Boston, MA – June 16, 2021 – Nicsa is pleased to announce the winners of its Rising Star Program, a new mentorship and awards program aimed at providing networking and career development opportunities to diverse, aspiring leaders in the asset management industry. Read “Nicsa’s Diversity Project North America Launches DEI Mentorship and Awards Program.”
Nicsa’s Diversity Project North America recognizes the importance of supporting emerging leaders by creating a program that not only provides recognition and exposure for diverse employees, but develops and hones the skills critical for retention and advancement of valued talent within the industry.
The Winners are:
Rising Stars were recognized at the Fearless Leadership Symposium, hosted by Nicsa's Diversity Project North America on June 16-17, 2021.
In addition, each Rising Star will receive career coaching via a nationally recognized leadership development program; networking opportunities with senior leaders from Nicsa member firms; and invitations to specialized inclusive leadership training.
The Rising Star Program, as part of the Fearless Leadership Symposium, is planned to be an annual program. Questions about the Program, the Symposium, or how to join the Diversity Project North America can be sent to [email protected].
About Diversity Project North America
The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
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Nicsa’s Fearless Leadership Symposium – the first and only national conference focusing solely on Diversity, Equity and Inclusion (DEI) issues specific to the global asset management and fund industry – is set to take place June 16-17. The program will bring together senior business executives to explore how inclusive leadership can enhance productivity, promote growth, and impact the bottom line.
Attendees will hear from industry visionaries via powerful keynotes, interactive panel discussions, and succinct “Lightning Talks” aimed at empowering business leaders to “own” DEI issues and embed inclusion into the day-to-day fabric of how they run their businesses — ideals synonymous with Nicsa’s Diversity Project North America (DPNA).
Featured speakers include:
Sandy Bolton (Moderator)
Managing Director, Head of Managed Investments - Investment Solutions, Bank of America Merrill Lynch
Marc Brookman
Chief Executive Officer, Schroders North America
Mandell Crawley
Chief Human Resources Officer, Morgan Stanley
Sharon Epperson (Moderator)
Senior Personal Finance Correspondent, CNBC
George Gatch
Chief Executive Officer, J.P. Morgan Asset Management
Shelly Heier
President, Senior Consultant, Verus Investments
Kim Hyland (Moderator)
Managing Director, Head of US Relationship Management Team, MFS Investment Management
Lisa Jones
Head of the Americas, President and Chief Executive Officer, Amundi US, Inc.
Frieda Lewis
Chief Commercial Diversity Officer, Broadridge Financial Solutions
Jun Li
Co-Leader Americas Wealth & Asset Management Sector, EY
George Madrigal
Founder and Chief Executive Officer, Penserra
Cassie McCarthy
Manager, EY’s Wealth and Asset Management Consulting Practice
Angela Miller-May
Chief Investment Officer, Chicago Teachers’ Pension Fund
Kristi Mitchem
Chief Executive Officer, BMO Asset Management
Justine Phoenix (Moderator)
VP, Distribution & Broker Dealer Engagement, Head of Diversity Project North America, Nicsa
Hiren Shukla
Director - Automation & Innovation, Neuro-Diverse Center of Excellence, EY
Shundrawn Thomas
President, Northern Trust Asset Management
Sue Thompson
Head of Americas Distribution for SPDR ETFs, SSGA
Kavya Vaghul
Senior Director of Research, JUST Capital
Richard Weil
Chief Executive Officer, Janus Henderson Investors
George Wilbanks (Moderator)
Managing Partner, Wilbanks Partners, LLC
J. Womack
Managing Director - Investment Products and Services, SEI
Shawn T. Wooden
Connecticut State Treasurer
Paul Zettl
Head of Global Marketing, Chief Marketing Officer, Cohen & Steers
Click here to preview the two-day agenda, Registration for the event is at the firm level, with unlimited registrations per corporate pass. Check here to see if your firm is registered, or contact us to initiate a corporate registration.
No one could have predicted the upheaval that 2020 would bring. But organizations across the investment management industry nonetheless stepped up to ease the transition to remote workforces.
Nicsa members took a deep dive into the most recent policy and process challenges that HR, operations, and client relations teams are overcoming during a recent #WebinarWednesday event on the topic, titled, “Return to the Office - The Future of the Workforce.”
