On January 17, 2007, HEC signed a Memorandum of Understanding with the School of Management of St Petersburg State University, the oldest and the most prestigious research university in Russia. The Memorandum consolidates the existing relationship between these institutions and creates a framework for further cooperation.

Business education for the 21st century

The Graduate School of Management (GSOM) stands at the center of a drive to develop a network of Russian business schools and improve the country's competitiveness in the 21st century 'knowledge economy'. As a Russian business school with global reach, GSOM will educate the national managerial elite and also welcome international students and professors.

From the outset, GSOM has sought to build partnerships with recognized leaders in business education which are dedicated to education and research and committed to active globalization. As GSOM's principal European partner, HEC is keen to develop this valuable relationship through the signing of the Memorandum, which will enhance cooperation through faculty development and exchange, joint research initiatives, student exchanges, and joint executive MBA and executive education activities.

A long-standing relationship

The relationship between HEC and GSOM is built on firm foundations. HEC is a member of the consortium which delivers the GSOM Executive MBA and currently holds the Presidency of the Community of European Management Schools, CEMS, which GSOM joined as a Non European Associate Partner in 2006. Links are also being forged at an individual level: MSc student exchanges have been running since spring 2006 and GSOM will participate in the Global Exchange Program from 2007-08.

As GSOM Dean Valery Katkalo explains, "HEC and GSOM share common European traditions in business education. This cooperation supports the ambitious development goals of GSOM and is a valuable way of promoting the GSOM brand on the international market and the HEC brand on the Russian market."

President Vladimir Putin expressed his thoughts at the ground-breaking ceremony for the new campus on November 29, 2006: "Creating such a school will undoubtedly contribute to the development of the national economy. The School's alumni will have to meet real-life business challenges and defend Russia's interests in international markets. They will need professional training and skills, leadership and entrepreneurship and, of course, deep fundamental knowledge."