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Richard M. Rosenberg speaks to students

How To Run a Bank

October 12, 2005

Learning from the Professionals
Richard M. Rosenberg, retired Chairman and Chief Executive Officer of Bank of America, gave students of the International Business School a once-in-a-lifetime lesson in running a bank during one of the School's new General Education Seminars. Professor Ed Bayone, himself former Executive Vice President and Chief Credit Officer at FleetBoston Financial, was co-leader of the session.

Richard M. Rosenberg, retired Chairman and Chief Executive Officer of Bank of America, interacting with students at the IBS General Education Seminar that simulated the running of a community bank.

In role play format, four groups of students, acting as officers of community banks, presented to Mr. Rosenberg and Professor Bayone annual reports for their institutions. As well as having the benefit of a professional critique of their efforts, the groups got a taste of what it is like to defend a business strategy before a shareholders' meeting. Further spice was added to the exercise by the spirit of friendly competition among the four banks.

IBS's General Education Seminars
IBS introduced the General Education Seminar this semester to offer students an opportunity to study narrow, interesting topics in unusual depth.

The General Education Seminar is named after the famous course "GenEdS" which Brandeis offered in the 1950s. The course featured discussions with leading figures in politics and the arts. Eleanor Roosevelt was a frequent participant.

IBS Students divided into four groups to present annual reports at the School's General Education Seminar and faced detailed questioning on their business strategies and competitive positions.

IBS will offer two Seminars this spring and hopes to offer around that number in future semesters. In addition to the session led by Mr. Rosenberg and Professor Bayone, a seminar on "Central Banking Strategies" will be held by Professor Stephen Cecchetti and other Federal Reserve System experts.The new GenEdS will echo the spirit of its distinguished predecessor by enabling students to explore large issues with world-class experts.