Royal Bank of Canada (RBC) and UTS Business School have formed a new partnership that will advance diversity in the finance sector, announcing two scholarships to be offered to female students from 2015.
RBC is one of the largest banks in the world, and Canada's leading bank by market capitalisation. It has been present in Australia for more than 30 years, employing about 300 staff in Sydney and Melbourne in its Capital Markets and Investor & Treasury Services business segments. UTS Business School is one of Australia's leading business schools and ranked in the top 100 globally for Accounting and Finance in the QS World University Ranking for 2014.
Under the new partnership, an undergraduate scholarship from RBC will provide a high-potential female student with $5000 a year for the second and third years of their studies. A separate honours scholarship will provide $5000 support to enable an outstanding female student to complete a year of higher-level studies.
In total, the scholarships will be worth $40,000 over three years. The successful applicants will also be invited to undertake an internship with RBC to gain first-hand experience of a career in the finance sector.
"RBC has a global commitment to fostering workplace diversity and supporting women in the banking and finance industry. Through this partnership with UTS, we aim to recognise and reward outstanding candidates," RBC's Head of Operational Risk Analysis and Management, Asia Pacific, Jo Tornatore-Gallo, says.
The Head of the Finance Discipline Group at UTS Business School, Gerhard Van de Venter, says scholarships allow students to concentrate on their studies. "But it's also important that students, and the general community, are aware of the important role of international banks in Australia's finance sector," he says.
The scholarships will also help address concerns about the number of women taking up careers in finance. "It is great to see banks partnering with the universities to provide scholarships," says Amanda Dobbie, chief executive of Women in Banking and Finance. "This aligns with WiBF's focus on pipelining women undergraduates and with our CEO Forum initiative."
The Dean of UTS Business School, Professor Roy Green, says partnerships such as those with RBC support the School in its mission of delivering innovative, practical and equitable education to produce graduates with the attributes employers seek in a global workplace.
"It's important for universities and business to work together in shaping business and finance education and in advancing career opportunities for young people," he says.
The undergraduate scholarships will commence from second year so all first-year students have an equal opportunity to prove themselves, no matter their path into university. Also, students at UTS Business School decide their major from second year, when they have a clearer idea of their likely career path.
For information on scholarships at UTS, visit the scholarships search page.
- One of the largest banks in the world, Royal Bank of Canada, is partnering with UTS Business School to offer two new scholarships to female students
- An undergraduate scholarship will provide a high-potential female student with $5000 a year in their second and third years of study and a separate honours scholarship will provide $5000 to support a year of higher-level studies