Weill Cornell Medical College Receives $150 Million

Weill Cornell Medical College Receives $150 Million

Sanford I. Weill, CEO of Citigroup, the multinational financial services company, and his wife Joan have donated $100 million to the New York City-based medical college of Cornell University that bears their names to help kick off the school's $750 million capital campaign. In addition to the Weills' gift, Maurice R. Greenberg, CEO of insurance giant American International Group, and his wife Corinne, together with the New York City-based Starr Foundation, have contributed another $50 million to the campaign.

According to Antonio M. Gotto, Jr., M.D., the dean of Weill Cornell, the money raised in the campaign will be used to recruit new faculty, support new and improved clinical programs, create new endowed funds for students and faculty, and pay for infrastructure upgrades and new facilities. Weill Cornell has expanded its research programs in recent years and is now seeking to apply its new discoveries to patient care. Specifically, the school's strategic plan calls for new clinical programs and expansion of existing programs in the areas of women's and children's health, heart disease, cancer, neurological disease, and aging diseases.

Including their most recent gifts, the Weills and the Greenbergs have donated more than $400 million to Weill Cornell and its hospital partner New York-Presbyterian Hospital. Mr. Weill is chairman of the medical college's board. Mr. Greenberg sits on the school's board and is also chairman emeritus of the New York-Presbyterian Hospital board. The Greenbergs' gift was made in conjunction with the Starr Foundation, which was established by Cornelius Vander Starr, the founder of American International Group.

"As partners in health care and academic medicine, New York-Presbyterian Hospital and Weill Cornell Medical College have a shared mission and commitment to excellence in patient care, research, medical education, and community service," said Dr. Herbert Pardes, president and CEO of the New York-Presbyterian Healthcare System. "These extraordinary gifts from two of the country's leading businessmen and philanthropists will serve to propel that mission in the years ahead."