Who says Wall Streeters are just out for themselves? A group of financial hotshots set out to prove otherwise last month when they exchanged their suits and wingtips for gym shorts and high-tops and played in a basketball tournament to raise money for New York high school kids.
The eighth annual Net Gain fundraiser took place at Manhattan’s Basketball City complex. Sponsored by Youth, INC, a nonprofit group that provides financial support and operating advice to children’s charities, the event raised $575,000, which the organization will spend on discounted court time at Basketball City for 16 high schools without gyms.
“The kids absolutely love getting on the court and playing with these Wall Street professionals who support them all year,” says Steve Orr, a former Goldman Sachs investment banker who founded Youth, INC a decade ago. Rick Schnall, a partner at Clayton, Dubilier & Rice and co-chair of the event, took a break from playing in the tourney to honor Sean (P. Diddy) Combs for his charitable efforts on behalf of New York’s youngsters.
Charity doesn’t preclude competition, of course. After several grueling hours, a team from Bear Stearns and the School for Health Professions and Human Services defeated a Lehman Brothers/Landmark High School squad for the tourney title.
