Credit Suisse Americas Foundation Commits USD 1 Million to HERE to HERE to Launch Youth Apprenticeships through CareerWise New York

Credit Suisse announced a USD 1 million, three-year commitment through its Credit Suisse Americas Foundation (CSAF) to HERE to HERE, a Bronx-based career pathways nonprofit. The partnership will support CareerWise New York (CWNY), an employer-led, student-focused youth apprenticeship system based on a model widely used in Switzerland. The announcement was made by Credit Suisse’s Chairman of the Board of Directors, Urs Rohner, at a gathering of business, education and philanthropic leaders who traveled with CWNY to Zurich to learn more about the Swiss apprenticeship system.

The USD 1 million gift will support the launch of CWNY and its operations over the first 3 years. The contribution is representative of Credit Suisse’s Future Skills Initiative which enables young people, regardless of their socio-economic backgrounds, to access the skills and education they need to gain meaningful employment and fulfill their potential. In the Americas, Credit Suisse brings focus to opportunities like this that improve the pipeline between education and employment. In line with Credit Suisse’s Corporate Citizenship approach, its financial commitment will be complemented by the time and talents of its employees to further support CWNY’s mission.

“Credit Suisse has a long history of hiring and training apprentices in Switzerland and we know firsthand the value of apprenticeship programs for both business and society. I am delighted that our Citizenship work enables us to contribute to developing this model in New York in partnership with CWNY,” said Urs Rohner, Chairman of the Board of Directors of Credit Suisse Group.

CWNY, which is led by Barbara Chang, an executive vice president at HERE to HERE, launched last month with an event held at Credit Suisse’s U.S. headquarters in New York. 91 students from 19 public New York City high schools officially accepted three-year paid apprenticeship positions in IT, finance, and business operations with 17 businesses based in the Greater New York area. The first CWNY apprenticeships will begin at the start of the 2019-2020 academic year.

“The Swiss system of apprenticeships could be a game changer in New York and elsewhere in the US,” said Judy Dimon, founding chair of HERE to HERE. “If well designed, executed and scaled, an apprenticeship system goes a long way in filling the talent and skill gaps in the rapidly changing labor market while providing invaluable experience to young people.”

At the end of their three years, apprentices will have the opportunity to remain working with their employer, apply to postsecondary programs, or both, continuing to earn while they learn. Over three years, student apprentices are expected to earn over USD 30,000, be well-positioned to enter roles with starting salaries of at least USD 40,000, and obtain the essential soft skills required for the 21st century economy.

“As economies fluctuate and the pace of globalization and technological change accelerate, we see a growing number of young people not able to access quality education or meaningful employment. We are proud to partner with CWNY to provide access to both education and employment in a concurrent fashion to students who are the workforce of the future,” said Wilson Ervin, Chair of the Credit Suisse Americas Foundation.

CWNY was launched in deep collaboration with the employer members of the HERE to HERE Business Council, a multi-industry coalition of business leaders, the NYC Department of Education, the City University of New York, and CareerWise Colorado (CWC).

“HERE to HERE and the committed employers on our Business Council launched CareerWise New York to translate the success of the Swiss apprenticeship system to NYC and we are deeply honored that a world-renowned business like Credit Suisse has chosen to invest in its future with this generous grant,” said Abby Jo Sigal, CEO of HERE to HERE. “With the help of committed partners like Credit Suisse, we will scale this work to serve a meaningful percentage of NYC high school students and provide a valuable recruitment tool for employers.”

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About HERE to HERE
HERE to HERE is a Bronx-based nonprofit that unites employers, educators, and community-based organizations to connect young people to family-sustaining careers and create a thriving, inclusive economy. HERE to HERE supports people and institutions already developing career pathways and breaks down barriers between them. HERE to HERE creates and identifies partnerships, resources for new programs and policies that help employers identify the talent they need to thrive and ensure every student can develop the passion, experience, and professional network needed to succeed in a career of their choice.

Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ’Credit Suisse’). Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 46,200 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

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