The centre is sponsored by the World Bank, the Canadian government, three big Canadian banks and York University's Schulich business school.

ECONOMIST: Bank regulation

Nonetheless, Schulich's inaugural class will begin MBA begin in January.

ECONOMIST: Rolling news from the business campuses

Schulich faculty will deliver the majority of the courses.

ECONOMIST: Rolling news from the business campuses

It no longer has founder Seymour Schulich at the helm but chairman Pierre Lassonde was a co-founder and, with CEO David Harquail, the management team ensures the formula remains unchanged from its previous successful model.

FORBES: Gold Stocks Remain Undervalued

But after graduating from the Schulich School of Business at York University in Canada, Mr Fekete moved to London and set up MaxBips, a website where small- and medium-size enterprises (SMEs) auction their surplus cash to banks.

ECONOMIST: Business-school entrepreneurs: In the beginning | The