Race and Representation
Race and Representation
We welcomed a number of respected external guest speakers to join our ‘Race and Representation’ panel discussion last week. These included Roy Swan from the Ford Foundation, Michael Barrington-Hibbert, one of four co-founders of the new UK ‘#100BlackInterns’ initiative, and Colleen Amos OBE, founder of the Amos Bursary.
At Schroders we are committed to building a culture of inclusion through employee engagement events and activities, as well as company-wide commitments. In a year when the need for inclusion and connection is paramount, we are excited to share two new initiatives to continue driving long-term inclusion for our business and wider industry.
What is the new #100BlackInterns initiative?
#100BlackInterns was set up by Michael and his co-founders in 2020 to offer internships to Black students across the UK to help kick-start their career in investment management. We are one of 200 leading industry players to take part as a way to source a more diverse group of talent for the long-term. The internships will be taking place in the summer of 2021.
In the US, we have committed to join the collective effort with Connecticut State Treasurer and the Ford Foundation as we work towards a more equitable future. Following the recent focus on racial disparity, Treasurer Wooden pledged to build a coalition of willing CEOs, calling on corporate America to address the economic consequences of racial inequality. Schroders is one of 14 companies, including BlackRock, Goldman Sachs and Bank of America, to join the corporate call to action working group. This new coalition creates an opportunity for CEOs and corporations to wield their resources to collectively respond to socioeconomic disparities and racial inequalities.
The call to action will involve concrete actions for CEOs to apply both internally and externally. These include increasing diversity at all levels of the workforce and particularly among senior leadership. Other actions include creating pipelines for diverse talent development, commitment to procure goods and services from diverse suppliers and capital investments to improve financial wellness in communities of colour.
Marc Brookman, CEO of Schroders North America, says:
“I’m deeply committed to enacting the change that will break down the socioeconomic barriers within our industry that too often fall along racial boundaries. This means increasing diversity on our boards and across all levels and identifying and tackling opportunity gaps within Schroders, to ensure our team is representative of the communities we work with. I’m honoured to be part of this collective effort with Connecticut State Treasurer and the Ford Foundation as we work towards a more equitable future. #CorporateCalltoAction”
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