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ESMT Spends To Attract Top Professors To Berlin

Corporate founders promise an extra €50 million to school

Germany’s up-and-coming technology-focused business school continues its expansion with a €50 million funding injection from the country’s corporate giants.

The Trustees of the European School of Management and Technology (ESMT), which include big German names like Allianz, Deutsche Bank and BMW, and international firms like KPMG and McKinsey, agreed to provide the extra funds.

The funding brings new financial support for ESMT since 2009 to €70 million.

Top of the spending list is expanding the School’s international faculty. The School announced something of a hiring spree earlier this month, at least relative to its current small number of professors. Three new people joined, including one professor who will divide his time between ESMT and Stanford.

In addition to the €50 million financing, six chaired professorships have been funded.

ESMT was founded by 25 German companies in 2002. Head-quartered in Berlin, graduates of the private university have access to scholarships from and networks within most of the founding firms.

"The founders of ESMT, representing a major part of German industry, will support ESMT’s growth with additional funds, acknowledging the progress of the school and its prospects," said Dr. Josef Ackermann, Chairman of Deutsche Bank and Vice Chairman of the ESMT Foundation Board of Trustees.
 

Comments.

Tuesday 28th September 2010, 19.21 (UTC)

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impressive, what are they spending the 50 mil on? seems a lot for a relatively small institution. interestinf corporate sponsors

Tuesday 28th September 2010, 19.52 (UTC)

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Great! An extra €50 million! I guess they will spend a lot on facilities, upgrading the entire systems, stock more academic databases and resources, etc. I am sure they will make great use of the €50 million to make it comfortable for all professors and also students as well. Quite exciting!

Wednesday 29th September 2010, 00.09 (UTC)

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could be jobs in banking in germany yet? ackermann wants to expand db's retail business http://online.wsj.com/article/SB10001424052748704523604575511712005520190.html

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