A partnership between Bloomberg, Centerbridge, Goldman Sachs and the City University of New York is launching this fall at CUNY’s Brooklyn College, City College and Lehman College
Bloomberg LP, Centerbridge Partners LP and Goldman Sachs Group Inc. are funding a new program to train, mentor and hire students for careers in the financial sector in a push to bring more women and minorities to the industry.
The initiative, a partnership between the firms and the City University of New York, is launching this fall at CUNY’s Brooklyn College, City College and Lehman College and aims to expand to additional schools over time. The funding will provide internship opportunities, career-development staff and help with postcollege hiring. The program’s backers say they hope it will help New York’s economic recovery from the pandemic.
Women and minorities have yet to ascend to the top ranks at financial firms in notable numbers, and attention increasinglyfollowing racial justice protests last summer. CUNY Chancellor Félix V. Matos Rodríguez said the initiative, which has been in the works for about two years, will help boost students’ social mobility since more than half of CUNY students’ parents didn’t graduate from college. Many rely on CUNY for career help.
The firms plan to invest millions of dollars over three years in the program, CUNY Futures in Finance, people familiar with the matter said. The financial-services sector accounts for 336,400 jobs, or 9% of private-sector jobs in New York City as of June 2021, according to city government data.
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