Rochester, NY-The Simon Business School at the University of Rochester on Tuesday announced the establishment of the Rajesh Wadhawan Chair in Development Economics with a $ 1.5 million endowment from Wadhawan Global Capital Pvt. Ltd, known as WGC.
The chair commemorates the group’s founder, Rajesh Wadhawan, and his vision of empowering disadvantaged sections of society through fair and respectable access to credit.
The chair will focus on the elaboration of research and studies in development economics which will be supported by exchange programs and internships in WGC group companies in India. Joint forums to further propagate the field and allied areas are also on the anvil.
In his remarks, Simon Business School Dean Andrew Ainslie said, “This gift shows the commitment and generosity of the Wadhawan family to giving back to society in a meaningful and knowledge-based way. The Rajesh Wadhawan Chair will strengthen the academic and research orientation of Simon Business School on development economics. It is in line with our commitment to create a curriculum based on analysis and economics. We look forward to an engaging partnership with WGC to make this effort a success. “
The Wadhawan family, represented by Ms. Aruna Wadhawan, wife of the late Rajesh Wadhawan and son Kapil Wadhawan, wife Vanita and daughter Tiana and son Kartik, were present at the plaque ceremony on campus.
Speaking on behalf of the family, WGC Chairman Kapil Wadhawan said, “The Rajesh Wadhawan Chair is a tribute to our group founder’s legacy of doing business with purpose. The subject of development economics was close to his heart. He envisioned giving the poor the means to build their own houses with credit.
The endowment will support a full-time faculty member Simon Business School for research and a program that improves understanding of economic issues in developing countries.
WGC’s collaboration with Simon Business School aims to create greater impact globally. With an asset base of $ 18.6 billion, 10 million customers and a presence on 770 touchpoints, the group has in-depth knowledge of ambitious consumers. When viewed in the broader context of development economics, it has the capacity to bring about transformative socio-economic change in a cost-effective manner.
Simon Business School is the business school at the University of Rochester and one of the best business institutions in the world. It offers an education that attracts students who value analytical bias. The school strongly believes in the value of economics and statistics in analyzing all business issues, and this is reflected in its ranking among the top five economics and finance schools.
Wadhawan Global Capital Pvt. Ltd. (WGC) is a leading financial services group in India. The group manages $ 18.7 billion in assets through its credit, asset management and insurance businesses. The WGC Group has partnered with leading financial institutions such as International Finance Corporation, Washington and Prudential Financial Inc., USA, to transform the lives of millions of customers across India.
(WGC) is the parent company of some of the biggest brands in India such as DHFL, Aadhar Housing Finance Company, Avanse Financial Services Ltd, DHFL Pramerica Life Insurance Company Ltd and DHFL Pramerica Asset Managers Private Ltd to name a few- one.