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Manhattan Borough President Gale Brewer Presides Over Ribbon-Cutting Ceremony to Officially Open State-of-the-Art Trading Floor



$159,000 in capital funds from Manhattan Borough President for modernization of Subotnick Financial Services Center/Wasserman Trading Floor

Ribbon Cutting Ceremony

From left: Stuart Subotnick, Sandra Wasserman, Manhattan Borough President Gale Brewer and President Mitchel Wallerstein cut the ribbon to officially open the upgraded Wasserman Trading Floor and Subotnick Financial Services Center that is used by thousands of students.

 

NEW YORK, NY- September 21, 2016-Manhattan Borough President Gale Brewer, along with Baruch College President Mitchel B. Wallerstein, presided over a ribbon-cutting ceremony on Thursday, September 15 to open an upgraded, state-of-the-art financial trading floor at Baruch College.

The Borough President’s Office provided Baruch College with $159,000 in capital funds to support the much-needed upgrades to the Subotnick Financial Services Center/Wasserman Trading Floor that provides essential experiential learning opportunities for thousands of Baruch students studying economics, finance, journalism and technology.

“We are extremely fortunate to have a wonderful friend, Borough President Gale Brewer, who provided the funding for a major technology overhaul,” said Baruch College President Mitchel Wallerstein.

The upgrades include LED tickers, LED wall boards and CRT flat screens for the facility that features 74 work stations, real-time market data feeds and financial analytics tools. The Center hosts more than 200 class sessions, dozens of free workshops, and serves as an open lab to thousands of Baruch students every semester.

“Our students will benefit from access to tools that they will soon use in real-world trading and investment environments.” President Wallerstein said.

“You are the premiere business school,” said Manhattan Borough President Gale Brewer. “The fact that this center is here, that you are able to compete nationally, that the students are trained to do so is what should happen. It makes us so proud that you are able to be so successful.”

Borough President Brewer continued, “Whether you are pursuing economics, finance, journalism, technology or public administration, you are getting your hands on professional data systems and analytical software, incredible opportunities that will give you a chance to compete everywhere.”

“Borough President Brewer has been an incredible ally to CUNY as both a New York City Council Member and Manhattan Borough President. Her commitment to leveling the technological playing field will allow Baruch students to receive hands-on experience in a state-of-the art Financial Services Center.” Said Daniel Dornbaum, Baruch’s Undergraduate Student Government President who was representing the College’s student body.

Two lead donors to the Center - Stuart Subotnick ('62), Vice Chairman and Chief Executive Officer of Metromedia International Group, Inc., and Sandra Wasserman ('55) attended the ribbon-cutting ceremony to celebrate with the students. Subotnick provided the seed money for the facility, which was opened in 2000, creating the only business school resource of its kind in the New York area at the time. The late Bert Wasserman (’54), then-retired executive vice president and CFO of Time Warner, Inc. and his wife Sandy later provided a major gift to support the ongoing activities of the simulated trading floor and faculty projects.

“Baruch gave us a fabulous education, and we made the most we could of it. Without Baruch giving us the elements to succeed, we would have never gotten where we did,” said Subotnick. His sentiments were echoed by Wasserman who added, “We are both very proud that we can enhance the education that Baruch is able to offer.”

The Subotnick Financial Services Center/Wasserman Trading Floor has served the city’s business community in addition to its undergraduate and graduate students. Both the New York Stock Exchange and NASDAQ have used the Center to train their staffs and numerous corporations have conducted workshops and training sessions. In 2001, two financial firms turned to the Center so that they could continue trading after being displaced by the terrorist attacks on the World Trade Center.

 

 

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About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 18,000 students, who represent 164 countries and speak more than 129 languages. Ranked among the top 15% of U.S. colleges and the No. 4 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world. For more about Baruch College, go to http://www.baruch.cuny.edu/.

 

MEDIA CONTACTS:

Suzanne Bronski, (646) 660-6093, Suzanne.bronski@baruch.cuny.edu

Evelisse Luciano, (646) 660-6134, evelisse.luciano@baruch.cuny.edu
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