Duke - The Fuqua School of Business

News Release

MAXCOR Pledges $1.25 Million for Leadership and Ethics Center at Duke

April 09, 2004

NEW YORK -- Maxcor Financial Group Inc., a New York-based institutional brokerage firm, has pledged a total of $1.25 million over the next five years to the Fuqua/Coach K Center of Leadership and Ethics (COLE) at Duke University, the university announced Monday. The gift is being made through the company’ charitable-giving arm, the Maxcor Foundation.

The center was announced last October and officially opened in January to advance leadership and ethics through research and education. It was established by Duke’ Fuqua School of Business in collaboration with the Duke Athletics Department and the Kenan Institute for Ethics at Duke.

The Maxcor gift is the largest COLE has received to date, according to COLE Faculty Director Sim Sitkin. “Maxcor’s support for COLE will serve several critical purposes that help further our mission,” he said.

The gift will help Fuqua provide all entering MBA students with an intensive experience in leadership, ethics and teaming. It also will fund the new executive-in-residence faculty position that Duke basketball coach Mike Krzyzewski holds and will support the establishment of the Maxcor Leadership Fellows program and the Maxcor Leadership Internship program at the center.

Maxcor will also be a sponsor of the Coach K & Fuqua School of Business Conference on Leadership to be held on the Duke campus Oct. 18-20, Sitkin said. “That will help Duke disseminate the message of ethically based leadership to a broad audience of business executives,” he said.

The announcement Monday was made at the New York offices of Maxcor and Euro Brokers during their third annual Charity Day, which was attended by Fuqua Dean Douglas T. Breeden. All brokerage revenues generated Monday by the firm’ New York, London, Mexico City and Stamford offices will be donated to the Maxcor Foundation and the firm’ Euro Brokers 9/11 Relief Fund.

“We cannot say enough about the important work the center is doing in educating tomorrow’ business leaders,” said Gilbert Scharf, chairman and CEO of Maxcor and a Duke alumnus. “Ethical leadership is the hallmark of Coach K and Dean Breeden, and it is an honor for us to add COLE, which we believe will become the leading location for this crucial training and research, to the list of charitable organizations we support.”

In addition to COLE, the Maxcor Foundation has chosen the Marine Corps-Law Enforcement Foundation, Columbia University Medical Center and the Royal Marsden Hospital in London for donations this year.

Sixty-one Euro Brokers employees were killed in their World Trade Center office Sept. 11, 2001. To date its relief fund has distributed more than $2.5 million to the families and financial dependents of its employees.
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Maxcor Financial Group Inc. (www.maxf.com), through its various Euro Brokers businesses, is a leading domestic and international inter-dealer brokerage firm specializing in interest rate and other derivatives, emerging market debt products, cash deposits and other money market instruments, U.S. treasury and federal agency bonds and repurchase agreements, and other fixed income securities. Maxcor Financial Inc., the firm’ U.S. registered broker-dealer subsidiary, also conducts institutional sales, trading and research operations in corporate bonds, municipal bonds, convertible securities and equities.