September 16, 2025
A groundbreaking announcement has emerged from a prestigious business school, revealing a remarkable $60 million donation aimed at establishing a new master’s program in quantitative finance. This significant contribution, made by alumnus Bruce Jacobs, marks the first new degree offering in half a century for the institution, highlighting a pivotal moment in its history.
This generous gift stands as the largest single donation ever received by the school, elevating Jacobs’s total contributions to over $80 million. Such a commitment underscores the importance of advancing education in the rapidly evolving field of finance.
The newly introduced program is primarily designed for current undergraduate students at the university who are pursuing degrees in quantitative disciplines. The Dr. Bruce I. Jacobs Master of Science in Quantitative Finance will necessitate an additional year of study, focusing on critical areas such as quantitative methods, machine learning, artificial intelligence, and financial markets. The objective is to equip graduates with the skills needed for successful careers in the quantitative asset management sector.
Jacobs, who completed his Ph.D. in 1986 and later co-founded an equity management firm, reflected on the evolution of quantitative finance during his time at the school. He stated, “When I was at the business school, quantitative finance was just beginning to take shape. Today, it has become a vital discipline in our data-driven society. The new master’s program will provide specialized courses, internships, and practical experiences, bridging the gap between theory and real-world application. This initiative will leave a lasting impact on the industry and future generations of students, ensuring that the school remains a leader in this dynamic field.”
The first cohort of students is set to commence their studies next fall, marking an exciting new chapter for the institution.
The president of the university expressed gratitude for Jacobs’s historic contribution, stating, “Our business school is recognized globally for its leadership in areas like quantitative finance. Dr. Jacobs has been a steadfast advocate for our excellence in this crucial domain, and we are immensely thankful for his generous support. This innovative, hands-on graduate program will enhance our strategic focus on data and artificial intelligence, preparing our students to excel in a rapidly evolving landscape.”
As the academic community anticipates the launch of this program, it is clear that the future of quantitative finance education is bright, promising to cultivate the next generation of leaders in this essential field.