The National Association for the Advancement of Colored People (NAACP) and the Money Management Institute (MMI) Join Forces To Place African American Students
May 23, 2007 (Press Release) --
Washington, D.C., May 23, 2007 – A ground-breaking new program is designed to place outstanding African American students in intern positions at some of the nation’s premier financial services firms this summer and beyond. The National Association for the Advancement of Colored People (NAACP) and The Money Management Institute (MMI) jointly announce the Gateway to Leadership program today.
Gateway to Leadership officially launches Monday, June 4, aiming to prepare students–many from historically black colleges and universities–for leadership roles in the financial services industry and their communities long after their internships are complete.
Gateway to Leadership–conceived by Brinker Capital founder Charles Widger, who is a member of MMI’s Board of Governors--places African American students in the financial services field, where African Americans have traditionally been underrepresented.
“Without a diverse employee pool that includes minority executives and managers, and absent sincere outreach efforts and adoption of best practices that cut across racial lines in the new global environment, corporations will never be as profitable as they may hope,” said NAACP Interim President & CEO Dennis C. Hayes. “There is value in diversity. The Gateway to Leadership experience and the relationships that are formed as a result will be immeasurable to these young people and our greater society.”
The Securities Industry Association’s 2005 Report on Diversity, Strategy, Development and Demographics, reports that only 2 percent of the retail brokers and 3 percent of the sales force in securities firms are African American. And a mere three African Americans hold top positions in Fortune 100 companies today.
“A distinguishing feature of the Gateway program is MMI’s support of a networking infrastructure to enable the student interns to communicate among themselves throughout their careers,” said MMI President Christopher L. Davis. “We’ll provide social networking services to improve the communication and collaboration of students, their summer co-workers and mentors and the companies supporting the program so they can stay connected to the Gateway community for as long into their careers as they wish.”
“I hope that 10 years from now, the Gateway students of 2007 look forward to learning who their successors are and are willing to advise them as they take their first career steps,” Davis added. “In this way, we’ll help Gateway become a powerful and prestigious alumni organization.”
Gateway to Leadership selected 19 undergraduate students from an initial pool of 50 based on recommendations made by the business school deans of their respective institutions. The interns, half of them women, are students from Bennett College, Florida A&M University, Hampton University, Howard University, Grambling State University, Southern University and University of the Virgin Islands. Hosting firms include: A.G. Edwards, Bank of America, Brinker Capita
Gateway to Leadership officially launches Monday, June 4, aiming to prepare students–many from historically black colleges and universities–for leadership roles in the financial services industry and their communities long after their internships are complete.
Gateway to Leadership–conceived by Brinker Capital founder Charles Widger, who is a member of MMI’s Board of Governors--places African American students in the financial services field, where African Americans have traditionally been underrepresented.
“Without a diverse employee pool that includes minority executives and managers, and absent sincere outreach efforts and adoption of best practices that cut across racial lines in the new global environment, corporations will never be as profitable as they may hope,” said NAACP Interim President & CEO Dennis C. Hayes. “There is value in diversity. The Gateway to Leadership experience and the relationships that are formed as a result will be immeasurable to these young people and our greater society.”
The Securities Industry Association’s 2005 Report on Diversity, Strategy, Development and Demographics, reports that only 2 percent of the retail brokers and 3 percent of the sales force in securities firms are African American. And a mere three African Americans hold top positions in Fortune 100 companies today.
“A distinguishing feature of the Gateway program is MMI’s support of a networking infrastructure to enable the student interns to communicate among themselves throughout their careers,” said MMI President Christopher L. Davis. “We’ll provide social networking services to improve the communication and collaboration of students, their summer co-workers and mentors and the companies supporting the program so they can stay connected to the Gateway community for as long into their careers as they wish.”
“I hope that 10 years from now, the Gateway students of 2007 look forward to learning who their successors are and are willing to advise them as they take their first career steps,” Davis added. “In this way, we’ll help Gateway become a powerful and prestigious alumni organization.”
Gateway to Leadership selected 19 undergraduate students from an initial pool of 50 based on recommendations made by the business school deans of their respective institutions. The interns, half of them women, are students from Bennett College, Florida A&M University, Hampton University, Howard University, Grambling State University, Southern University and University of the Virgin Islands. Hosting firms include: A.G. Edwards, Bank of America, Brinker Capita
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