1

A word or phrase meaning "training and financing him to become"?

The only thing I can think of is "build someone up into", but I am not sure it has exactly the intended meaning.

The company built him up to be a very good CEO.

The company trained and financed him up to be a very good CEO.

2

the verb 'foster' comes to mind, especially if there was a lot of work going into it. A more financially-connotated word you might consider would be 'sponsored'.

That being said, I think your original usage is also fine.

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