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 UMD News Releases

Communication Associate: Public Relations | Lori Melton | | (218) 726-8830

February 24, 2012
Susan Banovetz | Director of External Affairs | 218 726-6141|
Christiana Kapsner | UMD Public Relations Assistant | 218 726-8830 |

UMD Program Strengthened with $75,000 Wells Fargo Gift

Representatives from Wells Fargo announced a gift of $75,000 from Wells Fargo Bank Duluth to support the Financial Markets Lab in the UMD Labovitz School of Business and Economics (LSBE). The gift maintains the strong relationship between Wells Fargo Duluth, UMD and LSBE, and the lab will continue to be named the Wells Fargo Financial Markets Lab.

The Financial Markets Program is one of the largest undergraduate student-run funds in the country, with close to $500,000 in assets.

"Wells Fargo has supported our Financial Markets Program from day one," said LSBE Dean Kjell R. Knudsen. "This continued 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.

"This collaboration is a great way for us to show our support of UMD, and will help train students for the future," said Scott Bradt, Duluth Business Banking President and Northern Minnesota District Manager for Wells Fargo. "We enjoy teaming up with UMD and working with these bright, young minds."

The Financial Markets Program allows students to apply fundamental, technical and quantitative analysis techniques and encourages them to develop their own methodology towards analyzing the financial markets. Participating UMD students 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.

"UMD has created an innovative, hands-on learning program that is developing the next generation of investment managers and business leaders," said Joe Dusek, Senior Vice President and Regional Brokerage Manager, Wells Fargo Private Bank, Duluth. "By supporting this program, we're supporting the young men and women who are so vital to the economic future of the Northland and Minnesota."

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