During Nicsa’s recent NYC-based Fearless Leadership Symposium, ABC correspondent Byron Pitts led a discussion among industry leaders about the pivotal issues shaping the DEI journey in asset and wealth management. Bob Adams, Chief Operations Officer, Fidelity Investments and Cinda Whitten, Head of Global Investment Operations, Nuveen provided invaluable perspectives on navigating today's complex challenges and seizing opportunities from industry trailblazers.
These influential business leaders discussed their responsibility in fostering an inclusive environment within their organizations, emphasizing the critical role of creating a culture where diversity is viewed as a business imperative essential to the enterprise's success.
Here are our key action items from the discussion:
- Drive Mission-Driven Approaches:
- One way that organizations within the asset and wealth management industry can integrate DEI into their core mission is to focus on addressing gaps in retirement wealth, particularly for women and African Americans. The intersection of business goals and social responsibility should remain a priority focus for industry leaders.
- Expand DEI Definitions:
- Organizations should broaden their definitions of diversity to include various backgrounds and experiences beyond just race and gender.
- Embed DEI into Business Strategy:
- DEI should be seen as a business imperative, seamlessly integrated into the organization's mission and strategies to drive long-term success.
- Leadership Commitment:
- Leaders must commit to driving DEI initiatives and leading by example, ensuring that the organizational culture reflects a genuine commitment to diversity and inclusion.
- Addressing Societal Challenges:
- Organizations should remain alert and proactive in addressing societal challenges and distractions that may impact DEI efforts, maintaining a steadfast commitment to progress.
- Measure and Communicate Impact:
- It's essential to measure the impact of DEI initiatives and communicate their importance to the workforce, linking efforts to tangible business results to sustain engagement and momentum.
- Promote Inclusive Culture:
- Building an inclusive culture requires continuous effort and alignment with evolving internal and external environments, ensuring that all employees feel valued and included.
This summary captures the essence of the discussion, emphasizing the multifaceted nature of DEI and the critical role of organizational commitment and leadership in driving meaningful change.
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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