TULSA, Okla. -- The University of Tulsa and Williams (NYSE: WMB) today announced plans to establish an energy risk management center integrating the latest in trading floor technology with a new graduate program focusing on the integration of financial theory with the practice of risk management in the energy industry.
The new center, the Williams Risk Management Center at The University of Tulsa College of Business Administration, will provide graduate students with the academic training and hands-on experience essential to preparing for a career in energy risk management, a field which has burgeoned in the age of electronic finance, deregulation, globalization and technological innovation.
"This partnership between The University of Tulsa and Williams represents a vital bridge between the corporate world and the academic world," said TU President Bob Lawless. "TU's commitment to academic excellence matched with Williams role as an energy and telecommunications industry leader will provide our students with the best possible education in a growing field of expertise."
The Williams Risk Management Center will be located in the College of Business Administration building and will be operational by January 2001. The center will offer its first classes in Fall 2001. Williams has made a $1 million commitment to establish the center and support its operation for the first three years.
"The demand for students with premier skills in quantitative analysis, financial engineering, structure valuation and risk management will continue to grow at a record pace," said Keith Bailey, Williams chairman, president and chief executive officer. "Williams and The University of Tulsa have a rare opportunity to tailor financial education to these demands and to distinguish the program from more traditional financial curricula."
The center will offer students a master's of science degree in finance with a concentration in risk management in the energy industry. Other concentrations in the master's program are corporate and international finance, and investments and portfolio management. The new center will provide graduate students with the opportunity to learn about risk management in a realistic hands-on environment. In addition, students will be able to strengthen their classroom learning through real-world experience by participating in a corporate-sponsored internship program. Students in the internship program will work approximately half-time for the sponsoring company during their two-year program of study.
"The Williams Risk Management Center is yet another example of the importance of a strong relationship between the business community and the classroom," said Gale Sullenberger, dean of the TU College of Business Administration. "By working together, we will prepare students with extensive training in a sophisticated financial laboratory, and we will provide future employers with a source of qualified graduates."
TU risk management students will be trained to develop and test sophisticated risk management models, trading strategies, and analytics used by traders to control risk. They will be trained through simulation experiences and specialized courses dedicated to the fundamentals of risk management, trading financial assets and commodities, and pricing and managing derivatives.
In addition to attracting business students seeking a highly focused finance curriculum, the program is designed to benefit students in math, engineering and the sciences seeking to apply their analytical skills to solving business problems.
Williams' energy marketing and trading unit buys and sells all types of energy products nationwide including natural gas and gas liquids, crude oil and refined products and electricity. The unit also manages its customers' exposure to volatile energy prices using comprehensive risk management services and creates customized energy financing solutions for producers and end-users.
About Williams
Williams, through its subsidiaries, connects businesses to energy and communications. The company delivers innovative, reliable products and services through its extensive networks of energy-distributing pipelines and high-speed fiber-optic cables. Williams information is available at http://www.williams.com.
About The University of Tulsa
A private institution in Oklahoma with approximately 4,200 students, The University of Tulsa is nationally recognized for its humanities-based undergraduate curriculum, engineering and natural sciences programs, and global initiatives. The university is affiliated with the Presbyterian Church, U.S.A. Information on The University of Tulsa is available at http://www.utulsa.edu.
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Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.
Contact:
Renee Andrews
Williams Media Relations
(918) 573-1813
[email protected]
Mercedes Millberry
The University of Tulsa
(918)631-2649
[email protected]
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