January 18, 2011

BNY Mellon Donates $1 Million to Pitt for Corporate Social Responsibility Programs and Education


10-year grant administered through the David Berg Center for Ethics and Leadership in Pitt's Joseph M. Katz Graduate School of Business and College of Business Administration

PITTSBURGH, January 18, 2011 — BNY Mellon, a leading global asset management and securities services company, today announced a 10-year, $1 million commitment for the development of corporate social responsibility (CSR) programs and education at the University of Pittsburgh. BNY Mellon employs more than 7,500 people in Southwestern Pennsylvania.

BNY Mellon's $1 million grant will fund student fellowships, faculty research fellowships, and annual CSR forums and case-study competitions. The programs will be administered through the University's David Berg Center for Ethics and Leadership, part of the Joseph M. Katz Graduate School of Business and College of Business Administration. The Center promotes the understanding and development of ethical business leadership and supports research in ethics and leadership.

"This grant exemplifies our company's focus on creating positive and measurable change through industry-leading governance, employee, community, and environmental initiatives," said Vincent V. Sands, chairman of BNY Mellon of Pennsylvania. "Our commitment to the University of Pittsburgh will support groundbreaking research and help students integrate socially responsible principles into their leadership training. By developing a keen understanding of corporate social responsibility, they will be better prepared for the leadership opportunities of tomorrow," Sands added.

"World events have shown that business education needs to devote more attention to corporate social responsibility," said University of Pittsburgh Provost and Senior Vice Chancellor Patricia E. Beeson. "Students must also have an ethical compass that helps them discern appropriate actions in an increasingly interconnected world where laws and conventions differ widely across nations and financial incentives encourage risk taking. Attention to responsibility and ethics in a diverse world is an important core aptitude that the University wants to instill in the future leaders it prepares."

For the next decade, this BNY Mellon grant to the Katz School will provide:

  • Three fully funded BNY Mellon CSR MBA fellowships, enabling MBA students and small- and medium-size regional businesses to work together on enhancement, development, implementation, and analysis of CSR initiatives;
  • Two BNY Mellon Business of Humanity fellowships, where students will use technology and research to solve such persistent world problems as providing clean water, the adequate availability of electricity, or sufficient work opportunities;
  • Six BNY Mellon Learning Through Experience fellowships awarded annually for the purpose of recruiting top-quality, full-time MBA students who are interested in CSR;
  • Five two-year BNY Mellon Faculty Research fellowships established to encourage innovative CSR-related thinking and faculty research; and
  • An annual CSR forum and case competition.

The David Berg Center for Ethics and Leadership, established in the fall of 1998 through the generosity of 1926 Pitt School of Law graduate David Berg, focuses on the education of business students through a unique certificate program in leadership and ethics that immerses students in the principles of ethics and leadership. It also supports important research into the area of ethics and leadership by faculty and students. It actively involves members of the business community by inviting them to share their expertise in the classroom and in strategic planning for the center, as well as through outreach events such as a speaker series and the regional American Business Ethics Awards.

The mission of the Joseph M. Katz Graduate School of Business is to transform the corporate and academic worlds by preparing its graduates to add value from their first day on the job. Katz offers a number of MBA formats, as well as a Master of Science in Accounting program and one of the world's elite PhD programs. Katz alumni number more than 19,000, represent nearly 90 nations, and include prominent leaders in both business and education.  

The College of Business Administration awards the Bachelor of Science in Business Administration degree with majors in accounting, finance, marketing, general management, and global management. Certificate programs in international business as well as leadership and ethics also are offered. For more information, visit www.business.pitt.edu.

BNY Mellon's (NYSE: BK) global corporate social responsibility program focuses on strong governance, comprehensive reporting, employee engagement and diversity, community support, environmental sustainability and supply chain responsibility. As part of this focus, the company's Community Partnership program supports employee volunteer efforts and matches employee contributions, and its Powering Potential philanthropic efforts help meet basic needs and promote workforce development. For more information, visit www.bnymellon.com/csr.