Nicole Callies, Director of Business Development, Mars SalesFocus Solutions, moderated the event, which featured experts from Capital Group | American Funds, J.P. Morgan Securities Services, and Ultimus Fund Solutions. (Nicsa members can replay an archived version of the webinar here). Each speaker shared a unique pre-and post-pandemic experience.
“My firm already had the capability to work remotely at the start of the pandemic,” Callies said. “But, since we have many individuals in both the San Francisco area and India, it was still a lot to handle logistically within our small company.”
HR Considerations
Others faced different challenges.
Heather Schwab, Executive Vice President and Chief Human Resource Officer at Ultimus Fund Solutions, said her firm focused on navigating barriers to relationship-building as lines between home and office became increasingly blurred.
“We did not want to lose sight of relationships,” Schwab said. “It was definitely challenging. We had to make significant shifts because we were accommodating working parents — many of whom had to take care of their kids at home. We let them know that we were flexible; that we understood their challenges.”
When it got to the point where they weren’t taking time off, Ultimus helped employees regain control of their work-life balance.
“We had to make sure that people took PTO, and that they were logging out at an appropriate time each day,” she said. “Burnout was a real concern.”
Schwab’s team made hundreds of phone calls to talk through the situation with both managers and associates. “The key to any relationship, including your working relationship, is communication,” she said. “We let them know we were there for them.”
Sales Strategies
Sharing his perspective from the client side, Paul DeSalvo, Client Executive, Asset Managers Sales at J.P. Morgan Securities Services, said the sales landscape remains in a state of evolution.
“I don’t think anyone has the answers right now,” DeSalvo said. “What I can say is that, in the last several weeks, the sentiment has changed in the U.S. There’s been a significant uptick in client demand for engaging within an appropriate physical distance. And that’s been great. “
DeSalvo said it’s important not to overlook the value of nonverbal communication cues, which can be easily lost in a virtual environment.
“That said, we probably won’t return to the same level of in-person communication that we had pre-pandemic — at least in the intermediate term,” he said. “We’ll try to carry forth the best parts of lockdown and optimize the recent past. For instance, we discovered that the virtual meeting does have a lot of merit. It’s never been easier to collaborate with some of our global partners in Ireland, Luxemburg, and Asia.”
The Operations Perspective
Erika Ivanyi, General Manager at Capital Group | American Fund, agreed that the future requires a happy medium in terms of social distancing.
“Things have changed,” Ivanyi said. “The novelty of working from home is wearing off, and a lot more people are interested in rotating in and out of the office than they are in working permanently from home.”
Something that her fund family will not be doing is allowing associates to work from anywhere. “They have to work within a reasonable driving range so they can come to the office when we need them to,” Ivanyi said.
Ultimately, panelists said they were anticipating bright skies ahead.
“There were a lot of challenges going into the pandemic, but our team did an excellent job working through the initial new normal, which was focused on business continuity,” she said. “We’re really looking forward to the new new normal — which is post-COVID, post-business continuity.”
Note: Although the observations contained in this work represent the best thoughts of the individuals comprising the Nicsa panel, they do not necessarily reflect the views of Nicsa or any of its member organizations. Matters addressed in this work may touch upon legal or regulatory matters, however nothing herein is intended to be or should be construed as legal advice. You should contact your own counsel in order to obtain legal advice regarding these or any other matters.
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Boston, MA – May 25, 2021 – Nicsa, a leading trade association dedicated to fostering dialogue and connecting all aspects of the global asset management industry, today announced the launch of a new committee as it further expands its reach across all business lines of the global industry: the Nicsa International Committee.
The Nicsa International Committee will provide a forum for discussion, and presentation of programs on, global issues affecting the fund industry and Nicsa’s membership. The committee will focus on issues such as distribution, regulation, trading and fund structures in both the U.S. and international markets and will provide support to Nicsa members that are looking to enter the U.S. from abroad or enter markets outside of the U.S.
The Committee is chaired by:
A vast array of firms across the asset management industry are represented on Nicsa committees including leading asset managers, broker dealers, custodian banks, transfer agents, and other professional service firms including audit, tax, law, technology, marketing, and compliance.
