment News]

Several hedge funds have emerged from the red in 2012. [Reuters]

JPMorgan Chase agreed to pay a $110 million settlement for charges over gouging customers on overdraft fees. [Bloomberg]