HSBC Bank Canada has established a new endowment fund

November 21st, 2011 · No Comments · Asper School, News, News Release

The Asper School of Business, a world-record holder of business competition wins, will become an even more formidable opponent thanks to a $100,000 donation from the leading international bank in Canada.


At the annual Commerce Students’ Association banquet held on Nov. 17, HSBC Bank Canada presented a $100,000 donation to the University of Manitoba to be used for the funding, in perpetuity, of an award to be given annually to one first-year student in the Asper School of Business. The award recipient will be selected on the basis of academic achievement and community service.

The award will bolster the Asper School’s ability to continually recruit the best and brightest students.

“The University of Manitoba is grateful for HSBC’s generous gift that supports and encourages the pioneering and philanthropic spirit our Asper business students constantly demonstrate to the world,” said Dr. David Barnard, president and vice-chancellor at the University of Manitoba.

“HSBC’s gift is a strong endorsement of the Asper School’s internationally recognized high standards, our commitment to excellence, and our enduring goal of providing students with the highest quality business education,” said Michael Benarroch, Dean of the Asper School of Business. “This award will assist our school in attracting high-quality students and insuring that they become the visionary business leaders of tomorrow. We deeply appreciate this Award and accept it with sincere thanks.”

“HSBC is very pleased to be able to help support students at the University of Manitoba through the establishment of the permanently endowed HSBC Bank Canada Award,” said Robin Penfold, Senior Vice President, Commercial Banking, HSBC Bank Canada. “HSBC believes strongly in helping to create greater access to higher education, which is why we fund awards for students at post-secondary institutions across Canada.”

The University of Manitoba’s Asper School of Business has a long record of success in business competitions (its 46 first-place finishes since 1995 is a world-record) and philanthropy (its students lead many fundraising events from Shinerama, Five Days for the Homeless, and Chillin For Charity, which just this month raised over $11,000 for the United Way).

HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in Canada. With around 7,500 offices in over 80 countries and territories and assets of US$2,691 billion as of June 30, 2011, the HSBC Group is one of the world’s largest banking and financial services organizations.

Photo cutline:
Andrew McPherson, Vice President, Commercial Banking, HSBC Bank Canada (left) presents a cheque to Michael Benarroch, Dean of the Asper School of Business, while Asper students celebrate.

For more information related to the University of Manitoba please contact Sean Moore, Marketing Communications Office, University of Manitoba, 204-474-7963 (,

For more information related to HSBC Bank Canada please contact Ernest Yee, Vice President, Corporate Affairs, HSBC Bank Canada, at 604-641-2973 (

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