APU will continue hosting a Bloomberg Terminal on campus, thanks to a generous grant from Northrim Bank. Popularized in the 1980s, the Bloomberg Terminal remains a key tool for business and finance leaders. It’s presence on campus lets APU business students develop direct skills in global investing and financial literacy as they manage real-time transactions on behalf of the university.
“This financial donation will let our students experience the energy of Wall Street from right here in Anchorage,” explained Beverly Holmes, director of APU’s Institute of Business & Public Policy. “APU is defined by hands-on education opportunities, and the Bloomberg Terminal is an essential real-world training tool. Thanks to support from Northrim Bank, we can provide our students with the best resources available to build their careers in finance and investing in Alaska.”
The Terminal is a common feature in financial careers, allowing users to track changes in commodity and stock markets. Importantly for APU students, the Terminal also provides insights on a company’s environmental, social, and governance backgrounds (known as ESG criteria), which helps business students make sustainable investments on behalf of the university.
Each semester, MBA students enrolled in the university’s fund management practicum oversee the investment strategy and daily operations of a student-run portfolio. Under the guidance of faculty and with information from the Bloomberg Terminal, students address risk management and practice socially conscious investing focused on ESG criteria. The fund started in 2001 with $200,000 and has since grown by more than one million dollars solely under student management.
Northrim Bank is a prior partner of APU’s business program. In 2018, funding from the bank allowed APU to develop and deliver financial literacy workshops in rural hubs across Alaska. The courses included instructor travel, as well as online modules and resources available after the sessions. Funds from this year’s donation will extend financial literacy resources for rural students through online learning. This is also the second consecutive year that Northrim Bank will cover the annual cost and maintenance of the Bloomberg Terminal at APU.
“APU’s business programs have a tradition of excellence, and we value this opportunity to support Alaska’s future workforce,” said Mike Huston, President Northrim Bank. “This investment in student success will strengthen Alaska’s banking and corporate finance industries. We look forward to welcoming even more APU graduates into our ranks at Northrim Bank.”
A version of this story also appeared in Alaska Business.