The Cave Hill School of Business (CHSB) and Sagicor Financial Corporation have signed a five-year memorandum of understanding (MOU) that will soon result in the renaming of the learning institution.
The MOU will also result in Sagicor providing funding to CHSB for capacity building and research in the field of business education.
Speaking during the official signing of the agreement today at the CHSB, president and chief executive officer of Sagicor Life Inc. Patricia Downes-Grant explained that “various tiers of study programmes, scholarships and research findings” should also be realized during the life of the MOU and beyond.
Chief executive officer of the CHSB Dr Jeannine Comma said it was critical for the learning institution to form partnerships and have an enabling environment in order to
grow and develop.
“By signing this agreement the Sagicor Financial Corporation is demonstrating, in a tangible way, its interest in providing opportunities that are of benefit to the ongoing development of leaders, managers and all persons in the private and public sectors in the region,” said Comma.
“Specifically, the endowment received under this collaboration will see the renaming of the Cave Hill School of Business to include Sagicor. The actual initiative to recognize and celebrate the renaming will come at a later date as once this MOU is signed then we will take it through to the various committees at the UWI where it will be formally approved. But trust me it has been approved, the principal has approved it. Further, the support shall be utilized for professional and executive education and developmental initiatives executed by the school.”
The CEO said these initiatives would include programme redevelopment, applied research, scholarships for Sagicor’s staff to participate in CHSB’s academic programmes, as well as the creation of a corporate university, exclusively for the company.
“Additionally, we talk a lot about the importance of private-public partnerships to clarify the functioning of both sectors. The school believes this endowment also strengthens its resolve to further entrench its public sector outreach to contribute to building the bridge for more strategic partnerships of the two sectors,” Comma added.