“Nicsa established the International Committee in order to build a platform for constructive networking and to provide a sounding board for best practices related to global industry issues. We’re excited to have a dedicated approach to international matters of interest to the Nicsa members.,” said Jim Fitzpatrick, President & CEO of Nicsa.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America. The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
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Boston, MA - May 19, 2021 - Two of the industry’s most dynamic thought leaders will address attendees of Nicsa’s Fearless Leadership Symposium. The event, sponsored by Nicsa’s Diversity Project North America, is the first and only national conference focused on Diversity, Equity and Inclusion (DEI) issues specific to the asset management and fund industry and will take place virtually June 16-17.
Shundrawn Thomas, President of Northern Trust Asset Management, will open the event with a call to action for business leaders across the asset management industry to move beyond the talk and into the type of action that will drive the industry forward on the business-critical mission of accelerating DEI.
George Gatch, CEO of J.P. Morgan Asset Management will speak directly to attendees of on important challenges and opportunities issues facing the asset management industry. The closing fireside chat will be facilitated by Sandy Bolton, Head of Managed Investments within the Investment Solutions Group for Bank of America.
Industry participants are encouraged to join Nicsa for this exclusive opportunity to engage with industry visionaries on how to cultivate diverse and inclusive leadership within the asset management industry.
For more information, view a full list of event speakers and preview the agenda at https://learn.nicsa.org/2021-fls.
More About George Gatch:
George C.W. Gatch is CEO of J.P. Morgan Asset Management. As CEO, Gatch is responsible for the overall Asset Management business, managing $2.3 trillion in assets across equities, fixed income, alternatives, and multi-asset solutions on behalf of institutional, sovereign and retail clients globally, as of yearend 2020. He is also a member of the Operating Committee of JPMorgan Chase & Co.'s Asset & Wealth Management line of business.
Gatch was previously CEO of Asset Management's Global Funds and Global Institutional businesses, and before that led J.P. Morgan's mutual fund complexes in Asia-Pacific, the Americas, and Europe. He joined the firm in 1986.
Gatch serves as Chairman of the Investment Company Institute (ICI). He is also a member of the board of directors of New York's Mohonk Preserve, New York's largest land trust.
Gatch holds a bachelor's degree in political science and economics from Washington University in St. Louis, Missouri.
More About Shundrawn Thomas:
Shundrawn A. Thomas serves as President of Northern Trust Asset Management where his responsibilities include developing long-term strategy, executing operating plans, cultivating client relationships, managing vendor relationships and developing talented professionals. He also serves as a member of the Management Group for Northern Trust Corporation.
Previously, Shundrawn served as Executive Vice President, Head of Funds and Managed Accounts. In this capacity he oversaw the development, management and distribution of Northern Funds, Northern Institutional Funds, FlexShares Exchange Traded Funds as well as the Managed Accounts practice which provides investment advisory solutions to clients. Shundrawn also served as President and Chief Executive of Northern Trust Securities, Inc., a wholly owned subsidiary of Northern Trust Corporation. Prior to joining the asset management executive team, Shundrawn served as Head of Corporate Strategy for Northern Trust Corporation. As a direct report to the Chief Executive Officer, he supported executive management with key strategic planning initiatives. Prior to joining Northern Trust, Shundrawn served as a vice president for Goldman Sachs and held positions in sales, trading and research with Morgan Stanley.
Shundrawn received a B.S. degree in accounting from Florida A&M University and an MBA degree from the University of Chicago Booth School of Business. He has also completed executive education programs in corporate strategy at Chicago Booth School of Business and corporate governance at University of Notre Dame Mendoza School of Business. Shundrawn currently holds FINRA series 7 and 63 securities licenses. Shundrawn currently serves as a trustee for Wheaton College and as a board director Museum of Science & Industry, Chicago. Shundrawn is a member of the Economic Club of Chicago. His civic involvement has afforded him the opportunity to present and lecture nationally on topics including leadership, strategy, investment management and professional development.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America. The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
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Boston, MA – May 11, 2021 – Nicsa announced the election of thirteen new Committee Chairs who will each help support the nonprofit’s work to advance leading practices within the global asset management industry.
Nicsa supports a variety of committees that are open to all employees of member firms, providing an excellent opportunity for all divisions, all departments, and all levels of management to participate in the development of industry solutions across myriad business lines. View full list of Nicsa Committees here.
Committee Chairs are the visionaries responsible for establishing and tracking the mission of Nicsa Committees, as well as presiding over activities and content generation. Committee members include asset managers, broker dealers, custodian banks, transfer agents, and other professional service firms including audit, tax, law, technology, marketing, and compliance professionals.
