September 27, 2007

Deutsche Bank commits $1 Million to education in New York

Grant to Create “Teachers as Leaders” Program Announced at Clinton Global

Deutsche Bank today announced a $1 million commitment to education in New York City as part of a program to develop and train teachers in underserved communities around the world. The grant will fund the first phase of the new “Teachers as Leaders” program, which was announced today at the Clinton Global Initiative (CGI) by the Deutsche Bank Americas Foundation and its partners, the City University of New York (CUNY) and the Schott Foundation for Public Education.

“Teachers are critical to the health of every society, and the private sector has a unique role to play in cultivating future generations of teachers,” said Seth Waugh, CEO of Deutsche Bank Americas. “As a global firm with a long-standing commitment to education, we’re proud to lead this effort to identify solutions that can be implemented in communities around the world.”

The Teachers as Leaders program is designed to promote teaching as a preferred career path and improve the talent development model for teachers globally. The program’s first phase will focus on New York City and will incorporate structured apprenticeships, mentoring, skills development and scholarships for  articipating  students. The New York program will be run in conjunction with the CUNY Black Male Initiative, with the New York City Department of Education helping to create the program design. A primary goal of the program will be to  address the lack of representation of black men at crucial points in the education system by helping them to succeed academically and ultimately serve as academic role models for all students. (According to the New York City Department of Education, black male teachers represent just 4.4 percent of the teacher workforce in the city.) Future phases of the program will focus on emerging nations and those recovering from war.

“The shortage of teachers is a global problem that manifests itself in different ways from Sub-Saharan Africa to our backyard in New York City,” said Gary Hattem, President of the Deutsche Bank Americas Foundation. “The Teachers as Leaders program will rigorously analyze the root causes in order to create a universal framework that can be adapted to communities around the world.”

Teachers as Leaders advisory board will include representatives from the Deutsche Bank Americas Foundation, Stanford University, the Columbia School of Social Work, the Bill and Melinda Gates Foundation, Call Me Mister, CUNY and the New York City Department of Education.

For further information contact:

Ted Meyer              
+1 212-250-7253
Media Relations, Deutsche Bank

Deutsche Bank

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