Seasons Greetings! Wishing you the joy of family,
the warmth of friends and the gifts of laughter, peace, and love.
Archives for December 2016
Rosaire Couturier: A Canadian Pioneering Initiative
Dalhousie: The First to Offer a Graduate Degree in Financial Services
“At the time, the only mention of banking in university curriculum was in macro economic course on Money and Banking. It focused primarily on monetary policy.” Rosaire Couturier
The MBA (FS) is the culmination of efforts to improve the professionalism in the banking profession which was the mandate of the Institute of Canadian Bankers. I came to the ICB from Academia (Associate Dean at Laval’s Faculty of Administrative Sciences). At the time, the only mention of banking in university curriculum was in macro economic course on Money and Banking. It focused primarily on monetary policy.
The absence of a university level domain of studies focusing on one of the key service sector of the Canadian economy needed to be addressed.
It took more than fifteen years to achieve what may reasonably be termed a breakthrough, and Dalhousie was the very first Canadian University to establish a graduate level degree program as part of the Faculty of Business curriculum. Professor Ray Klapstein championed the initiative through the university’s program approval process.
“Without the foresightedness of Prof Klapstein, the program would have been launched in partnership with the Manchester University’s Business school.”
At the time the ICB had invested in the development of industry specific course content with the help of university professors. The courses were part of the Professional Banking Management Program at the ICB comprising five courses and leading to the industry designation of Fellow of the Institute of Canadian Bankers (FICB).
It took more then ten years before a university agreed to credit the Institute’s program towards a degree. The MBA (FS) was structured around core courses which the University offered in its regular MBA program and a specialisation which in this case could be credited for those who completed the FICB.
If I recall he had a semester (three months) to get it done and I would hold off signing with Manchester.
Without the foresightedness of Prof Klapstein, the program would have been launched in partnership with the Manchester University’s Business school. I was about to sign a Memorandum of Understanding to that effect when Professor Klapstein (who was aware of my on-going efforts to get ICB program credited by a (any) Canadian University without success) asked to see me and to delay signing up with Manchester because he felt he had a good chance of getting an MBA(FS) approved by the University. If I recall he had a semester (three months) to get it done and I would hold off signing with Manchester.
The rest is history and to my knowledge Dalhousie was the first University to offer a graduate degree in financial services in the world. Since then other have followed suite, for example, the MBA- FSI in Europe, a joint undertaking by the Vlerick Business School (Belgium and University of St Gallen (Switzerland) is in its 10th edition.
“The rest is history and to my knowledge Dalhousie was the first University to offer a graduate degree in financial services in the world.” Rosaire Couturier
Ray Klapstein: Before there were Students, there was an Idea
A Banff Winter
“During our dinner conversation, he told me that the ICB was about to enter an agreement with a British school (the name of which I don’t remember) to establish an MBA program tailored for the banking industry. I got upset!” Ray Klapstein
In December, 1994, I was in Banff teaching the Law course in the Professional Banking Program for the Institute of Canadian Bankers. The Director of the program at the time, Jacques Vanier, came to introduce me to the class and open the course. He took me out for dinner at a restaurant in town. During our dinner conversation he told me that the ICB was about to enter an agreement with a British school (the name of which I don’t remember) to establish an MBA program tailored for the banking industry. I got upset! I asked why the Institute would do that with a non-Canadian university. He told me none were interested. I asked if Dalhousie had been considered. He told me that it had not been asked – apparently Rosaire Couturier, the Institute’s CEO (whom I’d met but hadn’t yet really gotten to know) had discussed it with Saint Mary’s (and others) and been rejected – apparently, the logic was that surely if Saint Mary’s wasn’t interested, Dalhousie wouldn’t be. I suggested that was an unfair conclusion, and said “let’s design a program right now.” We did, on the back of a paper placemat, while enjoying a glass of port. The design was simple – a full slate of Dalhousie core MBA courses with the ICB’s PBP courses treated as the electives, forming an MBA program with a specialization in banking.
“I suggested that was an unfair conclusion, and said “let’s design a program right now.” We did, on the back of a paper placemat, while enjoying a glass of port.”
I was just a lowly Associate Prof at the time, with no experience in designing and securing approval of a new program – naïve and ignorant. Given that, I resolved to present the concept to our President, Tom Traves (whom I had yet to meet), thinking if he thought it was a good idea, I’d work on it; if he didn’t, I wouldn’t waste my time and energy.
“When I was done, he pointed to the door. My first thought was that I was being told to get out…”
In early January, 1995, I made an appointment and went to see him. I introduced myself and told him I had an idea for a new MBA program. I told him about the ICB, and gave him the details about the nature and quality of the PBP, being careful to explain that it was designed as a set of MBA level courses, developed and delivered by top-notch and well qualified faculty members from a collection of Canadian university business schools. When I was done, he pointed to the door. My first thought was that I was being told to get out, but then he said “Do it. If you need anything from me, let me know.”
