MILWAUKEE, June 21, 2018 /PRNewswire/ -- Northwestern
Mutual is forming a new partnership with Marquette University and the University of Wisconsin-Milwaukee (UWM) to create
the Northwestern Mutual Data Science Institute. The partnership is
the latest step by the financial security company in its commitment
to advance Milwaukee as a national
hub for technology, research, business, and talent development.
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"As business needs change, the field of data science has
accelerated rapidly," said John
Schlifske, chairman and CEO, Northwestern Mutual. "Preparing
our future workforce and aligning curriculum with business needs is
critical to the economic vibrancy of Milwaukee. Northwestern Mutual is committed to
building a center of excellence around data science, and through
our partnership with Marquette
University and UW-Milwaukee, we will establish Milwaukee as a data science capital with
leading academic programs and career opportunities."
Over the next five years, Northwestern Mutual and its Foundation
will contribute $15 million to
support an endowed professorship at each university, research
projects, new data science faculty, development of expanded
curriculum, K-12 STEM learning opportunities, and pre-college
programming. Marquette University and
UWM will each invest more than $12
million in data science education and research by existing
data science faculty, bringing the total commitment in this effort
to nearly $40 million.
"Regions thrive when organizations creatively address common
challenges from different perspectives," said Marquette University President Michael R. Lovell. "Northwestern Mutual,
UW-Milwaukee and Marquette are creating an exceptional,
unprecedented partnership to further the economic renaissance under
way in southeast Wisconsin.
Marquette will strengthen the collaboration through our data
science major, which gives students the skills needed to transform
data into knowledge that will benefit society."
Components of the Northwestern Mutual Data Science Institute,
including hiring interim co-directors and curriculum planning, will
begin on June 30, 2018 and the first
classes in the Institute will launch as part of the 2019-2020
academic year.
"UW-Milwaukee is thrilled to step forward in collaboration with
Northwestern Mutual and Marquette
University to resolve some of the most perplexing problems
facing our region," said UWM Chancellor Mark Mone. "A looming talent shortage and global
competition demand that we make intelligent decisions that are
driven by the plethora of data available to us all. This is easier
said than done. Working together will draw us closer to building a
region that is rich in technological and analytical expertise
and attracts new and strengthens existing organizations and
industries while enriching our communities."
Data science has become a major competitive differentiator for
companies across all industries.
Using advanced statistical methods, algorithms and technology,
data scientists use large data sets to make decisions, solve
problems, develop strategies, and create new products aimed at
giving companies a competitive advantage.
Beyond funding, Northwestern Mutual will provide classroom and
office space in Cream City Labs, the company's new innovation lab
that is under construction and will open fall 2018 in Northwestern
Mutual's downtown Milwaukee
campus. Northwestern Mutual data science leaders will also partner
with the universities on teaching opportunities, mentoring and
internship programs, and will help to provide insight on how
student curriculum can better align with current business and
industry needs.
To learn more about data science at Marquette University, visit the Marquette website.
To learn more about data science at UWM, visit the UWM website.
About Northwestern Mutual
Northwestern Mutual has been
helping families and businesses achieve financial security for more
than 160 years. Through a distinctive, whole-picture planning
approach, we empower our clients to make the most of every single
day and plan for important moments in their future. We combine the
expertise of our financial professionals with a personalized
digital experience to help our clients navigate their financial
lives every day. With $265.0
billion in assets, $28.1 billion in
revenues, and more than $1.8 trillion worth of life insurance
protection in force, Northwestern Mutual delivers financial
security to more than 4.5 million people who rely on us for life,
disability income and long-term care insurance,
annuities, brokerage and advisory services, trust services, and
discretionary portfolio management solutions. The company manages
more than $125 billion of client
assets through its wealth management and investment
services. Northwestern Mutual ranks 97 on the 2017 FORTUNE 500
and is recognized by FORTUNE® as one of the "World's Most Admired"
life insurance companies in 2018.
Northwestern Mutual is the marketing name for The Northwestern
Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance,
annuities, and life insurance with long-term care benefits) and its
subsidiaries. Northwestern Mutual and its subsidiaries offer a
comprehensive approach to financial security solutions including:
life insurance, long-term care insurance, disability income
insurance, annuities, life insurance with long-term care
benefits, investment products, and advisory products and services.
Subsidiaries include Northwestern Mutual Investment
Services, LLC (NMIS) (securities), broker-dealer,
registered investment adviser, member FINRA and SIPC; the
Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary
and fee-based financial planning services), federal savings bank;
and Northwestern Long Term Care Insurance Company (NLTC) (long-term
care insurance).
About Marquette
University
Marquette University is a Catholic,
Jesuit university located near the heart of downtown Milwaukee, Wis., that offers a comprehensive
range of majors in 11 nationally and internationally recognized
colleges and schools. A Marquette education offers students a
virtually unlimited number of paths and destinations and prepares
them for the world by asking them to think critically about it. Our
mission is the search for truth, the discovery and sharing of
knowledge, the fostering of personal and professional excellence,
the promotion of a life of faith and the development of leadership
expressed in service to others. Along the way, we ask one thing of
every student: Be The Difference.
About University Wisconsin-Milwaukee
Recognized as one of the nation's 115 top research universities,
UW-Milwaukee provides a world-class education to 25,000 students
from 91 countries on a budget of $653
million. Its 14 schools and colleges include Wisconsin's only schools of architecture,
freshwater sciences and public health, and it is a leading educator
of nurses and teachers. UW-Milwaukee partners with leading
companies to conduct joint research, offer student internships and
serve as an economic engine for southeastern Wisconsin. The Princeton Review named
UW-Milwaukee a 2018 "Best Midwestern" university based on overall
academic excellence and student reviews, and the Sierra Club has
recognized it as Wisconsin's
leading sustainable university.
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SOURCE Northwestern Mutual