The list of newly elected Chairs include:
Compliance & Risk Management
Stephanie Tyler, Franklin Templeton
Data Analytics
Brian Foote, Broadridge
Diversity Project Education Engagement and Outreach Committee
Gary Casagrande, Confluence
Suzanne Cullinane, Janus Henderson Investments
Diversity Project North America Events
Donelle Chisolm, American Century
Emily Lawrence, Northern Trust
Diversity Project North America Next Practices
Ofelia Potter, Northern Trust
Fearless Leadership Symposium
Cheryl Boyd, EY
Anna Penn, Invesco
Fund & Investor Services
Andy Schlueter, Voya
NextGen
Lesley-Anne Archibald, Baillie Gifford
Nick Lombardo, Citi
Technology & Innovation
Gary Casagrande, Confluence
“We’re excited to welcome these new Committee Chairs who will bring their expertise and insight to Nicsa’s mission. I’d also like to thank those professionals that are rolling off of Committee appointments. Their efforts have been instrumental in advancing best practices in the industry we all serve,” said Jim Fitzpatrick, President & CEO of Nicsa.
In recognition of past service:
Compliance & Risk Management
Mark Trenchard, Putnam Investments
Data Analytics
Brad Moore, BNY Mellon
Fund Administration Committee
Victoria McGowan
Fund & Investor Services
Marty Griffin, Northeast Retirement Services
Industry Engagement Committee, Diversity Project North America
Maggie Sullivan, BlackRock
Strategic Leadership Forum committee
Larry Fahey, Eaton Vance
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America. The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative.
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Nicsa’s Rising Star Program, a new mentorship and awards program aimed at providing networking and career development opportunities to diverse, aspiring leaders in the asset management industry, is underway! Members of Nicsa’s Diversity Project North America are currently selecting nominees for consideration, and winners will be announced at the Fearless Leadership Symposium in June.
To watch a video outlining the program, click here.
And, here’s a quick look at some frequently asked questions about this new and exciting program:
FAQs
We are looking forward to celebrating and cultivating the next generation of diverse leaders in the global asset management industry!
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Event will highlight bold business practices that are changing the face of Diversity, Equity & Inclusion (DEI) initiatives
Boston, MA – April 28, 2021 — Nicsa, a leading global asset management trade organization, will be hosting its inaugural Fearless Leadership Symposium virtually on June 16-17. The Fearless Leadership Symposium is the first and only national conference focusing solely on DEI issues specific to the global asset management and funds industry.
This pivotal two-day event will bring together senior business executives to explore how inclusive leadership can enhance productivity, promote growth, and impact the bottom line. The symposium will highlight bold business practices that aim to support the long-term sustainability of the global asset management industry.
Attendees will hear from industry visionaries via powerful keynotes, interactive panel discussions, and succinct “Lightning Talks” aimed at empowering business leaders to “own” DEI issues and embed inclusion into the day-to-day fabric of how they run their businesses — ideals synonymous with Nicsa’s Diversity Project North America.
Featured speakers include:
During the symposium, winners of Nicsa’s Rising Star Program will be recognized. Honorees are diverse, emerging leaders within the industry that embody the values of the Diversity Project North America and demonstrate a commitment and intentionality for change. Nicsa’s Diversity Project North America (DPNA) is committed to providing mentorship, networking, and career development opportunities to diverse, aspiring leaders in the asset management industry. The Rising Star Program offers DPNA member firms a meaningful way to celebrate and cultivate the next generation of diverse leaders.
Firms interested in examining the current state of DEI within the industry and creating an aggressive path forward should contact Kelly Sherrard of Nicsa at [email protected]; media interested in attending this event should contact Allison Lovett at [email protected]; and firms interested in joining Nicsa’s Diversity Project North America should contact Justine Phoenix at [email protected]. View members of the Diversity Project here.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
Nicsa aims to help firms operating in all segments of the global asset management industry meet the changing needs of their clients by aligning and educating industry participants through formal education programs, interactive forums, networking opportunities, and initiatives such as the Diversity Project North America.
About Diversity Project North America
The Diversity Project North America promotes a diverse and inclusive asset management industry with the right talent to deliver the best possible results for our clients, reflect the society we serve, and ensure long-term business sustainability. We aim to achieve diversity across all dimensions through collaborative leadership from executive business leaders pooling resources from industry participants around challenges we all face.
