Member-only story
The finance industry has been too white and too male for too long. That needs to change.
In the wake of social justice reforms in the corporate world, one industry is in especially dire need of a reckoning: the asset management industry.
By Roy Swan
Over the summer, thousands of peaceful protesters took to the streets to demand racial justice in America. Their efforts led to a dramatic shift in which our workplaces, our government, and America’s C-suites finally began to address our history of systemic racism and the country’s race-based caste system.
One by one, entities across all industries reckoned with their histories and committed themselves to fundamental changes in an attempt to achieve more fairness. Despite these efforts, one sector of major financial influence lags in addressing the issue of fairness head-on: the asset management industry.
A need for change in the finance industry
Institutions across the country have been reckoning with America’s race-based caste system and awakening to even the most subtle bias as they grapple with how to move the needle forward when it comes to achieving equality.
Staff members in workplaces everywhere have come forward with troubling stories of overt racism or unconscious racial…
