Investment banking firm Financo Inc. has launched The Financo Scholarship Fund at the Fashion Institute of Technology, in recognition of Joyce Brown, who was recently honored for her 10th anniversary as president of FIT at Financo's 18th Annual Chief Executives dinner.
Scholarships will be awarded to students pursuing full-time bachelor's degrees at FIT, who exhibit a strong commitment to the fashion industry and excel in design or business.
Financo's goal is to raise $1 million for the endowed scholarship, which was established with an initial gift of $150,000 in contributions from Financo, friends and colleagues.
"We designed The Financo Scholarship Fund to recognize students who demonstrate a unique passion for fashion and business," said Gilbert W. Harrison, chairman and chief executive officer of Financo. "FIT has been a critical resource for the fashion and
design-related industries for over 60 years. And today, FIT's role in helping these industries compete in a global environment is more crucial than ever."
Under current criteria for The Financo Scholarship Fund, which will be awarded prior to each fall semester, students who wish to be considered must be: committed to fashion and excellence in either a design or business major; be matriculated full time, with 12 credits or more in a bachelor of fine arts or science program; have a 3.0 grade point average or higher, and demonstrate financial need.
At the Financo dinner, Harrison spoke of his work with Brown and FIT through his role as co-chairman of the Educational Foundation of FIT, a role he shared with John Pomerantz, former chairman of The Leslie Fay Cos.
"Among Joyce's significant contributions...[she strengthened] FIT's faculty and increased its full-time ranks by 20 percent, added diverse and innovative programs [and] established cooperative international partnerships, a much needed campus expansion project," Harrison told the dinner attendees.
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