The Bank of America Merril Lynch, BAML, has rated the University of Lagos high for the quality of its graduates who have enrolled for participation in the financial institution’s Graduate and Internship program since its commencement in Africa.
The commendation was made when the Vice-Chancellor, Professor Folasade T. Ogunsola, OON, FAS received in her office, the President, Europe, Middle East and Africa of the Bank of America Merrill Lynch, BAML, Mr. Bernard Mensah, at the Senate house on Wednesday, July 5, 2023.
The BAML top shot who was accompanied by the Head of Sub Sahara Africa, Mrs. Yvonne Ike-Fasinro disclosed that the visit became necessary to acknowledge the groundbreaking successes recorded over the years by the 16 UNILAG alumni recruited as full-time staff of the Corporation through its annual African Internship Progam.
According to him, “We are committed to the economic advancement of young adults, particularly low-and moderate-income communities, and those that deserve second chances. Our workforce development and education efforts include the way we hire, recruit and retain employees at our company. Through the internship drive, we have been successful at providing individuals with live and on-demand educational resources that has enhanced their skills, boost their confidence, as well as aided their navigation through the job market.”
Mr. Mensah specially applauded successive cohorts from UNILAG for their satisfactory performances at the BAML Academy, adding that the non-profit grant funding of the corporation has also helped in the area of economic mobility which has addressed issues related to workforce development, community development, and small medium supports.
Welcoming Mr. Mensah, the Vice-Chancellor reiterated the preparedness of the University for international collaborations that can improve its ratings globally, adding that the University has a penchant for opportunities that would amplify her already established programmes for overall student improvement. “I am confident in the ability of our students and they have always proven to be ready-made and well-prepared especially when push comes to shove”.
She attributed the news of the great performances of the institution’s alumni in the BAML internships to the University’s commitment towards ensuring premium in the development of the university students.
Professor Ogunsola who was excited over the report from the BAML Chief highlighted the many feats and success stories as recorded by students to her guests, stressing it will continue to seek more collaboration to keep the flag flying.
The Vice-Chancellor also underscored the need to identify budding talents in Nigeria’s ivory towers, and channel their creative and intellectual energies to meet the growing needs of the industry. “I am excited that the University of Lagos has been greatly impacted via your students and graduates model that continues to offer a variety of internships across different business lines, including wealth management, investment banking, and technology”.
Other areas during the discussion includes efforts to harness the strong entrepreneurial culture amongst University of Lagos students by providing business incubation, growth, and accelerator support required to fully explore their latent creativity and innovative potential, amongst others.
Interaction with Students
.. After the courtesy visit, the BAML team made a quick stop at the Beloxii Simulation Laboratory to meet with some members of the ‘Investment Society’ a multi-disciplinary and academically diverse community of students under the direct supervision of Dr. Peter Amah.
The visit provided a platform to discuss issues about the Academy and the Bank’s efforts to foster economic mobility, build skills, and inspire career confidence.
The Director of the Simulation Laboratory, Dr Amah described the visit as confidence-building in all facets. The visit to the university also afforded the BAML an opportunity to debunk widespread speculation that those selected to participate in the Bank of America Merril Lynch internships were only Management Science students.
In his words “The notion to think that we represent only management science students alone is wrong. In fact, the society membership cuts across several disciplines.
According to him, the society in the past five (5) years has been dominated by winners of the CFA Equity Research Challenge who are all of UNILAG extraction making it the fourth time in a row the University has won the competition in Nigeria. They have also represented Nigeria at the Europe, Middle-East, and Africa (EMEA) Regional with sterling performance outcomes.
The Bank of America Merrill Lynch is an American multinational investment bank division of the Bank of America in the USA.
