Chancellor Kathryn A. Martin, University of Minnesota Duluth (UMD), has announced a gift of $265,250 from Wells Fargo Bank Duluth to support the Financial Markets Lab in the Labovitz School of Business and Economics (LSBE). "I'm pleased that UMD can once again partner with a company of the stature of Wells Fargo," she said. "Great corporate relations, such as this one, add strength to UMD programs."
The gift maintains the strong relationship between Wells Fargo Duluth and UMD, and the lab will continue to be named the Wells Fargo Financial Markets Lab. "Wells Fargo has supported our Financial Markets Program from day one," said Dean Kjell R. Knudsen of the Labovitz School of Business and Economics, "and this five year commitment is a tremendous boost to our program." In addition to Financial Markets Program funding, Wells Fargo will offer three paid summer internships and additional practicum opportunities for LSBE students.
"It is important to all of us at Wells Fargo to continue our collaboration with UMD's Labovitz School of Business and Economics and our work with the bright, energetic students who participate in the Financial Markets Program each year," said David Bue, Community Banking district president for Wells Fargo in Duluth. "By supporting the Financial Markets Lab, we're backing an innovative, hands-on learning program that's developing the next generation of great investment managers and business leaders vital to the economic future of the Northland and Minnesota."
The LSBE Financial Markets Program is a non-traditional learning environment, which offers students the opportunity to apply fundamental, technical, and quantitative analysis techniques, and encourages them to develop their own methodology towards analyzing the financial markets. "We have both benefited from this relationship and look forward to its progress in the years ahead." said Joe Artim, director of the UMD Financial Markets Program. Participating UMD students will have the opportunity to analyze the financial condition of businesses, evaluate the opportunity to invest in publicly traded stocks, make presentations to an advisory board of industry professionals, and actually invest in and manage an investment fund.
The Financial Markets Program at UMD is one of the largest undergraduate student-run funds in the country with close to $500,000 in assets.