2024-08-30 20:55:02
WASHINGTON – Howard University has been chosen as a launch site for the United Negro College Fund’s Project ACCLAIM (Accelerating Learning in Asset Investment Management), a groundbreaking initiative designed to cultivate a robust pipeline of students from historically Black colleges and universities (HBCUs) entering the financial services sector.
The program will launch at Howard University and Morehouse College in fall 2025 and is funded by a transformative $10 million gift from Adage Capital Management and Elizabeth and Phill Gross.
“Investing in the next generation of leaders is essential to the long-term health of the finance industry,” said Phill Gross, co-founder and managing director of Adage Capital Management. “Given the outsize impact of HBCUs, they are an ideal partner to strengthen the career pathways that will make our industry more inclusive and resilient. With the support of UNCF, we aim to build a best-in-class model with Project ACCLAIM that will attract additional investment while scaling to other HBCUs across the country.”
Project ACCLAIM will provide HBCU students with a comprehensive undergraduate learning experience in investment management, equipping them with the knowledge and skills necessary to succeed in the asset management industry. Through a combination of rigorous coursework, hands-on experience, and co-curricular activities, the program aims to enhance finance and investing curricula at HBCUs, foster a strengthened community of practice among faculty, and establish a centralized student-managed investment pool.
“HBCUs play a critical role in producing talented and diverse professionals who make significant contributions to various industries,” said Anthony D. Wilbon, Ph.D., dean of the Howard University School of Business. “The opportunity presented by Project ACCLAIM will deepen Howard’s ability to ensure that every student who graduates from our program is ready for life after Howard and represents an opportunity to pair classroom learning with real-world experience.”
Over the next year, a dedicated team of faculty, industry experts, and program leaders will focus on three critical areas to ensure the successful launch of Project ACCLAIM: developing a rigorous curriculum tailored to HBCU students, establishing partnerships with leading financial firms for internships and mentorships, and creating a centralized framework for the student-managed investment pools. Faculty workshops will align teaching with industry standards and regular stakeholder meetings will refine the program, setting a new standard for experiential learning in asset management.
“By cultivating a robust pipeline of Black talent in the financial services industry, this transformative initiative will play a critical role in closing the wealth gap for African Americans” said Michael L. Lomax, Ph.D., president and CEO of UNCF. “By empowering HBCU students with real-world experience, mentorship and access to capital, Project ACCLAIM equips them to become future leaders who can drive positive change within the industry and their communities. We are thrilled to launch this program at Morehouse and Howard and look forward to expanding Project ACCLAIM’s reach and impact in the years to come.”
UNCF hopes to expand this powerful initiative to other cities and HBCUs in the future, further diversifying the financial services industry and creating more institutional wealth-building activities that have a lasting impact on the communities served by these institutions.
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About Howard University
Founded in 1867, Howard University is a private, research university that is comprised of 14 schools and colleges. Students pursue more than 140 programs of study leading to undergraduate, graduate, and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced two Schwarzman Scholars, four Marshall Scholars, four Rhodes Scholars, 12 Truman Scholars, 25 Pickering Fellows and more than 165 Fulbright recipients. Howard also produces more on-campus African American PhD. recipients than any other university in the United States. For more information on Howard University, visit www.howard.edu.
About UNCF
UNCF (United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. While totaling only 3% of all colleges and universities, UNCF institutions and other historically Black colleges and universities are highly effective, awarding 15% of bachelor’s degrees, 5% of master’s degrees, 10% of doctoral degrees and 19% of all STEM degrees earned by Black students in higher education. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 50,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, ‟A mind is a terrible thing to waste.” ® Learn more at UNCF.org or for continuous updates and news, follow UNCF on X (formerly Twitter) at @UNCF.
