Jeffrey Vanderbeek, whose name is synonymous with Newark, New Jersey’s Prudential Center, and the New Jersey Devils hockey franchise, received the NJIT President’s Medal for Lifetime Achievement at Celebration 2007. The annual black-tie event held earlier last month at the Somerset Palace, drew 300 supporters and raised almost $400,000 to support endowed scholarship funds for NJIT students. Since 1995, this gala evening of dinner and dancing has raised nearly $3 million. Celebration honors individuals for achievements of great benefit to New Jersey and the nation, and organizations that have been exceptional in their commitment to the university's mission.
Vanderbeek exemplifies that spirit.
The Warren resident became chairman/managing partner of the New Jersey Devils hockey franchise in June 2004, having previously served as a member of the Devils’ ownership group since summer 2000. He also is president and chairman of Devils Renaissance Development LLC, the affiliate of the Devils responsible for designing, developing and constructing Prudential Center.
In 2004, he resigned his position as an executive vice president of Lehman Brothers, which he had joined in February 1984 as managing director and chief operating officer in the fixed income central funding department. He became chief operating officer of the fixed income government department in May 1993 and chief operating officer of the fixed income derivative department in June 1993.
In June 1996, Vanderbeek was promoted to head the global fixed income division. In 2000, he was named head of the capital markets division until assuming his role of office of the chairman in June 2002 where he was the head of global risk management, private equity and strategy for Lehman Brothers Holdings Inc. He also served on Lehman Brothers’ Executive and Operating Committees. Prior to joining Lehman Brothers, he worked at Donaldson Lufkin & Jenrette.
Vanderbeek serves on committees and boards, including the Boston College Wall Street Council; The Opportunity Newark Project; the Dorothy Rodbell Cohen Foundation for Cancer Research; St. Benedict’s Preparatory School; The Newark Alliance; and the Boys & Girls Club of Greater Newark.
Vanderbeek received his bachelor’s of science degree from Bloomfield College. Married with three children, he devotes much time to youth sports organizations in his hometown of Warren.
For more than 125 years, the institution historically known as New Jersey Institute of Technology has enabled talented young men and women to embark on careers in a broad range of technological, scientific and design fields. Generations of NJIT alumni have risen to prominence in the private and public sectors, realizing their full promise as leaders and innovators. NJIT is dedicated to making this opportunity available to as many outstanding applicants as possible, regardless of their financial circumstances. With the assistance of concerned supporters who share this vision for the future, NJIT will continue to nurture the aspirations of students whose personal success is vital for the well-being of our home state, and nation as a whole and the global community.