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The Financial Times has released its annual ranking of business schools from around the world. Readers may be stunned to find that the Harvard Business School, a wing of the huge, Cambridge, Mass.-based university that is considered to be the top one in the world, ranked number one.

Two other U.S. schools took second and third places — the Stamford Graduate School of Business and University of Pennsylvania’s Wharton School of Business. The University of London ranked next. The Financial Times is a U.K.-based paper, so it would be embarrassing if the country did not have an entry in the top five.

Although the United States does dominant the top 10 of the rankings, schools from Singapore/France, Spain and Hong Kong make it as well. Notably absent are schools from the People’s Republic, Russia, Brazil and other huge developing markets. The BRICs have to send their students abroad, unless they want those students to get third-rate educations.