A campaign to raise half a million dollars for a chair in financial management education at Memorial’s business faculty has successfully reached its target.
Through corporate and private donations, $508,657 has been raised for the Dr. Alex Faseruk Chair in Financial Management Education at the Faculty of Business Administration.
The chair honours the contributions of Dr. Alex Faseruk, who retired in 2014 after 34 years with the faculty. The fund will allow the business faculty to recruit a leader in financial management education to continue Dr. Faseruk’s legacy.
Brian Groves, a partner and marketplace leader at Deloitte who graduated with a bachelor of commerce degree in 1996, chaired the fundraising committee. He says he was inspired to get involved because of Dr. Faseruk’s influence on his career.
“Dr. Faseruk will not be easily replaced.”
“A degree from the faculty is what kick-started my career and I found it only fitting that I give to this campaign given the personal connection I had with Dr. Faseruk when I was a student,” he said. “Dr. Faseruk will not be easily replaced. However, it is my hope that this fund will help attract a professor of his calibre.”
Dr. Faseruk was admired for his enthusiasm in developing financial management expertise in his students. A 3M National Teaching Fellow, Dr. Faseruk received 24 teaching honours during his time with the faculty, including the President’s Award for Distinguished Teaching, National Post’s Leaders in Management Education, a Distinguished Teaching Award from the Academy of Finance and a Beta Gamma Sigma Leadership Award.
For more than 25 years, he coached Memorial teams in national and international case, paper-writing, stock market and entrepreneurial competitions that resulted in students winning close to 200 awards, including more than 50 first places. He was recognized as an outstanding coach by the John Molson International MBA Case Competition and the Intercollegiate Business Competition.
Dr. Faseruk also produced more than 100 scholarly works and served on the editorial board of three journals. He was the first Canadian to hold the position of president-elect for MBAA International.
Reputation for excellence
As a direct result of his influence, the business faculty developed a reputation for excellence in financial management education and producing graduates who would become leaders in the investment and financial management sectors.
“This seemed like an opportunity to put donation dollars to a particular meaningful project that would have a direct impact on students.”
“I highly value both the education I received at Memorial and my seven years living in Newfoundland and Labrador,” said Siobhan Monaghan (B.Comm. (Hons.) ‘81), who donated to the campaign. “This seemed like an opportunity to put donation dollars to a particular meaningful project that would have a direct impact on students. While buildings and infrastructure are obviously important to university life, what really makes a university experience memorable is the quality of the learning experience. That is most significantly shaped by the individuals who teach, collaborate and guide the students.
“The teaching chair will provide Memorial with the opportunity to attract leaders in the field who, by sharing their knowledge and experience, will enrich the students’ learning and research experiences. It is a win-win!”
Leader, mentor, innovator
A search for the chair is currently underway. The successful applicant will contribute to both graduate and undergraduate teaching programs, lead the development of curricular innovation in finance, capitalize on the White Trading Lab at the business faculty and serve as an advisor to a student-managed investment fund.
The chair will be expected to provide mentorship to junior faculty in teaching and research, maintain an active research program and collaborate with disciplines inside and outside the faculty, including accounting and economics. He or she will be an experienced and effective teacher and an accomplished scholar with a national or international reputation. The successful applicant will have shown pedagogical leadership through, for example, developing curriculum and co-curricular supports for financial management education, supporting student teams, clubs and groups, contributing to the scholarship of teaching and introducing teaching innovations at the course and program level.
“We are delighted that the fundraising campaign for the Dr. Alex Faseruk Chair in Financial Management Education has been successful,” said Dr. Wilfred Zerbe, dean of the business faculty. “We are grateful to all of the people and organizations that generously donated to this campaign, which will allow us to continue growing our reputation for financial management expertise.
“Furthermore, I would like to extend a special thanks to our fundraising committee for all their hard work. Together, the support we received will help us to ensure that students at Memorial University will have the best financial management education we can offer, and that our graduates continue to become leaders in the field. Through this chair, we can continue to meet our obligations to the people of the province by providing them with the best education possible.”