The Project spans the entire range of the profession: asset managers, fund complexes, asset servicers, broker dealers, asset owners and professional service firms that support the industry. We seek to share best practices, identify gaps in our industry and initiate action to help solve or improve those inadequacies.
We strive to deepen the understanding and perception of what the asset management industry entails and the varied roles within it, to encourage a broader range of new candidates.
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Guest Blog by ALFI, a Nicsa partner. The Association of the Luxembourg Fund Industry (ALFI) represents the face and voice of the Luxembourg asset management and investment fund community.
The following article was written by Michael Maldener, Managing Director & Conducting Officer at Nordea Investment Funds S.A. Nordea Asset Management is a member firm of ALFI.
For several years, sustainability and ESG-tilted investing has been seen as niche, but now it has entered mainstream. What was potentially seen as a predominantly European crusade, has become a global and performance theme, fostered by the pandemic, social and environmental crisis awareness, reaching all parts of economic value chains and with profound impacts for our future society. A view through the lens of Luxembourg, the European epicentre for asset management.
Figures can hardly be neglected
It’s true, Europe is at the forefront when it comes to sustainable investing. Looking at 2020 year-end figures published by Morningstar, European assets in “sustainable funds” amounted to more than USD 1.3tn, about 5 times the assets in the US, the runner-up. But at the same time, we see significant growth rates in the US, suggesting that the sleeping giant is waking up.
Is it because of greater awareness, triggered by the pandemic and social issues surfacing more, or is it because of the environmental and especially climate challenges becoming more prominent? It’s probably a mix, but also the awareness that the asset management industry is essential in addressing the societal challenges at hand. Its sheer financing power is understood as the catalyst for global change for the better, towards more sustainability.
What’s happening in Europe?
In Europe especially, policymakers and governments have taken concrete actions to drive the agenda set by the Paris Agreement and the UN SDGs forward. A set of regulatory initiatives was launched to oblige the financial industry to take action towards sustainability. However, one should not make the mistake of thinking that its impacts will remain within Europe. As a global asset management industry, the impacts are also global as we invest globally, engage globally, and are responsible globally.
Deeply rooted in the Luxembourg asset management ecosystem, the second-largest investment fund hub in the world following the US, we at Nordea Asset Management, and other European as well as global asset managers, have taken action. Classifying our product ranges into different sustainability classes following the very recent entry into force of the Sustainable Finance Disclosure Regulation was the first concrete step from the regulatory agenda. Having integrated ESG considerations for many years, we welcome the standardised disclosure as a step in the right direction. And this step, now being taken by the entire industry, will bring greater transparency and over time, comparability for investors. Luxembourg, with ALFI in the frontline, is fostering a constructive dialogue among stakeholders, supporting the establishment of market guidance, pushing the sustainability agenda and thus assuming its responsibility locally.
But yet again, it’s not only about Luxembourg or Europe as investments are made globally. It’s also about the asset managers beyond European borders, them being international giants or small boutiques. To illustrate why small boutiques are also crucial, let’s look at a brief example. We at Nordea work with several boutique managers across the globe in our product range. For some of them, as in the US, the regulatory wave and related requirements are all new. But we all share a common goal to make investments matter and thus engaging and aligning with sustainability matters is essential. So, all of a sudden, a European initiative drives impact globally.
The above, along with the following steps to be taken by the industry, coupled with increasing and increasing-only investor education and the demand to contribute actively to their own future will drive change in societies and address environmental challenges without a doubt. But is it happening fast enough?
The winners of tomorrow
It’s not a big revelation that human beings – and certainly those within the financial industry – need incentives, not only financial but also moral or societal incentives, to change and adapt. In the financial world, such incentives are often, if not always, linked to return, performance and reward. So how to make ends meet?
The simple answer is: investing with sustainability in mind pays off, not only morally. The NYU Stern published a meta-study in February this year examining >1,000 individual research papers issued over the last five years on the correlation between ESG-tilted investing and financial performance. Unsurprisingly, their findings speak in favour of sustainable investments. The research shows that taking sustainability factors into account can result in enhanced performance, which provides down-side protection especially during a crisis and becomes more marked over the long term. But the study also confirms that ESG disclosure alone is not driving performance: simply claiming to take ESG and sustainability seriously does not do the trick – it must be truly embedded into investment approaches, organisations and their cultures to provide returns with responsibility.
