NEW YORK, November 7, 2011 — The Goldman Sachs Group, Inc. (NYSE: GS) is marking Veterans Day through a series of initiatives aimed at helping bring veterans back into the workforce. Today the firm hosted U.S. Secretary of Defense Leon Panetta and CEOs and executives from American business for a roundtable on employment opportunities for veterans. Also today, Goldman Sachs Gives, the firm’s donor-advised fund, detailed more than $5 million in grants to organizations focusing on reintegrating veterans into the workforce.
“Our country owes a great deal to the thousands of men and women returning to civilian life from the armed forces,” said Lloyd C. Blankfein, Chairman and CEO of The Goldman Sachs Group, Inc. “Veterans have the experience and abilities to help our economy grow, and the business community is focused on helping them to find the jobs and opportunities that employ their skills.”
Goldman Sachs today hosted business and community leaders with Secretary of Defense Leon Panetta to discuss ways to create job opportunities for returning veterans. Lloyd Blankfein, along with CEOs and executives from American business, took part in the discussion with several veterans on what the private sector can do to help returning veterans get jobs and what the government can do to better prepare veterans for employment.
Additionally, last year, Goldman Sachs Gives, a donor-advised fund, announced a $20 million, five year commitment to support organizations working to reintegrate returning, wounded veterans into the civilian workforce as well as organizations providing support for military families. Through a core partner, The Mission Continues, community service fellowships were awarded that allow recipients the opportunity to continue to serve their country. In 2011 alone, 106 fellows in 30 states were awarded fellowships, and in a recent independent study, 86% of participants have transferred their military skills to civilian employment.
Over the course of 2011, Goldman Sachs Gives has supported other veterans organizations with over $5 million in grants. Goldman Sachs Gives’ investment in Vets Prevail and Rush University will support the national launch of Vets Prevail, an online mental health resource for returning veterans that is expected to touch over 10,000 veterans in its inaugural year. Goldman Sachs Gives is also supporting The Hadley School for the Blind’s new Blinded Veterans Initiative, which will provide curriculum and job-skills training for blinded vets as well as assist with their access to veterans’ benefits. Additionally, Goldman Sachs Gives provided backing for Wall Street Warfighters, whose mission is to identify, develop and place disabled veterans in careers in the financial services industry.
In a new partnership this year with DonorsChoose.org, Goldman Sachs Gives will support over 600 projects in military classrooms throughout the country to provide much needed supplies and valuable educational experiences, reaching over 15,600 children of active and former military service members.
Goldman Sachs Gives has supported a variety of other organizations with grants throughout the year. These organizations include Special Operations Warrior Foundation, Navy SEAL Foundation, Yellow Ribbon Fund, Children of Fallen Patriots Foundation, ThanksUSA and a variety of other grantees which each provide scholarships, financial aid or other support for military families.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Learn More: http://www2.goldmansachs.com/citizenship/goldman-sachs-gives/honoring-service-and-veterans/honoring-veterans-news.html