Acquisition of Lorange Institute Gives Chinese School Access to Europe
Leading b-school in China now has presence across 3 continents
Milestone in school’s internationalization strategy
October 16, 2015. Shanghai/Zurich ? As Chinese executives turn their eyes to the global stage and understanding the Chinese economy becomes increasingly vital for the rest of the world, China Europe International Business School (CEIBS) has deepened its presence in Europe.
“An increasing number of our alumni are doing business globally, so we have to better serve this group,” explains CEIBS European President Professor Pedro Nueno. “At the same time, the Chinese economy is growing larger and more complex and its impact on the rest of the world is undeniable; so it’s time to better summarize and develop business theories and models, based on Chinese practices, and convey those messages worldwide.”
Global since inception as a joint China-EU project, this is another initiative being driven from CEIBS’ European side to secure an operating base and global center for China-EU studies in Europe. The Lorange Institute of Business Zurich’s (LIBZ) business school operations have been bought by a non-profit organization registered in Switzerland, the Friends of CEIBS Foundation (FCF). The FCF was founded through generous donations by Professor Pedro Nueno (CEIBS European President), Professor Ding Yuan (CEIBS Vice President and Dean), CEIBS alumnus & President of Cathay Capital Private Equity Cai Mingpo and other members of the CEIBS community. FCF trustee board members will consist of some members of the CEIBS board, faculty and influential alumni. Jinsheng Group, headed by CEIBS alumnus Pan Xueping, has acquired the property that houses LIBZ and will rent it to LIBZ at favorable rates, greatly reducing its operating costs.
The FCF’s purchase of the LIBZ is also an example of the ‘light touch’ approach to acquisitions outlined in research done by the CEIBS Centre for Globalization of Chinese Companies. In the initial stages, the Lorange Institute of Business Zurich will retain its name, CEIBS Vice President and Dean Professor Ding Yuan will serve as Chairman, CEIBS Associate Dean Katherine Xin will be in charge of academics and teaching, while Peter Lorange will remain as Honorary President and the business school’s operations will be maintained and headed by its CEO & President Philipp Boksberger.
“This move will further enhance our concept of the ‘business school of the future’ by strengthening the international network of faculty members and business competences with an added focus on key future markets,” says LIBZ’s current Chairman Peter Lorange.
Students and alumni from CEIBS’ wide range of programs will be hosted by the LIBZ while on study tours to Europe. The Institute will also be a source of training for employees of CEIBS alumni companies and/or business units in Europe, as well as European companies doing business in China.
“Through this new initiative we will engage in teaching and research that bolsters CEIBS’ China Depth, Global Breadth positioning, boost our international presence and profile while also making the school stronger in meeting the needs of the Chinese market,” says CEIBS Chinese President Professor Li Mingjun.
CEIBS’ foray into Zurich is a natural progression. The school was established, 21 years ago, as a joint venture between the Shanghai government and the then European Commission. “Today, CEIBS has received endorsement from the two major accreditation bodies in the U.S. and Europe, EQUIS and AACSB; and its MBA, EMBA and Executive Education programs have gained global recognition,” says CEIBS Vice President and Co-Dean Professor Zhang Weijiong. “We hope this project will enhance our ability to offer an even more international perspective to our students and alumni while also providing a new bridge for European companies to understand the Chinese market.”
CEIBS has campuses in China’s economic and political capitals ? Shanghai and Beijing ? as well as operations in Shenzhen to the south of China and Accra in Ghana. Among the school’s more than 17,000 alumni around the globe, the majority are in leadership positions. As the needs of its students and alumni have changed over the years, CEIBS has adapted to better fulfill its goal of educating responsible business leaders.
“We have been very successful at bringing knowledge to China, educating and developing competent managers for multinationals, SOEs and private companies. You could say we provided a ‘set menu’,” says CEIBS Vice President and Dean Professor Ding Yuan. “Now it will be more ‘a la carte’. Our students and alumni are looking to us to provide them with the business management training they need to face the new challenges of the Chinese economy. We have responded by covering topics such as innovation, e-commerce, entrepreneurship, branding, family business, industry 4.0 and more.” He adds, “CEIBS students can learn from European cases and experts on innovation and family business. At the same time, European students can get first-hand knowledge on cases and teaching from China while still in Europe. We need to educate business executives ? both Chinese and those from other countries ? on how to navigate China’s increasingly complex market, and we do all this within a global context. This is now CEIBS 2.0, and it’s quite different from our 1.0 version of 20 years ago.”
