May 2006 Valedictorian awarded prestigious fellowship in London at Goldman Sachs

NEW PALTZ — Fitzarnaz (Fitz) Vaudeville Drummond, the May 2006 Valedictorian of the State University of New York at New Paltz, has been awarded a Corporate

Fitzarnaz (Fitz) Vaudeville Drummond, the May 2006 Valedictorian of the State University of New York at New Paltz has been awarded a Corporate Treasury Fellowship at Goldman Sachs in London through the City Fellowship Program.

Treasury Fellowship at Goldman Sachs in London through the City Fellowship program.

Drummond sailed through a demanding review process, according to Dr. Ray Raymond, a former British diplomat and co-founder/executive director of the City Fellowship program, and was chosen as the top candidate from a group of 18 finalists from across the country.

The goal of the program is to enable young American minority financiers to gain experience and knowledge of global capital markets with Goldman Sachs investment bank. All applications for fellowships – which encompass a completed application form, an academic transcript, an essay, strong letters of recommendation and an hour-long interview, are reviewed by the City Fellowship executive committee, according to Raymond.

"Fitz Drummond sparkles. He is one of the most exceptional City Fellows we have ever chosen,” said Raymond. “He has that truly rare combination of intellectual brilliance, academic and personal discipline, outstanding professional expertise, grace, modesty and maturity. His fellowship in Goldman Sachs’s Corporate Treasury Department will help him realize his goals by enabling him to learn how the world’s leading investment bank works."

Raymond said the fellowship is initially a one-year, performance-based contract that offers a unique opportunity to get in-depth knowledge of global markets with Goldman Sachs in London, the world’s most international financial services center. After the first year, those fellows who are hired permanently by Goldman can stay with the firm in London for up to five years.

The Corporate Treasury Department works closely with the CFO, treasurer and other members of senior management at Goldman Sachs to manage the firm’s funding, liquidity, capital and its relationships with creditors and rating agencies. The department plays a key role in company-wide strategic and analytical projects, providing a unique insight into the firm’s business activities and performance, said Raymond.

Originally from Jamaica, Drummond moved to the United States (Stuyvesant, N.Y.) in 2001. A double major in finance and management, Drummond spent his final summer during college as an intern in New York City at Citigroup, the largest financial services company in the world.

Since graduating, Drummond has been employed by Mediacom Communications Corporation as a financial analyst.

While at New Paltz, Drummond served as a resident assistant and president of the Residence Hall Student Association (RHSA). He also received the SUNY Chancellors Award for Student Excellence and was inducted into the Sigma Beta Delta International Honor Society for business, management and administration.

Drummond is also an alumnus of Management Leadership for Tomorrow, a national organization run by management executives to introduce students to the financial services industry. He has participated in Starting Block, a six-month program that promotes social responsibility in business and holds workshops at prestigious universities; and is an alumnus of Sponsors for Educational Opportunities, a national organization that provides minority students with internships and networking opportunities with Wall Street banks and other prestigious firms.

College President Steven Poskanzer said, "Fitz is, quite simply, one of New Paltz’s most impressive and likable graduates in recent years. We expect his career will be meteoric, and we know he will continue to do his alma mater proud. We are honored that Goldman Sachs has chosen him for this fellowship."

The City Fellowship was inspired by Martin Luther King, Jr. and Robert Kennedy’s visions of economic empowerment for people of color. Raymond said: "What we are doing is adapting Dr. King and RFK’s vision for the globalized economy of the twenty first century."

Dr. Raymond is also an associate professor of history and government at SUNY Ulster and adjunct professor of comparative politics at West Point.

For more information on the City Fellowship program, visit www.cityfellowships.com or call the City Fellows at (845) 705-4679.