The Ministry of Education, Training and Employment has joined with the Royal Bank of Canada to introduce the Harry Chisholm Scholarship for students interested in the banking industry.
The scholarship will award $30,000 per year to one Caymanian college student. The Ministry and the Royal Bank of Canada will each contribute $15,000 annually for up to four years.
Mr. Chisholm spent 42 years with the Royal Bank of Canada as vice president and country head for the Cayman Islands. He said the award recipient will benefit tremendously from the opportunities it will offer.
“It was probably one of the key objectives I’ve had all along – developing people. Certainly within my means and what we could accomplish at the bank, we spent a lot of time training people,” he said. “And it was quite rewarding to spend time with people, prepare them for the job, see them do a good job and succeed – that meant a lot to me.”
He said he feels honoured by the award, but it’s not about him.
“It’s about RBC helping somebody in the community, helping the future children of Cayman,” he said.
Education Minister Rolston Anglin said he believes this particular scholarship will raise the standards for students in terms of who would be eligible.
“We wanted to ensure that this was about indeed the brightest of the brightest,” he said. “Government clearly recognises that we need to do a better job in trying to ensure the transition from university to the world of work is more seamless.”
The current vice president and country head of the Royal Bank of Canada in the Cayman Islands, Jason Waters, said the scholarship allows the bank to review its future up close.
“It’s a terrific opportunity for the student to develop and for us to see that individual in action with the hopes of bringing them on on a permanent basis once they complete their education,” he said.
The scholarship is paired with 12 weeks of work experience after the student finishes school.
The scholarship will also consist of a mentoring programme for the student, including guidance in a career, choice of courses and money management.
The Royal Bank of Canada has had a presence in Cayman since 1964. In 1965, Mr. Chisholm joined the company, where he assumed more and more responsibility over the years. He retired in 2007.
Scholarship applications are due by 15 June.