Lehman Brothers Inc. today announced that Richard Fuld Jr., the firm’s chairman and CEO, will receive the Carnegie Hall Medal of Excellence in recognition of his arts philanthropy.

Fuld is the second recipient of the award; Kenneth Lewis, chairman, CEO and president of Bank of America, received the inaugural award in the 2005-2006 season.

“Carnegie Hall is delighted to present its second Medal of Excellence to Richard Fuld Jr.,” said Sanford Weill, chairman of Carnegie Hall’s board of trustees and honorary chair of the gala. “For over a decade, Dick’s firm leadership has contributed to the growth and prosperity of Lehman Brothers and maintained its standing as a top global finance firm. Lehman Brothers also boasts a strong heritage of arts philanthropy that continues to enhance the cultural vibrancy of New York and cities around the world.”

“At Lehman Brothers we believe that we all need to be inspired. The arts not only enrich our lives, but also they challenge our thinking, broaden our perspective and spark our creativity,” said Fuld. “I’m truly honored to receive this award from Carnegie Hall such a highly regarded institution that has long been one of the cornerstones of the cultural life of New York.”

The award will be presented to Fuld at a gala benefit at The Waldorf-Astoria on January 29.

Carnegie Hall’s Annual Medal of Excellence Gala is chaired by Sallie Krawcheck, chief financial officer of Citigroup, and Jerry Speyer, president and chief executive officer of Tishman Speyer.

Fuld has been chairman of the Board of Directors of and Lehman Brothers since 1994 and chief executive officer of the company since 1993. He is also chairman of Lehman Brothers’ executive committee. He was president and chief operating officer of the firm from 1993 to 1994, and president and co-CEO of the Lehman Brothers division of Shearson Lehman Brothers Inc. from 1990 to 1993. Fuld was a vice chairman of Shearson Lehman Brothers from 1984 until 1990 and has been a director of Lehman since 1984. He joined Lehman Brothers in 1969.

Fuld also serves on the Board of Directors of the Federal Reserve Bank of New York and is a member of the executive committee of the Board of Directors of The Partnership for New York City. He is a member of Business Roundtable and The Business Council. In addition, he serves on the Board of Trustees of Middlebury College and on the Board of Directors of the Robin Hood Foundation.