Citi CEO Mike Corbat has become the latest Wall Street heavyweight to prove that bankers do have hearts, and marketing savvy, by taking the ALS Ice Bucket Challenge.
In a video posted on Facebook
, Corbat, wearing a cap, braved the ice in support of research into amyotrophic lateral sclerosis, also known as Lou Gehrig's disease. He then nominated Citi co-president James Forese, Berkshire Advisors boss Jay Kemmerer and skier Billy Demong.
Not normally associated with philanthropic excess, senior bankers have enthusiastically embraced the Ice Bucket Challenge. Earlier this week Jefferies Group CEO Richard Handler uploaded a video of his effort to YouTube, following in the footsteps of TD Bank chief Tim Hockey, UBS boss Sergio Ermotti, and Wells Fargo's John Stumpf.
Not everyone is onboard, though. One Wall Street veteran to duck the challenge is Carl Icahn, who made his excuses on Twitter after being called out by Handler:
The Visible Banking
site has been busy compiling a YouTube playlist of all the major finance players to take up the challenge:
Earlier this week, the ALS Association revealed that over the last month the viral challenge has helped it raise $88.5 million in donations, compared to $2.6 million during the same time period last year.