Scottish Re pledges $500,000 to WFU Calloway School program

By Maggie Barrett
April 14, 2005

Scottish Holdings Inc., a wholly owned subsidiary of Scottish Re Group Limited, has pledged $500,000 to the enterprise risk management program at Wake Forest University's Calloway School of Business and Accountancy.

Scottish Re is a global life reinsurance specialist with subsidiaries around the world, including Charlotte.

The pledge will be used to establish the Scottish Re Directors Fund, which will support faculty ventures, secure outside speakers, purchase academic materials and support students through a variety of initiatives.

"Scottish Re's commitment provides the financial base for the enterprise risk management program," says Jon Duchac, director of the enterprise risk management program and Merrill Lynch Associate Professor of Accounting at Wake Forest's Calloway School. "It has provided the resources necessary to increase enrollment by almost 40 percent, and has allowed us to pursue innovative curriculum and research initiatives."

Launched in 2003, the enterprise risk management program teaches students to identify, evaluate and manage risks within business organizations by combining classroom instruction and internship experience. The program also focuses on integrating risk management with other business disciplines, so as to provide students with a well-rounded business education.

"Wake Forest's students are exceptional and the specific training they receive in this program can set them apart from other graduates," says Oscar Scofield, chairman and president of Charlotte-based subsidiary Scottish Re (U.S.) Inc. "Our firm has invested in Wake Forest's enterprise risk management program because this kind of education develops the kind of young person our company needs."

The Calloway School, ranked 29th among all undergraduate business programs by U.S. News & World Report, is the largest undergraduate program at Wake Forest. Three of the school's specialty programs also appear in the U.S. News & World Report rankings: the school's accounting and entrepreneurship programs are both ranked 14th nationally, and the general business program is ranked 18th. The school offers a bachelor's degree with majors in accountancy, business, finance and mathematical business, as well as a master's degree in accountancy.

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