Greater NY: Bridging the Gap Between Private Sector Analysts and Public Sector Organizations
Nonprofit organizations often lack the necessary resources for in-depth financial analysis, while young bank professionals are on the lookout for meaningful work. Greater NY, a nonprofit organization, is effectively solving both these problems. Established in 2009, Greater NY matches early-career private sector professionals with public sector organizations and charities that require their expertise.
Greater NY’s Analyst Corps – A Win-Win Initiative
Greater NY’s Analyst Corps is a unique initiative that pairs junior analysts with nonprofits that are in need of their skills. As Alice Naude, executive director of Greater NY, puts it, “It’s not that [nonprofits] don’t have sharp business models. It’s that they often don’t have the teams to do the kinds of analysis that analysts at investment banks and private equity firms can do in their sleep.”
Alice Naude, Executive Director of Greater NY
Through the Analyst Corps, financial firms such as Centerview Partners, Lazard, General Atlantic, and Evercore have been paired with civic organizations like the Doe Fund, the Red Hook Initiative, and the New York City Housing Authority. Working pro bono, these analysts offer their expertise in areas such as data analysis, financial modeling, and strategic communications.
The Impact of Greater NY’s Initiative
The benefits of this pairing are fruitful for both parties involved. Nonprofits get much-needed assistance free of charge, while the employees of the banks gain invaluable experience and a chance to contribute to their communities. This sense of purpose has been found to be crucial to job satisfaction for 86% of Gen Zers and 89% of millennials, according to a survey conducted by consulting firm Deloitte. Tony Kim, co-president of investment banking at Centerview Partners, believes this initiative is not only about giving back using existing skills, but also about acquiring new ones. He states, “They’re giving back in a way that is using the skills they have, but they’re actually acquiring more skills as part of it.”
Tony Kim, Co-President of Investment Banking at Centerview Partners
These new skills include leadership. For instance, at Centerview, where clients are often large corporations working on significant M&A deals, early-career analysts don’t always get a chance to take the lead. However, their work with Greater NY offers them this opportunity.
Success Story: Greater NY and the New York City Housing Authority
The New York City Housing Authority (NYCHA), the nation’s largest public housing authority and New York City’s biggest landowner, is one of the beneficiaries of this initiative. Looking for new revenue generation methods, NYCHA considered installing electric vehicle chargers in its parking lots. The revenue from the charging fees would then be used to serve NYCHA’s residents. However, figuring out the logistics for such a project was a daunting task until Greater NY stepped in.
With the help of Chris Rota, an investment banking associate at Centerview, NYCHA was able to navigate the project’s complexities. After the research was completed, Rota helped build a model for the EV project and presented it to NYCHA’s chairman, James Rubin. Impressed with the results, NYCHA is now working on procurement for the initiative.
Kristina Berger, Director of the Analyst Corps at Greater NY
According to Kristina Berger, director of the Analyst Corps, the initiative will have served 28 nonprofits by the end of this year and expects to reach at least the same number in 2026. This not only indicates more instances of public and private sector collaboration but also demonstrates how young individuals can deepen their connection with their city. As Berger puts it, “It’s going to be another cohort of young New Yorkers who have put their skills to use, have been helpful and useful … and found another reason to love it here. I think the more people truly love it here, the better off the city is going to be in the long run.”
Source: Here
