HSE Banking Institute and CFA Institute: Time to Put Down Roots
On September 11, staff of HSE’s Banking Institute and the Chartered Financial Analysts (CFA) Institute planted trees at the park on Maly Gnezdnikovsky Pereulok, commemorating the five-year anniversary of the start of joint projects between CFA Institute and the HSE, as well as the 10-year anniversary of the creation of CFA’s office in Russia, with which the HSE Banking Institute carries out educational programmes in financial analysis.
HSE’s Banking Institute is currently the only educational institution in Eastern Europe, including the former Soviet states, with two programmes that have official CFA Institute partner status: the Financial Analyst master’s programme and the MBA programme in Investment Management.
‘The five-year cooperation has allowed us to better understand the demands of the modern employer. In forming our educational programmes, we first and foremost relied on the research of the CFA Institute. Whereas several years ago few people in our country knew what a CFA was, now a CFA certificate is a recognized brand not only around the world, but in Russia as well. The number of those wanting to receive the certificate grows each year. This is due to the fact that the financial market is narrowing for various reasons, and specialists fluent in contemporary techniques of financial analysis are become more sought-after. Many Russian companies are currently asking for a CFA certificate in selecting candidates for leading positions,’ HSE Banking Institute Director Vasiliy Solodkov said.
The Russian audience of the CFA Association consists of over 10,000 individuals, of which around 6,000 have attempted to take the first of three levels of the exam following a difficult preparation period lasting several months. Around 700 people have currently received a CFA certificate in Russia. ‘The Russian CFA Association is one of the fastest growing in the entire world. A contribution to the spread of the CFA’s high standards is of course being made by the Higher School of Economics as well, in particular the Banking Institute, and this is a great honor for us. Overall, we estimate that about 100 people receive the certificate each year in Russia, and experience has shown that Russian specialists come to CFA more determined than specialists in rest of the world; they come with a clear understanding of their life trajectory. We now believe the time has come to more thoroughly put down roots in Russia, and planting [the trees] is a symbolic method of accomplishing this and establishing a place in Moscow that will be officially connected with the CFA and where certificate holders can regularly meet,’ the General Director of the CFA Russia Association, Vladimir Tutkevich, notes.
Anastasia Chumak, HSE News Service
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