JPMorgan Chase is endowing a scholarship in the memory of the late Jimmy Lee, the bank’s beloved vice chairman and one of Wall Street’s top rainmakers.
The $US1 million scholarship, called the “Jimmy Lee Fund,” will help pay for the tuition of low-income students attending inner-city Catholic high schools, the release said.
“This scholarship fund is a tribute to Jimmy’s character, huge heart and generosity to those who were underprivileged or just needed a helping hand. It will provide future generations with a good education and the chance for a more hopeful future,” JPMorgan’s CEO Jamie Dimon said in a statement.
Last month, the legendary investment banker unexpectedly died from a heart attack while exercising in his Darien, Connecticut, home. He was 62.
Inner-City Scholarship Fund and JPMorgan Chase & Co. today announced a $US1 million scholarship endowment in memory of Jimmy Lee, the former Vice Chairman of JPMorgan Chase & Co. and former head of its Investment Bank, who passed away at the age of 62 in June. Jimmy was a devoted supporter of Inner-City’s mission to provide a quality Catholic school education to the children of New York.
The endowment, known as the “Jimmy Lee Fund,” will be used to help cover tuition for eligible low-income students attending inner-city Catholic high schools within the Archdiocese of New York. Established by a $US1 million donation from JPMorgan Chase’s foundation, the scholarship will be offered through Inner-City, New York City’s leading non-profit organisation providing tuition assistance for students going to these schools. The endowment builds on donations already provided by Jimmy’s friends, family and colleagues to the Inner-City Scholarship Fund following his death.
“Jimmy’s four decades of dedicated service go well beyond the walls of JPMorgan Chase,” said Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co. “This scholarship fund is a tribute to Jimmy’s character, huge heart and generosity to those who were underprivileged or just needed a helping hand. It will provide future generations with a good education and the chance for a more hopeful future.”
Jimmy’s dedication and generosity to Inner-City for over two decades enabled dozens of underserved children to attend and graduate from the city’s high-performing Catholic schools. He served on Inner-City’s Board of Trustees for six years and was an active member of the organisation’s Development Committee. He also founded Inner-City’s Corporate Committee which has engaged countless New York City companies and raised millions of dollars in scholarship support. In 2010, Jimmy and his wife Beth served as chairs of Inner-City’s annual gala, which raised over $US1 million. Most recently, in December 2014, Lee served as co-chair of Inner-City’s Award Dinner, raising a record $US2.3 million for the organisation.
“Jimmy was a steadfast supporter and true friend of Inner-City,” said Susan George, Executive Director of Inner-City Scholarship Fund. “He is greatly missed, but we know his legacy and commitment to touching young lives will live on with this endowment.”
Jimmy worked for JPMorgan Chase for nearly 40 years. He passed away on June 17, 2015 and is survived by his wife Beth and three children. Donations to the Jimmy Lee Fund can be made at www.innercityscholarshipfund.org/donate_jimmy_lee.cfm.