A $3 million gift from Dr. Richard Chaifetz and Jill Barclay Chaifetz through their Chaifetz Foundation will establish the Chaifetz Trading Center at Miami's new Farmer School of Business building.
The Chaifetz Trading Center will enhance the real-world learning of undergraduate and graduate students by allowing them to participate in simulated financial market activity as an integrated part of their finance curriculum. Simulated transactions will be based upon real-time electronic feeds from Bloomberg and Reuters on dozens of dual-monitor computer stations. The high-tech, 1,800-square-foot facility will feature a "pit" surrounded by glass walls for viewing, scrolling stock market tickers and projection screens.
"We are immensely grateful to Dr. and Mrs. Chaifetz for their generosity and vision," said Roger Jenkins, dean of the Farmer School. "As a result of their gift, the Farmer School will be able to offer to our undergraduates the kind of experience that is most often found at the graduate level.
"We are excited about funding a resource that we see as a vital part of a business student's education. The Chaifetz Trading Center will give students hands-on experience in using market data and financial modeling -- important skills for any career in business," said Richard A. Chaifetz, chairman and CEO of ComPsych Corp. and major participant in the private equity and hedge fund markets.
Dr. Chaifetz is a member of the Business Advisory Council of the Farmer School of Business and also the founder of ComPsych, the world's largest provider of employee assistance programs (EAPs), as well as numerous other businesses in the behavioral health, work-life, wellness and outsourced HR services arena. ComPsych provides services to more than 25 million individuals and 10,000 organizations throughout the U.S. and 92 countries.
Jill Barclay Chaifetz earned a bachelor's degree in accountancy from Miami. After earning a CPA, she worked for Arthur Andersen and later Refco Corp. As an active philanthropist, she sits on the boards of several non-profit organizations and is a trustee of the Chaifetz Foundation, which focuses on education, athletics, children's causes and assistance in underdeveloped countries.
The Chaifetz gift benefits the Miami University Campaign For Love and Honor. A campaign priority, the Farmer School's state-of-the-art building will be ready for occupancy in the summer of 2009.