It’s been another very productive three months for the Diversity Project; the coronavirus pandemic has taken its toll on many aspects of our lives but also opened up the possibility of reshaping and modernising our industry and we hope our efforts will help your businesses to do just that. We have pulled together a number of different ideas around how firms can Build Back Better.
As your businesses embark on the next phase of working through the pandemic restrictions, we would love to hear success stories that might help the whole industry become more inclusive, please get in touch.
Widening inequalities have been a growing concern through the pandemic, including setbacks around the progress made towards more gender equality. We relaunched the Diversity Project’s gender workstream, mapping our activity more precisely to the obstacles women face in our industry and aimed at ambitious targets of 30% female fund managers and a halving of our gender pay gaps by 2030. It’s exciting seeing a strong level of commitment across the industry to achieve a breakthrough in attracting, retaining and developing the careers of women and we are very grateful for all the volunteers who’ve stepped forward to be part of the new workstream. Watch out for new programmes arising from this soon.
Finally, please remember to look at our Covid-19 response page, covering a myriad of D&I topics, including mental health – further materials are being added on a regular basis. It’s still a very difficult situation for many, and we hope these resources are useful.
With very best wishes to you and your families,
Helena
We were proud to partner with #TAB on the #IAM campaign. This campaign mobilised the investment industry across the UK and beyond into supporting a movement against racial injustice, a movement which captured hearts and minds. If you missed the webinar or are looking for how you or company can help, click here.
See the SMARTworking Manifesto produced in partnership with Timewise, that highlights three recommendations and includes case studies for the industry here. Alternatively listen to our webinar.
Congratulations to the 100 students from 36 universities participating in the Investment Springboard programme and awards. Over the year, they took over 600 professional mentoring sessions and 76 virtual work experience placements. A massive thank-you to all involved. If your company can provide placements and mentors for our 2020/21 programme, please get in touch.
Do you have opportunities for Returners? We would love to offer more opportunities. Join the DP and Women Returner’s second cross company returners programme starting Jan 2021. Please get in touch. We had over 900, good quality, applications this year and about 30 roles, with less happening due to Covid.
The focus on flexible working has been hugely amplified by Covid-19. The SMARTworking workstream, in conjunction with Qlearsite we have developed a short survey that deep dives into how we return to the workplace over time as an industry. The idea is that we can uncover hidden employee insights and provide you with accurate data to inform return to work actions plans. Please can you ask your firms to participate.
The LGBT+ community has significant power and household wealth numbers and significant brand loyalty towards companies with demonstrated LGBT+ credentials. LGBT Great and Partners are commissioning an important and ground-breaking global research project which will examine the use of the LBGT+ lens as part of an inclusive ESG strategy. To find our more, or to take part, please contact.
Calling all members to sign the Armed Forces Covenant. Read our Kelly Mullane’s blog on why she asked her firm to sign it, and also an employer blog on why they signed up.
Magellan Advisory Partners is doing a 2020 Global Compensation Review, which could give us greater transparency around pay in our industry. If you, as an individual, would like to participate please click here.
It has been a very busy quarter! With 49 press mentions, here is some of the coverage.
- Investment Week: #IAM campaign launched across asset management industry in wake of George Floyd killing, 4th June
- Financial News: Actions speak louder than words, activists tell finance execs, 4th June
- Citywire: Podcast: ‘The City is still a challenging place to discuss race’, 5th June
- Professional Pensions: Is the pensions industry doing enough on ethnic diversity?, 8th June
- Bloomberg: There Are Only 13 Black Fund Managers in London, LGIM’s Onuekwusi Says, 26th June
- Financial News: Why financial services is still playing catch up on race, 29th June
- Investment Week: LGBT Great unveils Global Top 100 LGBT+ Executive Allies, 26th June
- International Advisor: Diversity group unveils global top 100 executive allies list, 26th June
- thewealthnet: LGBT advocacy group releases list of top investment executive ‘allies’, 26th June
- Portfolio Institutional: Diversity in pensions: Time for change, 7th July
- thewealthnet: Diversity Project says pandemic should be catalyst for change, 15th July
- Professional Pensions: The Diversity Project launches compendium to accelerate industry’s inclusion agenda, 13th July
- ESG Clarity: How can CEOs improve diversity in ‘build back better’ plans?, 23rd July
- Financial News: Helena Morrissey’s lobby group pushes for 30% female fund managers by 2030, 30th July
- Professional Adviser: Diversity Project targets 30% female fund managers by 20, 30th July
- Pensions Age: Building back better and helping those in need, 30th July
- Professional Pensions: Diversity Project targets investment industry pay gap, 30th July
Lady Helena Morrissey on how leaders can emerge from Covid-19 and accelerate the diversity agenda to Build Back Better.
