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Dalhousie and RBC unveil National Risk Management CentreHalifax,
Nova Scotia, June 16, 2004 - Dalhousie University and RBC Financial Group
announced the establishment of the new RBC Centre for Risk Management today. The
Centre will be a prominent high-end research and teaching unit within the new
$25-million Ken Rowe Faculty of Management Building. The goal of this national
Centre will be to advance knowledge in managing risk in complex and uncertain
times. RBC's Vice Chairman and Chief Risk Officer, Suzanne Labarge announced
a contribution of $1.2 Million - $500,000 of which was a philanthropic contribution
to the Management Without Borders Capital Campaign - to establish the Centre today
at a reception at Dalhousie. "I congratulate Dalhousie University
for its foresight'" said Ms. Labarge. "The risk management function
has truly come of age and will continue to evolve as more business leaders come
to recognize the important contribution sound risk management practices can make
to bottom line performance. The Centre will ensure that Canadians have access
to leading edge developments in the risk management discipline," she said.
Ms. Labarge will also join the Centre's Executive Advisory Council, which
includes such risk management experts as John Fraser, Chief Risk Officer at Hydro
Ontario; Ronald Cathcart, Executive Vice President of Retail and Risk Management
at CIBC; Anthony Saunders, Chair of the Department of Finance at the Stern School
of Business, New York University and Clas Wihlborg, Director of Centre for Law,
Economics and Financial Institutions, Copenhagen Business School. Dalhousie
has invested $4.5-million in the Centre for Risk Management including the allocation
of the prestigious Canada Research Chair in Risk Management. "This
investment will mean Dalhousie will be positioned to be a national leader in risk
management training and research," said Abol Jalilvand, Dalhousie's Dean
of Management. "The Centre will take a holistic approach to risk management
by studying how individuals and organizations make decisions to manage risk from
all sources that either threaten the achievement of strategic objectives or represent
opportunities to exploit for competitive advantage. It will provide world-class
learning and research opportunities for students, practicing managers and researchers
nationally and internationally. RBC's significant gift will go a long way toward
achieving this objective."
One of the important strengths of the RBC Centre for Risk Management is a multidisciplinary
approach to research and the involvement of partners from public and private sectors.
Dalhousie researchers and associates from other institutions will provide expertise
to the Centre in disciplines including decision analysis, statistics, mathematics,
economics, finance and insurance, psychology, anthropology, public administration,
environmental studies, information studies, and legal studies. Industries in public
and private domains including the government, financial services, energy resources,
agriculture and transportation will be the primary beneficiary of the applied
contributions of the RBC Centre's activities. Risk management study will be applicable
to cutting-edge issues including oil and gas prices, assessment of local and global
environmental threats and world-wide security issues in a post 9/11 society. The
Centre has already attracted a diverse group of prominent researchers and institutions
from Canada and abroad including the Centre for Law, Economics and Financial Institutions,
Copenhagen Business School, the Salomon Center, Stern School of Business, New
York University and Stochastic Optimization Network in Spain. Dalhousie
University's Faculty of Management is becoming a standard-bearer of the Dalhousie
name, demonstrating leadership in creating a multidisciplinary and/or interdisciplinary
approach to research and teaching in the 21st century. This focus reflects the
vision for differentiating the Faculty's activities and creating a strong brand
that moves beyond national boundaries which is known as Management Without
Borders. Establishing the RBC Financial Group Centre for Risk Management
is fundamental to realizing the Faculty's dream of Management Without Borders. Royal
Bank of Canada uses the initials RBC as a prefix for its businesses and operating
subsidiaries, which operate under the master brand name of RBC Financial Group.
Royal Bank of Canada is Canada's largest bank as measured by market capitalization
and assets, and is one of North America's leading diversified financial services
companies. It provides personal and commercial banking, wealth management services,
insurance, corporate and investment banking, and transaction processing services
on a global basis. The company employs 60,000 people who serve more than 12 million
personal, business and public sector clients through offices in North America
and some 30 countries around the world. For more information, please visit www.rbc.com.
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