NEW YORK--(BUSINESS WIRE)--Phoenix Partners Group, a leading interdealer broker with offices in New York, London, Switzerland and Paris, announced today the creation of The Phoenix Foundation, a charitable non-profit organization dedicated to providing financial support and other resources to local charities in the communities where Phoenix Partners operates.
The Phoenix Foundation will provide financial assistance, such as direct donations, grants, and scholarships to underfunded charities where the Foundation believes it can have a meaningful impact on the quality and continuation of the services and programs those charities provide. While any qualifying charity may be considered, the Foundation is keenly interested in those dedicated to helping underserved groups, namely underprivileged children, at-risk teens, and the elderly. In addition to financial donations from the Foundation, employees of Phoenix Partners Group will donate their time and energy to provide hands-on assistance to help selected charities with special projects.
"Phoenix Partners has a strong tradition of providing financial assistance to local charities so that they may continue doing the extraordinary work they do, and the creation of The Phoenix Foundation is the right 'next step' in this ongoing commitment to philanthropy," said Marcos Brodsky, co-founder and Managing Director of Phoenix Partners. "The launch of The Phoenix Foundation is a major milestone in our corporate history, and a moment of personal pride for everyone at the firm."
The Phoenix Foundation will be funded solely through contributions from Phoenix Partners Group, which will also pay all of the Foundation's administrative costs. In addition, some of Phoenix’s most valued business partners – Nixon Peabody LLP (legal), JH Cohn LLP (accounting) and Starkman & Associates (public relations) – have graciously donated their time and services to the Foundation. As a result, 100% of the charitable contributions the Foundation receives will be made available to deserving charities. During the first quarter of each year, Phoenix Partners holds a charity day during which all revenues and commissions earned worldwide that day are donated to philanthropic causes. These proceeds from this annual fundraising event will be the major funding source for the Foundation.
Charities to benefit from The Phoenix Foundation will be selected from multiple sources. In keeping with Phoenix Partners Group's strong history of encouraging employee participation and engagement in the firm's philanthropic activities, names of potential charities that fit the Foundation's giving parameters will be sought from employees. The Foundation's board members will also work independently to identify charitable organizations for consideration. Additionally, applications will be made available to qualifying charity groups by request.
Members of The Phoenix Foundation's Board of Directors are:
- Akasha Absher (Chair): Senior Analyst / Lucidus Capital Partners
- John Bolton: Chief Operating Officer / Phoenix Partners Group LP
- Marcos Brodsky: Founding Managing Director, Head of Index and Single Name CDS Broking / Phoenix Partners Group LP
- Anthony Dinatale: Director / Head of CDS Options / Phoenix Partners Group LP
- Thomas Foxcroft: Managing Director / Phoenix Partners Group LP
- Richard Langan: Partner / Nixon Peabody LLP
- Sean McNally: Managing Director / Phoenix Partners Group LP
- Eric Starkman: Founder and President / Starkman & Associates
- Nicholas Stephan: Founding Managing Director and CEO / Phoenix Partners Group LP
The Phoenix Foundation is in the process of applying to the I.R.S. to be recognized as a tax-exempt 501(c)(3) non-profit organization and will apply to be registered with the State of New York Attorney General’s Charities Bureau as a charitable organization.
ABOUT PHOENIX PARTNERS GROUP
Founded in 2005, Phoenix Partners Group is a leading brokerage firm with offices in New York, London, Switzerland and Paris. In its credit and equity businesses, Phoenix Partners Group serves some of the world's largest banks, dealers and institutional clients; in its commodities business, Phoenix Partners Group offers tailored solutions to traders, producers, and governmental entities. Through its subsidiary, Phoenix Greenworks Capital Limited, Phoenix Partners Group is an innovator in developing renewable and sustainable energy projects around the world. Phoenix Partners Group prides itself on its unique corporate culture that emphasizes client service and promotes teamwork. For more corporate and market information, please visit www.phoenixpartnersgroup.com.