Building diverse cultures a work in progress
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Despite efforts by investment managers and other financial services firms to improve diversity, the industry still is not where it needs to be.
Executives no longer need to explain the thesis behind creating diverse teams — particularly in terms of bringing cognitive diversity to investment — but statistics show more work needs to be done, panelists said on a roundtable discussion among senior women in the finance industry, organized by
Pensions & Investments.
Research by the CFA Institute, which has dedicated resources to the topic of gender diversity, shows that female representation among positions at the core of the investment management industry — CEO, CIO, portfolio managers and research analysts — hovers at 15% and below. "And so we still have a long way to go on that," said Margaret Franklin, Toronto-based president and CEO of the institute.