And isn’t it also logical? To provide return to our investors today but also tomorrow, we must also identify those investments performing in the future. So imagining a company developing a service or product that is solving the social or environmental problems going forward or is seriously transitioning to a lower carbon footprint is probably also among the winners of tomorrow and thus, where financing should go to secure future performance. Admittedly, it sounds simple but it is complex and one can find numerous different approaches and angles to it, but they all usually have one thing in common. They put long-term conviction over only short-term yields which probably fits quite well with the industry’s goal to provide long-term value for long-term investments.
So it is a profound change we as an industry are facing and the sooner and faster the global industry adapts, the bigger the impact. It’s about determining our common and individual futures and thus the decisions to be taken about which way to go. The need for sustainable solutions in all areas of life won’t go away, it’s rather about whether we act with conviction or focus on the wallet. As illustrated, one doesn’t exclude the other and to the contrary, taking it seriously will grow the wallet long-term anyway. So, it’s a simple choice, isn’t it?
Observations contained in this work represent the best thoughts and opinions of individuals comprising Nicsa partner associations and do not necessarily reflect the views of Nicsa or any member organization. Nothing herein is intended to be or should be construed as legal advice. Contact your own counsel in order to obtain legal advice regarding legal or regulatory matters.
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Boston, MA – April 22, 2021 – Nicsa’s Diversity Project North America has partnered with LGBT Great on the release of Holding Up the Mirror: Diversity Data in the Investment, Wealth Management and Savings Industry, a survey of investment, wealth management and savings industry organizations on the collection and usage of DEI data (supported by EY).
As part of its mission to accelerate DEI in the asset management industry, Nicsa’s Diversity Project North America partnered with LGBT Great to deliver a comprehensive report of the survey findings to the global asset management industry. The report seeks to evaluate the current state of diversity data collection, provide insights from global HR on current challenges and recommendations, and share industry-specific good practice case studies on progress initiatives.
The research report was launched globally on April 22 and was supported by EY, with contributions by Diversity Project UK and Diversity Project North America.
Justine Phoenix, Head of Diversity Project North America stated, “The Diversity Project North America has developed a strong and beneficial relationship with LGBT Great and we are proud to partner with them on this initiative. The research acts to illuminate the challenges – and hopefully to offer some solutions around – the collection and usage of DEI data in the industry. This is a fast-moving and evolving element of industry DEI progress and we feel the timing and findings of this report are critical to success.”
Commenting on the report, Matt Cameron, Global Managing Director, LGBT Great said: “The investment, wealth management and savings industry has made limited progress with regards to the collection of diversity data and efforts have been largely disparate. The stakes are high and not just limited to talent, but organizations are also at risk of losing business reputation and underperforming commercially with inadequate diversity data. This bold new report not only aims to exposure the shortcomings and suggest new ideas, it also seeks to lay the foundations for future works to come”.
Survey results were shared via virtual programming offered to Diversity Project North America members. The report is available via LGBT Great’s research page, as well as nicsa.org.
Additional information about the survey can be found in the release distributed by Diversity Project UK.
About Diversity Project North America
The Diversity Project’s goal is to accelerate progress towards a diverse and inclusive culture in the asset management industry to deliver the best possible results for clients, reflect the society we serve, and ensure long-term business sustainability. Click here for more information on Nicsa’s Diversity Project North America initiative. Information about the UK chapter of the Diversity Project UK, which also contributed to the report referenced in this release, can be found here.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset management industry in order to develop, share, implement, and advance leading practices. For over fifty years, Nicsa has promoted an open and collaborative environment, where members’ and partners’ deep expertise and unique perspectives have come together to help strategically implement and support the industry’s most vital issues. Click here for more information about membership.
About LGBT Great
LGBT Great is a corporate membership organization that specializes in developing diversity and inclusion within the global financial services industry. Our vision is for our industry to become the most trusted sector of choice of LGBT+ talent, client and investors. LGBT Great works by supporting members to better understand LGBT+ specific and intersectional diversity and inclusion issues, like diversity data, through innovative insights, research and outreach programs. Click here to discover more.
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In doing so, we play a critical role in building a better working world for our people, for our clients and for our communities.
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