Financial Services Sales Leadership Program

St. Paul, Minn., Jan. 11, 2001 - The College of St. Catherine (CSC) today announced a new Financial Services Sales Leadership program at the college funded with a $350,000 grant from American Express. The program, believed to be the first of its kind in the nation, allows participating students to earn a bachelor's degree in sales with a concentration in financial services and a minor in economics. It also features continuing education courses and research dedicated to financial services sales.

Senior executives at American Express and other financial services professionals provided intensive input on the curriculum. The college also consulted with the certified financial planner board of standards. In addition, internships at American Express and other participating financial services companies will be available to qualified students.

"The financial services sector is complex and requires sophisticated skills and a strong knowledge base," said College of St. Catherine Director of Corporate Relations Marjorie Mathison Hance. "As the nation's premier Catholic college for women, the College of St. Catherine long has been known for developing the leadership skills of women. It's highly appropriate that a groundbreaking financial services leadership program originate at this college."

The program, offered through the Center for Sales Innovation at St. Catherine beginning next fall, is available at the college's St. Paul campus and serves both traditional day students and nontraditional students interested in changing careers or reentering the work force. A strategic partnership with WomenVenture, a Minnesota-based nonprofit organization dedicated to the economic development of women, is expected to help attract minority women to the program.

"Thanks to the generosity and committed involvement of many people at American Express, our students will benefit from a unique financial sales program that combines an in-depth education in finance with sales leadership development. The program will prepare students for leadership roles within a wide range of careers in consumer or business-to-business financial services sales," said Hance.

"American Express has a long-standing relationship with the college and believes this partnership, which leverages the American Express' sales leadership experience, will develop strong women leaders for many years," said Becky Roloff, senior vice president - Advice, Information and Field Services, American Express Financial Advisors. Roloff, a graduate of the college, was responsible for initiating the partnership.

"The partnership between the College of St. Catherine's and American Express combines the strengths of both organizations. It allows students to gain a good liberal arts background from the college with the financial services experience of one of the industry's leaders in financial services," said Teresa Hanratty, senior vice president-Field Management and Advice Services at American Express. "Sales offers tremendous opportunities for individuals to excel in a performance-based field, as well as develop leadership skills that enable them to move into management positions within companies. This program gives students the tools they need to succeed."

The College of St. Catherine is the largest and most comprehensive Catholic college for women in the United States and the second largest private college in the state of Minnesota. Founded in 1905 by the Sisters of St. Joseph of Carondelet, St. Catherine's vision is to be the world's preeminent Catholic college educating women to lead and influence with campuses in St. Paul and Minneapolis, the college serves nearly 4,500 students in bachelor degree programs in a full-time day and weekend college formats, professional certification, associate and graduate degree programs. The college maintains its commitment to the liberal arts as the broad base of learning. The college has been named regularly to Barron's "Best Buys in Education" and U.S. News and World Report's "Top 15 Best Values of Midwest Regional Colleges/Universities. "The Center for Sales Innovation at St. Catherine's has been featured in the Wall Street Journal and many other magazines and newspapers.

American Express Financial Advisors is one of the nation's leading financial planning companies. It is part of the American Express Financial Corporation, which currently owns or manages more than $293 billion in assets. Through a network of more than 11,000 financial advisors and its online services, the company provides comprehensive, long-term financial planning and high quality financial products to more than 2.3 million clients throughout the United States.

Center for Sales Innovation at St. Catherine Background

St. Catherine began offering a sales major within its Business Administration department in 1998. The program, now in its third year, includes more than 60 students. The Sales major concentrates on business-to-business (B2B) sales, emphasizing a broad educational base, a strong business background, and a sophisticated skill set.

In addition to the Sales major, the college launched the Center for Sales Innovation, conducting original research, such as a Sales Force Retention Study currently underway with 3M, and continuing education programs. Grants from 3M provided initial funding for the Center. Five other companies - Ecolab, Medtronic, Northwest Airlines, Pfizer and Tennant -also provide financial support.

As the college progressed in the development of the Center and the B2B sales concentration, it quickly became apparent a similar need existed in the financial services sector. Despite its increasing complexity, no college or university in the United States currently offers a program integrating sales and financial services in a comprehensive curriculum.