Fireside Chat Looks to Sponsorship as Key Element in DEI Advancement

Nicsa’s Fearless Leadership Symposium hosted Byron Pitts, ABC correspondent: Bob Adams, Chief Operations Officer, Fidelity Investments; and Cinda Whitten, Head of Global Investment Operations, Nuveen for a Fireside Chat about the importance of DEI within the global Asset and Wealth Management industry. The trio provided insights as to how intentional sponsorship can move the needle on DEI and talent retention.

According to these thought leaders, here’s how to support a successful sponsorship:

1. Understand the Difference:
• While both mentorship and sponsorship are important, they serve different roles. Mentorship focuses on guidance and advice, whereas sponsorship involves advocating for someone’s career advancement.
• Organizations should develop and promote sponsorship programs alongside mentorship programs to advocate for and advance the careers of underrepresented employees.
2. Educate on Allyship:
• Continuous education on the importance of allyship should be provided to all levels of leadership to ensure broad support and the breakdown of existing barriers.
3. Promote Vulnerability in Leadership:
• Vulnerability is a crucial component of leadership, even in competitive industries. Leaders must create safe environments for open conversations and allow employees to bring their authentic selves to work.
• Leaders should model vulnerability by sharing their personal stories and challenges. This furthers an environment of trust and honesty, encouraging employees to bring their authentic selves to work.
4. Create Safe Spaces:
• Develop safe and inclusive spaces where employees feel comfortable discussing DEI issues and bringing their whole selves to work. This requires a proactive approach from leadership to invite and encourage such conversations.

The annual Fearless Leadership Symposium unites industry leaders to accelerate DEI in the Asset & Wealth Management Industry. The event is hosted by Nicsa’s Diversity Project North America.

For more DEI content, visit learn.nicsa.org/DEI 

About Diversity Project North America

The Diversity Project North America is Nicsa’s cross-company initiative that champions DEI as a strategic business priority within the asset and wealth management industry.

Through education, advocacy, and idea sharing, we promote the acceptance of diversity in all forms, the elimination of barriers and biases, and the creation of equitable opportunities.

We advance better business results for our member firms and positive long-term impact for the clients we all serve by fostering an industry where diversity is achieved, equity is the standard, and inclusion is celebrated.

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