“Rosaire did, though, open a window – he said he’d delay signing the agreement with the British school for 3 months; if I could get the program approved at Dalhousie in that time, he’d sign with Dalhousie instead,”
With the President’s support in hand, I contacted Rosaire. He wasn’t enthused, but said he’d be willing to meet with me. I flew to the ICB’s head office in Montreal (at my own expense, I might add). I had a meeting with Rosaire and his No. 2 at the time, Peter Casquina. My personal conclusion resulting from that meeting was that they liked the idea, but didn’t believe it could be implemented, given the lengthy and detailed program approval processes at Canadian universities and the typical academic snobbery with which they viewed industry-based professional programs. Rosaire did, though, open a window – he said he’d delay signing the agreement with the British school for 3 months; if I could get the program approved at Dalhousie in that time, he’d sign with Dalhousie instead. He wished me good luck and asked me to keep him posted.
I came back to Dalhousie, called Tom Traves and updated him. He said WE are going to have to give this top priority and reminded me that he was there to help. I met with our Dean, Phil Rosson, and gave him the full story. He got excited and was immediately on board. We established a committee within the Business School, designed the program and its Dalhousie components, had internal subject-matter experts assess the PBP courses, and secured all the necessary approvals at the School and Faculty levels within the 3 months. But a lot remained to be done – a host of approvals within the University, plus MPHEC.
“Being emboldened, I then explained that we were going to need financial help from the ICB, given the course development costs we were facing. On the spot, he (Rosaire) said the ICB would help out with $10,000 per course.”
I contacted Rosaire and gave him a full progress report. He was obviously both pleased and impressed. He seemed to forget his 3 month deadline. He asked when final approval was expected. I told him that President Traves had told me that he was optimistic about completing the internal processes (including Senate approval) by the end of the summer. Rosaire was happy with that. Being emboldened, I then explained that we were going to need financial help from the ICB, given the course development costs we were facing. On the spot, he said the ICB would help out with $10,000 per course.
As they say, the rest is history. MPHEC approval came in the fall of 1995, and the first students entered the program in 1996. There were many other landmark achievements to come, but those are stories for another time.
I firmly believe that the reason this came to fruition the way it did is actually very simple: everyone involved believed in it and all involved (most notably Rosaire Couturier, Tom Traves, and Phil Rosson) were always as good as their word – commitments given were always commitments fulfilled.
“There were many other landmark achievements to come, but those are stories for another time.” Ray Klapstein
Commitments Given – Commitments Fulfilled
Dalhousie Faculty of Management
There are five elements of a short story: character, setting, plot, conflict, theme. I would like to add a sixth element: celebration.
This year, CFAME is celebrating the 20th anniversary of the MBA (FS). Graduates came together on November 30th to remember and reconnect. Many stories were told that night, but there was one narrative, shared by two men, that embodied the best of the five elements. Without these two men, there would be no celebration or memories, no reason to meet at 6100 University Avenue, Halifax and no MBA (FS) offered by Dalhousie University.
In upcoming posts, Ray Klapstein and Rosaire Couturier, will recount the genesis of the MBA(FS).
“I was just a lowly Associate Prof at the time, with no experience in designing and securing approval of a new program – naïve and ignorant. Given that, I resolved to present the concept to our President (Dalhousie), Tom Traves (whom I had yet to meet) …” Ray Klapstein
“It took more than fifteen years to achieve what may reasonably be termed a breakthrough, and Dalhousie was the very first Canadian University to establish a graduate level degree program as part of the Faculty of Business curriculum.” Rosaire Couturier
“Everyone involved believed in it and all involved (most notably Rosaire Couturier, Tom Traves, and Phil Rosson) were always as good as their word – commitments given were always commitments fulfilled.” Ray Klapstein
Next post: Before There were Students, there was an Idea
What’s in a Name?
6100 University Avenue
Branding is the art of engaging an individual in the emotional appeal of a name. “What’s in a Name?” is a fundamental question facing organizations seeking to differentiate their product or service. Selecting and maintaining a robust brand name, combines the disciplines of science and psychology, which work together to convey ideas such as excellence, trustworthiness, and integrity. A name carries an embedded promise that transcends the life-cycle of a product or service.
CFAME has the qualities of a resilient brand. But it has a history that only those who were at the beginning remember. Did you know that in 1996, CFAME was simply known as the MBA (Financial Services) office? It wasn’t until 2000, when the MBA (FS) team joined forces with the MPA(M) and MBA (IT) teams under one roof that a search for a new name began.
As Michelle recalls, “well, to be honest, we were always under one roof – but in different locations in the Faculty of Management building – so we needed a name to identify our new department. Because we were one of the only departments that offered off campus graduate programs, the name Office of External Graduate Programs (OEGP) came to life.”
Office of External Graduate Programs, as a brand, had a place for a time. Many graduated under the banner of OEGP. But times change and events create opportunities to revisit the name. Dalhousie had other programs that offered off-campus graduate programs. Even more challenging, OEGP was being confused with the Office of External Relations which offered non-graduate studies, workshops and professional education.
As the year 2005 approached, the quest for new name was launched. In March 2005, CFAME came into being. The Centre for Advanced Management Education was the outcome of a united decision of all stakeholders.
The idea of brand and names will continue to be a talking point going forward. There may come a day when CFAME’s name will encounter a new iteration. But until that time, what endures is a vibrant history that belong to all graduates.
Stay tuned for the next post: Commitments Given – Commitments Fulfilled