Lehman gives $10 million to Spelman

Lehman Brothers has pledged $10 million to Spelman College to prepare black women for careers in the financial sector. The New York-based investment bank will develop the Lehman Brothers Center for Global Finance and Economic Development at Spelman College, a historically black women’s university in Atlanta. As part of that project, Lehman Brothers contributed the money to develop a new interdisciplinary curriculum and hire finance and economics professors. The donation will also establish the Lehman Brothers Scholars Program and offer scholarships. The grant will also allow the school to expand its language offerings to include Chinese, provide merit- and need-based aid to students, and give the women opportunities for international internships. Sophomores can participate in an investment banking boot camp that will introduce them to careers in global finance. The finance students will also be matched with Lehman Brothers’ staffers in a mentoring program. “There is a clear need to increase participation of historically underrepresented groups in the global financial industry,” said Richard S. Fuld, chairman and chief executive of Lehman Brothers, in a statement. “We are in a unique position to partner with Spelman College to create a new model that will prepare women of African descent for successful careers and leadership in the corporate world."